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Reddit may be tricking users to buy awards/coins (kbin.social)

submitted 1 year ago by okbuddyretard@kbin.social to c/RedditMigration@kbin.social

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Recently, Reddit announced that they may be discontinuing awards/coins on September 12. However I'm skeptical and I think this may be just a deceptive announcement for them to make a quick buck from awards/coins. What are your opinions on this?

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[–] kingthrillgore@kbin.social 2 points 1 year ago (1 children)

reddit is the only site that can kill revenue sources and somehow survive

[–] s_s@lemmy.one 1 points 1 year ago* (last edited 1 year ago) (1 children)

Any revenue stream for reddit starts with real human eyeballs, and not bots. Bots can post and inflate activity numbers (which is good for ads), but they're not going to buy gold.

So you get rid of gold so that it doesn't look like that revenue stream is drying up, especially if you need to fake that selling ads to real people is going really great.

If you had just pissed off a massive portion of your users and they went to lemmy and elsewhere, but you knew they'd be pissed off and you were already ready to replace them by catching fewer bots, then you have to do this to keep up the sham.

Eventually all shams get caught, but you really only have to survive to your IPO this fall. VC money and CEO are all on board with this sham.

[–] kingthrillgore@kbin.social 1 points 1 year ago

Their IPO is overdue and is going to fail, all involved are going to walk away with a pittance of what was invested.