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Alpha_ProgDes

Would cryptocurrency work for GDN?

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https://steemit.com/

I'm still reading about it, but it seems that you can [somehow] make money by creating content and having other users like it. This sounds like a wonderful idea, but is anyone familiar with how this particular cryptocurrency works with a forum? Assuming it was as straightforward as

  1. Create
  2. Like
  3. ???
  4. Profit

I still don't think it would cause an avalanche of quality content. Anyway, I'd just wanted to post this just to get ideas flowing and introduce something new (at least new to me).

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Had this exact idea about a year ago for GDNet, but didn't dive into it too much for various reasons. Open to hearing opinions though.

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3 hours ago, Scouting Ninja said:

How does it even work?

That's the million coin question. I doubt you just click and money magically appears. I mean something like this could revolutionize... the internet, business, financial independence, education, and [other things that don't come to mind]. But way too much "magic", for right now, to be confident in how it works.

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8 hours ago, Alpha_ProgDes said:

That's the million coin question.

Doesn't it work with adverts. Like the site gives the contributors part of the money that there content is generating from adverts?

Maybe they use the users traffic for some kind of research. Like they check what topics users like and sell that info?

Could also be that the users linked is running some kind of code in local space, so that each user links helps to calculate something. So having users linked is worth money?

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Crypto currency is superior to centralised when you really don't want anyone to be in control of the coins... If you just want to share ad revenue with contributors, you can just use a centralised model (e.g. The 'pixel' points). 

Coins are also only tradeable if they have value. Steemit coins have very little value - you can buy them to boost your reputation, and only sell them to people who want that service. This is pretty niche and limits appeal - e.g. I'm not going to sell copies of my game for rep points :P

If coins were backed by a central issuer by something else (e.g. Can be redeemed for part of a forum's ad revenue), then again there's no need for it to be a distributed/crypto system... 

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Posted (edited)

I think that for such a case some projects that are based for work with social networks will do. In them, users receive tokens for their time online or for activities related to other people. You can use your token, or you can use existing ones, by the type of Litecoin, with which I constantly work and exchange here https://hiribi.com/

Edited by Noel_Clarke

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