Avoiding Lemon Users Part 2 (Breaking Down REP ) #MindsGaming
Not long ago I wrote a blog titled avoiding lemon users the main purpose of the blog was to raise a little hell about where the reputation system on Minds was and how it really works, as the rep system is not well documented and scores are not public many don’t even know that it exits on the network.
If you are wondering where your reputation is, you can go to your contributions page you will find your score and your network score displayed. Here we are going to cover why the current reputation system is perfectly fitted to the Minds network & what it means to creators of content and sellers of product.
Network Score -
This in my view is the score that needs to be made public and accounted for as far as we can tell your network score is the total amount of activity before any math is done.
Your Score -
This is your score after each activity has been calculated. You can view the breakdown by clicking the date of the contribution.
Now these scores rely on a large amount of interactions,all that are important in a social atmosphere, expressly one ran on ERC-20 tokens.
Now we understand what an ERC-20 token is, we have to know what kind of ERC-20 token Minds has made, and what they have made “is a utility token (ERC20) built on the distributed ethereum infrastructure...it is an extremely different use case than ethereum and bitcoin. the decentralization comes from the peer to peer transactions on minds. the reward system is centralized and something we created to reward people for contributions to the network and drive the economics of the token. we are not trying to be bitcoin or ethereum, we are trying to create a salable token that works for a social network”
So in other words they have made a token worth something on a social network in this case views. Now this means a few things for you the user, one is that the token has no official worth outside the Minds network but you can trade it (I would recommend using a trusted exchange). Two is that you can not make product sales on Minds, only social sales. In other words you cant really sell physical products but can sell your social content via a content lock for Minds Tokens.
“Social Market”
The only type of market place Minds can be per the token is a social market place and if this is what you are going to call it, very well this market place is broken down into categories, although not currently active you can get ready by setting them at the bottom of your settings.
Example of market place use;
Lock blog for X tokens, select category for blog at bottom before publish, boost to category.
Debunking -
In short no product market place can exist with the current system as the current system is built so your content is your product, and you make tokens from said content, you can lock exclusives and special content for high prices and market your content by category in blogs (and boost coming down the road) and your network score or your score should and needs to be public so you know your unlocking great content ( your product) and transparency in the channel rankings.
What it means for creators.
This is great for content creators you can post and make tokens (or views) for future posts growing your base and content itself, you can also have a paid service or “plus service” for your content.
What it means for sellers.
It means you need content, to grow your channel and use this content to gain tokens (or views) to promote your sales sites, businesses and more.