Bitcoin Cash-Fueled Blogging Website Read.cash Raises Over $100K for Collective Initiative

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A few months ago news.Bitcoin.com reported on the web portal read.cash, a blogging website fueled by bitcoin cash that rewards users in crypto for producing content. Just recently, read.cash initiated a fund that aims to provide the blog’s regular users with more paid upvotes by raising funds through a “collective initiative.” On June 25, read.cash revealed that the fund has raised over $100,000 so far.

There’s a web portal called read.cash that allows people to fund content creators with bitcoin cash (BCH) payments. News.Bitcoin.com reported on the project months ago, as the project has gathered a great number of users. On January 29, 2020, close to $6k in bitcoin cash tips were paid to read.cash authors in 24 hours.

Two months ago, the author who runs the web portal, Read.Cash, announced the launch of a fund that aims to bolster the blogging site’s incentives.

“Let me tell you about one little experiment that we’re working on. A lot of new authors on read.cash complain that it’s pretty hard to get a paid upvote. And that’s true. We want to try to change that situation,” he wrote. The read.cash owner further stated:

To support our users we created what we call “the read.cash fund” — It’s not a fund in the traditional sense, but rather a collective initiative where each participant agrees to pay read.cash authors some amount daily. The fund exists only in the browsers of donors (we are not holding donors money, their browsers do). Since they always control their money, they can cancel their pledge at any time. Which also means that the payments are done only when donors come online.

The fund initially had raised $3,658 in BCH, and on June 25, 2020, the read.cash owner announced that the fund surpassed $100k thanks to one donor. “Our most generous donor Marc DeMesel has decided to increase his pledge to the read.cash fund to a total of $97,000 thereby getting our fund to $100,000,” the read.cash admin stated.

The donation from DeMesel gives the read.cash fund a total of $100,658 to-date, according to the post’s author. Since the launch of read.cash, the blogging platform has changed it’s look and has added a number of new features as well.

Signing up for read.cash is fairly intuitive and takes only a few minutes to get started. All a person has to do is register, accept the welcome message, and obtain the 12-word seed phrase for the read.cash native bitcoin cash wallet.

One read.cash author was extremely pleased with DeMesel’s donation and the rest of the Bitcoin Cash community members who donated to the fund.

“I consider these funds as a small bonus for my crypto blogging efforts. Which might grow as the quality and the readership of my content grows. As it becomes more readable and useful,” the author Cryptotexty wrote.

“Read.cash [is] and interesting system when the fund distributes points every day, so not only you can get direct monetary upvotes to your articles, but also some funds for reading, commenting, etc., which are distributed on daily basis,” the author concluded.

What do you think about the read.cash fund? Let us know what you think in the comments section below.

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