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.
no matter the muster
that moves the leaves
continues to blow,
no matter the bluster,
waving to greet you
and welcome you home
no matter the yearning,
to summer's night sky,
stars keep their distance:
upon charcoal slate
and cosmic canvas,
a comic display
twinkles and glints,
she already knows that
the show must go on --
with nowhere to go,
and no hurry to find
a faucet to bottle
nature's home remedy
to soothe a bruised soul.
Why does the brain have a reward prediction error? (Paywall) Mark Humphries wrote that story, I replied, he replied, I replied…
The dogs at a show could be ranked by…
1. a small committee of experts (socialism)
2. everybody voting (democracy)
3. everybody donating any amount (market)
With the last one all the money could be given to the Human Society, for example.
Each of these three systems is very different, so they would rank the dogs very differently. One system would rank the dogs far more intelligently than the other two systems.
Here’s a list of books…
- The Origin Of Species
- Harry Potter and the Sorcerer’s Stone
- A Theory of Justice
- A Tale of Two Cities
- 50 Shades of Grey
- The Bible
- War and Peace
- The Cat in the Hat
- The Wealth of Nations
These books aren’t equally useful, just like dogs aren’t equally useful. We could also use the three very different systems to rank these ten books. One system would rank the books far more intelligently than the other two systems.
It’s hard for me to wrap my mind around this. You’re trying to figure out how the human brain works, which I think is certainly a useful endeavor. But is it as useful as figuring out which collective brain is the most intelligent? What’s the difference?
The foragers in a beehive use costly signals to rank flower patches. A bunch of individuals put their tiny heads together to try and correctly discern the usefulness of a patch. The more correct their assessment, the more optimal their allocation of resources.
Right now I’m allocating my resources to discussing intelligence with you. Why? Because my brain tells me that this is a very useful thing to discuss. But it’s not like I have a good grasp of the exact mechanics. Your grasp is much better than mine. From my limited perspective, it seems like my brain is a bunch of individuals putting their tiny heads together to try and correctly discern the usefulness of a topic.
I’m a multicellular individual. Why? Because a long time ago a bunch of unicellular individuals did a really good job of putting their tiny heads together. Now here I am, a multicellular individual, trying to explain to you, a multicellular individual, that it’s relatively easy, and incredibly beneficial, to figure out which system does the best job of putting our tiny heads together.
Heh. It feels really… primordial.
Right now the most important experiment is being conducted… Honest Cash. Participants use costly signals to rank content. As opposed to Medium, Reddit, Facebook, Twitter, Youtube and Google where content is ranked by cheap signals.
The Honest Cash experiment will economically enlighten everyone, and then all us multicellular individuals will do an infinitely better job of putting our tiny heads together, which means infinitely faster evolution.
If you want to better understand brains, then you should definitely participate in the Honest Cash experiment. You can use your money to improve how the content is ranked.
Compare these two passages…
While one can see that a nervous system signalling to both tissues could make chemical communication redundant, it’s now clear that the hormonal link — and the autonomous character of peripheral tissues — never went away. As specialised populations of cells evolved, the total organism benefited from individual tissues broadcasting their status to modulate other organs. As Karsenty puts it, ‘no organ is an island in our body.’ — Liam Drew, Hormones United
It is thus that the private interests and passions of individuals naturally dispose them to turn their stocks towards the employments which in ordinary cases are most advantageous to the society. But if from this natural preference they should turn too much of it towards those employments, the fall of profit in them and the rise of it in all others immediately dispose them to alter this faulty distribution. Without any intervention of law, therefore, the private interests and passions of men naturally lead them to divide and distribute the stock of every society among all the different employments carried on in it as nearly as possible in the proportion which is most agreeable to the interest of the whole society. — Adam Smith, Wealth of Nations
What’s the difference?
In both cases the optimal balance, the efficient allocation of resources, depends on a bunch of individuals effectively putting their tiny heads together. On a small scale the best system involves the sacrifice of calories. On our scale the best system involves the sacrifice of cash.
Dear @honest.cash community and friends good morning, today I am making another *Still life Pencil Shedding Timelapse artwork* here you will find step by step complete tutorial and video so you can see the efforts and time I put in this artwork.
Video tutorial of making this masterpiece.
Friendsmaking of Still life Timelapse Shedding is a very time consuming and lengthy process.
On the making of this artwork I invested almost 4 hours and tons of efforts in making this masterpiece.
