I am a complete sucker for optimising my finances. I’m always on the lookout for ways to save money and earn money. The more I can do of both, the more wealth I can build for the long-term. As part of this optimising process I try to pick what I call the ‘low-hanging fruit’ (LHF). Low-hanging fruit in this context represent opportunities for financial rewards with minimal effort. I also write on hive and I have written about LHF on that platform a couple of times (here and here).
Today’s post is an update to those posts and a short review of my experience so far using Cointiply as it is the major addition to my LHF stack (along with Axie Infinity) since my last posts on hive.
Here are some back of the napkin daily stats (please excuse my amateur pipe-delimited formatting) on the returns I'm getting from my current go-to LHFs:
Daily reward | SATs | ETH | USD | other
coinkit | 469 | 0.00181543998 | 0.0491940666 | -
cctip | 212.57 | 0.00005811928 | 0.02249739209 | -
cointiply | 2770.26 | 0.00075726 | 0.29 | -
publish0x | 170.44 | 0.00004653 | 0.01782649 | 0.06705357 ... BAT
publish0x | 362.37 | 0.00009869 | 0.038188 | 0.179117857142857 LRC
publish0x | 246.55 | 0.00006746 | 0.025857 | 0.02535 DAI
Brave | 1300.53 | 0.00035569 | 0.135793 | 0.511 BAT
Axie infinity | 16680.72 | 0.00454784 | 1.7339077 | 38 SLP
Presearch | 69.13 | 0.00001895 | 0.007184 | 0.430555556 PRE
hive author | 2826.29 | 0.00077371 | 0.293870967741935 | -
hive curation | 537.45 | 0.00014706 | 0.05588529 | 0.293714285714286 HP
Total SATs = 25641 / day (approximate - rounded down to nearest SAT when calculating SUM).
Very interesting! The original title for this post was going to be 'Towards 10,000 SATs a day' but now I've actually done the numbers I'm well clear of that milestone. Without my Axie play I wouldn't quite be there. I usually only play Axie on the weekend. I have less time during the week (except on my train commutes but the battery life on my phone is shocking so I can't be playing Axie on the train. Sigh). With the twitter tip bots I do earn other sh!tcoins but I have only counted what I've earned in BTC from coinkit and ETH from cctip as all the others are pretty insignificant. Some newer additions to my LHF stack are the Fold app daily spinner and various faucets. I will get a better idea of whether or not they're worth continuing with after a month’s use. There are also others I would like to try like Coinpot and Rollercoin. I looked at them briefly and had a bit of a play but it seemed that to get the most value from them you need to use a computer. I spend most of my internet time on mobile devices. I was using LBRY and was a lurker on Theta TV but haven’t spent much time on those platforms recently. On Theta I found that I couldn't 'mine' TFUEL just by viewing streams.
A year or so ago I kept reading others rave about Cointiply. When enough people recommend something I think it's worth my attention so I add it to my 'opportunities' list to have a look at. The feature I use most on Cointiply is the hourly faucet. There’s a funny story why - when I first started using Cointiply I spent a bit of time completing Theorem Reach surveys. After monitoring the earnings from these surveys I was not impressed! I thought for the reward vs effort, it was pretty measly. So I started playing the faucet more and more. The thing with the faucet is that there is instant gratification. It creates the illusion of earning at a better rate. The other thing I liked about the faucet was that for each day you play, you get an extra 1% of rewards on top of the standard rewards for each roll of the faucet. So I became determined to keep up my run all the way to 100%! About the same time that I achieved the 100% rewards faucet milestone, I also got to 35,000 coins. This meant I started to earn interest. Whoop! It also meant that I was able to withdraw my coins (although, as I learned, it’s 35,000 minimum withdraw for DOGE but 50,000 for BTC. Sigh). However, when I started reading some of Thomas Wolfe’s (Cointiply and Publish0x influencer and thought leader) posts I realised that there were ways to move the needle faster. I followed Thomas's advice and bought some 'pods'. They increase your earning capabilities for a period. I started to notice my coin count grow quicker while I had these 'pods' (consumables). However, it still didn't quite meet my expectations. There is still a lot to Cointiply that I need to try though so I am not done with it yet!
Crypto vs FIAT money
I can’t speak for everyone but my view is that I’m happy to ‘do work’ (ie. pick the low-hanging fruit) for less than the equivalent amount of work paid in FIAT because it is my belief that earning in BTC or other crypto will reap rewards in the long term. I believe that the currencies I’m earning in, whether BTC, BAT or other, will be worth 10x or 100x more in the years to come. I’m pretty confident that this is the consensus view. I do other similar tasks and get paid in FIAT. One platform I have used for many years is PureProfile. Generally I withdraw $20 AUD earned on this platform every month or two. This is an earn-rewards-by-completing-surveys platform, similar to Theorem Reach in Cointiply. It’s a much fairer rate for the time I spend compared with Theorem Reach. This begs the question - why don’t I just transfer that money into BTC? Well, it’s mainly because I use that money to pay bills IRL, whereas everything I earn in crypto feels completely abstract. It stays in the crypto world. It’s my one-day-moon money. There is this feeling of disconnect between the FIAT world and crypto world. I hope that one day they become seamless!
The big question - is it worth it?
I live in a city in a first-world country where the cost of living is pretty high. It probably makes a lot more sense to chase the LHF if you live in a second- or third-world country. The hours I spent testing Cointiply ‘pods’ the other day and the amount earned made me cringe. I used to wonder - would it be possible to do this all day every day instead of working in paid employment? Obviously one LHF is different from another but the breakdown of earnings make it seem unlikely. It also comes down to this question - what else would I do with my time if I wasn’t on these platforms scrolling and clicking (and typing f%^$ing captchas) for so many hours a day? Of course, as Thomas Wolf does, one can optimise their time by multi-tasking, combining ‘grinding’ tasks on Cointiply with other menial tasks such as watching TV shows they’re only half interested in (but then - why bother watching if you’re only half interested?). To that end, here’s a TODO list to pull me away from these low-reward activities:
- stop being lazy.
- get out in the garden more.
- do more writing.
- find a new hobby.