this post was submitted on 20 Oct 2023
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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Summary: Reddit warns mods that it's ending its crypto program, before it warns the other users. What could go wrong? /s

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[โ€“] TWeaK@lemm.ee 28 points 1 year ago (2 children)

I'm sure the SEC will be very interested to hear this, particularly as reddit staff are likely involved.

PAHAHH I can't even keep a straight face while typing that.

[โ€“] Album@lemmy.ca 3 points 1 year ago

Sec doesn't give a fuck. If pressured enough they will pretend by issuing fines that are a fraction of the profits made.

[โ€“] SharkAttak@kbin.social 3 points 1 year ago

Wonder if it will somehow hinder their IPO, lol

[โ€“] PowerCrazy@lemmy.ml 13 points 1 year ago (1 children)

Why did moderators have 100's of thousands of those things anyway, and who the hell was buying them?

[โ€“] Moonrise2473@lemmy.ml 6 points 1 year ago* (last edited 1 year ago)

For some reason they thought it would gain value as an investment.

TBH I never saw a shitcoin holding value. Once the hype for the launch is gone, they always nosedive in value. You need to have some gambling issues to believe that no, this coin is special and this time it will gain value

Monopoly money is and will always be worthless

[โ€“] Mr_Buscemi@lemmy.blahaj.zone 4 points 1 year ago (1 children)

I still know some people that mod on reddit. Gonna ask if any were notified by reddit like these peeps lol.

And does this have any ties to the Fortnite subreddits with their own crypto stuff that came out earlier this year? I had almost modded that sub this year but decided against it when I found out they were dealing with crypto crap.

[โ€“] lvxferre@lemmy.ml 3 points 1 year ago

Well, the article only mentions shady trade with $moons from r/CryptoCurrency, not with $bricks from r/FortNiteBR. However I'm not surprised if some investigation dug some shit with other subreddits too, so perhaps you avoided a lot of future annoyance in your life?

[โ€“] Send_me_nude_girls@feddit.de 2 points 1 year ago (1 children)
[โ€“] TWeaK@lemm.ee 7 points 1 year ago (1 children)

It's not money laundering, but it is insider trading.

[โ€“] Hotzilla@sopuli.xyz 3 points 1 year ago (1 children)

Dondong, both can be true, they are not mutually exclusive.

[โ€“] TWeaK@lemm.ee 4 points 1 year ago

True enough, but there's no indication of money laundering.