ChangeTip Brings Bitcoin Micropayments to YouTube, Twitter
ChangeTip Brings Bitcoin Micropayments to YouTube, Twitter
Bitcoin’s Huge Surge This Week Could Be The Tip Of The
ChangeTip, One of Bitcoin's Best Known Brands, Couldn't
Nick Sullivan - Founder of ChangeTip - Bitcoin
Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
ChangeTip Bitcoin Give away - Join us on our slack group!
Hello again MM! For those of you who don't know, we at ChangeTip have partnered up with Millionaire makers to promote this excellent Sub! If you wish to receive $0.25 free in USD or Bitcoin please Click here to join our slack group! There are many other like-minded Bitcoin enthusiasts from all walks of life in our group. including celebrities, core programmers for various different sectors in our space. From models to Roger Ver we are a diverse group! Click here to join Edit Please Note our response was massive and we are happy to have so many of you join us! We will be posting a future give away with another invite shortly! Don't forget to type Changetip: Accept once you join the general channel to receive tips!
I figured I'd try to make it a little easier for those who are confused about changetip, or think bitcoin is still some fantasy magic internet money that is a ponzi scheme. For those who are familiar with bitcoin, this is purely an intro to bitcoin for someone to purchase their first $5-$10 worth of coins and not an in depth how-to. First thing you need to do is go to ChangeTip and link your account to reddit. Once you have your account setup, you can go to "My Money" and buy bitcoins right there. Either via coinbase (which would require another account to be made there) or buy direct ACH with your bank account. You can also visit some of the other subreddits and ask/beg for bits or visit the jobsforbitcoins sub and work for bitcoin, or Marketplace and sell something for bitcoin. You DO NOT need to buy an entire bitcoin, you can buy any amount as bitcoin is divisible up to 8 digits (1.00000000) also known as bits. So if you go to changetip, and buy bitcoin via ACH, you can buy $5 worth of bitcoin (which is roughly 15,000 bits or .0150000 btc). You will then have bitcoin in your changetip account to tip others AFTER it clears the ACH from your bank account. This will take a couple of days, as ACH will be delayed due to Christmas and generally takes a couple days anyways. This is the EXACT same thing that paypal does (ACH transfers). Another option, is to sign up with either Coinbase or Circle, and buy instantly with a credit card (or ACH withdrawal). These sites will need the same level of verification (name, address, etc) that PayPal requires, as these sites are bound by US law to verify who you are when dealing with money. With Coinbase, if you verify a credit card, you can buy bitcoin instantly, but they will still ACH your bank account first, and only charge the card, if your ACH is denied by your bank. BE WARNED, buying bitcoin on your credit card, will USUALLY result in a cash advance fee being charged by your card holder. For those worried about security, because you've heard of that bitcoin site that got hacked, or any of the numerous other fraud/theft related reports in the past couple of years. These sites are all in the US, and all bound by US laws. That being said, there is always a chance that a site could be compromised, so ALWAYS verify that you are on https and if possible, ALWAYS turn on two factor authentication. You are linking these websites to your actual bank account (just like you do with paypal) so PLEASE take the same precautions as you do with your bank information. As a comparison as to why this way is better. Paypal will take 30% or more as their fee, and most likely freeze any large amount of transfers while they investigate. All these bitcoin options, take 1% or less as a fee (plus the ACH charge from the bank which is around 30 cents I think).
My business has a Changetip Widget on my Site. Is there anything else I can do? I figure as a DJ I could pop a QR Code out there at events for the heck of it. I'm learning and loving Changetip/Bitcoin/Crypto.
