read.cash is a platform where you could earn money (total earned by users so far: $ 811,870.65).
You could get tips for writing articles and comments, which are paid in Bitcoin Cash (BCH) cryptocurrency,
which can be spent on the Internet or converted to your local money.
Takes one minute, no documents required
Understanding the point system, point price and earning?
Lately, there have been numerous rants about the point system and payment - frozen points, low points, fluctuating point value, change in wallet balance, and so on.
I have made a couple of short posts about my frozen points and slow point gains. These were not to vent my frustration but to get clarity and feedback from the more experienced users since read.cash made it clear that they won't reply to emails about such.
Note that we don't reply to emails about points or the random rewarder, especially about how it works and why it gives or doesn't give you points (each time we tried to clarify these things people started to abuse the fund)
My eagerness to increase my daily points led me to go on a "how to earn more points" search. After reading a few resources on the point system and other related articles, I was able to come up with this article.
Note: These are my informed view of how the point system and price works and doesn't represent the actual and current system. This might me outdated as at the time you read this or not. The point system is still a mystery, we can only make speculations from observations and resources available to us.
Random rewarder. The random rewarder is the way to split the daily payout from the fund. Points are allocated. For active users, it means that every article, every useful comment, every upvote, nearly every action that you do on read.cash, gets you a chance to get a little bit from the fund. Random rewarder is still a mystery but it's fair.
Tips: You can get Bitcoin Cash when someone tips your post, but it happens not very often.
Sponsorship: you also earn through sponsorship deals from other users. Though you won't earn much here, it still adds to the earning.
Affiliate Program. Read cash has an affiliate program where you can earn Bitcoin Cash. This offers commission for signing up other people to read.cash. You get 3% of any spending and earning (including upvotes, boost, sponsorships) by your affiliates. You also get 10% of any points given to that person by the random rewarder.
Read.cash uses the random rewarder system to distribute the daily fund. To give out your fair share of this amount, they give out points, and then these points are converted to BCH at the end of each day.
Points - they determine the proportionof money from the fund that a user gets. The fund is funded by donors out of their pockets.
The points will be given for the following:
Articles: Publish something interesting that will stimulate engagement from other users - people will notice you, subscribe to you, upvote you, and the views, likes, and comments on your articles will earn points. A good article should have at least 500 characters.
Comments: Useful comments of at least 60 characters will earn points. Short and one-line comments like "good article" "nice" "lovely information" "This was interesting information, thank you for writing this, I learned something" "Very interesting read, I now know more than I knew before", will likely not earn you any points. They are " useless".
Upvote: upvote of your comment, article, or post by a power user randomly gives zero to a few hundred points.
The points ate deducted for the following reasons:
Your article, comment, short post gets hidden/deleted by read.cash site moderators for rule violation: -10 points and cancels the points for the article
If you delete an article, a short post or a comment for which you were previously given points - these points will be deducted
"At the end of the day all points earned for the last 24 hours would be burned and the daily amount from the fund would be distributed proportionally to the points. Payment happens as soon as the fund donors go online."
Point price is the value of each point accrued on read.cash. This value fluctuates each day, and it's hard to predict. At the end of that day, your points are burned and multiplied by the point price to give your daily earning.
The price of each point depends on the daily spending amount (which is currently around $273) and the total points accrued by all users for the day.
Two days ago before the pledge from @MarcDeMesel that led to doubling of the fund, the average point price was $0.0025. The current average point price is roughly $0.0052.
This value or price can be hard to predict.
How to calculate point price?
Point Price = Spending fund ÷ total points (per day)
Current spending = $273
Total points = 55573
Point price = 273 ÷ 55573 = 0.0049
Average Point Price
Tuesday point price USD equivalent= 0.0051
Wednesday point price USD equivalent = 0.0049
Average point price = (0.0051 + 0.0049) ÷ 2 = 0.005
This means that as at the time of this post, the average point price at the end of each day is $0.005.
This value can change with a significant change in total points accrued per day and a change in daily spending fund.
earning per day = point price x points
How many points is equivalent to $1?
If $0.005 is = 1 point
Then $1 = 1 ÷ 0.005
= 200 points
It means that currently $1 is worth about 200 points (give or take)
Things to consider:
The more total points participants earn per week, the less price of each point is.
The more the amount in the community fund, the more the price per point.
At the end of the day, all points earned would be combined and the amount from the fund would be distributed proportionally to the points. Payment happens as soon as the fund donors go online
Why is my earning balance in dollars always changing its value? I had $5.75 in the morning now it is $5.40?
Remember that there are no US dollars on read.cash
read cash display Bitcoin Cash amounts at the current US dollar exchange rate, so today it might seem like you have $1.00, but tomorrow it might be $0.98 because the exchange rate changed while the amount of Bitcoin Cash you have is still the same
These are my views and I stand to be corrected. There is possibility some details might be out dated or off, please point such out to me and I will make adjustments effectively.
Remember to subscribe if you liked my content, and don't forget to click like and comment on your reaction and opinion about this article.