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Contest Reward/Credit system


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NewsMaster
11/9/2003 2:46:12 PM


Status: Commander in Chief
Contest Reward/Credit system

We are changing to a new reward/credit system:

1) ALL entries will continue to be FREE.

2) Credits will be redeemable for real cash at the end of every month
and on the first week of the next month will be paid to member's paypal account, once a request for payment is made. (you will need to email us with a request for payment providing your paypal email to be paid to. At the end of every month we will announce conversion rate of Credits to Dollars.
Current conversion rate is
100 credits = $5
As the site grows and we get more advertising income, we will try to increase the rate, but it will never go below $5 per 100 credits rate.

Those who can not use paypal will be paid by wire transfers (and will receive the instructions on what info they need to provide me for it, once they make a request for payment), but because of the wire fees you would have to accumulate at least $50 worth of credits if you want to be paid by wire.

3) Those who purchased credits up till now, will be paid back, I will email them about it.

4) The first payments will be made in the first week of December (for the month of November), and credits earned up to now count too.

Overall I hope you support the new system. While $5 for winning the contest is not high amount, entering all contests is free, and as the site grows we will increase the payment rates.

Your feedback in kindly appreciated.

Newsy

This comment was edited by NewsMaster at 11/19/2003 2:20:25 PM.
Comments: 99153
Contest Entries: 14
Out of my mind. Back in five minutes.
Indigodingo
Republicans
11/9/2003 3:31:03 PM


Status: Director of the CIA
So are you saying that all entries are free indefinitely and we can win 100 credits=$5 for placing 1st? Then at the first week of every month we can redeem the winnings for the cash? This sounds too good to be true! This is incredible!

Do we have to redeem the credits every month or can we let them accrue over several months or longer?

Have you gone insane?

I support this as I'm sure you know what you're doing. Good luck and a big THANK YOU NewsMaster!
Comments: 1970
Contest Entries: 186
I support whatever's trendy!

Hipnoart
Democrats
11/9/2003 3:43:36 PM


Status: Secretary of State

On 11/9/2003 3:31:03 PM, Indigodingo said:
So are you saying that all entries are free indefinitely and we can win 100 credits=$5 for placing 1st? Then at the first week of every month we can redeem the winnings for the cash? This sounds too good to be true! This is incredible!

Do we have to redeem the credits every month or can we let them accrue over several months or longer?

Have you gone insane?

I support this as I'm sure you know what you're doing. Good luck and a big THANK YOU NewsMaster!



Another great Idea would be not to redeem your credits at the end of each month and instead donate them to fellow FNer like me
Great format and idea Newsman!! Now to the CHOPPING!!!!
oh and I suppose the question is when is the official launch?

Comments: 2081
Contest Entries: 102
There will be no PeAcE until we have Equal Rights and Justice - Peter Tosh

Axiom
Independents
11/9/2003 4:08:47 PM


Status: Burger Flipper
That's a really great idea! Unfortunately I dont have a paypal account nor do i have anyplace that you can wire money to. In the future will there be money orders (with the cost of the money order removed from the amount recieved)?
Comments: 10
Contest Entries: 1
Vote Nader.

NewsMaster
Independents
11/9/2003 4:17:27 PM


Status: Commander in Chief
You don't have to redeem every month, just when you want to, that's why I said that payments will only be made "upon your request".

I can probably do money orders, should not be a problem, but $50 minumum balance will apply before MO request can be made (due to more complicated process with MO transactions).

The first payments will be made in the first week of December, and credits earned up to now count too.

[Edited by User on 11/9/2003 4:18:52 PM]
Comments: 99153
Contest Entries: 14
Out of my mind. Back in five minutes.

MaestroCalhoun
Independents
11/9/2003 6:04:01 PM


Status: Student Council
This sounds fantastic to me, I don't see a downside. I approve.
Comments: 31
Contest Entries: 41
I feel naked without my _

Xxxxxpp
Independents
11/9/2003 6:50:29 PM


Status: Swing Voter
question, where will you find all that money? It seems like a big amount that has to be paid every month. Will you gezt that much advertisers.
Personaly i love thez idea, you find millions of sites on the net only trying to makemoney, and your giving it away. wow, where can i get a live subscribtion to FN?
Comments: 1487
Contest Entries: 69
You're just jealous because the voices only talk to me.

NewsMaster
Independents
11/9/2003 7:06:53 PM


Status: Commander in Chief

On 11/9/2003 6:50:29 PM, ... xxpp said:
question, where will you find all that money? It seems like a big amount that has to be paid every month. Will you gezt that much advertisers.
Personaly i love thez idea, you find millions of sites on the net only trying to makemoney, and your giving it away. wow, where can i get a live subscribtion to FN?



We will get money from advertising. I will start putting some "related links" on the site soon which will dynamically pull sponsor listings for the specific related keywords. I have some good partnerships with other companies, so that should not be a problem. Even if for some time, we make less money than spend, I figured I would rather pay FN members and give initiative to submit more images rather than spend the same money on advertising FN with other sites. It does not mean that I will completely stop promoting FN on other sites though (e.g. links on W1K to us will stay for a long while).

[Edited by User on 11/9/2003 7:08:00 PM]
Comments: 99153
Contest Entries: 14
Out of my mind. Back in five minutes.

janine200
Independents
11/9/2003 7:19:00 PM


Status: Burger Flipper
Sounds like a great idea! Nice thing to run into on my first day over here
Comments: 1
Contest Entries: 0
Welcome to the political party, keg's over there

Hipnoart
Democrats
11/9/2003 7:44:23 PM


Status: Secretary of State

On 11/9/2003 7:19:00 PM, janine200 said:
Sounds like a great idea! Nice thing to run into on my first day over here



Well Janine if it´s your first day here WELCOME
And you´re right it´s great news to bump into on the first visit ! Hope to see plenty of your images!

