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Tip any song or musician with Bitcoin

saycheers.co

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11–20 of 46 posts

Re: Tip any song or musician with Bitcoin

#11

Post by jwomers »

MisterWalter wrote: post #10

My main concern is that I don't see how they get any money out of it. Normally I'm fine with free services, for obvious reasons, but it strikes me as concerning that this requires quite a bit of work and money, both over the long term, but they have no visible payoff. The only way I see it being viable in the long term is if they take our money. I'd like to see this as a % fee of some sort but I worry that it is eith…

Hi, thanks for posting your concerns, and I understand where you're coming from. Our visible payoff is creating a social network around payments - and while we will never charge fees on tips, there are many other services we can introduce to generate revenue. One example is later on allowing creators to actually sell their content on our network (to their fans) or having premium artist accounts to help them manage, engage and grow their fanbase. Other than this, can you think of any other ways we can convince you (and others) that we are not a scam?

Re: Tip any song or musician with Bitcoin

#12

Post by simondlr »

jwomers wrote: post #11
MisterWalter wrote: post #10

My main concern is that I don't see how they get any money out of it. Normally I'm fine with free services, for obvious reasons, but it strikes me as concerning that this requires quite a bit of work and money, both over the long term, but they have no visible payoff. The only way I see it being viable in the long term is if they take our money. I'd like to see this as a % fee of some sort but I worry that it is eith…

Hi, thanks for posting your concerns, and I understand where you're coming from. Our visible payoff is creating a social network around payments - and while we will never charge fees on tips, there are many other services we can introduce to generate revenue. One example is later on allowing creators to actually sell their content on our network (to their fans) or having premium artist accounts to help them manage, e…

Co-founder here. To add.

We also have to look at a future where an artist like Justin Bieber could put up a BTC address on his Twitter profile. Taking a cut means the artist has a small reason to not want to sign up ("they take 1%-2%. I'm better off just sticking a BTC address on my Facebook").

Re: Tip any song or musician with Bitcoin

#14

Post by jwomers »

shmerl wrote: post #13

I like the idea! How do you reach the artists if they don't have their own bitcoin wallets?

We'll reach out to the artists and sign them up the Cheers - they will then be able to receive their tips in Bitcoin (recommended, and we'll help them set up a wallet) or fiat (slower, more complicated, minimum thresholds etc.). The exact process is still to be worked out.

Re: Tip any song or musician with Bitcoin

#15

Post by shmerl »

jwomers wrote: post #14
shmerl wrote: post #13

I like the idea! How do you reach the artists if they don't have their own bitcoin wallets?

We'll reach out to the artists and sign them up the Cheers - they will then be able to receive their tips in Bitcoin (recommended, and we'll help them set up a wallet) or fiat (slower, more complicated, minimum thresholds etc.). The exact process is still to be worked out.

I think you should expand this to more creative works besides music. Books, video, gaming, visual art, whatever.

Re: Tip any song or musician with Bitcoin

#16

Post by jwomers »

shmerl wrote: post #15
jwomers wrote: post #14

Earlier quoted context omitted.

We'll reach out to the artists and sign them up the Cheers - they will then be able to receive their tips in Bitcoin (recommended, and we'll help them set up a wallet) or fiat (slower, more complicated, minimum thresholds etc.). The exact process is still to be worked out.

I think you should expand this to more creative works besides music. Books, video, gaming, visual art, whatever.

Yes, this is on our roadmap, and forms the core of our mission. To allow people to tip and reward creators of any kind, anywhere in the world!

Re: Tip any song or musician with Bitcoin

#17

Post by [deleted] »

shmerl wrote: post #15
jwomers wrote: post #14

Earlier quoted context omitted.

We'll reach out to the artists and sign them up the Cheers - they will then be able to receive their tips in Bitcoin (recommended, and we'll help them set up a wallet) or fiat (slower, more complicated, minimum thresholds etc.). The exact process is still to be worked out.

I think you should expand this to more creative works besides music. Books, video, gaming, visual art, whatever.

[deleted]

Re: Tip any song or musician with Bitcoin

#18

Post by LukeB_UK »

jwomers wrote: post #9
LukeB_UK wrote: post #8

If you don't take any fee from the tip, how does your product intend to make money? Just curious.

Good question. For now we're just trying to make a product that both fans and artists are excited about and will use - a product we'd want to use. And since our initial product is tipping, we're committed to never taking a fee on these transactions. In the future, we may build-out a premium artist account, allowing them to get analytics around what is being Cheered, and built a platform for them to engage with and gr…

Thanks for the insight! Always cool to see others product ideas and their approaches. Hope it works out for you!

Re: Tip any song or musician with Bitcoin

#19

Post by sferoze »

This is really amazing. I hope your service receives a lot of success.

One problem is that many people don't have bitcoin even if it is the best way to pay. Many people are uncomfortable buying bitcoins.

Amazon micropayment service lets you pay with credit card transaction anywhere from $0.05 to $9.99 with a 5% + .05 cent transaction fee. Which isn't as good as bitcoin but it is still pretty good as far as credit card fees go.

https://payments.amazon.com/help/Amazon-Flexible-Payments-Se...

Many small micro-payments can really add up. This can be huge for content creators. I would really like to give tips to people who create educational science videos, open source software, open source hardware, write detailed tutorials for hardware and software projects, take the time to help me on forums, etc. Many content creators on the internet have helped me. I might not want to give a lot to each but I can give a small tip. Which can still make a difference to the creator if many people also do the same.

I think if they charged a fee for the tip it would be a more standard business model and people would not find it as exciting. It seems more direct to customer this way without the man in the middle dilemma for content creators. Also charging a fee in addition to the transaction fee would make it increasingly difficult to tip the creator a small amount. I think the fact they don't charge a fee on top of the transaction fee is out of necessity.

Re: Tip any song or musician with Bitcoin

#20

Post by jwomers »

sferoze wrote: post #19

This is really amazing. I hope your service receives a lot of success. One problem is that many people don't have bitcoin even if it is the best way to pay. Many people are uncomfortable buying bitcoins. Amazon micropayment service lets you pay with credit card transaction anywhere from $0.05 to $9.99 with a 5% + .05 cent transaction fee. Which isn't as good as bitcoin but it is still pretty good as far as credit car…

Hi, thanks for the feedback! We agree that for now Bitcoins constrict us to a relatively small community - which is why we will be supporting credit cards in the near future! (And thanks for the link to Amazon micropayments +1!)

We plan to launch with only Bitcoins, and shortly thereafter add on credit card payments to go more mainstream.

Our mission is to enable anyone to tip any creator anywhere in the world - so educational content and others are definitely included in this! Music is just the starting point.

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