[AMA] I am the founder of BitcoinRewards.com.au, a new cashback site that rewards members with Bitcoin

AssociatedLBitcoinRewards @ BitcoinRewards on 04/11/2017 - 19:54
Last edited 05/11/2017 - 23:18 by 2 other users

Hello Ladies and Gents,

I think cashback rewards are great - but bitcoin rewards are better :)

I am working on a cashback site that works extensively with Bitcoin. I'm based in Queensland and have been involved in the bitcoin scene since 2013. I want to assist in making bitcoin accessible to everyday Australians.

I believe we can help remove a barrier to entry for Australians that want access to bitcoin and other digital currencies. Essentially we plan on rewarding Australians with bitcoin for what they are already doing - shopping online.

I welcome your feedback, opinions and any questions on bitcoin and/or bitcoinrewards.com.au - please note the service has not yet launched, our devs are busy working on the development and the existing domain directs users to a waiting list so we can inform them when we launch.

Regards

Kahn

Introduce Yourself

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BitcoinRewards
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closed Comments

  • gpmd1257 on 06/11/2017 - 09:13
    +2

    This is a good idea especially for people like myself who's into Bitcoin and other crypto, i have to thank Bitcoin and alt coins for an early retirement. Hey op, if it's like a cashrewards.com.au but paid with Bitcoin, i'm interested as i would rather receive Bitcoin as reward since it still hasn't reached it's full potential, so happy that the price of 1 Bitcoin is AUD $10,000.

    • AssociatedBitcoinRewards @ BitcoinRewards on 06/11/2017 - 12:11

      Thanks for your positive feedback gpmd1257. We don't want to draw too many comparisons with competitors, but I'm sure you will like our business model once you see it action!

  • cyrax83 on 06/11/2017 - 09:41

    Side question:

    1. I'm new to the bitcoin scene and purchased a small amount through BTCMarkets at 9.5k AUD. When do you see a new investor should be jumping in? Will there be a large crash to 6k USD in the next 10 days because of the fork?

    2. I've ordered a Ledger but won't arrive in time. As BTCMarkets (I don't think) is supporting the fork with free coins, where should I move my small amount of bitcoins to get the additional forked coins?

    3. Any other tips?

    • gpmd1257 on 06/11/2017 - 10:11
      +3

      Sorry op, hope you don't mind me answering to this.

      1) Hey cyrax83, glad to you give my opinion but disclaimer first (this is not financial advice, do your due diligent and ONLY invest in what you can afford to lose). I'm more of a swing & position trader so the best time for me to buy is when it dips 10-20% or more, this is my general rule and normally i would have multiple entry points which means once it dips 20% i won't use ALL my funds to buy. I would use 1/3 to buy when it drops 20%, another 1/3 when it drops an extra 5% which is 25% and final 1/3 if it drops even more, this strategy suits my personality because that way i can buy close to the lowest price and not regret about it.

      2) Hmm, i didn't bothered about the extra free coins as i made more when ppl moved their bitcoin back to the alt coins, but i use Bread Wallet which is on IOS on my iphone. I was also surprised that Coinspot Australia gave out free Bitcoins Gold to my account during the last fork because I had some bitcoin sitting around as normally exchange don't do that and they keep it themselves. Can't complain

      3) Tips? Rule 1 - don't let greed get to you, do your due diligent and ONLY invest in what you can afford to lose. <— this should be a rule like Fight Club haha.

    • AssociatedBitcoinRewards @ BitcoinRewards on 06/11/2017 - 12:19

      Hi Cyrax83

      I wont make recommendations regarding trading, investment or the fork - however my best tip is to focus on security and it appears you are on the right track with purchasing a Ledger.

      Thanks for the interest in the thread and my project :)

    • owli on 06/11/2017 - 19:08
      1. Just dollar cost average in if you want to invest, it would not be strange at all for BTC to dip 40% to 4500usd here, see chart.
      2. Bitfinex, potential risk holding here with their USDTicking_time_bomb
      3. I will probably put some fiat aside in Bitfinex closer to the fork block and move a smaller percentage to bitmex to short the perpetual swap BTC futures, something like this.

