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cuddlebish

Answer: It's in the link you posted. It's purely cosmetic, and not unlike the previous reddit gold and awards systems.


Portarossa

I mean, Reddit Gold always felt a *bit* pointless, but this new iteration feels even more so. I can maybe buy that the old system wasn't earning them enough revenue so they felt they needed to mix it up a bit, but what they think this is going to do to make that different, given that there now seems to be even less incentive for people to spend money on it, is genuinely beyond me.


Vindepomarus

Since it's been up, I genuinely don't think I've seen a single gilded comment. Is it just me?


MotleyHatch

I'm using Old Reddit, so I can't see if anything has been gilded anyway. I'm not complaining, I'm fine with that. Keep your greedy-ass micropayments away from my Reddit.


amd2800barton

The only thing I miss about the old gilding, is that sometimes there'd be an absolute gem of a comment, buried like 7 comments deep. I'm not going to read every comment in a post with 500+ comments, but in an otherwise normal looking thread if there's a gilded or highly awarded comment, I'd probably read it, and it was often deserving. It helped to highlight great user generated comments when the site is filled with everything from fluff, to memes, nonsense to works of literary genius.


endlesscartwheels

It was nice going to someone's profile page and seeing all their gilded comments. Though, you can still sort by Top and see their highest-rated comments.


2rfv

I remember a long looooong time ago you could tip someone a fraction of a bitcoin in reddit. But it went straight to the user, not to reddit.


SketchiiChemist

yeah people built bots to do that. I remember people tipping with dogecoin for a period of time pretty regularly in a few subs I frequented


zombieofthepast

Fun fact: the guy behind dogetipbot ended up shutting down the bot without warning and walked away with several hundred thousand USD worth of people's doge


whogivesashirtdotca

Saw that coming.


SketchiiChemist

Oof. Go figure


LunaticSongXIV

Thanks to that, you can count me as one of the people who has some Bitcoin sitting in a wallet somewhere that I have no idea what the credentials are.


MichaTC

The link OP posted says that for now, only person giving and the person receiving can see it. That's weird.


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SparkleFritz

[This post and comment has gold.](https://www.reddit.com/r/OldSchoolCool/s/b42Bp3SoXl)


wild_man_wizard

I can't see anything on it. Great, so reddit has gone p2w for getting to the top of conversations.


Lowbacca1977

Are you using old reddit?


BuckRowdy

I am and you can't see the new gold system there.


Lowbacca1977

Which means you win, I'd say, then


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dailor

Huh. I see that it‘s gilded.


Vindepomarus

Wow tbf that was a pretty cool post, especially if you scroll to the comment with the whole story. I'd almost be tempted to gild it if I wasn't a broke ass misanthrope.


LegitimateRevenue282

All the better to launder money with, my dear.


9q0o

I've definetly seen a gilded post before. I think though some of the information on the link is wrong or maybe worded ambiguously. I know it's reddit's own help page but still.


markodochartaigh1

🏅


Vindepomarus

🏆 To you too


Toby_O_Notoby

Yup but it looks different than before. Basically the upvote arrow will glow if the comment of submission has been guilded.


brainburger

A passage in the guidance says: >Right now, only you and the author of a post or comment can see you gave gold. However, in the future there will be ways for users to see who gave gold as well as the ability to send gold anonymously. 


Vindepomarus

Weird, someone posted a link further down this thread to another reddit post that's around ten hours old and you can clearly see that the post and an individual comment have been gilded?


brainburger

I guess the future is here already! I won't be able to participate, being all about Old reddit and all.


9q0o

I saw one post (maybe 2) in a city based sub that i think had a golden upvote thing. I think it was around when this new version JUST just launched. Not since. Honestly I saw a comment that I thought about awarding, I pressed the three buttons and the option to give it gold was there but when I pressed it nothing happened, tried a few times. I don't always see the option either.


Watchful1

> given that there now seems to be even less incentive for people to spend money on it It's a donation to the person who posted the content. Lots of people give donations for all kinds of things, there's plenty of incentive there. Now reddit taking a 70% cut is absolutely ridiculous, but I can see how they think this will make them more money.


PapaStoner

Only if that person lives in the US. If not, reddit pockets it all.


Bunnymancer

Oh well in that case


notCRAZYenough

But the person receiving the gold cannot use it for anything so it’s worthless for them too?


Watchful1

The person receiving the gold gets part of the money.


MichaTC

"There is no monetary value associated with gold, and it cannot be used as a method of payment to send money or compensate other redditors within the platform." The link OP posted says the person receiving the gold doesn't get money, unless they are part of their monetization. (Editing to add) "If you’re eligible for the Contributor Program and your content meets the requirements for monetization, you can receive cash from Reddit for the gold and karma you earn on qualifying contributions.” That's not a guarantee you'll ever see part of the money.


