Another week, another opportunity to earn money off of tech entrepreneurs’ attempts to gain your attention.
Did you get your free Byteball yet as a Steem user?
It’s been a lot of fun on Steemit this past week, seeing everyone sharing the opportunity to get free cryptocurrency worth more than a week’s (month’s?) worth of upvotes on Steem. It’s also been an interesting test of Steem as a wide distribution platform, similar to Earn.com.
Byteball, for those unfamiliar with it, is a DAG, which is kind of like a blockchain, but with more of a webbed structure than a chain structure. It has some cool bot features that allow users to interact with smart contracts through their wallet app. Ostensibly, they’re using the Steem distribution as a way to get more people trying out their funky platform.
This is another one of those reasons why you should be active on the Steem blockchain. People with higher reputation scores are getting more Byteball than those with lower scores. Personally, I collected an airdrop worth $40 (half now, half in a year) with my score of 59, although if I was one point higher it would have been an extra $10! Commenting and posting quality content are the ways to gain reputation, as upvotes from higher reputation accounts will contribute not only to your Steem rewards, but also to your reputation score.
Peer to peer flight delay insurance is one of Byteball’s featured uses.
There will likely be many more opportunities to earn free cryptocurrency in the coming years. If you want to turn it into cash, I recommend signing up with Coinbase and Bittrex. Coinbase will allow you to buy and sell Bitcoin or Ethereum for cash, while Bittrex allows you to trade a large number of cryptocurrencies for Bitcoin or Ethereum. Steemians who wanted to trade their Byteball for Steem could do so via Bittrex.
In this case, you would sell your Byteball for Bitcoin, then buy Steem with Bitcoin. Finally, you could send that Steem back to your account and Power Up, giving your account a greater amount of influence and better upvotes.
Make sense? Hopefully! If not, leave a comment below, and I’ll do my best to answer your questions.