Idea(s) using Bitcoin

[TheFrenchLeprechaun]

Hey there!


Some time ago, I discovered Bitcoin. This instantely looked like an amazing tool to me. But, in my opinion, real and innovative applications are yet to think. I open this thread in order to discuss/develop idea(s) about it and related to the Hive. In case you don't know what is Bitcoin here is a quick explanation :

Spoiler: About Bitcoin

"Bitcoin is a cryptocurrency and a payment system invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto. Bitcoin was introduced on 31 October 2008 to a cryptography mailing list, and released as open-source software in 2009. The identity of Nakamoto remains unknown, though many have claimed to know it. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain, which uses bitcoin as its unit of account. Since the system works without a central repository or single administrator, the U.S. Treasury categorizes bitcoin as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed, and it is more correctly described as the first decentralized digital currency. Bitcoin is the largest of its kind in terms of total market value."

Bitcoin has several interesting features :

• quick (about 10/15 minutes) and low-taxed payments/transfers
  
• handiness of Bitcoin wallets ("bank account" for Bitcoin)
  
• currency adapted to the digital world
• possibility to earn free Bitcoins

With all that in mind, I'm beginning to think that it could be a great tool to develop/improve the Hive reputation system. One reputation point often seems to be a too small reward depending on the given/received help (complex request, supporting a project, etc...). More concretely, it would be possible to use the referral commissions of some free Bitcoins websites. For example, with freebitco.in you will earn 50% of free bitcoins earned by users that signed up thanks to you.

Spoiler: My referral link

So let's imagine you want to support a project or reward someone for his precious help. This method could enable to "give" around 5$ per year without doing anything (considering you wanted to use a such website anyway). The same way you gather reputation points, you could gather fractions of bitcoins (today 1 Bitcoin = 993$). Finally, you could invest those fractions of bitcoin in your project, donating for the Hive, rewarding other users, etc...


These are just raw ideas. Maybe there are better websites/apps to do this, or better cryptocurrencies (I heard about Etherum that has also interesting features). What do you think about that guys?

 

[UmbraUnda]

HOLY MOLY !? FREE ONLINE CURRENCY??!! Thanks for the link & great ideas.

I'm opposed to changing the reputation system because it complicate preexisting rep and some other variables.
However implementing a new rep system (example Prestige) under a fancier name could work.

 

[TheFrenchLeprechaun]

HOLY MOLY !? FREE ONLINE CURRENCY??!! Thanks for the link & great ideas.

You can earn around 0.2 € in about 2 or 3 weeks by just clicking two buttons (no ads), and you can optimize the process a little. With referrals for example.

I'm opposed to changing the reputation system because it complicate preexisting rep and some other variables.
However implementing a new rep system (example Prestige) under a fancier name could work.

Yeah, I was rather thinking of an alternate system in addition of reputation system.

 

[GhostWolf]

No.

 

[TriggerHappy]

I got Ralle to create a bitcoin address for donations, but I don't really know if integrating it into the site is really worth it. If users want to accept donations in BTC they can simply put their address in their signature.

btw, those faucet sites are mostly a waste of time.

 

[Zombie]

So, how much money do you have to invest to get these "free" Bitcoins of yours?

 

[TheFrenchLeprechaun]

No.

Yeah.

I don't really know if integrating it into the site is really worth it. Btw, those faucet sites are mostly a waste of time.

Yep, there's not much to implement to the site. Adresses and referral links could do the job on their own, and the forum would be a good mean to share them if necessary. I agree about faucets, but the eventual inflation of BTC and the fact we are a community make me try to find a viable option (for example with referred users on those faucets).

So, how much money do you have to invest to get these "free" Bitcoins of yours?

On freebitco.in, none. I don't know for the other websites of this kind (I heard that some of them wasn't very trustable).