16 May, 2020
Earn Cryptocurrency by Utilizing the Hive Block Chain to Earn Consumer Rewards
If you do a search for earning cryptocurrency with any search engine you are likely to get a lot of very detailed post written toward the users that are already familiar with cryptocurrencies. If you are one of them, then this post is way way below your pay grade. This is post is for the first time what is cryptocurrency people.
I am very new to the crypto scene. I have not purchased any cryptocurrency, I just have not bothered to learn how yet. What I can show you is a simple place to get started.
Utilizing the Hive Block Chain
The Hive Block Chain, is not an easy thing to describe, a search for hive.io and you will get this in the description "Hive is a DPoS powered blockchain & cryptocurrency. Fast. Scalable. Powerful. Hive has a thriving ecosystem of dapps, communities & individuals."
Not very impressive to a first time, what is crypto and what is hive searcher. Hive Block chain is a "Social Media" system, similar to Youtube, facebook, and reddit, all rolled into one simple location.
Video
Two applications that are taking full advantage of using and growing on the Hive Block Chain are:
- DTube
- DTube is a community powered video sharing platform where users vote on videos to reward creators, curators, influencers and viewers in cryptocurrency.
- 3Speak
- 3Speak is a place where content creators directly own their onsite assets and their communities. Using blockchain technology, the ownership of these assets and communities are intrinsic to the creator and the user, not 3 Speak. They are therefore transferable to other apps that use blockchain technology. This means that if we do not serve the community and creators in the best possible way, they can take the assets they have generated and move them to another app. The result is that 3Speak is censorship resistant, cannot take your assets away or delete your communities.
If you are growing tired of your favorite online videos being removed for this violation or that violation, or because someone was offended by this or that in a video these two video portals are for you.
Social Media
There are several applications that allow you to become fully integrated into the hive block chain and to begin rewarding your favorite content producers whether they are photographers, video stars/producers, or just an everyday person who has something to say. These are two of the most popular:
Hive.io The initial front end for interacting with the Hive Block Chain. From their about page:
Hive is an open-source blockchain, forged in years of development to bring Web 3.0 to the world. With a diverse community of stakeholders and without controlling bad actors, individuals can experience true ownership in a decentralised blockchain & cryptocurrency.
PeakD One of the fastest growing interfaces for interacting on the hive block chain. From their about page and mission statement:
We want to be an entry point to the decentralized world of blockchain and integrate all the amazing features blockchain has to offer in an easy intuitive fashion.
We will do this by intuitive design, features specifically designed for content creators and a respect for the ideals of decentralization.
There are other applications to interface with the Hive Block chain to choose from, and the number of applications continue to grow. Hive truly is a thriving community.
Consumer Rewards
The reason you are here. How do I earn rewards as a consumer? This is quite possibly the simplest and most confusing aspect of consumer rewards.You Earn rewards by voting for things you like. The amount of reward earned is based on how much Hive Power, (HP), you have. When you first join you will be limited by the amount of HP you have. People that are already familiar with the buying and selling of crypto currencies will have no problems in this arena, you on the other hand like myself will have a little bit of a learning curve.
Depending on the method of joining hive you will most likely have a limited amount of HP. 15 HP is the general starting amount that is loaned to you to start. This allows a post, a couple of comments and about 20 votes.
There are groups and individuals that will loan you some HP to help you get going if you ask. As time passes and your account grows so will the amount of the rewards you are able to receive for simply liking someone else's work.
As an example I started out on the steem block chain. I started with 15 Steem Power. a little under two and a half years later I had 3000 SP.
Over the last 30 days for consumer rewards I have earned about 28 HP. That is just the earnings from voting on post and on comments that I found to be interesting. I am not a professional blogger by any stretch of the imagination, but author rewards I earned over the last 30 days was 56 HP.
A reward is nothing if you can not use it, but by holding and powering up that initial first year of interactions you could set yourself up to where you can start taking some of the rewards out and converting them in to regular money to spend.
Now you are likely wondering, "well how much does that really translate to"? Not much really, about a dollar a day at current conversion rates. That, however is a dollar a day more than I ever received from any other social media site for just voting, liking and commenting on someone else's work. As time goes by my account will continue to grow Hive Power Wise, that does not mean it will grow financial wise with converting to regular money.
Conclussion
You may or may not get rich, as more and more people join Hive Block Chain there will be more and more content to consume and enjoy, and possible get rewarded for doing so. Not many places can say that.To see other post in this topic visit this post Contest: 51,000 Hive Power delegations for one month, on the Hive Block Chain. In the comments you will find several other post related to earning cryptocurrency and more information about Hive Block Chain.
This post was written to not only participate in the contest, but try and introduce new users who have never heard of block chains to the Hive Block Chain.
If your appetite has been whetted then follow this link to sign up and give it whirl:
Not got an account yet? Sign up to Hive!
Very nice. I literally was just trying to explain to someone what Hive was. Then I remembered I had your blog open and I saw this post. Perfect. You've created a pretty useful tool. Thank you :)
Thank you for that. I really don't know very much about crypto, but one of the best ways for me to learn is to try and pass on what I have learned to reinforce it in my own mind.
I understand. I'm in the same boat. It's the whole car analogy. I can drive a car, both automatic or manual. I have a decent understanding of pricing, and relatively know how to get one at a good price.
In terms of the science within the engine. I have no clue. The most I can do with a car is change a tire, and maybe the oil. Lol. I don't need to know the entire science behind it. I just need to know enough to get the most out it, and occasionally explain what I need fixed without being robbed. :)
Thank you :)
A humble and grounding approach to earning on Hive. It's not easy to collect 'free money' each day, but with effort/investment, these amounts can grow.
Great stuff, may the Google gods shine down :)
It would be nice, maybe get a few more consumers, people looking for entertainment, and a place to speak their minds.
Great job on your contest entry! I see you used a H1 🧐, you must have read the SEO blog like I did.
You should check out my contest entry, it’s my latest post on my blog. Pinned on PeakD.
thanks on the way.