Business 13 April 2018

Erik Gibbs

Tipping bots gain favor thanks to Bitcoin Cash

The introduction of cryptocurrency brought with it the ability to provide micropayments, or tips, in virtually any scenario. However, in the beginning SegWit-Coin BTC (also referred to as Bitcoin Legacy or Core) was almost the exclusive source of the tips. When SegWit-Coin BTC’s transaction fees shot up through the roof, digital tipping went the way of the dodo bird. Fortunately, Bitcoin Cash (BCH) has helped resurrect the practice, with several very useful tools being introduced to the community.

ChangeTip was one of the first micropayment applications introduced. It was founded in 2014 but two years later was forced to close up shop after 350,000 tips, most likely because of the high prices associated with SegWit-Coin BTC. It would never make a comeback.

The BCH community has been working diligently to create micropayment options. Tippr was created in August to give Reddit users a tipping option. It now works on both Reddit and Twitter, and the company hopes to expand to other social media platforms in the near future. While it currently only works with BCH, Tippr representatives have said that they could add support for other currencies down the road.

Using Tippr on either Reddit or Twitter is easy. For Reddit users want to send a monetary thank you gift to another user, it can be done by entering the amount followed by “/u/tippr.” In other words, if someone wants to send $0.50, the command would read “$0.50 u/tippr” without the quotes.

For Twitter, the process is almost the same. Instead of using the hashmarks, however, the command is “$0.50 @tipprbot,” again without the quotes. Both versions assume U.S. dollars, unless a different currency is specified after the amount to be sent.

Since its inception in 2017, Tippr has already facilitated around $85,260 in tips. There have been a total of 11,810 users and 25,576 transactions. The digital world’s biggest tipper has been “asicshack,” who has apparently sent a little more than $7,582 to different users. The biggest recipient has been “rawb0t,” who has received $4,284 from 154 tips—that’s an average of almost $28 per tip.

Tippr isn’t the only platform available. TipmeBCH is available on Telegram, the world’s preferred social media platform for discussing anything cryptocurrency. The code for the bot is available on Github, giving complete transparency to how it works. It was introduced just a short two months ago, and has garnered a tremendous positive response.

The sky’s the limit. If micropayments can be made on a few social media sites, why can’t they be used for tipping the pizza man, the hotel bellboy or the masseuse?  Regardless of what the opponents want to believe, cryptocurrency is here. It’s here to stay and will quickly become integrated in a number of aspects of normal activities.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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