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read.cash is a platform where you could earn money (total earned by users so far: $ 390,488.03).
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.
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A Flaw with the New Incentive Structure of noise.cash
We know that a ❤️ can lead to a tip worth 1, 2 or 3 Cent. And that the tip conversion of a ❤️ happens at random and is restricted by several factors. None of this is the cause of the flaw I have discovered. Instead, the root cause is that not every ❤️ can lead to a tip.
Let me explain that by comparing two scenarios:
1. If I write a post, then every like it receives by any user can lead to a tip.
2. If I comment on a post or a comment by another user, then only the ❤️ by that one user can lead to a tip.
Before I continue, let me point out that I don't mind that as I'm trying not to worry about the tips at all. I try to use noise.cash the same way as I would use any other social media that doesn't pay out anything.
However, considering this new method was introduced as a way to increase the quality of comments, I believe that the current system incentivizes writing own posts and not even reading other people's posts.
The reason for that is the opportunity cost: The potential reward for writing a post is a multitude higher than writing a comment. Therefore, the time is more efficiently spent writing own posts if that doesn't take much longer than writing a comment. You have a limited amount of time. If you want to maximize the tips you receive, then writing own posts is more lucrative, at least in the short term.
then obviously noise.cash would not work. People would only write their own posts, nobody would read or like it. And I doubt that's what will happen. Writing valuable comments is still a very good strategy to build a following and get more tips on the long run, especially for new users.
First of all, writing comments is still a good strategy for the long term, while only writing posts and not reading any by others may only be more profitable in the short term.
The other point is a bit more involved. Let me start explaining by stating that I love BCH and I love receiving tips, but honestly you can meet great people on noise.cash and learn so much from them. This is way more valuable than a few Cents of tips.
However, if BCH appreciates a lot from its current level, the tips of today can multiply their fiat value.
Therefore, I believe that my strategy of not worrying about the tips and using it as social media is probably ideal -- at least for me. I'm getting the most enjoyment out of noise.cash and I don't miss out on tips completely, either.