Forbes: ShareBits.io's Launch Bringing 'Crypto' Technology To Mass-Market

[kuro112]

Tipping will bring in people, but people who are motivated to action over $1 are very very rarely going to be high value customers.

It seems a proportional fee structure with a cap would be better.  2 parameters into the system.

could you elaborate on your idea a bit more? i hadn't considered scaling fees

[gamey]

Tipping will bring in people, but people who are motivated to action over $1 are very very rarely going to be high value customers.

It seems a proportional fee structure with a cap would be better.  2 parameters into the system.

[kuro112]

It might be just me, but a tip below 2 USD is ether an insult (in real world) or an advertising for the tipping service (I crypto)...not a real tip.

Yes it's definitely just you The social media tipping and donating space is well established and the average and definitely the median are much lower than that. (The median is as low as 3 cents, but obviously that's offchain.)

http://www.coindesk.com/social-tipping-tool-meme-dogecoin-445k/

The team behind dogetipbot, the popular tipping tool for the alternative digital currency dogecoin, has raised nearly $500,000 in a seed funding round.

“One of the things we’re really looking at is the user experience," Mohland said. "A lot of our traction initially was on Reddit, but we’re seeing a lot of demand on Twitter. So, what we’re working is our user experience, making it seamless.”

With a median tip of around 3 cents, dogetipbot is as much about the social experience of tipping as it is a rail for small payments.

Still the amount of tips you'd need to accumulate to cover the BTS transaction fee (as a basic member) makes it not very suited to the social tipping and donating market at the moment.

oh yeah we very much agree with you bro, we are doing our best to work out a fee-mitigation method that works for everyone, but in the end it will probably come down to the BTS network fee its self needing to be changed to ultimately support micros transactions like this.

'needing' is not the right word. BTS does not need to change its fee structure to accommodate a business bring what? 10K/year at its potential top to BTS?

well i meant need in the context that it will be required to change to support small transactions, but idk about 10k a year its probably got more potential than that ^^

[tonyk]

It might be just me, but a tip below 2 USD is ether an insult (in real world) or an advertising for the tipping service (I crypto)...not a real tip.

Yes it's definitely just you The social media tipping and donating space is well established and the average and definitely the median are much lower than that. (The median is as low as 3 cents, but obviously that's offchain.)

http://www.coindesk.com/social-tipping-tool-meme-dogecoin-445k/

The team behind dogetipbot, the popular tipping tool for the alternative digital currency dogecoin, has raised nearly $500,000 in a seed funding round.

“One of the things we’re really looking at is the user experience," Mohland said. "A lot of our traction initially was on Reddit, but we’re seeing a lot of demand on Twitter. So, what we’re working is our user experience, making it seamless.”

With a median tip of around 3 cents, dogetipbot is as much about the social experience of tipping as it is a rail for small payments.

Still the amount of tips you'd need to accumulate to cover the BTS transaction fee (as a basic member) makes it not very suited to the social tipping and donating market at the moment.

oh yeah we very much agree with you bro, we are doing our best to work out a fee-mitigation method that works for everyone, but in the end it will probably come down to the BTS network fee its self needing to be changed to ultimately support micros transactions like this.

'needing' is not the right word. BTS does not need to change its fee structure to accommodate a business bring what? 10K/year at its potential top to BTS?

[kuro112]

It might be just me, but a tip below 2 USD is ether an insult (in real world) or an advertising for the tipping service (I crypto)...not a real tip.

Yes it's definitely just you The social media tipping and donating space is well established and the average and definitely the median are much lower than that. (The median is as low as 3 cents, but obviously that's offchain.)

http://www.coindesk.com/social-tipping-tool-meme-dogecoin-445k/

The team behind dogetipbot, the popular tipping tool for the alternative digital currency dogecoin, has raised nearly $500,000 in a seed funding round.

“One of the things we’re really looking at is the user experience," Mohland said. "A lot of our traction initially was on Reddit, but we’re seeing a lot of demand on Twitter. So, what we’re working is our user experience, making it seamless.”

