Looking for a new way to make money? Quora is now paying people for their answers

Thanks you very much. I have seen this quora's link. Very good. I really appreciate it.

Since the Knowledge Prize concept is still in beta, I'm a little hesitant to even comment on the concept.

But here's my early reaction:

1. Quora's Knowledge Prize is not going to be a great way to make a lot of money . . . you might earn a little bit here and there . . . but not a full time income (if that's what you're thinking).

On Quora's blog they state:

"We hope that prizes will attract experts who are motivated more by their desire to publicly share their insights than by the potential of financial reward -- and indeed with many answers competing for a prize, only one will win.

That tells me that this isn't designed to be a money-maker. You could spend a lot of time coming up with a great answer, only to find that you don't win the one cash prize.

2. Quora's system seems to be that the sponsor of the prize will be the one that pays the prize money and also chooses the winner (which will be the answer that sponsor deems best for the money given.) Here's what Quora says:

"While we are not charging a fee for sponsoring prizes right now, eventually we would expect to do so to help fund the development of Quora."

This "pay for a question to be answered" concept is not new - there are lots of examples of this being done already.

3. So while you could make a little bit of cash if you have good knowledge in niches that contain prize money ("technology" is the only niche currently that has any money attached), my guess is this will be a pretty hit and miss money maker.

I think, if you are knowledgeable and a good writer, you time would be better spent on your own writing business instead of Quora's stated goal which is to build up Quora.

Just my opinion,

Steve