      Right before the fork

      Buy 1 BTC on Bitfinex
      Short 1 BTC (with 0.2BTC at 5x leverage) on Bitmex

      Gain B2X without exposing yourself to the price fluctuations

      • mungicide on 07/11/2017 - 15:17

        has anyone done bitcoin arbitrage? would that be worthwhile with different rates on different exchanges? or would transaction fees eats into them

        • owli on 07/11/2017 - 16:07

          has anyone done bitcoin arbitrage?

          I did that a few years ago by buying on btc-e and selling on localbitcoins, btc-e traded at a discount most of the time.
          What arbitrage opportunity do you see at the moment?

          or would transaction fees eats into them

          That, and you need good fiat channels, as most of the arbitrage opportunities are with exchanges overseas.
          Large international bank transfers + hard to get a good fx rates unless you lie and say the transfer is not for Bitcoin.

          When price is moving up quickly I find localbitcoins can trade at a premium and you may be able profit by buying on local exchanges and selling on localbitcoins.

  • grog on 06/11/2017 - 10:57

    spam

  • imahapyboy on 06/11/2017 - 12:22
    +2

    I wanna buy BitCoin! can you guide me to any secure site???

  • idonotknowwhy on 06/11/2017 - 12:55
    +2

    lol @ the example Name being "Satoshi Nakamoto"
    Some questions before I sign up:

    I assume this works like cashrewards.com.au, in that we build up a balance of bitcoin, and then after a certain amount is confirmed, we can withdraw to a wallet address (like mining pools do).

    1. How do your rewards compare with cashrewards.com.au?
    2. What's the minimum confirmed BTC balance required to cash-out?
    3. Can we cashout in altcoins (with lower transaction fees) or does it have to be bitcoin (which is currently more suited to larger transactions than cashback)?
    4. What websites will you offer cashback for? Ebay would be nice :)
    5. Do you have any Verification Of Identity (VOI) or any other Anti Money-Laundering (AML) requirements?
    6. If no to question 5, does any part of the process prevent us from using a pseudonym firstname and lastname? I assume you guys don't mind that, since your example name is Satoshi Nakamoto, which is a pseudonym.
    • AssociatedBitcoinRewards @ BitcoinRewards on 06/11/2017 - 15:40
      +1

      Hi idonotknowwhy

      How do your rewards compare with cashrewards.com.au?

      It wouldn’t be wise for us to draw a comparison to cashbackrewards.com.au, we’re big fan of what they do – but we think we can put a real spin on how cashbacks work. We aim to reward our shoppers well, without shoppers and merchants – there are no bitcoinrewards, they are truly the bread and butter of the business. We have very low overheads and that’s another advantage to ensure we maximise the user payout.

      What's the minimum confirmed BTC balance required to cash-out?

      We’ll keep the minimum confirmed BTC balance for cash out as low as possible. This will be dictated by bitcoin network fees. At this stage, I believe we achieve a figure of around the $10.00 mark, but it’s not set in stone- we aim to push as low as possible. Being agile we can adapt very quickly if it makes economic sense. We’re monitoring the trend of bitcoin network fees closely.

      Can we cashout in altcoins (with lower transaction fees) or does it have to be bitcoin (which is currently more suited to larger transactions than cashback)?

      I’m really keen to add alternatives to bitcoin – lots of strong contenders with fast transactions and low fees. We’ll take it step by step and keep it simple to start with, but I can foresee Ethereum, Neo, Bitcoincash and many others being added quickly. We’ll most likely create a regular poll once we grow the community around our service.

      What websites will you offer cashback for? Ebay would be nice :)

      The aim is to add as many reputable merchants/advertisers as possible – I am all about giving people choice. We’re working with industry professionals to ensure we put our best foot forward with merchants/advertisers. This is an ongoing process, and we want to avoid the announcement of an announcement scenario however our expectations are high.

