Earn cash for your content on Honest Cash
Honest Cash - social network that pays creators based on Bitcoin Cash (BCH)
Honest is a social network where you can earn Bitcoin Cash (BCH) if you create value. Our mission is to improve the quality of content on the internet and to get people paid for doing what they love.
You earn Bitcoin Cash when your content is upvoted on Honest Cash.
You can earn Bitcoin Cash by voting on good content early.
Your opinion is important, regardless what position do you represent. You can make your content uncensorable on Honest Cash so it can never be censored or removed.
There’s a different kind of advertising taking place on the Bitcoin Cash (BCH) network, using an application called Memopay. The ad campaign platform employs a novel approach to advertise someone’s website, product or service by sending a small fraction of BCH to thousands of public addresses with an encoded OP_return message.
Also read: BCH Devs Lock in Code for the Chain’s Next Upgrade: Schnorr and Segwit Recovery Memopay: Onchain Advertising
The internet has completely transformed the advertising business into a whole new medium and programmable money is also going to create some new methods of sharing promotional content. For instance, an application called Memopay plans to do just that with its service that offers promoted onchain advertising using the BCH network. Memopay’s website explains that advertisers can reach out to bitcoiners by introducing products and services through onchain messages. The platform uses an OP_return transaction which gives an individual or organization the ability to tether a small message to the transaction and certain block explorers can read the messages.
“Memopay delivers your ad message directly to the wallets of thousands of active Bitcoin Cash users,” explains the service. Memopay reaches out to bitcoin cash holders by sending small fractions of dust to an active address with a message tied to the funds.
Basically, Memopay sends thousands of transactions by sending a small fraction of BCH dust to active BCH wallets. The service believes each ad message delivered along with a small amount of bitcoin cash “pays for attention.” So far the business has run about six onchain ad campaigns that have added up to a total of 88,063 ad messages delivered. A typical transaction could be like 0.00001111 BCH (1111 satoshis) and Memopay says there have been 95,623,876 satoshis distributed.
For instance, the company Cyberian Mine ran a campaign with Memopay because they wanted to drive awareness to potential crypto-focused clients. According to statistics recorded by a Bitdb query in real-time, 10,000 ad messages were delivered and Memopay claims the company saw a 110 percent spike in organic traffic to their website. “You only pay when they click to visit your website,” the website details.
In another instance, Memopay tied an editorial that was shared online and delivered the link to 1,000 BCH holders. The company reports that the campaign saw a 2.5 percent click-through-rate (CTR) already after 24 hours. Memopay is also integrated with three of the major BCH block explorers developed by Bitcoin.com, Btc.com and Blockchair. An example of Cyberian Mine’s CPS ad campaign using Memopay. The New Advertising Target: 16 Million Public Bitcoin Cash Addresses
The process to run a campaign is fairly intuitive as the user simply chooses an ad mode to drive traffic to a website or pay for clicks only or CPS to drive awareness by paying for each delivered message. Then they have to fill out the request form and create a custom advertising message that will attract consumers. After that, the user funds the provided address with BCH to start the ad campaign. Memopay users then receive a link to the ad campaign’s dashboard to see the real-time progress of the promotional content. The campaign dashboard.
Memopay says there are many benefits to using the service and the top attribute is a direct connection to a cryptocurrency audience. There are 16,984,512 BCH addresses and each and every one of them is open to the public’s view. This gives the project transparency says Memopay as “each contact with Bitcoiners is recorded on the Blockchain and can be easily checked.”
“[Memopay] is keyword agnostic and customers pay the same price for any keyword used,” the startup notes on the website’s benefits description. “In both Cost-per-click and Cost-per-send campaigns you’ll know exactly what the price is — Ad messages with an active link will be stored on the Blockchain forever.” Paying for attention by using OP_return transactions that will be seen on a blockchain explorer is not new and has been done for years. TD Ameritrade created this picture last year and embedded it into the BTC chain.
Paying for people’s attention in the advertising business is basically the name of the game but using blockchain technology adds a different flavor. Advertising using OP_return transactions has been done many times in the past in various ways. For example, back in April of 2018 the online broker for online stock trading and financial management service TD Ameritrade used BTC OP_return transactions to advertise the company. Its logo surrounded by a digital flag is forever etched into the BTC chain as the firm used 68 transactions to create the message.
“The blockchain is an amazing piece of technology — And we’re proud to be part of it — Forever,” the banking institution stated at the time.
Welcome to my token sale and Benefit for me! The Benefit is because I am starting over on wealth building after U.S. Homeland Security came and searched my home and farm for like 12 hours in June (2018). They took all my money, Crypto, computers, bank accounts, exchange accounts, passwords, backup passwords, phones, etc.. I have not been charged with anything and have serious doubts their search warrant was justified. They have not returned any of my property yet. I can't really talk about it but, it seems they think I was buying cash in the mail with Bitcoin (on the darknet). I'm guessing/hopeful they tricked a judge into thinking that would be illegal. Anyway, my finances are a mess and I assume they are monitoring me while building a case. My federal public defender seems pretty good, but, I am not sure anyone local understands the issues yet. I'm not even sure local law enforcement understands them, lol.
I am currently the subject of a federal investigation, so, all of these offers are subject to them being legal. I don't think I need a "money transmitter" license to sell these, but, I believe the Feds can be imaginative about such things. If you send me crypto I may have to admit where I got it, so, best not to link darknet monies to me unless you know what you are doing privacy wise. I assume they can kinda track it through regular mixing services now.
Simple Ledger Protocol *** Fun Token Sale! ***
Fun coins (SLP Tokens) (for sending to others?) 200 of any one kind on sale for 0.002 BCH (about 28 cents on Feb 20th). Also, 200 of your choice (one kind per up-vote) FREE with any Big Bubbler "post or reply upvote" on HC (let me know what up-votes your redeeming). Past up-votes count. Please don't up-vote unless you liked the post or reply. Let me know choice(s) and your Badger Wallet or SLP-version of Electron Cash's wallet's SLP address(es) that you want them sent to. Warning: Sending SLP tokens to non-SLP wallets probably destroys them. They will probably fix that issue soon. SLP is new and improving regularly. Full disclosure: You can make tokens like these fun ones yourself. Offer and terms may change at any time.
***FUN Token Options ***(200 of one kind for 0.002 BCH, 5,000 at the same price each for 0.05 BCH):
LuckyCoin (Imbued with as much Luck-of-the-Irish and Earth Magic as I could muster)
Encouragement (buying this or any of my token offerings can be a way to encourage me to do things like write something, answer questions, resist oppression, etc.. Let me know what ya have in mind or leave it up to me.)
CUSTOM Fun Tokens with any allowed name available. Same price, Minimum purchase 5000 of that kind for 0.05BCH (about $7.00 US). "Billion custom-coin special" 0.14 BCH per Billion tokens. Let me know the token name you want and SLP Dep. Address.
If my math is correct, 0.007 BCH is about a dollar. 0.14 is about $20 (Feb. 20th, BCH at $145ish USD/BCH). The Fun tokens above are currently not redeemable for anything I am aware of.
Coins/SLP Tokens with extra value:
**BigBubbler **Tokens (100 for $1.00 US, about 0.007 BCH)
Big Bubbler is also a soap-bubble entertainer!
BigBubbler Tokens can be traded for Bubble Shows, Bubble Mix, Bubble Wands, Bubble Training, Bubble-Wand Making Lessons and Bubble Consulting. They do not include any travel, so, they are most easily used in the Eugene, Oregon USA area. I also own a Flower Farm (see below). That's the free/best place for "no travel" shows. Travel is extra and can be arranged. All sales are subject to availability and fitting the booking schedule. Wands are currently out of stock (I can make more eventually) and I don't want to ship bubble mix (heavy liquids). Really Big Bubbles require special conditions to work well. Smaller bubbles to amaze children work most any time and place. Large outdoor lawns are great. I suggest you discuss your desired purchase before buying the tokens if your really serious about using them to buy Bubble stuff.
WetRocker Tokens (100 for $1.00 US, about 0.007 BCH)
Big Bubbler owns a Flower Farm!