My favorite Youtuber is AntiBullshitMan, and his most recent video is about intellectual property. In his video he extols the virtues of Dean Baker and his paper… Is Intellectual Property the Root of All Evil? My comment…
You were willing to spend 45 minutes promoting Baker’s paper. Evidently you think it’s useful. But how much money are you willing to spend to promote his paper? How much money *should* you spend?
Let’s say that your true valuation of his paper is $1. If you spend $0, then your consumer surplus would be $1. If you spend $1, then your consumer surplus would be $0.
Think about bees. If a bee named Samantha discovers a big field of fresh flowers, she’ll rapidly return to the hive and dance energetically to convey to her coworkers her considerable enthusiasm and excitement for the field. It isn’t a cheap signal, it’s a costly one, given that calories are precious. How many calories *should* she spend promoting the field of flowers?
In the most memorable scene in “When Harry Met Sally”, she loudly fakes an orgasm in a restaurant. After she finished, a lady at another table told the waitress, “I’ll have what she’s having.”
Imagine Samantha faking enthusiasm for a flower field. When many bees rush over to harvest all the pollen and nectar, they only discover one flower that is small and sad. How do the bees react? “Haha that Samantha, she got us… again. She’s such a prankster!”
The fact is, bees really don’t benefit from being misled/misinformed/misallocated, and neither do humans. Therefore it seems pretty straightforward that, in terms of economics, honesty is always the best policy. You *should* spend $1 to promote Baker’s paper.
Problem is, if you joined Honest Cash and posted your promotion of Baker’s paper, you wouldn’t be able to spend any money on it. I could spend my money on it, but I wouldn’t be willing to spend much, since I perceive that there are far more useful papers… such as James Buchanan’s Economics of Earmarked Taxes.
The answer to Baker’s question is no, intellectual property is not the root of all evil… democracy is. Fortunately for humanity, Honest Cash is striking the root.
Numberofthings was one of the very first users to start utilizing the Honest Cash platform. It has only been A FEW SHORT WEEKS however the rewards already coming in!! It may not seem like much to some but .2 BCH, $27.95 USD for simply sharing content which I enjoy creating is an amazing start. Especially considering current market prices. At this rate the Honest Cash platform is easily the most rewarding platform I can think of and far outpaces Steem for rewarding it's creators. THINK HONEST! BE HONEST! CURATE HONEST CASH!
Dear friends good evening this is Raghao Singh from India, today I am going to share with you a very beautiful and gorgeous lady and her portrait is also very beautiful like she is and I am very happy to share all the making process with all of you.
Dear friends share your beautiful opinion and suggestions on my artwork and it will be a great pleasure for me to know what you think.
Numberofthings has been an IT technician and consultant for nearly 2 decades. In that time he has become A+ Certified, a Network Security Admin, and Apple Certified. He enjoys hands on work, troubleshooting, and building custom computers.
A farmer has to toil hard,
From the morn till evening.
He awakes early in morning,
Without rest he works till evening.
He tills irrigates and harvest his crops,
With gaily mood that never flops.
He survives with his family,
On the faith of his crops.
Facing drought, heavy rain,
Hurricanes, and pouring heavy hail stones.
Natural disasters he often face,
But weariness in him, you can’t trace.
He prays to God both the time,
In the dawn and the dusk prime.
His joys from his face never fade,
Either his crops are lost in insects invade.
I praise the farmer with a humble mind,
Who feed us all without claim and pride.
He believes in God providence,
I ever praise him with reverence.
In our post "Advocate for an underdog and get 1000 Honest Cash Tokens." we asked Honest members to be be an advocate for an underdog and write a post on Honest on any topic surrounding; honesty, censorship or discrimination.
In return, we are sending 1000 HCT tokens. Honest token is a proof of engagement on honest_cash, exclusively for Honest members. It will be given to creators, thinkers and creatives. The more Honesty you have, the wider audience you can reach. Here's a compilation of the stories that have qualified:
Colombia Drowning in Silence by danigocrypto
How to avoid censorship of the Venezuelan government for internet by Daniejjimenez
Advocate for an Underdog by Numberofthings
Has Roger wrecked our sex life? "Post-Roger Sex Disorder" is real, says Dr. Craig S. Wright. by kos
To Be Honest by cain
Markets and Minorities by Xerographica
Sadly, Dishonesty Works by Big_Bubbler
Here are the tx's proofs: danigocrypto, numberofthings, cain, Big_Bubbler.