My thoughts on the current hype and potential of changetip/bitcoin. (medium length text)
Hi everyone, I just wanted to write down some hopefully interesing points. I guess most have seen the hype around changetip last week. I think this is a great thing and want to explain why and how the potential can be tapped. (btw, I am not native english speaking and working with a dictionary... so I hope you can understand everything). The first and obvious point about changetip of course is that by writing a single comment you can force somebody to look at bitcoin and draw interest. This is great for bringing bitcoin into a broader audience. But of course for that to happen the tipping needs to happen outside of the bitcoin, or "tech" bubble. And here I want to mention more of a general point. Which goes into the societal impacts. Many of the ways in which bitcoin can back a little "power" back to the user are well known. But I think one aspect is that we also can make journalism a little bit better. Journalism is quite dead online. Only clickbaits, few well-researched articles, it is a shame what one has to read online. But with changetip you can help produce the change you would like to see. Tip good articles (possible for example maybe on twitter). Maybe flattr is known, but it seems not to be succesful in the long run. So an alternative comes up now. I have used flattr, but obviously it does not solve the transaction fee problem. And you cannot tip someone who has not an account. In contrast to changetip where you can tip someone who doesn't even have an account yet. I am not saying, I am spending all my money on tipping at the moment, but I am trying to support some projects. There is a small project called krautreporter (https://krautreporter.de/ ) in Germany where they want to make online journalism not depend on clicks. And I am also thinking about tipping "random" nice people/journalists on twitter. Especially in germany/switzerland since I think bitcoin is running a little bit behind over here. So these are my short thoughts. I have to leave soon, and it would be great if there would be a nice discussion in here on the potential of changetip or the best ways to use it and magnify its impact.
Just saying hi, Names Justin and after much research and hours of reddit review I feel comfortable and excited to say I am now a fellow bitcoiner, after a few more hours and a few hundred more faucet capatchas I'll have my first few cents in my mobile wallet Wish I would of joined the bitcoin community ages ago, but better now then never!
Hello millionairemakers! As many of you worked out, I am currently a student in London. Please forgive my irregular hours and long periods of disconnection! To be able to get away from the looming prospect of finals is incredible. Still completely overwhelmed, so many kind and welcoming messages already. I never imagined following my post that I might actually win, I still get excited every time I receive message from so many kind redditors! Thank you! I'd quickly like to thank everyone who has already donated or sent supportive messages, I will be replying to everyone individually until I pass out at my desk. Also, a massive shoutout to the moderators for managing despite the giant kerfuffle that I caused. I have been humbled by the number of supportive messages that I received and the patience of the community, waiting for the moderators to make the final decision. I will be editing this post with more of my background and plans soon, don't worry! Update 1: Wow, haven't been able to stay off of my phone all day! So many generous donations and kind messages. For those who want to know a bit more about me: I am a final year Geology student based in SW London. I had my final lecture ever today, something made even more surreal by a continuous stream of support and donations! I am still in shock over how much support I am receiving. Still not sure what to do with all the donations, that hasn't stopped them flooding in though! I have a continuous stream of messages in my inbox. I am a keen duathlete/triathlete, hopefully I will be able to put some of the money towards race entry/travel costs. I even recently qualified to represent team GB at the age-group duathlon world championships. I was unsure if I had enough money to go though your support has definitely changed that! I will be posting more updates with running totals and other plans soon! If I don't manage to personally thank everyone, THANK YOU!!!! Update 2: Hi guys, heres an update. I've been training abroad over the weekend (without internet) but i've been really excited to get back, read all of your encouraging comments and continue thanking everyone for their donations (there are a huge number still to do!). Current totals will be posted as soon as I get back from Uni. I have been reading through all of your comments and enjoyed the vast majority of them. Thanks, you're all amazing! At first I thought that I wouldn't be affected by the small number of people who are jumping to illogical conclusions, about who I am and what is going on. However, it's starting to get to me. I can't give everyone the amount of proof that I have given the moderators, all I can do is assure you that I am genuine. As I have said I am a final year student with a large number of commitments and responsibilities. I am not ignoring any of you or ungrateful, however, please understand that the in next month or two I am extremely busy, it is essential that I focus on final exams and graduation. Of course I will make it a priority to keep you updated when I can. I look forward to getting the totals together and updating you as soon as possible. As promised: current totals Changetip Bitcoin - 4.3฿ Paypal GBP - £37.71 USD - $1,304.41 AUS - $13.90 CAD - $65.63 NZL - $2.00 EUR - €38.16 Block.io Bitcoin - 1.41113 ฿ Dogecoin - 300,701.94 Ð Litecoin - 4.968 Ł Total: $2900 and counting Thank you for your generosity! This part is written by the mods: All of the amounts below should result in x9twm receiving about $1 USD Methods of payment: Tipbots
"Inside ChangeTip: A Special Buttcoin Investigative Report," -- All this and more, plus Andy Rooney, Tonight on 6 Blocks
Good Evening, I'm Lesley Stahl. Mike Wallace is out tonight. Notice! If you just want to get to the most interesting part, skip to IV. Shill Bots
In the world of Bitcoin, one startup has taken the community by storm. ChangeTip, a service that allows users to "tip" minute fractions of a cent to one another on online social media, has been rapidly accumulating a rabid, loyal fanbase of people spamming thinly-veiled bot-generated advertisements, in a decidedly clumsy attempt at native advertising. More interestingly, ChangeTip doesn't even actually use Bitcoin -- it maintains a centralized, internal ledger of "who" has "how many bits" and then, when the user is ready to cash out, pockets the ledger-balance of "bits" and delivers dollars to their banking account. At no point in the entire process is a user does a user ever actually have to touch bitcoin, and at no point in the entire process of tipping is any money actually being moved around on the blockchain. Essentially, ChangeTip is a Bitcoin-based startup that in no way utilizes Bitcoin, save for the fanatical frenzy of the community of bagholders.