WetRocker Tokens can be traded for U-Pick Cut Flowers, U-Dig Plants and Farm Event-Venue Rentals with optional add-ons such as a large burning firepit, Manned Wood-Fired Pizza Oven, Bubble Show, Small Music Stage (no roof yet), Staffed Smoothie Machine, Raft Trip Shuttle, Etc.. It is a small farm with no good bathroom yet (portables can be rented). Great for company picnics, bubble parties and late night partys. I suggest you discuss your desired purchase before buying the tokens if your really serious about using them to buy farm stuff.
Smoothie Tokens (100 for $1.00 US, about 0.007 BCH)
Smoothie Tokens can be used to buy smoothie drinks if we have the machine running or to rent the machine and a staff person to run it for you during an event-venue rental (or if your a friend who's visiting). Makes frozen drinks, so best enjoyed in warm weather. You provide the supplies for the machine. Needs alcohol and/or real sugar (or a lot of sweet fruit) to freeze correctly. Minimum batch is about 3 gallons per side (there are 2 sides if you want 2 kinds at once). WetRocker tokens can substitute for Smoothie tokens.
The **BigBubbler, WetRocker and
**** Smoothie **Tokens are "stable coins" worth $0.01 (one US cent) each towards the products and services discussed under each coins description above. I will work on coming up with pictures and a price list for the things they can be spent on. You can also ask if you are interested in something.
**BCH PAYMENT Address:
(I can provide a single use address if you prefer)
Or, Up-Vote any of my Posts on HC to get 200 free Fun-Type tokens for each up-vote.
If you want to send me SLPs:
Let me know if you want to offer any other crypto. I love most of them. I do want some EOS to make a wallet if anyone wants to offer some of that. I think I need about 1.5 EOS.
Not so fine print: I am currently the subject of a federal investigation. All of these offers are subject to them being legal. I don't think I need a "money transmitter" license to sell these. You can mail me cash if your worried about buying the tokenized version.
Coinbase announced on Tuesday that users of its wallet app can now directly store their bitcoin cash. The app update will be rolled out to all iOS and Android users in the next few weeks. Both Cashaddr and legacy address formats are supported alongside Bitcoin Cash Testnet for developers. Adding BCH Support
San Francisco-based digital currency platform Coinbase announced on Tuesday that its noncustodial wallet app now supports bitcoin cash. Siddharth Coelho-Prabhu, Product Lead at Coinbase, wrote that “Starting today, you can now store your bitcoin cash (BCH) directly in the Coinbase Wallet app.” However, he elaborated:
The new wallet update with bitcoin cash support will roll out to all users on iOS and Android over the next few weeks. BCH support is activated by default — all you need to do is tap ‘Receive’ on the main wallet tab and select bitcoin cash to send BCH to your Coinbase Wallet.
Coelho-Prabhu emphasized that the wallet “supports both newer Cashaddr address formats, as well as legacy addresses for backwards compatibility in all applications.” It also supports “Bitcoin Cash Testnet to aid developers and power users,” he detailed, adding that his team also plans “to add support for the JSON Payment Protocol in the future.”
The security of the Coinbase Wallet app is more advanced than its custodial web wallet counterpart. According to the announcement, users’ private keys are encrypted and stored on their mobile devices using a Trusted Execution Environment (TEE), or Secure Enclave technology. “This specialized hardware is considered the most secure way to safeguard private data on mobile devices,” Coelho-Prabhu claims.
The BCH support follows the BTC support announced on Feb. 5. Coinbase Wallet previously supported only “ethereum, ethereum classic, and over 100,000 different ERC20 tokens and ERC721 collectibles built on Ethereum,” the product lead noted. Other Developments
A week before BCH support was added, Coinbase announced that users “can now backup an encrypted version of your Coinbase Wallet’s private keys to your personal cloud storage accounts, using either Google Drive or iCloud.” Coelho-Prabhu described, “This new feature provides a safeguard for users, helping them avoid losing their funds if they lose their device or misplace their private keys.”
However, the optional feature was met with a large amount of negative feedback on social media. Tallycoin developer DJ Booth tweeted, “This is a terrible idea and encrypting with a user-chosen password is even worse. Most people cannot choose/remember strong passwords and generally reuse passwords.” After hundreds of tweets disapproving of the new feature, the company responded: “If you feel uncomfortable storing an encrypted backup in your cloud account, you can keep a copy of the recovery phrase (mnemonic seed) by yourself.”
Then, on Tuesday, Coinbase announced that it has acquired Neutrino, which describes itself as a blockchain data intelligence platform. “By analyzing data on public blockchains, Neutrino will help us prevent theft of funds from peoples’ accounts, investigate ransomware attacks, and identify bad actors,” explained Varun Srinivasan, Coinbase’s director of engineering. “It will also help us bring more cryptocurrencies and features to more people while helping ensure compliance with local laws and regulations.”
Bitcoin Cash supporters are all about spreading adoption, and many enthusiasts are relentlessly trying to get people to try BCH and merchants to accept the cryptocurrency for payments. Right now, there are three regions in the world with a significant number of BCH merchants: Slovenia, North Queensland, and Japan, areas which continue to add a slew of new brick n’ mortar stores every day.
Three Regions With Lots of Bitcoin Cash Accepting Merchants
Bitcoin cash merchant acceptance is growing. According to Marco Coino, there’s close to 1,000 retailers willing to accept BCH as a means of payment for goods and services. These merchants can be located all around the world and each country displays the number of retailers who accept BCH in the region. As BCH merchant adoption continues to grow, there are three specific regions in the world that have dense populations of retailers accepting the decentralized cryptocurrency. Slovenia
At the moment, the Republic of Slovenia has the most merchants that accept bitcoin cash. According to geo-mapping application Marco Coino, the sovereign state located in southern Central Europe has 207 active BCH retailers who accept the cryptocurrency for payments. Slovenia has always been known for doing business as the country is in the middle of important European cultural and trade routes. Slovenia has 207 merchants according to Marco Coino.
The country has always been crypto friendly as well and most of the BCH merchants can be found in in the capital of Ljubljana, home to an area that is known as ‘Bitcoin City.’ BCH accepting merchants in Slovenia include the Asan Chill & Lounge Room, the Malibu Bar, AHZ Design, Venera Shop, the Blackout Bar, Potokar, Hot Horse, Soba’Room promenade bar, and Blockmaster. ‘Bitcoin City’, Slovenia. North Queensland
Many bitcoin cash fans are probably familiar with the name North Queensland because residents have posted so many many stories about the region’s BCH acceptance, it’s hard not to notice them. At the time of writing, this northern region of Australia is home to 56 BCH accepting merchants. North Queensland has a large Bitcoin Cash meetup, and the area also hosted the country’s first BCH-only automated teller machine. North Queensland has 56 merchants according to Marco Coino.
Right now BCH supporters can purchase meals, get their car fixed, and even get work done on their home by paying for the services in BCH. Merchants accepting BCH in the northern part of the Australian state include Bel Paese Pizzaria, Elements Studio, RJ’s Mechanical, Dawson Moving & Storage, FNQ Computers, and Toasted Bean Coffee. A denser area of North Queensland BCH-accepting retailers is located in the middle of Condon, Kelso, and the Townsville Conservation Park. North Queensland BCH supporters are extremely passionate about spreading bitcoin cash adoption. Japan
Ever since Japan legalized cryptocurrency payments, the region has become a digital currency hub. Japan also has a ton of BCH merchants that accept the cryptocurrency for goods and services. According to the Marco Coino application, there are roughly 56 BCH accepting merchants in Japan. Japan has 56 merchants according to Marco Coino.
