more stupid cryptocel shit that nobody actually cares about. apparently the "contract" that issues MOON is now (or will eventually be) unusable even by reddit (its issuer). this causes a run on the token (pathetic because its STILL under a dollar and STILL useless).
i genuinely dont understand why anyone other than thirdworlders would ever give an actual frick about this, but a lot of people are still mad and some are speculatively hopeful for some reason???
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Eli like I'm a normal cel who understands normal economics
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reddit made a shitcoin and gave it to people for shitposting. thirdworlders abused this and made several usd per day by shitposting on /r/cryptocurrency. turns out the fact that shitcoins are worthless and money isnt cheap anymore affects development of useless things, so reddit discontinued the shitcoin without any warning, leaving thirdworlders and speculators high and dry. theyre now saying that shit is Officially Over™ by "burning the contract", meaning that no more of these shitcoins can ever be made by anyone. for whatever reason, r-slurs think this is a good economic indicator of the state of the shitcoin and it has increased in price despite there being absolutely no indication of use of it by reddit or any other entity. there is no indication of use cases for the shitcoin, and there isnt any motivation for anyone to develop any; because the shitcoin is now definitely finite, theres speculation of value with nothing backing it.
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I assume they think the limited quantity will drive the price up because of imaginary demand.
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Mfw I can use shitposts to make people say Trans Lives Matter
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Can you eli5 for someone who went “yeah sure whatever give me internet money for nothing” years ago and wants to sell whatever I have in some reddit wallet I've never used?
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if you own MOON tokens, you can sell them now for more than they were worth on exchanges a day or a week ago. if you dont, then you probably dont and shouldnt give a shit aside from tapping on the glass as poors pretend theyre back.
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Were moons supposed to be used for anything? Or was it a way for r-slurs to send money to reddit, who in turn would provide magic beans?
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