ChangeTip manipulates the bitcoin bagholders into shilling. These bagholders try to encourage new recruits into the cult by tossing an inconsequential amount of money -- say, $0.0001 (or 1/100th a penny) at a potential recruit. The relationship is mutually beneficial & serves two purposes:
ChangeTip: gets an excuse to post its thinly-veiled native advertisement anywhere on social media (especially reddit)
Bitcoiners: get a way to try to indoctrinate other people into the cult at virtually no expense to them, thus potentially driving up demand and thus the price of a bitcoin (since supply is roughly fixed)
III. Privacy Concerns
Bitcoin is, of course, heralded by renowned sources such as /bitcoin as being an anonymous / pseudonymous way to send "money" to anyone, anywhere, instantly*. ChangeTip, however, requires you to "link" your social media accounts to ChangeTip to function. Essentially, this means that with minimal effort and a few database queries, ChangeTip is able to create an online "fingerprint" of anyone using the service. For example, I could know that TulipCoins is also "Mike Hockhertz" on facebook, and can be found under the twitter handles @JIDF_4_LIFE and @WellsFargoCustomerSupport. Why is this so alarming? Because ChangeTip doesn't actually seem to have any business model. From the time the company began til the present, ChangeTip has generated a whole $0.00 of revenue. There is an appropriate adage to cite here: "If you're not paying for it, you're the product." I will note that ChangeTip suggests that at some point in the future they will start taking a 1% cut of all "tips", however, as we will show later, this is probably a red herring. To compound this problem, ChangeTip also enables users to "link" their banking account, and thus "cash out". As you can imagine, the possibilities are limitless for abuse here -- a single company knowing your entire social media makeup, and your bank account, and thus knowing your true identity as well. Needless to say, it is surprisingly accepted in bitcoin services for a service that connects-the-dots so much as it were given the anonymity/pseudonymity-intense community of bitcoin. "But wait!" I hear you say -- you don't have to cash from from ChangeTip. You can send your money to another wallet and later cash it out at a Bitcoin Exchange. Yes, this is true, but forgetting an important key detail: the company that just invested $3.5 million in & effectively owns ChangeTip ("Pantera Capital") also has invested heavily in 2 of the biggest Bitcoin exchanges -- those being the Slovenian-run BitStamp and US-based Circle. The point is, even if you make the effort to move over to either of these exchanges, you can still be tracked (and rather easily at that). *Yourexperiencesmaydifferbyupto6hrs.Numerousmiddlemanfees&preposterousvolatilitymaywillapply.Drinkthekool-aidresponsibly.
IV. Shill Bots
ChangeTip seems to employ 2 kinds of Shill bots, in addition to their main ChangeTip bot. Important to note, ChangeTip has already been outed for running what I call "Giver" shill bots recently.
"Giver" bot: initiates the following chain of events
"Giver" bot initiates: Hey loofa, Your comment has recived a RANDOM TIP! 100 bits changetip I am a bot, going round Reddit sharing the news and joys of Bitcoin and ChangeTip . If you've never heard of ChangeTip, it's a cool Micro-Tipping service avaliable across a variety of social networks, including Reddit. I do hope you'll accept this tip, and I hope to see you in the /Bitcoin and /ChangeTip communities soon! Happy Tipping!