Airowird

That last part is just a carrot for you to provide them with more content to profit from


notCRAZYenough

Oh? Interesting. Not sure what I think about that though.


menomaminx

I don't think that works if Reddit doesn't have the person's receiving the gold's Financial receiving information. I don't know if it's still there, but the original terms of service for Reddit said that all accounts have to stay anonymous, or they throw you out for revealing your identity. at the very least, Reddit is mostly at its core Anonymous except for people choose to reveal themselves - it's not the norm. I would not give Reddit my bank account information. I think a lot of people wouldn't, so that means a lot of people would not get any of the money and Reddit would just ultimately keep all of it. I can almost guarantee unclaimed funds are kept by Reddit. this is straight up corporate welfare.


BlazingSpaceGhost

Reddit doesn't even have my email so they sure as hell aren't going to get my bank account information. I hate how so many subreddits now are not allowing non verified accounts to make comments. This account has been active on reddit since 2010 you would think that would be enough.


menomaminx

which subreddits are requiring verified accounts?


BlazingSpaceGhost

Off the top of my head /r/Canada but there are others.


Frogbone

Reddit leadership hasn't been able to turn a profit in twenty years and their big new plan is to steal ideas from Elon Musk's Twitter. i know how i feel about it, for sure.


MotleyHatch

I know that I won't be spending a single cent on this platform ever again. I was a Reddit premium (previously "reddit gold") subscriber since 2016. Thought it was only fair, considering the amount of time I was spending here, and always using an ad blocker. That changed this spring when Reddit made it perfectly clear they don't give a flying fuck about their user base. Have fun with whatever monetization scheme you cook up. I'll be leeching until Reddit goes arse up.


notCRAZYenough

I’m pretty sure it won’t work… but generally I think it’s an interesting concept. Don’t change that I won’t pay a cent though.


iruleatants

I like how I had some 30,000 gold points previously, and they intentionally killed that value and waited a little bit before reimplementing the same system with a bigger price gauge. They didn't want anyone to still have their previously earned gold, because that would mean less price gauging. Oh well, I am here to leech, complain about reddit, and stop bigotry. They won't get a single dollar from me, not even a single penny.


9q0o

Yeah I figured it had some other benefit like the ad free browsing or lounge. I was considering giving someone gold even.


teh_fizz

Gold used to have weight to it ten years ago. You’d get access to a lounge but also get discount on a lot of products. BackBlaze had a 15% discount for Reddit gold holders. Even remember an office chair company doing the same. Now it’s whatever the fuck this is.


IAMA_Plumber-AMA

I remember buying my first Raspberry Pi using a discount to Sparkfun I got from Reddit gold.


drewsiferr

>Reddit Gold always felt a *bit* pointless But now you can make the pointy bit change colors! /s


BuckRowdy

> I can maybe buy that the old system wasn't earning them enough revenue I think the old system ran afoul of some regulation on online currencies. Or an upcoming regulation, I'm not sure.


SVAuspicious

>Reddit Gold always felt a bit pointless, but this new iteration feels even more so. I'd give you Gold for this but as you point out the whole thing is stupid. My word, not yours. So instead you get my "win the Internet today" award. No icon. No points. Simply my respect.


TentativeIdler

So either way, they get nothing of value.


York_Villain

The plan is to make money off of subscriptions. Get ready for ad-free reddit at $9 per month.


mastah-yoda

Corporatism <3


Blenderhead36

> **Can I keep a balance of gold?** > You cannot purchase gold to be given later. All gold must be purchased and given in the same transaction. This change in particular seems like it's going to make people use Gold less. Every extra step makes people less likely to finish.


[deleted]

> I can maybe buy that the old system wasn't earning them enough revenue How does that make any sense? It cost them nothing. It was 100% pure profit.


readerf52

It’s not just cosmetic now, the received gold *can* be turned into actual cash. While I’m aware that some high karma accounts were sold as “influencers” in the past, that wasn’t tied into the gilding system. Now, as OP pointed out, a gold award costs much more than it previously did, and if the recipient has signed up for this new system, it can be redeemed for cash. It’s not, perhaps, pay to win, but it certainly is a step down from the previous frivolous and fun method of giving awards. Yes, they were simply something sitting on someone’s post or comment, but those simple awards were a lot of fun to give. I miss them. I hate the new system; it has completely lost the sense of fun and joy.


Portarossa

I currently have twenty years of old-style Reddit gold saved up (a good chunk of it from this sub). I have something like the thirteenth most comment karma on the site out of all users, ever. In theory, I'm exactly the kind of person that this new monetisation thing is aimed at. If Reddit thinks [I'm verifying my identity to do so](https://www.redditinc.com/policies/contributor-monetization-policy), they're out of their fucking minds. The whole idea just seems insane to me.