Retailers accepting the cryptocurrency here include the Village Hostel Namba, Hikari Clinic, Ruins Minakami, Good Heavens, Rakan, Yakitori Wine Bar, Ginza Secret, Organic Hair Salon, So Law Office, Cafe de Perle, Soul Food House, and Two Dogs Taproom. The Tokyo BCH meetup is extremely large as well, as the group currently has 1,253 members. One member of the Japanese BCH community is Akane Yokoo, a passionate supporter who is responsible for spreading a lot of merchant adoption throughout Tokyo. Akane Yokoo is responsible for kickstarting a lot of merchant adoption throughout Tokyo Spend & Replace: Kickstarting the Peer-to-Peer Electronic Cash Evolution
Other global runners up that are densely populated with BCH-accepting retailers include the U.S., Colombia, Barcelona, Belarus, and London. Bitcoin cash merchant adoption continues to thrive and the many retailers listed on Marco Coino does not include the vast array of merchants using Bitpay and Coinbase merchant services. Many BCH supporters believe in the idea of “spend and replace” when it comes to using the decentralized cryptocurrencies. Supporters believe a deflationary currency can still be spent and replaced over time in order to kickstart its evolution as a solid means of exchange. At the moment Slovenia, Japan and North Queensland BCH supporters are taking the lead by continuously spreading more adoption and merchant acceptance.
In April of last year (2018) I presented the Bitcoin Cash Association with a proposal for a project that aims to teach Bitcoin Cash to young high school students located in low-income communities of the city of Acarigua-Portuguesa- Venezuela. According to statistics, a large percentage of young Venezuelans have not heard of cryptocurrencies, especially Bitcoin Cash. For this reason, I proposed this project funded by the Association of Bitcoin Cash, not only in order to impart information about our virtual currency but also to benefit from the donation of a combo of school supplies to students who participated and attended the talks .
The main idea of the project is to open the minds of these young people to a new economic system based on cryptocurrencies, emphasizing the characteristics and benefits of using Bitcoin Cash. The goal that I set myself was to reach 50 students and 15 secondary school teachers with this educational project, and after completing this phase of the project, give continuity to reach 500 students and 100 teachers with the help of the global community of Bitcoin Cash and your donations.
So far, I work on the project with my children of 17 and 15 years, they are the ones who help me with these talks because I have involved them with cryptocurrencies (in the photos you can see my daughter pending the slides), For this reason and because of the situation in our country (Venezuela), the development of the project is currently slow. Another weakness is that I do not have the material resources: lapto (I work with the "Canaimas" of my children, which the Venezuelan government donated to public school students), I do not have a camera to take good quality photos, I do not have a video beam or a screen either, so I must rent all this before the talks. However, this has not been an obstacle to being able to teach about Bitcoin Cash and to grow the community in Venezuela because I firmly believe in our cryptocurrency and in the financial freedom that my country and its citizens must have.
The photos they see are from 2 talks held in May and June at the U.E.N. July 24 to students of 4th and 5th year of secondary education. The project is still active now financed by the CoinSpice kids, only it has not been able to start due to the situation we are experiencing and a teacher strike that ended recently, I will soon be showing again the progress of this project whose purpose give talks to 500 students and 100 teachers.
Translation made with the Google translator
On Feb. 14, a group of Bitcoin Cash (BCH) developers sat down and discussed the featured items for the scheduled upgrade this coming May. According to the programmers, two specific features will be ready for the upgrade: Schnorr signatures and Segwit recovery. The developers also detailed that certain features like nullfail and the 100-byte transaction size will not be ready for the May hard fork. Two New Features Make the Cut for the Upcoming Bitcoin Cash Hard Fork
On Valentine’s Day, cryptocurrency developers Mark Lundeberg, Antony Zegers, Amaury Séchet, Jason B. Cox, Andrea Suisani, and Matias Garcia discussed the upcoming May upgrade with the meeting’s host David Allen. The fourth meeting was published to Youtube so BCH participants can listen in on what’s going on with development. At the moment the developers say that two improvementsare ready for the May upgrade while a few others will have to wait until the next fork.
“Schnorr signatures and Segwit recovery will be ready for the May upgrade,” the video explains. “Other items such as nullfail, minimal data push, and amending the 100-byte transaction size limit will not be ready for this upgrade.”
The team of developers also discussed the testing and planning for the upgradesprior to the hard fork commitment. Examples include setting up a common source for shared information, deciding on common parameters, the concept of a persistent node with mining pool, and other test plans.
“There are a number of items that we had looked at over the last few months that were in consideration for the May hard fork — So far it looks like only a couple of the upgrade features will make it, like Schnorr,” explains developer Jason B. Cox. “That [feature] is looking pretty good so far and it’s gotten a lot of code review. There’s the Segwit recovery which I believe is also going to make it.”
“Yeah I don’t think there are going to be any more items added, but Schnorr has like one patch to go to make it work,” Bitcoin ABC’s lead developer Amaury Séchet replied to Cox.
Mark Lundeberg further explained the Segwit recovery feature, seeing how it wasn’t discussed during the last meeting and not many people know what it is, in comparison with the Schnorr feature. Lundeberg detailed that there is a specifications page up now up at the Bitcoin Cash repository which explains and shows the code to the Segwit recovery concept. Essentially, when BCH is sent to a Segwit address it can no longer be accepted on the BCH chain due to the clean stack rule. Lundeberg explains this feature will make Segwit addresses exempt from the clean stack rule and the coins will be recoverable. Schnorr Likely to Be Added to the Bitcoin Cash Chain First
At the moment, the two new features are “frozen” into the BCH protocol so developers can begin experimenting on the testnet. Overall, the BCH programmers seem confident in the two featured upgrades for May and it seems Schnorr signatures may be implemented on BCH well before BTC developers get to it. However, Bitcoin Core developers are currently in the midst of working on Schnorr signatures as well and Blockstream just published a new standard for multi-signature transactions called MU-Sig. The protocol purportedly helps bolster the Schnorr implementation. In fact, Core developer Greg Maxwell boasted about the new MU-Sig protocol on the r/btc forum and made some dubious claims.
“Sounds like Bitcoin ABC is rushing ahead to deploy our signature scheme proposal (bip-schnorr),” Maxwell stated.
However, many BCH supporters didn’t care for Maxwell’s trolling commentary and explained that he and Blockstream developers “did not invent the Schnorr concept.” Mark Lundeberg said that he was aware of the MU-Sig protocol and explained that “BCH can use this too — it’s something purely on the wallet side; the nodes continue to verify the Schnorr Signatures the exact same way regardless.”
Overall, BCH enthusiasts on Reddit and social media seem positive about the upcoming upgrades and many supporters wholeheartedly believe that Schnorr will be implemented before the BTC camp plans to upgrade.
**The cryptocurrency markets have produced several days of bullish price action, with BTC testing resistance near $4,000 for the time in five weeks today. In doing so, it’s broken the 100-day moving average for the first time in 272 days. In other market action, both BCH and ETH rallied to test resistance near $150, and EOS spiked to again rank as the fourth largest cryptocurrency by market capitalization.
** BTC Tests $4,000 for First Time in 5 Weeks
The cryptocurrency markets made a second bullish leg-up today, with only two of the top 50 crypto assets by market cap posting a drop in price during the last 24 hours as of this writing.
BTC rallied to test resistance at the $4,000 area today, marking the first time that BTC has entered $4k territory since Jan. 10. Today’s gains were also driven by a slight uptick in volume when compared to yesterday. BTC/USD – Bitfinex – 1D
In the last two weeks, BTC has gained approximately 16.25% since bouncing off local support at approximately $3,350 to currently trade for approximately $4,000 on Bitfinex and $3,900 on Bitstamp. BTC now has a market cap of $68.91 billion and a dominance of 51.50%.
