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A Flaw with the New Incentive Structure of noise.cash

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Written by   209
1 month ago

Hello, dear reader!

I believe that I have found a flaw in the incentives of the current noise.cash reward system in which a ❤️ can lead to a tip -- and there are no more "user-controlled" free tips.

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.

If everyone does that,

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.

So I'm asking you, dear reader

Is this an issue?

How could this be resolved?

-- I will think about that last point and you let me know if you have a suggestion. 👍

And my answer to the first question is "no, it's not really an issue".

Why?

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.

Thank you for reading and have a wonderful day! 👋

This is another article brought to you by the world famous one and only #Club1BCH.

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Written by   209
1 month ago
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Comments

How much do you make from noise.cash? I mean is this so lucrative to you that you analyzed behavioural patterns of users and how they can exploit earning a dollar more? Is there something I am missing, I thought you can just make a couple of bucks from noise.cash with a few daily posts? I've some spamming posts every five minutes, but is this so lucrative? How much is the maximum you've earned in a day there?

$ 0.00
1 month ago

I have not analyzed how much I earn from noise.cash at all and I'm also not optimizing my behavior to get the most tips. As I wrote in the article:

"I try to use noise.cash the same way as I would use any other social media that doesn't pay out anything."

"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."

I just take an interest in game theory and I like thinking in terms of incentives. Oftentimes, it's hard to design the incentives in a way which aligns with your goals. Governments fail at doing that all the time. It has been an interest of mine for quite some time.

The article is meant as food for thought and to inspire discussions. My interest in the topic is purely academic.

$ 0.00
1 month ago

I have just realized that I didn't answer your question. I estimate that I get about $2 or $3 per day.

$ 0.10
1 month ago

Hmmm, so far my commenters comments on my post related to the topic so I didn't see this fault.. that they will just comments without reading the post. I assume they will if they are not robots because our post in there is way shorter than our Articles in here.. and if somebody commented unrelated I will visit the profile and rate them as spammers 😂😂 simple but deadly hahaha so nobody commented on my post not related to my post 😂

$ 0.00
1 month ago

Hi! Here's my take on this issue: I don't think the new tipping scheme in noise.cash will necessarily push users to simply create more posts than comment on others' posts. Simply because it's not easy to create quality posts. If you intend to create numerous posts, it might be misconstrued as spam for posting too many. Commenting, on the other hand, will not be as stressful (at least for me) because I simply react or share an opinion about someone else's thoughts or stories.

$ 0.00
1 month ago

That's a very good point which I didn't consider. 👍

$ 0.00
1 month ago