Search Your Way to Millions? Using Bitcoin to Reinvent the Search Engine

[OmegaStarScream]

Time is money. Which is why Indian startup SearchTrade is looking to change how the Internet functions today by rewarding people with bitcoin for their time spent using search engines. Along with the ability to purchase keywords like assets, the innovative approach to search engine monetization may usher in a whole new industry. 


It pays to search :

However, two entrepreneurs from India, Vishal Gupta and Rashmit Gupta argue that in most cases the innovation has been at the front end of the user experience. The most exciting piece of the pie, i.e. the revenue model, is still up for grabs. This is something they hope to change through their startup SearchTrade.

SearchTrade looks to reward users for their time spent searching for information on search engines. The plan is to incentivize the user with satoshis every time a keyword is entered. Where it gets interesting is that the user is also able to join in the network’s revenue pool by purchasing keywords as though it were assets. Once purchased, these keywords would then create revenue for the investor on every search generated involving the word throughout the network.

Full article can be found here : http://cointelegraph.com/news/115205/search-your-way-to-millions-using-bitcoin-to-reinvent-the-search-engine

Honestly I think this is a great project and if this aint going to bring Bitcoin to mainstream I'am not sure what will ... "SearchTrade is set to launch in 107 days and has already generated a fan following by raising 91 BTC during a recent keyword presale". and now it's 111.2 BTC (after couple of days) . What do you guys think about this .

[RustyNomad]

Sounds very interesting but also very confusing at the same time.

Had a quick look but will have to read through it in a bit more detail this weekend. Would be nice if one gets paid for every search you do. Guess the amounts will however be extremely small.

[unusualfacts30]

swagbucks already do that

[Aki4real]

You need to have 10 BTC to start reserving keywords...
That's quite a leap of faith there..

*edit you can already do it from 1 BTC I see..

[S4VV4S]

swagbucks already do that

Well, I guess we know where they got their idea from.

My question is, who will be funding this?

They state that:
CURRENT PAYOUT PER SEARCH – Bitcoin: 0.00000400 USD: 0.0016 (Approx @ 290$ per Bitcoin)

25% goes to -> Search User
25% goes to -> Keyword Owner
25% goes to -> App Owner
25% goes to -> SearchTrade

Nice, but who will be paying for it?
I doubt the sale of keywords will be enough to cover the keyword everytime it is searched.
So I expect this to go bust very soon (if it will ever launch).

[OmegaStarScream]

swagbucks already do that

Well, I guess we know where they got their idea from.

My question is, who will be funding this?

They state that:
CURRENT PAYOUT PER SEARCH – Bitcoin: 0.00000400 USD: 0.0016 (Approx @ 290$ per Bitcoin)

25% goes to -> Search User
25% goes to -> Keyword Owner
25% goes to -> App Owner
25% goes to -> SearchTrade

Nice, but who will be paying for it?
I doubt the sale of keywords will be enough to cover the keyword everytime it is searched.
So I expect this to go bust very soon (if it will ever launch).

If I understood right , this is only a Pre-sale so they launch and they are now at 111 BTC (and only half got sold) so I think sales will be opened officially after they launch , there is planty of keyboards logically

[S4VV4S]

swagbucks already do that

Well, I guess we know where they got their idea from.

My question is, who will be funding this?

They state that:
CURRENT PAYOUT PER SEARCH – Bitcoin: 0.00000400 USD: 0.0016 (Approx @ 290$ per Bitcoin)

25% goes to -> Search User
25% goes to -> Keyword Owner
25% goes to -> App Owner
25% goes to -> SearchTrade

Nice, but who will be paying for it?
I doubt the sale of keywords will be enough to cover the keyword everytime it is searched.
So I expect this to go bust very soon (if it will ever launch).

If I understood right , this is only a Pre-sale so they launch and they are now at 111 BTC (and only half got sold) so I think sales will be opened officially after they launch , there is planty of keyboards logically

Yeah, but.....
I pay 1BTC let's say to buy the keyword Bitcoin.
Then when everyone searches for the word Bitcoin I get 25% of 0.00000400BTC which is paid by whom?
Is it paid from my initial payment from buying the keyword (ponzi style)?
Or is SearchTrade going to pay for it?
If it's the latter then how is SearchTrade going to pay for it since they expect to get 25% out of each search too?

