Reading at ReadBud and I realized something ...
By bloggeroo
@bloggeroo (2167)
Philippines
May 20, 2010 11:21pm CST
Assuming an average of just 5 cents per article rated and just 1,000 members at ReadBud, a 5-cent article will cost $50 to rate or quality check. And where is this article suppose to be published? The New York Times? I don't think so. The highest rating I gave any article is just 2. And that is because the articles seem ordinary to me and requires more improvement.
Who is going to pay for the cost of the reviewers? The writer? From a look at the articles, the writers seem to be lacking in technique and may not be earning enough to pay for proofreaders and reviewers. In fact, I have seen better work published in magazines.
So now, I'm thinking: Do I seriously believe ReadBud has a business model that will allow them to earn big bucks and share them with us? Hmm. I'm getting skeptical.
P.S. There is a flaw in my logic, of course. I'm assuming one article will be read by 1,000 members or so. It may also be possible that there are 10+ times as many articles as there are members. So essentially, one member gets to rate several unique article. (This, of course, can easily be verified by conducting a poll of the articles read by known ReadBud members.)
Hmm. 
1 person likes this
10 responses
@zralte (4178)
• India
21 May 10
Good point. I started to question that. But I am still continuing just so I have a proof either way. If they pay, great for all the members, if not, then they don't have to continue wasting their time.
The other point I would like to point out is that I noticed that some articles are given to me twice for rating. I don't know if you've noticed that or not. Two or three of the articles are same one that I have rated before. I could be wrong, may be they are just similar, or re-worked.
@bloggeroo (2167)
• Philippines
21 May 10
Well, if you get to rate an article twice, it will cost them more. Anyway, I'll take a look. I usually copy and save the better ones for my files so if it's true, then that is another red flag for ReadBud.
1 person likes this
@bloggeroo (2167)
• Philippines
21 May 10
Okay. It makes sense. Then, at least in theory, ReadBux has the money to pay the members. Of course, it's another matter for ReadBux to decide when to make the payment due.
Anyway, I'll be tinkering with the site and see what other secrets it may have.
@consultrainer (4991)
• India
21 May 10
wonderful. MY congratulations to you. FOR finding out to reverse engineer the INCOME and EXPENSES of READBUD. ... but, if you are able to make out the payout, and then, .. you will have to restructure your formula..
even if they don't pay... all the articles, atleast the 20 odd that i AM able to read at that readbud site.. are VERY GOOD QUALITY.
SO, .. better start enjoying what you read. and, let us wait for time to declare about the site being Scam OR if your analysis has indeed some FLAW! 
THANKS for the effort. YOU will make a great webmaster
THANKS for the effort. YOU will make a great webmaster@bloggeroo (2167)
• Philippines
21 May 10
I'm still starting so I have to ask some serious questions now before I commit myself for another 160 days. Of course, the 160-day estimate to payout is based on the assumption of steady income per day. But I already know, the last $10 is going to be one slow ride as others have been reporting so far.
So, to read or not to read. That is the question.
1 person likes this
@consultrainer (4991)
• India
21 May 10
again, 100% CORRECT. you have analysed correctly. and, most of the early birds there are telling us about their experience on the last 10 dollars.
but, .. chose your interests correctly. and save the articles. YOU can READ them at leisure, and use them appropriately. who will ask you, if the site becomes obsolete? at some time later... so, better save the husk, when you are not sure of the grains.
1 person likes this
@bloggeroo (2167)
• Philippines
21 May 10
Actually, I'm already doing that. I'm saving articles I like so I can rewrite them later for my blogs. So right now, I'm not really concerned about getting paid just yet. I can still consider this ReadBud thing as some kind of RSS feed that brings me interesting articles to read.
@mysdianait (66009)
• Italy
21 May 10
There is some very interesting information on this discussion which you may or may not be aware of.
You might like to contribute too.
http://www.mylot.com/w/discussions/2298981.aspx
1 person likes this
@mysdianait (66009)
• Italy
21 May 10
Even when I don't 'wander in' I have probably seen all the discussions that are available. There are so many now. Months of reading and doubts and still no-one has been paid. I find this intriguing 
. You just can't resist Readbud, can you??? I wish there are more websites like readbud. @zralte (4178)
• India
21 May 10
You really are the devil. I read the discussion you recommended. It's really putting me off now. I was all...let me check it out myself and see for myself whatever it might be. Now, knowing that they are stealing articles from someone else.......grrr....and double
You are making this wayyy too hard for me. I should stop it on the moral ground, but then, I want to have a solid proof so that I can tell everyone. Some people would think nothing of the stolen articles and still go for the money. If I have a proof that they don't pay, that would surely put everyone off.
I haven't seen any word yet about someone who doesn't get paid. 
You are making this wayyy too hard for me. I should stop it on the moral ground, but then, I want to have a solid proof so that I can tell everyone. Some people would think nothing of the stolen articles and still go for the money. If I have a proof that they don't pay, that would surely put everyone off.
I haven't seen any word yet about someone who doesn't get paid. 2 people like this
@ybong007 (6643)
• Philippines
21 May 10
I am skeptical about readbud because for some reasons i think that what they're offering is too good to be true. A lot of those who earn online often claim that if a site promises something that's too good to be true it probably is that's why i stopped rating articles there. I can't say that it's a scam because no one seems to have reached the minimum payout and was not paid. The payment proof found in internet seems bogus as well. So i wish that readbud will prove to be a legit site and pays everyone when that happens then i'll resume ratings articles.
1 person likes this
@bloggeroo (2167)
• Philippines
21 May 10
I get a feeling that the part where the reader rates the article is a red herring. An aspiring writer may want his/her writing rated, but to actually pay for it seems desperate.
Anyway, it's probably better to wait until somebody here at myLot does get paid.
1 person likes this
@umit_umit (1984)
• India
21 May 10
Hmm,well friend your calculation is correct!i think this site is going to be a scam!its not a legit one i guess!what to do will you continue with it??
@bloggeroo (2167)
• Philippines
22 May 10
I'm not too keen on the ReadBud idea anymore. Anyway, I only have a small amount in my balance so it's easy for me to just walk away. There are other alternatives I'm considering which may be more related to what I'm doing everyday on the internet.
Since I posted this, there have been a couple of more discussions started about ReadBud. It seems members are finally noticing difficulties with the site and its business model.
@umabharti (3972)
• India
21 May 10
hi,You have good knowledge for finding out and assuming about readbud.The articles are giving knowledge .I am a member and i already made 32 so hope for the best.Now many are having hopes on that site becox it is only site which pays 50 and also the cents are not one or less.Articles are well written.Wrting an article is not done by everyone.Only some people can write .
1 person likes this
@mjanakha (479)
• United Arab Emirates
21 May 10
Even Iam also using readbud. I dont know whether it is a legit site or not. If they pay its nice otherwise they have given some informations through their aricles. Let that knowledge be a profit from readbud. All will wait to see a post "I have been paid by readbud" or "readbud is scam"
1 person likes this
@penrockerchic (1903)
• Philippines
22 May 10
I don't want to assume but I think it's a scam. My friend referred me to this site and I was a little bit skeptic about it. I've done a little bit of math too and browsed on reviews of this site. Most of them get stuck to a certain amount of earnings where they can no longer reach the payout. The good thing about this site though is you get to read articles for your own improvement as a writer or blogger.