      Do you have any Verification Of Identity (VOI) or any other Anti Money-Laundering (AML) requirements?

      A parliament committee updated an AML/CFT bill with revisions that now include bitcoin exchanges under Australian legislation. We’ll be working with legal professionals this week to determine the applicable category we operate within. There is a six month period expected (from date of announcement) before the legislation is updated. We value anonymity, however we will ensure that we are compliant with all government regulation.

      If no to question 5, does any part of the process prevent us from using a pseudonym firstname and lastname? I assume you guys don't mind that, since your example name is Satoshi Nakamoto, which is a pseudonym.

      If we deem verification of identity required - we'll request that closer to the time. In the interim feel free to join us - up to you :)

      • idonotknowwhy on 06/11/2017 - 16:19

        Sounds good, I'll give it a try.

        • apey2000 on 06/11/2017 - 20:10
          +1

          me neither!

  • Mysterious on 06/11/2017 - 13:01
    +1

    Tough crowd here. I really like the idea.

    • idonotknowwhy on 06/11/2017 - 13:21
      +4

      Always a tough crowd regarding crypto on ozbargain.
      Try posting about mining in the GPU deals and watch the negs flow!

      • gpmd1257 on 06/11/2017 - 17:05

        wow really? didn't know about that, i hardly seen crypto mentioned anyway in the forums so quite surprised when i saw this post and got me excited.

        • idonotknowwhy on 06/11/2017 - 17:51
          +1

          You missed my crypto-related post, which made it to the front page:
          https://www.ozbargain.com.au/node/322526

          I originally posted it as a [targetted] which copped me some flack lol.

          But yeah, next time there's a GPU deal, post the optimistic estimated ROI mining ETH (whattomine) and you'll get neg'd :D

        • gpmd1257 on 06/11/2017 - 20:05

          @idonotknowwhy: gosh i would have up vote you if i saw that post. ok i see some users saying it's not a bargain, hmm is getting something free a bargain? I saw some other post getting free stuff is a bargain and getting up vote, so i would expect your post is a bargain. Oh well, as op say, tough crowd indeed.

    • AssociatedBitcoinRewards @ BitcoinRewards on 06/11/2017 - 15:45
      +3

      Yes, tough crowd - but we have to acknowledge the criticism (good and bad) to ensure we learn from it. We're grateful for the contributions to the thread.

      • iDroid on 08/11/2017 - 13:59
        +1

        Excellent attitude.

  • Zondor on 06/11/2017 - 14:16
    +1

    Does Jesus approve of bitcoin?

  • luffyex2010 on 06/11/2017 - 21:12
    +1

    Sigh, missed the bitcoin boat.

    Could have been a billionaire if I didnt spend my money on a ps2 and xbox.

    • idonotknowwhy on 06/11/2017 - 21:35
      +1

      People said they missed the boat at $1, $10, $100, $1000. People will say it at $10,000 and $100,000 as well. If you have even a lazy $200 kicking about, you could buy a portion of a BTC now, and it might be worth $200,000 one day :)

      https://coinmarketcap.com/

      Total crypto market cap (bitcoin, ethereum, and all the altcoins) is just under 200 billion.
      Apple's market cap is about to hit 1 trillion.
      IMO, it's still early days. People said they missed the boat when it reach $1, $10, $100, $1000. If I'm right, they'll say it at $10,000 and $100,000, $1,000,000 too.

      • Cluster on 07/11/2017 - 11:12

        This is exactly what makes bitcoin terrible to use as a currency. If it's always going up in value versus dollars/yen/etc, why would you ever spend one? You would be utterly stupid to do that. Instead there is every incentive to hoard and never spend.

        • idonotknowwhy on 07/11/2017 - 12:01
          +1

          This is exactly what makes bitcoin terrible to use as a currency. If it's always going up in value versus dollars/yen/etc, why would you ever spend one? You would be utterly stupid to do that. Instead there is every incentive to hoard and never spend.

