What Is Reddit Gold? How It Works and How to Give It Away

Tell me about what you see for the future of gold and why you own it. Michal is a passionate marketer who has previous experience from different aspects of growth marketing within international startups. However, by buying Reddit accounts and Reddit upvotes, you should be able to boost your post either way. 1,000 Reddit Coins on your first purchase, then 700 Reddit Coins each month you are a member thereafter. We’re always looking at the newest trends and products, as well as passing on opinions on the latest product launches and trends in the industry. Jake is a professional copywriter, journalist, and life-long fan of technology.

  • While karma fulfills a similar purpose, awards come with tangible benefits and cost money to give.
  • This year, the consultancy expects funds to hoard 150 million ounces – the second highest level ever – and bar and coin buyers 253 million ounces.
  • Don’t you hate when you return to a long thread, only to have to scroll past hundreds, maybe thousands, of comments to find the new stuff?
  • (Half-joking.) Could anyone tell me the best place to get investment grade physical gold and silver and what the minimum buy amounts are?

Does this argument for Silver make sense to those more knowledgeable than I? Starting today, we’re introducing an update to Reddit gold and rolling out a new program where qualifying redditors, descending triangle breakout including mods, can be rewarded with money for their contributions to Reddit. “I’ve gotten a couple of calls that people have seen online that we’ve been selling 1 ounce gold bars,” he said.

Silver in 2022: Is it a good investment?

I’ll add the link to the resources in the description below for you take a look, too. Commodities and precious metals are real, physical goods and as such their price is positively affected by inflation. If you are not sure why that’s the case, let me break it down for you. Inflation is basically the decline of the purchasing power of a currency. Essentially, the same amount of money buys less of a specific good, commodity or service. Therefore, in times of high inflation, investors buy more commodities to preserve some of their purchasing power which is why these commodities are referred to as a store of value.

Most of the content that receives awards are already highly upvoted and have a lot of responses. Things like a useful guide for beginners on a particular topic or an original, unique meme frequently get gilded. Also, in subreddits with a constant flow of news, the first person to post a breaking story is often awarded.

Blackrock said it added more than 100 million (adds dropped word) ounces of silver to its stockpile in three days. I’m prepping for the upcoming zombie apocalypse and want to cash in all my money for gold and silver bullion and coins. (Half-joking.) Could anyone tell me the best place to get investment grade physical gold and silver and what the minimum buy amounts are? The person who suggests the place I wind up buying can stay in my bunker for three days after the apocalypse. If you receive a silver award, all you get is the icon. If you receive a gold award, you get a week of Reddit premium, plus 100 coins you can use to give someone silver.

  • Mods can also create and give out special moderator-exclusive awards.
  • They need to be protected, which is why they are prohibited from buying private placement investments.
  • Finally, there is a strong component of “sticking it to the man” with buying GME.

Each subreddit also has a “community bank.” Every time someone on a subreddit uses a community award, the community bank gets credited 20 percent of the coins spent. The mods can then use these to commend great content on the sub. Mods can also create and give out special moderator-exclusive awards. Usually, these awards are given to acknowledge a special post, whether it’s an incredibly good pun, an in-depth book review, or an act of kindness. Other times, Reddit gold is given just because someone in a subreddit happens to have a lot of money to spend.

Price predictions and forecasts

Gold and silver have been around since the dawn of civilization so it’s no wonder that investors flock to them when they are worried and want some safety. That’s another reason why we have seen a big jump in their prices in recent weeks, too. Anyone on Reddit can reward posts or comments from other users with a visible gold, silver, or platinum commendation. These awards cost coins, which are paid virtual goods you can buy directly on the site. Today, we’re simplifying the experience of awarding content that redditors like with a new gold system.

The age old question. Gold vs Silver and which you prefer.

Obviously, that is not great news for silver investors and stackers, but I think that the analysts are a bit pessimistic in their price forecasts. We’ve seen that the demand for silver is going up and will continue to go up while the silver supply is shrinking. We’ve seen that there are inflationary pressures and geopolitical tensions around the world.

Are Reddit Awards Worth Anything?

Now, I guess the question on everyone’s mind is how high can silver prices actually go? In March of 2020, silver skyrocketed to almost $30 dollars and has been moving between $22 and $28 dollars since then. Most recently, silver prices were floating around $22.5 dollars, but the war in Ukraine has pushed silver prices back up to almost $26 dollars. Can we expect even higher prices by the end of the year? Well, some analysts expect silver prices to remain the same for most of the year, before falling down to $22 dollars in December. Other analysts are more bullish and are seeing prices around $26 to $28 dollars, but they also lean towards lower prices by December 2022.

Inspired by Reddit forum WallStreetBets, some of the 122,000-strong community hope to corner the market and bring down what they say is an unjust banking system. If you receive an award from an anonymous person, you can thank your benefactor via private message. If he or she responds to your note, you can find out the person’s username. Also, when you purchase Reddit coins, it helps keep the site running. On the old version of Reddit’s website, there was an information box on your profile that showed how much server time gifts on your behalf had funded. I just saw this when my scripts ran and I can’t yet discern what happened.

In 2021, silver demand was just 1.033 billion ounces compared to a supply of 1.056 billion ounces. Essentially, demand has gone up by 7.6% whereas supply has only gone up by only 3.4%. Again, there isn’t a massive difference between supply and demand right now, but if the trend continues, this could really start pushing the price of silver up! Demand for silver jewelry and silver as a physical investment are also going up by more than 10% so that’s yet another trend that can positively influence silver prices.

He covers news and user guides for KnowYourMobile. Select the award you want to give the user, click “Next”, and then confirm your decision. Coins, which are paid virtual objects that can be purchased directly on the website, are required in order to be eligible for these rewards. Gilding is a term that refers to the process of awarding a post.

What is Reddit Gold and why it matters

Sen. Bob Menendez of New Jersey was indicted on federal bribery charges and 81.5 ounces in bullion were seized from his home. “They’ve done their market research. I think it’s a very clever way to get their name in the news and have some great publicity,” he said. Rose noted that the company seems to have accelerated its offerings of dried foods and other survivalist goods at a time when worries about the future are running high. For example, the company markets a 150-serving emergency food preparedness kit that could come in handy, you know, just in case. Costco is well-known as a place to get bargain prices on any variety of items, from food to luggage to appliances to gold bars. That said, let’s look at the arguments for and against the possibility of a user group – even if it has millions of people – driving the silver price so high.

Only about a quarter of the 1 billion ounces or so that are produced each year is used to manufacture the bars and coins that most of them are buying, analysts say. Most of the rest is used for jewellery and in industrial applications. There’s also truth in Redditors’ claims that big players can influence the profitable gold trading strategy silver market. One trader tactic is spoofing – sending out fake buy or sell orders to shift prices before completing the real trade. Posters on Reddit joined the silver fray on Jan. 27, when posts appeared on WallStreetBets saying that if enough people bought the metal, they could push prices to the moon.

To purchase and award with gold (or “gild”), redditors can long press the upvote icon on mobile (or hover over it on desktop) directly within the post or comment they want to reward. One fact may help readers see through the myth how to buy stmx that so-called “paper” silver somehow “diverts” demand away from silver metal. In this facile view, the banks sell “paper” silver naked short, and if they could not do that, then the price of silver metal would be a lot higher.