Friday, January 07, 2022

Of Using A Cryptocurrency

 One of the changes I made last year was moving to the Brave Browser.

I believe I had used Ghostery's version before then (and no complaints there inherently; I still use their browser on my cell phone).  I despise anything Microsoft with the heat of a 1000 suns (if it is not on the work computer, I do not use it) and Google - outside of this particular platform that they have purchased - is not something I would countenance.

Beyond the usual promises by Brave - no tracking, anonymity, etc. etc. - was the fact that they pay you to read their advertisements.

(To be clear, I am not an InterWeb or Computer fellow and I am sure that many smart people would tell me not to use this - or any other - browser except perhaps something like Tor.  Acknowledged that all browsers carry some risk; I do have a VPN in place which I believe to be helpful [beyond the VPN which Brave says they have].  Also - personal opinion - Tor feels klugy and slow to me when I use it.)

Their ads are paid out in (you guessed it) a cryptocurrency, in this case called "BAT" (Basic Attention Token).  You get a notification in your lower window about different things, click through, and a fractional amount of BAT is added to your account.  Once a month, they "pay out" into an account.

The ads themselves run the gamut from cryptocurrency companies (no surprise there) to insurance to loans to products advertised on Amazon - maybe not first line sorts of companies, but certainly a bit more reputable and perhaps less fly by night than some of the things I see on Duolingo (to be fair, I do not suppose I care what the companies are, only that they pay).

I know what you are thinking:  more made up money.  What can you do with a BAT, other than watch it fly around and catch mosquitoes (Thank you folks, I am here until Thursday.  Tip your servers well...)?  

As it turns out, you can turn it into books.

They have some kind of arrangement with a network that offers gift cards.  So for the first time in December, I took my BAT and bought a $25.00 gift card for The Borg, which I immediately turned into books.

A couple of firsts are involved there.  It was the first time I have actually used crypto to "buy" something.  And it was the first time I had converted crypto to an actual physical thing.

Now to be fair, clicking ads on a browser are not going to make one fabulous wealthy.  And the fact is that it is crypto, which makes it very susceptible to the fluctuations of the market.  Since I exercised my first purchase, I have had the same amount of crypto in my "wallet" for the last 3 weeks.  Over that time, it has gone from almost enough to buy another gift card to not nearly enough to buy one (which is aggravating in the extreme when one has book that one is ready to purchase but is waiting for that gift card to buy it...).

But fact is I was going to be on the InterWeb anyway.  And if I am there, whatever browser I am on is going to want me to view ads.  No problem with me getting paid to view them than being a forced captive to do so.

And frankly, being able to buy a new book is a pretty good way to get my attention.

12 comments:

  1. All said and done, I have yet to grasp this crypto thing.

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    1. Haddock, to be 200% honest with you, I do as well. That said, I grasp the very basic of concepts which is that it functions like any other currency: scarcity, agreement between parties as an exchange of value, and use. It has, in my mind, the great limitation that it is 100% based on a technological world and - if the lights go off - it means nothing. If you look in the Archives for 13 November 2021, you will find I did a retrospective one year later. On the whole, I "made" money, although I have (and continue to plan to) invest very little. I really like the concept of non-governmentally issued and controlled currency, but do not think the concept is there yet.

      That said, money for book purchases is always welcomed.

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  2. Good for you TB.

    As for me… I am happier without the ads buts that’s just me…

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    1. Fair Glen! And usually I am not a fan of ads - but most everywhere seems to want to throw them at me. This way, in some small sense, I can at least choose. Which is really the point, from my point of view. I get a choice. Also, free books.

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  3. Wow, turn it into books! That's a wonderful idea. I tried that feature with Brave awhile back, but none of the ads were relevant to me and even the discreet pop-ups became annoying. So I quit it. Now you've got me rethinking that. Books!

    One thing I like about Brave, is that there is the option to open a link in a private window with Tor. I use it for almost all unknown links I'm checking out. Granted, it's much slower, and some sites balk and refuse to open, but it's definitely a safer option.

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    1. Leigh - If you go within the options page, you can control how many ads you see (up to 10 an hour). I assume they throttle these so as to not have to pay out more often).

      It is a slow process. You have get a certain about of BAT - may 25 - before you can open a wallet. Then after you open a wallet, you can buy a gift card. So it took about a year for this to be real. But money not coming out of my pocket at this point seems worth the inconvenience.

      On the whole I am very happy with Brave. The inconveniences are minor and it has all the functionality of other browsers, including a private mode as well as the Tor option. I have not used the TOR option to date, but should probably experiment with it.

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  4. Ditto Glen's comment. I remain on Chrome because I can rid myself of all the ads and concentrate on the blogs I enjoy reading.

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    1. Fair Ed. I have issues with Chrome based on the parent company. In theory I can turn off the ads any time I want.

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  5. I use Brave, too. I click on the ads. I supposedly have the Bat stuff; but I won't make the "wallet" "real", so I have no way to access it.
    Good for you getting real books, TB. :)
    You all be safe, God bless and have a wonderful weekend.

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    1. You probably are earning it Linda - If not, you can click on the triangle in the header and see your status.

      Creating a wallet was fairly simple, no worse than opening a bank account.

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  6. I commend your logic and you can't argue with the fact you got books you didn't have to pay for out of your pocket -- not your "real" one anyway. I'm a curmedgeonly banker and lawyer, so naturally skeptical about cryptocurrency (and was fully loaded when I saw your title!) but, again, you can't argue with results.

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    1. Bob, I have a lot of issues with cryptocurrency although I like the concept. Fortunately or not fortunately for me, I am neither clever nor devious enough to get into trouble and other than a very small amount of money almost a year ago, have invested nothing it in.

      Like any Cryptocurrency, BAT fluctuates somewhat wildly so I cannot predict when I can convert to a $25 gift card. It appears on average that I can "earn" 3 BAT or so. Bat runs about $1.00 a token, so it will take something like 8 months to earn a gift card. I am not getting rich by a long shot, but any money I am not paying for books gets my interest for sure.

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