With a median tip of around 3 cents, dogetipbot is as much about the social experience of tipping as it is a rail for small payments.

Still the amount of tips you'd need to accumulate to cover the BTS transaction fee (as a basic member) makes it not very suited to the social tipping and donating market at the moment.

oh yeah we very much agree with you bro, we are doing our best to work out a fee-mitigation method that works for everyone, but in the end it will probably come down to the BTS network fee its self needing to be changed to ultimately support micro transactions like this.

[lovejoy]

AWESOME!!!  Even to the casual observer This should reveal the beginnings of truly epic developments in the space.  Referrals ahoy!

Bravo to all who have coordinated to bring this about!

[Empirical1.2]

It might be just me, but a tip below 2 USD is ether an insult (in real world) or an advertising for the tipping service (I crypto)...not a real tip.

Yes it's definitely just you The social media tipping and donating space is well established and the average and definitely the median are much lower than that. (The median is as low as 3 cents, but obviously that's offchain.)

http://www.coindesk.com/social-tipping-tool-meme-dogecoin-445k/

The team behind dogetipbot, the popular tipping tool for the alternative digital currency dogecoin, has raised nearly $500,000 in a seed funding round.

“One of the things we’re really looking at is the user experience," Mohland said. "A lot of our traction initially was on Reddit, but we’re seeing a lot of demand on Twitter. So, what we’re working is our user experience, making it seamless.”

With a median tip of around 3 cents, dogetipbot is as much about the social experience of tipping as it is a rail for small payments.

Still the amount of tips you'd need to accumulate to cover the BTS transaction fee (as a basic member) makes it not very suited to the social tipping and donating market at the moment.

[Empirical1.2]

Have a heart - Social tipping ShareBits.io makes real-time donations “a walk in the park”!

When you tip are required to pay the standard BTS transfer fee?
Also presumably to claim it, the receiver would have to pay the standard BTS transfer fee at least once to send it to an exchange?

both correct, however the account is a lifetime account, the network fee is still charged, but the fees paid by the user on claim are distributed to share holders as dividens.

I think it's a good initiative Social tipping really helped Dogecoin gain a great deal of traction.

Business Question

The market leaders appear to be Dogecointip & Changtip.

The average Doge tip size appears to be <$0.3. https://dogetipbot.com/
(You can see real time reddit tip sizes here for example -  https://www.reddit.com/user/dogetipbot )

There is also Changetip. Their 'Tipworthy service' seems to suggest $0.25 as the standard tip.  https://www.changetip.com/

How does ShareBits.io hope to compete when round trip fees are higher than the average size of social tips?

Wouldn't the transfer fees need to be considerably lower to help spread BTS via social media sharing, tipping & donating?

thats a great question, currently we believe this platform will be powerful in markets other than the primary 'tipping' industry, we aim it at money remittance and crowdfunding and therefore the average tip size of those services to not necessarily affect our business model - that being said your mostly correct, the round trip fees are somewhat high and we are working with the bitshares community in hope of having the fees reduced in various ways, for example an IOA asset with the fee pool payed, also the bitshares primary client may see reduced fees soon, allowing a service like ours to succeed with no real changes.

tldr:

if some one is tipping that low your correct for now, but our business model should not see tips or shares that low.

we are working on ways to lower the fees and will keep the community updated.

The person you tip, donate to or share with probably will be new basic user and will have to pay the standard transfer fee to claim/send their funds to an exchange, no?

fees will be shared betwene the sender (required to send it to us) and the person who claims the tip (tx fee to withdrawal to their wallet)

however fees can be avoided completely by never withdrawing and using the coins within our system.

Thanks for the reply. That makes sense that you will attempt to be more involved in money remittance an crowdfunding than competing in the social media tipping & donation market at this stage. (I hope you are able to find a fee solution that makes you a little more competitive in this area, as I think it has a lot of potential.)

