competition to win HIVE delegations based on achieving the highest ranking on Google with a post that focuses on earning rewards for consuming content.If you are yet to see the announcement, @abh12345 is running a
So, you want to earn cryptocurrency online?
Consumer rewards are something that many of us on Hive don't focus nearly enough attention on when advertising this place outside, as for the most part, we ourselves might see them as insignificant. However, they definitely add up over time and they are a great piece of the gamification puzzle, as they engage users to try to improve their numbers each week. They also add incremental value that gets pushed straight into Hive Power (HP) and this will compound over time and add a near effortless return by just voting on what one enjoys to engage with.
However, there is a fair bit of complexity in the mechanisms surrounding curation consumer rewards and unless interested, many don't have a good handle on them even after years of engaging here. This is because in comparison to earning through posting and commenting, for most, the earnings from consumption aren't that large. But they are important - as they are part of the further distribution and therefore decentralization of the blockchain and while only a small percentage may ever have the possibility to live completely off of curation, with tens of thousands of accounts consuming and earning, the numbers add up fast. This is even more true that the consumer:contributor rewards are now split down the middle 50/50. Remember, 35% percent of the reward pool goes to consumption efforts!!
Consumer rewards in a nutshell
Without going into too much detail, let's have a quick look at consumer rewards on Hive.
People who own HIVE tokens can "power up" and stake them on the platform, meaning that they have a relative percentage share of the HIVE pool of value, the new HIVE tokens that are getting created. This "share" can then be used through voting to direct a fraction of value from the pool for example, to an enjoyable post or an important comment. When the post payout comes after 7 days, this value is then shared between all of the voters and the candidate voted upon.
There are many technical aspects that affect the outcome of the value received, but for now, all you really need to know is that on Hive, you can earn cryptocurrency just by staking some HIVE and consuming content you love, from people you enjoy to read and interact with.
It really is that easy to earn some crypto on Hive!
Now, back to the question at hand. If this was your first day on the blockchain would - earn as a curator or, earn as a consumer - be more compelling for you to explore a deeper into the Hive?
Taraz
[ Gen1: Hive ]
I'd say earn as a consumer or consumer rewards makes more sense :)
I think so too - at least publicly :)
Participation Rewards! - Everyone is a winner!!
Love it!!
Has to be consumer as the masses wont understand curation. One thing I noticed is curation is now 33% of my earnings roughly . Overall it has been averaging about 10% but now it is 1/3 rd so like an extra post every day.
That is a massive amount. Remember at the start of 2018 when you had pretty much nothing? :D
Yep. It has totally turned on it's head and doing nothing special. I am not earning bucket loads on my posts, but more than I was back then. People don't see the importance in the role it plays for your growth. I am happy tracking 4000-5000 Hive on curation this year.
Yeah for sure. Hard work pays off and I am glad that I have been part of your journey in some way :)
You were instrumental in many ways and it was really appreciated. This place isn't easy but is a lot easier having a guiding hand. I will always be grateful for that. Have been looking for others to mentor but nothing sticking out right now.
You are most welcome, it has been a pleasure - considering how long the bear market was :D
It is amazing at how many people are still here from the time I started and I can probably count them on my fingers who has remained. Not very many which is a wasted opportunity for all of them.
I'd rather call them prosumer rewards. :)
it is weird that isn't a word - assumer - is for a niche market
lol
How about presumer.
Consumer/participation rewards favours people with smaller hive power staked. So I think I'll prefer that.
It is a process of give and take and the idea is to target new users, without accounts yet.
From what I've noticed in traditional/centralised social media, people prefer those places because of the crowd, and that they can participate in different fads that earn them likes. Most people will rather earn nothing for their content and will be satisfied with the drama and unmonetized attention, rather be part of a "clandestine" community that offers financial benefit.
So the question I have and ask sometimes is, do we necessarily need the crowd? and if so, how do we attract them?
It depends on how one looks at it, but I agree, we don't necessarily need the crowds in the traditional sense like Facebook or instagram. What we do need is many smaller crowds differentiated by use case and application.
Perhaps creating niches like communities and dapps that will attract specific kind of people.
