InvestorsHub, a popular investor message forum owned by ADVFN, has recently incorporated a cryptocurrency called “PlusOne” as an incentive to their board users.
PlusOneCoin is a social media cryptocurrency. Users who read the bulletin board can use their coins to ‘+1’ posts that they like. This promotes the posts around the site, bringing their message to a larger audience. As a reward, most of the coins go to the post’s author, encouraging them to create further great content. The rest goes to the site enabling the publisher to enhance and support the community. Everyone is incentivized to create the best content and give it the recognition it deserves. You can even spend your PLUS1 on promoting your own posts.
The coin is a true blockchain-based cryptocurrency and can be traded on exchanges outside InvestorsHub, therefore it has a monetary value in the real world. Owners of the coin can continue to support the community or simply cash in the coins!
Got Questions? We got answers…
You can buy some from TradeSatoshi, you can get some for FREE with iHub’s Faucet, someone else can give you some by promoting one of your posts, or you can mine coins. You can buy and sell PlusOneCoin on the exchange TradeSatoshi. It has the ticker PLUS1. Now users will need a wallet to accept and send coins, you can get a wallet address on the iHub PlusOneCoin wallet page. You can see the price for PlusOneCoin on InvestorsHub (COIN:PLUS1USD) or on TradeSatoshi. You can read or join in conversations about it on the PLUS1 message board on iHub or on the Bitcoin Talk bulletin board.
Will PlusOne be the next STEEM?
It will be interesting to see if this system catches on. This system, similar yet different from the popular site and cryptocurrency STEEMIT, incentivized authors who wrote articles—about anything.
Steemit is a social network that looks and functions a lot like Reddit, but with one HUGE difference:
Steemit pays both the content creators when their work gets upvoted, as well as the people who curate the best content on the site by upvoting others work. Every day, new units of the currency are created by the network and distributed to its users, who can exchange these digital currency units for actual real money.
Unlike Plus1, where it goes wallet to wallet, Steemit works slightly different. The first thing you need to understand is that there are three different kinds of Steemit currency units. They have Steem, Steem Power, and Steem Dollars.
Steem are the units that are bought and sold for actual money on the open markets. You can trade them as you would bitcoins or a company’s stock.
But you don’t want to hold on to these for too long because more Steem Units are created every single day. If you hold onto Steem Units for a long time, they will become diluted and lose value.
Owning Steem Power Units is essentially like making a long term investment in the currency because you can’t sell Steem Power Units for 2 years. But there are a lot of good reasons to have Steem Power.
By keeping your currency as Steem Power Units, you will be able to make considerably more money in the long run because you essentially have ownership in the network. As the network grows, so will your piece of the pie.
And you’ll be heavily rewarded along the way. The way things are set up now, 90% of the new Steem Currency that is generated every single day is distributed to the people who already hold Steem Power Units in the form of additional Steem Units. (The other 10% goes to content creators and curators).
Half of the pay you receive for your content will be in Steem Power Units.
Also, the more Steem Power Units you have, the more your curation vote will count. You will have more influence on the site and you will also get paid more for upvoting other people’s work. (When you upvote someone’s work, they will get paid more as well.)
Steem Power Units also play one final and very important role. They prevent massive price swings and volatility on the open markets. Because everyone is locked in for 2 years, we can’t all sell our currency all at once if the market starts to dip, which would crash the price were it to happen.
Steem Dollars are the third and final form of the currency and never get diluted or lose their value. They are designed to be a stable currency that you can sell at any time. When you create popular content, 50% of your pay will be in Steem Dollars.
And you’ll be rewarded for holding Steem dollars too. It’s not nearly as much as the rewards for holding Steem Power. But because it still keeps the currency in the network, holding Steem Dollars pays 10% interest.
When you earn Steem Dollars for creating content, you have three choices:
1) You can convert the Steem Dollars to Steem and sell it immediately on the open market for real money, essentially cashing out.
2) You can hold the Steem Dollars, which keeps the money in the network and pays you 10% interest. You can sell them at any time. If you think the value will go up and want to sell at some point in the near future, this is your best option.
3) You can exchange your Steem Dollars for Steem Power. If you want to invest in the future of the currency and reap the biggest rewards, this is the way to do it.
Got it? I hope you do… but PlusOne seems tad easier. Happy trading and go go go crypto! Please don’t forget to join and like our sister site h0d1.com, as we are building a crypto community. We are always looking for bloggers, and business partners to make the site better, bigger, and full of great content.