The profitability and effort put into different ways of earning bitcoin

NotATether

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Quote from: hatshepsut93 on February 04, 2020, 02:57:11 PM

Quote from: NotATether on February 04, 2020, 01:59:36 PM

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You seem to be quite knowledgeable about gambling and its math, so why did you put gambling as an earning method in the first place? You know that you can't profit from it, that it's a money spending method, right?

It's because I didn't make the picture you saw in the topic, 99bitcoins did and I found most of the diagram accurate except for the gambling, HYIP and lending circles in the picture. The author of the article probably didn't know what I quoted above.

Quote from: NotATether on January 29, 2020, 01:52:57 AM

I found a chart on the internet made by 99bitcoins

I think that "low effort high profitability" methods do not actually return a profit but the others are relatively correct. And what kind of person would think that lending is highly profitable? Huh

EDIT: Added this to say, maybe the article author desperately wanted to shove all the bitcoin methods in four quadrants.

hatshepsut93

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Quote from: Sanugarid on February 04, 2020, 01:15:27 PM

In terms of gambling, it is actually 50/50 situation of probability, it is either you will win or lose except if you are really good at it so you can play even the bets are high without having any fear. Maybe signature campaign is not really a passive one if you do really want what you are doing with it, then continue even if the market experienced a downfall.

It's a pretty common fallacy in probability analysis to think that all outcomes are equally possible hence the probability is 1/n where n is the number of probabilities. The truth about gambling that many people are unfamiliar with is that in gambling you simply have less chances to win than the casino - and this isn't some conspiracy, it's a public knowledge.

Quote from: NotATether on February 04, 2020, 01:59:36 PM

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You seem to be quite knowledgeable about gambling and its math, so why did you put gambling as an earning method in the first place? You know that you can't profit from it, that it's a money spending method, right?

NotATether

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Quote from: Sanugarid on February 04, 2020, 01:15:27 PM

In terms of gambling, it is actually 50/50 situation of probability, it is either you will win or lose except if you are really good at it so you can play even the bets are high without having any fear. Maybe signature campaign is not really a passive one if you do really want what you are doing with it, then continue even if the market experienced a downfall.

This isn't correct. Many casino games have a house edge percent which means that the house actually has 50 + house edge percent change of winning, while you only have 50 - house edge percent chance. I have seen this problem in the bitcoin whitepaper referred to as Gambler's Ruin, although it's used there in the context of blocks, not real gambling that we're talking about here.

If your wager is always the same amount then this is the probability you will catch up to your target profit, assuming that you can theoretically reach the target with q_z winning wagers:

Where q is your probability of winning and p is the house's probability of wining and z is the number of bets you make. As you can see, for any positive house edge (and all casino games have positive edges), you are less likely to reach your target because q/p is less than 1, and the power of ever increasing z shifts your probability towards 0. And higher house edge games like Slots will get you rekt faster since in this model, the jackpots don't matter,

So unless you make an early large winning bet (and if you do this you can only realistically expect to double or quadruple your balance) it is not possible to reach a higher target.

Sanugarid

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Quote from: ?? on ??

We all know that it's hard to make a profit without a lot of effort. As we know, getting Bitcoin is difficult. Especially if we rely on the Faucet and Signature campaign, which sometimes results are uncertain. However, we can do both without capital and without risk. Therefore, use your method according to your pasion. Because, effort will not betray the results.

The eagerness to earn is important for you to achieve your goal of making money with bitcoin. But for me, relying on joining the signature campaign is such a risk too because your eagerness includes when you are working with them but what if that particular campaign you have joined has failed? You should still have a passion to do it because you want it, to earn bitcoin.

Quote from: princesspoppy on February 04, 2020, 12:24:44 PM

Gambling is really a high profitable way to make money and also really very risky. As much as possible, we should not involve ourselves to it because it is also addicting once we start winning and making money from it.