          Let's just say I learned my lesson, and regreat buying brunch + coffee using bitcoin at a cafe in 2013 :(

        • Cluster on 07/11/2017 - 12:24
          +1

          @idonotknowwhy: I had bitcoins as far back as 2011. Traded all of them for dollars to cover mining costs, etc. Virtually no one thought they'd be worth so much now. Sure, there was the odd nutter on BitcoinTalk who claimed bitcoin will be worth US$1M one day, but very few people actually believed that. Now I hold every cryptocurrency I can get and hope I too will hit the speculation lottery one day.

        • idonotknowwhy on 07/11/2017 - 12:33

          @Cluster: +1 for holding every crypto you can.
          I bought a tiny amount of this in March: https://coinmarketcap.com/currencies/chaincoin/
          Absolutely no way to predict what happened to it in April -> July, and much better than buying lottery tickets.

      • sghetti on 08/11/2017 - 14:53
        +2

        A guy I work with paid for a Asus ROG laptop with 2500 bitcoin in 2011 or 2012 :O

        The laptop is currently worth $25,000,000… OzBargain fail of the millenium.

        • idonotknowwhy on 08/11/2017 - 15:06

          Makes me feel a little better lol
          Though I deleted a couple of bitcoins a little earlier than that :(

        • sghetti on 08/11/2017 - 16:32
          +1

          @idonotknowwhy: The worst bit was that he sent an additional 100 bitcoins by accident. They called him and asked how he wanted to be refunded. Have the bitcoins returned or receive $60 in cash. He chose the cash…

    • gpmd1257 on 07/11/2017 - 11:49
      +1

      It's never too late to start, this is better than housing. At least you don't need a $100k for a deposit. You don't need to buy 1 Bitcon, just start with $100 or $200. I pretty much just took the money that i buy quick pick lotto every week, instead i buy crypto. I think i have a better chance of prices going up than lotto. Bitcoin has become more of digital gold than digital cash due to the fact that it acts as a store fo value better than currency due to flucatations and high fees.

  • jpee on 06/11/2017 - 21:35

    What happen to the old days when Bitcoin was only used on Silkroad

  • plasmoske on 06/11/2017 - 22:02
    +3

    Call it CryptoRewards and I'd use it. Hate bitcoin as a currency - fees too high and transactions too slow. Something like ETH or even BCH is much better.

    • AssociatedBitcoinRewards @ BitcoinRewards on 07/11/2017 - 08:41

      Hi Plasmoske

      Other digital currencies will be available on the platform. I'm a big fan off onchain scaling. But we will let our members make the choice what methods they desire to earn rewards with. Main aim is to enable Bitcoin and BitcoinCash at launch.

      Thanks for the feedback. :)

      • idonotknowwhy on 07/11/2017 - 08:57

        You should do DASH. Instant and effectively free transactions, plus it's a top-10 coin.
        Bitcoin-Cash is garbage.

        • AssociatedBitcoinRewards @ BitcoinRewards on 07/11/2017 - 08:59

          Dash is on the radar for sure. :)

      • AssociatedBitcoinRewards @ BitcoinRewards on 07/11/2017 - 10:16

        Grr fat fingers. I'm a big fan of on-chain scaling

        • idonotknowwhy on 07/11/2017 - 12:02

          Grr fat fingers. I'm a big fan of on-chain scaling

          You mean vs lightning network / segwit?

        • AssociatedBitcoinRewards @ BitcoinRewards on 07/11/2017 - 13:19
          +1

          @idonotknowwhy: I like the idea of onchain scaling. But I'm not one to bust out the pitchfork and push my ideology on other people in regards to individual coins. I'm in the digital currency vs fiat camp, rather than digital currency vs digital currency camp.

        • plasmoske on 09/11/2017 - 14:16
          +1

          @BitcoinRewards:

          Have a look into OmiseGo in the future.

          Is the future of online payments/ewallet. Accepts any currency and has a minimum of 1million tx/s.

