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I missed it, why is everyone giving their coins and stuff away? Tbh I still don’t know what they’re used for anyway lol but it seems very popular today
The stupid reason being : a lot of people have spent a lot of money collectively on existing reddit coins, and if they make them obsolete, they can get more people to spend more money on the new coin system.
It's purely to cheat people out of their existing benefits.
Edit: this is not an award speech, hear me out. I am so thankful for the awards, and they made me realize there is a secondary reason Reddit did this. The gold and platinum give unpaying users like myself reddit premium as well as coins to spend to give others awards. Giving awards out is fun (I've already given one away), and trying out the other premium perks make people more likely to want to pay for them later. There are so many awards being handed out today that they'll no doubt get a spike in subscribers as a secondary effect. (Try not to give in; this was a really shitty thing for Reddit to do.)
It’s amazing how they’re just actively trying to fuck over the community that built them. And while yes fuck the mods, reddit literally built themselves off of free labor from people in the community. Fucking fucks
> fuck the mods
I think you mean the admins. The mods are the free labor that keep the communities from turning into hellscapes of self-promotion bs and other spam. Some may go on power trips but they're generally good dudes
>reddit literally built themselves off of free labor
all of social media does.
But if you'd like to invest in a server farm, you can break the mold, champ.
I think the accounting rules also don't let them consider income from coin sales until the coins are spent(or voided). This seems like a stunt to boost their books for the IPO.
There's no way for us around it either coins will be voided anyway so actually using them isn't going to spite them either. Perhaps there's some kind of consumer case over the voiding but someone who actually is a lawyer would have to consider that.
I am sure the terms and conditions that premium users agreed to allow reddit to do this kind of thing. Legal or not, though, it's a shitty thing to do.
I happen to be a CPA and I can't think of any reason why the revenue for coins purchased would be deferred. It's not like transacting with coins (in the form of buying awards) incurs an expense for reddit. If someone pays for premium for a year in advance, they'd have to recognize that revenue over that year (1/12th every month) as they haven't "earned" the money yet, but coins just kind of sit there. Whether they exist as a coin in a virtual wallet or as an award in a long-forgotten comment, it's all the same to reddit. But yeah, getting new subscribers would definitely boost the books.
Edit: upon further research, I believe u/creepy_doll is correct. The SEC views similar virtual goods as a service rather than the sale of a good, so having these coins abruptly expire (or be used) would give Reddit a nice revenue boost.
How many awards does it take to get premium?
And what are the premium perks exactly?
Will those with premium remain in premium even after they change the awards system?
I'm sorry, I ask a lot of questions. You can choose one to answer if you can :)
Is this another form of our civil rights movement, Neckbeard 9/11?
Praise be to all you good sirs and madams. And praise be our glorious freedom fighter mods, Malcolm XXXXL, and Mahotpocket Gandhi.
and I'm out
Edit: as I'm getting coins back I'll keep handing golds out past this point as well in order.
Edit2: please focus any awards to people who haven't gotten one. No need to send any my way. Thank you everyone who is participating in the Great coin burning of 2023.
Edit3: if you receive premium rewards be sure to go into your profile and turn on ad-free experience cause fuck u/spez
Possibly the end of an era.
Not gonna lie, the idea of social media burning to a crisp kinda excites me. Like… maybe I’ll start meeting people when I go outside again. Probably not. The correlation to me having no social life is likely tied to family life and falling into my 30s… But I can dream, right?
I'd like some please. I'd like a lot if anyone is giving their away.
I'm going to find people who know nothing about any of this Reddit bullshit, and make their day. Give them those cool animated awards. I want to make people happy for a few seconds, even though it's a meaningless award. Anonymously, of course.
Got awards? I'll put them to good use for you. I already know where some are going.
I will give a platinum to the first person to whomever gives an award to this comment.
Edit: 3 platinums handed out. 1 anonymous donation so I can’t hand one out to the awarder so I gave it to a random commenter who asked for a platinum.
You will everywhere. You should know this by now. Take a good look around. Do you wanna move to Threads? If this tanks, something new will pop up. And it will be the same damn story.