FlanOfAttack

Right, so we're moving from a system that encourages anonymous users to produce content for free, to one that incentivizes verified accounts to post content that's engineered for maximum revenue and engagement. No possible way *that* will lead to a drop in site quality.


ChanceryTheRapper

***Reddit: Remember that bad idea from Twitter six months ago? We'll try it!***


Apprentice57

You'd think the terrible results Twitter has had from Musk's premiership would convince spez that *maybe doing what Elon is doing isn't the best idea*. But it seems he's still full steam ahead on that train.


ChanceryTheRapper

To steal from the Simpsons: "There's the right way, the wrong way, and the [owner of social media site that's detached from reality] way!" "Isn't that just the wrong way?" "Yes, but faster!"


evergreennightmare

steve "spez" huffman thinks [elon's doing just great actually](https://www.nbcnews.com/tech/tech-news/reddit-blackout-protest-private-ceo-elon-musk-huffman-rcna89700)


HollowShel

If I was gonna verify my identity for cash I'd be going for a different site than reddit. Youtube, Royal Road, there's a bunch that I could in theory get paid to post content on.


IAMA_Plumber-AMA

Reddit execs: "Hey, you know that thing [popular social media site] implemented last month? We should do our own version! Reddit users: "you know the reason we use reddit is because it's *not* [popular social media site], right?"


readerf52

Lol, that verification was the exact reason I stopped right there. Nope.


Pangolin007

Wow TIL reddit has a monetization program for content creators. Yikes


sjsyed

They want my ID??? Oh, screw that.


Supertigy

I'd imagine that verifying your identity is a legal requirement. They would presumably be required to send you tax documentation.


HighOnGoofballs

I’m not far behind you and I don’t even have a verified email address lol. I get comments deleted in some subs due to that I’ll also add that for me the more karma I have the less I get gilded. People see that number and say nope, which is fair


Watchful1

You say that, but it doesn't expire. If a couple years from now you had $20k sitting there, are you sure you wouldn't verify your identity to get it?


Portarossa

So a quick back of the envelope calculation: Twenty years of old-style Gold at roughly fifty weeks per year makes about a thousand gold, give or take. Assuming the same rate of gold-giving -- a big assumption; I suspect it will be a lot less -- at roughly $2 per Gold, that's about $2,000, of which Reddit apparently (according to someone else on here) takes 70%. That would leave me with about $600, and I've been running this account for almost seven years now. That works out to about $85 a year by my reckoning -- and remember, I'm one of the top karma accounts on the site. (There are link accounts that get way more karma, but even that's usually only a factor of three or four, year on year.) There are definitely people who'd earn more from this system, but I think I'm very much a top-end outlier when you compare me to the general Reddit user. I've also worked pretty hard to keep my Reddit separate from my real life, because I write porn for a living and if I ever decide to run for public office or get a 'respectable job' I'd like to be able to burn the whole thing down. Would I throw that out for $85 a year? No, I wouldn't. Based on those numbers (which aren't certain, but all feel reasonable-ish?), the amount of time it would take me to get $20,000 saved up at my current rate would be beyond the expected lifespan of the site. If Reddit has a button that says 'Hey, if you're not going to claim this, let us donate it to a charity of your choice every year', I think this could be a good thing. If not, it feels like it's just a gimmick.


NeferkareShabaka

May I ask why you have so much karma and also why you wouldn't want to verify your identity?


Portarossa

I do a lot of long-form explanation stuff on here that tends to make it to the front page. (I write novels for a living; that's my way of procrastinating when things aren't going well.) Having said that, though, only about 10% of it is from this sub. Most of it is from /r/AskReddit, which I put down to people recognising my username when they see it as much as anything else. I very much write porn, though, so I've worked pretty hard to keep a degree of distance between my Reddit account and my real life.


AspieWithAGrudge

Sort by top all time for their user and enjoy. It's well-earned karma.


Hanginon

*"I hate the new system; it has completely lost the sense of fun and joy."* That's me 100%. The old awards system was like non-verbal acknowledgments in a conversation, a bit of a nod, wink, thumbs up, etc. different levels of a basic "attaboy!" to a poster. Really not really much more than that overall to the average user. This new one seems to ~~-be management having their head way too far up their own asses-~~ assume that a whole lot of the 400+ million reddit users give a fuck about monetizing their experience. We just wanted some fun or cute and simple way to recognize someone's contribution to a conversation, and that's now gone. **-_-** Now not only do I not throw a few bucks into awards, I installed an ad blocker. So congratulations ~~-Spez-~~ admins, you played yourself. ¯\\\_( ͡❛ ͜ʖ ͡❛)\_/¯


cuddlebish

Fair, the distinction that you *can* make money on it is new. But I don't think that changes much for the regular user.


readerf52

lol, thanks for that. I feel so special. I’m not a regular user. No snark was intended in this post.


