Honest Micropayments: Each upvote costs 10¢

2019-04-03T15:15:04.000Z Honest Cash

Honest is a social network and content publishing platform that allows writers, creatives and creators to earn Bitcoin for their quality content.

Honest Cash and Micropayments

Micropayments have been talked about since the 1990s. At that time, it seemed like the obvious way to monetize content on the internet. But it never happened at scale. Instead, we have an internet funded by ads and subscriptions. Why didn’t micropayments ever take off? Until Bitcoin (BCH) was launched in 2009 and started to increase block sizes since 2017, it wasn’t possible to send micropayments over the internet cheaply.

Companies found a workaround by selling data to third party advertisers and charging monthly subscriptions. Although these methods have worked well for some businesses, they have not worked so well for most creators or consumers. Indeed, the better those platform have monetized, the worse the user experience has become. That's where Honest comes and allows a direct transfer of value between the reader and the writer without any intermediary.

Why do upvotes cost 10¢ on Honest?

Honest users can now submit content with a premium section behind a pay wall, at a location and price of their choosing, and charge readers to access the premium version of their content. It is yet another revenue stream for creators on Honest along the upvotes.

As paywalls become a new way for writers to earn from their quality content, we are making upvotes 6 times less, bound now to 10¢.

Where do the upvotes go?

We have introduced a model in which users are rewarded for the upvoting, promoting and sharing good stories The current upvote amount goes 40% to the writer and 60% to the previous up voters.

The payments are peer-to-peer and happen without any intermediary. You receive bitcoin (BCH) from the upvote transactions as soon as the transaction is broadcasted.

Honest Cash does not charge any fees for sending upvotes.

What comes next for Honest?

Next, you will find exclusive updates with the entire product roadmap for the next months. Also, we will give you insights about where we want to position Honest long-term.

Product Roadmap

Responses


RE: Honest Micropayments: Each upvote costs 10¢

by @TheRichTeam

It's my first day. Is it only about $BCH only in here? Can I write about other unrelated, (and/or) non-blockchain topics?


RE: Honest Micropayments: Each upvote costs 10¢

by @AsashoryuMaryBerry

Unrelated, but I clicked on "expand" when writing this response, and the whole article didn't appear. Also, I wish we could see the other responses when responding, not just the article.

simpleledger:qzzefzw3n0dja2krew4g5vq7s4fsqzt8sscm97jl96

Edit: changed token address


RE: Honest Micropayments: Each upvote costs 10¢

by @HenryCashlitt

Honest.cash is already clean and professional looking, but I'm excited to see the user interface improvements in Honest V2!


RE: Honest Micropayments: Each upvote costs 10¢

by @siddartha

That's a much needed update. I personally think that it would be better to have some sliding option or % option instead of fixed tips, but it's a good start. Between it's kinda funny that on one hand you have reduced the tip amount and on the other hand have a high unlocking amount for paywall. Maybe announcements like this shouldn't have paywalls or with the minimum possible unlocking amount. ?


RE: RE: Honest Micropayments: Each upvote costs 10¢

by @phmadore

You can tip multiple times, and you can also just look at their profile and send BCH to their address.


RE: Honest Micropayments: Each upvote costs 10¢

by @zquestz

Enjoyed reading the roadmap and can't wait to see the UI changes! Thanks for the amazing work. =)


RE: Honest Micropayments: Each upvote costs 10¢

by @Logan

This is excellent. I love up-voting content but I prefer small amounts. Keep up the good work!


RE: Honest Micropayments: Each upvote costs 10¢

by @cain

I'm happy to see the Honest.cash team has big plans for the future. Really looking forward to seeing the new version coming later this quarter. Pleeeeeeeease tell me you will be able to delete posts and the minimum character limits will be removed at that point. =)

(And by the way, I tried to upvote this post but it wouldn't let me)

simpleledger:qpew0p20aztmucuwcfkdcskj6f4yvujp8ughdrt05r


RE: Honest Micropayments: Each upvote costs 10¢

by @AD1AD

While my ideal would be to be able to set any vote amount, I think that this is a move in the right direction. Having it default to 10c makes me much more likely to vote on an article, and if I really really want to see it higher up I can vote multiple times. (Even if eventually we can set vote amounts, a 10c default is probably about right!)