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Bitcoin => Bitcoin Discussion => Topic started by: NotATether on January 29, 2020, 06:52:57 AM



Title: The profitability and effort put into different ways of earning bitcoin
Post by: NotATether on January 29, 2020, 06:52:57 AM
I found a chart on the internet made by 99bitcoins that demonstrates how much money you can get from the different methods available to try to get bitcoin. The only one not listed is on-ramping your fiat into bitcoin which of course should be in the top-left quadrant because it is an easy way to get a lot of bitcoin, ignoring the difficulty of obtaining the fiat money in the first place. But I definitely assume you would get it from a 4- or 5- figure salary.

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. And considering how many off-topic posts are removed here, even easier than a sig campaign on this site.

https://i.postimg.cc/brPKTqQt/getbtc.png


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: 20kevin20 on January 29, 2020, 07:40:18 AM
I've had times when I've considered sig campaigns as a source of income and that is very wrong. After some time, you start sh*tposting just in order to get the max payout you can get instead of writing real posts.

It's easy to earn off sig campaigns if you don't care about the money and see it just like a reward for posting good stuff. Blogging is a job, sig campaigns are rewards from the community. Had to change my mentality to finally see it this way.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: The Cryptovator on January 29, 2020, 07:42:16 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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Ethereums on January 29, 2020, 08:08:16 AM
sig campaign earns naturally not high as trading but it's just like a chance if we want to take or not. As we try to earn some token which we believe will be good cos we analyst it before we join the campaign. Nowadays not many tokens as good as first ICO and now IEO taking its limelight. Even IEO could go wrong since many exchange appear and labelled as scammer. They just asking fee for listing and when they think its enough, they run with BTC which made many people get wary with IEO righ now.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: NotATether on January 29, 2020, 08:36:16 AM
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.

My gut feeling to how people would earn money from blogging is that they first grow their audience and then sign up with an ad network like AdSense, which would require that the website in question has somewhere around 5000 interested unique viewers per month. And to get that much viewership, you need to actually be knowledgeable in some profession or skill, not some ordinary person churning out things that you would see in social media posts.

AdSense pays to a bank account in dollars. There are BTC ad networks in the wild but I suspect professional bloggers would make less money using them because of the shady nature of the ads being ran there. MellowAds alone is largely just gambling/investing ads so if your viewers are not interested in gambling or investing then you don't have much of a choice for ad networks. The reason being is that hardly any normal service advertises itself on BTC ad networks due to uninterested viewers so this becomes a chicken-and-egg problem. A professional blogger with nothing to do with investing would never use a BTC ad network if the only ads his viewers would see (who in turn are not investors) are investment ads.



Trading is definitely not an easy thing to do but unfortunately it's being hyped everywhere as a quick way to earn big profits. When most newbies see claims like that they don't have ears for anything else and they try to guess when the daily highs and lows will be which ends up wrecking their balance. I believe part of the responsibility for loss of money like this lies with the people who promote such a method.

To become a proper trader or stock broker as opposed to some script-kiddy wannabe trader, you need to have a business administration, economics or financial university degree, complete an internship, find a sponsor so you can take a licensing exam and pass the licensing exam. How many "cryptocurrency traders" can complete all of that?



Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: mk4 on January 29, 2020, 08:53:26 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.

Unless you're actually really knowledgeable on blogs yourself, you're most definitely underestimating the difficulty of maintaining a blog. Not only that you'd have to be decent at writing, you'd also have to be heavily knowledgeable on the niche you're writing about. Just spamming your blog posts on forums and social media isn't the right way to go if you actually want it to be a sustainable source of income.

And wait, there's more! You'd also need to have decent knowledge on Search Engine Optimization(SEO) for your articles to actually gain traction. A lot of blogs out there don't even reach even 1 organic view(through search engine searches).

