Use of Bitcoin tipping software ChangeTip is exploding on Twitter, YouTube and Reddit as social networkers are now constantly tipping posts and comments they like.
What is ChangeTip?
ChangeTip provides a wallet and community oriented software for people who like to give back.
Users who feel they may wish to tip content creators can simply add the affix @persontheywouldliketotip followed by the amount they wish to tip, followed by @changetip. Changetip will then hold an amount of Bitcoin which can only be collected by the person mentioned in the tipping post. The platform makes it very easy for users to tip online content creators compared to traditional methods.
Current platforms supported by ChangeTip are Google Plus, Facebook, GitHub, Twitter, Reddit, Tumblr and Youtube. The company charges no fees to send tips but they are considering adding a 1% fee to withdraw from a ChangeTip wallet.
Users can even state ‘a beer’ instead of a numerical value in order to send an amount equivalent to a beer. These predetermined amount phrases known as monikers are quite numerous. For example, ‘a beer’ is worth $3.50, ‘breakfast’ is worth $10, ‘veggieburger’ is worth $6 and ‘martini’ is worth $9. The most prestigious moniker is ‘birthday cake’ which comes in at a whopping $25. To add to the fun ChangeTip users can create their own monikers and set an appropriate amount, such as ‘trip to Paris’ or ‘gas money’.
The potential to send Bitcoin viral
Some commentators have suggested that ChangeTip’s viral explosion could have the knock on effect of making Bitcoin itself go viral because it offers the potential for mainstream exposure that has eluded cryptocurrency so far. Pages upon pages of social networking sites are covered with comments offering tips even when the pages themselves have nothing to do with cryptocurrency. This is likely to make users investigate the phenomenon. If they themselves are offered tips they will naturally create a ChangeTip wallet in order to collect their tips and then learn more about Bitcoin and cryptocurrency. This effect could do more for cryptocurrency exposure than making specialized videos and articles could.
A reward method for content creators
ChangeTip may also solve the problem of how to reward content creators in a world of freely available content. There are many great artists, writers and producers online who are left badly off financially due to downloads of their work. For example, illegal downloads of music can be absorbed by huge record labels, but for the small time bedroom artist they are very damaging. Even if the artist doesn’t mind their work being downloaded, which many don’t, the lack of financial support and the simple fact that they have bills to pay can force them to give up. Yet it has been shown that people are often likely to be very generous to content creators if only they are given an easy method of doing so and ChangeTip is the easiest method yet.
The program will also certainly benefit the Bitcoin economy by giving Bitcoiners something to spend their coins on. If that is not enough then fostering a culture of generosity on the internet alone is well worth commending. Hopefully ChangeTip will become the success it is expected to be. If ChangeTip can capture more momentum we will likely see some exciting and far reaching knock on effects from this service.