I was searching info on a crypto scam and saw that now reddit has jumped on the crypto bandwagon too? Everything must be on a blockchain for some reason
blockchain != crypto
the technology is no more the scam than eggs are a cake.
- Linked to Ethereum mainnet.
- Earn and Spend points
- Tips
- Network fees
It’s a crypto currency, and ethereum is a blockchain. Blockchains have little use outside of cryptocurrency. A cake mold to a cake would be a better comparison.
You’re wrong there. The only use case of blockchain is cryptocurrencies .
false, as proven by the simplest of research such as provided in reply to my initial comment.
It isn’t, as your link shows, no other successful use other than cryptocurrencies or things explicitly tied to cryptocurrencies exist. There’s theoretical uses, sure, but nothing practical. Ipso facto it’s just for cryptocurrencies.
And there goes that goalpost! Moves like the wind.
My goalpost is still there. The only practical use of blockchain is cryptocurrencies.
other than that isn’t the statement you made which I refuted, sure.
That’s not karma. Those are community points, which are subreddit-only points that have been on the blockchain for years.
If you’re not on the crypto subreddits, you’ve probably been blissfully unaware they exist. But it sure gets the crypto subreddits excited, especially when they can announce that their pet coin is moving to a New And Improved Blockchain ™.
This sounds a bit like steem, (which appears to be mostly hindi and korean content now.) They tried a scheme where you essentially get crypto for upvotes and engagement.
It is because you are on a crypto subreddit.
Such a scam. Also completely believable - remember Reddit’s NFTs?
This is the kind of content I’m here for.
Burn baby burn
How does blockchain make karma more secure and useful? Isn’t it just a count of upvotes stored in a database? Or is community points something different?
Why do worthless internet points need to be made more secure anyway?
By putting them on the blockchain it would at least make them a public database, where you’d be able to see if Reddit admins tried to do any tampering.
Except that if you control the majority of computers that said blockchain is stored on, you can just edit the chain. And now that’s the “official” story.
You’d have to own all of the ledgers.
Actually, you just need 51%. That’s it. With 51% you can out mine everyone else, and then write whatever you want to the blockchain.