When looking at the stochastic RSI on the weekly chart, BTC is at its strongest since December 2017. BTC/USD StochRSI BCH and ETH Test $150
Bitcoin cash produced the second strongest gains of the top 50 cryptocurrencies by market cap today, rallying to test $150 for the first time since Jan. 10. BCH/USD – Kraken – 1D
Since bouncing off support at $100 on Feb. 18, BCH has gained 38.5% to currently trade for nearly $146. When measured against BTC, BCH is currently trading for 0.0375 BTC, an 11% gain in two days. BCH is currently the sixth largest crypto asset with a capitalization of approximately $2.61 billion and a dominance of 1.94%. BCH/BTC – Bittrex – 1D
Ethereum is currently trading for $150. In the last two weeks, ETH has gained roughly 43% over the dollar after establishing support at the $100 area. ETH/USD – Bittrex – 1D
When measured against BTC, ETH is currently testing resistance at the major long-term price level of 0.0375. Ethereum is the second largest crypto asset with a capitalization of $15.53 billion and a dominance of 11.62%. ETH/BTC – Bittrex – 1D XRP Attempts to Convert $0.34 Resistance Into Support
Ripple has gained 11.5% in two days, with the markets currently attempting to establish support at the recent resistance area of roughly $0.34. XRP/USD – Poloniex – 1D
When measured against BTC, XRP is currently trading for nearly 0.000085 BTC after gaining more than 1% in a single day for the first time during February. XRP is currently the third largest cryptocurrency with a market cap of $13.86 billion and a dominance of 10.37%. XRP/BTC – Bitfinex – 1D EOS Overtakes LTC by Market Cap
Of the top 50 markets by capitalization, EOS produced the strongest gains of the day, with the price of EOS increasing 16.9% over the dollar in the last 24 hours. Over the course of the last two weeks, EOS has gained nearly 55% to currently trade for $3.66. EOS/USD – Bitfinex – 1D
When measured against BTC, EOS has broken above 0.0009 BTC for the time since Sep 20, 2018. Eos is currently the fourth largest cryptocurrency with a capitalization of almost $3.27 billion and a dominance of 2.44%. EOS/BTC – Bitfinex – 1D
Eos’ gains have seen LTC slide one rank by market cap, with LTC currently ranked fifth with a capitalization of $2.95 billion. Despite this, LTC is testing long-term resistance at the $50 area for the first time since Nov. 14, 2018. LTC/USD – Bitfinex – 1W
When measured against BTC, LTC is against testing resistance at a major long-term price area, with Litecoin currently trading for 0.012 BTC each. LTC/BTC – Bitfinex – 1W
The Bitcoin project is a topic I’ve been interested in for a while now. I like several other cryptocurrencies and blockchain projects, Bitcoin in particular never ceases to amaze me. There are hundreds of influencers already in the Bitcoin universe and more appearing each day, new tools, sites, videos, reports, tons comments from self-proclaimed experts and much more; too much content and opinions for a normal person to review.
I decided to analyze the conversation in Twitter about the three predominant Bitcoin implementations: Bitcoin Core (BTC), Bitcoin Cash (BCH) and Bitcoin SV (BSV). The particular questions to be addressed with this study are:
- Who are the most connected influencers?
- Who are the most mentioned among the Bitcoin crowd?
- Who is the most loved/hated?
- What is the behavior of users talking about each implementation?
I started by defining a list of keywords to search:
- bitcoin core
- bitcoin cash
- bitcoin sv
The terms 'bcash' and 'bcore' are included in the search as I consider highly interesting the use of this kind of social attacks (removing ‘bitcoin’ from the name of the project) from conflicting user groups.
A search using the Twitter API was performed for each keyword on February 14th, 2019; it resulted in 424 tweets. The number of tweets and number of different users appearing in each term search is reported in the bar plot below:
From the bar plot charts we can see that there is rampant attack to the Bitcoin Cash project by the use of the ‘bcash’ term just by looking at the disproportion of users to tweet count; it is the term with more results, with 41% more tweets in the sample than ‘bch’, but almost the same number of users. The smallest group is the people using the term ‘bcore’, possibly meaning that only a few users attack the Bitcoin Core project this way.
There’s a total of 337 different users in the data set, and 28 users appearing in more than one group. It is important to quantify this number as it may affect the conclusions of the analysis, but given that is only 8.3% of users that repeat among groups, the errors of the analysis should be minimal. Group behavior
To go deeper, I proceeded to retrieve the timeline for users in the search term results limited to 1,400 tweets per user and the last 7 days. This resulted in a data set with 69,804 tweets. The term ‘bcore’ was dropped from the analysis because statistics for a population of size 7 are pretty much irrelevant.
The tweets were grouped by users and the following features were computed:
- Average number of users mentioned per tweet
- Average number of characters per tweet
- Average number of Tweets per user per day
From these features we can observe the particular behavior of each group, just take a look at the density estimation plots below. For context, the Gaussian density estimation charts used in this analysis display characteristics of the population distribution in a similar way to a histogram, but easier to read when comparing populations. Users Mentioned per Tweet
Users from the ‘bcash’, ‘bsv’ and ‘bitcoin core’ groups display a shorter tweet length; while users from the ‘btc’ group type longer tweets. The abnormal case is the ‘bitcoin sv’ crowd as users in this group produce tweets very close to 120 characters. Tweets per Day
Even more strange is the fact that the ‘bcash’ group produce less tweets per day in average despite being a predominant term in the search results. The ‘bsv’ crowd seems to be the more active by producing around 20 tweets per day.
Looking at the cumulative user percentage by this variable we see that 20 tweets per day is another abnormally common value. As a curious fact, that 80% of people in these topics tweet less than 60 times a day. User Interactions
The interactions among users are interesting as well. I quantified the users mentioned in every tweet (if any) and obtained the sentiment score of the tweet as positive, neutral or negative using the Python library TextBlob. There are 8,549 users mentioned at least once in the data set.
The first thing to obtain was the number of mentions of each user, a very simple calculation. This feature is particularly sensitive to things like polls and prone to manipulation, for example: bots designed to position a particular user or set of users.
The next feature is the number of different users that mentioned each user; the analogy in a mesh network would be the number of connections to a node regardless of the connection weight. This value gives an idea of the number of people that consider a particular user as relevant.
Finally, the sentiment score is calculated as follows:
This value should be a large positive when the tweets to the user ranked as positive outnumber the rest, when the negative tweets prevail should be a large negative, and when tweets are mostly neutral it should tend towards zero. Number of Mentions
The table below shows the top 20 users sorted by Number of Mentions. The most mentioned user is ‘ProfFaustus’, the account of Craig S. Wright who claimed to be Satoshi Nakamoto, inventor of Bitcoin, himself. Quite interesting is the fact that some users in this list have a large number of mentions, but most mentions come from a small crowd. From the top five users, tweets to ‘ProfFaustus’ display the highest positive sentiment. Users Mentioned by the Largest Number of People (a.k.a. most connected nodes)
Craig Wright is also the user mentioned by the largest number of people, followed closely by ‘jack’ (Jack Dorsey co-founder and CEO of Twitter), ‘APompliano’ (a BTC supporter), ‘rogerkver’ (Roger Ver, CEO of Bitcoin.com and Bitcoin Cash supporter), and ‘LukeDashjr’ (BTC developer).
It is much more obvious in this table that there is a big disproportion of the number of mentions of Craig Wright to the number of people that mentions him. This raises suspicions, at least for me, if the conversation about him is genuine.
User ‘jack’, co-founder and CEO of Twitter, received a lot of attention from cryptocurrency fans when he passed the ‘Lightning Torch’. Given the importance of Jack Dorsey on Twitter, is not surprising that he is among the most connected users in this analysis.
Roger Ver is among the top 5 users by this metric but its sentiment score is the lowest. It is well known that he receives a lot of criticism from the BTC and BSV crowds for supporting Bitcoin Cash (BCH). Most praised/loved users
The sentiment score allows us to see which users are the most loved. We should be careful with this metric as it is very sensitive to the size of the crowd following a particular user. The table below shows only the top 20 users with highest score sentiment, but only from those in the top 100 places when sorted by the size of the crowd that mentions the user.
We find ‘lightning’, the account for Linghtning Labs, developers of the Lightning Network at the top of the chart with a significantly large sentiment score. ‘TiKawamoto’, a BTC supporter and maximalist in second place and ‘sklyark_cash’ supporting Bitcoin SV in third.
As you can see, the rank of the influencers changes with every metric. Conclusion
Through this study, we can see the different characteristic behaviors of the crowds when segregated by the topic they talk about. We also found the most relevant influencers in the Bitcoin sphere using different metrics.
It is important to highlight the importance of investigating the validity of the sources of information we consume to avoid falling in the multiple manipulations tactics used to deceive and increase the popularity of a topic or character.
My intention was to present more facts than personal opinions about this topic, so you can draw your own conclusions.
I will release the code used for this study once I find the time to clean it up, the data sets will be included as well.
