@Read.Cash
Fund spending We are changing how the fund spends its money. Previously we were spending 0.5% per day, because we had no idea how much is there going to be in the fund, but there is a problem with that. Let's assume the fund has $40,000 and the active monthly number of users that the fund pays grows at 500 users per month. Here's how much the fund will have in 12 months:
It doesn't look that bad, we start with $40,000 and end up with about $7000. However, the problem lies with the user base growth. In the first month there will be 1,000 users getting paid from the fund (just starting with a random number), but by the years end, there will be 6,500 users being paid from the fund. So an average user might get:
$40/month in the beginning and... $1.10/month by the years end. The problem here is that 0.5% per day rule means that we spend the most money in the first months (where we have much less users) and we don't leave too much for the future. With that said, we're changing the spending to fixed amount per month, increased as necessary. That way we're not spending too much money in the beginning, but if the fund grows we're still able to raise the spending bar. The banner at the top will inform you of the current fund spending:
Remember that the fund has only donors pledging Bitcoin Cash, showing USD amount at the current exchange rate, so if Bitcoin Cash rate drops - the fund amount also gets lower.
27 comments
Hopefully it will grow.
This is good that's why I cant Access the Website awhile ago
No, we had a server upgrade. We put up a warning for about 10 minutes as we were expecting it to take less than a minute, but in reality it took 10 minutes.
Yes but all good thanks to that.
Hmm, this is interesting. Now that the monthly funds spend is fixed per month, how will it be distributed in proportion to each users work? Again this also means as numbers of users increased as the months roll on, the earning rate per user will drop
See the article: "With that said, we're changing the spending to fixed amount per month, **increased as necessary.**" The distribution mechanism stays the same, as previously https://read.cash/@Read.Cash/the-random-rewarder-fa56be9b
Oh that's it, increased as necessary when funds increased right?
When per user earnings drop and it's possible to spend more without destroying the fund, not when the fund increases.
Oh well, that will be great. By the fixed amount per month, does it also means fixed points per action, though i don't really know how the points system works now
You're thinking too much about it. It's really simple: write interesting articles, get paid, that's it.
Just my way of getting info for writing
I am assuming that the fund will work much better that way when it can serve the really purpose of it that is engagement and create Great content on the platform, after the content creators have been following this guidelines will be much easier to the new ones to assimilate it and earn only for the articles that get tipped not bad strategy at all, well done🙌
I hope it will reach 200k
I understand Sir. Thanks for the update. 👍
Hopefully the fund will grow sooner. Thank you read cash for your updates.
Thank you for the information dispersed. Though. I hope we get more donors and the fund grows too. Long live read.cash
Long live read.cash Ok, but can we also know the calculations done that led to the daily total fund pay to be at $133. It will be nice to also explain how we ended up with that amount. Thank you
$133/day is about $4000/month, so $40K is spent in about 10 months, assuming some user growth it should be enough for about 6-8 months.
Does that also mean that without anymore donation, read.cash will only be able to hold on for 10 months top?
I give kudos to @read.cash for taking care of the fund aspect of this noble website. Fund management is critical in sustaining any business concern, else it may go bankrupt and it will be suicidal.
This makes sense to me. Really awesome to see the support and community developing so fast now :)
Read.cash why aren't you on Twitter? I'd love to do an interview with someone from the team as I have done with essentially every blockchain social platform. Please reach out to me on Telegram or any platform @scottcbusiness or email scottcbusiness@protonmail.com. Thanks!
Twitter is very toxic place, we were there, but left. Sorry, we won't give interviews.
Now they are on Twitter by the username @readcashblog. You can join.
But you didn't say how much actually is the fixed price or we find out by ourselves?
thanks for the information hopefully many funds come
I'm sure there will be more Users coming in the following Months. We all hope that this platform is ready for that. We wish for this to last cause it hepls us to earn a small cent's the same time we learn and Practice our writing skills that we can all use someday. Stay strong team of Readcash and rhank you for this opportunity to learn and earn.