Well, Voice.com by Block.one succeed where other cryptocurrency social networking attempts have failed. I’m so excited to see whether Voice.com will succeed or not because to me, there’s a huge need for being able to just post content online and directly earn.
The blockchain set up with a cryptocurrency allows this to be possible where users can simply upload content they love and then creators can earn directly. It’s a much better business model.
The problem is, it seems difficult to actually execute this. What I’m hoping is that Voice.com will learn from all the other failures especially Steem and see if they can get it right.
Let’s take a look at Voice.com in the image above. It says on the website, SOCIAL AS IT SHOULD BE and this could easily be the slogan for Steem and several other cryptocurrencies that are trying to make a social network.
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The challenge for doing a cryptocurrency-based social network is, you need the cryptocurrency to have value or some kind of money. You need users to use your site and you need people to then post content on it. Getting all 3 of those together and maintaining them over time is a big challenge.
Since, this is a project by Block.one, the company that created the EOS Blockchain or that put it out there and did the ICO. I imagine, there’s a lot of money behind this which to me means, it will make it easier to get lots of users and it will make it easier for Voice.com token to have some value and it will also make it easier to get content creators.
The question is will people stay and will the system positively reinforce itself?
Right now there’s only beta access as you can see in the image above meaning you can’t actually try this or see it functioning at all which might be a really good time to get in on it. If you were in on Steem right when it started, you could post a makeup tutorial and earn $10,000, $20,000 or $30,000. Then you could post another makeup tutorial and earn that much more money on it.
But today, you could post an outstanding guide on Steem several years later and be lucky to get a dollar or two out of it which is arguably worse than posting it somewhere like Medium for free where you might get ranked and then be able to get some clients off of it.
If you get in early on the beta, there might be the possibility of getting a lot of earnings early on. If you’re using previous networks like this already, the key thing that it’s putting up there right on the top of the page is ARE YOU A HUMAN?
I’m imagining since the chief technology officer of Block.one is Daniel Larimer who is the co-founder of Steem or Steemit which launched Steem. I’m imagining they’ve learned a lot from Steem including seeing how toxic bots are to a cryptocurrency social network.
Therefore, I imagine there will be some more stringent verification and more limitation on creating a bunch of accounts but still, even Facebook struggles with the bot accounts even though it’s got massive amounts of money and has been around forever. It’s very easy to create a fake facebook account.
Thus, the promise is no Robo mobs and no burner accounts but will they be able to actually deliver that?
Just like Steem and other networks, the idea is just to post some content and then see if you can earn something directly from your post. And then very much like Steem, maybe you can have a stake or a vote with which you can raise your voice above others. Now, what I’m interested to see is rather a downvoting will be included or not?
Human psychology makes negative interactions way more potent than positive. That means all interactions are not equal. You can see this for yourself or go through a day and see what you notice. Do you notice a thousand good things that go right and go according to plan during your day? Or do you pay attention to the 10 things that went wrong and messed up? That’s normal human psychology.
The big issue with current social networks based on cryptocurrency blockchains is, how do you control spam and how do you flag things? For example, if someone’s posting hates speech or stealing others content, how do you deal with that?
What we’ve seen on Steem is the long-term toxic effect of downvoting, where you have people that can take money away from others for no reason at all just because they don’t like you and this kills the users. It kills the content creators. It kills the whole community.
I hope Voice.com has learned from this and got a better system than downvoting because if it has downvoting, I doubt I will take it seriously or do anything with it because I know people. People don’t like having money taken that they think is theirs. In fact, most people will work way harder to avoid losing $1 than to make $100. That sounds irrational.
Let me give you a case study. I used to check all of my receipts from restaurants for years to make sure the waiter or waitress did not artificially increase my low tip. I worked really hard to make sure I didn’t lose a dollar or two here on a receipt. If I to put all that time into earning money, I probably would have earned thousands of dollars. Instead, I didn’t even save myself any money at all.
Thus, if downvoting is included on a blockchain, people will work so hard to not get downvoted that it kills the whole community. It defeats the whole purpose of having something like SOCIAL AS IT SHOULD BE because it’s not as it should be if people aren’t free to express their opinions without being afraid of losing money because one person doesn’t like it.
Therefore, I’m excited to see what Voice.com manages to do. I will have some updates once Voice.com goes live and in the meantime, I hope this has been useful for you. I was really excited to find out about this myself and give it a try. We’ll see what happens.
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You may like to read this post: How to Become Rich in Crypto Market WITHOUT Trading
Thank you very much for reading and learning. I love you. You’re awesome and I will see you in another post soon.