In December 2020 a new microblogging site called noise.cash hit the scene and has quickly exploded in popularity. People have flooded to the site to earn small amounts of Bitcoin cash for their posts. And a lot of users report earning on average $1 a day, some even claiming $3 if they're particularly active. Which for something requiring relatively low effort is incredible.
But how does a site with no ad revenue afford to seemingly give all this money away? Well simply put they can't, in its current form the site is not sustainable. Which raises the question... why do it?
(Source: https://noise.cash/post/120rpqx1)
The Marc in the above post refers to the "Crypto-trader" Marc De Mesel, who has single handedly funded the tip system on noise.cash. Which I suspect reveals the true purpose of noise.cash.
Call me cynical but nobody spends $3,000 a day unless they expect to see an even bigger return, especially a trader. So what's the play?
Hypothetically if someone was to own a vast quantity of Bitcoin cash, it would obviously be in their interest for the price to increase. And what better way to ensure that by funding a site that not only brings huge exposure to your coin of choice, but also increasing its activity dramatically.
"Last 24 hours there were 132,515 transactions on Bitcoin Cash network. Out of these, 96,038 (72%) were created by users tipping each other on noise.cash" Source: https://noise.cash/post/1jx55mj1
Well would you look at that.
Is it working? Well it's difficult to tell. Noise.cash began making noise on December 24th, and while Bitcoin cash has increased in value since noise.cash's creation, the price increase could also be explained by BTCs recent ATH.
At this point if BCH was to make gains independent of BTC I would give noise.cash and sister site read.cash 100% credit for doing so.
During my time on the site I saw people contemplating selling their entire portfolio to replace with BCH and fanatical support for the coin. There is even a "Club1BCH" a club dedicated to obtaining, you guessed it, 1.0 BCH, and they even have T-shirts.
The fate of noise.cash
Eventually the tip fund will dry up and in its current layout that would be the end of noise.cash. Although the admin team has added QR code tipping, so that users can tip each other from their own wallets I highly doubt anyone would dip into their own pockets.
This also gives the site, and by extension Marc, another opportunity. If they know exactly when the free tip fund runs out and the site grinds to a halt, they also know exactly when to short BCH.
Personally, I'm holding BCH but looking to sell at the first high. I don't know what their long term plan for BCH is, but like I said before, I'm a cynic.