You can now get kick back for onboarding new users to WoS (and eventually, Lighning).
- Have a newbie download WoS: https://walletofsatoshi.com
- Be the first to send a few sats to the freshly baked bit coiner
- Receive a share of any commission WoS makes from them for the next 12 months
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I'm having a hard time understand what the hell is this "commission" they are talking about.
WoS has a great UX, but I'm always bothered by not understanding their business model. I've had people tell me that, with a Lightning node their size, they can simply earn yield from acting as a routing node with their users' funds. But I'm not that convinced that that's feasible.
Livingroomofsatoshi.com
Okay, that explains a lot. Thanks for sharing!
👍🙂
They are good guys.. WoS is there way of giving back to the community
They are good guys....
.... for now.
We can't trust that will be the case forever. People need to learn to self custody, and transact without custodians.
To be clear, WoS is okay in my book for small amounts of money and onboarding newbs. I just don't want us to get complacent, so I have to point out that centralization is bad. Power corrupts.
Yup totally agree... Everyone should have a hardware wallet.
WoS for small amounts/zapping on Nostr and onboarding people etc...
What the guys have built is awesome - it sucks to see people bagging them is all..
LOL no!
This is bad!
I agree; it feels fishy and wrong - Imagine you invited me there, and every time I use WOS, you would know when and how much I pay guessing from the fee reward.
why don't they use those sats to educate more users instead.
And will create a wave of grifters
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yeah, those were also my first thoughts...
https://m.stacker.news/4759
Good for getting from 0 to 1, but get them to 100 as soon as possible.
You mean get them to 100 sats? Or 100 BTC?
100 bolivars
100 japanese yen
Knowledge %?
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If they bring in noncoiners, it's a good thing.
We should ALWAYS be skeptical. I won't say this sounds fishy just yet but bitcoiners of all people should be highly skeptical and especially of things we recommend to newbies.
My initial thoughts.
Would love to hear from anyone that has tested this. Also, did I miss any things to consider?
This is the way.
This is really cool. Please if your WOS is new, drop your lightning address let me send some sats
Is it real bitcoin though or is it just an entry in their database? Let's be completely clear.
I had the same thought and there's no way of knowing for sure.
But the counter argument is that they're just spending their marketing budget denominated in Bitcoin. It's not an unusual onboarding strategy in traditional software companies.
This definitely smells.
But to be fair if I'm just trying to show someone how Bitcoin works I usually get them to download WoS and I send them a few sats as a demonstration. Then I follow it up with an explanation of the pros and cons of different wallets and advise them not to hold too much money on WoS.
Same here
Commission? Will they want me to sell them aloe vera gel or organic comsmetics as well? This is definitely not the way.
WoS is a one way street, don't keep more than a few bucks there.
WOS is getting too centralised by the minute
This is nice from WOS, I'll be bringing in some nocoiners from the next Blockchain I'll be attending.