The Noise Cash Experiment
One of the main attractions to this blockchain and it's related projects is the promise of decentralized social media. Or as the cool kids might call it, Web 3. And about a year or so ago, the #ProjectBlank project had everyone talking...
Twitter, on chain!
We were all pretty excited and still are. The Leo Finance community started referencing a project that captured the essence of Project Blank, however it wasn't on a blockchain and you were rewarded in Bitcoin Cash for being an active member of the community.
I was excited to poke around, because I'm a raving fan of Twitter and couldn't wait for Project Blank to launch...So I took the advice of some folks on Leo and started poking around.... Noise.Cash!
What is Noise.Cash?
It's a privately funded social media platform that's the short form version of the popular Read.Cash blogging site. Keep this in mind, it's privately funded. It's not built on a blockchain and there is absolutely no delegated proof of stake mechanisms in place to create reward pools...It's all out of the pocket of a few BCH whales, that hoped to raise awareness for Bitcoin Cash.
When I first started posting, it was great! You had some fantastic engagement, the community really seemed fired up and heck, I even earned over a full BCH in about 10 months of using the platform regularly. Free crypto for adding value to a platform!!! I loved it!
However over the past few months, things have seemed to slow down quite a bit...And a few warning signs that started to pop up that have hurt the experience...
First ...They would run out of funds! They never tried to ad monetization to the site, even though it was at one point one of the most visited sites online. So all the BCH that you would get to 'tip' others, was all out of their own pockets.
Second, this was a VERY pro-BCH platform. If you mentioned Hive, or gasp Bitcoin itself, you didn't feel that welcomed at first. They slowed down with the 'anti-any-other blockchain' stance after a while, but it was still....A pro-BCH platform that never really felt like home for different crypto.
Third, the eventual lack of updates from the owners of the platform. About a year ago, they showed up daily and were working on developing the platform to make it better. But now it's been...Crickets...
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This is what hurts me the most...When Noise was crushing it, these guys were making improvements all the time. They stacked win after win, however now it just seems like no one is home. Which brings me to...
Fourth, the tips are really drying up. There is no rewards pool / inflation to earn from and it's not on a blockchain that can even build one. Maybe it can, but from what I can see, there is no desire to even think about building something that is self-sufficient.
And sure, we can tip others out of our pocket and I've done so quite a bit over the past year of being on the platform...But generally, if you don't have a way for people to earn in this new model, they won't stick around.
Engagement is down and sadly...While I used to post daily on Noise, now I might post a pic of my gecko once a week....
I was a massive fan of this platform. We even added it into our training at Start Earning Today, and I grew my followers pretty quickly. It captured everything we've been raving about for 'crypto' related social media and made me even more excited for the future of this stuff....
However, Noise just seems to be a sliver of what it used to be and what it's potential could become.
I hope they turn it around.
I really do.
It's such a clean and easy to use experience, actually it's one of the best I've ever had when it comes to any social media platform. But without any updates from the dev team and a community left in the dark...
Something needs to change!
Will it return to it's former glory and make some more 'Noise'?
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Posted Using LeoFinance Beta
Thanks for the post. Read.Cash was interesting for a bit. It may still be, or it might be just like Noise.Cash. Also, solid closing line. 💪💯
I never really messed with Read.Cash, but I know it's very popular!
Where does the liquidity pool of hivepay.io come from? just curious.
From us originally, we funded it. Now it's just what people put in and swap back and forth :)
Wait so at this moment all the balance within the liquidity pool is from the fees charged each swap at .2%?
nope. we put in quite a bit of swap hive and hive.
This pool?
Yup, that's the one we funded :)
Thanks for answering by the way, am just curious about how these swapping things work.
The birth and death of a business? lol But I think it shows a lot of important lessons such as.
It was like, such an awesome platform..,But like you said, lessons to be had for sure.
I hope they turn it around, it was one of the cleanest experiences I've ever had.
I could never login again after it kicked me out one day. I was enjoying it too. Too bad.
!PIZZA
ha ha ha ha Wow. Really??
Yup. Tried like 10 times.
man. that’s rough. sorry to hear that.
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I love noise.cash and I know many of you guys from the Splinterlands community in there, that is awesome, by the way. However, it seems sometimes as an experiment to launch some kind of twitter competitor somehow. And all those constraining rules about not mentioning this or that word, for example, "tips" (Ha! I mentioned it!), it seems as f the platform is beginning to wither from lack of interest from the developers. I also hope they turned it around, but if they are going to continue to swimming against the current, it has not future, at all.
Posted Using LeoFinance Beta
agreed. it’s got some massive potential. but no updates from the creators just makes me worry.
https://twitter.com/Jon_G_Olson/status/1514454676103589889
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I agree it was a great platform I used to post there some myself (gasp even I was posting lol) but now if I get on there a couple of times a month would be a shock.