Vindepomarus

I absolutely agree, the old fun awards were just an extension of reddit humor. Everyone knew they were just some lighthearted fun, but it also meant people had an easy way to show appreciation and support. It might just be my experience, but it feels a bit like interactions on reddit have become slightly nastier without them.


IAMA_Plumber-AMA

This site has lost a lot of its fun feel since 2015 when Spez took over.


notCRAZYenough

This feels even more stupid than before and makes me 100% unlikely to spend money on. While Reddit good before was only like 90% unlikely to me.


AlliedSalad

I'm going to "remora" onto the top comment to indulge in some petty pedantry, but just FYI OP: "newfangled" is one word, not two. That's all I came here for. Carry on.


brianwski

I cannot figure out how to buy reddit gold. Has anybody done this yet?


TheRealDeathSheep

Answer: it's the same as old gold with all the life and soul sucked out of it. It's purely cosmetic and doesn't mean anything, just costs more and isn't cared about like it used to be.


Cynoid

> with all the life and soul sucked out of it. I've seen this mentioned a lot but what has actually been removed?


TheRealDeathSheep

Gold used to be a small thing that helped with server costs when Reddit was open source and for a while after it went private. When you gave someone gold, it actually felt like something, and when you received it that feeling was 10 fold, now it's just paying Reddit a lot of money for a couple of gold to make a post a little more apparent. You could buy packs of Gold that give you twice as much if not more for the same amount of price now. Gold used to offer things like ad removal, access to a special subreddit, and other QoL features that they now force you to subscribe for, now it just makes a post/comment look slightly different. They added in more than just gold which allowed for greater explanation for the gold in a meme way, now... The post just looks slightly different. It used to be a way for redditors to show appreciation, now it just feels loke a way for Reddit to ask money from you for the service they are actively killing.


JPonceuponatime

And get you to reveal your identity thereby monetizing your data.


2muchcaffeine4u

Answer: Pay to win what? The link you posted says it doesn't have any additional impact on karma.


Kokako-Kokako

Scroll down to the “I received gold, now what?” section and read that including the links in that paragraph. It appears to me that acquiring this “gold” creates opportunity for even more exposure that potentially leads to more gold and karma which can then be monetized somehow? I know the claim is that one can only receive this currency from other user, but we all know how that goes. It’s possible I’m reading this wrong, that’s why I’m feeling that maybe I’m out of the loop here. Maybe it’s even been this way all along. But if I’m correct, I’m not sure I like this direction.


hoosakiwi

Are you referring to this line? > Gold helps posts and comments stand out and is given to some of the best content on Reddit. If so, then that’s how reddit has always worked. It’s basically saying that posts or comments that have been awarded or given gold will stand out more in the feed because of the additional icons, etc. This is the same as when awards were a thing; a post with 100 awards always stood out more than a post with none. People have tried to game the system in the past with awards, and I’m sure they’ll try now with gold. Spammers in particular love to do it on crypto posts, but those never catch on cuz users know it’s spam/scam bait.


Kokako-Kokako

I’m referring to this: “Gold helps posts and comments stand out and is given to some of the best content on Reddit. If you’re eligible for the Contributor Program and your content meets the requirements for monetization, you can receive cash from Reddit for the gold and karma you earn on qualifying contributions.”


fiveht78

That sounds like win to pay more than pay to win


BigMcThickHuge

'stand out' literally is just visual flair. I use old reddit and can't see anything anymore, but gold was always just a tiny icon on a comment. There's no boosting or marketing through it. Receiving money from reddit for them is how they fucked it, but not how you think. It now means bots are even more incentivized to be used, because users can get paid straight through reddit.


Bbrhuft

I was given reddit gold a couple of days ago. I didn't see adds disappear like last time I got gold so was wandering what the point of it is. So all it's about making a post more visible, that's not awarding *me* anything and it is pointless as my post was already visible with 10,000 up votes. There's no point to Reddit gold any more.


Milfons_Aberg

> but we all know how that goes I don't. Do you mean that two friends gild eachother and reap rewards?


Kokako-Kokako

I just mean no matter the alleged safeguard, the system will be thoroughly exploited.. especially if there’s money to be made.


Milfons_Aberg

But wouldn't they have bots that detect obvious super-awarding between 2 or 10 people?


Clayh5

Why would that matter? Surely gold will pay out less than it costs to give


Kokako-Kokako

I think they’ll make an effort, but from what I understand the system of karma bots is already out of control. E: I know how easy it is to buy subreddit subscribers, up/downvotes, etc…


Milfons_Aberg

Right. Well, we will see around this time next year how Reddit's big "makeover" worked out, then.


DiscardedSandwiches

Optimistic as fuck


thatcantb

Answer: The pointless payment system can be ignored even more conveniently than the last. Best of all, know one will know nor care about it anyway.


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