Can we buy some popularity for read.cash?

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Written by
4 years ago
Topics: read.cash

Here's an interesting side-note about something that occurred to us when we were thinking about the stats of read.cash lately.

Can we just buy some popularity for read.cash (and therefore for Bitcoin Cash)?

Probably no, unless we have hundreds of millions of USD to spare.

brrr, anyone?

Here's some fun math: right now about $41,000 worth of upvotes were given on read.cash (huge part of it is thanks to generous @MarcDeMesel - BTW if you haven't checked out his YouTube channel - do it now, he's giving out some really good investment ideas).

So, $41,000 worth of tips, but how many authors have received at least one tip? 573 users (out of 2,000 registered) received at least one paid upvote. That means that an average user who got tipped got $71 in tips.

That's how much it would cost to bring one user to read.cash - $71.

But, there are lies, there are damned lies and then there's statistics.

It's exactly the case here. If we exclude 10% of the most generous tips (which excludes all tips greater than $5), then we get that 572 people got total of $4,854 in tips, which averages out to $8.48.

Out of those 572 users, 378 users were online in the last month. (That's active registered authors that got upvoted at least once)

So, it takes about $12 to add an active user to read.cash (8.48/378*572). Which sounds reasonable - it's not exactly a small amount, but it's enough for many to be somewhat interested.

Now, our estimates show that Steemit has probably about 1 million monthly active users (it's an educated guess), so to make read.cash as popular as Steemit it would probably take at least $4,000,000 to $12,000,000 in paid upvotes (Medium would be about $100,000,000) It's a wild guess based on different methods of calculation, but it's the ballpark.

We certainly don't have anything near that kind of money, so we're guessing we'll have to stay with more guerrilla tactics.

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Written by
4 years ago
Topics: read.cash

Comments

I would like the read.cash team to concentrate on how to make the website more fascinating to the users and leave the promotion of the website to users. If a user promotes the website and get referrals, the reward is already there. It is also the duty of the principal to make sure the referrals are active thereby increasing the number of users, and thus promoting BCH.

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User's avatar Olad
4 years ago

Sure, we're mostly concentrated on that. It's just a thought :)

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User's avatar Read.Cash
4 years ago

I think you should write about Read.cash to the top decentralised social media networks like Publish0x, Steem, Hive, Uptrennd etc because the users of these platforms would be interested. Paid marketing should be done on Facebook and cryptocurrency related websites.

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User's avatar ondoin
4 years ago

We'll leave it to our users to do that if they want. We just don't have that much time.

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User's avatar Read.Cash
4 years ago

May I suggest that you register your site as a brave browser verified contributor? Then we the internet, can tip you in BAT also to help you fund the cause👍 just a thought. https://brave.com/lul167

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User's avatar Fritz
4 years ago

I also agree with this proposal.

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User's avatar ondoin
4 years ago

I really loved this article, concise, accurate and uses scientific methods to study the growth.

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User's avatar p0oker
4 years ago

You should take into account that the current upvotes where not paid for, so for every paid-for engagement and value you create, there will be a ratio of non-paid for engagement coming out of it.

Depending on that ratio, it could be a very good deal to invest money in direct incentives, or a mostly pointless exercise.

It could also be a bad idea to begin with, as one of the benefits with having costly upvotes is that you get a natural filtering effect. By adding artificial upvote value you would dilute that.

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User's avatar JonathanSilverblood
4 years ago

I'm not sure I understand your concern correctly. It seem that you think that the fund will be creating upvotes (sorry if that's not what you meant, in that case, please clarify). We don't plan for the fund to create "upvotes". It will be kind of like a stimulus payment to a user.

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User's avatar Read.Cash
4 years ago

my bad then, I understood as the stimulus would be through something like upvotes. The incentive skewing would still be there, but it wouldn't show through the filtering if it's not part of the data used for filtering though.

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User's avatar JonathanSilverblood
4 years ago

Read.cash have been proven to act as a bridge between different sectors and thoughts of BCH community, It is doing well if you can remember a month back I shared some stats of its search engine present may be a month back. Here are my two cents, Right now it is acting as a community billboard which is doing best job it can possibly do. We saw this platform proving what it was meant to be in IFP event with that this platform work as a backbone of Flip Starter campaigns. Hence it proven itself as a essential part of this community ecosystem, Every business is only a good business when it has scalability, Think this as a business with a noble cause of being a essential part of this ecosystem. Now question remains What can be done to make it size growing and attract more tippers who can feel they are being benefited by coming on platform and reading the content? For that we have to use our wildest imagination and keeping the niche of this platform in mind. I did a attempt my self to use this platform as a introductory point for BCH to a lot of people with my campaigns I bought 96 of affiliates most of them tried to post content and then never came back because they didn't got any tip. So here are few things that might be get done on this platform and it came in my mind while typing this I am sure if we put are mind on it we can come up with more.

  1. Theirs should be a section in this platform look alike a online magazine may be BCH Weekly, In which read.cash choose a posts from last week which it think can benefit community and collect all of his in a different section and then this link to be share on different socials and community platforms . It will help community to read more focused content and tip ratio will increase as well as for other writers as it will get focused traffic.
  2. AS you can see while typing this I am getting ideas I think their should be a section for ideals only related to BCH and SLP I was thinking to make one where thinkers like me can put up their ideas which they cant accomplish their self to let others Doers do their work it will create a great ecosystem where Developers can do what they are in best Develop and philosophers, Thinkers can do what they are in best creating philosophy it will help BCh community in long run.
  3. Create some competitions let writers do what they are in best and readers do what they are in best voting system are up already get sponsor for writing competitions give writers a niche choose them their own topics , It will lit a interest of writers as well as readers as they will have a power to decide now and believe me this power of judging can lure more crowd then any thing, It may sound little bad but that's what we Human do we are good at judging so let give chance of judging things which are meant to be judge .
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User's avatar ralak
4 years ago

What can we do to get more tippers is a great question. But unfortunately we don't know the answer to that, we are trying all the experiments to figure out that :)

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User's avatar Read.Cash
4 years ago

Hi Ralak,

yeah, we're surely aware about how hard it is to get a tip and we're trying to do something about it: https://read.cash/@Read.Cash/homepage-and-the-bitcoin-cash-distribution-fund-cc9cd14a#some-plans and there are some more ideas in the pipeline.

Regarding the ideas:

  1. BCH weekly - it requires money or time, we currently don't have either :) Somebody needs to read a lot of material and write that article - that person should be paid. Good writers would take $50-200 for that article (I mean you surely wouldn't win anyone with $5 article which would read like a robot wrote it about first 3 random articles that the writer has opened)

  2. One thing that we're going to do about it is to show more relevant content on the main page, like on YouTube or something like that (i.e. where your interests decide what is shown). Or you can create a forum topic to discuss stuff like that (ideas or otherwise).

  3. Competitions are great, but they also require money and time :) In order for competition to be any interesting one should have probably at least $500 for prize money and quite some time to read all the articles that are submitted (which might be in hundreds). Even if we could probably find the prize money - the time is the problem here. We just don't have the time to read dozens or hundreds of articles in detail, but how do we honestly select a winner then? :)

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User's avatar Read.Cash
4 years ago
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