  • redslert on 07/11/2017 - 01:41
    +1

    So you've very much just stolen the idea from here: http://www.bitcoinreward.net/

    • AssociatedBitcoinRewards @ BitcoinRewards on 07/11/2017 - 08:48

      Hi Redslert.

      Not at all.

      I don't have much interest in our members watching videos, playing games or doing surveys - not an area I will be focusing on.

      Thanks for your feedback :)

      • [Deactivated] on 07/11/2017 - 10:52

        I believe the comment was about the method, not products.
        However, in all fairness, I would not say "stolen the idea" - e.g. opening a new convenience store is not "stealing the idea" from owners of other convenience stores.

        • AssociatedBitcoinRewards @ BitcoinRewards on 07/11/2017 - 10:57

          I welcome any comments and will do my best to clarify. Method or product… I think it's clutching at straws a little bit.

        • [Deactivated] on 07/11/2017 - 11:26
          +2

          @BitcoinRewards: Marketing 101 really (not a question, no need to respond).

      • vodkaman on 07/11/2017 - 21:39

        what lol!? - can you elaborate

  • smpantsonfire on 07/11/2017 - 08:54

    Some people are salty about missing the beginning aren't they!

    • AssociatedBitcoinRewards @ BitcoinRewards on 07/11/2017 - 09:02
      +1

      A little bit of salt flying around - but the trend is in a positive direction.

  • AssociatedBitcoinRewards @ BitcoinRewards on 07/11/2017 - 09:17

    Anyone having a flutter on the Cup today? I'm backing #4 Tiberian

    • idonotknowwhy on 07/11/2017 - 09:58
      +1

      I'd rather put my money on an altcoin like VTC or ZEC ;)

      • smpantsonfire on 08/11/2017 - 17:04

        Why vtc?

        • idonotknowwhy on 08/11/2017 - 17:05

          Made me some money recently. Any reasonable low-cap alt will do though.

        • smpantsonfire on 08/11/2017 - 17:08

          @idonotknowwhy:

          Nice yeah I mined this about 3 years ago and forgot about it. Now I find the wallet and I like the price again. Wondering whether to sell or just keep holding it.

        • idonotknowwhy on 08/11/2017 - 20:39

          @smpantsonfire: if you really can't decide, sell half. Some profit taking is healthy.

          Imo, it'll go down. I think the HODL movement hit it. They did chaincoin earlier. Look at it's chart on coinmarketcap.com

    • Cluster on 07/11/2017 - 11:15
      +1

      Max Dynamite. Explosive pace over 3200m. Sure to blow up.

      • pennypincher98 on 07/11/2017 - 20:04

        Looks like you got third, congrats!

        I'm borderline depressed I lost $18 I could have invested into crypto :D

  • unclescrooge on 07/11/2017 - 09:49

    When do you think bitcoin bubble will burst?

    • idonotknowwhy on 07/11/2017 - 10:36

      When do you think bitcoin bubble will burst?

      Around the same time the property market bubble bursts

    • [Deactivated] on 07/11/2017 - 10:54

      Being able to accurately predict it would make you a millionaire overnight.
      Meanwhile what is know is that Bitcoin is very volatile compared to (most) local currencies.

      • AssociatedBitcoinRewards @ BitcoinRewards on 07/11/2017 - 11:34

        Yes - bitcoin is volatile. It's important people do a little bit of research. With volatility comes opportunity.

        • [Deactivated] on 07/11/2017 - 11:54

          No amount of research can accurately predict how this volatility will continue into 2018 and beyond.

          In the spring of 2013 the price of bitcoin dropped 71% overnight. Is it going go up by 71% tomorrow? Would you invest in a fiat currency knowing that it can go up or down by that much overnight?

