Noise.cash yesterday reached the 50 registered users in just over 30 days, a truly incredible result in such a short time and a massive participation due more to word of mouth than to the advertising of the platform, currently still in Alpha version. What is its success due to?
The mechanism behind the platform is to reward users for their participation. How? Each user receives daily free tips in Bitcoin Cash, although the value is shown in $ to provide greater convenience for non-expert users. The tips are blocked in the platform's own wallet but cannot be withdrawn by the user but must be spent exclusively by donating them to other users and deciding to keep a part for you, which ends up in the BCH wallet that the user entered during registration . The rewards that other users will donate to our posts will also flow into this wallet.
In this way, word got around that it was possible to get free coins simply by doing what we regularly do on social networks: posting messages and images, this time receiving small rewards. Users started signing up on the order of over 1000/2000 users per day.
The effect on the number of transactions has been exponential and in less than a month they have increased from around 20k / day to 230k / day, almost reaching the daily BTC transactions that are around 315k / day. A strong shock to the blockchain has certainly been implemented.
Question: Where did these coins come from and how long will this last?
At the moment the funds are made available by Marc De Mesel, a financial investor, Bitcoin Cash enthusiast and donor of the funds for noise.cash and read, cash. A couple of weeks ago Marc donated BCH 1000 to READ.CASH and is currently donating $ 3000 a day worth of BCH to noise.cash, increasing it from an initial fund of $ 1000. In the long run, noise.cash will rely on a self-financing system with funds derived from advertising and other marketing strategies and various collaborations. Marc De Mesel is a high profile investor and these donations are not lost money but a marketing process that will produce positive effects over time. To date we do not yet know all the details of the noise.cash roadmap and when the definitive release of the platform will be expected but it is clear that the mechanism works and it is desirable that these numbers will still increase in the coming months.
The effect that we would have expected is a sale of the coins with a price tending down and instead, as the graph shows, the price has increased, following the trail of Bitcoin and then slowing down following its decline, basically there are no been negative effects. It will be interesting to understand how it will evolve over time.
We are all waiting to have more information on Leofinance Microblogging and to know the details on the interaction and reward methodology. Can the free tips system be a unifying factor? But how long would it be sustainable? Not much is missing now and we are all very curious and excited to know Project Blank!