I hope they get it fixed as it was and could be a great platform.
when things were happening there every week it was a great place. a fantastic community to be involved with.
memo.cash is 10x better than noise.cash was but memo wasn't funded so i think that caused people not to use it.. however as far as capability and development i felt it was quite impressive
Posted Using LeoFinance Beta
ahhh really, yeah I never got to try that one out :(
NB: I realized I am talking about read.cash. I always wanted to try noise.cash but never put the time to.
Well I liked it at first and had quite some success but then they put me and other accounts in some kind of a shadow banned. As we were posting our content on other website (Hive…) they kicked us out of the bot voting system. Without ever saying it but from one day to the next, no more tips 😀.
Then I continued posting a bit and stopped 6 months ago. The platform is honestly quite shitty and the engagement is very low level.
That is just my own opinion, I might not have connected with the good crew.
Yeah it really started to slow down, literally about 6 months ago. And ya, if you mentioned Hive, it was frowned upon.
I hope Leofinance team can look and learn from Noise.cash. I also loved the simplicity and clean UI of noise which made it super easy to get started.
Really hoping "project blank" will be the successor of Noise!
yeah they really got it right with the ease of use for sure. hope blank follows suit.
nah, that ship is sinking and going to the bottom. The free tips have stopped for me since January or something.
I think i’m at 10 cents a day to give out now lol
If I am not wrong the platform is funded by Marc De Mesel. As long as he funds it the people will continue to get the funds through tips. Admin wont be active much as it runs auto pilot. But the thing is that they need regular funds for the tips to appear in the account. I think apart from Hive it can turn out to be a good side revenue source. :)
Problem is, the funding for that thing will dry up unless that guy just wants to keep feeding it forever. I'm all for free crypto lol But it's not sustainable.
I never joined the experiment but it does seem like the BCH whales just got tired of it? I think being sustainable is probably the biggest reason you listed that might be the issue. They probably just decided that it wasn't worth it just based on the money they put in. Or that BCH didn't go up in value as they expected.
Posted Using LeoFinance Beta
It's really weird, because it had all the right pieces to be a success...But as soon as they started to stay quiet on the updates, that seemed to really hurt.
I'm not sure how their system works but I still get a good few free tips to give out. My account is usually between 50 and 70 cents at all times to give out.
I don't get many off other people any more though so I might be the exception.
Posted Using LeoFinance Beta
Yeah I mean, I used to make a post a day there and easily get about 1-2 dollars worth of BCH per post. Now it's more like 10-20 cents per post lol
Noise cash was also the first monetized micro blogging platform that I have came across and still use through today. The rewards are very low these days compared to that of last year but perhaps, users have multiplied and the $4k daily rewards are split into lots of users? I do hope things will turn around and it will become lively again :) I still love it though :)
Posted Using LeoFinance Beta
It's got so much potential and they usability of it is second to none. Just needs some updates and dev. news...I think that'll restore confidence.
Yes, that's what is missing indeed. They used to be active. I didn't notice they were not until I read your post.
Posted Using LeoFinance Beta
The truth is that I arrived late to that platform, I have never understood how it really works. Then came the Spam, well it's clear that I have a problem with that concept. I don't understand it, it's spam to say what a beautiful day it is, greet people, comment on a match live and rejoice over the goals or the best plays, etc. If that's spam, twitter, Facebook and the rest of the social networks are pure spam. It is more every day of my life of any social person from the time he gets up until he goes to bed is Spam.
Well, I already said that I have a problem with the Spam concept, I hope I haven't bothered or spammed.
When they were developing it every week, they put a big emphasis on tackling the spam issues. It was getting better.
I agree. It was so good at the beginning, it was the first site I open the moment I wake up. The engagement was great too. Now, I barely visit the site. Maybe once or twice a week these days. Hmmm, it's Thursday and I've not visited the site this week!
I rarely post now, but I do tip others if I get the tips lol
I used to be excited about Project Blank.. but it's been so long now the excitement has waned. Kinda reminds me of STEEM and SMTs
Oh it'll happen...They are just doing so much in the DeFi space, it kind of took a back seat I think. But I have no doubt, Project Blank will blow people away.
I really don't know how the tipping mechanism there is working. You really need to tip alot from your own wallet to get any traction.
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That seems to work, the more you tip...The better!
Mhmm! Noise is not music to the ears it seems . Nothing beats Hive , sentiments apart.
You can't expect people to tip out of their own pockets forever.
Self sufficiency is key for crypto social communities and as we know very well here on Hive, the tokenomics are HARD to get right.
Plenty of lessons we can take from Noise Cash here.
Posted Using LeoFinance Beta
I also enjoyed the concept, because it felt familiar like mainstream social media, with the added bonus of earning, but stopped at some point because of time and would rather put in the little time I have in Hive and/or dBuzz.