Lastly, blogging and affiliate programs can overlap.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: sayaya17 on January 29, 2020, 09:03:28 AM
Signature campaign is indeed a simple and easy way to get bitcoin, although now the signature signature campaign is sometimes not in line with expectations, different from 2017 to early 2018. When there is a signature campaign vacancy, why don't we try it, like the signature campaign I used, it pays well.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Lakai01 on January 29, 2020, 10:00:54 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.

Unless you're actually really knowledgeable on blogs yourself, you're most definitely underestimating the difficulty of maintaining a blog.
-snip-
I second this based on the experiences I ve made with my blog. It is very difficult to gain noticeable attraction from real (there are lots of visitoing bots out there), non-paid viewers and foremost: keep them coming back at a regular basis.

Additionally, you usually have to invest money into marketing if you want to run a blog of a size that is interesting for campaigns to pay you a decent amount of money to write an article about their project. They often have very high requirements like 10k followers or 5k unique views which are definitly not that easy to accomplish. So no, I wouldnt say blogging is "high profability" for the majority of us.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Tipstar on January 29, 2020, 10:10:05 AM
Lending/Saving could be a less risky way of earning bitcoins. There are many secured saving accounts like Celsius where you earn bitcoin for storing. Other exchanges like Bittrex and Binance also provides some interest on bitcoin.
P2P lending with collateral would also have a maximum chance of getting back your bitcoin with profit otherwise, you can liquidate the collateral which sometimes would yield more bitcoins than what you owe.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: NotATether on January 29, 2020, 10:22:20 AM
Unless you're actually really knowledgeable on blogs yourself, you're most definitely underestimating the difficulty of maintaining a blog. Not only that you'd have to be decent at writing, you'd also have to be heavily knowledgeable on the niche you're writing about. Just spamming your blog posts on forums and social media isn't the right way to go if you actually want it to be a sustainable source of income.

And wait, there's more! You'd also need to have decent knowledge on Search Engine Optimization(SEO) for your articles to actually gain traction. A lot of blogs out there don't even reach even 1 organic view(through search engine searches).

Lastly, blogging and affiliate programs can overlap.

Yeah I guess I took the chart too seriously. I actually do have my own blog (about programming) on a website blogging platform and I can testify to how difficult it is to retain viewership. A few weeks ago I had thousands of viewers for one article I wrote, only for most of them to go away when I made more articles. This caused the page to plummet in Google search results.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Sadlife on January 29, 2020, 11:29:00 AM
Well signature campaign does pay a low amount, but that depends on the country you're in for example like me who is in a third world country. $60 is equivalent to 2000 here, so living in a third world is actually beneficial and the reason people dont do blogging is because it takes a lot of effort and time.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Zicadis on January 29, 2020, 11:34:19 AM
I found a chart on the internet made by 99bitcoins that demonstrates how much money you can get from the different methods available to try to get bitcoin. The only one not listed is on-ramping your fiat into bitcoin which of course should be in the top-left quadrant because it is an easy way to get a lot of bitcoin, ignoring the difficulty of obtaining the fiat money in the first place. But I definitely assume you would get it from a 4- or 5- figure salary.

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. And considering how many off-topic posts are removed here, even easier than a sig campaign on this site.

https://i.postimg.cc/brPKTqQt/getbtc.png

Can you post a link to the original article? I'd like to read further into it.

For example, I can't see how mining can be considered high effort and high reward. Most small cryptocurrency miners are unprofitable, while setting up the hardware is usually a one and done deal.

If you could PM me when you drop the link I'll merit the post.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Lucius on January 29, 2020, 11:41:05 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 xxxxxx 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.

We cannot put all signatures campaign in the same basket, and it is especially silly to mention some that are not in this forum. Good members on this forum can find good sig campaigns that pay a lot more then $2 per day and even $60 per month is more than average salary for the whole month in some countries. To have a successful blog is not something anyone can do, rare are those who manage to combine quality, knowledge and technical skills to profit from it.

I see you posted your blog experience, so don't be surprised that most people always choose the easy way, which is a normal occurrence.

