[2016-11-18] Bitcoin Tipping App ChangeTip Closes Its Doors

Kprawn

legendary

Activity: 1904

Merit: 1073

Damn this is a shame.... One of the most popular methods to transfer micro transaction for https://www.reddit.com/r/millionairemakers/ was

ChangeTip. They are the perfect example of why Bitcoin is more suitable for micro transactions than other payment options like PayPal. Is this

their failure or just a indication that people are not prone to tipping? It is going to be a sucky Xmas without ChangeTip. Angry

Hazir

legendary

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★Nitrogensports.eu★

Bitcoin micro transaction market is not as easy as it seems at first glance. FIAT payment processors are still better for sending random amount of money to your friends/family/random internet people.
Plus, Bitcoin is used by far less than 10 million of people, while at the same time PayPal has over 192 million accounts registered and active.
It is not really not much of a surprise that Bitcoin Tiping App is not popular. My guess is - we are still not there yet with Bitcoin adoption.

cr1776

legendary

Activity: 4018

Merit: 1299

Quote from: 1Referee on November 19, 2016, 04:36:05 PM

Quote from: cr1776 on November 19, 2016, 07:09:42 AM

It would be nice if they open sourced the software. It is a cool concept, but I bet overhead was too much.

It doesn't work like that. They rather keep everything within their control, or sell it to an interested party, than simply publishing everything online where people can make use of what ChangeTip has invested plenty of time and money in. Other than that, there are already certain other tipping bots that do their work equally as good. Or you can get your own developed. The only question is.... Will you invest your precious time and money into something that might never reach a point of being profitable for you? I definitely wouldn't.

It can definitely work like that and it has happened many times before on other projects.

Likewise, if you read what they have said ChangeTip even discussed doing so per their public postings but didn't believe volunteers would accept the liability. Also, again as they have publicly stated, they have not been able to find a buyer for it, everyone is at AirBnB now, and they have been running it for the last few months at a loss.

tyz

legendary

Activity: 3346

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Quote from: DooMAD on November 19, 2016, 06:08:43 AM

Never used the service myself, but I'm a little surprised to see this thing fail. It sounded like such a simple concept, but perhaps in reality things were a little more complicated.

I have not used it either. However, I have never encountered the possibility to donate with ChangeTip. And I have browsed a lot of various crypto sites in past times. I believe that the low utilization ultimately led to the discontinuation of the service. Regrettable, but I think that soon there will again be a similar service, when Bitcoin should be even more popular in the future.

Winner

legendary

Activity: 1190

Merit: 1000

Look ARROUND!

ChangeTip was pretty cool.

There isn't much tipping apps out there right now. People might be building Alt-Coins and they usually look for people that could make Reddit + Twitter tipbots.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: cr1776 on November 19, 2016, 07:09:42 AM

It would be nice if they open sourced the software. It is a cool concept, but I bet overhead was too much.

It doesn't work like that. They rather keep everything within their control, or sell it to an interested party, than simply publishing everything online where people can make use of what ChangeTip has invested plenty of time and money in. Other than that, there are already certain other tipping bots that do their work equally as good. Or you can get your own developed. The only question is.... Will you invest your precious time and money into something that might never reach a point of being profitable for you? I definitely wouldn't.

aso118

legendary

Activity: 1918

Merit: 1012

★Nitrogensports.eu★

The employees of the Company were acquired/hired by airBNB.
I guess ChangeTip's business model didn't make sense, post that.

cr1776

legendary

Activity: 4018

Merit: 1299

It would be nice if they open sourced the software. It is a cool concept, but I bet overhead was too much.

DooMAD

legendary

Activity: 3724

Merit: 3063

Leave no FUD unchallenged

https://news.bitcoin.com/bitcoin-tipping-changetip-closes-doors/

Popular Bitcoin tipping platform ChangeTip has announced the service is shutting down operations. The company has been deliberating ways to continue the service, but unfortunately, in the end, it said the only option was to shut down.

Never used the service myself, but I'm a little surprised to see this thing fail. It sounded like such a simple concept, but perhaps in reality things were a little more complicated. The article speculates it was down to running costs, so I suppose handling microtransactions isn't exactly an easily profitable business model yet. Still, with a gap in the market, it's almost certain someone will come up with a replacement pretty quick.

Topic: [2016-11-18] Bitcoin Tipping App ChangeTip Closes Its Doors (Read 587 times)