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RE: "How To CASH OUT?!" - Ask Yourselves THIS Before Worrying About Cashing Out.

in LeoFinance3 years ago

I do get the idea of "testing how to cash out", not to actually do it for everything you earn as that's probably not smart long term but just to see how and if it works..

For sure someone thinking about investing money would want to know the money isn't wasted/locked up in some system that will do him no good. So in that regard helping people understand how-to could potentially build more trust and have people invest and hold more comfortably.

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That's a good point. Investors wouldn't put in a bunch of cash without knowing how to operate properly on Hive though. Especially not big investors.

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True, the big investors will make sure to figure out what they're getting into. But was thinking of the individuals who are maybe skeptical of the whole thing, free-money-for-blogging is something not quite understood by many.

It's frowned upon I guess, like what's the catch? At least that's my experience when trying to explain it to outsiders. In that regard explaining the whole thing including how to take a bit of fund out might win some trust and shows the legitimacy of it all.

Before I ended up here I visited something called a beer-money-forum which covered various side hustles to make some extra income. With anything online the number 1 thing everyone there was questioning: do you have proof of payment? That's just the main thing for many to even consider something legitimate and thus worth their time.

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It's frowned upon I guess, like what's the catch?

I think this has been a major problem for years.. And I think it's an issue due to how people are pitching Hive. I mean, this is not a place for free money. It's a place for people to earn something for their contributions, and the earnings are in crypto.

I think we have to tell people in steps:

  1. You have a chance of earning something from your content.
  2. You earn crypto which you can exchange to FIAT.
  3. You can cash out/withdraw the FIAT you have.

If people wonder why "someone wants to give them free crypto" after that, I think it's wise to tell them that we have a decentralized platform that distributes tokens etc.

I think we've been pitching Hive incorrect from the start by starting off with "we are decentralized, you own your content, come here and earn!"

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There's a lot to say for Hive, but yeah pitching the free or easy money idea is not really working, I try to explain the basics of crypto and what it means for ownership (compare Splinterlands with magic or pokemon cards for example) and what the blockchain means etc.

Also not trying to push anyone, I just tell some about it and let them ask questions or see if they're interested after that instead of shoving it in their face.


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