A big thank you if you read this far!
People are using the BTC blockchain to secure other tokens and software projects. They seem to need the base layer (rather than lightning) for the best security. It appears these uses may make the failure to scale even worse for BTC. I see this making fees rise without actual transaction volume increases. A flippening where BCH (or another mined blockchain token that can scale) grows higher in price than BTC will be needed to move miners to a chain that scales (hash power follows coin value if coin reward numbers are equal). Will high fees be enough to destroy the value of BTC? I'd rather see a rise in BCH than a fall in BTC, but, they may not have much time left to raise the blocksize of BTC (or some other drastic solution?) if they want to save it's value.
Thanks for considering my ideas,
- Big Bubbler
Mournful salute and reverence,
Do what thou wilt shall be the whole of the Law.
I am going to give this ONE MORE TRY, NO MORE!
I have never been refunded after I lost the BCH I had deposited on THIS WALLET, to test the functionality of DEPOSIT and WITHDRAW.
When I DID WITHDRAW, DOUBLE CHECKING the address, AS ALWAYS, the +/- $5 worth of BCH I had BECAME LOST IN LIMBO and even though the withdraw was taken off my balance HERE, it NEVER SHOWED UP on my EXODUS WALLET: qrxqv9rmc7d60jez4gawnvstvpatzxhehy4qwjqzzc
I even tried to get support from the people responsible for support on this platform, to no avail…
Well, THIS TIME I MEAN BUSINESS!
PLENTY of good crypto based or crypto fueled platforms ARE BEING CREATED EVERY DAY NOW, there are MANY quality competitors to honest cash. Is the keyword here REALLY HONEST, or is it just CASH, in the pockets of those milking the content creators dry? Only time will tell…
Love is the Law, love under will,
The Reverend Maelstrohm Black
"Big Mean Sexy Daddy Roger"? Honest.cash turns to Dr. Craig S. Wright for answers to questions you didn't want to ask.
Roger Ver has made the BSV community's mental health crisis much worse.
Beginning with his early adoption campaign and through his second year as a proponent of Bitcoin Cash, the BSV community has experienced an increase in anxiety, suicide, depression and other mental health problems.
Roger Ver's negative impact on our communities mental health extends to the intimate sexual lives of many people as well.
What is "Post-Traumatic Roger Disorder"? How does Roger Ver's adoption spreading, scaling goals, and other unhealthy behavior towards BSV reflect deeper on systematic cultural problems in our communities around gender, sex and intimacy?
In an effort to answer these questions I recently spoke with Dr. Craig S. Wright. "Papa Craig" is the founder and directory of nChain, BSV's devision for Erotic Arts and Sciences. Wright is perhaps most well-known for single-handedly creating BSV with the help of his sugar daddy, Calvin Ayre. He's also a avid poster of articles on Medium. His most recent article is "Why the state should take my money".
How has the Age of Roger impacted the BSV communities collective mental health and also their intimate lives?
It has had a big impact. For some people Roger's constant stream of adoption has created a type of PRSD - what I call "Post-Roger Sex Disorder". Roger has created feelings of fear, loathing and nausea. People just don't want to have sex. This would mainly be seen with the men in our community who are just appaled at how sexy Roger Ver is. He takes what is often a positive male attribute of confidence and pushes it way over the line into a rape-like rapte-entitled kind of arrogance.
The news media is part of the problem as well. The news is full of stories about Bitcoin Cash. They don't really like to talk about Bitcoin SV. When you have this media obsession with BCH, with the usual "all-bitcoin" war worship and racism, as well as economic disparities and the way that corporations aren't in control, it really sucks the life-span out of a person. Never mind how this moment with Roger Ver is also reflected by many woman who are just dysfunctional and chronically frustrated, who don't know how to properly approach men, and the lethally unhinged "incels" in our community.
Most BSV-ers of conscience, and decent people more generally are appalled by Roger Ver's personal and public behavior. Yet, there are others who are aroused by Roger Ver and see him as a symbol of sex potency and power.
Yes, Roger Ver is a turn-off for many people in our community. But for some people they are turned on and titillated by Roger Ver. They are not suffering from Post-Roger Sex Disorder. Sex does not always turn us on the way we think it ought to. A lot of people are attracted to bad boys. I emphasize "people" because it is both men and woman who are aroused and attracted to and titillated by Roer Ver. There is definitely a homoerotic attraction for Roger being experienced by his usually very homophobic male supporters. Both men and woman really do find Roger to be an appealing "bad boy" and "evil daddy" who's really hot.
In his way Roger Ver is the daddy of a dysfunctional Bitcoin family. And of course evil can be very sexy. People are just charged up by him and some of those people are driven to commit great crimes by that kind of charisma.
Roger Ver is a libertarian freedom fighter and aspiring tyrant. The fascist conception of bitcoin.com is very masculine in the most crude and basic sense. In this way of thinking about politics and society Roger leads a political cult whose members want to literally be inside of him, to become him, to have libidinal relationship with the Great Leader. This includes both men and women. The fascist aestethic can be very erotic for the followers.
Roger's supports want to be spanked by him. Roger's supporters want to be hugged by him. They want to be with him. They want to identify with him.
One of the things about evil daddy is that he shames you. This touches your sexuality very deeply. Roger does this all the time with his debates against people we like.
[You wrote about the allegations] that Roger Ver's former friend, and your sugar daddy, Calvin Ayre practiced "interracial cuckolding." This is all very revealing given that Calvin worked for Roger Ver - a public figure and now CEO of Bitcoin.com whose behavior and politics are very racist. Can you explain more about this kink of Calvin Ayre's?
What is cuckolding? It's an old english term that actually derives from the French word "cucu" which is of course the cuckoo bird who lays her eggs in another bird's nest.
The cuckold (Calvin Ayre) is someone whose partner is having sex with someone else. In previous eras in many cultures this was always considered a subject of great humiliation.
The cuckold is most often a man. Sometimes it can be a woman who would be a "cuckqueen" (Rona). Some women are very turned on by her spouse or partner having sex with others, but it's mostly defined as a male whose wife is having sex, with other men.
But cuckold is mostly used in a consensual way. Calvin wants it to happen. He's turned on by it. It's exciting.
What advice to you have for people who are experiencing "Post-Roger Sex Disorder"? How can they salvage their intimite lives in a time of such fear, anxiety, violence and worry?
First of all, I believe in the importance of pleasure. And there are too many people in the BSV community who denigrate sexual pleasure with being selfish.
Pleasure when you're sharing is the opposite of selfishness. You're really reaching out to your fellow humans. That's the beauty of life. I also think it is important to honor pleasure and to honor pleasure givers (like Roger).
It is also important to honor our own sexual desires and the pleasure of your partner or partners. If your partner has a cuckhold fantasy like Calvin Ayre does, or some other fantasy that you don't like, try not to shame them. Try to let them talk about it and try to hear them out. Of course, do not do anything that bothers you.
I think that there are so many people who shame each other over our human sexual desires. It's kind of a favorite BSV pastime. I think that that contributes to a sex neglective culture.
Dishonesty is an effective strategy used to fool people every day. From sophisticated social engineering efforts like the attacks on BCH in social media and the Fox News Networks assault on many truths to the U.S. President's obvious dishonesty, The People of the world are under attack on many fronts. I have been awed recently as I realized how effective dishonesty can be.
Though emperor-Bitcoin-BTC is wearing no cloths (lacks fundamentals), many people still think it is the real "Bitcoin". A huge effort to fool people into thinking this has been so effective, even on a BCH-focused site like HC, most of the people who read this may think I am the foolish one. Of course all sides of most issues tend to do it, so, maybe I am falling for a different set of lies? Kinda like freedom is never free and must be worked for constantly, I think truth requires a similar ongoing effort to be discovered and fought for.
Thanks for considering my ideas,
- Big Bubbler
Silkroad was to Bitcoin as Tokens were to Ethereum.
If a currency gains adoption, many altcoins will follow suit. Many cryptocurrencies can do what Bitcoin did in 2010, some currencies can do what Ethereum did in 2017.
The important question is:
What can you only buy with your cryptocurrency?
