GoSats - An Attempt to Promote Bitcoin in India (What's your views guys?)

[webtricks]

So I came across this website on Telegram and found it interesting: GoSats

This site is planning to start a service with which you can shop online on various merchant sites and receive cashback in the form of bitcoins. It is similar to using apps like PhonePe or Google Pay except the fact that you will receive real bitcoins as cashback instead of those 'Better luck next time' scratch cards.

You can keep on stacking bitcoins on every transaction and can send that to your friends, family via site. Also they are planning to launch a tool which will provide instant liquidity to other altcoins.

In my view, it is good attempt to promote bitcoin in India as people can get their first units of bitcoin absolutely free. However, it would be nice if site allows people to shop with bitcoins too (which I don't think it will implement). What's your take on this guys?

PS: Website is not launched yet but accepting pre-signups and offering small bonuses in bitcoin upto 0.025 BTC
PS: This is not paid-promo or anything. I am just trying to create buzz because I think such services are good for Indian domain.

[1713404511]

1713404511

[amishmanish]

The website doesnt't speak of any promoter or developer. Seems like they are looking for anonymity. The domain registrant is some "Internet computer bureau limited" which is of course a made-up name. The registration address belongs to something called Sure Limited of Diego Gracia. Diego Gracia is famous to most Indians for the US base in the Indian ocean. It was recently in news during the China standoff.

There isn;t much information on Sure Ltd except the name of a board member who is supposedly in Bahrain Telecom and goes by the name Ihab Anwar.
Do you guys think that a website or service of this kind should have so many layers of obfuscation?? For reference, compare this with the open mention of the Purse.io team.

Where did you find those details? I checked on Whois and every website shows that the registrant is 'Saffron Technologies Pte Ltd.'. By digging a little, I found out that this company is registered in Singapore. I talked to one of the representative of GoSats team on Telegram and he confirmed that Saffron Technologies is the parent company of GoSats.

Thanks for the correction @ webtricks. I clicked on the first link for "whois gosats.io". It showed me this page which is actually just information for the .io domain. The original company is as you pointed out Saffron Technologies, which is anonymous too. Sorry for any confusion this may have caused.
At their telegram, they say they will offer cashbacks when you buy from partner merchants. There isn't much information about how they will manage the user info. That will be the main thing to ask before deciding on whether its a good thing for devs to be completely anonymous.

[pakhitheboss]

The website doesnt't speak of any promoter or developer. Seems like they are looking for anonymity. The domain registrant is some "Internet computer bureau limited" which is of course a made-up name. The registration address belongs to something called Sure Limited of Diego Gracia. Diego Gracia is famous to most Indians for the US base in the Indian ocean. It was recently in news during the China standoff.

There isn;t much information on Sure Ltd except the name of a board member who is supposedly in Bahrain Telecom and goes by the name Ihab Anwar.

Do you guys think that a website or service of this kind should have so many layers of obfuscation?? For reference, compare this with the open mention of the Purse.io team.

I think they are hiding because of the current uncertainty in indian crypto space. Recently. I opened up an online bank account with a private bank and I was asked not to use it for crypto-related transactions. I was in the impression that those things have been solved after the supreme court verdict


They are still in pre-sign up mode and are not asking anything confidential only your email address. We still need to wait for an official announcement and then we can decide what is wrong and what is right.

It is too early to come into any conclusion.

In my opinion it is a great initiative and we need to watch this space for more information.

[teosanru]

1. This obviously is the same old strategy wrapped up in a new box of bitcoin based cashback.
2. I think these websites including google pay actually don't even give 0.1% of cashback of the total transactions you do. They are just like a casino with no provably fair guarantee. Lol
3. I think entrusting such a website with your bank account details as they are not registered in India.

The website doesnt't speak of any promoter or developer. Seems like they are looking for anonymity. The domain registrant is some "Internet computer bureau limited" which is of course a made-up name. The registration address belongs to something called Sure Limited of Diego Gracia. Diego Gracia is famous to most Indians for the US base in the Indian ocean. It was recently in news during the China standoff.

There isn;t much information on Sure Ltd except the name of a board member who is supposedly in Bahrain Telecom and goes by the name Ihab Anwar.

Do you guys think that a website or service of this kind should have so many layers of obfuscation?? For reference, compare this with the open mention of the Purse.io team.

