Chicago Sun-Times Bitcoin Experiment (NOW OVER)

[BitcoinBarrel]

I agree that $.25 is a bit of a waste. It would be better to ask for a minimum donation of 0.001 BTC that way the transaction fee isn't more than the donation LOL.

[Peter R]

Why would you recommend donating 25 cents?

If you want this experiment to work, you better hope the total donations they receive is *BIG*.

That means everyone needs to donate $25.00.  Not 25 cents.

If 400 people donate 25 cents and their grand total is $100, they'll consider bitcoin a total joke, with a bunch of poor teenagers promoting it.

If 400 people donate 25 dollars and their grand total is $10,000 .... they'll announce that from a mountaintop and Bitcoin will get yet another boost in legitimacy.

A lot of people can afford $0.25 (the minimum option given) but not $5.00 or more.  If this hits the press, they will likely report the total number of donations so even making a small donations is helpful.  People need to know they are contributing with a $0.25 donation--that's sort of the point of micro-payments.

And people who want to to donate more will, regardless of what I suggest.  I know I did.  


EDIT: I've added $0.25 (or more!!) to the OP.

[Peter R]

I agree that $.25 is a bit of a waste. It would be better to ask for a minimum donation of 0.001 BTC that way the transaction fee isn't more than the donation LOL.

BitWalls integrates with Coinbase.  If you want to save the 8 cent transaction fee, sign-up and fund a Coinbase wallet.  It's pretty slick (I tried for the first time today): the Coinbase wallet automatically detects that the receiving address is also a Coinbase customer, and then the transactions gets executed off-chain.  This saves the user the miner's fee, and relieves the bitcoin network of small dust-type transactions.  


Micro-payments are one of the killer-apps for off-chain bitcoin transactions.

[BTCisthefuture]

I agree that $.25 is a bit of a waste. It would be better to ask for a minimum donation of 0.001 BTC that way the transaction fee isn't more than the donation LOL.

BitWalls integrates with Coinbase.  If you want to save the 8 cent transaction fee, sign-up and fund a Coinbase wallet.  It's pretty slick (I tried for the first time today): the Coinbase wallet automatically detects that the receiving address is also a Coinbase customer, and then the transactions gets executed off-chain.  This saves the user the miner's fee, and relieves the bitcoin network of small dust-type transactions.  


Micro-payments are one of the killer-apps for off-chain bitcoin transactions.

You'd still end up paying a fee to fund your coinbase account though no?  Either a fee for depositing fiat , or a minning fee sending btc to your coinbase wallet?

[Peter R]

I agree that $.25 is a bit of a waste. It would be better to ask for a minimum donation of 0.001 BTC that way the transaction fee isn't more than the donation LOL.

BitWalls integrates with Coinbase.  If you want to save the 8 cent transaction fee, sign-up and fund a Coinbase wallet.  It's pretty slick (I tried for the first time today): the Coinbase wallet automatically detects that the receiving address is also a Coinbase customer, and then the transactions gets executed off-chain.  This saves the user the miner's fee, and relieves the bitcoin network of small dust-type transactions.  


Micro-payments are one of the killer-apps for off-chain bitcoin transactions.

You'd still end up paying a fee to fund your coinbase account though no?  Either a fee for depositing fiat , or a minning fee sending btc to your coinbase wallet?

Yes you'd pay a miner's fee to fund your Coinbase wallet.  If micropayment take off, a lot of people would use their Coinbase (or similar) wallet for many many micropayments and only pay a fee each time they load or unload your Coinbase wallet on-chain.

[Sonny]

I agree that $.25 is a bit of a waste. It would be better to ask for a minimum donation of 0.001 BTC that way the transaction fee isn't more than the donation LOL.

BitWalls integrates with Coinbase.  If you want to save the 8 cent transaction fee, sign-up and fund a Coinbase wallet.  It's pretty slick (I tried for the first time today): the Coinbase wallet automatically detects that the receiving address is also a Coinbase customer, and then the transactions gets executed off-chain.  This saves the user the miner's fee, and relieves the bitcoin network of small dust-type transactions.  


Micro-payments are one of the killer-apps for off-chain bitcoin transactions.

You'd still end up paying a fee to fund your coinbase account though no?  Either a fee for depositing fiat , or a minning fee sending btc to your coinbase wallet?

Yes you'd pay a miner's fee to fund your Coinbase wallet.  If micropayment take off, a lot of people would use their Coinbase (or similar) wallet for many many micropayments and only pay a fee each time they load or unload your Coinbase wallet on-chain.

Yup...just like how on-chain gambling sites is losing market shares to those off-chain gambling sites...

[R0yalAir]

it's so sad to read the ninth largest newspaper in the US begging for bitcoin money