PLAYBOOK: Calculate your TRUE earnings-per-click on a crypto offer

Heard a buyer scaled an offer for weeks on a vanity number and lost money. Compute the real one:
—
Use confirmed-and-PAID conversions only. Pending FTDs that get scrubbed at payout aren't EPC, they're hope.
—
Factor the hold period into your cash-flow math. A high EPC you collect in 60 days isn't the same as one you collect weekly.
—
Subtract refund/scrub rate — pull last month's confirmed-vs-paid gap and bake it in.
—
Segment EPC by geo and source. The blended number hides the loser dragging your winner.
—
Compare net-EPC-after-payout-delay against your cost of capital if you're scaling on borrowed budget.
Reportedly the buyers who track paid-EPC, not reported-EPC, are the ones still profitable at scale. Watch this.