Reddit is discontinuing its Gold awards system, leading to its demise

Following the controversy caused by its API modifications, Reddit is now introducing another alteration that has stirred up dissatisfaction among its user base. The company has declared that it will be phasing out its coins and awards system, much to the chagrin of its users. While Reddit claims to be developing a fresh rewards system, it has not disclosed any specifics regarding its potential launch date. Previously, users had the ability to purchase Reddit Coins and utilize them to grant awards to others.

Effective immediately, Reddit has announced that users will no longer be able to acquire new coins. However, all existing coins and awards will remain accessible until September 12, 2023.

In a blog post addressing the situation, Reddit explains that this change is being implemented to simplify the platform. The company has acknowledged user feedback, expressing that individuals find the "clutter from awards and all the steps that go into actually awarding content" to be unappealing. Consequently, Reddit is actively working on revamping the mechanics of its rewards system, although specific details about the new system are currently unavailable.The company expressed the need to completely rethink and revamp the current concept of awards and coins. They acknowledged that the existing system is no longer effective and should be phased out. However, Reddit emphasized that recognizing valuable content and contributions, along with something special akin to the cherished "golden" concept, will remain integral to the platform.

In the Reddit community, members utilized coins and awards to acknowledge and appreciate noteworthy contributions from others. These awards were represented by small icons displayed on posts within the platform. It all started with Reddit Gold, which eventually expanded as new awards like Reddit Silver, Platinum, Ternium, and Argentium were introduced. At present, there are over 50 different types of awards available on Reddit.

Understanding the need for change, Reddit intends to unveil a new future for rewarding content and contributions in the coming months. While specific details have yet to be disclosed, the company aims to redefine the way users recognize and appreciate valuable contributions on the platform. This signifies a shift away from the current awards and coins system, opening the door to exciting possibilities and fresh approaches to rewarding and encouraging user engagement on Reddit.

Reddit has announced its intention to provide additional information about a forthcoming update that will revolutionize the way users reward each other's valuable contributions on the platform. This move aims to empower Redditors to engage more meaningfully and establish innovative methods for recognizing high-quality content. The company is committed to designing a user-friendly and comprehensible system that simplifies the process of rewarding exceptional posts and comments.

However, the decision to discontinue the current rewards system prior to implementing the revamped version has generated dissatisfaction among users. As a result, the absence of a rewards system on the platform has left many feeling disappointed and frustrated.

One user expressed their opinion about Reddit's decision by stating, "When you eliminate features without having suitable replacements ready, it strongly resembles the typical behavior of Reddit." Another user added their perspective, saying, "So basically, you're taking away a popular feature and still charging the same price for the premium service."

Reddit recently made an announcement that has fueled even more criticism directed towards the platform. The company has been facing continuous backlash since it revealed its plan to charge developers for accessing its API. This decision has sparked protests from numerous subreddits and moderators, highlighting the discontent within the Reddit community. Despite the backlash, Reddit CEO Steve Huffman has consistently stood by the company's choice throughout the past month. It appears that Reddit is resolute in its decision and unlikely to make significant changes to the API pricing structure in the near future.