; A Method Of Earning Bitcoin Cash With Web Traffic

robert_lefebvrerobert_lefebvre Posts: 1
edited September 2018 in Project Development

I started working on this even before I got involved with Bitcoin. It is a way for website operators to earn income from their web traffic. It has the potential to bring LONG and short-term revenue to bloggers, video producers, musicians, artists, etc. It also is a way for small businesses learn, earn and experience crypto and a way for them to recoup some of their own advertising expenses and efforts by reselling (sic. recycling) their web traffic in exchange for Bitcoin Cash.

Internet advertising involves websites at both ends (at both the buyer end and the seller end). That rare feature of the product enabled the creation of this advertising system as a hybrid of link exchanges (i.e. swaps and barter based), a peer-to-peer distributed Yellow Pages style web directory, an ad networks style bidding and pricing system, and a crypto currency payment systems into what can best be described as a Multi-Stakeholder Cooperative Ad Network Trust.

Among its features,

  • it offers a way to monetize web traffic for Bitcoin Cash
  • provides a business related product (web traffic/advertising) for merchants to purchase with Bitcoin Cash they accepted for their products or services
  • it offers merchants a way to offer a new product line (sic. web advertising), learn and earn Bitcoin Cash at zero costs or risks
  • it offers a "Blue Ocean" startup and entrepreneurial opportunity to any/all website operators in a poorly served (but well established) ad network industry
  • is a "Bitcoin Cash" only payment system
  • has a unique bidding and accounting system that uses a fun and intriguing game theory approach to handle the wide price fluctuations of crypto
  • it has a member-to-member exchange to enable new customers to acquire Bitcoin Cash backed advertising tokens using a smart contract/escrow software
  • offers an innovative approach towards openness in smart contracts by incorporating a wiki into the smart contract concept. Rather than "the contract is in the code', we say "the contract is in the wiki". If the code doesn't live up to the wiki, the developers are called to account
  • Uses a 'Massachusetts Business Trust' as the business structure rather than a corporation. Trusts operate under Common Law (rather than statutory), are formed without permission of the state, are NOT fictional entities, and are formed for the benefit of beneficiaries (the website operators in our case). The beneficiaries have a type of title or ownership stake so, effectively, the system converts web traffic into an asset class.

The original system had been started with the typical payment mechanisms (i.e. Pay Pal). When Bitcoin was discovered it was converted to a Bitcoin-only system. That decision obviously limited the potential customer base but the this company's ethos, strategic philosophy and future direction lined up so well with Bitcoin's that committing the company to Bitcoin was chosen as the best long-term route. To address the small crypto-user-base issue a "member-only" crypto-backed purchase and exchange system was developed to make it easy for customers to acquire the "ad credits" to advertise on the crypto-only platform.

Another problematic issue encountered (besides the limited crypto user base) was the Bitcoin scaling issue. The uncertainty required waiting for stabilization. That changed with the fork and $50 transaction fees, "hodling" and and other issues associated with Bitcoin Core and, so, it became obvious the solution was a change to Bitcoin Cash.

Another problematic issues included a poor installation rate of the proprietary Manna Network software. The ability of the Network's members to sell web traffic (sic. advertising) hinges on the Network's ability to acquire web traffic into its inventory. The business model incorporates a "sales funnel" starting with the offer of free advertising and progressing into a competitive "bidding" for better placement. It then attempts to capitalize on the unique characteristic that customers operate web sites and can, therefore, install the scripting and contribute (sic. invest) web traffic. Getting "customers" to install the software (and thus become "members") is crucial to the success of the Network. To address this problem we are building the "Enterprise Level".

The project is currently at the "rebranding" stage to mostly correct that last problem by enabling an "Enterprise level" strategic partnership level aimed at web professional in direct contact with web site operators (i.e. professionals such as web developers, designers, SEO, hosting, web advertising etc). Not only can these assist potential members with installation, the arrangement can enable their customers to earn crypto with their websites and, thus, build customer loyalty and common goals between the site owner and professional.

The enterprise level will be released on Github excepting and reserving a small central part of the system that maintains the pricing and bidding. Those pricing and bidding operations are what determine the placement of the ads across the entire network (and it is the placement of an ad across the whole network that incentivizes buyers to bid and pay more for better placement) thus that portion needs to be centralized at least for a season.

I've been the sole developer of the project so far. There have been the issues mentioned that have kept me remaining cautious, but the legal structure formation (i.e. the Massachusetts Business Trust ) was also problematic. A recent consultation with an attorney specializing in crypto startups was encouraging enough on that front for me to start to seriously consider the formation of a team. I would welcome the formation of an advisory team and looking forward to contributions from attorneys, accountants (particularly tax), and junior web software developers. But since crypto (Bitcoin Cash) is only used as the payment system, there currently is not much need for crypto-currency specific development (but there may be the possibility of that in the future).

Once the trust agreements are drafted and the current software is transferred to the trust, then it can be opened up to registration and membership. The business model will likely include some understanding that the web traffic of members is contributed as the working capital of the trust. This can also be described as "crowd sourcing" using web traffic as "money". The earnings of the members are indirectly connected to the amount of their web traffic by reason that they get to offer the network's traffic (i'e' they function as agents for the Network) and earn commissions on their sales. Thus, sites with more traffic should, in general, achieve higher sales than sites with lower traffic. Conceptually, it might be likened to the mining operations in crypto and it could be said it is like mining Bitcoin Cash with web traffic (or, more specifically, like earning Bitcoin Cash with web traffic).

The project (including the wiki/white paper) can be seen at

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