I think they are hiding because of the current uncertainty in indian crypto space. Recently. I opened up an online bank account with a private bank and I was asked not to use it for crypto-related transactions. I was in the impression that those things have been solved after the supreme court verdict

Hey which bank did this? Why didn't you slam their face with supreme court verdict? I can send you the original 180 page verdict if you want to share that with them. Uncertainty doesn't means one can violate supreme court rules. Banks are obliged to obey such rules.

[webtricks]

The website doesnt't speak of any promoter or developer. Seems like they are looking for anonymity. The domain registrant is some "Internet computer bureau limited" which is of course a made-up name. The registration address belongs to something called Sure Limited of Diego Gracia. Diego Gracia is famous to most Indians for the US base in the Indian ocean. It was recently in news during the China standoff.

There isn;t much information on Sure Ltd except the name of a board member who is supposedly in Bahrain Telecom and goes by the name Ihab Anwar.

Do you guys think that a website or service of this kind should have so many layers of obfuscation?? For reference, compare this with the open mention of the Purse.io team.

Where did you find those details? I checked on Whois and every website shows that the registrant is 'Saffron Technologies Pte Ltd.'. By digging a little, I found out that this company is registered in Singapore. I talked to one of the representative of GoSats team on Telegram and he confirmed that Saffron Technologies is the parent company of GoSats.

[akram143]

If the site is actually a legit one then it can bring millions of users into our crypto community for sure because lot of people might receive their bitcoin in such form as you said.But I am not going to trust any cashback sites because I doubt their trust level.

[Melloiga]

How will this work? On Paytm/UPI/etc. it works because you pay through the app and receive cash-back in the app but how would this work? Do you have to link your bank account on this app too? And lately the cash-back we get is usually offer/discount on the next purchase and the amount is very small, which is why I don't know how this will work. But I don't know if a lot of people will be eager to link their bank details with this app.

[akram143]

How will this work? On Paytm/UPI/etc. it works because you pay through the app and receive cash-back in the app but how would this work? Do you have to link your bank account on this app too? And lately the cash-back we get is usually offer/discount on the next purchase and the amount is very small, which is why I don't know how this will work. But I don't know if a lot of people will be eager to link their bank details with this app.

As far as I understand, you will receive the cashback to the app itself where they might have their internal wallet.And it works like Phonpe or google play actually and all you need is to surf and shop via app and make payments from your bank account with in your app to avail the rewards.

[saffroncoin]

Hey!

My name is Roshan, the founder of GoSats. I came across this topic on this Forum and its really nice to see this engagement. I hope i can answer all your questions.

Thanks webtricks for issuing this post!

Our final website will look a lot different with the team page with various information provided. We are definitely not anonymous
You can find us on twitter : https://twitter.com/gosatsapp and telegram: https://t.me/gosatsapp

Our mission is to enable shoppers in India to stack sats with their daily INR purchases. We have some exciting features lined up that you can find out on the website: https://gosats.io

We recently launched the first of its kind in India, Bitcoin Wheel aka "Sats Spinner" that can give variable bitcoin rewards. These rewards will be redeemable during the application launch.

We'll be announcing some top brands in the coming days. I'd love to take feedback from you guys. If there are some features, merchants you'd like us to add, do let me know!

With UPI payments, buying bitcoin with INR is a breeze. No bank account pairing is required since we do not plan to have sell to INR option yet  (We could down the line). Hence, bitcoin can only be withdrawn from your GoSats wallet to a bitcoin address or even to a lightning network invoice.

Do feel free to reach out for any queries!
Happy to answer them!

-Roshan

[allahabadi]

It's good that you came to clarify any questions we might have to ask.

I do like this concept and have seen others, but hope this picks up.

[Nomar]

The website doesnt't speak of any promoter or developer. Seems like they are looking for anonymity. The domain registrant is some "Internet computer bureau limited" which is of course a made-up name. The registration address belongs to something called Sure Limited of Diego Gracia. Diego Gracia is famous to most Indians for the US base in the Indian ocean. It was recently in news during the China standoff.

There isn;t much information on Sure Ltd except the name of a board member who is supposedly in Bahrain Telecom and goes by the name Ihab Anwar.

Do you guys think that a website or service of this kind should have so many layers of obfuscation?? For reference, compare this with the open mention of the Purse.io team.

Where did you find those details? I checked on Whois and every website shows that the registrant is 'Saffron Technologies Pte Ltd.'. By digging a little, I found out that this company is registered in Singapore. I talked to one of the representative of GoSats team on Telegram and he confirmed that Saffron Technologies is the parent company of GoSats.