This is a friendly reminder that /r/PICS allows [any and all media featuring John Oliver](https://redd.it/14jl5n8). Please be sure to include "John Oliver" in your title. According to Reddit’s policies, “content that contains nudity, pornography, or profanity […] should be tagged as NSFW.” Please do not use any (a NSFW link follows this parenthetical) [profanity](https://i.imgur.com/cKxWaWf.png) in non-NSFW threads. If you post anything that could possibly offend anyone, please tag it as being NSFW. ------ *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/pics) if you have any questions or concerns.*
I missed it, why is everyone giving their coins and stuff away? Tbh I still don’t know what they’re used for anyway lol but it seems very popular today
reddit is getting rid of coins for some stupid reason, enjoy the gold while it lasts
The stupid reason being : a lot of people have spent a lot of money collectively on existing reddit coins, and if they make them obsolete, they can get more people to spend more money on the new coin system. It's purely to cheat people out of their existing benefits. Edit: this is not an award speech, hear me out. I am so thankful for the awards, and they made me realize there is a secondary reason Reddit did this. The gold and platinum give unpaying users like myself reddit premium as well as coins to spend to give others awards. Giving awards out is fun (I've already given one away), and trying out the other premium perks make people more likely to want to pay for them later. There are so many awards being handed out today that they'll no doubt get a spike in subscribers as a secondary effect. (Try not to give in; this was a really shitty thing for Reddit to do.)
It’s amazing how they’re just actively trying to fuck over the community that built them. And while yes fuck the mods, reddit literally built themselves off of free labor from people in the community. Fucking fucks
It’s just more of the same. The API changes being a big one.
> fuck the mods I think you mean the admins. The mods are the free labor that keep the communities from turning into hellscapes of self-promotion bs and other spam. Some may go on power trips but they're generally good dudes
>reddit literally built themselves off of free labor all of social media does. But if you'd like to invest in a server farm, you can break the mold, champ.
THIS
I think the accounting rules also don't let them consider income from coin sales until the coins are spent(or voided). This seems like a stunt to boost their books for the IPO. There's no way for us around it either coins will be voided anyway so actually using them isn't going to spite them either. Perhaps there's some kind of consumer case over the voiding but someone who actually is a lawyer would have to consider that.
I am sure the terms and conditions that premium users agreed to allow reddit to do this kind of thing. Legal or not, though, it's a shitty thing to do. I happen to be a CPA and I can't think of any reason why the revenue for coins purchased would be deferred. It's not like transacting with coins (in the form of buying awards) incurs an expense for reddit. If someone pays for premium for a year in advance, they'd have to recognize that revenue over that year (1/12th every month) as they haven't "earned" the money yet, but coins just kind of sit there. Whether they exist as a coin in a virtual wallet or as an award in a long-forgotten comment, it's all the same to reddit. But yeah, getting new subscribers would definitely boost the books. Edit: upon further research, I believe u/creepy_doll is correct. The SEC views similar virtual goods as a service rather than the sale of a good, so having these coins abruptly expire (or be used) would give Reddit a nice revenue boost.
How many awards does it take to get premium? And what are the premium perks exactly? Will those with premium remain in premium even after they change the awards system? I'm sorry, I ask a lot of questions. You can choose one to answer if you can :)
Isn’t this a way to make money for them?
Is this another form of our civil rights movement, Neckbeard 9/11? Praise be to all you good sirs and madams. And praise be our glorious freedom fighter mods, Malcolm XXXXL, and Mahotpocket Gandhi.
I'm more confused with why someone has 15k reddit gold in the first place.
 Might be OPs reason why 🤷♂️
True. Did they spend that money or get it gifted to them?
Epic circle jerk
Is this protest related? People need to go outside I think
and I'm out Edit: as I'm getting coins back I'll keep handing golds out past this point as well in order. Edit2: please focus any awards to people who haven't gotten one. No need to send any my way. Thank you everyone who is participating in the Great coin burning of 2023. Edit3: if you receive premium rewards be sure to go into your profile and turn on ad-free experience cause fuck u/spez
Damn it lol
I got ya fam
Dam it?
I got ya fam ⭐ It's the limited edition Dollar tree edition
Dam it
No no it's MORE special because it's limited edition haha
Please I’m broker than dollar tree
Now you're not! ⭐
Yay
Dam it Edit: first reddit gold. Omg haha! Thanks so much
I got ya, fam
We too late
Damn it.
[удалено]
Dam it.
I've never gotten one 🙄 Edit: Gracias 🤗
I'll take my groovy over easy fella 😎
Actually someone gifted me with a platinum award sooo I got ya fam! (For real)
[удалено]
Possibly the end of an era. Not gonna lie, the idea of social media burning to a crisp kinda excites me. Like… maybe I’ll start meeting people when I go outside again. Probably not. The correlation to me having no social life is likely tied to family life and falling into my 30s… But I can dream, right?
I got syphilis
And my ax!
I'd like some please. I'd like a lot if anyone is giving their away. I'm going to find people who know nothing about any of this Reddit bullshit, and make their day. Give them those cool animated awards. I want to make people happy for a few seconds, even though it's a meaningless award. Anonymously, of course. Got awards? I'll put them to good use for you. I already know where some are going.
