Bitlanders, as the name suggests, is a social networking site just like tsu, which compensates users for their activity, using bitcoins as the main currency determining the earnings.
Initially, when I joined bitlanders some months ago, the market price for the bitcoin was $340 dollars each, and thus the users could be able to receive instant bitlanders payment of $10 for 0.039 bitcoins earned, or $25 dollars for 0.1 through the paypal; which was not very hard to earn, for those who understand the game well.
This is not the case anymore, not that bitlanders reduced the earning rate, but because the market value of the bitcoins dropped against the dollar and other major currencies, and yet the CPA (cost per action) remained the same with using bitlanders.
If you have been closely monitoring the performance of the popular cryptocurrencies in the digital market world, then it is not news to note that bitcoins value has been on the downtrend for the last couples of months and right now, its value against the US Dollar is ranging from $212 to $240 dollars each, and the market seems to be very volatile sometimes.
It is not long ago when everyone was chasing to invest in bitcoins, the high demand for the cryptocurrency had made the price per bitcoin to skyrocket to over 350 dollars per piece.
With the high exchange rate against the dollar, the individuals with a large stock of the cryptocurrency seem to have made a killing in massive profits as they sold off the bitcoins to dollars. Now that the demand for the bitcoins has gone down, the value also went down in relation to the supply level which seems to be high (just as it could be expected with any product sales ubder the control of demand and supply market forces)
This is a very big blow, not only to the users of bitlanders but also to those who are the users on other sites that offer bitcoins as the only means of payment. I hope the uptrend in the value of the bitcoins resumes soon and the bitlanderns will be the happy lot as before.
In the meanwhile, I will be focusing more of my efforts on blogging and internet affiliate marketing, for it now requires the bitlander user to have the minimum of 0.55 BTC to receive $10 dollars through paypal. Otherwise one has to take the 0.025 to his bitcoin wallet, which will be subjected to an exchange fee during conversion to US dollars, especially through cryptsy, which happens to be the most reliable exchange market for any type of crypto-currency.