Redditor Earns Over $24k in Bitcoin For ‘Shitposting’
A Redditor and serial shitposter has earned over $24,000 in Bitcoin ‘from memes and shitposting’.
Cryptorich13 claims to have turned all of his MOON tokens earned from r/Cryptocurrency announced the news in the subreddit yesterday, with details and links of how he did it.
‘I shitposted a lot in 2017. 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),’ said the Redditor.
‘That BTC is now worth $23,736 at a price of $25,800 per BTC. I have literally made $24k from memes and shitposting.’
Free Bitcoin Makes Up For Bad Moves In 2017
It’s turned out to be a fairytale ending for the Redditor after he says he lost a lot of Bitcoin in the 2017 alt season, and vowed to hodl the Bitcoin this time around.
‘Although it doesn’t make up for all the BTC I lost since 2017, it still brightens my day and I will hodl this BTC until the end of time. I love you all,’ said the delighted Redditor.
Let’s hope he maintains his sense.
What Are Reddit MOON Tokens?
Reddit MOON tokens are a new trial NFT launched by Reddit earlier this year. They are ERC20 tokens and are awarded to those who contribute to the r/Cryptocurrency sub, and they run on an Ethereum testnet, Rinkeby.
When a Redditor writes a popular post they receive MOON tokens. The more upvotes, the more MOON they get.
The tokens are supposed to be used for having more influence in the subreddit, and tipping other Redditors, which ultimately gives them more clout.
Redditor Cryptorich13 claims his regular shitposting earned him over 80,000 MOON, which he then took advantage of a loophole created by developer Austin Griffith.
MOON tokens were only supposed to be NFT and usable only within the Ethereum, Rinkeby testnet, but Austin Griffith created a way to wrap MOON and send them to an exchange also developed by Griffith.
Once the MOON are wrapped on the exchange blockchain, they become xMOON and are then on a wrapped version of stablecoin DAI blockchain: xDAI. From here they are tradable.
xMOON can then be traded on a decentralized exchange (DEX) called Honeyswap for dollar stablecoins such as DAI, which can then be moved onto bigger exchanges and traded for cash or BTC.
Cryptorich13 said in he sold his MOON on September 26 and got more than 9100 DAI, which he says he then invested in Bitcoin, netting 0.92 BTC at the time.
His Reddit post yesterday has so far earned a massive 5734 upvotes, and ironically earned him another 553 MOON tokens, which should net him some more Bitcoin.
Author: Tommy Limpitlaw
Why should I buy Bitcoin?
People who understand Bitcoin buy Bitcoin because it is a peer-to-peer money that nobody can manipulate. It’s all set in the Bitcoin codebase which is secured by hundreds of thousands of computers all around the world. Bitcoins can be sent by anybody and no third party is need to verify the transactions, and nobody can stop Bitcoins being sent. There are many more reasons why people buy Bitcoin, and a deeper dive before doing so is recommended.
Can you buy less than 1 Bitcoin?
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How many bitcoins are left?
There can only ever be 21 million bitcoins. At the time of writing, there are 18,562,756 bitcoins in circulation. There are 6.25 bitcoins minted roughly every 10 minutes, so that’s 900 every day. The amount of newly minted bitcoins is cut in half roughly every 4 years, in what is known as the halvening. The halvening will continue to take place until the last fraction of Bitcoin is minted in around the year 2140.
Who is the CEO of Bitcoin?
There is no CEO. There is no central authority that directs or controls Bitcoin. It was created by a pseudonymous programmer Satoshi Nakamoto, but he gave it up to the community, and now all decisions are made by the hundreds of thousands of miners and nodes who work for the Bitcoin network.