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[flagged] Pay to upvote? (honest.cash)
6 points by wandcrypton 5 months ago | hide | past | web | favorite | 10 comments

From the article on Honest.Cash: "The current upvote amount goes 40% to the writer and 60% to the previous upvoters". The upvotes are distributed to 1, 2, 4, 8, 16... previous voters.

Simple calculation: First voter gets their money back with the 5th voter. But the 5th voter only gets their money back with the 69th voter.

The first voter doubles their money with the 32,769th voter and the second voter doubles their money with the 33,554,434th voter.

So doubling the money is very unlikely for even the first voter and impossible for everybody else.

So if I'm honest, I don't think this algorithm will provide much incentive to vote.

If you are so skeptic about the algorithm, why did you post it here?

As I read through the way payment amounts are handled I can't help but remember the owner of a company I worked for a long time ago saying, "there's money in confusion".

The domain name is painfully ironic.

Why? They have a different business model and take no fees, the upvotes are not considered an investment but a social game and it’s fully transparent. Some guys have already made +1000 usd for blogging there. I tested the upvotes and it’s created in a way that if you upvote good content you get more or less the same back. It seems to be growing very fast, I see it everywhere making headlines.

  the upvotes are not considered an investment but a social game
If one has to create additional throwaway accounts[0] to submit comments in defense of a given behavior, that's a solid confirmation of its dishonesty.

[0] this account was created immediately before submitting this comment

Perhaps "pyramidscheme.cash" was already taken.

Here are the tips: https://honest.whotipped.it/Chart/

It seems like 20-30 bitcoin upvotes happen a day.

Is this for social media networks or the Honest Cash website?


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