Need advice before announcing my project

[Stelisto]

Hi everyone,

I would appreciate any advice or suggestions regarding the launch of my crypto project, so thank you in advance

First, let's start with some history, it started when I was trying to collect data for another youtube service project that have nothing to do with crypto.
I thought with the tools available today, getting a list of youtubers contact information wouldn't be a challenge, but after trying everything, I realized that mining data for startups like mine can be a promising business since then I have been working on my own solution and the idea kept evolving while developing the app, so now I have another challenge wish led me to crypto, the idea is to let users to create tasks for data collection, social boost, SEO, etc.. and pay a fair amount to users who perform this tasks, since the tasks are distributed to many users, the micropayments can't be done using paypal or similar service, so the first thing came in mind was lighting network, but when I shared the idea with the people that I know they have crypto experience, I realized that lighting is popular among crypto enthusiast, but my app is built for everyone, and believe it or not ethereum tokens are more popular nowadays because of NFTs and other projects.

The question is, should I use bitcoin lighting or create an erc20 token?

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[rat4]

Well, if you look for micropayments on a popular platform then on-chain fees should be too high, so lighting network.

[Tytanowy Janusz]

The question is, should I use bitcoin lighting or create an erc20 token?

not everything is worth decentralizing. It's worth to use decentralized solution for life savings (that's what bitcoin is for) but if your website is based on earning micro rates for short tasks, why not do it the old way and when the "employee" collects the appropriate amount in his account (for example after finishing 10 tasks), he will be able to withdraw in the crypto of his choice, incurring transfer cost yourself?

[Stelisto]

The question is, should I use bitcoin lighting or create an erc20 token?

not everything is worth decentralizing. It's worth to use decentralized solution for life savings (that's what bitcoin is for) but if your website is based on earning micro rates for short tasks, why not do it the old way and when the "employee" collects the appropriate amount in his account (for example after finishing 10 tasks), he will be able to withdraw in the crypto of his choice, incurring transfer cost yourself?

To be able to do that, I must take a higher commission, which is inconvenient for a startup, but the advantages of erc20 are worth exploring, first, you get funded, so goodbye to higher commissions, second, the crypto space is small and has a large community, so I can build a user base easy, last, I can focus on creating more services for business using the data we collect, and use part of the revenue to burn the token which benefit all the token holders.

[dimonstration]

The question is, should I use bitcoin lighting or create an erc20 token?

Bitcoin Lightning Network is more efficient to use compared to ERC20 due to the cheap fee and faster confirmation since it's an L2 chain which works faster to a L1 chain such as Ethereum. Your only challenge on LN is it's not popular because only few services accepts it.

Why not choose other Blockchain that charge cheaper fee and faster block confirmation such as BSC? Binance Smart Chain is as popular as Etherum in terms of userbase. You can  have tons of participants in that chain due to their reach community.

[Tytanowy Janusz]

To be able to do that, I must take a higher commission, ... , so goodbye to higher commissions

Why higher commision? You certainly won't charge more commission on $5 work if the ETH network transfer costs from $2 to $100.

first, you get funded, so goodbye to higher commissions,
second, the crypto space is small and has a large community, so I can build a user base easy,
last, I can focus on creating more services for business using the data we collect, and use part of the revenue to burn the token which benefit all the token holders.

It's nice to get funding for the idea itself, but it's not 2017 anymore. Dozens, if not hundreds, of projects promising miracles are created every day. Investors are already discouraged by this because they know that financing before the product is delivered is demoralizing (as developer, why provide the product for free - it was financed earlier - when you can promise another product and obtain further financing)

I believe that building utility on a new token by force increases the entry threshold for real users. You know, you want a job and you want to pay for it quickly, and not wonder where to get some low-liquidity shitcoin, pay for bridges and swaps. The same with platform workers.

By the way - you already have competitors:
https://www.microworkers.com/
https://rapidworkers.com/

[o48o]

The question is, should I use bitcoin lighting or create an erc20 token?

Bitcoin Lightning Network is more efficient to use compared to ERC20 due to the cheap fee and faster confirmation since it's an L2 chain which works faster to a L1 chain such as Ethereum. Your only challenge on LN is it's not popular because only few services accepts it.

Why not choose other Blockchain that charge cheaper fee and faster block confirmation such as BSC? Binance Smart Chain is as popular as Etherum in terms of userbase. You can  have tons of participants in that chain due to their reach community.

Or OP could just use ETH and Arbitrum , which is basically free compared to BSC, and BSC is basically a guarantee that no one will be investing. It's like a synonym for shitcoins, because every scammer has been using it since the beginning.

Scammers haven't moved in masses to cheaper alternatives like arbitrum that i know, for some reason. I guess it's just a matter of time.