Xerographica, kos, Daniejjimenez
have left invalid SLP addresses. Please update your post with the valid address and let me know on Telegram or Twitter about it.
Our next give away will be on #FreeSpeech. You can start writing now!
image source: https://goo.gl/images/ugct3w
God has created this universe,
Insects, birds, human and anima.
In grand and beautiful natural surroundings,
the creation of a woman is excellence.
She passed her early years,
In Love and care of her parents.
But the prime of her youth is passed,
Among a new unknown world.
She leaves behind everything,
Joins the company of some unknown friend.
Her sacrifices can never be end,
I find probability it is the universal trend.
With the pass age of a time,
She becomes a lovely mother of her child.
The destiny of a woman take turns,
That can never be confined.
She brings up her children with great care,
In the atmosphere of fear or unfair world.
My homage to such sacrifices,
I will try my best to raise my voices.
darling do you realise,
the mist that swirls inside your eyes?
in the evening time, stretched wide to house the moon,
you grin and check my vital signs,
then trace the course of my palm-lines,
etched paths twist and turn, converge, and all return to you,
was it the tracing of your finger?
at certain times you seem to linger,
longer in my mind’s eye than the credit you’ve been due,
was it the moss upon my stone?
the present you so clearly own,
the dye that had been cast is past: ‘now’s’ new dice to roll,
our time upon this earth is short,
our future is an afterthought,
i’m stuck with pins; it must be your voodoo,
and your black magic gypsy hex,
tickling the nape of my neck,
honored hairs all arise, standing to salute,
your holy gaze and aureole,
never caught you in this light before,
you’re fixing up; I know you’re bound to shoot,
but for now, let's just recline,
on this sofa outside space and time,
and bask serene in low-lights, beaming down the avenue.
According to a study by CNBC, which talked about the profitable business that Coca-Cola Company shares acquired ten years ago with respect to their acquisition price and the current profitability that they could report, it was indicated that they showed growth up to three times its nominal value.
In that post, they talk about a $ 1,000 investment in a Coca-Cola share ten years ago, which would bring to $ 15,000 as a final price by February 15, 2019, allowing the money invested to be multiplied by almost three.
Now if instead of acquiring an action of that type, that same amount would have been destined to acquire $ 1,000 in the Bitcoin cryptocurrency, on February 15, 2019 would report the not inconsiderable sum of $ 9.2 million USD at the average price of $ 3,600 per spot.
Bitcoin for the year 2010, had an average price of $ 0.39 per unit.
Although the traditional markets are less volatile than the cryptocurrencies, the historical price of Bitcoin shows us that despite the stake anchored to the cryptocurrency by investors and traditional economists reluctant to the new markets of crypts, they are not so profitable nor Even when the boom of the nineties occurred with the so-called "dot.com" actions or in Spanish, the boom in the actions of the web companies when this disruptive technology was emerging.
Even the actions of major technology companies such as Amazon, Google and Apple, have historically not reported such performance in the same period of time from the time of their appearance until today.
The case more similar to Bitcoin in growth, expansion and contraction, has been Amazon. The company of Jeff Bezos managed to rise up to 1.066% at the close of 1998 before falling back by 82.59%.
Bitcoin experienced something similar in 2017, growing by 1,400% and then falling by 80% at the beginning of 2018. Even so, Bitcoin in terms of profitability and prices maintains better profit margins in relation to Amazon.
And this is just the tip of the iceberg. If that investor had bought his $ 1,000 in Bitcoin at the beginning of 2010, when the first transastions of the cryptocurrency occurred at an average price of $ 0.003 cents each; that same amount would today be the astronomical sum of $ 1,200 million dollars at the current price of February 15, 2019.
The scenario is even more interesting if that same amount had been sold at the beginning of December 2017, when the Bitcoin reached its maximum peak of $ 19,500 per unit. The $ 1,000 investment would report to the new criptomillonario the not inconsiderable sum of $ 6.5 billion.
Despite all the reluctance about the cryptocurrency and its accusations of fraud, hacking, volatility and financial bubbles to which it has been cataloged lately; Bitcoin has shown that it has generated a new finance model that has already touched large corporations, financial groups and traditional investors, by applying uses of its underlying technology to generate new financial solutions and 'modern' ways of generating wealth.