When it comes to signature campaign, yes it is not a regular source of income unlike regular jobs we have but instead, it can be consider as a way to earn EXTRA income. And yes, people need to exert greater effort in doing signature campaign or else they'll end up spamming and sh*tposting just to reach the quota for every week's work. We can say that the money we earn from signature campaign are less than the effort we exert and the time we spent from doing it but still, not a bad idea to earn extra money especially for students and for those people who likes spending time in the internet.

In terms of gambling, it is actually 50/50 situation of probability, it is either you will win or lose except if you are really good at it so you can play even the bets are high without having any fear. Maybe signature campaign is not really a passive one if you do really want what you are doing with it, then continue even if the market experienced a downfall.

princesspoppy

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Gambling is really a high profitable way to make money and also really very risky. As much as possible, we should not involve ourselves to it because it is also addicting once we start winning and making money from it.

When it comes to signature campaign, yes it is not a regular source of income unlike regular jobs we have but instead, it can be consider as a way to earn EXTRA income. And yes, people need to exert greater effort in doing signature campaign or else they'll end up spamming and sh*tposting just to reach the quota for every week's work. We can say that the money we earn from signature campaign are less than the effort we exert and the time we spent from doing it but still, not a bad idea to earn extra money especially for students and for those people who likes spending time in the internet.

hatshepsut93

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Quote from: davinchi on February 04, 2020, 10:27:06 AM

Any individual who joins into the decentralized field has a hell lot of variety in front of him in order to start a stream of income. The above charts mentioned by OP might make it a bit easier for such people to understand and find their perfect job role into the blockchain networks. I would prefer newbies to join the roles which are less riskier no matter if the profits there are moderate too.

That's really not true, there's not much opportunities in crypto and the competition is huge these days - new signature campaigns pay only a couple of bucks per week, tons of news sites and blogs compete with each other, there's very little freelance work offers, mining has low margins. Early days were the golden era of earning, you could get hundreds of dollars from bounties or mine coins with CPU or single GPU for decent profit, and entrepreneurs had higher degree of success.

Nowadays, it's better to focus on real life jobs and use earnings to buy crypto, instead of trying to earn crypto directly.

julius caesar

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Signature campaign is not a part of a full time source of income. We all know that signature campaign is not always present in terms of income. Unlike trading and investing that would really help us to gain a good amount of money only if we know how to do it. For us to be able to gain using this type of method, we should really understand trading and put some effort to learn into it because that will be our main source of income.

redsun114

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Quote from: chennappa121 on February 03, 2020, 08:49:43 PM

Blogging is a good way of earning but even the blogger should be be very good for at blogging it is not that easy to blog you should be a very decent writer and people should easily understand and have enough knowledge about blogging.

If you are a decent and knowledgeable blogger then you can make a huge profit with it.

There are millions of people who have the will to start blogging. Tens of thousands or maybe lacks of people might take a step forward to launch their own blog. Thousands from those succeed and left are rest with no pay for their efforts.

What I want to say from this is that there already is huge competition in the markets and by any chance if you want to survive in these highly competitive markets than you need to be most talented or at least you need to have the skills to grow your blog/business from scrap.

Blogging would never be an easy task as it was few years ago only because a number of people have turned themselves in with blogging. Blogging can really serve us with a passive source if income and hence it is what we prefer newbies to start with but never forget that you would need a hell lot of knowledge and techniques to start getting traffic onto your blogs.

Coyster

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Quote from: libert19 on February 03, 2020, 11:42:55 PM

Blogging takes way more effort than a signature campaign, you need to constantly come up with a new content, while for sign campaigns you can give your thoughts on other people's topics. Much easier in my opinion.

Blogging and signature campaigns are both good ways of earning, for me there is no one that is far so much better than the other, not everyone can run a blog, search for information and post and update quality contents consistently.

Signature campaigns is easier for some people to do, I don't mean the spammers who just write useless contents. Some people have become accustomed with the forum that it's no longer an issue for them to make posts, for this category of people, they'll choose signature campaigns ahead of blogging. Forget about the earnings or the proceeds that can be earned, it's up to people to choose which would be good, easier for them and that which they will not have problems doing well.

XCANA

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Quote from: ?? on ??