For all signature campaigns visit this link : Overview of Bitcointalk Signature-Ad Campaigns (https://bitcointalk.org/index.php?topic=615953.msg53710206#msg53710206)


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: DdmrDdmr on January 29, 2020, 11:55:51 AM
The red High Risk means are set in the mid-to-upper profit quadrants, and although the risk is implicit, the fact is that, on a case by case basis, they could easily turn out to be on the Low Profitability quadrants. I figure the chart should be interpreted as some sort of potential best case scenario, where skills and luck play their role.

Seeing HYIPs (High Yield Investment Programs) there is a bit of a shocker, as they are very often Ponzi schemes where some may profit at the loss of the majority.

The complete base article: https://99bitcoins.com/earn-bitcoins/

Note: funny to see Mickey Mouse (top left quadrant) there as a High Profitability, Low Effort, High Risk triad of means ...


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: kaya11 on January 29, 2020, 12:50:07 PM
It's sad to say that even the higher risk with high profitability is not an option for those who do not have money to invest in to, so they would rather do the low risk ones like signature campaign. I guess this is not new and I am one of those people who strive to earn as much as possible without breaking the rules. I could safely say though that we have tried the higher risk but failed and just manage to do the safest method to earn Bitcoin up to this moment.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: buwaytress on January 29, 2020, 01:47:43 PM
Which year was this made in? It must have during a time when faucet owners weren't banned by Google ads yet, cause there's almost no way you can make money from a faucet site now when ad revenues for crypto is basically nada.

Also, HYIP? It's not just high risk, it's very low profitability (unless they meant actually owning or running them). The only hyip guys making money are the ones earning from referring. You might as well replace HYIP with gambling. But that's not specific to bitcoin at all.

And lending for high profitability? I did earn a bit from loan facilities back when they were in demand at Polo, but even the best DeFi lending platforms today offer interest I'd consider low profitability at disproportionate risk.



Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Asmonist on January 29, 2020, 01:48:13 PM
I admit I devote my time to signature campaigns. Its true to earn a little from it. However, I guess I'm still keep doing it since I have limited time as well. The chart really opens up my mind of the other activities to earn. It just need more time to make things done. And on my part now that I'm also doing my usual job, its really quite impossible to maintain or do the tasks in other activities. Sig campaign for me is a suitable bitcoin earning activity with low risk.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: BrewMaster on January 29, 2020, 02:02:01 PM
i disagree with most of the things in that chart!
for starters HYIP, gambling and a lot of things that are categorized as "micro earning" such as faucets are not ways to earn bitcoin at all.
HYIP is an obvious scam that you only lose money in so it can't even be in this category.
gambling is also not a way to "earn" money but it is instead a way to "spend" money.

as for effort:
mining doesn't have "high" effort. you just invest and maintain the equipment, there is no much else to do. the equipment (ASIC or gpu rigs for altcoin mining then dumping for bitcoin) does it automatically.

owning a faucet is also definitely not "high" profitable at all. and it is medium effort at best.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: stompix on January 29, 2020, 02:04:26 PM
The moment you put HYIPs and Gambling on the same risk factor as Lending and Mining is the moment you lose all credibility.

Reading further in the article I'm stumbling across things like this:

Quote
Income Low
From my calculations, if you work non stop at clicking buttons you’ll average anywhere between 5-40 cents an hour. Not sure that’s worth your time or even the electricity for running your computer.

That's not low income, it's a loss!!!!

Going down to mining, I find another gem!

Quote
The fact is, that today Bitcoin mining has become more of a profession than a hobby. It requires extremely expensive mining equipment, high electricity costs, hardware configuration knowledge and physical space to actually store your miners.

Oh dear, I never thought that bitcoin mining requires HIGH electricity costs!

13. Claiming Bitcoin forks and airdrops
Risk high!

Who wrote this, a 9yo ?

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.

