Reddit Commenting Can Pocket You $24K In Bitcoin

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Last Updated on 23 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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One of the most interesting documentaries to be released in 2020 was certainly Netflix’s The Social Dilemma. It shows how tech companies make money off your personal data, a system perfected by Sheryl Sandberg when she joined Facebook (it is in my personal opinion starting to look like Reed Hastings, CEO of Netflix, might dislike Mark Zuckerberg’s Facebook platform given that he also released documentary The Great Hack in 2019. Just a thought.)

Anyway, a social media user has now been able to do the reverse, aka get paid (in Bitcoin) for posting anonymous comments on social media, and this without having to post in bikini, smiling to the camera, or get plastic inserted into his or her body.

Advertentie.

Upvotes

You see, long before PayPal and Square got into crypto, another tech great had already decided that part of their revenue would be committed to Bitcoin. Reddit, the social media comments site that is like an anon chan site for all things popular, has been offering Moons to frequent commenters for months now.

These are points that you can earn if your posts are comments get a lot of upvotes. Via a complex system you can even exchange these into crypto.

Although the early system was not very handy, Reddit made it clear they would be doing an upgrade. And in April of this year they did, allowing commenters could earn crypto directly.

Changpeng Zhao, the CEO of Binance, even thought it earned a Breaking post to his millions of followers. He stated, at the time:

Reddit introduced about 20M new users to cryptocurrency or their own token in a matter of seconds. Thousands of popular websites, likely thousands of tokens.

Subforums

R/Cryptocurrency, one of the most popular reddit subforums, explained that a blockchain-based points system would be installed which would let regular commenters earn community points (the marketing name for these Moons), which could be exchanged for actual crypto on the Ethereum platform. One of their fans explained how it would work in a long-spun Medium post.

Although it all sounded like a joke back then when Bitcoin was still trading below $10,000 and the halving hadn’t occurred yet, the seriousness of the issue has been shown by the end of the year now that a man who frequently comments on r/cryptocurrency declared that his participation in the comments section has earned him a sweet $24,000 in Bitcoin.

Not bad for posting comments of course.

The BTC I got from my reddit moons is now worth $23,736. from CryptoCurrency

The man, who posts under the moniker Cryptorich13 said:

I shitposted a lot in 2017. I was awarded 80k Reddit moons earlier this year which I sold on the rinkeby testnet using XDai and honeyswap and immediately bought BTC with it. (0.92 BTC to be exact). That BTC is now worth $23,736 at a price of $25,800 per BTC. I have literally made $24k from memes and shitposting. Thank you reddit, thank you to the crypto community.

Gesrey / Depositphotos.com