Relevant VS Honest Cash

2019-02-01T18:05:45.000Z Honest Cash

I read this Medium story… Relevant: An Introduction by Slava Balasanov … and replied to it

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What you’re trying to do is admirable, but I’m skeptical of your methodology. Check out these websites…

Honest Cash
Cent

These websites are, for the most part, markets. This means that each and every participant has the opportunity to spend their money on the content.

With the first website you can see the posts in each category (ie art) sorted by value, but you can’t yet see the responses to a post sorted by value. With the second website it’s the opposite (art).

The biggest problem with both websites is that you can’t spend money on your own content. As a result, the amount of money spent on any given content doesn’t accurately reflect its true value to the community, which means that creators can’t make correctly informed decisions. It also means less funding for the websites.

This is like the economics joke about how it’s impossible for a $100 bill to be just sitting on the sidewalk. Clearly it is possible, but the thing is, you’re in a great position to pick it up.

If you give your members the opportunity to spend their money on the content, including their own, then I’ll be very happy to join team Relevant. You could just implement tipping and then give users the option to sort the content by tips.

Anyways, I’m pretty sure that “relevance” is best defined by money, but I could be wrong.

By the way, I learned about Relevant because it was shared on Cent. So far nobody has spent any money on the post. If you joined Cent you would be able to spend your money on the post, but it would essentially be the same thing as spending money on your own content, which you should certainly be allowed to do.

Please let me know if you have any questions.

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