Yeah, I'm surprised too not everyone has a blog, this way we could all earn...Oh, there is a catch of course!
Otherwise, we would have 5000 NBA leagues and we would be all playing and we would be all earning millions and we could all be both owners, coaches and the entire team.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: hatshepsut93 on January 29, 2020, 04:11:31 PM
The moment you put HYIPs and Gambling

Should have ended here. If a person things that activities with negative expected value can be considered a source of income, their opinion can be safely discarded, as it clearly demonstrates that they have no clue of what they are talking about.

OP's post is a good example for showing that newbies shouldn't trust everything what they read, even if the author sounds like they know things, there's plenty of bad advice around.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Darker45 on January 29, 2020, 04:13:15 PM
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.

On the contrary, it is easy to notice that almost every account on this forum is wearing a signature and those signatures are mostly paid.

Quote
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.

Blog campaigns have been here since forever, although they are more focused on altcoin campaigns. I cannot remember a particular project which pays in Bitcoin for blog contents. But on altcoin projects, almost every single bounty includes blog campaign. If I am not mistaken, the reward that goes out to blog participants is oftentimes bigger because only few of them are sharing it unlike in signature and social media campaigns.

Quote
I think most of forum users connected with gambling & trading although both are high risky but quite easy.

Most of the forum users are most probably connected with altcoin campaigns. This is because there are much more available slots there as compared to BTC-paying campaigns which are mostly requiring gambling posts. Gambling is easy but winning is hard. Trading is definitely not easy.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Mike Mayor on January 29, 2020, 05:06:24 PM
I like and have respect for 99bitcoins as they have been around for a long time and have a very helpful page. however that entire graph is bullshit. Gambling is not a form of income and never will be. Gambling is a game in which you lose the house edge on every single bet. HYIP High profitability? Umm no... Besides the fact it is immoral and stupid, you will lose your money.

You can't actually say what is more profitable since people are different. A blog might be good for one person but not for another. What a stupid chart.

You say blogging can make more than signature so quickly? So you just open a blog and the money magically comes in does it? Ok then tell use how to make a magical blog that makes profit from day one?


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: kryptqnick on January 29, 2020, 06:16:21 PM
I found a chart on the internet made by 99bitcoins that demonstrates how much money you can get from the different methods available to try to get bitcoin. The only one not listed is on-ramping your fiat into bitcoin which of course should be in the top-left quadrant because it is an easy way to get a lot of bitcoin, ignoring the difficulty of obtaining the fiat money in the first place. But I definitely assume you would get it from a 4- or 5- figure salary.

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. And considering how many off-topic posts are removed here, even easier than a sig campaign on this site.

https://i.postimg.cc/brPKTqQt/getbtc.png
That's an informative chart, thank you! I think it is more or less correct, but perhaps the gradation between the activities could be improved. For instance, while some people might gamble with low effort, others might spend lots of time practicing, watching poker tournaments or reading about football teams (if you think betting on sports is also gambling). And the profitability is potentially high but it can also be very low or even negative if a person keeps losing money (I guess the 'high risk' thing covers that, though). As for blogging, I don't think it's easy to find someone willing to pay for average blogs, whereas new signature campaigns with different rates and standards come and go all the time, so this might be why many people stick to them. What kind of blogging with high rates do you mean? Could you give specific examples of a platform that stimulates it or of companies that look for people like that? I know a guy who might be very interested, but neither he nor I know of such things, to be honest.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: The Sceptical Chymist on January 29, 2020, 06:22:25 PM
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.
I think most sig campaigners don't really have a lot to say about crypto, and I'm not sure how profitable blogging would be for the average person just trying to earn crypto--especially if they don't have any writing talent, which also seems to be the case with sig campaigners.  Just take a look at what those idiots are writing over at cryptotalk.org.  It's all spam and plagiarism, and that's why so many of them get booted from campaigns on this forum.