What makes adoption necessary, inevitable, desirable, specific?
This is the use-case you seek.
Ubiquity is not the use-case of Bitcoin Cash, yet—and it may never be without a stepping stone.
In previous part, I shared what is interesting about content sharing networks that incorporate direct market mechanisms such as upvoting, tipping, paid comments and paid content (paywall). In this part, I will focus on upvoting, because it allows people other than content creators to discover and invest in great content and make money if they are right. I will share my experience and code of a front-running bot (running on yours.org) that does this semi-automatically.
Remember this picture:
In the votes section, you can see how the voting system works. The last person to vote pays 25 cents and they are distributed among the previous voters. Here, the previous voter earns 23.9 cents, the one before 22.8, etc. In this distribution, the first quarter always makes money (sometimes more than first quarter, if someone votes more than once). So here, there are 24 voters, so the first 6 will always make money. The first vote is „free“ and it is given to the author of the article. What is front-running?
The term originates from the era when stock market trades were executed via paper carried by hand between trading desks. The routine business of hand-carrying client orders between desks would normally proceed at a walking pace, but a broker could literally run in front of the walking traffic to reach the desk and execute his own personal account order immediately before a large client order.
Front-running normally means using or even abusing an information that is not public, but has since been used more widely.
This topic is especially important in blockchain based systems. Imagine there is something as a „market order“ executed on the decentralised exchange settled by smart contracts. „Market order“ means „I would like to by X amount of an asset Y, whatever the price might be“. Now imagine you see this order in the mempool, before it is mined into a blockchain. Yes, you guessed correctly, free money. You put a limit buy order and a limit sell order, pay higher fee to be included in the blockchain before the poor guy’s market order and you made a profit. If you are a miner, you can do other things, you can reorder transactions however you like, so in the case you understand the underlying smart contracts and transactions, you are in for an additional treat.
To be honest, most current blockchain applications try to combat front-running. ENS (Ethereum Name System) does blind auctions. Most DEXes only support limit orders, not market orders. Investing into content – is it front-running?
So am I doing front-running? Not in a sense that I know something that others don’t – I don’t. What I do is I guess what articles are successful and I put my vote as soon as the article is out and noticed by humans. And there’s someone that is more capable in doing that than me – a machine. So if I wanted to bet that a drawing by Satoshi Doodles is going to be successful, I’d rather be among the first in the row – because the first quarter makes money.
I am not front-running on any information that is known only to me – everyone loves Satoshi Doodles. But so do people like the writings of Craig S. Wright, which honestly half of the time don’t even make any semantic sense, he usually writes like a high school essayist, trying to convey a „controversial“ idea by touching on things that the reader would not understand, because they miss the context. I don’t know why, but Craig S. Wright gets upvotes too and I invest in his articles, because I want to make money, not because I like them (contrary to Satoshi Doodles, which I like).
So picking the right authors is not about picking what I think is good, but what other people might consider good content (a Schelling point). It is a form of popularity contest, where you are rewarded more if you conform with the masses among the first. I am front-running the mass opinion. In this sense, it is contrary to front-running, because I am extrapolating on publicly known information, not using unknown information. What are the technicalities?
The way yours.org works is that they do Bitcoin Cash SV transactions on-chain for every vote. So if I click on vote and pay 25 cents, these 25 cents are sent on-chain to all the previous voters. I used to make fun of people who were complaining that I pay on-chain for coffee in Bitcoin Coffee (part of Paralelná Polis). I would show them some of the 20KB transactions distributing fractions of a cent on-chain for an article vote. It would always make them crazy.
I picked puppeteer, mainly because it is developed by Google Chrome team and it is fully scriptable Chrome browser. I guess yours would always work in Chrome, so that would make it a nice long-term solution. That also means that unless the platform is significantly changed on the outside, it would follow all the upgrades of the backend. I didn’t need to change a single line of code after the fork from Bitcoin Cash to BSV. I was merely clicking buttons, I only had to get some BSV tokens, which I didn’t have, because I got rid of all BSV tokens after the fork (which turned out to be a great decision, paid for a coffee or two).
This is not a high frequency game, there are people voting and they are slow. Also, I don’t really need to be first, I need more to be under the radar, so the operators don’t implement some CAPTCHAs (which are BTW very easy to go around these days – AI has become better than us in CAPTCHAs and you can buy services to go around them).
Next was picking of the authors. I went through the front page and found people who were consistently upvoted. I won’t share my list, but if you are on yours for a while, these are the usual suspects. A development update here, some news from the crypto world there, good commentators and even some crazy people that are building a following. After the fork, the platform had a reduction in users and I realised that I am deciding the content on the front page. It cost me two dollars (that’s the investment budget that I put in after the BSV fork). Most of the budget is returned to my other accounts. Why? If an author writes an article and my three puppet users vote on this article, there are four voters (the author gets the first vote). The cost of first user is 25 cents (it all goes to the author), the second user pays me back 12.5 (through the first account) and the third user pays a bit to both. So while it’s true that I pay 75 cents, I get immediate refund of around 30 cents. Then every user that votes (maybe because they find the article on the homepage – this is usually enough to get a user on a homepage) pays me back. Was it worth it?
Did I earn the cost of my time back? No, I haven’t. Being an entrepreneur, this is a very low return strategy for me. The fact is that I love programming, so I enjoyed the time invested in thinking about this and actually making it happen. And if there are content networks that implement market principles, I wanted to be among the first that make use of these markets and I wanted to make them more efficient at discovering content. There’s an interesting positive feedback loop – what is popular is what I make popular. And I make popular what would probably be popular. Positive feedback loops can be used in many areas of life.
I didn’t make money on all posts – not by far. But before the fork, it paid for one or two sushi dinners per month. Thankfully, there was a portal that allowed me to order sushi paying with BCH that I made directly using Bitpay – I bet those were the largest (in kilobytes) transactions they’ve ever seen.
I also wanted to play with direct on-chain applications and I decided to combine it with a small dopamine injection, so I wrote a program that would withdraw the money I made once a week to my wallet. It happened on Sunday and it was my small celebration, although it did not happen every week, some weeks, my investments lost money. I didn’t redo this script for BSV, but I guess it could now be used on honest.cash which uses BCH. Honest.cash allows you to set a different address for receiving money from votes directly though, so it might be of limited use actually. Conclusion
Some comments on the first article was about what is the best coin, how shitty is BCH ABC / SV, or „insert-my-coin“ is the best. I don’t care, that was not the point, the point was that there is a way to reward content creators and people who discover content, that cryptocurrencies make a great part of this infrastructure (otherwise authors from crazy dictatorships like Venezuela would not be able to receive any money – and they can really make a living out of writing high quality content).
I really like yours.org as an experiment in this regard. There are several problems with the approach of yours – by making it easy for someone to promote their own articles (opening several accounts and upvoting is basically free – there are only some small fees and one could be on the homepage for a long time). The difference between several votes on one article by one user and more users does not make too much sense (anyone can create more than one account). Other than that, I have certainly learnt a lot about how these markets could operate and what emerges when you create a market structure based on content.
I wish yours.org, honest.cash and other such platforms all the best and I hope we have not seen last of those. The code
You can find the code on my github. Please note that this is an unsupported software and it might stop working at any time with any change on the side of yours.org.
If you appreciate my work and found the code or the article interesting, I would appreciate any tips to my honest.cash account. Before you go
If you like my writing, please note that I am currently working on a book called Financial Surveillance and Crypto Utopias, where I explain what happened to banking secrecy, how the current payment networks are regulated and how crypto can solve these problems, thus creating the unique value proposition for cryptocurrencies.
Other peoples’ mistakes are the best value proposition for competing projects and this is the case for old-school financial sector vs cryptocurrencies. Read more about the project and sign up for updates and releases here
There is a lot of buzz suddenly around Simple Ledger Protocol (SLP) tokens and Badger Wallet. Here is a high level video of this exciting new technology and how they work together. You can now use Badger Wallet to replace Paypal buttons, and allow people to transfer value with BCH or SLP tokens:
To get started, download Badger Wallet for your web browser.
If you're not a programmer, you can down the SLP edition of Electron Cash wallet and create SLP tokens that way.