That's what I got from going through 6 pages of the bots history. I can't even do this anymore, the shilling is just so fucking pathetic & what's even more pathetic is that its pretty goddamned obvious who is running it. Gee, I wonder who has experience writing reddit bots & trying to sneakily advertise their spamware through reddit comments? The bot owner (aka, ChangeTip) apparently deleted all their posts after someone figured out what they were doing (click context on any of the posts in the user history). Fortunately, the idiots behind said bot didn't realize that if you just click "delete" on a comment in a thread, it deletes it from that thread, not from the user account, so we now have a living testament of the sad extents of shillery one very sad company will go.
V. ChangeTip's Balance Sheet
This is what I originally was writing this post about before assuming the whole 60 minutes schpiel. As has recently been pointed out elsewhere in /buttcoin, the founder of ChangeTip Nick Sullivan recently claimed to the New York Times that ChangeTip had transmitted approximately ~$250,000 USD as of February 1, 2015. Numerous users pointed out that this was more than double the previously reported amount (as displayed on their front page) of $90,000 USD. However, for the sake of argument, I am going to make the following assumptions, which are extraordinarily optimistic and represent a "best case" scenario for ChangeTip.
Suppose Nick Sullivan is correct that they have transmitted $250,000 USD (again, actually it's $90,000 USD)
Suppose that ChangeTip has had a 1% fee in place from Day One (actually, they still charge no fee, i.e. 0%)
Suppose that ChangeTip has one employee (actually, they have at least 4 employees)
Suppose that ChangeTip has only been operating for 3 months (actually, its closer to >12 months)
Using the above suppositions, we can deduce the following:
Best Case Total Revenue:
$250,000.00 * (1% fee) = $2,500.00
Best Case Monthly Revenue:
$2,500.00 / (3 Months) = $833.33/mo
Best Case Yearly Revenue:
($833.33/mo) * (12 Months/Year) = $9,999.96/yr
Best Case Employee Salary:
$9,999.96/yr OR $4.81/hr
// Employee Annual Salary ($9,999.96/year) * (100% Yearly Revenue) = ($9,999.96/yr) // Alternative: Employee Hourly Rate ($9,999.96/year) / (52 weeks/year) / (5 days/week) / (8 hours/day) = $4.81/hr // again, this is assuming there is only 1 employee who receives all the money the company brings in over a year
Best Case Employee Salary VS Federal Minimum Wage:
$-5,800/yr OR $-2.44/hr
Federal Minimum Wage = $7.25/hr = $15,800.00/yr ($9,999.96/year) - ($15,800.00/year) = $-5,800.00 ($4.81/hr) - ($7.25/hr) = -$2.44/hr // again, this is assuming there is only 1 employee who receives all the money the company brings in over a year // as you may notice, ChangeTip cannot afford even a single employee being paid the federal minimum wage
At this point, I need to point something out to make it exceptionally clear. We've already used the absolutely-most-positively-exaggerated-and-optimistic figures conceivable to look into ChangeTip's balance sheets and we've found that even using those incredibly one-sided figures, ChangeTip couldn't even possibly pay for a single employee who works for minimum wage. What I wanted to make clear was this: mind you, we're not even taking into account business expenses such as: taxes, office space, infrastructure, marketing, human resources, developers, testers, requirements, customer support, business planners, accounts payable, executives, dividends to shareholders, reinvestment in the company, etc. You know, what a business actually costs to run.
In case you think that this has all been the work of a crazed know-nothing anti-bitcoiner sheep, feel free to peruse the knowledgable pro-Bitcoin(er) position on ChangeTip: http://hackingdistributed.com/2014/12/17/changetip-must-die/ A selection from said great article that was part of the inspiration for this post:
Back to ChangeTip: on its current trajectory, it is not a viable company. I am certain that the people who work for it are well-meaning, reasonable people. But the lack of a revenue stream is an inescapable fact. The math portends an unsustainable cash flow; they will ultimately have to fold or else change their business model. When the music eventually stops, our identities will be up for sale. Even if the company manages to stick to its current avowed business plan until bankruptcy, there is no telling what others will do with the ChangeTip data.