          Or, as Dirty Harry would say: "you've gotta ask yourself one question: "Do I feel lucky?" Well, do ya, punk?"

          https://www.buybitcoinworldwide.com/price/

  • myusername on 07/11/2017 - 13:13

    nice idea, but sorry it sounds dodgey

    • AssociatedBitcoinRewards @ BitcoinRewards on 07/11/2017 - 13:23
      +1

      Hi Myusername, Thanks for the comment - I'll leave you with this to ponder on:

      1998:
      - Don't get in strangers' cars
      - Don't meet ppl from internet

      2017:
      - Literally summon strangers from the internet to get in their car (Uber)

      :)

      • JelIyfish on 07/11/2017 - 13:33

        You're like teflon which is great for forum banter but definitely not someone I'd want to do business with!

        • AssociatedBitcoinRewards @ BitcoinRewards on 07/11/2017 - 13:34

          That's cool - you have a choice :)

        • [Deactivated] on 07/11/2017 - 13:48

          @ScJ: it appears that you may not be alone. The crucial piece of the jigsaw, the list of shops / retailers / organizations, etc, participating in the scheme is… well, pretty short (as in: how many? none?). But do not despair, the OP is "working closely with some recognisable Australian names" and will let everyone know "closer to launch". Maybe… they also "have choice"?

          I know, I know, tough crowd, right?

        • AssociatedBitcoinRewards @ BitcoinRewards on 07/11/2017 - 14:05

          @Occam Razor: Is this another one of your "not a question, no need to respond"? This AMA was about introducing myself and my project. I've made my comments pretty clear to date. You've made a strong point you are not a fan (of me, bitcoin, rewards, all?). Everyone has a choice, sure. Thanks for your continued contribution.

        • [Deactivated] on 07/11/2017 - 15:39

          @BitcoinRewards: I was responding to @ScJ.

      • pennypincher98 on 07/11/2017 - 20:06

        Have a +1 this is an awesome point.
        I never use Uber personally as it goes against everything I've ever been told.

      • redslert on 07/11/2017 - 21:22

        This is stupid analogy.
        I know exactly who's car; what car; picture of driver; GPS tracking; number of trips his driven; driver rating… Uber supplies all this information.
        It is a 'stranger' but hardly unknown.

        It's like saying a doctor is a stranger… but we all continue to see doctors and have done so for over a hundred years.

  • gezza90 on 07/11/2017 - 13:26
    +1

    I don't like where this world is headed. Artificial intelligence, digital currency, online banking, tap n go… We are creating more problems than introducing viable solutions. While I have my own concerns about the dangers of AI, this digital currency is just as bad. In fact some Harvard professors referred to it as an act of terrorism. If the whole world eventually goes cashless, there is a risk (on a catastrophic scale) that we could lose our money no matter how safe or secure Bitcoin is. I think we need a whole paradigm shift away from constantly advancing technology or at least a reality check. We're in this constant cycle of trying to improve and push the capabilities of technologies when at the same time we're creating other problems. I guess this topic can go deeper leading into the purpose of life, religion and so on.

    • AssociatedBitcoinRewards @ BitcoinRewards on 07/11/2017 - 13:38

      Hi Gezza90

      I respect your comment - although it is quite broad and could take on a life form of it's own… but I think it's about giving people options and letting them make decisions that best suits the lifestyle they want to live. I love talking politics, religion and all those things that your not supposed to talk about - but probably not best for this thread.

      I do think it's nice to "switch off" from tech and the busy world we live in - sometimes you've got to reconnect with mother nature, and that's what I intend on doing this afternoon!

      Thanks for you input :)

    • Cluster on 07/11/2017 - 13:38

      Cash isn't very secure. It can be stolen or burned. Its value can be inflated away (dozens of famous examples during the 20th century, Zimbabwe/Venezuela in the 21st). The cash itself can be suddenly declared invalid by the government or invading forces.

      Driving to work just now I heard news about the sentencing of two murderers in northern Adelaide who murdered a pensioner. Why? He had $100k stashed in cash at his house. Imagine if that money was stored in a bank. No motive for murder, no murderers.

      Gold and silver can still be purchased in bar or bullion form if you're concerned.

      "I guess this topic can go deeper leading into the purpose of life, religion and so on"

      I really hope not.

