I feel that most merchant (especially off-line) reward programs are broken, so what if shopping at any store could give you sats back. A universal easily exchangeable "points system" that can be redeemed instantly and by the way.. goes up in value with time.
The full business model is note set yet, but here is the proof of concept, please avoid abusing it, so other people can try it. There are some free sats, although not unlimited ;)
Remember that I also teach people wit NO CODING SKILLS to create their own Bitcoin Lightning Apps. If anyone is interested, just ping me.
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lol. You should call Bill Gates
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You managed to get a giggle or two from me. 🤣
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I have so many good ideas, but I have no time to learn to code, but would love to throw a few apps together in my life.
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It's a good idea. All centralised platforms have done it before. I think it was a good move from them. Good marketing is good choice..
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Pretty cool! I had three items totaling $11.67, and got 12 sats back.
I think you should have some people go to stores asking which products aren't selling. The store owner will give you a list of products that aren't selling, and for the next month you create these rewards for those particular skus.
Everyone may win here - the store owner gets to turn inventory, the consumer buys something they are okay with and the distributor/manufacturer gets a sold product. However, a lot of these products end consumers may not want.
If you could figure out how to get products end consumers want, manufacturers are trying to sell, that store owners have ample stock on - this would be quite the opportunity!
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yup ;)
As you say, exact ratios / amounts of rewards should be dynamic. An final business model is not clear.
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Are you a developer?
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It depends on what you mean by the word "developer".
Yes, I created that app by myself as well as other Bitcoin LN enabled apps like www.qfg.io . But I don't write code, I use APIs, no-code platforms and the likes to bring them to life.
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What no code platforms do you recommend?
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It depends a lot on your app needs. Best one for me is Bubble, super powerful. Just they still don't have native mobile app export. But they will eventually.
Adalo for mobile apps, and also way easier to learn.
I teach how to create this bitcoin LN enabled apps, and also can do dev work if anyone needs.
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Funny, I gotta say, I did expect some abuse, but not this level, a single person trying to empty all of our funds, sad to realize that.
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What extent of abuse did you expect originally?
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good question haha. No idea, just people trying to redeem more than 1 receipt. So now I set super small limits. I thought the community was more dev oriented. my bad
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I like the simplicity of the concept. Upload receipt and get sats but how will you make money to cover the rewards you are issuing?
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Yeah, that is the challenge, so mostly, for now it is open for most kinds of tickets, but we can close it down to only certain stores or merchants, and only open it if they decide to sponsor it.
We can improve a lot the product towards the merchant in terms of giving them back information about shoppers who otherwise they wouldn't have, since they are offline shoppers. They can then retarget, or we can gather more data prompting a market research question in order to claim the sats, etc.
Any ideas are welcomed.
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I will try it out next time I get a receipt.
Have you seen what Joltz is doing regarding bitcoin rewards?
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right... actually I have talked to Ian, amazing guy. I haven't been able to test their app because of my geolocation, but I remember it was kinda different? (beside the point that theirs is a fully made profesional system haha)
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Yes, Ian is great. He did an AMA here a couple months back. Definitely a different model and further along but just thought I would mention it in case you were unfamiliar as maybe you could get some ideas from them.
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yup.. this might be more focused on LATAM, since offline / cash purchases are still pretty big. So if we find a way to make it profitable, it could also onboard millions into the LN which is my ultimate purpose.
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I am fascinated by the Bitcoin rewards space. It just makes so much sense to me. Rewards programs are expensive and a pain in the ass to manage. It could be very simple with Bitcoin and consumers should want rewards (sats) that go up in value.
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Exactly. Most problems from rewards systems come from: Complex interoperability. Closed systems. Can't spend starbuck points in Target. Hard to manage double spend / usage of points. Hard to keep up (as a shopper) with 20 different programs. Hard to explain to the end user. Almost always worthless. Hard to transfer (in case of cash back)
All of those are fixed by btc over LN
  • What is the point of the app?
  • What is the benefit for you?
  • Will you sell services to businesses that join the app?
  • Will you do anything with the data?
I ask these questions out of curiosity, to understand your point of view.
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As said above, it is not perfectly clear right now. At first it was just to prove that cool things can be created with bitcoin lightning and other tools.
The benefit for me is just having fun... jk (but also it is true), the idea is to polish the concept in order to be able to offer it as a service for specific merchants / stores, obvs it wont be always open to upload any receipt and grab sats, that is just a proof of concept.
Those merchants (sponsors) can then have value added services from this, like getting data from their offline customers or making them market research questions for a specific product based on their receipt in order to be able to withdraw sats.
As I said.. I am open to any ideas.
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