What will you do with your MSM winnings? \ stacker news ~meta

What will you do with your MSM winnings?

552 sats \ 61 comments \ @cryotosensei 27 Mar meta

The launch of the Million Sats Madness more or less coincided with the announcement that AXS (bill payment company) will partner with Triple A (crypto payment company) to enable Bitcoin payments in Singapore.

I could actually pay for my town conservancy bill (some sort of maintenance fee) with Bitcoin!

The drawback is that Triple A charges a 2% service fee, but I think a 2% fee is value enough for the novelty factor and joy it brings me. I will treat this 2% as paying a tuition fee.

What’s more, I can make use of the Lightning Network! There was a similar announcement in which Triple A secured a partnership with Grab (our version of Uber) to allow top-ups in Bitcoin. But the top-ups could only be done on the main chain. So if I could pay for a government bill with sats, I should just grab hold of the opportunity.

It seems that I will be placed anything from 11th to 15th for this competition. ~50k sats should enable me to pay about half of my conservancy bill. I’m looking forward to paying my bill for once! One step closer towards acquiring the Bitcoin Standard.

What do you intend to do with your MSM winnings?

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295 sats \ 1 reply \ @DarthCoin 27 Mar

Part of the sats I will use them to help more salvadorans to get onboard and understand the power of Bitcoin. I do this every time I earn a significant amount of sats. I have some humble salvadorans contacts that I want to help them. I like to support people directly, so could be avoided possible scams.

Other part will be sent to other FOSS developers.

30 sats \ 0 replies \ @Byz 27 Mar

That’s a great thing!

354 sats \ 16 replies \ @south_korea_ln 27 Mar

It'll probably just be enough to replenish my wallet for April zapping...

106 sats \ 14 replies \ @Undisciplined 27 Mar

I'm largely breaking even as well

202 sats \ 6 replies \ @0b1CoinObi 27 Mar

I can see it's been a lot effort for very little gain. Can you imagine doing this month after month after month. No thanks As they say in gambling "the house always wins", in this case SN. They will have had you on the site engaging for 31 days solid. I for one hope it's an experiment that won't be repeated or else it's following a well trodden path of engagement tactics seen on Instagram, TikTok, Snapchat, Threads, Fbook etc Who has that kind of time? I want it to be a fair and equitable system for the majority, not just those who can post near constantly day after day. Some of us have lives as well. Moan over 😄

135 sats \ 2 replies \ @Undisciplined 27 Mar

I'm not here to make money. I'm here because SN has the best community to engage with. That I can make money here is a bonus. Also, zapping isn't hard.

33 sats \ 1 reply \ @0b1CoinObi 27 Mar

Me neither regarding the money and I fully agree this is a good community, I for one am happy to engage with and spend some of my time, reading, posting & learning and enjoy the interactions with other members. I like this system of being able to zap users who have good content and also have bothered to spend some of their time engaging with me. I see it as a thank you and it's monetary, which is a lot better than a red heart, thumbs up. I'll be happy when it goes back to the old system in April

27 sats \ 0 replies \ @Undisciplined 27 Mar

I'll be happy when it goes back to the old system in April

I will be too.

I like these occasional experiments. One thing to remember is that SN is still very young and the team has a lot to learn about their rewards system.

56 sats \ 0 replies \ @justanumber 28 Mar

They will have had you on the site engaging for 31 days solid. I for one hope it's an experiment that won't be repeated or else it's following a well trodden path of engagement tactics seen on Instagram, TikTok, Snapchat, Threads, Fbook etc

Totally agree about the mainstream social media tactics to drive up engagement. And yes some of us have businesses/jobs/lives/families etc...

25 sats \ 0 replies \ @cryotosensei OP 28 Mar

Thanks for your effort for Fun Fact Friday then. I always enjoy your facts

15 sats \ 0 replies \ @carlosfandango 27 Mar

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41 sats \ 6 replies \ @south_korea_ln 27 Mar

You are a generous zapper, indeed.

130 sats \ 3 replies \ @Undisciplined 27 Mar

Like they say, "You have to spend money to make money."

36 sats \ 2 replies \ @carlosfandango 27 Mar

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20 sats \ 1 reply \ @Undisciplined 27 Mar

Sure. If you want to see a contrast of quality vs quantity, look at davidw a couple of spots above me in the rankings.

21 sats \ 0 replies \ @carlosfandango 27 Mar

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21 sats \ 1 reply \ @justanumber 27 Mar

Those are some very interesting figures...

10 sats \ 0 replies \ @Undisciplined 27 Mar

No risk it, no biscuit

10 sats \ 0 replies \ @cryotosensei OP 28 Mar

I still owe you a biomimicry article haha

319 sats \ 4 replies \ @Public_N_M_E 27 Mar

I'm going to need it to contribute to the territory fees. So, I guess it's going back to the community via SN.

31 sats \ 1 reply \ @cryotosensei OP 28 Mar

I need to make a more concerted effort to hang out at your Saloon

0 sats \ 0 replies \ @Public_N_M_E 28 Mar

We'd love to have you. We just share music and laugh about memories it brings up. It's a good place thanks to the people who take part.