Good luck

[tonyk]

Have a heart - Social tipping ShareBits.io makes real-time donations “a walk in the park”!

When you tip are required to pay the standard BTS transfer fee?
Also presumably to claim it, the receiver would have to pay the standard BTS transfer fee at least once to send it to an exchange?

both correct, however the account is a lifetime account, the network fee is still charged, but the fees paid by the user on claim are distributed to share holders as dividens.

I think it's a good initiative Social tipping really helped Dogecoin gain a great deal of traction.

Business Question

The market leaders appear to be Dogecointip & Changtip.

The average Doge tip size appears to be <$0.3. https://dogetipbot.com/
(You can see real time reddit tip sizes here for example -  https://www.reddit.com/user/dogetipbot )

There is also Changetip. Their 'Tipworthy service' seems to suggest $0.25 as the standard tip.  https://www.changetip.com/

How does ShareBits.io hope to compete when round trip fees are higher than the average size of social tips?

Wouldn't the transfer fees need to be considerably lower to help spread BTS via social media sharing, tipping & donating?

It is $0.0275 fee... for god sake...for everyone concerned enough for BTS to invest at least $60 bucks....

The person you tip, donate to, or share with, probably will be new basic user, and will have to pay the standard transfer fee to claim/send their funds to an exchange, no?

It might be just me, but a tip below 2 USD is ether an insult (in real world) or an advertising for the tipping service (in crypto)...not a real tip.

PS
And yes, I consider each and every "tip" send on this forum, up to now ,a pure spam and blunt advertisement and nothing else.

[kuro112]

Have a heart - Social tipping ShareBits.io makes real-time donations “a walk in the park”!

When you tip are required to pay the standard BTS transfer fee?
Also presumably to claim it, the receiver would have to pay the standard BTS transfer fee at least once to send it to an exchange?

both correct, however the account is a lifetime account, the network fee is still charged, but the fees paid by the user on claim are distributed to share holders as dividens.

I think it's a good initiative Social tipping really helped Dogecoin gain a great deal of traction.

Business Question

The market leaders appear to be Dogecointip & Changtip.

The average Doge tip size appears to be <$0.3. https://dogetipbot.com/
(You can see real time reddit tip sizes here for example -  https://www.reddit.com/user/dogetipbot )

There is also Changetip. Their 'Tipworthy service' seems to suggest $0.25 as the standard tip.  https://www.changetip.com/

How does ShareBits.io hope to compete when round trip fees are higher than the average size of social tips?

Wouldn't the transfer fees need to be considerably lower to help spread BTS via social media sharing, tipping & donating?

thats a great question, currently we believe this platform will be powerful in markets other than the primary 'tipping' industry, we aim it at money remittance and crowdfunding and therefore the average tip size of those services to not necessarily affect our business model - that being said your mostly correct, the round trip fees are somewhat high and we are working with the bitshares community in hope of having the fees reduced in various ways, for example an IOA asset with the fee pool payed, also the bitshares primary client may see reduced fees soon, allowing a service like ours to succeed with no real changes.

tldr:

if some one is tipping that low your correct for now, but our business model should not see tips or shares that low.

we are working on ways to lower the fees and will keep the community updated.

The person you tip, donate to or share with probably will be new basic user and will have to pay the standard transfer fee to claim/send their funds to an exchange, no?

fees will be shared betwene the sender (required to send it to us) and the person who claims the tip (tx fee to withdrawal to their wallet)

however fees can be avoided completely by never withdrawing and using the coins within our system.

[Empirical1.2]

Have a heart - Social tipping ShareBits.io makes real-time donations “a walk in the park”!

When you tip are required to pay the standard BTS transfer fee?
Also presumably to claim it, the receiver would have to pay the standard BTS transfer fee at least once to send it to an exchange?

both correct, however the account is a lifetime account, the network fee is still charged, but the fees paid by the user on claim are distributed to share holders as dividens.