[Stelisto]

To be able to do that, I must take a higher commission, ... , so goodbye to higher commissions

Why higher commision? You certainly won't charge more commission on $5 work if the ETH network transfer costs from $2 to $100.

first, you get funded, so goodbye to higher commissions,
second, the crypto space is small and has a large community, so I can build a user base easy,
last, I can focus on creating more services for business using the data we collect, and use part of the revenue to burn the token which benefit all the token holders.

It's nice to get funding for the idea itself, but it's not 2017 anymore. Dozens, if not hundreds, of projects promising miracles are created every day. Investors are already discouraged by this because they know that financing before the product is delivered is demoralizing (as developer, why provide the product for free - it was financed earlier - when you can promise another product and obtain further financing)

I believe that building utility on a new token by force increases the entry threshold for real users. You know, you want a job and you want to pay for it quickly, and not wonder where to get some low-liquidity shitcoin, pay for bridges and swaps. The same with platform workers.

By the way - you already have competitors:
https://www.microworkers.com/
https://rapidworkers.com/

I believe this project has a good chance because the vision is big, and the app will be ready before the announcement, so as an investor, you can test the live version of the app.
My plans for the token are simple, sell 5% to first-comers to evaluate the project cap, let's say one week, once it's done, we do a branding, and UX improvement and then deploy contracts and add the app to Chrome store, start with the whitelisting to sell 35% to the public, once this step is done, we start the market with same amount as liquidity, so now we used 75%, the rest 25% managed by the company to make sure the vision the data collecting is always available to offer more features and services.

What do you think?

[Stelisto]

The question is, should I use bitcoin lighting or create an erc20 token?

Bitcoin Lightning Network is more efficient to use compared to ERC20 due to the cheap fee and faster confirmation since it's an L2 chain which works faster to a L1 chain such as Ethereum. Your only challenge on LN is it's not popular because only few services accepts it.

Why not choose other Blockchain that charge cheaper fee and faster block confirmation such as BSC? Binance Smart Chain is as popular as Etherum in terms of userbase. You can  have tons of participants in that chain due to their reach community.

Or OP could just use ETH and Arbitrum , which is basically free compared to BSC, and BSC is basically a guarantee that no one will be investing. It's like a synonym for shitcoins, because every scammer has been using it since the beginning.

Scammers haven't moved in masses to cheaper alternatives like arbitrum that i know, for some reason. I guess it's just a matter of time.

Other chains may offer low fees or speed, but in the end, ethereum is the only one I can rely on after bitcoin.

[Wexnident]

~

I don't think you need to force crypto as a payment method using crypto, afaik there have already been quite a few (from what I know) websites that offer short tasks, especially in cases where it's only micropayments. You don't have to do all that shmuck about tokenomics, whitepaper, documentation, etc, and could just, well, proceed to create the site itself and promotions for it. You can still use crypto as a payment method, but you can use well known crypto as payments instead like Bitcoin, ETH, etc.

~

I believe this project has a good chance because the vision is big, and the app will be ready before the announcement, so as an investor, you can test the live version of the app.
My plans for the token are simple, sell 5% to first-comers to evaluate the project cap, let's say one week, once it's done, we do a branding, and UX improvement and then deploy contracts and add the app to Chrome store, start with the whitelisting to sell 35% to the public, once this step is done, we start the market with same amount as liquidity, so now we used 75%, the rest 25% managed by the company to make sure the vision the data collecting is always available to offer more features and services.

What do you think?

See here's the mistake in most people's thinking when they're creating a new project. It does not matter how much damn you give in your project, you're not the one investing, it's others, so stop with that self-hypnosis that the project would do good. It's also unrealistic how the project relies on investors before fully launching. At the very least, do a full launch, and then look for investors. We're way past that stage where people blindly invest in new projects imo.

[Ever-young]

We never can really tell what’s really the best choice for our customer until we try them out or have some survey questions passed out to them all to see what their choice could be.

I see that a member have already suggested you making provision for multiple withdrawal option for the choices which you are thinking on to choose. When it come to withdrawal especially in a system where the user will have to be earning little by little, and the withdrawal can be very small unit most times, it will be much more appreciated if you can make provision for a payment option that can cost the customer less, maybe after making provision for lightening network and ERC you can also add network like LTC and trc as they also have a lower transaction fee and is popular accepted in most major exchanges so your users can choose from the option when they want to make a withdrawal.

With time, if the system has seen any of the most popularly used network by your users, you can then disable the rest of it that are not being used that’s if they are costing you for them to be their.

[Stelisto]

I thought that creating a token as payment would accelerate the launch of the app, but instead, the token will limit the options for the users, so the way to go is to start with multiple payment methods like binance pay, coinbase to cover most of the coins.

Launching without funds is no fun, but it can be done.

I created a discord server for the project if anyone is interested in joining. https://discord.gg/JdKuSADG