      • [Deactivated] on 07/11/2017 - 13:59
        +1

        Nothing is totally secure. Specially if you live in Zimbabwe or Venezuela.

        However ask yourself: what was the largest drop in the value of Australian Dollar you remember, and when was that? Compare: in 2013 the price of bitcoin dropped 71% overnight (yes, often it also goes up). More detailed info (select any period you like):

        https://www.buybitcoinworldwide.com/price/

        • Cluster on 07/11/2017 - 15:10

          Bitcoin is incredibly volatile, and I have watched the price since early 2011 so yes, I have watched 50%+ daily falls several times during that period. I vividly remember the 100% fall in 2011 due to the MtGox hack too, as I was watching it happen live.

        • gpmd1257 on 07/11/2017 - 16:24

          @Cluster: thats why i've been telling most of my friend that Bitcoin now is more of a high risk high returns investment/trading asset than a currency, it might become less volatile to be a currency once there's lots of money in it. For now it's a small raft and easily affected by the rough seas compared with the large tanker/ships like USD/EURO. Also most people and investors has agreed that putting 1% of your portfolio in high risk high returns is acceptable.

  • lancedefrance on 07/11/2017 - 18:59

    Not sure if this is already covered but how does the cash back system work? I am one of the few OZB members that dont use cash rewards but assume that merchants would give you a % back if people came through your site and you pass part of that back to the buyer correct?

    • AssociatedBitcoinRewards @ BitcoinRewards on 08/11/2017 - 13:48

      Hi lancdefrance, You've pretty much summed it up. My job is to ensure we promote merchants/advertisers on site and send them customers. In return the merchant/advertiser pays bitcoinrewards.com.au for the service and we reward the customer in the form of bitcoinrewards for taking the time to use our service.

      Thanks for you question :)

  • laurence on 07/11/2017 - 21:51

    will you also accept eth/ltc

    btc fees are too damn high

    • idonotknowwhy on 08/11/2017 - 11:54

      I asked this earlier. They'll add some altcoins later, and the OP seems very pro bitcoin-cash, so will probably add this soon.

      • laurence on 08/11/2017 - 14:47

        ah awesome, thanks

  • Switchblade88 on 08/11/2017 - 00:08

    I like your push for crypto accessibility, but I would suggest a rewards spending site is probably not the most viable place to start a business - after all, you are looking at like 1% for several sites when comparing to CashRewards' existing returns. Considering that the method of payment to consumers is essentially irrelevant to the business model - exchanging site traffic for a buyer's discount, essentially - then perhaps you should be investigating alternative & additional business propositions as well?

    Not negging you at all, and as an enthusiast crypto investor I can clearly see the long term investment in addition to the immediate benefits of accessibilty & availability etc… but when you where asked what stores you've got on board, your vague answer was not inspiring confidence in your business. You haven't offered me any incentive to change my habits from CashRewards, UNLESS there's bigger discounts/new stores/some other advantage. But you haven't shown that yet.

    My next work project is to implement crypto acceptance at our local bakery. This is trivial to implement, train staff, setup hardware already in use. Crypto is an accessory to an existing business, not an avenue to a new business model. The business should stand on its own just fine with our without alternative methods of currency accepance & payment, and in your case (and given the harsh truths from the OzB hivemind) we need to see your concrete evidence before taking a chance.

    • AssociatedBitcoinRewards @ BitcoinRewards on 08/11/2017 - 14:26

      Hi Switchblade88 - You've made some great points and they are well noted.

      This is a combination of business and passion. They say "Love what you do and never work a day in your life".

      BitcoinRewards is an avenue for Australians to earn bitcoin without having to purchase bitcoin. It's not about trying to raid the client chest from other reward sites, I think we can bring new people to the reward eco-system that are looking for something different than cash or shopping points + we may pickup a few people that want a change from their existing platform along the way.

      In regards to merchants, I'm working closely with industry professionals to continue on-boarding of merchants/advertisers - it would be foolish of us to drop names whilst we are still building these relationships - but I can understand a potential members desire to know who might me on the cards.

