[2015-03-16] CS - App Pays You in Bitcoin Based on Intensity of Your Workout

[kaegmo]

Chaotic Moon Studios, a creative technology studio in Austin, recently launched a next-gen fitness application named FitCoin that lets users earn Bitcoin while exercising. The iOS app measures the length and intensity of a workout and converts it to CPU time on a bitcoin mining rig. The more users workout, the more digital currency they mine.

http://www.coinspeaker.com/2015/03/16/meet-fitcoin-app-that-pays-you-in-bitcoin-based-on-intensity-workout-7724/

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[no141]

Apparently apple has not approved it yet. I can't find it in the appstore. It would have been nice to cycle down to SxSW using the app, and finding the designers there marketing it. I even searched for the makers, and they only have a Hello Kitty Checkers app--I don't know what to think of that after seeing the promo video.

Is the app anywhere? I'm jailbroken so from the website directly would be fine.

[lyth0s]

There is no real details there but I don't see how this will pan out long term. If it relies on fitness hardware eventually the hardware will be hacked so that people can reap maximum bitcoins per day without doing the workout. Also who will be paying for the bitcoins "mined on a cpu", which has multiple problems.

1) Why mining on a CPU?
2) Are you creating an altcoin that is being mined on the CPU that is then supposed to be traded for BTC (and thus lowering its value everday)?
3) Who is paying for the CPU's?
4) Who is paying for the electricity?
5) What benefit does the app developers receive from all of this?

[1Referee]

I like how people get motivated by Bitcoin to start new and some times very weird but exciting projects.

Reading that article makes me think they already have a contract with adidas in their mind while basically they haven't done much. Action speaks louder than words.

Let them first invest a good bit of time and money in getting everything stable and working before day dreaming about cooperating with large companies.

[indiemax]

Great idea,will have to get my son to do this as he is insane at workouts 

[RodeoX]

Mine with extra CPU cycles on a phone? 

You should be able to earn a Satoshi for every 100k miles you run then.

[Kakmakr]

I have seen this type of thing in a Alt coin. I think it's called MangoCoin or something
You have a App on your phone and it generates coin based on your movement. You can shake the phone to mine coins or something like that. It was a cool idea ^smile^
Have anyone tested this?

[no141]

Sadly, as I read more about this, it's only for three $100+ devices so far. Two don't even seem to be released yet. This was announced way too soon. And they really should make an effort to support existing bluetooth, across the chest, heart monitors.

I accidentally just searched for fitbit on the appstore, and I was like whoa it's out, untill I saw it had nothing to do with bitcoin. Fitcoin still not in the appstore. Maybe fitbit could start paying for workouts in bitcoin 

[okthen]

It's an interesting idea, but I don't think it's going to work.
First, they accept very few devices, most people have maybe a heart rate monitor with no bluetooth connection.
Then, I only would see it as really motivational (personally) if I could also LOSE money - skipping workouts, not bringing it... that way you could increment the amounts offered.

[PolarPoint]

This is potentially a very nice app for people who exercise everyday. Work out, get free bitcoin, and buy an energy drink with the free coins. I doubt they are giving away enough to buy bottled water.  

[no141]

It's probably going to pay dust even for an intensive workout. I like the idea but to really motivate people, the reward has to be significant, i.e. you'd have to be able to buy at the very least an isotonic drink or a protein bar after an hour of running the app.

If insurance companies put it out it wouldn't pay dust. Take bluecross, they have a website to log things, report activity, etc, for points. With these points, you can easily get hundreds of dollars worth of stuff from their catalog. The problem here, is no one that you will be paying for insurance is going to be backing it. So instead it's the marketing dollars they can generate. I truly doubt at this time if you'll ever recoup the cost of the new monitoring device you will have to get.

It's an interesting idea, but I don't think it's going to work.
First, they accept very few devices, most people have maybe a heart rate monitor with no bluetooth connection.
Then, I only would see it as really motivational (personally) if I could also LOSE money - skipping workouts, not bringing it... that way you could increment the amounts offered.

Awesome, a couch potato penalty working against your balance.

[RodeoX]

It's probably going to pay dust even for an intensive workout. I like the idea but to really motivate people, the reward has to be significant, i.e. you'd have to be able to buy at the very least an isotonic drink or a protein bar after an hour of running the app.

If insurance companies put it out it wouldn't pay dust. Take bluecross, they have a website to log things, report activity, etc, for points. With these points, you can easily get hundreds of dollars worth of stuff from their catalog. The problem here, is no one that you will be paying for insurance is going to be backing it. So instead it's the marketing dollars they can generate. I truly doubt at this time if you'll ever recoup the cost of the new monitoring device you will have to get.

That's an interesting idea. Maybe an insurance company would fund something like this? My wife and I each get $100 per year because we are in a CSA that delivers organic farm products.

[crazyearner]

Am sure this apps been posted a fair few times now and no devs around for months and it only surfaces from being out since last year no word them, Then poof ads and details here their everywhere about it and no devs to update on problems with wallet and system

[Kprawn]

I like this idea. 

If you look at the global Obesity statistics for 2014 {Source : http://www.who.int/mediacentre/factsheets/fs311/en/} you would notice that more than 1.9 billion adults, 18 years and older, were overweight.
{I cannot confirm the accuracy of these statistics, but it is a reality and a big problem}

So any incentive for people to excercise, even to receive money for their efforts, are welcomed.  ---> I can already see this marketting slogan ...."Run yourselve out of debt with Bitcoin"

Start the treadmill and run the debt into the ground.