EDIT: And just to prove that they don't know what they are doing - or are lying....
Each party gets 25%, and as they state ( http://searchtrade.com/defaulthome/ )

CURRENT PAYOUT PER SEARCH – Bitcoin: 0.00000400 USD: 0.0016 (Approx @ 290$ per Bitcoin)

25%
0.00000125 BTC
0.0004 USD
goes to -> Search User

25%
0.00000125 BTC
0.0004 USD
goes to -> Keyword Owner

25%
0.00000125 BTC
0.0004 USD
goes to -> App Owner

25%
0.00000125 BTC
0.0004 USD
goes to -> SearchTrade

According to their "math", that is 500 satoshis, NOT 400.

Scam anyone?
Ponzi?

Does anyone have their wallet address of where those 111BTC reside?
Did anyone buy a keyword?

[RustyNomad]

Yeah, but.....
I pay 1BTC let's say to buy the keyword Bitcoin.
Then when everyone searches for the word Bitcoin I get 25% of 0.00000400BTC which is paid by whom?
Is it paid from my initial payment from buying the keyword (ponzi style)?
Or is SearchTrade going to pay for it?
If it's the latter then how is SearchTrade going to pay for it since they expect to get 25% out of each search too?

Have to agree, the figures just do not add up. Even if they sell the same keyword several times over but this will just compound the problem even more.

[S4VV4S]

Yeah, but.....
I pay 1BTC let's say to buy the keyword Bitcoin.
Then when everyone searches for the word Bitcoin I get 25% of 0.00000400BTC which is paid by whom?
Is it paid from my initial payment from buying the keyword (ponzi style)?
Or is SearchTrade going to pay for it?
If it's the latter then how is SearchTrade going to pay for it since they expect to get 25% out of each search too?

Have to agree, the figures just do not add up. Even if they sell the same keyword several times over but this will just compound the problem even more.

Please check my previous post above yours

I have edited it and included interesting info

[OmegaStarScream]

Unless they are not holding their funds on one wallet , then this is a total scam : http://bitcoinrichlist.com/top100?page=107
according to their website they have 112.4 BTC and on that list there is only three wallets with that amount and those wallets last transactions was one year or two years ago .

[Aki4real]

Bought 3 keywords, lets see what happens.

(Btw according to FAQ they plan to pay people with advertising income)

[S4VV4S]

Bought 3 keywords, lets see what happens.

(Btw according to FAQ they plan to pay people with advertising income)

Can you give us the payment address?

Advertising income still won't cut it.
Unless they charge ridiculous fees or have very few visitors in their search engine (which I doubt it).

[Aki4real]

14Ncr7JVsNRrczzt8ybusTDBaNWbUxu5Sx > 1btc
1MiXFcB9rbZh2XFvnBPZY6Ha38kks7eBLJ > 0.4 btc

What is disturbing is if you "fund" your account, there is nothing else to do with the BTC than buying keywords.
Not yet found a possibilty to withdraw or something, let's see how it progresses.

[Swordsoffreedom]

Bought 3 keywords, lets see what happens.

(Btw according to FAQ they plan to pay people with advertising income)

Interesting well lets see how this pans out for you then
And it does seem disturbing that their is no withdrawal function although you can buy (porn) Bitcoin and some other word lol.

[S4VV4S]

14Ncr7JVsNRrczzt8ybusTDBaNWbUxu5Sx > 1btc
1MiXFcB9rbZh2XFvnBPZY6Ha38kks7eBLJ > 0.4 btc

What is disturbing is if you "fund" your account, there is nothing else to do with the BTC than buying keywords.
Not yet found a possibilty to withdraw or something, let's see how it progresses.

Hmm, all I see is your purchases and the coins moved to other addresses (currently ending at https://blockchain.info/address/1AdhncLSb5HCcZ1C6EfpBzDCwYGA4T7iTY ) which do not have 112BTC as claimed.

Indeed, it is disturbing that you cannot withdraw.
How will you withdraw your earnings?

[Aki4real]

Well, it's still in Beta..
If it's a scam then time will tell, but when I look at the team and founders.. if they take my 1.4BTC (which isnt too big a deal(for me)) I will surely make them pay for it in another way.

So lets see what happens..

[nagatlakshmi]

When I try to withdraw earnings, it shows that my wallet address is invalid?? It must be Possible SCAM!!!

[ikydesu]

Interesting project. Still curious if this site is will pay and still doubt if this site looks ponzi scheme or not, because as far as i see the system is like rotation money.

[tadakaluri]

The statistics on this site is unreliable. So, we need to wait till launch and see results.

[Kyraishi]

Interesting project. Still curious if this site is will pay and still doubt if this site looks ponzi scheme or not, because as far as i see the system is like rotation money.

It's a ponzi.
It doesn't take a science degree to figure that out.