What emerged as a crypto-synchronism, has become an appealing asset for great institutional whales, who wait for the opportune moment to enter the game in an 'open' manner, which would imply historical maximums of their prices and therefore, for those investors of Bitcoin's early age and / or the current winter crypto; generate very decent returns in the next ten years.
All this indicates that in spite of its volatility and all the bad publicity surrounding Bitcoin, investing in crypts responsibly is much more profitable than an action of any company that is listed on the big stock exchanges of the world. After all, actions also go up and down and are manipulated as traditional economists say, to Bitcoin.
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
Today Honest Cash posted a request for us to be "an advocate for the underdog". The first thing that came to mind is this excellent article by Conor Friedersdorf… Democratic Socialism Threatens Minorities. It makes the solid case that the interests of minorities are much better protected by markets than by democracy.
Around 5% of people are vegetarian. With democracy (tyranny of the majority) they would lose by a mile, but with a market, they have plenty of meat-substitutes to choose from. As the saying goes, there's riches in niches.
What makes Honest Cash special is that it uses a market to rank content. This naturally means that the interests of minorities will be much better protected here than they are on sites that use democracy to rank content, for example… Reddit, Twitter, Facebook, Steemit and Google.
Honest Cash is a genuine marketplace of ideas. It won't be the most popular ideas that receive the most attention, it will be the most valuable ones. And where do the most valuable ideas come from? The masses? No, they come from minorities. They come from the underdogs. They come from the heretics.
To be clear, I'm not saying that the heretics are always right. Some of them are certainly crazy. What I'm saying is that Honest Cash will do a better job than the democratic websites at elevating the truth, it will rise up the ranks far faster, which means expedited enlightenment and evolution…
Our creed is that the science of government is an experimental science, and that, like all other experimental sciences, it is generally in a state of progression. No man is so obstinate an admirer of the old times as to deny that medicine, surgery, botany, chemistry, engineering, navigation, are better understood now than in any former age. We conceive that it is the same with political science. Like those physical sciences which we have mentioned, it has always been working itself clearer and clearer, and depositing impurity after impurity. There was a time when the most powerful of human intellects were deluded by the gibberish of the astrologer and the alchemist; and just so there was a time when the most enlightened and virtuous statesman thought it the first duty of a government to persecute heretics, to found monasteries, to make war on Saracens. But time advances; facts accumulate; doubts arise. Faint glimpses of truth begin to appear, and shine more and more unto the perfect day. The highest intellects, like the tops of mountains, are the first to catch and reflect the dawn. They are bright, while the level below is still in darkness. But soon the light, which at first illuminated only the loftiest eminences, descends on the plain and penetrates to the deepest valley. First come hints, then fragments of systems, then defective systems, then complete and harmonious systems. The sound opinion, held for a time by one bold speculator, becomes the opinion of a small minority, of a strong minority, of a majority of mankind. Thus the great progress goes on, till schoolboys laugh at the jargon which imposed on Bacon, till country rectors condemn the illiberality and intolerance of Sir Thomas More. — Thomas Macaulay
The most enlightened minorities need the opportunity to quickly lead the masses in the most valuable direction. Honest Cash is this opportunity, because it's a genuine marketplace of ideas.
Censorship is a very important topic when it comes to freedom of speech and expression. The internet as we know it is controlled by a select few major players and as such these same players also control the majority of content on the internet. Artists and musicians in particular have been forced to be part of multinational conglomerates that while may make your music popular, is at the expense of the actual artist being compensated. The "middle man" has existed far too long, claiming rights to other peoples intellectual IP. All this changes with blockchain and applications like Honest Cash. Honest Cash gives creators the power to control their own content by having control of their private key. This is one of the most powerful innovations since the advent of the internet, given the way our world produces and consumes digital media. I am very excited by the possibilities blockchain and applications like Honest Cash will bring for us all. I would personally like to shout out @idunsquest on Honest.Cash for being one of the first active users and supporters of Honest Cash and @numberofthings. And of course to @honest_cash for the opportunity. We are part of history !!
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.
Blockchain is usually associated with Bitcoin and other cryptocurrencies, but these are just the tip of the iceberg. And is that this technology, which has its origins in 1991, when Stuart Haber and W. Scott Stornetta described the first work on a chain of cryptographically insured blocks, was not notorious until 2008, when it became popular with the arrival of Bitcoin.
Currently its use is being demanded in other commercial applications and an annual growth of 51% is projected for 2022 in several markets, such as that of financial institutions or the Internet of Things (IoT), according to MarketWatch.
