Zapchain.com published an interesting article about ways of potential bitcoin development. Moritz Stellmacher is discussing the possible role of bitcoin tipping in value transfer on the internet. He expresses confidence that bitcoin can actually change our habitual understanding of how we can show our approval of virtual content.
Creation and distribution of content has become so easy for users. No matter where you are, you can make music, video or article and share it in the internet. But quite few people manage to earn money in such a way even if their content is watched and valued by many users.
Moritz names advertising as almost the only way of earning money in the internet: “Value transfer in advertising sphere is very indirect. Advertisers sell products to consumers, who then indirectly pay for the content. There is a lot of friction on how value is transferred from the creator to the actual consumer.”
Modern internet can hardly be named free. Moritz is talking about people paying for digital goods or the New York Times and the Wall Street Journal getting people to pay for articles through paywalls.
And it’s absolutely logical that he is searching the way for users to “express more directly which content is in high demand”. He insists that “there is missing a simple and convenient way for the consumer to value the everyday content they consume, like music, articles or videos”.
Mr. Stellmacher sees bitcoin as a way out of this situation. Although bitcoin is already represented in social network in the form of likes, hearts, favorites and so on, it is still not enough – “there is no differentiation, you can’t express how much you like it. That makes communication in social networks less effective.”
Bitcoin transfer is offered as an option instead of a like button. It would be great if you could pay a tip to a person created interesting content. Thus he/she could evaluate themes topical for most people.
“Projects like changetip and coinwidget are working on an idea like this, but we need a big social player to move in to get adoption and they are still missing the expression part of the system,” says Mr. Stellmacher. “I think likes are just an intermediate step in the evolution of value expression on the internet. Money is a better metric than likes to express and transfer value.”
Moritz makes quotation of Balaji Srinivasan as a moto of his speech: “Bitcoin will do for value transfer what the Internet did for communication — make it programmable”. Internet expanded the boundaries of communication. Now bitcoin should expand the boundaries of the internet.