I have published more than 300 articles on Medium since 2021 and more on writing platforms relevant to cryptocurrencies.

Crypto is experiencing a challenging period, but the tide is about to turn.

I do not hope crypto will recover; I know it will.

However, we have learned nothing so far, and the same mistakes and scams will reoccur again and again. Most investors will buy the top of the next bubble and lose a fortune in several scam projects while looking for high-yield opportunities.

I don’t think quitting is an option. I will not stop exposing scams and unstable crypto Ponzi schemes, especially high-yield schemes such as Celsius and BlockFi.

As writers, we can sum up our performance in just one word: rewards.

A story with 30k views might seem successful but let’s find out where this one went wrong.

How Much Can An Article With 30K Views Pay The Writer?

The story we examine is this one:

• Here’s How To Earn Cryptocurrency In 2023 With No Investment

This article provides several methods that anyone can use to gain cryptocurrency, regardless of their knowledge level.

By April 3rd, 2023, Medium users viewed the story 31k times, and I hope that its lifespan will last longer than other stories.

I don’t want to put this story in the same category as any other money-making prospects, but I consider it to be special, as I have been exploring all these options for years and still find them promising enough.

There are always dangers since airdrops and bounties are overwhelmed by scams and KYC-related dangers, but I’ve been adamant about how to proceed. No KYC, no trust, focus on the projects with valid arguments, strong teams, and no red flags.

After this quick introduction to the concept I presented, here are the stats of this story:

Yes, the reward for 31485 views was a measly $210.90!

Not what you would expect, and not what I was expecting either.

The 30% tax non-US writers pay to Medium limits this reward to $150. But let’s analyze these stats further:

Well, in fact, this story was rewarded higher than the average $4 per reading hour and closer to $5. So, it wasn’t that wrong in this sense.

The story gets 24,500 internal views, and 6,500 external views, with an average of 4 minutes per viewer.

Some Simple Math:

31485 (number of views) x 3.45 (minutes of average reading time ) =

108,623 total minutes

108K minutes of reading time in total.

108,623 / 60 = 1810 hours

Analyzing these 1810 hours, we discover that:

• 40 hours belong to Medium members (paying members)

• 1,770 hours to Medium free users

In terms of percentage, it looks like this:

• 2,2% of reading time belongs to Medium members

• 97,8% of reading time came from free users.

This is the unfortunate truth about this article.

The vast majority of visitors (98%) were not subscribers of Medium.

I am convinced that every one of the 30K readers will accept that these statistics demonstrate failure.

An article with 31K views made little impact on Medium. They did not boost it, and nobody promoted it to paid members. Medium members ignored it or could not discover it.

Anyway, it failed to attract the paying readers. Every Medium user, member or not, will agree the article failed.

The analysis of these stats only points to failure instead of a successful article with vast reception as 31k views should have been.

Can we claim this game is rigged? I know many writers do not trust stats. Who knows. I’m the first one to claim that the focus should shift to eliminating trust and replacing existing networks with trustless and autonomous alternatives. We can’t verify any of these stats, but we have to trust Medium.

I trust Medium stats, though.

I can verify that the likes I received were mostly coming from non-members.

This irregular ratio (98–2) is realistically describing the target group of my article and, in fact, generated more revenue than it should have.

More (Ir)relevant Stats

I do not know how I got views from Data Driven Investor, a Medium publication that denied my application as a writer but did not bother mentioning the reason. Instead, the editor linked an article telling me how the answer to declining me might be somewhere in there! What a professional and credible publication Medium has! I will definitely follow their financial advice (NOT).

I will analyze the real reason they denied my application in a while.

Right now, my main issue is this:

When comparing $200 to my living cost, it is pitiful. I have to spend $400 just for gas every month, so this story helped me to fill up my car twice. Again, that’s 31k views with 1800 hours of reading time in total.

I prefer to work overtime than to bust my ass with another article. It is actually better to get a second part-time job at McDonald’s instead of writing for Medium again.

This is an analysis of rational microeconomics (opportunity cost). This is about the genuine writers, the small heroes, trying to figure out a solution in this Gordian knot. And with this article, I expect to unlock this mystery for them.

I’m trying to find meaning here by being blunt but not arrogant. I realize Medium has to pay thousands of users daily, and many will probably not reach $200 with a single story. Medium also has to profit, and it does that very well.