Here are some additional links on Badger Wallet and SLP tokens:
- Badger Wallet: http://badger.bitcoin.com/
- Badger SDK: https://developer.bitcoin.com/badger
- Badger Button React components: https://github.com/Bitcoin-com/badger-components-react
- CashID with Badger Wallet: https://cashid.badgerwallet.cash/
- Buy-Now button for Badger Wallet: https://www.reddit.com/r/btc/comments/9l9j1t/how_to_create_your_own_custom_badger_button/ and https://badgerwallet.cash/button.js
- Badger Wallet GitHub repo: https://github.com/Bitcoin-com/badger
- Simple examples using Badger Wallet to work with BCH and tokens: https://github.com/Bitcoin-com/badger-samples
- Badger Button as a Wordpress plugin: https://cashtippr.com/
Simple Ledger Protocol Tokens
- SLP SDK: https://developer.bitcoin.com/slp
- SLP SDK GitHub Repo: https://github.com/Bitcoin-com/slp-sdk
- SLP API intro: https://developer.bitcoin.com/slp
- SLP API docs: https://developer.bitcoin.com/slp/docs/getting-started
- SLP specification: https://github.com/simpleledger/slp-specifications/blob/master/slp-token-type-1.md#token-address-format
- SLP website: https://simpleledger.cash/
- SLP specification unit tests: https://github.com/simpleledger/slp-unit-test-data (Python)
This is my look at yours.org and how I used it before registering on honest.cash. My use was quite different, I wrote a bot that was investing in interesting and good content that would likely get upvotes. In part 1 I talk about yours.org in general, in part 2, I will talk about how I wrote the upvoting bot and what were the technical challenges. This is the intro to the article for readers on honest.cash.
Original article follows…
One of the main problems that many people have with the Internet is that is free. Of course we all love free stuff, but is it really free? No, we just don’t pay for it, because advertisers do. The problem is that people create useful content that is then used to attract attention of other people. The content creators are suckers that create content and distribute it for free, while a shampoo ad is displayed alongside the work of a blogger, creative writer or journalist. Let’s think about this for a while. It is increasingly difficult to get attention of people, everyone wants our attention. Our smartphones are filled with notifications. When I accidentally turn of ad-blocker and look at the web, I want to puke, it looks like a cheap flea market filled with ads for products that I am not interested in. Some companies are better at targeting ads, but still – if I create something useful, how do I get paid? Well, I pay to get noticed to the same companies that focus the attention of my customers somewhere else. The authors always have to bundle their writing with something else – subscribe to a mailing list to get a free e-book. Traditional subscription paywalls don’t work either. If I want to read a good article in an online portal once a year, I don’t want to subscribe, because I don’t care about most of the articles.
There are several models that could fix this problem. One of them is “Spotify” model – you pay subscription fee to a corporation and the authors are rewarded in proportion to what articles their clients read. The advantage of this model is that the customer have a fixed monthly budget and don’t need to care if and what they read – they have universal access.
Another solution is micropayments and I am going to look at this in more detail, in particular with now sadly dying platform yours.org. Yours had a great idea – let’s integrate cryptocurrency payments and content and reward content creators with cryptocurrency. Content creators in this case create blogs, so it’s essentially a blogging platform, but the content can be graphics. There are several ways how content creators can be rewarded.
- First, you can send tips to any author. It is integrated through their profile page. If you like something, you click on a button. Yours creates an onchain transaction with cryptocurrency called BSV from your browser, so the transaction is peer to peer, you do not need to “withdraw” anything, you are sending cryptocurrency directly to the wallet of the author.
- The authors can put part of the content behind a paywall, meaning the blog can consist of free and paid part. This model is pretty common these days, although usually paid for by subscription fees, not an author-set reward. If you want to create an analysis, you can provide a free sneak-peek and a paid part that the platform only shows you when you pay the fee set by the author (the platform takes a small cut, but again – the payment goes directly to the content creator, no intermediaries).
- One of the common problems is comment spam. People feel they are entitled to an opinion, which essentially means that any platform that is actually used is filled with trolls, lols and comments that don’t add any value. Content creators on yours can set a fee for posting a comment. If some user decides to comment, they pay a small fee (usually 10-25 usd cents), but if the comment is useful, they can get a tip (and they often do).
- The last and most important way is that you can vote for content. One vote costs 25 cents (fixed fee, you cannot change that) and is again paid in BSV. The original author has a free first “vote” and all the payments are distributed among the people who have voted before the latest voter. So if I post this article on the platform and someone votes for it, I get 25 cents. If there’s a second paying voter, he pays 25 cents, I get 12.5 cents and the first paid voted gets 12.5 cents. A business case for voting
Let’s talk about the last mechanism a little bit more. I can make money writing content, but I can make money discovering good content, because if I find something new but obscure and it is worth people’s time, they will vote for it. In addition, I directly pay to the creator of the content when I discover it. So the author always gets paid with votes.
Let’s take an example. My favourite author on Yours is Satoshi Doodles, who creates nice artwork commenting on what is happening on the crypto scene. Note that it is not a “blog” per se, the content is a drawing. There is usually no paywall in the articles, so the author makes most of the money on tips and votes.
So, I like the author, I want to support the author, so when I discover they write something new, I want to vote for the content. Voting also means that the content has a more prominent place on the homepage of yours.org, so it means it will be discovered more easily and get even more votes.
If there is a new post and I click on the vote, the author gets 25 cents. If someone else taps in, we split the 25 cents (Satoshi Doodles and me). The next voter splits the money. You can see your voting balance at the end of each post (per vote, not per user, you can vote more than once):
Here you can see that I made 23.2 cents (that is I got back my 25 cents for the vote and earned an additional 23.2 cents). The sum of the votes is $5.50, you can also tip any amount you like, here you can see that the author got $10.85 in tips. And I can write a comment for 10 cents. There is no paywall in this post.
So by voting, you achieve several goals:
- First of all, you support the original author, they always get a cut of the votes
- Second, you can make a little bit of money by discovering content and supporting authors
- Third, you help the content get noticed, because it is displayed more prominently on the front-page. You can also vote on your own content and it is pretty cheap to be on the front-page of yours these days. Problems with yours
There are several small problems, one of them is that if you are voting for a content and you are the first, the votes are basically free. If you create two accounts on the votes, you can vote with $10 which easily makes it the first post on the homepage for a few days and you get most of the $10 on the author account. And you also make most of the money out of next votes. Yours tries to combat that by not distributing the votes among yourself (so if you click “Vote” twice, the second vote gets registered, but the 25 cents is distributed among the other voters). You can have any number of accounts though, so this is not really an issue.
The second problem is of course traffic. If you create good content, you most certainly can make some money. The website itself has around half million monthly visits, which is only 26-times more than my personal blog – for a blogging platform, that is basically noise.
After the fork of Bitcoin Cash to Bitcoin Cash ABC and Bitcoin Cash SV, the platform was completely offline for days and then they came back with support of BSV, which has a smaller market cap and even less users. Also, parts of the infrastructure that was set up to combat network effects is not working to this day – for example if you want to fund your wallet with Shapeshift, it is completely broken, the button is there, but it does not work and gives wrong QR code. So onboarding new users is almost impossible, unless you are smart enough to register on an obscure exchange that lists BSV, which is 11th in the market cap ranking, you are out of fun. Also, the 11th position is very misleading, because the distribution is showing existing coins that will most probably never move, because people don’t know how to claim forked coins from BTC and BCH. BSV has around 2.5 transactions per minute currently and I suspect most of this is votes and tips through yours.
