A tenured investor told Reddit that he made his Moon tokens into Bitcoin to reap massive rewards, all of it came from “memes and shitposting.”
The Reddit user named Cryptorich13, who claims to hold around $150,000 in Bitcoin, stated in a post yesterday that he sold the moons he earned in exchange for Bitcoin. Because of the surging price of Bitcoin, his earnings from posting on Reddit is now equal to over $24,000.
Reddit Moons are ERC-20 tokens given to those who contribute to the r/CryptoCurrency section on the website. They run on Ethereum’s test version named Rinkeby.
When a user creates a post that others like, they upvote it. The more posts get upvoted, the more Moons the users receive. Redditors can use Moons to add weight to votes in polls on the platform or tip different users.
Cryptorich13 says that his posts are so popular, he earned 80,000 Moons since 2017. It includes anything from ruthless investment advice to funny Bitcoin memes.
Moons are only usable in the test version of Ethereum until July, after Austin Griffith made a way to transfer the tokens from one blockchain to another.
The gist is quite complicated: Using the MetaMask wallet, one can send the moons to an exchange made by Griffith – the xMoon exchange. Starting from there, the moons will be on the xDai blockchain, another version of the stablecoin DAI’s blockchain.
When the Moons have moved to the xDai blockchain, they become xMoons. If a user has those, they can trade them on the decentralized exchange, Honeyswap, for other tokens which can then be sold for cash thru another exchange.
Cryptorich13 stated that he sold them and used the cash he earned to invest in Bitcoin. “I have made $24k from memes and shitposting.”
“I was awarded 80k Reddit moons earlier this year which I sold on the Rinkeby testnet using xDai and Honeyswap and immediately bought BTC with it (0.92 BTC to be exact),” he wrote.
Cryptorich13 added that the price of Bitcoin has risen since he wrote the post. As of now, 0.92 BTC is worth $24,561.
The post attracted several comments, with one user, salil19 writing:
“0.9 BTC is crazy to get for shitposting.”
Another user, HashMoose, wrote:
“As a moon hodler it almost hurts me to upvote this.”
Now you know Redditors, get shitposting!
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