In its simplest essence, the chain of blocks, better known by the English term Blockchain, is a single register, consensual and distributed in several nodes of a network. In the case of cryptocurrencies, we can think of it as the accounting book where each of the transactions is recorded.
Its operation can be complex to understand, but if we delve into the internal details of its implementation, we can conclude basic and vital aspects of the Blockchain; each block has a specific and immovable place within the chain, since each block contains hash information from the previous block.
The entire chain is stored in each node of the network that makes up the blockchain, so an exact copy of the chain is stored in all the network participants.
Being a distributed technology, where each node of the network stores an exact copy of the chain, the availability of information is guaranteed at all times, making it very secure, so any type of information that needs to be preserved from Form intact and that must remain available can be stored in Blockchain.
The latter has resulted in a large number of uses in the fields of health, documents, identification, insurance, IoT devices, financial and others.
Being the crypto ecosystem a derivation in its essence of Bitcoin, the first and main cryptocurrency of the market, with more than 50% of the share of the crypto-market, it is logical to think that for financial experts, traders, investors, institutions and the general public, requires a block explorer within the Bitcoin Blockchain, in order to verify relevant information from a technical, analytical and financial point of view.
Given this concern, Blockchain.com was born, a startup that was born in Luxembourg in 2009 in principle as a web server to statistically explore vital market information of Bitcoin in the beginning and Ethereum and Bitcoin Cash more recently.
The company has grown significantly, positioning itself as one of the fastest growing and most reliable in the world of cryptocurrencies with more than 70 million dollars raised by solid institutional investors within Silicon Valley, Wall Street and London StockExchange, as its website indicates.
In addition to having your main valuarte on your wallet of the same name, Blockchain presents a series of updated technical information reference in your block explorer. In order to familiarize ourselves with the fascinating world of blockchain technology, we bring you the 8 most common terms that you will hear from Blockchain and that you need to be clear to understand when you browse in the most used block explorer of the crypto space.
As its name indicates, it refers to the average market price of the cryptocurrency in USD, in this case Bitcoin, in most exchanges or crypto exchanges.
The price of Bitcoin in this case, for example, is calculated in the same way as the rest of all fiduciary currencies, based on supply and demand in the main crypto exchanges of the world.
In mineable cryptocurrencies such as Bitcoin, it is common to hear the term hashrate. In simple terms it is a measure of the processing power of the network, in this case of the Bitcoin network.
Its value for Bitcoin is given in tera hashes per second (TH / s), given the exponential increase of the difficulty from its origin, which has forced to be only minable through ASIC equipment (integrated specific application circuits) highly expensive and sophisticated.
According to the cryptocurrency, this value varies depending on the particular algorithm under which it was conceptualized at its origin.
According to Bitcoin.org, 'hash rate' or the hash rate is the unit of processing power of the Bitcoin network. Its current value according to Blockchain.com is 43.69 TH / s and that means that the network can make 43,691,832 trillion calculations per second.
It is a mathematical value of the difficulty of finding a valid hash for a block. It is a value that is used to show how difficult it is to find a hash that is lower than the goal defined by the system.
The Bitcoin network, for example, has a global block difficulty. Valid blocks must have a hash below this goal. Mining pools also have a difficulty in sharing in a specific group or pool that sets a lower limit for actions.
The Bitcoin network and in general of many cryptocurrencies, work with a set of connected nodes (supercomputers) that go in a race to discover the valid hash (a fingerprint of some binary input) to find the next block containing cryptocurrencies and receive the respective reward.
Depending on the power of the network, the algorithms automatically adjust the difficulty (in the case of Bitcoin every 2016 blocks) to be able to guarantee the fixed supply of cryptocurrencies and avoid being compromised its network. The halving in Bitcoin, is known as the adjustment of the difficulty, and the next one is planned for the year 2020.
With each adjustment of difficulty, the reward of the miners (the connected nodes) is also reduced by half compared to the previous period. Currently this reward is 12.5 BTC per block found.
TX Per Day
Number of transactions in the last 24 hours. Bitcoin reached the highest transaction rates per day this week since January 2018.
A transaction in simple form is a transfer of bitcoins from one address to another. Specifically, a transaction is a signed data structure that expresses a transfer of value. The transactions are collected by the miners and included in blocks that remain permanent in the Blockchain.