¡Damn, another Indy!
Comments: 2081
Contest Entries: 102
There will be no PeAcE until we have Equal Rights and Justice - Peter Tosh

makri
Democrats
11/9/2003 9:22:29 PM


Status: City Council Representative
Sounds good, now I only need 23,619 wins and my house is paid!

Now when the $ icon in the stats indicates a credit win, isn't that a bit redundant as it's already implied in the gold trophy? Just thinking.
Comments: 572
Contest Entries: 57
Politics need more cowbell

Hipnoart
Democrats
11/9/2003 9:39:05 PM


Status: Secretary of State
The way I see it the $ sign will probably disappear once you have received the Booty, so the Trophy stays but the $ doesn´t so you can keep tabs. Am I right Newsy??
Comments: 2081
Contest Entries: 102
There will be no PeAcE until we have Equal Rights and Justice - Peter Tosh

TampaDan
Independents
11/9/2003 9:45:10 PM


Status: Wal Mart Greeter

On 11/9/2003 2:46:12 PM, NewsMaster said:
We are changing to a new reward/credit system:

1) ALL entries will continue to be FREE.
2) Credits will be redeemable for real cash at the end of every month.
100 credits = $5
As the site grows and we get more advertising income, we will try to increase the rate, but it will never go below $5 per 100 credits rate.
Your feedback in kindly appreciated.
Newsy



Sweet

Comments: 32
Contest Entries: 15
Don't laugh...I'm new here.

NewsMaster
Independents
11/9/2003 9:47:01 PM


Status: Commander in Chief

On 11/9/2003 9:39:05 PM, Hipnoart said:
The way I see it the $ sign will probably disappear once you have received the Booty, so the Trophy stays but the $ doesn´t so you can keep tabs. Am I right Newsy??



Hmmm, I'm not sure. I thought it should stay as it will help new users understand how the system works. Also, I think we may want to do some special contests with zero jackpot - e.g. "freehand contest" we talked about. Need to think about it.

[Edited by User on 11/9/2003 9:48:58 PM]
Comments: 99153
Contest Entries: 14
Out of my mind. Back in five minutes.

makri
Democrats
11/9/2003 9:55:00 PM


Status: City Council Representative
The freehand contests could just have medals (or different trophies) like at worth. The credits could be shown as real money, like "Hi makri . You have $5.50".

Or it could be Canadian Tire money.
http://campkidston.hypermart.net/images/pic_canadiantiremoney.jpg


Comments: 572
Contest Entries: 57
Politics need more cowbell

Tiddlycove
Independents
11/10/2003 12:13:03 AM


Status: Jimbo Rocks
This is great, Newsy. I'm going to have to learn how to photoshop

And as Makri suggests, if you want to pay out in Canadian Tire money, that suits me fine. They pretty much own my car.
Comments: 641
Contest Entries: 77
In theory, there is no difference between theory and practice. But in practice, there is.

makri
Democrats
11/10/2003 12:31:54 AM


Status: City Council Representative
How about making the cash conversion karma based; 110 credits is $9.63 for a 175 karma user and $1.1 for someone with 20 karma.
Comments: 572
Contest Entries: 57
Politics need more cowbell

NewsMaster
Independents
11/10/2003 1:32:09 AM


Status: Commander in Chief

On 11/10/2003 12:31:54 AM, makri said:
How about making the cash conversion karma based; 110 credits is $9.63 for a 175 karma user and $1.1 for someone with 20 karma.



This will make things extra complicated when it comes to payment + I think is not too fair. Let's start from simple model and see how it goes. We can always complicate it later.

I made a dollar amount shown next to the credit amount on top of the page as you suggested. Not sure if we should remove the $ sign yet. I think it may help many users understand the system better.
Comments: 99153
Contest Entries: 14
Out of my mind. Back in five minutes.

RealMeert
Independents
11/10/2003 10:21:01 AM


Status: President

On 11/10/2003 12:31:54 AM, makri said:
How about making the cash conversion karma based; 110 credits is $9.63 for a 175 karma user and $1.1 for someone with 20 karma.



The way you vote has nothing to do with your entry. If you create a good entry, people will vote accordingly.

Votes by people with low karma will have less impact on other peoples entries, so if they continue to vote low to try and get their own entry up, it will not work.
Comments: 2123
Contest Entries: 189
Spelling inspected prior to submission. Any errors occured en route.

Hipnoart
Democrats
11/10/2003 10:40:17 AM


Status: Secretary of State
So will will bidding be inactive then since the entries are free there will be no need for sponsors or will there be something related to biding?
Comments: 2081
Contest Entries: 102
There will be no PeAcE until we have Equal Rights and Justice - Peter Tosh

makri
Democrats
11/10/2003 11:19:05 AM


Status: City Council Representative
I'm aware how karma works and why it's implemented, but since we are throwing ideas around... As an idea, there's no harm in rewarding fair voting and encouraging users with low karma to get their stats back up again. At Worth low karma users rarely get sponsored and that's something we don't have.

Conversion multiplier probably isn't the best way to do that, it wasn't awfully serious suggestion to begin with. Karma related stuff isn't really even an issue yet as we're mostly Worth veterans who know how stuff works.

Popularity and user base will most likely change in the near future though.

[Edited by User on 11/10/2003 11:22:04 AM]
Comments: 572
Contest Entries: 57
Politics need more cowbell

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