How Easy Is The Stish Token Event?
There has never been an easier way to participate in a token event ever! The best thing about the Stish Token Event is how easy it is to be a part of it all. We are building an amazing community platform around the cryptocurrency Stish. Community members get Stish rewards when they do things that benefit the total community such as creating blog posts and micro-blog posts. There is a whole list of awesome ways to earn Stish rewards.
The development of the community is nearing completion which is great news for you.
Most token ICO’s or token events just have some thoughts or ideas floating around. Very few of them ever even develop any working prototypes or are able to actually launch a platform to solve the problems they talk about. Stishit.net and Stish crypto are different. You can actually join the community and be a part of the cryptocurrency revolution before you help fund the development. For the first time in history you can help control the direction of the social network that is being built. Isn’t that amazing news? We thought it was really awesome to have FREE SPEECH and Cryptocurrency interconnected into a social media platform.
With most ICO’s the risks are very high as there is year development generally speaking. With Stish and Stishit.net we are nearing completion of the social networking platform that will allow all the Stish cryptocurrency supporters a super great place to relax and discuss crypto and whatever else that come to mind.
Stish will soon be wrapping up the Stish Wallets which will allow everyday internet users the opportunity to experience crypto possibly for the first time. This will also help us ease into automation of the rewards system. No more oops about adding a bad wallet address to your profile!
What are some Challenges that Stishit.net and Stish face that we need help overcoming?
With the platform being nearly finished and self funded up until this point many often ask,” How will you use the funding?” The challenge at this stage of the game is funding for Stish distribution initially to massive amounts of users. We have self funded an enormous amount of currency distribution but as we scale up membership and distribution we will become cash strapped and be unable to meet the demand for Stish distribution via rewards.
The second challenge that we naively learned about was that listing a currency on large centralized exchanges with plenty of liquidity isn’t cheap. We are looking at realistically at minimum $100,000 USD in funding for just 2 major exchanges with API services so that we can integrate Stish cryptocurrency into not only this platform but other platforms much easier in the future reducing development costs drastically for future projects using Stish. Cryptopia for instance has a listing fee of $45,000 USD plus market maker fees and essential liquidity guarantees. This was one of the lower costs high producing centralized exchanges we looked into. Other platform have a far greater buy in fee.
Most successful ICO projects typically spend between 50,000 and $300,000 USD in marketing to raise million of development and operation dollars. We have been a grassroots project and spent less than $1000 USD so far in marketing. Most of this was to have users actively testing our Beta versions of different features of the platform. We will need more funding to successfully launch a token event. Doing so will not be a challenge and we have been speaking with different companies and examining many different offerings in regards to which avenues have yielded the highest ROI. We will likely invest enough funding for an analysis of our user acquisition costs and how many users do we need to acquire before we see Stish Token sales. Which we already have some data on this so far but a further marketing study would be needed so that we could allocated funds as judiciously as possible.
What Is The Main Concept People Are Buying?
The concept appears simple to me. In a nutshell people create full blog posts, or share short content posts (microblogging) and create comments etc and receive Stish Credits for their efforts in building the community around the currency Stish. We will soon Automate the exchange of Stish Credits to Stish crypto once the Stish Wallets are ready so that all members will receive a Stish Hot Wallet a.k.a Stish Light Wallet. We could run payouts monthly or weekly in Stish Cryptocurrency. Some development is still needed for complete automation. Once complete the ease of use of Cryptocurrency for tipping other content creators is kind of cool.
More importantly, being rewarded in crypto for building a social network verses all of the value of the company going to the CEO or Shareholders is a dramatic redistribution of the normal flow of economic incentive. For all of the large social media companies that exist today the founders and a few of their friends who sit on the board typically rake in all of the profits along with a few shareholders for all of the user’s hard work. Most people don’t even think about it but each one of these large corporate social media companies only see you and your content as a $ sign! With Stishit each member is not being given Stock or dividends but they own their content and the value which that content has.
Different content types have different values pre-defined that can vary in rewards to be received upon completion. (see a full equitable list of tasks rewards here. ) Some platforms have these rewards based on how much of the currency you already possess. Some award these dependant on the community vote which is also determined by how much currency the person voting possesses. Neither of these are very fair models. . Much like the lottery or casino. Average folks rarely win the jackpot as you would need to wager larger amounts of funds to have a real ROI or buy large amounts of tickets to increase your odds. Average people generally can do neither so that have lower odds of actually winning.
