RE: Invite Your Friends To Busy.org, Earn A Bonus Equivalent To A Percentage Of Their Rewards!
The argument that new users won't understand the slider, or that choosing a vote percentage is too much work, seems silly when it could simply be provided as an option in the settings and only toggled on by "advanced" users who manage to locate it themselves.
The reason is actually that when SP is too small, choosing a smaller percentage of it to vote with can be below the dust limit, i.e. below the lowest amount of a vote allowed by the blockchain. They're blocking off a feature which can't work for those with tiny SP.
However would agree that it's a very clumsy way to shield users from this bad UX.
Any users who sign up via your referral link will get you 10% of their rewards for their first month of posting.
I'm surprised you're into this. Isn't this exactly one of the mechanisms of a ponzi scheme? I'm not saying Busy.org is a ponzi, but this is without a doubt one of the mechanisms. Just because it's rewards that busy would have taken anyway doesn't mean it doesn't create a "reverse funnel".
I wouldn't cal it ponzi as it's only restricted to a month.
It's simply a referral bonus - and it's a very common approach.
It would be ponzi if you get 10% of their rewards for life.
Yea true actually, that's more in line with the funnelling. Good point, thanks.
But it's not simply a referral bonus, it's dependent on how much they earn from posting in that time period, so it's like a flash ponzi or something 😅 I don't know, I guess it's a gray area.
I think Busy is just willing to pay this out of pocket, because it hasn't been a large expense. They're treating it like a loss-leading promotion to get new users. In the long term, you are right that the costs for providing this could prove to be hefty and perhaps they will need to tone it down.
The ethics of busy seem to be solid.
I remain on the fence. For me it's a red flag that they don't mention Steem in describing what it is they're doing, always has been since day 1.
Thanks for clarifying on the dust-vote limit. Perhaps a bottom threshold of 25% or something might have achieved the same purpose.
"Just because it's rewards that busy would have taken anyway doesn't mean it doesn't create a "reverse funnel"."
I'm a little unclear on this part. Busy doesn't assign beneficiaries to posts (as far as I know), so they don't take a cut of any posting rewards. I think they pay this referral bonus out of pocket as a promotion. Busy wouldn't have "taken the rewards anyway", it's just an out of pocket promotional expense.
Perhaps they fund it with curation payouts from the Busy.org upvote bot? I doubt it has been a large expense yet, as it is newish.
Oh right, well we should clarify that because the point hinges on it. I'll have a look, but I thought that's what you were saying.