Basically in the Bitcoin network for example, what happens in the blockchain is a transaction log and its numeric data illustrates the greater or lesser amount of use that is being given to the particular blockchain of that cryptocurrency.
The theoretical limit of transactions for Bitcoin is currently 867 thousand per day. The minimum size of transactions is 166 bytes. Because a block is validated every 10 minutes, with a 1MB block size, it implies a theoretical maximum rate of 10 TPS (transactions per second).
This has been one of the key points, for which Bitcoin like many other cryptocurrencies have been derived in forks (or divisions), whether soft or hard as in the case of Ethereum and Bitcoin Cash.
The argument is that to achieve a greater number of uses of cryptocurrencies and the blockchain in general, it is necessary to approach VISA levels of 10k TPS. Already EOS, Ripple and other Blockchains have been working with satisfactory results on this topic.
For now, Bitcoin, despite only being able to process 10 TPS, continues to be the most important cryptocurrency by market capitalization. However, it is not ruled out that within the Bitcoin Core currents, there exists at some point the improvement of the scalability of the network apart from LN and SegWit.
It refers to the average amount that was sent during the last 24-hour period. It is the estimated total value of transactions in BTC in the network that has been sent, discarding the entries by 'change'.
A block can have multiple inputs and a single output, or the most common case; a single entrance and two exits; that graphically is the example when a good is bought with a unit of account of greater value at the price of the good, and receives the respective 'change' for said transaction.
In Bitcoin it is common to find some blocks with this type of input / output, so the currencies that return to the one that 'sends' for the concept of 'change' in this average value are not taken into account.
It is the average rate added to a transaction in the last 24-hour period.
Remember that all transactions, in order to be confirmed, need to make a "donation" to the network. A commission that will receive the miner who validates the transaction.
The commissions in Bitcoin (and in almost all crypts) are not paid depending on the value of the amount sent. When dealing with purely digital money, the commission is determined by the size in disk space occupied by a transaction: bytes.
No matter how much the value of the transaction, if not what involvement has at the computer level. The commission is not something fixed or explicitly imposed, it is the user who determines how much he is willing to pay according to his need.
As we mentioned in the section on Average Value, a transaction is not required to have a single entry and a single exit, but it can be composed of multiple inputs and outputs. Depending on this, the transaction will have more or less content, that is, it will occupy more bytes on disk.
It is the number of transactions pending confirmation, and its value or concept has to do with the previous section of the average commissions.
In the mining of Bitcoin, those transactions that have an additional incentive or higher than the others, will receive the attention of the miners to confirm and validate their transactions, otherwise; it simply causes a large number of transactions to remain pending confirmation by the miners.
The reason is that the miners, based on the transactions that are pending in the mempool, select the ones that pay the most at the rate of satoshi / byte in the case of Bitcoin.
If the network is not overloaded, miners will simply add to all transactions without problem, but if it is overloaded they will prioritize transactions with more commission to earn more money.
Aggregate size of the transactions pending confirmation. It is a measure of what the above section implies, but depending on the number of bytes it represents for the network, the transactions waiting to be confirmed.
Given that the Bitcoin block is only 1 MB, the miners give priority to those who pay the most and consequently an increase in the cost of the commission begins, as there are people who need to deliver their transaction as soon as possible and the price goes up. , and those who pay little remain at the bottom of the mempool.
God in form is visible,
We can touch Him, is possible.
As the sound of a bell is audible,
He exists in the form, is credible.
As the watch man can see,
With the help of dark lantern.
To whom he throws it's raise,
Unless he turns the light upon himself.
We have born in this world,
To realise God in everything.
We can see Him every where,
Without diverting our minds on other things.
When we are able to attain self knowledge,
We can attain the eternal one college.
First, thanks for this great platform! There is one issue I have with it though. I'd like to be able to see what post is in each tab of my browsers tab list, but right now all Honest Cash tabs are titled just "Honest Cash". When viewing a post it would be great to set the tag to the title of the post.
Honest has built a strong brand and it is recognizable among crypto community. However, the .cash domain can have negative associations with gambling, brokers or semi-financial institutions websites, especially among non-crypto users. As Honest platform aims to foster crypto adoption and to become platform for everyone, the change of domain was seriously considered. We are at this point that re-branding would not be possible in the future.
That is why I ask Honest community. Should 'Honest Cash' stay?
Please answer with your suggestions of a better name/domain.
Let's make use of our best tool - value poll - below this post.