Many of the unfair rewards models are like paying 2 different prices for groceries depending on how much money you have. For example: If you bought a loaf of bread but already had 10, well you get a better price for the loaf of bread. If you are new to buying bread then you pay more for the loaf of bread. If you make less money the loaf of bread is double than if you make more money. This will essentially take the wealth from the poor and transfer it to the rich over time. It is a slick yet deceiving financial model where the poor get poorer and the wealthy get wealthier. The whole social media rewards concept was developed to help distribute the wealth of the social network back to those that created the value to begin with!
Stish and Stishit solve this with equitable rewards. Each person can create value and receive a predetermined amount for that effort. Since most of the Stish holders will likely be members of the community there will be a natural tendency to not do anything to jeopardize the value of the currency or the platform. People will want to talk about the benefits of the community and make positive trades for the betterment of the whole community. The actual value of each individuals contribution is thusly defined by their own perceived value of their efforts and the price they are willing to trade their Stish currency for. If people value their time and effort cheaply they might list their Stish for sale at a low price while other who contribute might value their time and effort more highly and list their Stish for sale at a higher price. This is where there can be traders waiting in between to provide liquidity and drive pricing up for their own benefit naturally as we all would love to see ourselves rewarded well for our efforts.
As a store of value time will determine what that natural value will tend to be based on analytics and metrics. Will growth of the platform play a part? Will the increase in short posts or long posts be considered? Will lowering the amount of rewards issued per task over time cause scarcity in the markets causing a pricing boom? Time will answer all of these unknown questions. I hope to see you there at the finish line with me and hopefully standing there in awe of what a community that is passionate about a cryptocurrency can do together.
The Token Event Is So Easy With Meta Mask!
For those new to Ethereum based cryptocurrencies, MetaMask is a browser plugin/extension that allows you to interact with Ethereum based cryptocurrencies. It is very secure and now allows you to send and receive currencies just like Stish with very little setup time or learning curve. They keep making it better with every update. MetaMask.io has a little fox icon. With metamask you can create a wallet address that can send and receive Ether, Stish, or other ERC20 based currencies. So if there were other currency that was Ethereum based you could send and receive them. Ether wallet addresses are cryptographically created and begin with 0X. You will want to save your private key which is like a password that allows you to have access to your Ether Wallet Address. This is very important that you make a text file somewhere with your wallet address and private key. Generally it is smart to store these offline and one a clean flash drive or print them and put them in a fire proof safe. Ether based wallets can not be recovered without your private key!
How To Buy Stish?
If you already are familiar with Ether Wallet Addresses and have some Ether in your wallet address there are 2 super easy ways to participate in the token event with Stish.
- First you can visit the Token Event Page and enter the amount of ETH you want to participate with and it will show you the amount of Stish you will receive. Using the token event tool you can interact with the website with metamask for super fast participation.
- If you perhaps use MyEtherWallet or Build your Ether Wallets On Your Desktop then you can easily send the amount of ETH that you wish to participate with to 0xb472C71365eF9ed14226bB0AA4C9a3Fa45EcE510 . The current rate is 1 ETH equals 1000 STISH which is a deal no one should pass up period.
The above 2 ways are going to be your easiest way to buy Stish. You can use the calculator on the Token Event Page to see how much Stish you will receive for X amount of ETH. So if you were to add to the Token Event Page 10 ETH it would populate and show that you would get 10,000 Stish. Of course there are bonuses for large purchases of Stish.
Buying Stish now is one way you can help secure a bright future for the platform tomorrow. Your purchase of Stish will help fund Freedom of Speech for so many who are getting abused on other platforms. The ability to even think about doing something so radical to the social media industry is pretty sweet. Stishit.net and team are taking it beyond a simple thought and making it a reality. Stish is just the beginning of the awesome things we have planned for development in the future. Your support can help take the platform to the next level.
Now with the interaction of the Stish token event with Meta Mask participation just go so much easier. You can easily see how much Stish you will receive and even see progress of this phase of the token event. Be a part of something special and get involved today!