If you want a term that's easy to understand for newcomers, use 'engagement rewards' maybe
But I think that even that would not be well received by normal folk. Consumer rewards is closer to loyalty points perhaps.
A problem for many is the IT language and even I still struggle with "curator", or is it "curation" or perhaps "Curating" these days. Maybe I have the wrong auto-votes, who knows.
Simplifying the language for non tech people will go a long way to improve matters for all comers.
So yes, "Consumer" sounds better to my old ears. At least I can eat something Lol.
:D this is a very good observation :D
Thank you Sir and may you have a good weekend!
interesting. I was not aware HIVE content would show up on google.
so I lean something and maybe help your ranking....
curator or consumer?
Guess I go both ways. HAHA
I have posts originally on Steem that rank through Hive now :)
Staker's Rewards/ Upvoter's rewards, you stake, you upvote and you get the reward.
Do you think that most people in the world understand staking rights though?
No but most of them can understand that more stake you have, more up vote you can give.
Yes, if they are already o the platform, this is true. A lot don't understand the concept of staking in general though - weirdly :D
That's because most people want to own worthless shit :D
:D indeed
Editor rewards?
Judging rewards?
Popularity rewards?
Early bird rewards?
Really difficult to capture the concept in one word. Agree, "Curation" is too dry and museumy.
It is definitely museumy - which doesn't really get away from the "quality post" debate. Editor could be too connected to writing?
Yeah, I was thinking like a newspaper editor, who decides which article goes on which page. Prioritising pieces, weighing their relative merit, more than spell-checking. Agreed though, it's not great.
If there was differentiation between applications, each could find suitable terminology for their use case, but at a general blockchain level, this is difficult.
"Consumer rewards" is probably easier for a lot more people to understand off the bat.
Then again perhaps some/a lot might like to see themselves that they're "curators" rather than
mindlessconsumers? XDMost in the world probably have never seen or heard of a curator before - art nerd ;D
In fairness I only ever thought of curator in art/history museum context so when I first heard someone describing themselves as "curating posts" on G+ I was like wtf XD
I definitely do not curate, I'm a comment/upvote spattercannon x_x
"spattercannon"
Sounds like the title of a porn movie :D
It probably is but despite being morbidly curious I'm too scared to check XD
still trying to get the computer to do the thing that's making it crash and my phone is on charge and I will probably forget by the time it's not
'earn as a consumer'
On the first day, almost no one has any capital to actively engage in curation. But everyone can beat with their fingers on the keyboard or use one finger on the phone screen.
Even with low or no HIVE stake, an SMT could be used to start people off straight away without risking abuse of the chain
Interesting idea. Do you remember how you started?
The golden promise
I remember it very well, the image in that poem was taken the day before I started on Steem. When I came in, I had zero expectation and no experience with blockchain or social media "marketing" at all. I just started to write, and then found that even though there was not much value coming my way financially, the benefits for me personally kept me writing. It took me 10 months before I bought my first Steem.
Consumer rewards would be great, but it also creates an expectation of earning just based on consuming. You don't really get any kind of reward being a basic consumer on Hive. You have to have invested substantially (time, effort and/or money) already before you are really making those rewards.
I would like that in the future there were more subscription type services that used stake - subscribe to all for 10.99 a month - and there is an "auto-buy" that converts it to HIVE if people are too lazy to do it themselves. A subscriber to Hive would have (at these prices) about 400 HIVE at the end of the year from subscription conversions and then about another 30-40 from curation rewards. The next year, even without subscribing they could earn another 60-80 - by then they might just be buying themselves on markets.
Consumer rewards make sense because people are already used to being referred as consumers.
Come to Hive for "Cow rewards" - you are one of the herd.
:D
If that's how we get the masses, so be it :D
It would still be very legit to call them curation rewards. I hope very much they will become true consumer rewards in time.
Sorry for being an ass but finding a good content to consume still requires quite a lot of time and effort. But again i certainly hope we will eventually gravitate to a point where it will be a few clicks away.
Summarizing i can say that now we can curate nearly effortlessly, and we may choose to consume with the effort. Which is by far more enjoyable experience if you have time to spare.