An interesting but slightly disappointing experience
We have asked out community to try out some websites. The idea was for them to sign up to these websites through out referral link and be active for a week. We wanted to see how much people were able to earn and how much it would bring to the project through referral commissions.
The websites that we asked people to sign up with:
Cointiply
Viefaucet
Firefaucet
Freebitcoin
In a second mission, we have asked about their feed-back. We asked several questions regarding the time invested, the feeling or the earnings.
The feed-back of the community
Of the 4 websites that we asked people to join, there wasn't one where people were all happy about. There were issues regarding completing the captcha on one site, there were problems about a website that is not available in all countries. Then there were issues with pop up's and spam.
In general, the feeling was that these websites were a waste of time. I did the same exercise than the community and unfortunately, I kind of agree with their opinion. Most of the people earned less than 1 $ in a week and very few earned more than 0.10 $. I concentrated on doing surveys on the website Viefaucet and I managed to earn around 6$ from it. I probably earn that much because I live in Switzerland and because of that my surveys reward much better than in other countries.
Return for the community
By signing up to these websites over our referral link, people were generating referral commissions for Liotes. With all 4 platforms combined, we earned about 0.9 $ referral commissions. Considering all the efforts put into this trial, this seems pretty low.
Together with the referral commissions, I've decided to put all my earnings that I generated this week into the pot that will finance the diesel pool rewards of LEN:LENM. I manged today to withdraw 40 Doge from Viefaucet that were then swapped for hive, and we could power up 36.35 Hive on the @liotes.learn account. This hive power is delegated to the @liotes.voter account and it will generate daily LEN dividends that will be used at a later stage to fund the reward pool linked to the diesel pool LEN:LENM.
Conclusion
My idea was to create a course that would onboard people to hive by first promoting the websites that were tested here by the community. They would generate some income that they would then transfer to hive, power up and then delegate to liotes. It would create several passive income streams for them. At the same time, I hoped that the referral commissions of these websites would provide an income for Liotes that would fill the account liotes.learn. It would bring money from outside to hive and to liotes.
Now, after a week and the trial made by the community, I'm not so sure that this project is worth pursuing as such. The income generated from these websites is simply not interesting enough and there are many problems linked to them. Do we really want to promote these programs and let the onboarding process be centered around them? There are more open questions now that we will require some time to be answered.
A big thanks to the community
We are aware that we asked quite a lot from our community and we are very grateful for their help and the time that they dedicated. If this experience was rather disappointing it's definitely not because of the community but because of the rewards that can be generated over these programs and the issues that came with them. Hopefully, we will find a better way to promote Liotes that will profit all the stakeholders of the project.
P.S: 50% of the author rewards of this post will go into the liotes.learn pot.
Liotes
A project run by @ph1102 and @achim03
Unfortunately, these sites don’t work very well, and when they do, it takes a lot of effort for little reward. But the intention was good, and that’s what matters. We’ll find a way eventually.
I think the idea isn't that bad, we should just try to find programs that are less annoying and provide more income.
Referrals on a community basis are super hard to accrue. We used to run a stat website for crypto dapps/games, using the referrals as a community pool. To make a real dent you’d have to have users spending millions to give a trickle of rewards. Unfortunately it’s not particularly sustainable, especially as most users inevitably would rather use their own personal refs rather than help fund a community pot.
One suggestion that may be worth checking out is ‘kepithor rewards’. As you mention rewards won’t be amazing however the team there are making some major leaps forward. This is their ‘reward’ app that provides users a share back from ad revenue. All you have to do is listen to an audio ad and earn. The team also have a few other games, those are well worth checking out, if you like games of course!
https://www.kepithor.com/game/kepithor-rewards
I of course have a ref for this, but wouldn’t earn much from it. I believe it asks you for it when signing up, feel free to add SLOTHLYD if you do check it out.
Rollercoin used to be a decent app for users to earn a little, not sure how good it is recently. Nice work trying out avenues for creating revenue. Hopefully a little more can be added to the pot over time.
Thanks a lot for sharing the website Kepithor. It might be such things that we could try out.
I believe that it would be great if we could generate some real income stream from outside of hive. This was a first test and we will go on searching for options :-)
I think that your objectives for the onboarding process are very sound. But it's difficult to find external programs that match the earning rate of Hive.
One way that works for me is to generate a little crypto from activities that I would do anyway. Especially, sMiles walk-to-earn and Club Bitcoin from Thundr, which is a few Satoshi from playing solitaire. It's only about 1 Hive per week. But it's no extra effort because I'm doing it anyway.
Perhaps, collectively, we might be able to create a catalog of external revenue sources that can be used for funding this process? Because I believe that the referral revenue could be significant once enough newcomers are onboarded.
That's a very good idea. I was thinking about it and we could create a kind of list of sites that could generate income for the project. New people and existing ones could check the page regularly and when they see something they need, they could use the referral link to sing up or purchase something. I think that would be a very interesting way of generating return.