This is an interesting infographic, OP.  But HYIPs are shown as being highly profitable, and I'm not sure that's the case.  My impression has always been that those are Ponzi schemes in which most participants lose all their money.  I also think that term "HYIP" is only used on bitcointalk, because I've never seen it used elsewhere.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: barbara44 on January 30, 2020, 04:02:35 AM
Blogging is a good source of income in cryptocurrency, but most people are not interested in it because it’s not easy.
You can already see it at the upper right quadrant, signifying there’s need to put in higher effort than you will do in signature campaigns.

You will have to worry about writing good articles and after that you are left with worrying about getting audience, and not just audience but the ones that will come to stay. It’s not an easy thing to do, so that’s why people are not interested in it. Most big blogs don’t write contents for themselves, they pay writers to do it for them. As a start-up you might not be able to afford paying writers to write for you since you’re not even gaining anything yet.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Zicadis on January 30, 2020, 11:26:45 AM
The red High Risk means are set in the mid-to-upper profit quadrants, and although the risk is implicit, the fact is that, on a case by case basis, they could easily turn out to be on the Low Profitability quadrants. I figure the chart should be interpreted as some sort of potential best case scenario, where skills and luck play their role.

Seeing HYIPs (High Yield Investment Programs) there is a bit of a shocker, as they are very often Ponzi schemes where some may profit at the loss of the majority.

The complete base article: https://99bitcoins.com/earn-bitcoins/

Note: funny to see Mickey Mouse (top left quadrant) there as a High Profitability, Low Effort, High Risk triad of means ...


Thanks for finding the source, upon reading the article I find that the author is just throwing together whatever he can.

He hasn't actually done in-depth research into how each industry works, and hence can't accurately gauge the effort and probability scales.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: sheenshane on January 30, 2020, 12:13:04 PM
It's really a simple one. The signature campaign is not for primary income. It's just an additional income so that when you post good stuff, you will be paid even if what you did was just to post something you are really interested in. Faucets and minings should not be in the list of the high risk and high profitability part, as well. Because honestly, minings and faucets don't really give great profitability compared back then when there's bull run. It seems like the chart is outdated.

I would rather join a signature campaign and do blogs than mining. The highest profitability you can get in cryptocurrency is in Trading, Business, and Gambling. But if you really wanted to earn big income in cryptocurrency, try to learn and master taxation. And Big shark bitcoin holders will find you.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: sheenshane on January 30, 2020, 12:54:35 PM
snip-
For now, my signature campaign is only the main income (for payments using Bitcoin), because doing this is a sure thing to produce. Compared to having to do the Faucet or create a blog.
Signature campaign earning probably can't sustain your daily needs, I will advise to have a decent job and let the signature campaign be your extra earning while having a job. (Unless, if you do an account farm, but this is not advisable) All I mentioned above is not worth it to have a profit if you have a family to feed. Aside from that, cryptocurrency is very volatile and very risky if you are short term holder. So, it has made a sense to find a job first and then invest bitcoin when you have your salary.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: FlightyPouch on January 30, 2020, 01:04:11 PM
Well, blogging is not that easy. I did try making a blog and I can't create one that easily. I know it is more profitable than sig. camps but not all of us here can create an interesting and good blog or even an article. Though if I will be given a chance to be paid to make one, I would try again, we don't know it might work.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: NotATether on January 30, 2020, 01:31:03 PM
Yeah, I'm surprised too not everyone has a blog, this way we could all earn...Oh, there is a catch of course!
Otherwise, we would have 5000 NBA leagues and we would be all playing and we would be all earning millions and we could all be both owners, coaches and the entire team.

You have a point  :P I was thinking that since information and tutorials about different areas of knowledge like technology and engineering is so readily available on the internet, most of the people spamming nonsense here could use their heads, stop what they're doing, actually learn the above things, and assuming they are willing to share it with others, make a blog about teaching what they've learned and do their best to keep the traffic and as a consequence revenue up.

Or failing that, they at least have enough skills to get a $5K/year remote work job considering that online courses go for $200 and they can at least claim they took that on their resume. Which is worth way more than ad revenue you would get from a blog.