"Saffron Technologies Pte Ltd." Who is the investor and what business the company operates? Do you have a detailed introduction?

[amishmanish]

--snip--
We'll be announcing some top brands in the coming days. I'd love to take feedback from you guys. If there are some features, merchants you'd like us to add, do let me know!

With UPI payments, buying bitcoin with INR is a breeze. No bank account pairing is required since we do not plan to have sell to INR option yet  (We could down the line). Hence, bitcoin can only be withdrawn from your GoSats wallet to a bitcoin address or even to a lightning network invoice.

Thanks for your reply. I fudged up your registrant information and have edited that post based on @webtricks reply. Here are a few questions:

1.) What kind of user info will you need for legal compliance, if any?
2.) Is saffroncoin your old venture? How was the experience?

[saffroncoin]

--snip--
We'll be announcing some top brands in the coming days. I'd love to take feedback from you guys. If there are some features, merchants you'd like us to add, do let me know!

With UPI payments, buying bitcoin with INR is a breeze. No bank account pairing is required since we do not plan to have sell to INR option yet  (We could down the line). Hence, bitcoin can only be withdrawn from your GoSats wallet to a bitcoin address or even to a lightning network invoice.

Thanks for your reply. I fudged up your registrant information and have edited that post based on @webtricks reply. Here are a few questions:

1.) What kind of user info will you need for legal compliance, if any?
2.) Is saffroncoin your old venture? How was the experience?

User can shop by just an email/mobile number. For buying bitcoin using INR, KYC is required.

Saffroncoin was the first cryptocurrency from India, pioneered a lot of technologies.

[pakhitheboss]

Hey!

My name is Roshan, the founder of GoSats. I came across this topic on this Forum and its really nice to see this engagement. I hope i can answer all your questions.

Thanks webtricks for issuing this post!

Our final website will look a lot different with the team page with various information provided. We are definitely not anonymous
You can find us on twitter : https://twitter.com/gosatsapp and telegram: https://t.me/gosatsapp

Our mission is to enable shoppers in India to stack sats with their daily INR purchases. We have some exciting features lined up that you can find out on the website: https://gosats.io

We recently launched the first of its kind in India, Bitcoin Wheel aka "Sats Spinner" that can give variable bitcoin rewards. These rewards will be redeemable during the application launch.

We'll be announcing some top brands in the coming days. I'd love to take feedback from you guys. If there are some features, merchants you'd like us to add, do let me know!

With UPI payments, buying bitcoin with INR is a breeze. No bank account pairing is required since we do not plan to have sell to INR option yet  (We could down the line). Hence, bitcoin can only be withdrawn from your GoSats wallet to a bitcoin address or even to a lightning network invoice.

Do feel free to reach out for any queries!
Happy to answer them!

-Roshan

Hey @Roshan, are there any plans to market your platform on BTT by organizing a signature campaign. I am sure you are aware how beneficial a signature campaign can be.

If yes, then when are planning to start?

[@prashant]

You have a giant competitor for your startup which is bitrefill as you can buy almost all well known services voucher from there and ya they provide cashback in sats as well but you might get an edge on adding upi and e-wallet support.

[pakhitheboss]

I just now wrote a review about this platform. Please go ahead and check it if you are interested. Here is the link  - https://bitcointalk.org/index.php?topic=5328618.msg56717350#msg56717350

[avikz]

Hey!

My name is Roshan, the founder of GoSats. I came across this topic on this Forum and its really nice to see this engagement. I hope i can answer all your questions.

Hi Roshan,

Many thanks for joining here! Welcome to this forum! I am a regular customer of Swiggy and I order almost 2-3 times every week. So I am wondering how can I earn rewards from my Swiggy orders. Do I need to spend using your own payment gateway or how it works?

Also if some brand wants to associate with you, how can they approach you and what documents will be required. Is it necessary of have an app in order to approach you guys?

Will appreciate your response!

[KryptoKings]

After reading some of reviews for this service I am going to give it a try.
Before I try it out, I have few questions that I would like someone to answer.
1. What is the minimum order to calim cashback offer
2. What is the minimum amount of btc that we can withdraw.
Many of similar services come with much hype and disappear after few days or months hence I won't want my btc to leave there and would prefer to withdraw as soon as possible.