Great work!

You no longer have to instruct a new user to "download X wallet in the app store.. sorry, that's spelled with two u's, no not that one, yes okay download and wait a few minutes, now click receive, now input 50,000 sats, now show me a QR code."

This hits home so hard 😂

Maybe this has been answered/is obvious but the user still has to receive a minimum necessary to open a channel correct?

Not familiar with it so not exactly sure what you’re saying haha

Thanks Tony!

100% we’ve taken what we saw and learned on the ground and built this out with all of that in mind.

Looking forward to chatting! Awesome release by you guys today as well. Loving the progress.

hahah, whatever works! PlebLab appreciates it :)

No this is available in a variety of ecommerce shops currently! No reason why this can't be global. We do have some global brands as well.

Thanks for the honest feedback @ribbit! I agree with you. Loyalty rewards and such are very gimmicky. I've always felt that way as well. The truth is, it still works though, which is hard to wrap my mind around at times.

Through diving into the loyalty and rewards space, I've learned a lot more about why it works and it all just boils down to psychology and giving the customer another touch point to keep the brand top of mind.

In any case, it helps businesses retain customers and is a driving force in their sales in some way, shape or form.

It does hit different when it's Bitcoin rewards, though.

The cool thing about what you're saying is that most Bitcoiners already have Bitcoin and earning another 1% or whatever here or there really isn't that appealing if they have to through extra steps. People still do it, though.

But for the everyday consumer, the NPC, the no-coiners, the pre-coiners - they earn those points like they're going out of style and don't really think twice about the fact that they're basically shitcoins.

So if we can more people earning Bitcoin instead, almost passively and seamlessly, I think people will have a far greater chance of looking into bitcoin and effectively being invested in its success without having to lift a finger. We shall see!

Right now we do have some metrics. On average, ~30% of people who received an email to claim rewards (often times completely unaware they were getting them post-purchase) actually do 'claim' them. From there, ~40% of people withdraw them to a lightning wallet. Of note, the majority of people earning these rewards are NOT bitcoiners. They're just buying everyday products from businesses who aren't exactly 'bitcoin' businesses, and getting some sats in return.

thanks again for the feedback and we'll certainly keep this in mind :)

Thanks @k00b! :)

This is what we saw fairly often when onboarding businesses to Oshi. It's the dark side of accepting bitcoin or rewarding it. That's why we've integrated into the Square point of sale, Shopify, and WooCommerce to make it seamless for employees and customers.

Furthermore we have various other features so customers can keep track of their rewards and withdraw them if they'd like as well.

You can learn more at https://oshi.tech or you can check out our latest updates from today: https://twitter.com/OshiApp/status/1709251099977249082

Hey! I'm a little late to this but this is what we're doing at Oshi.

You can learn more here: https://Oshi.tech/

Our blog posts deep dive into what you describe in your post.

We've recently released some new features that do even more: https://twitter.com/OshiApp/status/1709251099977249082

🤣

You are correct. This is how it should be, but unfortunately it isn't... yet!

Thought experiment. If suddenly, every single point of sale in the world had seamless lightning payment options, would anyone actually pay with it? The overwhelming majority of people would not. Saving 3-5% in processing fees of zero transactions is a savings of zero. Where is the consumer incentive? This is what we're trying to solve and provide a good experience for.

Next step would be for whomever integrated with that point of sale to offer bitcoin rewards to the consumer AT LEAST as much as they're already getting through their current credit or debit card. Ok, but how do they know which wallet the customer is paying with? They don't, because lightning network's onion routing - unless of course there's some sort of integration or middleware to figure this out, OR the same wallet the customer is paying with is also the LSP of the merchant, in which case that seems to be rather antithetical to bitcoin ethos. USE THIS WALLET TO GET REWARDS AND ONLY THIS WALLET otherwise you get nothing and have zero incentives to pay with bitcoin. Sounds kind of scary in the long run, and very much a walled garden.

We're a bit ahead of the game, but we are trying to fix this issue while providing interoperability and a seamless consumer experience. Because frankly, it matters now how many businesses are accepting bitcoin - it only matters how many people are willing to pay with it.

StackStacker if you can figure all of this out we will in fact hire you to fix everything ;)

There's so many great open source projects you can check out and contribute to. People recognize proof of work in the bitcoin space, so tinkering around with things and getting in wherever you can is very helpful. Network as much as possible!

You should check out Pleb Lab as well.

Also, Bolt.fun is a really great way to meet people and learn more about developing on lightning.

Thank you! We think bitcoin rewards will be the entry point to the bitcoin rabbit hole for most people. Fortunately, our platform is built from the ground up with hyperbitcoinization in mind, so although we're widening the funnel, the endpoint for our user journey is actively participating in the bitcoin circular economy.

One step at a time :)

Note I really don't talk much about the 21M cap, store of value, inflation hedge, lower payment processing fees, or that bitcoin is the thermodynamic bridge between the digital and physical realms ;)

They generally don't care. Love the businesses who do care about these things, but we need to be honest with ourselves - they don't care and won't care until they get started and dive into the rabbit hole themselves.

You bet.

First off, we are not a payment provider/processor. We leave that up to companies like Strike, Bitcoin Beach Wallet, IBEX, OpenNode, and more, OR open source software such as BTCPay server.

So businesses interested in Oshi can always promote their products and offer bitcoin rewards, while still receiving fiat on the backend if they'd like. This is a great first step.

Definitely.

We're working on that. It's mainly a frontend update for us. We'll be rolling that out as soon as possible so we can help businesses globally!

I'm sorry to say there is very little PoW associated with my beard. I'm merely a cantillionaire closest to the good beard genetics spigot.

For brick and mortar businesses simply accepting it isn't a big deal, but the big hurdle for staff and operations would be the point of sale system they use. Next would be a lack of understanding/unwillingness to understand that they can use bitcoin as a network, without necessarily getting any exposure to the asset itself. Working with bigger companies means going up the chain of command, which is time consuming.

For Ecommerce, businesses using systems that have very limited API access can be a show-stopper, making it very difficult to incorporate it at all.

I read way too much non-fiction (working on that!), but I really enjoyed The Moon is a Harsh Mistress.

Wen moon? When we did our first big sprint to onboard businesses, interest was high because we had already mooned. That's unfortunate. We simply could not build Oshi fast enough to get them going beforehand!

Hoping for a long, drawn out bear market so businesses and consumers can slowly accrue bitcoin and reap all the benefits of NgU tech as we roll into the next bull market. We shall see.

We're working on tools to help you help us. Soon TM.

Ultimiately, it's about building trust and relationships with businesses near you, and leveraging that to introduce them to something unique and interesting: bitcoin.

If you already know a business owner, have a chat with them about Oshi and what accepting bitcoin may do for their business. Maybe you have a friend or family member who owns a business, or they know someone who owns a business - leverage that!

Talk with friends and family about using bitcoin to buy something. SHOW them how to do it. Set them up with a wallet (something like Strike or CashApp is a nice stepping stone to the bitcoin economy).

If you're looking to bootstrap a Bitcoin Beach near you, realize it's all about community and trust at the local level. The most distributed, trustless network on the face of the earth is all about trust!

Get familiar with the tools and show businesses and consumers any chance you get how bitcoin works. Send them a few sats, show them what a bitcoin point of sale looks like, etc. At the local level, it all starts with you.