What kind of blogging with high rates do you mean? Could you give specific examples of a platform that stimulates it or of companies that look for people like that? I know a guy who might be very interested, but neither he nor I know of such things, to be honest.

I'm guessing that professional bloggers make their money almost entirely from ad revenue (explains the Block-AdBlock notices everywhere). I myself don't make any money from my blogging cause my platform doesn't support it.

This is an interesting infographic, OP.  But HYIPs are shown as being highly profitable, and I'm not sure that's the case.  My impression has always been that those are Ponzi schemes in which most participants lose all their money.  I also think that term "HYIP" is only used on bitcointalk, because I've never seen it used elsewhere.

Thank you. I strongly disagree with the author of the website link about HYIPs being profitable because from my gut feeling, you have a greater chance of winning the lottery than making money off of a HYIP aka usually ponzi schemes because why would they want to give you back a huge amount of money that you sent? And if they are legit, they may have less funds than the amount you send in. At least lotteries don't try to cheat you from your prize.

Thanks for finding the source, upon reading the article I find that the author is just throwing together whatever he can.

He hasn't actually done in-depth research into how each industry works, and hence can't accurately gauge the effort and probability scales.

Already sent you a PM to the source because I didn't read this reply first (I saw DmdrDmdr's). Excuse the noise.

EDIT: Forgot to write this earlier, but it's sad that an early adopter of bitcoin is the one who wrote this article, if joining in 2013 can be called early. He is misinforming bitcoin newbies with his article.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Latviand on January 31, 2020, 11:47:01 AM
It's really a simple one. The signature campaign is not for primary income. It's just an additional income so that when you post good stuff, you will be paid even if what you did was just to post something you are really interested in. Faucets and minings should not be in the list of the high risk and high profitability part, as well. Because honestly, minings and faucets don't really give great profitability compared back then when there's bull run. It seems like the chart is outdated.

I would rather join a signature campaign and do blogs than mining. The highest profitability you can get in cryptocurrency is in Trading, Business, and Gambling. But if you really wanted to earn big income in cryptocurrency, try to learn and master taxation. And Big shark bitcoin holders will find you.

For now, my signature campaign is only the main income (for payments using Bitcoin), because doing this is a sure thing to produce. Compared to having to do the Faucet or create a blog.
I would also suggest trading your altcoin holdings(if there are any) because it would give you additional income. Signature campaign is the most common way to earn profit in this industry without the need to invest. But it is now hard to join such campaigns because of the requirements with regards to merit and such. Also, the rank in this forum limits the participants to do so, a bit unfair to those who has low forum ranks. Gambling is also another way but do take note of the risk.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: malekbaba on January 31, 2020, 08:19:26 PM
If you are good at anything, serve well and get payment in Bitcoin/other alts. If you are a writer, write blogs/articles about any specific coin and sale it, get reward for your effort from the project owner. Or anyone can start business and use crypto as main currency. like any e-store that sales products. Buyers will have to use crypto in order to buy from the site. This is not out of risk though as btc price fluctuates a lot. Signature campaign was a good source of income once, not anymore. Good projects are scanty and merit system in the forum makes it nearly impossible for the new member to earn from it. We , the old guys here, are lucky enough.
And Trading is always risky but sometimes it brings big profit. I prefer alt coin signature bounty. Not always rewarding but sometimes I get huge reward from it.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: passwordnow on January 31, 2020, 10:49:08 PM
Blogging is on the high profitability corner because it's for real but it's not that you can easily make money through making 1, 2 or 3 blogs. It takes time for your blog to be monetized unless you are writing for companies and you've been tied up with them with a certain contract for which you need to provide blogs or articles to them in scheduled manner. But making your own brand alone, this is going to be a difficult beginning although mostly it's really the hardest part of everything.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: LogitechMouse on February 01, 2020, 09:40:02 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.
I can share my little experience regarding signature campaigns.

