You can now pledge to the read.cash fund

19 282
Avatar for Read.Cash
3 years ago

You have probably noticed this thing:

Yes, we're continuing the development of our distributed fund. If you have no idea what it is - it is a way to support active users on read.cash with Bitcoin Cash and to invite new people to use Bitcoin Cash (and it is an experiment).

You can read more about the fund and how it works here.

Now you can pledge your own money to the fund. Please note that your money will stay in your browser, so you can cancel the pledge at any time.

Your pledge will be given out to active users of read.cash every day that you visit the site. So, yes, it's not enough to just send the money once, you need to visit the site periodically. It's not the best solution, but it allows us to not hold your money (which would require expensive licenses). It might be possible to make this spending in the background without a visit, but we haven't researched that possibility yet.

This is not the final banner look, we'll definitely need to add a detailed information about our top generous donors and about your particular participation in the fund (both as a donor and as a person receiving the payments).

Another thing that needs to be implemented yet is the point system. Currently we're giving away equal amounts to each user (which results in payments of a few cents or less), but in the near future we'll start giving points for active actions (articles written, comments, upvotes, probably even forum participation, etc...) and distribute funds only to the active users. Because otherwise we're stimulating people to create duplicate accounts just for the sake of getting a few cents. Too easy to game and we don't like to be gamed :)

LATE EDIT: And, as predicted we have a record number of "new" user registrations. (Ok, they're clones, obviously) We'll let them have their fun for now

Record number of new users. We'll let you have your fun for now 😉

Today the fund had about $146 and therefore sent $0.73 to 233 users, resulting in each user getting about $0.0031 in Bitcoin Cash - remember to spend it wisely!

Ok, jokes aside we've sent invitation to some nice people and now we have about $2,000 pledged, so tomorrow's payout should be more interesting (about 4-5 cents per user).

Our end goal is to eventually have about $1,000,000 in the fund, which should be more than enough to support some hundreds of really good writers for about a year and create a huge incentive to join the Bitcoin Cash world.

Every user that joins read.cash is one more user that finds out about Bitcoin Cash and how it works.

16
$ 3.40
$ 1.00 from @emergent_reasons
$ 1.00 from @DavidRAllen
$ 0.50 from @Cain
+ 5
Sponsors of Read.Cash
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3 years ago

Comments

So no need to be active?comenting, posting? just visiting and reading artciles?

$ 0.00
3 years ago

Currently, no activity is needed at all, just a visit to read.cash at least once in the last 24 hours. But in the near future (about a week) a new point system will be deployed, points will be given for any meaningful actions: writing comments, writing articles, upvoting, forum discussions, etc...

$ 0.00
3 years ago

Great, Thanks for the info

$ 0.00
3 years ago

Good idea

$ 0.00
3 years ago

Thanks for the information.

$ 0.00
3 years ago

Honestly something like this was very much needed to keep the users interested! Looking forward to being more active here!

$ 0.00
3 years ago

Ummm, I think you should have a better garbage solution giving a thought that you are handing 'free' money. Scammers will definitely try a hand or two LOL

$ 0.00
3 years ago

Yeah they will, but it's definitely by no means "free". It is given only for certain actions that require time to complete (writing articles, comments, etc...) But yes, we're aware that people will try to abuse it and we're definitely monitoring the situation.

$ 0.10
3 years ago

Hmmm, yes, hopefully this intervention feature will make the difference and entice the usual users to participate more. I don't have much time. Maybe I could do a few comments per day. It seems that I am good at it hehe.

$ 0.00
3 years ago

Minimum deposit to fund amount?

$ 0.00
3 years ago

This feature is really cool. Thank you. I will donate some to the cause for sure

$ 0.10
3 years ago

super cool feature

$ 0.10
3 years ago

@Read.Cash thanks for the info and for the rewards system, good job.

$ 0.00
3 years ago

Best wishes with this experiment! Anything for the benefit of true Read.Cash and BCH users will be welcome. However, the implementation of a fund like this has its problems: the multiplication of false accounts which leads to Spam publications. One solution is to have a content curation team that determines whether a post is spam or not. The downside of a healing team is the subjectivity of the criteria for deciding what content is spam or not. Which leads to possible censorship. If they implement a curation team, they must also establish a coherent public criteria to define what content is spam and what is not.

$ 0.00
3 years ago

Thanks! The point system (see in the article) will solve that. Basically it will be exactly as profitable to have one account as having multiple accounts as you'll mostly get points for things that benefit the community - good comments, new articles, discussions, upvotes, etc... So, yeah, we have a temporary uptick in new accounts, but that's not for long :) Soon it won't be enough just to have an account.

$ 0.10
3 years ago

Thanks for answering! I really hope the point system is fair. I have seen quality content that is simply not appreciated and it really discourages me from continuing to write. It is a great effort that you are doing for the whole community.

$ 0.00
3 years ago

I have seen quality content that is simply not appreciated and it really discourages me from continuing to write.

Sorry to hear that. We understand the problem, and we're trying as hard as we can to solve it.

Upvotes and downvotes (just released today) should help with that and they will be integrated with the new point system as well. So, good content should get more attention and money soon.

$ 0.00
3 years ago

Assuming you know how toxic downvotes can be in a community ?

$ 0.00
3 years ago

So far it hasn't been abused, but we're always open for the feedback. We might cancel it or modify how it works based on any problems we discover.

$ 0.50
3 years ago