21 sats \ 1 reply \ @0b1CoinObi 27 Mar

I hear you and it something that I think about a lot when I see territories go by the way side. The territory fees are in sats and as BTC goes up in price so does your territory cost as I imagine most owners work down the fiat mines, so the cost will nearly always be pegged to the BTC to FIAT rate, that is until the world adopts BTC as the standard currency, I won't hold my breath. BTC could be 80k in a few weeks or 100k by the end of the year. BTC was 42.4k on Jan 1st, so by the year end if BTC hits 100k then you will have seen a 236% increase in your territory cost in 12 months. What's SN going to do about this? It's all well and good pricing in BTC when the price is low, it's the way forward if we want to have BTC adoption and SN must put their sats where their mouths are. But when BTC goes exponentially higher the owners are going to really struggle and territories will close. What's the answer?

120 sats \ 0 replies \ @Public_N_M_E 27 Mar

I don't have an answer at all honestly. Some ideas have been floated here and there about scaling fees. Some ideas have talked about low renewal fees but high buy ins.

Its tough, you want your users to zap more freely so the territory self floats... But your also aware that the more they zap the more it costs them and as it goes up, so to does the cost to the users. And the less they are comfortable zapping.

So if you can't increase the income per user, increase the users 🤔?? Which I have noticed an uptick in ~Music, which is great! But those users also need to learn about the SN economy and how being more free with your zapping can generate better income from rewards, and that's an odd concept for people to get after we've had the HODL idea for so long. Now its Spend and earn more!

I don't really have any answers on this sadly, its something I've been thinking about loads is how to sustain the territory sustainably...

284 sats \ 2 replies \ @WeAreAllSatoshi 27 Mar

Use them for zapping on SN

20 sats \ 0 replies \ @Undisciplined 27 Mar

Same, but also use them for bigger zapping on SN

10 sats \ 0 replies \ @cryotosensei OP 28 Mar

Wow do you take revenue from this site?

335 sats \ 1 reply \ @Undisciplined 27 Mar

I'll be roughly at the same place I started the month, so more or less I'll be going back to pre-MSM zapping.

As of my current ranking, here's what my default zaps will become:

33 - Regular comment
330 - Regular post or great comment
3300 - Great post

31 sats \ 0 replies \ @cryotosensei OP 28 Mar

Wow, an increase in 50 sats. I only benefitted from your 280 sats haha

447 sats \ 1 reply \ @StillStackinAfterAllTheseYears 27 Mar

(Seriously, stack some and probably double my default zap. Maybe grab a game from Joltfun if something's on sale.)

10 sats \ 0 replies \ @cryotosensei OP 28 Mar

Good that you plan to spend part of it on something fun haha

90 sats \ 2 replies \ @WeAreAllSatoshi 27 Mar

Also, do you call them winnings, or earnings?

20 sats \ 0 replies \ @DarthCoin 27 Mar

good question

10 sats \ 0 replies \ @cryotosensei OP 28 Mar

Thanks for getting to the core of things! Indeed we work our asses off for them

92 sats \ 2 replies \ @carlosfandango 27 Mar

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20 sats \ 0 replies \ @justanumber 27 Mar

🫂👏🏼👏🏼

10 sats \ 0 replies \ @cryotosensei OP 28 Mar

Does zapping me really cost that much? xP

69 sats \ 14 replies \ @justanumber 27 Mar

What winnings?

20 sats \ 0 replies \ @cryotosensei OP 28 Mar

Hang in there. MSM will be over soon!

51 sats \ 12 replies \ @carlosfandango 27 Mar

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35 sats \ 5 replies \ @justanumber 28 Mar

I don't wish it to go back how it was. Being rewarded for zapping top posts and top comments "early" caused people to try and predict what would be "top", leaving good content and worthy comments languishing. I could see people zapping any old crap and/or people posting any old crap to farm zaps from those gaming the system. Or just commenting low quality nonsense to be the first to comment to collect the early zaps. Also strongly suspected bot activity. Also heavy zapping of certain popular contributors to try and ensure an early top comment zap, leaving less known, newer contributors or just contributors who come in later sometimes thinking what's the point. People in different time zones can be disadvantaged. Something more equitable needs to be implemented that rewards decent contribution. But after the MSM comp I fear what any alternative might end up being implemented. Perhaps if we end up with an new MSM (Mainstream Madness) style replacement or worse then the old rewards system would be better the devil we know. Anyhow, whatever happens, it doesn't matter to me. If it doesn't suit I will just leave or spend way less time here, but it would be shame if a better model with integrity couldn't be found.

35 sats \ 1 reply \ @justanumber 28 Mar

What MSM has done though is show me which people are the try hards who have fallen for the school/fiat work style competition behavioural manipulation bollox and which people have the intelligence to recognise it for what it is and the integrity to speak out (clue the latter are in the very few!). So that's been interesting to watch. I don't expect to be popular for saying all these things.

27 sats \ 0 replies \ @carlosfandango 28 Mar

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27 sats \ 2 replies \ @carlosfandango 28 Mar

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35 sats \ 1 reply \ @justanumber 28 Mar

I have spoken before about MSM. Totally unfair making everyone work their socks off to try and be "in the running" but only a few will benefit from everyone's hard work. But they will convince themselves they have worked for it and deserve it - and they will do to an extent but there have to be losers for there to be winners - a bit like a shitcoin. Damn, did I just say MSM is a shitcoin? 😬 There just too much to go into to explain what and why I don't like it. That's why I said right from the beginning I would not be "doing it". Lottery style gradient with top winner(s) and the rapidly decreasing pool. Also look at the leaderboard. Look at the figures closely (the ones you can see) some of them don't make sense, something very wrong there. I spoken so much about it the past few weeks but don't have the time any more. I think I've said enough. It's not for me to try to help structure someone else's business for them. It's VC backed and they usually want ROI, so I guess that why it's set up in this fiat style way.