I was just wondering if anybody here has attempted or considered making money in the crypto world in other ways than trading currencies? For example by creating a blog or app or hedge fund of sorts or even their own cryptocurrency. I'm sure that there's a whole lot of potential to make a lot of non-risky money in this space right now and I'm brainstorming ideas.
Making money in Crypto without trading
Blog: Not much to monetise, afaik exchanges don't have affiliate programs, which leaves you to linking to sites where you can turn fiat into BTC, eg Coinbase. These are pretty crappy programs imo: https://99bitcoins.com/get-earn-bitcoins...-programs/ eg Coinbase you can earn $10. Better with a blog is monetising into a private slack/telegram where there is a monthly fee to join.
Hedge fund: got one after the other popping up. I guess (depending on your background) with all the hype atm it's quite easy to get some funds/investors in. Quick math is you need to get well over >$2-3M to make this your main income plus comply with regulations and pay some lawyers big money before you can even get it started.
Creating your own coin: Have been thinking a lot about that, just like the other thousands who jumped into this the last weeks/months. While returns can be massive, it's getting harder and harder, you need to spend tons on marketing (FB ads, twitter..) and good publicity. This market is just getting mental currently with new coins signing up celebrities to promote their coin on IG or as member of the team. Some coins are even promoting themselves as 'coin founded by an ex-model'. Other issue here is you (kind of) need a product or solve an issue, just like a start-up to get people hyped. Target big markets (eg coin for airmiles, hotel vouchers, online casinos, porn, finance...)
My personal take, starting some private community would be the easiest way to profit. Profits can be huge (monthly fees range from 0.05BTC-0.15BTC) with 0 investment ($30 Slack membership). Downside is you need a good following/rep to start with or you can try to sign up some 'famous' crypto-traders through Twitter to join and pay them based on the earnings in your community. When you get a community with 100 paid members at 0.05BTC that's $21k/month.
I like the idea of 'interwoven' businesses, so you could build up a following from your private community or pay the traders to shill the coin you create. Doing it the other way around is a lot harder (and costlier).
Can always PM me if you want to talk further.
Hedge fund: got one after the other popping up. I guess (depending on your background) with all the hype atm it's quite easy to get some funds/investors in. Quick math is you need to get well over >$2-3M to make this your main income plus comply with regulations and pay some lawyers big money before you can even get it started.
Creating your own coin: Have been thinking a lot about that, just like the other thousands who jumped into this the last weeks/months. While returns can be massive, it's getting harder and harder, you need to spend tons on marketing (FB ads, twitter..) and good publicity. This market is just getting mental currently with new coins signing up celebrities to promote their coin on IG or as member of the team. Some coins are even promoting themselves as 'coin founded by an ex-model'. Other issue here is you (kind of) need a product or solve an issue, just like a start-up to get people hyped. Target big markets (eg coin for airmiles, hotel vouchers, online casinos, porn, finance...)
My personal take, starting some private community would be the easiest way to profit. Profits can be huge (monthly fees range from 0.05BTC-0.15BTC) with 0 investment ($30 Slack membership). Downside is you need a good following/rep to start with or you can try to sign up some 'famous' crypto-traders through Twitter to join and pay them based on the earnings in your community. When you get a community with 100 paid members at 0.05BTC that's $21k/month.
I like the idea of 'interwoven' businesses, so you could build up a following from your private community or pay the traders to shill the coin you create. Doing it the other way around is a lot harder (and costlier).
Can always PM me if you want to talk further.
You can also mine alt coins. Do you have access to cheap energy?
"The great secret of happiness in love is to be glad that the other fellow married her." – H.L. Mencken
Ive just started doing some small time mining - ethereum, monero and zen cash.
Rather than a dedicated rig, im just using my existing hardware which is one pc with 2x1050ti cards and another with an amd r7 370. I try to keep them running whenever i can, when they run 24 hours a day i get somewhere around $1.80 a day, but since ive been doing it for less than a month, my data set is far from comprehensive.
I have solar panels that power it during the day, but at night and during the winter months their generating power is diminished or non existent. Once ive been doing it for a while and have some more numbers to crunch, I'll look at building a dedicated rig, but am reluctant to go all in on hardware just yet, especially considering how overpriced GPUs are at the moment, thanks to other hobby miners like myself.
Rather than a dedicated rig, im just using my existing hardware which is one pc with 2x1050ti cards and another with an amd r7 370. I try to keep them running whenever i can, when they run 24 hours a day i get somewhere around $1.80 a day, but since ive been doing it for less than a month, my data set is far from comprehensive.