      Two sided market places are no easy feat, they require the on boarding of customers and merchants/advertisers - chicken and egg really. We've worked hard to ensure we are beyond the infancy stage of this scenario, but this is no way complete, it will be a continued and ongoing effort well beyond launch to ensure we grow both sides of this equation.

      Come check back in with us in a couple of months and see what you think then, you might like what you see.

      Thanks again for input.

  • [Deactivated] on 08/11/2017 - 00:34
    +1

    Absolutely disgusting to see how hard certain people who may or may not be linked to Cashrewards are trying to bring this business down.

    Also, LOL at all the 60 year old baby boomers bashing on Bitcoin and crypto in general because they can't wrap their stubborn heads around it.

    • gpmd1257 on 08/11/2017 - 03:44

      can't blame the baby boomers, humans in general are less susceptible to changes once they hit a certain age. Its like the time when humans were trading 5 chickens for 1 cow and you tell them that now you have to use pieces of yellow metal to trade for 1 cow, that took a while for humans to accept, just as they were starting to be comfortable with that idea, suddenly they were told to use pieces of paper to trade for 1 cow and that also took a while for humans to adapt.

    • [Deactivated] on 08/11/2017 - 08:27

      duplicate removed (can not delete post)

    • idonotknowwhy on 08/11/2017 - 11:53

      Could just explain it like this:

      House prices always go up, bitcoin price always goes up. Both are always in a bubble, and always will be.

      • iDroid on 08/11/2017 - 11:57

        This is so true …. until it isn't.

        Who likes tulips? I think black swans like tulips.

        • idonotknowwhy on 08/11/2017 - 11:59

          This is so true …. until it isn't.

          Exactly. Seems like a good way to describe bitcoin to the boomers.

        • AssociatedBitcoinRewards @ BitcoinRewards on 08/11/2017 - 14:34

          Now I certainly wouldn't want to debate historians arguments from the last couple of hundred centuries, but reality often becomes distorted. Take a look at this if you get the chance as it may be of interest: https://www.smithsonianmag.com/history/there-never-was-real-…

        • [Deactivated] on 08/11/2017 - 16:25

          @BitcoinRewards: Very good reading, thanks for sharing! Indeed, history teaches us many lessons. Here is another one - The Danger of Extrapolation:

          ‘Great Horse Manure Crisis of 1894’: in 1894, The Times newspaper predicted: “In 50 years, every street in London will be buried under nine feet of manure” http://www.historic-uk.com/HistoryUK/HistoryofBritain/Great-… Well, it never happened, there is practically no manure on the streets of London.

    • iDroid on 08/11/2017 - 12:05

      Actually, it may be that they're justifiably sceptical.

      Bitcoin/crypto-currencies are not the firs asset class to experience similar growth. History has shown that most if not all other asset classes that experience similar growth did not sustain it for very long and collapsed back to their intrinsic value.

      Crypto currencies have an intrinsic value of zero.

      I see cause for scepticism.

      I do have some crypto-currencies myself and I'm interested in them. But to believe they will just keep rising, first you'll need to convince me of the force that will make this happen.

      Deflationary, reducing supply is not enough, there needs to be sustainable demand. For sustainable demand there needs to be a value or use to said asset. I'm not sure these really exist. I'm obviously just talking out-my-arse but, the world has been through such events in the past. Scepticism is called for.

  • gringo on 08/11/2017 - 11:39
    -2

    How do we know the BTC paid are not the proceeds of crime (e.g. money laundering, dark web transactions) and are not being "washed" by this site?

    • idonotknowwhy on 08/11/2017 - 11:52
      +2

      How do you know your AUD cash isn't the proceeds of crime?

      • gringo on 08/11/2017 - 12:18

        If this was a cashback site paying cash in hand, you should be equally skeptical.

        Every BTC transaction has a traceable history and could be marked on that basis in the future. You might even get a nice audit out of it if they are especially dirty (ransomware extortion for instance).

        That is why exchanges have AML provisions.

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