Yet, the article in question is one with 30k views, so, clearly, there is something I did wrong all this time and factors I was ignoring.

Views will not mean success.

Every writer on Medium is out to fish reading time from paying customers. These users are the target group of successful writers on this platform.

Meanwhile, my rewards are dwindling at a level of insignificance lately, to the joy of haters, and the scammers exposed so far.

March rewards were shockingly awful. I actually believed that I delivered content of higher quality than anything I previously written, but Medium decided it was just not that good.

February Views:

March views (after the boost feature was enabled on Medium):

Despite publishing 12 NEW ARTICLES in March, I received 50% fewer rewards than in February! Also, consider that in February I didn’t even publish a single story! Some crazy things are happening here.

Perhaps it has to do with the new Medium feature (“Boost”) which empowers the mainstream publication editors who will now select those writers that will receive the most rewards!

Apparently, these mainstream publication editors did not select my content for a BOOST!

But, I will not enter a discussion about this new feature right now. It will take some time for the full effect to be visible, especially to the unaware writers.

In terms of a side hustle or a free time opportunity, Medium doesn’t offer something significant. It always looked like a bait, with certain months pushing high numbers but nothing stable or sustainable.

There is no hope for a drastic change by using Medium and hoping is never a viable option. The writer in this case has to apply drastic changes.

Analysis Of The Failure

With my work, I am primarily educating newcomers in the crypto field, discussing the dangers, and pointing out why crypto is not just a speculative instrument but a revolution.

I tried to educate newcomers, explain the dangers, explain the significance of holding the private keys and using cryptocurrency in a permissionless approach, and explained why (some) cryptocurrencies contain immense utility.

The reason every content creator that tries to educate fails is that NOBODY CARES.

Everyone treats crypto as a speculative short-term investment. A get-rich-quick scheme, a Ponzi to get in and out quickly.

And everyone has the wrong perception while following the mainstream optics that promote a scummy pump-and-dump approach.

Everyone follows YouTubers and social media influencers that promoted and participated in pump and dumps and you don’t even realize it.

Yet, these are the mainstream. Lark, Ivan, DataDash, Pomp, and several other PAID SHILLS with millions and millions of followers.

You get your financial advice from uneducated fools on YouTube!

Medium-paying members will read articles about the price of their favorite asset. They will love BTC again and pump the likes on articles that hype their investment in 2024 with the new bubble cycle.

Medium-paying members will not treat crypto differently than anyone else. It is already engraved in the collective mindset of retail investors to buy the top of each bubble.

Just have a look at the popular crypto-writers on Medium and how they treat Bitcoin and cryptocurrency. They never cared at all to explain anything to you. Perhaps they don’t know anything either.

Have these top Medium writers ever discussed the permissionless and trustless features of decentralized blockchains, and have they explained the significance of non-custodial wallets?

How often are they even using these terms, and have they ever wondered why crypto matters? Have they conveyed the true meaning of financial freedom, or do they assume it means having more fiat money in the bank?

That's the mainstream nonsense.

These influencers will feed you to the wolves for a tenth of a penny.

In Conclusion

My articles have little to do with speculation, so they will never achieve any significant place on Medium. The mainstream optics will cancel my warnings, no matter how fast my predictions materialize.

As nobody cared about my Celsius warning, or my warning about the top of the 2021 market bubble, my warnings about Doge, BTC, and several scam coins, nobody will be interested to learn why cryptocurrency has a future outside of mere speculation and Ponzi-economics.

There will be a new bull run, but I’m afraid it won’t be different. Nobody learned anything.

Medium and Medium members, I don’t want you to read or boost my work. Subscribe at Pomp, BitBoy, and other Ponzi lords and be part of the next colossal pump and dump. You can start shouting Bitconnect together with Carlos Matos next bull run.

I’m not here to support mainstream nonsense but to expose the falsehood of the narrative.

Not going to promote the agenda of whales, Grayscale, Binance, or anything like that.

Do you want mainstream? Follow Pomp. At least I will assist my audience with better advice than content creators and publications which are getting ready to promote the next Do Kwon and Bankman Fried or crypto Ponzi schemes like Celsius and BlockFi.

• Cover on Pixabay

Platforms:

● read.cash ● noise.cash ● noise.app ● Medium ● Medium ● Hive ● Steemit ●Vocal ● Minds ● Publish0x ● Twitter ● CashRain ● Me.dm

*Originally published on Medium.

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