We all know that it's hard to make a profit without a lot of effort. As we know, getting Bitcoin is difficult. Especially if we rely on the Faucet and Signature campaign, which sometimes results are uncertain. However, we can do both without capital and without risk. Therefore, use your method according to your pasion. Because, effort will not betray the results.

Yes, more reason why we should be frank about things. Most of these you have just spent out are true, no risk involve and all is knowledge gaining after all. Before I came into the world of cryptocurrency, I used to thought that; this technology will be difficult but the reverse was the whole case back in 2017. At least till today, am still enjoying the knowledge gained and still gaining for free. We shouldn't see everything as an avenue to get money quick.

davinchi

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Quote from: CaVO32 on February 03, 2020, 08:59:53 PM

Quote from: gundala on February 01, 2020, 06:55:34 PM

This view is very objective, and depends on the opinion of each person who has a different passion. It's just that, in general from the quadrant we can draw one big conclusion: high profitability is always accompanied by high risk and high effort. Everyone also has their own tendencies, there are those who are interested and very good at trading, so that makes it the main way, there are those who like to write and master all the techniques needed to support their writing to produce results, some are more interested in signature campaigns for the reason each. Each of these options also has their own size, it can't be said the signature is more profitable, or trading is more profitable, etc ... this really really depends on the circumstances of each.

i agree with this opinion. every person who are into crypto have different forte. some are into trading, while others are into writing. whatever they will choose to venture with, it is their own decision. so looking at the diagram, they should know already what kind of risk they will be encountering with. and you can't quantify their profitability beforehand, it will be afterwards, so the decision is really yours. it is better to go in the field where you are good at and know what's going on.

Any individual who joins into the decentralized field has a hell lot of variety in front of him in order to start a stream of income. The above charts mentioned by OP might make it a bit easier for such people to understand and find their perfect job role into the blockchain networks. I would prefer newbies to join the roles which are less riskier no matter if the profits there are moderate too.

Going for a riskier job might even sometimes leave you without pay and you need to have a strong financial life in order to overcome such loss or else you would need to face rough times if you are completely dependent on the job and if the job didn't pay you.

worle1bm

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Quote from: NotATether on January 29, 2020, 01:52:57 AM

Nice explanation. I am reading Ofir Beigel's blog from 2015 and this is another great post from 99bitcoins team. However, I feel this post is fading an important goal bitcoin is trying to achieve and that is the use of bitcoin as mere means of payment. This post considering bitcoin as something unique which could only be earned through special ways like starting a faucet, signature campaign, mining or gambling. But that's not true. Bitcoin should be consider at par with normal money. I can earn bitcoins through my skills and work too. If I am top-notch developer, I can charge my fees in bitcoins. In that way, earnings would be highly profitable as well as lower risk.

This post is delusional for newbies who may get an idea that it is not possible to earn bitcoins other than these methods.

libert19

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Quote from: NotATether on January 29, 2020, 01:52:57 AM

As you can see, signature campaigns will not earn you a lot of money, so for example if you earn $2 a day like cryptotalk pays then you will end up with $60 per month and $720 per year which is easily blown on rent. I'm surprised more earners here aren't blogging since that generally has higher rates of return than a sig campaign and is also slightly easier to do.

Blogging takes way more effort than a signature campaign, you need to constantly come up with a new content, while for sign campaigns you can give your thoughts on other people's topics. Much easier in my opinion.

CaVO32

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Quote from: gundala on February 01, 2020, 06:55:34 PM

This view is very objective, and depends on the opinion of each person who has a different passion. It's just that, in general from the quadrant we can draw one big conclusion: high profitability is always accompanied by high risk and high effort. Everyone also has their own tendencies, there are those who are interested and very good at trading, so that makes it the main way, there are those who like to write and master all the techniques needed to support their writing to produce results, some are more interested in signature campaigns for the reason each. Each of these options also has their own size, it can't be said the signature is more profitable, or trading is more profitable, etc ... this really really depends on the circumstances of each.

i agree with this opinion. every person who are into crypto have different forte. some are into trading, while others are into writing. whatever they will choose to venture with, it is their own decision. so looking at the diagram, they should know already what kind of risk they will be encountering with. and you can't quantify their profitability beforehand, it will be afterwards, so the decision is really yours. it is better to go in the field where you are good at and know what's going on.

chennappa121

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Blogging is a good way of earning but even the blogger should be be very good for at blogging it is not that easy to blog you should be a very decent writer and people should easily understand and have enough knowledge about blogging.