To know if it was worth it, you had to try it. The experience is not good but it leaves a new knowledge (at least for me and I'm sure I'm not the only one). We will find other paths, the community has responded by working for a common goal and that is the most valuable thing.😊
It's amazing to see how many took part in the experiment. Even though it wasn't what we expected, it's great to see so much participation!
Yes, there are always problems with such sites, but at the same time, it is proof that there is nothing out there that is better than Hive. As I mentioned, I earned some points. I don't have any wallet outside Hive. Is it possible to somehow send you the points that I have earned and you put them in a liotes fund?
It's true that it's difficult to find another place where earnings possibilities are similar to hive.
If you want to donate the tokens to liotes that is very kind of you :-). When you have 30'000 credits you can withdraw in Doge. Here is the Doge address of Liotes:
DGdsmVvL7uitoMR79LLrmrSxA5jHhM29y6
Just give me a heads up when you make the withdrawal so that I know where the money comes from :-)
OK. Now I have about 12K.
I might keep using it, however I won't push it up seriously... maybe 5000-10000 pts a week is still considerable normal
I believe that many small sums could add up to something interesting but we would need a lot of people contributing to bring it to something countable.
That 90 cents in referral commissions is really terrible. I would have thought it would be at least 10 times that amount with the number of the number of people who joined. :(
I have to say that I expected much more and it was definitely a bit disapointing. The problem is not the lack of participation but the very little return that people can generate over these websites.
It's not a bad attempt and even if it didn't work out well, the original idea is good.
I think that one option would be to participate in quality airdrops and promote them. For example, in the last Grass one I got about $100 and I didn't make much either. It was an airdrop that I found out about through someone from Hive, now I don't remember who, and I became their referral.
This is a very good point, there are a lot of options that are open and that we have to explore. Airdrops could be something worthwile. I believe for the concept to be successful, the income for the participants has to be higher. People are not willing to work for peanuts.
It's disappointing when efforts don't lead to the desired outcomes.
Hopefully, there are valuable lessons learned from the experience that can be applied to future endeavors.
!WINE
Even if the outcome wasn't what I expected, it was great to see the whole community kind of working together towards a same goal. I found that very nice :-)
One positive thing is that it shows that HIVE does seem to be superior to these websites in terms of generating returns. Of course, that probably will not be the case for new users and those who don't have any skin in the game, so to speak.
I would say that new users need a lot of patience before they get some interesting income but it's true, the potential on hive is much bigger.
It's alright. The idea was good but just that nowadays such sites do have loads of pop up and captcha. Thanks for rallying the community.
That's the side of the experiment that I really liked. It was great to see how everybody took part in the effort!
Pretty much from any point of view faucets can't compare to Hive, and I understand the disappointment many may have had. But I still use them because there are times when mindless mechanical action is pretty much all I'm capable of. That's when I fit them in. But sure, I agree, for successfully onboarding to Hive probably a better funnel needs to be created.
This is really true. I knew that the income whould not be great from faucets but still I didn't expect it to be that low. We will look for a better way :-)
It was what I expected from faucets. They don't earn much considering the effort, but it might work out better for the people in 3rd world countries. This was a learning experience and it reminded me of how I moved away from them over time.
I had a very similar experience. I know why I don't really want to do faucets anymore lol.
It was still an interesting trial after all. :)
What I liked is that it allowed the community to work together and I think that it was really nice to see everybody joining their efforts.
Few years back doing faucets and PTC sites was fruitful and having a good set of referrals made it better and every click had a good amount. So reaching payouts was not that difficult. Crypto prices were also low.
But nowadays, faucets pay very low amounts and very unrealiable. Prices of altcoins have gone up.
Didn't earn much. But i would say a Good workout finding upside down images in captcha :-)
!PIZZA
PS: @achim03, I checked on CTP discord, and CTP tipping bot is still under development. He has some work to do on it. Hopefully it will be back soon
Haha, I had to laugh while reading that. At least they came up with a unique captcha :-)
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Well, there are few active people in Liotes right now so the low reff commission is expected. Some people don't even enjoy penny pinchers' websites 😂. !LOL
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Well people on hive have found a much more rewarding experience and it's normal they get bored there :-)
I agree that the sites were pretty spammy, it wasn't a terrible idea in theory, but in practice it just didn't work. I'm open to support any other fundraising ideas in the future. !BBH
That's very nice. What I liked from this experience was to see the willingness of the community to put in an effort and to work together. That was quite exceptional in my opinion!
@liotes! @ironshield likes your content! so I just sent 1 BBH to your account on behalf of @ironshield. (6/100)
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Faucets were very good approximately 10 years ago.
For example I earned more than 10 000 Dogecoin with them.
But I sold all of them much before Dogecoin became popular (when 1 Dogecoin was around $0.003 USD), because I thought at that time that Dogecoin will not have much value in the future.