I know that some here are saying that "Signature campaign must not be considered as a main source of income". To be honest I tried to experiment myself for a year. I didn't work for a year and I'm in my home only playing games and browsing the forum. Yes I'm not that techy compare to other people here but at that time, signature campaign is my main source of income. Did I survived? Yes and I also bought my own desktop last year too and I gave some money to my family. My earnings in my current signature campaign covered up all of my expenses (since I'm not that extravagant at all).

Or just I'm lucky compare to other people here who are joining signature campaigns (Bitcoin-paid) because I have been accepted to a signature campaign who has a high rates and running for a long time already. Yes you can consider that since I have a bit of luck at the time when I applied for them but the bottom line here is "You can consider signature campaign as a main source of income". It is just a matter of:
-does your monthly earnings in the campaign can cover all of your expenses in one month.
-do you have luck :D (kidding).

P.S. Right now, I have a work IRL while browsing here. New year = new life is my motto right now so I need to add additional sources of income :D.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: NotATether on February 01, 2020, 12:34:20 PM
I would also suggest trading your altcoin holdings(if there are any) because it would give you additional income. Signature campaign is the most common way to earn profit in this industry without the need to invest. But it is now hard to join such campaigns because of the requirements with regards to merit and such. Also, the rank in this forum limits the participants to do so, a bit unfair to those who has low forum ranks. Gambling is also another way but do take note of the risk.

I wouldn't live off of earnings I get from signature campaigns even if I held a Legendary account. The truth is that fast food workers and cashiers make more money per day on average than the highest paying signature campaigns here. Yes there are some campaigns that do pay more than $8 per hour which assuming 8 hour workdays becomes $64 per day, but do you see Legendary accounts spamming posts here?

I am biased to dealing with dollars when talking about any conversion between bitcoin and fiat money because I wound never withdraw to a foreign currency, and the person above me did manage to make a living off of signature campaigns, but when you consider that millions of people stuck with these jobs need lots of insurance and federal programs just to cover basic outstanding expenses, the things you can spend with your sig campaign money become limited.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: davinchi on February 01, 2020, 05:54:22 PM
Blogging is on the high profitability corner because it's for real but it's not that you can easily make money through making 1, 2 or 3 blogs. It takes time for your blog to be monetized unless you are writing for companies and you've been tied up with them with a certain contract for which you need to provide blogs or articles to them in scheduled manner. But making your own brand alone, this is going to be a difficult beginning although mostly it's really the hardest part of everything.
Starting and launching our own blog isn't that challenging job as we can even find some blogs domains which we could acquire for free. We need to have immense knowledge about the articles we would be publishing on our blog as it needs to be attractive and should be something which matches the trend.

People should find benefits by going through your blog and once you succeed, you can have good benefits just by displaying ads onto your blogging platforms. Also you can get paid for publishing few articles onto your blog if you collaborate with any of the emerging industry. You can really earn a passive and active source of income from blogging.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: pixie85 on February 01, 2020, 08:16:06 PM
You're not taking an important factor into account which is the investment.
A signature campaign doesn't need any investment to begin! This means that it may earn you much more than trading if you're only trading with something like $500. Also it doesn't put your money at risk at all it's always pure profit. You're wrong in so many things in this diagram. HYIP is not high risk. Scams don't count!