I have solar panels that power it during the day, but at night and during the winter months their generating power is diminished or non existent. Once ive been doing it for a while and have some more numbers to crunch, I'll look at building a dedicated rig, but am reluctant to go all in on hardware just yet, especially considering how overpriced GPUs are at the moment, thanks to other hobby miners like myself.
I own a few domains in the space.
I think blogging about crypotcurrencies would be a great way to start. Saying there are no great affiliate programs underestimates the power of blogging.
Blogging is an incredible audience building tool. This topic is all the rave right now and no doubt will be in some form or another for years to come - and I'd venture to say we're talking about a very attractive market base to be able to communicate with. Even if there are no directly related affiliate programs (yet), there are tons of other companies out there who would love to leverage your access to that audience - assuming you build a big enough readership - for advertising purposes, joint ventures, or even an outright purchase of your platform down the road.
Building credibility and engagement with a captive, moneyed audience leaves you with a lot of choices no matter what tools you use to do it.
I'd work on building the credibility and list first and worry about how you're going to monetize it later. I honestly don't see how you could lose.
I think blogging about crypotcurrencies would be a great way to start. Saying there are no great affiliate programs underestimates the power of blogging.
Blogging is an incredible audience building tool. This topic is all the rave right now and no doubt will be in some form or another for years to come - and I'd venture to say we're talking about a very attractive market base to be able to communicate with. Even if there are no directly related affiliate programs (yet), there are tons of other companies out there who would love to leverage your access to that audience - assuming you build a big enough readership - for advertising purposes, joint ventures, or even an outright purchase of your platform down the road.
Building credibility and engagement with a captive, moneyed audience leaves you with a lot of choices no matter what tools you use to do it.
I'd work on building the credibility and list first and worry about how you're going to monetize it later. I honestly don't see how you could lose.
Beyond All Seas
"The individual has always had to struggle to keep from being overwhelmed by the tribe.
To be your own man is a hard business. If you try it, you'll be lonely often, and sometimes
frightened. But no price is too high to pay for the privilege of owning yourself." - Kipling
"The individual has always had to struggle to keep from being overwhelmed by the tribe.
To be your own man is a hard business. If you try it, you'll be lonely often, and sometimes
frightened. But no price is too high to pay for the privilege of owning yourself." - Kipling
How can I bet on growth of the crypto currency economy as a whole?
Nobody knows what value a coin is going to have tomorrow let alone a year from now. But it seams plausible the crypto market as a whole will be booming for some time, with more people pouring money in.
So how can we bet on this?
Nobody knows what value a coin is going to have tomorrow let alone a year from now. But it seams plausible the crypto market as a whole will be booming for some time, with more people pouring money in.
So how can we bet on this?
Quote: (10-04-2017 03:03 PM)asdfk Wrote:
How can I bet on growth of the crypto currency economy as a whole?
Nobody knows what value a coin is going to have tomorrow let alone a year from now. But it seams plausible the crypto market as a whole will be booming for some time, with more people pouring money in.
So how can we bet on this?
Projects like Iconomi and Enigma mimic index funds for cryptos. If you want a one-stop shop option and don't mind paying the fees, that might be your best bet.
Quote: (10-03-2017 11:26 PM)Beyond Borders Wrote:
I own a few domains in the space.
I think blogging about crypotcurrencies would be a great way to start. Saying there are no great affiliate programs underestimates the power of blogging.
Blogging is an incredible audience building tool. This topic is all the rave right now and no doubt will be in some form or another for years to come - and I'd venture to say we're talking about a very attractive market base to be able to communicate with. Even if there are no directly related affiliate programs (yet), there are tons of other companies out there who would love to leverage your access to that audience - assuming you build a big enough readership - for advertising purposes, joint ventures, or even an outright purchase of your platform down the road.
Building credibility and engagement with a captive, moneyed audience leaves you with a lot of choices no matter what tools you use to do it.
I'd work on building the credibility and list first and worry about how you're going to monetize it later. I honestly don't see how you could lose.
Bingo
There are a ton of idiots in the IM space trying to make courses for crypto. Unfortunately most don't know what they're doing and are just in it for a quick buck.
If you're good on camera and have the knowledge, it'd be super easy to put together a newbie course for people interested in buying.
The "Cryptocurrency" interest on Facebook has 3M people in it right now, and expands daily.
Anyone here setup a Masternode? From what I can tell it looks pretty lucrative a generating passive income
Masternodes are dumb.
Lol, but any particular reason why?
You're tying yourself to a single currency, and most currencies, particularly masternode based ones, tend to depreciate in value relative to BTC rather rapidly.
A 10% drop will annihilate your masternode gains and then some. Far better to just hold BTC.
A 10% drop will annihilate your masternode gains and then some. Far better to just hold BTC.
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