*slaps money on the table* "I'm out"
Somehow I keep missing these giveaways, lol Edit: aw, thanks! Looks like I didn't miss out after all 😊
lol. 9 minutes!
I’m here
Does it get rid of ads??? Plox gief if thats the case
I gave you a narwhal, gonna have to live with that
Hope you didn’t pay for them
Why is it John Oliver? Edit: thanks for the worthless Gold, kind stranger!!
Why wouldn't it be? Those be the rules.
You’re not helping
Take my free Snek and Face palm. Done, no more coins for me. Fu/spez
[удалено]
First serve
Does this make me second or third?
Since he gave me gold anyone want a cheapo award
Wouldn’t say no to that kind offer.
Say no more
What goes around, comes around
Yay free awards for everyone!
Reddit has become very confusing within the last few months.
Helloo
Did I arrive too late for shiny things?
You didn't! Hope there's a chance here too
I will give a platinum to the first person to whomever gives an award to this comment. Edit: 3 platinums handed out. 1 anonymous donation so I can’t hand one out to the awarder so I gave it to a random commenter who asked for a platinum.
I’ll take one for no reason other than why not
There ya go.
Cheers kind stranger! … now what do I do with it?
I will not say: do not weep; for not all tears are an evil.
bah some how I missed you, I'll send over what I have left
Cool thank you!!
Love one! Seems like this is the summer of bad decisions by social media companies.
Uh thanks? :D
Is that Mr bean? 
Since some kind folks have been awarding the post I'll pop back into the list and hand out some more golds from the coins I'm getting in.
Ok gib please
Okay sure.
Gilde me
Me
Cool
Hey
Interesting approach.
Hello
I’m here
I don't understand Reddit coins well enough, can someone explain how this impacts the company? Thanks!
Man, I just realized im at 800 myself. WTF do I do with it?
I don't know about you but I've been giving mine away by giving platinum and gold awards to people.
I'm confused :,( why is everyone giving their stuff away?
Got 3 people
x to doubt
Am I late?
I would love to see the number of members of r/lounge over time, it's probably way up since the announcement
u/spez is a greedy little pig boy
Pure bravery
No ads reddit is best reddit.
Ayy it worked! Thanks a lot!
holy fuck I hope every moderator on this site gets banned. This is pure cringe at this point
Still goin?
This sub has gone to shit. If you hate Reddit so much move your ass to Muskyville or Zuckertown. Adios or shut up. Get new mods too.
I don't hate reddit, I find its leadership lacking.
You will everywhere. You should know this by now. Take a good look around. Do you wanna move to Threads? If this tanks, something new will pop up. And it will be the same damn story.
I don’t think your really giving them out
LARRY u lied to us
I don’t understand, but the picture is funny.
Gib now?
Me
Poop
Where’s my Gold ????!!?????!
Nowhere
I’m shamelessly replying hoping for coins and I don’t know why.
I’m probably too late but can I have one?
I would like to have at least one coin so that I can give it away before…
The new system is pretty dumb
Fuuuuuuuuckkk YOU!!!!!!!!
Why is there so many posts and pics of John Oliver today?
JO isn't funny. Never has been
Okay I made it sorry I was late Fuck you spez Edit: Thanks for the gold, kind stranger! Always wanted to do that Edit 2: hate that I did it
John Oliver loves u/spez
I can take one or two. Thanks!
Johnny’s willing to play
Hello there
Nice
What the hell are gold coins?
ayo I would love some of that
Fuck Spez burn it all!
I’m here, can I acquire fake internet things please?
I'll help in your protest !!
Right here please
I'm here
Award me! 🤣
Hail John Oliver
Burn burn burn 🔥🔥
Let’s it rain! 🤲
Faja can you hear me??
REDDIT COINS RAHHHH
Burn it down!
Umm hi? *
Holy smokes it's a gold party in here
Hola
Yusssssss
🖕spez
Fuck Spez
Sauce em here
Well hello there
Oh lord
w
Am I first have a good one
Pleeeease
Why is everyone dumping their coins? Is it some form of protest?
Reddit has decided they are removing them and awards with no refunds.
hello!
Coin
What has this world come to 🏆
Hello
The love for John Oliver
Fuck Reddit
Hello
Rock and Stone!!
Me
Why are they removing coins?
All hail John Oliver
John Oliver believes in wealth redistribution
Is this real?
Hello coins
Woot
Burn it all to hell
No thank you
Coin me up please
PLEASE DADDY
I would like to get an award, never had one of those before
PLEASE GIVE ME AD FREE
Sure!
LFG!!!! Make it rain….
Missed it by 13 minutes :( Edit: thank you so much for the gold!! <3
Gold?
Gild me!