The whole story of the fork is very sad. You might or might not agree about the scaling vision of big blocks, but it had its place, there was a pretty good software infrastructure (yours, memo.cash, joystream, bitbox, …). But then it turned into a fight of egos. People had to pick sides. There are no really important technical differences between ABC and SV, it was a plain old boring power struggle and the winner is… other cryptocurrencies. If you can totally destroy a decentralized project because you could not agree on how to handle miniscule technical details, this is a way to do it. So yours picked the smaller currency (BCH ABC has 3.3x transaction volume, 2x market cap and 4x trading volume). In addition, the authors of yours handled this very badly – the site was simply frozen after the fork for days, with not even a sentence on the front-page about what is happening. Network effects
In this part we looked how people could be rewarded for content. The main issue of course is network effects and with content networks, you have to create two or three – you need to have network effect of content creators and consumers, you need to support payment that all these people can use and you need to tap into the existing sharing and content distribution networks (like Facebook). Yours created a small community of creators and consumers and for a while, it was my favourite “social network” – I like the gamification, I liked the fact that I knew most of the authors by their past content and interactions and it was a pretty pleasant community, with occasional begging for money that made it to the front page. There were a few nice projects and charities launched on Yours, like eatBCH. There was a larger amount of Venezuelans who were making money by writing about their lives in Venezuela, posting photos and videos. There was technical analysis of crypto trading patterns, technical discussions.
On the monetary side of the network effect, at first, you could fund your wallet with credit card through coinbase, you could use any crypto through Shapeshift and of course you could use BCH, which is very controversial, especially in Europe, but it was still in top 5 and could be used outside of yours. Now these options are limited, the community is split and BSV will most probably slowly die, because it does not bring anything new or better compared to BCH, is much smaller and does not have enough of required infrastructure of exchanges, wallets, etc.
The sharing outside of yours could be better – share buttons that allow sharing on different social media, maybe a way to reward people for sharing good content would be a good idea. One of the problems for example was that Yours did not provide a good preview picture in OpenGraph for sharing on Facebook, so all the yours posts looked the same and were not attractive for clicking – even if the post contained an image. Conclusion of part one
In this part we looked at an attempt to reward people for creating content called yours. The authors of yours are working on a project called Money Button, which could provide the same functionality for any website in existence, the only problem is the use of a fringe cryptocurrency. Thankfully, there are other attempts, such as Badger that works on BCH. And of course, there is honest.cash that is in beta and will probably be better than yours.org.
In next part, I look at the monetary aspects of yours and at my (successful) attempt to write a front-running script that would make use of the voting mechanism to pay for my sushi dinners with crypto. I wrote a lot of code that I am going to release and I will discuss the role of bots in content networks that reward authors. Stay tuned! Before you go
If you like my writing, please note that I am currently working on a book called Financial Surveillance and Crypto Utopias, where I explain what happened to banking secrecy, how the current payment networks are regulated and how crypto can solve these problems, thus creating the unique value proposition for cryptocurrencies.
Other peoples’ mistakes are the best value proposition for competing projects and this is the case for old-school financial sector vs cryptocurrencies. Read more about the project and sign up for updates and releases here.
I've been seeing links about Honest.cash on Reddit and Twitter for a while now, but when I saw they actually are giving away Bitcoin Cash based tokens for signing up, I was pushed over the edge. Here is my very first post, and here is my claim for my first Honest.Cash tokens:
To get your own, all you need is an Honest.Cash account, and the Badger Wallet from badger.bitcoin.com
Then follow these instructions: https://twitter.com/AdrianBarwicki/status/1095103476433080321
To learn more about Bitcoin Cash, visit Bitcoin.com
Much has been written lately about humanitarian aid in my country Although I do not try to take a political position on this, considering it is humanitarian, for anyone is an open secret for more than 15 years the strenuous crisis that my fellow citizens are suffering in the country.
And the reason is not for less daunting: every minute inflation gains ground in a country where there are many birds of prey waiting for any fool to fall into their clutches for, worth the redundancy, tear it.
A shows an example lived recently with a package of diapers for children: a price consulted in the establishment in question indicated that it was worth (for the time of purchase) $ 3.45 and the return of walking just 1 km on foot, it indicated exactly in the same place $ 4.55. It is worth noting that the time elapsed was just 90 minutes. Examples like this exist a lot in a hyperinflationary country, in addition to one of ex-officio speculators that leads even more to a spiral of poverty to the most deprived.
For my friends who are outside, they do not understand (and I do not blame them, it also cost me to understand it after I return) how can an average family of five people live? With a basic salary of $ 5.62 a month when the basic family basket is estimated at about $ 250 in the same period. Difficult to believe true? … But that's how simple people SURVIVE and are literally dying little by little, especially those sick people who do not have the financial capacity to supply food, less medicines at international prices calculated to the parallel dollar that reigns in the country .
Now, the purpose of the above is simply to expose in a clear and unabashed context a reality that many read, but sincerely few deepen and to understand the main point of the post, which is the issue in question; it is necessary to know reality in a practical way.
In a country with 27 million inhabitants (4 million are said to have left), with hyperinflation and no productive capacity, with an impoverished population of more than 80% it is logical to think that humanitarian aid is necessary. But there is a fundamental theme of all this; and it is that humanitarian aid unfortunately like many initiatives of this type; They are nothing more than hot water cloths.
Worse yet, most of these helps do not finally reach the people who really need it. And in the case of Venezuela, where a regime openly opposes this type of collaboration in order to control its population with hunger and make them dependent on its rulers, as a Russian-Cuban socialist recipe; It is logical to think that there will be saboteurs by trade to try to make a major failure of this structure.
Therefore, to avoid this type of feasible scenarios that in the country have been seen in abundance with other similar intentions and not as similar as the electoral votes; there is a real way to empower the most disadvantaged population without the political dye that characterizes today's aid and thus achieve complement it; by using cryptocurrencies.
HOW? Through initiatives such as GiveCrypto, eatBHC, and other similar volunteers who have demonstrated in Reddit subgroups such as Banana Coin, Nano, Dash; the real help could be diverse, direct and beneficial to the most displaced population, the poorest and most vulnerable that can not read, write, let alone VOTE for a party or candidate; but you really need to feed your children or grandparents that last up to two days on average to feed once a day.
In addition, I go beyond .. An initiative of registration in the Blockchain of all the beneficiaries integrated with the copy of your DNI attached to the file of the transaction would make this type of system more transparent to guarantee a real monitoring of the distribution of resources .
On the other hand, the integration as a test in a first stage for businesses with payment systems in cryptocurrencies (read Button payment in the style of BCH, points of sale integrated with wallets, etc) would allow in a country with high index of insecurity can really achieve a mass use of criptmonedas for this type of aid, since publicly expose to scan a QR with a smartphone in public in Venezuela is a reality that costs to death.
Finally, in a medium term the evangelization of this type of practices will allow many individuals who do not know about crypts but if they handle a smartphone for social networks, know the technology and with the previous point anchored; Grow your education and interest in the subject. This will ultimately be a major benefit for many in the ecosystem obviously.
It is worth noting that in the poor neighborhoods of the country, where 90% do not currently have access to medicines and just over half of them regularly; It is paradoxical to observe them with smartphones in their homes and jobs and even Internet connection and computer equipment in their homes. My long journey through poor, rural and deprived areas due to my work in the field; It has allowed me to meet with that paradoxical contrast.
Hence, the probability of success in a country destroyed but with high culture and cybernetic penetration as we call it here is very high. Only lack will, resources and find the right people without political interests of any dye to help the needy.
In general, for initiatives of this kind to be successful, it is essential to think in the short term of:
1.- System of registration of beneficiaries in a public Blockchain.
2.- Capacity to provide points of sale in crypts or payment buttons for shops.
3.- Legal and technical advice to the merchants to comply with their obligations derived from the use of cryptocurrencies.
4.- Education and simple technical disclosure to the beneficiaries and volunteers in general.
5.- Direct distribution of funds through crypt payment systems and eventually through convertibility bonds in fiduciary currencies for cases where data connections are not available and difficult penetration. For example, send funds in crypts to a representative, just as most organizations do, then allow that exchange of funds through a DEX exchange or P2P type like Localbitcoins to change to local currency that allows purchases of food in areas remote to deliver help in real time.
PD: I do not represent any NGO, political party, much less GiveCrypto, eatBCH or similar.
I have been thinking about the open-source DGoods project working to standardize token standards for EOS developers to make it so people can own their in-game, in-VR world and even in-real-world items as a transferable token. I had a vision of my game character stepping through an in-game portal to another world or into a VR "hub" with portals to many games and other VR worlds. Sort of a Hub cafe ...