If you are a decent and knowledgeable blogger then you can make a huge profit with it.

Yamifoud

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Quote from: XCANA on February 03, 2020, 03:03:09 PM

Those who have been into blogging has some good Patience, they wait for some good time before the blogging could yield profitable benefits. Have been a blogger but quit because I wasn't getting what I needed from my job done, blogging need more skills to survive in the business.

That is why it considered being at high risk knowing the fact that it wasn't an easy job and definitely not it works instantly. Some bloggers succeed but some also don't. And appreciate that people looking for a different way just to earn more satoshi.

Quote from: XCANA on February 03, 2020, 03:03:09 PM

Signature campaign was good when the market was in good condition back in 2017. Still remember many campaigns that I participated which amount to thrice of my salary, but nothing of such this days because of the condition of the entire cryptocurrency market. We hope to see another good days like the old times.

Indeed, many participants had a great time participating with this and receiving a few sats by then. Though it wasn't considered as high profitability but I don't also bring in regrets cause it helps me/us already a lot.

LUCKMCFLY

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You cannot take signature campaigns as the safest money entry, but it is a sure way to add satoshis or dollars by participating in signature campaigns.

The trade is more risky, but if everything goes well, you get good benefits, when you talk about blogging it is an option, when you want to earn money you can work as a freelancer, there is a greater chance of winning. I am not a supporter of the Hyips, I prefer to bet on a good casino platform. I like the 99Bitcoin chart, it exemplifies it in a chart respecting the priorities that exist as the risks correspond.

XCANA

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Those who have been into blogging has some good Patience, they wait for some good time before the blogging could yield profitable benefits. Have been a blogger but quit because I wasn't getting what I needed from my job done, blogging need more skills to survive in the business.

Signature campaign was good when the market was in good condition back in 2017. Still remember many campaigns that I participated which amount to thrice of my salary, but nothing of such this days because of the condition of the entire cryptocurrency market. We hope to see another good days like the old times.

tbterryboy

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I don’t know about lending, but those other two – HYIPs and Gambling are very risky and I don’t even plan to be part of it. I know a lot of my friends that are into gambling, I am very sure that they are losing their money but they will never agree to that.

When I ask whether they are profiting, they would answer yes, but judging from how their life is, I don’t think they are making any money because they are always broke AF. They just end up becoming addicted to it and they never quit even when they are losing, they keep hoping that one day they will make huge winning and becoming rich and that’s when they will stop.

Bitcoinislife09

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Quote from: The Cryptovator on January 29, 2020, 02:42:16 AM

Quote from: NotATether on January 29, 2020, 01:52:57 AM

I'm surprised more earners here aren't blogging since that generally has higher rates of return than a sig campaign and is also slightly easier to do. And considering how many off-topic posts are removed here, even easier than a sig campaign on this site.

Signature campaign should not consider as a your main earning source. We don't know when a campaign would stop or run and only very limited peoples involved with signature campaign especially btc campaign. I believe most of forum users are not aware about blogging like me. I am not familiar with it and just first time heard its possible earning btc by writing blogs. I know only there is few campaign for blogs but it won't a huge amount like you mentioned on OP. I think most of forum users connected with gambling & trading although both are high risky but quite easy.

Agree, but I think as long as you could manage the posting in the forum and do a lot of constructive post in the forum it would be fine as a source of income, Having a deadline every week seems stressful and a lot of work but as long as you have a lot of free time I think you could easily manage the posting in the forum. And also you learn a lot of knowledge in bitcoin in posting here and helping others is also fun.

But as you say the signature campaign is not going to run forever you at least you should not rely on this as the main profit.

Topic: The profitability and effort put into different ways of earning bitcoin (Read 744 times)