Feel free to double check calculations, but I think it's a pretty safe bet to say that ChangeTip is a gigantic PII-vacuum waiting to explode. I would feel bad for the changetipping bitcoiners, but in all honesty: this is the free market -- this is what they asked for -- this is what they deserve. Maybe the next ChangeTip will want to work on its reputation, amirite guiz? Oh, and where there's credit due, there's credit due -- even /bitcoin seems to somewhat be acknowledging that ChangeTip is an insolvent spam-machine: https://www.reddit.com/Bitcoin/comments/305dco/changetip_statistics_coming_soon/ Please let me know if there are any errors & I'll try to correct them.
tl;dr lol ChangeTip
edit: updated some grammar & redid the bit about shill bots to show the process more fully
I was going to start this with some of my favorites, but I'm having a hell of a time getting Google to find the Reddit posts (I'm getting zero results). So does someone have links to the following 2 posts:
The changetip Bitcoiner who tried to tip someone (in /gaming?) and then unleashed a tirade of "I bet you love sucking Fed cock" when the tip wasn't graciously accepted
The guy who got robbed by the kids in Central America (after saying he'd use the gun ("I'm serious") on a hypothetical rubber hose cryptanalysis.
Not everyone knows about Changetip/Bitcoin, are there any subs I should stick to or should I be out other places.. Most people probably will not ever use their Changetip account after collecting the tip and it will be just sitting there. Meaning less tips for us to share with people who really want it. Opinions?
I am ashamed to show my face, yes I am a 60s, yes I've sat in despair for the last month wondering how I could have done such a thing. I'm willing to buy an un pressed account, I can pay via Changetip/Bitcoin. I'll even just rent an account just so I can press again, when I REALLY mean it. But preferably an account I can keep permanently. My offer will depend on the appeal of the account name solely. I do not care about Kharma, I do not care about account age (other than pre 4/1), I care about making my legacy last as a proud pressing hero, keeping the button alive when it needs it the most. Please do not let the time run out on me, that is something I could never forgive myself for.
hi! i just tried farm satoshi and what i did was i transferred some amount of satoshi to my changetip bitcoin address and it did, however, by the time i went to my changetip account it shows no satoshi credits added. help, please? bug or something? just new to this system. im just a 1 day old bitcoin user. :)
r/bitcoin doubles down on dissent, confirms cult status worse than scientology
with BashCo at the helm being a paid shill for Changetip, bitcoin has lost any credibility it could have possibly hoped for. /bitcoin mods are working overtime deleting anything critical of bitcoin Their cult is worse than scientology
ChangeTip was founded on December 17th, 2013. It gained significant notoriety in November 2014, when tipping small amounts of bitcoin became a viral practice on Reddit and Twitter, causing exponential growth in users and tips. This has caused significant use of bits as a unit of bitcoin. Criticism Terms and Conditions ChangeTip was a micropayment platform built by ChangeCoin, Inc., an American corporation based in San Francisco, California, which specialized in online micropayments using the digital currency bitcoin. Founded in 2013, ChangeTip enabled users of the digital currency to send micropayments across various social media websites, such as Twitter, YouTube, Reddit, and Facebook, as well as e-mail ChangeTip services have been discontinued We're no longer providing tipping services , only the ability to withdraw funds for acounts that have a balance. To withdraw your funds, you may login with any of the following: Bitcoin tipping platform ChangeTip has announced that it is expanding its service to YouTube, Tumblr and Google+. The platform already supports bitcoin micropayments on social media sites like Bitcoin's 2017 rally, which saw the bitcoin price soar from under $1,000 per bitcoin at the beginning of the year to around $20,000 by December, was largely driven by retail investors and so
In this video tutorial we show you how you can use ChangeTip in order to tip people with bitcoin on Youtube! And I show you why I chose to turn a $6 CDN (0.0202 BTC) bitcoin tip into more than seven grams of silver. Subscribe and tune in as I occasionally update on the progress of this investment ... 🔴 Bitcoin and Stocks LIVE : BTC Hit $7000! Triple Witching! 🔴 Ep. 908 Crypto Technical Analysis Mitch Ray 716 watching Live now Bitcoin Tipping Via SMS And Email On ChangeTip Bitcoin tipping continues to be a popular use case for the famous cryptocurrency. With the launch of its new “One Time Tip” feature, ChangeTip is ... Before Uber, Dan built some of the most popular early crypto products including ChangeTip (acquired by AirBnB), and ZeroBlock (acquired by Blockchain.com in the second ever all Bitcoin acquisition).