Shitposting, a time period generally utilized by Reddit customers, lately helped a Redditor earn $24k in Bitcoin. The person swapped his Moon tokens for Bitcoin on the platform.
How the person earned the cash
31-year-old Reddit person, Cryptorich13, claims to carry over $150,000 in Bitcoin. He talked about his experiences in a publish yesterday and mentioned that his earnings from Reddit have now valued at $24,000 due to the rising costs.
Reddit Moons are ERC-20 tokens that have been launched earlier this yr and awarded to a small part of the r/CryptoCurrency subreddit. The Moons run on a check model of the Ethereum blockchain, known as Rinkeby. When a person writes a publish that different folks like, they may upvote it on Reddit. The extra the variety of upvotes, the extra Moons a person can obtain. The Moons can be utilized so as to add weight to votes within the polls carried out on the platform. They can be used for tipping.
Cryptorich13 mentioned that as a result of reputation of his posts, he earned greater than 80,000 Moons in 2017. His posts largely embrace funding recommendation and Bitcoin memes. Moons have been solely usable throughout the Ethereum check model Rinkeby until July this yr. Its developer Austin Griffith, created a technique to maneuver tokens throughout blockchains due to which they’ll now be despatched to different networks.
An extended and sophisticated course of
The person was in a position to ship his cash to Griffith’s trade known as the xMoon trade utilizing MetaMask pockets. From there, the Moons are senton xDai blockchain which is an alternate model of DAI blockchain. Right here, the Moons change into xMoons, which could be swapped on a decentralized trade for stablecoins DAI and MKR. They will then be offered for money on one other trade.
Cryptorich13 mentioned that he used his cash to reinvest in Bitcoins. He was given 80,000 Moons, which he used to purchase 0.92 BTC utilizing xDai and Honesyswap. He mentioned, “I’ve actually made $24k from memes and shitposting.”