[Originally published on Cent]
I decided to do an in-depth review of my earnings on Cent over the last 75 days since Seeding๐ฑ went live. So if you're curious as to whether anyone can earn any kind of money on Cent, give this a read - because the answer is yes!
Social Income
Over the last 75 days I've earned a total of $429 (3.4011441 ETH) on Cent from posting, seeding other posts, replying to posts and sorting replies - in that order.
To be clear, my Cent account has received multiple new payments every single freaking day, 75 days in a row.
Now I'm not sure if this sort of earning can be classified as passive income or what, so I'm just going to call this 'Social Income*' or 'Social Earning': money that I've earned for engaging with and contributing to social networks.
My posts have been seeded 360 freaking times! Posts I've seeded have received 345 follow up seeds that paid me plus anyone else who seeded before and after me! Although I haven't had as much time to sort replies as I'd like to, I still managed to get paid for sorting replies to 161 different bounty posts. I also received bounty rewards for 33 of my replies to bounty posts.
Ok, now for the powerful part...and Beer Money๐ป
Over that same 75 day period, I deposited roughly $422 (3.35 ETH) into my Cent Wallet. And I still haven't managed to spend it all.
I was not expecting that. I mean, I didn't realize I really earned that much over the last 75 days until I checked. And Jesus, that's like, $5.75 a day on average - that's enough to buy a decent pint! It's legit beer money.
So on a 'deposit to earned basis', I've earned more than I deposited. To get specific, I've earned $29 (0.22698472 ETH) more than I deposited after accounting for the 0.17584062 ETH that I deposited but haven't been able to spend yet.
But I've tried to spend every last gwei in my account. I really have.
Fun facts & Seeding๐ฑ
Over the last 75 days I've seeded 340 posts. As many of you know, along with @mckie I am one of the most prolific tippers on Cent and I managed to make 148 tips** over the same period. Of course I've also attached a bounty to nearly every one of my posts (66 out of 75 to be precise).
The $429 earned figure over the last 75 days represents 94% of my all time earnings on Cent; and I've been on Cent basically everyday for the past 13.5 months.
That fact is directly attributable to the introduction of Seeding๐ฑ on Cent 73 days ago. So, if this isn't validation that seeding *can* work, I'm not sure what is.
Wrapping up
What Cent is doing is so new. As a result a lot of things are unclear. How does seeding work? Why do I need to bounty? Can you really earn any real money on Cent?
Therefore one of the most important jobs anyone on the Cent team has is trying to clarify all of those questions.
This post was conceived and written towards that end. I hope it's helped show that anyone who thoughtfully engages with Cent can earn.
A bit on process
The numbers and figures presented above were derived after I copy-pasted my 'SPENT' and 'EARNED' transaction histories into an excel and edited it lightly to make the raw data readable.
All of this was done on my mobile phone, however, so things took a little longer to refine and analyze. That's also why I haven't included aggregate USD/ETH values of money seeded to my posts or seed earnings for example. I'll append those numbers below this post when I get around to doing that.
Feel free to ask me any questions you may have. I apologize if anything is unclear. I'll do a better job next time.
*Although I created the term 'Social Income' independently, after a Google search I found that J.R. Hicks appears to have originally coined the term around 1940 and carried out a ton of subsequent research. After a cursory perusal of said works though, it appears that by happy coincidence my conceptualization of the term appears to be additive to Hick's original concept of 'Social Income'. Potential connections warrant a deeper look at a later date.
**I didn't reflect the outlier 1 ETH tip I sent @charlesx for his illustration services in my calculations.
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