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: gundala on February 01, 2020, 11:55:34 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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: wxxyrqa on February 02, 2020, 11:34:29 AM
You're not taking an important factor into account which is the investment.
A signature campaign doesn't need any investment to begin! This means that it may earn you much more than trading if you're only trading with something like $500. Also it doesn't put your money at risk at all it's always pure profit. You're wrong in so many things in this diagram. HYIP is not high risk. Scams don't count!
I believe that each participant in a company’s signature invests their time and labor, even if this is not the equivalent of money, then it still has a certain value.  And if you consider that most of the projects in recent years do not show good results, not to mention of course fraud, then this activity for the user brings minimal income.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: FanatMonet on February 02, 2020, 12:08:19 PM
Subscription campaigns are the tidbit of this cryptocake, but it’s not clear where you got the amount of $ 2 / day? It’s clear that the signature campaigns pays in different ways, from rank and other factors, but I think the amount of $ 2 is underestimated, in most campaigns it's $ 3-4.
For example, in mine, this figure now is $ 13 / day.
But it's very good campaing.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: pixie85 on February 02, 2020, 10:23:42 PM
I believe that each participant in a company’s signature invests their time and labor, even if this is not the equivalent of money, then it still has a certain value.  And if you consider that most of the projects in recent years do not show good results, not to mention of course fraud, then this activity for the user brings minimal income.

Writing for a campaign isn't a very labor intensive job ;) It takes time, but can be done while listening to music and drinking a beer. I wish other jobs were as relaxing.

Idon't know what you mean in the second part. I'm talking about signature campaigns not some ICO investments. If you write for a campaign it doesn't matter how the project does in future you'll still get paid daily or weekly for your effort.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: FaithInCrypto on February 02, 2020, 11:34:09 PM
I wonder if its really true that there's high profitability in HYIPs, Gambling, and Lending as on based on the experience they are only high risk. I've lost enough money while doing HYIPs! As for gambling, you win some, you lose some and I never tried this lending thing ever since, don't really know how does that work.

Is blogging really profitable until now? I tried blogging back then and it does involve high effort as you need to keep up with the trend especially if you are blogging about cryptocurrency. Also, it isn't easy to increase followers, subscribers and getting your site ranked. I guess it is profitable for someone who knows and enjoys blogging in my opinion but if you are someone (like me) who only does it for the sake of earning money and not sharing knowledge, I swear you'll get tired of it, so it isn't something that could be taken lightly in my opinion.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: FanEagle on February 03, 2020, 08:33:20 AM
That might be a useful chart for newbies who are willing to find a investment or earning source for themselves. Trading and mining too are been considered into riskier ways but they might give good profits but would require a lot of hard efforts in order to find some better peaks and dips. There also needs some more things which needs to be added like bounties, etc which would differ from signature campaigns.

Bounties might even be treated a riskier source of earning but with medium efforts. This would usually be a plus point for us if we could open multiple sources of income rather than just depending on a single source for our income.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Bitcoinislife09 on February 03, 2020, 11:38:28 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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: tbterryboy on February 03, 2020, 06:44:30 PM
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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: XCANA on February 03, 2020, 08:03:09 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.

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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: LUCKMCFLY on February 03, 2020, 10:01:39 PM
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.




Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Yamifoud on February 03, 2020, 10:10:36 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.


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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: chennappa121 on February 04, 2020, 01:49:43 AM
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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: CaVO32 on February 04, 2020, 01:59:53 AM
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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: libert19 on February 04, 2020, 04:42:55 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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: worle1bm on February 04, 2020, 06:06:02 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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: davinchi on February 04, 2020, 03:27:06 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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: XCANA on February 04, 2020, 03:47:14 PM
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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Coyster on February 04, 2020, 04:01:05 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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: redsun114 on February 04, 2020, 04:51:08 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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: julius caesar on February 04, 2020, 04:54:25 PM
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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: hatshepsut93 on February 04, 2020, 05:19:58 PM
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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: princesspoppy on February 04, 2020, 05:24:44 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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: Sanugarid on February 04, 2020, 06:15:27 PM
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.
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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: NotATether on February 04, 2020, 06:59:36 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 qz winning wagers:

https://i.ibb.co/FKRD8J1/Screenshot-2020-02-04-bitcoin-pdf.png (https://imgbb.com/)

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.


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: hatshepsut93 on February 04, 2020, 07:57:11 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.

~

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?


Title: Re: The profitability and effort put into different ways of earning bitcoin
Post by: NotATether on February 04, 2020, 08:19:38 PM

~

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.

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?  ???

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