Introducing RIF Mining:
You can now "mine" RIF Cash! I know what you're thinking... How do you "mine" RIF Cash?
Just about everything you were doing before is now considered "mining". Users will no longer earn RIF Cash when posting on the forums. Instead, creating threads and posting replies will get you what's now called "Raw RIF". Now, before the panic sets in, this new Raw RIF can then be transferred to your RIF Cash balance at a 1:1 ratio. So, if you have $5 of Raw RIF, you then transfer it to your RIF Cash balance at $5. *There is no minimum limit to what you can transfer to RIF Cash. You can then spend or withdraw it as you normally would. So everything you are doing before will still earn you money. However, it will be mined into Raw RIF instead of it going directly into your RIF Cash balance.
Things to consider:
- You can transfer Raw RIF into RIF Cash, but you can't transfer RIF Cash into Raw RIF
- Raw RIF will have the $1.05 daily limit applied
- RIF Cash will no longer have any limitations.
- The only person that sees your Raw RIF balance is you. People only see what you have in your RIF Cash balance.
The big question is why we decided to introduce this? Well, that leads me too...
Member Trading
Members of the forums can now officially trade amongst themselves without having to message an admin of the forum. This is the biggest reason of the introduction of Raw RIF. Having a daily limit set on the RIF Cash was the main bottleneck of not allowing users to trade RIF Cash with each other.
However, be mindful that there is now a 2% tax when sending RIF Cash to other members. The receiving member will be the one paying the tax.
So, for an example, I send Devin $5 RIF Cash. He will get the $5 minus the 2% tax. So what he will get in his balance is $4.90.
Users who have a Premium Membership, and members of our staff team do not get taxed.
Daily RIF Cash Earned
As some of you may have already seen, you will now be able to see where you are at with your daily limit of earning RIF Cash. This was a custom development that we commissioned to make it easier for our members to track how much they have left before hitting their daily limit.
Daily limits do not reset at a set time every day/night. Instead, this is a rolling event. Your daily limit is maxed out based on what you have done in the previous 24 hours total.
New & Improved RIF.Cash Page
I know the introduction of a new currency into the forums are going to complicate things and make things a little confusing at first. So that is why I have introduced a new improved RIF Cash section that includes an F.A.Q.! This F.A.Q. will be updated in the coming days to include a lot more information.
Amazon Gift Cards
We have updated the "Amazon Gift Cards" cashout option to be inline with the Paypal and Bitcoin withdrawal options. It will no longer be found in the shop section. If you are interested in getting Amazon Gift cards as a form of payments, please head on over to the withdraw section and add it as a wallet.
Minor tweaks to the system:
- Forum Games no longer earns currency. This was a decision that I had to weigh the pros and cons. At the end of the day, in order to even make $1 by posting in forum games, you need to post 1,000 messages. So it could be seen as not even worth it anyways. This opens us up to create other fun stuff instead such as the Long Game!
Special shout out to @Joshua Farrell for coming up with the new currency name, and for writing out the initial new RIF Cash page.
You can now "mine" RIF Cash! I know what you're thinking... How do you "mine" RIF Cash?
Just about everything you were doing before is now considered "mining". Users will no longer earn RIF Cash when posting on the forums. Instead, creating threads and posting replies will get you what's now called "Raw RIF". Now, before the panic sets in, this new Raw RIF can then be transferred to your RIF Cash balance at a 1:1 ratio. So, if you have $5 of Raw RIF, you then transfer it to your RIF Cash balance at $5. *There is no minimum limit to what you can transfer to RIF Cash. You can then spend or withdraw it as you normally would. So everything you are doing before will still earn you money. However, it will be mined into Raw RIF instead of it going directly into your RIF Cash balance.
Things to consider:
- You can transfer Raw RIF into RIF Cash, but you can't transfer RIF Cash into Raw RIF
- Raw RIF will have the $1.05 daily limit applied
- RIF Cash will no longer have any limitations.
- The only person that sees your Raw RIF balance is you. People only see what you have in your RIF Cash balance.
The big question is why we decided to introduce this? Well, that leads me too...
Member Trading
Members of the forums can now officially trade amongst themselves without having to message an admin of the forum. This is the biggest reason of the introduction of Raw RIF. Having a daily limit set on the RIF Cash was the main bottleneck of not allowing users to trade RIF Cash with each other.
However, be mindful that there is now a 2% tax when sending RIF Cash to other members. The receiving member will be the one paying the tax.
So, for an example, I send Devin $5 RIF Cash. He will get the $5 minus the 2% tax. So what he will get in his balance is $4.90.
Users who have a Premium Membership, and members of our staff team do not get taxed.
Daily RIF Cash Earned
As some of you may have already seen, you will now be able to see where you are at with your daily limit of earning RIF Cash. This was a custom development that we commissioned to make it easier for our members to track how much they have left before hitting their daily limit.
Daily limits do not reset at a set time every day/night. Instead, this is a rolling event. Your daily limit is maxed out based on what you have done in the previous 24 hours total.
New & Improved RIF.Cash Page
I know the introduction of a new currency into the forums are going to complicate things and make things a little confusing at first. So that is why I have introduced a new improved RIF Cash section that includes an F.A.Q.! This F.A.Q. will be updated in the coming days to include a lot more information.
Amazon Gift Cards
We have updated the "Amazon Gift Cards" cashout option to be inline with the Paypal and Bitcoin withdrawal options. It will no longer be found in the shop section. If you are interested in getting Amazon Gift cards as a form of payments, please head on over to the withdraw section and add it as a wallet.
Minor tweaks to the system:
- Forum Games no longer earns currency. This was a decision that I had to weigh the pros and cons. At the end of the day, in order to even make $1 by posting in forum games, you need to post 1,000 messages. So it could be seen as not even worth it anyways. This opens us up to create other fun stuff instead such as the Long Game!
Special shout out to @Joshua Farrell for coming up with the new currency name, and for writing out the initial new RIF Cash page.
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