WHAT IS SMARTCASH?
If you do not know what SmartCash is yet, I highly recommend that you read my article about it by clicking => WHAT IS SMARTCASH? AND WHY YOU SHOULD CARE!. In my article I explained that my favorite part of SmartCash is SmartRewards. I explained how 15% of the block rewards each month will go to long-time investors or SmartCash holders. Yesterday was the glorious day when these investors and/or holders got paid for the first time and I was shocked to find out how much they got paid! Yes. I couldn't believe my eyes to be honest. They got a little over 400% return on their investment during the first month!
400% ROI IN ONE MONTH? YOU GOTTA BE KIDDING ME!
Yes. 400% ROI in one month and no I am not kidding you. Let's jump on the explorer together and have a look at one of the wallets. As you can see below, this user has held about 2250 SMARTS since July 22nd of 2017. On the 25th of August, he has received over 9K SMARTS from SmartRewards! You can check the details for this one instance by clicking HERE. The rewards are over 400% in just one month! I know!!! Crazy...
HOW ARE THESE REWARDS CALCULATED?
These rewards are 15% of the new coins mined in one month, and paid in proportion to each user's balance. With cryptocurrencies, mining starts off easy but as the time goes by, the difficulty level rises and it becomes harder and harder to mine new coins. You can imagine that during the first month of SmartCash, the difficulty level was the easiest compared to what it is now and what it will be in the future. As a result, about 44 million coins were put in the SmartRewards address in order to get distributed among holders and investors in proportion to their balance. What will this amount be next month? No one knows yet as it depends on how many new coins will be mined as well as how many users with how much balance will be eligible!
WHAT ARE THE ELIGIBILITY CRITERIA?
To be eligible for SmartRewards, you need to hold at least 1000 SMARTS in your wallet/address from the 26th of each month 07:00 UTC until the 25th of next month 07:00 UTC. You can add money to this wallet/address during this time but you cannot withdraw. If you withdraw, your address/wallet will not be eligible for SmartRewards payment which occurs on the 25th of the coming month, starting from 07:00 UTC. The 24 hours between 07:00 UTC of the 25th until the 26th is called the grace period where you can withdraw if need be, and prepare your address/wallet for the next round.
DO NOT EXPECT 400% FOR THE NEXT MONTH!
As I'm writing this article, there's only 2 hours left until you can prepare your wallet/address for the next round so if you don't even have a wallet/address yet, it's very unlikely for you to participate in the next round! But if you do, please do not expect 400% return of investment for the next round! Why is that you may ask? Because of a few reasons. First of all, as the difficulty level or hashrate increases, it will become more and more difficult to mine new coins which means less and less coins will go into the SmartRewards address.
Secondly, more and more users will join the program and the older users will have even more SMARTS in the addresses. Imagine those who got in last month and invested in 1000 SMARTS! Now they have 5000 SMARTS and if they hold that, next month they will get rewards in proportion to 5000 whereas new users will have to invest 5 times more than they did in order to get the same rewards! As you may know, early adopters will always benefit more and SmartCash is no exception. It's not too late though as SmartCash is still very new in my opinion!
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Was inspired to make some memes about this today:
Lucky you, just got in last August 16, invested in 2500 SMART too. Looking for my first SMART rewards on the 25th of September.
Why lucky me? I only got in very recently so I didn't get anything this round either :]
Sorry, I thought you were the one who received the 9000 SMART, did not read it right lol.
LOL! Nope. I wish :P
Well cannot wait for the September 25th for my first Smartrewards. haha lol
Vallesleoruther, I hope you did well!
Yes, excited for my second SmartRewards on the 25th, and Smartcash going x4 so far. Thank you :). Did you invest on SMART too?
Lol lucky you still too bro this is only 1 month old! :)
Yes, thankfully we are the first ones to discover this. I plan to keep my SMART locked up for a long time to generate more Snartrewards.
8k smartcash, was a lovely homecoming yesterday, smartrewards, is the new cryptohotness, onlything better would have been smartrewards on top of a btc fork giving a double free handout.
Nice! I wish I had got in as soon as you did :P
yeah my husband was so happy with his smartrewards!! I was jealous!!!
I am definitely excited for the next round :)
Great post btw! upvoting and resteeming!
Thank you! Hahaha. How can you be jealous! He's yours!!! :P
I can't wait for the next round either! :]
This look like a ponzi , u cant take it out or u wont get pay, and pull in more investor after u. Sound like bcc to me.
You do realize you are using Steemit right? And crypto currency in general? You may want to double check your understanding of ponzi schemes.
Im not saying steemit is a ponzi, im saying the smartcash is ponzi.
Why? Because it encourages and incentivises holding? Don't you realize that steemit does the same? Do you think anyone would be able to earn money here if no one powered up which means locking your money in and wanting to get it all back would take you 13 weeks? You don't know what you're talking about , do you?
can u see how smartcard make money like steemit? I bet u that you cant, just like bcc.
Upvoted and Resteemed by xx-votesplus, the dropAhead curation team!
Do you want more earnings?
By doing things above you will give us more STEEM POWER (SP) to give you more earnings.
Keep up the good work!
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What good information
Hey friend @msg768 , thanks for the information, it's a very good thing :-)
nice information
Then the price will crash with this inflation not so nice.
I wouldn't call this inflation. The amount depends on how much is mined and mining starts off easy and becomes more difficult as time goes by. With bitcoin, miners take all the rewards but with SmartCash, miners take 5% and 15% goes to holders and the rest goes to SmartHives to fund the project... Next month it won't be 400%... It'll be a lot less!
After 6 months the rewards will be drastically less. Like crazy less so it wont have the effect your worried about. :)
Nice post my friend
Good information
Thanks for this post. It is very useful.
400% is point-blank flabberghasting, I just got into SmartCash in the middle of October, so I have to wait until November 25th to get the SmartCash rewards for the next monthly cycle, but I'm hoping it's still pretty decent, even the low double-digit % would be great. WOW 400%!
Don't worry, even I myself lost on the 400%. But it was the reason I decided to buy in because I thought the next round would be at least 100%-200% but it turned out to be only 38%! :]
does that mean the coming rounds are going to drop exponentially? 400% to 38% does that mean the next rounds will also make similar drops? Is it kind of like downward parabolic curve rather than linear? What do you anticipate October 25th is going to be?
It all depends on how much how many people decide to hold. I can't tell you numbers but it will most likely be less than 20% for the next round...
Is it safe to say: as the mining gets harder to do (more work required for less SmartCash) and the number of people holding SmartCash grows significantly, we can expect the SmartRewards to shrink every month going forward. In other words, in the future years ahead, the SmartRewards are likely going to be less than 1% as interest in the currency grows prodigiously.
Yes. That's what is supposed to happen. But at the end of the day, it depends on how many coins will be mined each month and how much funds will be eligible. It is also possible that the project finishes earlier than expected and the community budget might turn into its own reward system to incentivise holding.
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