I think it's a good initiative Social tipping really helped Dogecoin gain a great deal of traction.

Business Question

The market leaders appear to be Dogecointip & Changtip.

The average Doge tip size appears to be <$0.3. https://dogetipbot.com/
(You can see real time reddit tip sizes here for example -  https://www.reddit.com/user/dogetipbot )

There is also Changetip. Their 'Tipworthy service' seems to suggest $0.25 as the standard tip.  https://www.changetip.com/

How does ShareBits.io hope to compete when round trip fees are higher than the average size of social tips?

Wouldn't the transfer fees need to be considerably lower to help spread BTS via social media sharing, tipping & donating?

It is $0.0275 fee... for god sake...for everyone concerned enough for BTS to invest at least $60 bucks....

The person you tip, donate to, or share with, probably will be new basic user, and will have to pay the standard transfer fee to claim/send their funds to an exchange, no?

[tonyk]

Have a heart - Social tipping ShareBits.io makes real-time donations “a walk in the park”!

When you tip are required to pay the standard BTS transfer fee?
Also presumably to claim it, the receiver would have to pay the standard BTS transfer fee at least once to send it to an exchange?

both correct, however the account is a lifetime account, the network fee is still charged, but the fees paid by the user on claim are distributed to share holders as dividens.

I think it's a good initiative Social tipping really helped Dogecoin gain a great deal of traction.

Business Question

The market leaders appear to be Dogecointip & Changtip.

The average Doge tip size appears to be <$0.3. https://dogetipbot.com/
(You can see real time reddit tip sizes here for example -  https://www.reddit.com/user/dogetipbot )

There is also Changetip. Their 'Tipworthy service' seems to suggest $0.25 as the standard tip.  https://www.changetip.com/

How does ShareBits.io hope to compete when round trip fees are higher than the average size of social tips?

Wouldn't the transfer fees need to be considerably lower to help spread BTS via social media sharing, tipping & donating?

It is $0.0275 fee... for god sake...for everyone concerned enough for BTS to invest at least $60 bucks....

[Empirical1.2]

Have a heart - Social tipping ShareBits.io makes real-time donations “a walk in the park”!

When you tip are required to pay the standard BTS transfer fee?
Also presumably to claim it, the receiver would have to pay the standard BTS transfer fee at least once to send it to an exchange?

both correct, however the account is a lifetime account, the network fee is still charged, but the fees paid by the user on claim are distributed to share holders as dividens.

I think it's a good initiative Social tipping really helped Dogecoin gain a great deal of traction.

Business Question

The market leaders appear to be Dogecointip & Changtip who both processes the tips off-chain I believe.

The average Doge tip size appears to be <$0.3. https://dogetipbot.com/
(You can see real time reddit tip sizes here for example -  https://www.reddit.com/user/dogetipbot )

There is also Changetip. Their 'Tipworthy service' seems to suggest $0.25 as the standard tip.  https://www.changetip.com/

How does ShareBits.io hope to compete when round trip fees are higher than the average size of social tips?

Wouldn't the transfer fees need to be considerably lower to help spread BTS via social media sharing, tipping & donating?

[carpet ride]

Have a heart - Social tipping ShareBits.io makes real-time donations “a walk in the park”!

When you tip are required to pay the standard BTS transfer fee?
Also presumably to claim it, the receiver would have to pay the standard BTS transfer fee at least once to send it to an exchange?

both correct, however the account is a lifetime account, the network fee is still charged, but the fees paid by the user on claim are distributed to share holders as dividens.

who gets the referral credit?

[kuro112]

Have a heart - Social tipping ShareBits.io makes real-time donations “a walk in the park”!

When you tip are required to pay the standard BTS transfer fee?
Also presumably to claim it, the receiver would have to pay the standard BTS transfer fee at least once to send it to an exchange?

both correct, however the account is a lifetime account, the network fee is still charged, but the fees paid by the user on claim are distributed to share holders as dividens.