Convertir Bitcoin a Dólar USD y de Dólar a Bitcoin

Update and Few Thoughts, a (Well-Typed) transcript: Liza&Charles the marketeers, Voltaire kick-off, PrisM and Ebb-and-Flow to fuck ETH2.0 Gasper, the (back)log of a man and a falcon, lots of companies, September Goguen time, Basho, 2021 Titans, Basho, Hydra and much more thoughts and prayers

Hi everybody this is Charles Hoskinson broadcasting live from warm sunny Colorado. I'm trying a new streaming service and it allows me to annotate a few things and simulcast to both periscope and youtube. Let's see how this works. I also get to put a little caption. I think for the future, I'm just for a while going to put: "I will never give away ada". So, when people repost my videos for giveaway scams they at least have that. First off, a thank you, a community member named Daryl had decided to carve a log and give his artistic impression of my twitter profile picture of me and the falcon so that always means a lot when I get these gifts from fans and also I just wanted to, on the back of the Catalyst presentation, express my profound gratitude and excitement to the community.
You know it's really really cool to see how much progress has been made in such a short period of time. It was only yesterday when we were saying "when Shelley"? Now Shelley's out and it's evolving rapidly. Voltaire is now starting to evolve rapidly and we're real close to Goguen. At the end of this month we'll be able to talk around some of the realities of Goguen and some of the ideas we have and give some dates for certain things and give you a sense of where that project is at. The good news is that we have gained an enormous amount of progress and knowledge about what we need to do and how to get that done and basically people are just executing and it's a much smaller task than getting us to Shelley. With Byron to Shelley we literally had to build a completely new cryptocurrency from the ground up. We had to have new ledger rules, new update system, we had to invent a way of transitioning from one system to another system and there's hundreds of other little innovations along the way: new network stack and so forth. Byron cosmetically looks like Shelley but under the hood it's completely different and the Shelley design was built with a lot of the things that we needed for Goguen in mind. For example, we built Shelley with the idea of extended UTXO and we built Shelley understanding what the realities were for the smart contract model and that's one of the advantages you get when you do this type of bespoke engineering. There's two consequences to that, one, the integration is significantly easier, and two, the integration is significantly faster. We won't look at that same complexity there.
The product update at the end of the month... We'll really start discussing around some of these things as well as talk about partners and talk about how the development ecosystem is going to evolve. There are a lot of threads throughout all three organizations that are happening simultaneously. Emurgo, they're really thinking deeply about DeFi and they've invited us to collaborate with them on things like stablecoins for example but we're also looking at oracles (oracle pools), DEX and these other things and because there are already people in market who have made mistakes, learned lessons, it gives us the benefit of hindsight. It means we can be much faster to market and we can build much more competitive things in market and the Cardano community gets first access to these next generation DeFi applications without a lot of the problems of the prior generations and that's super beneficial to us.
You know, the other side of it, is that Voltaire is going to have a systemic influence not just on community funding but also the overall evolution and direction of the platform. The longer it exists the more pervasive it will become. Probably first applied towards the Cardano foundation roadmap but later on it will definitely have a lot of influence and say over every element aspect of the system including the launch dApps and these other things. Basically, long term, the types of problems that Cardano solves so that's incredibly appealing to me and very exciting to me because it's like I have this giant community brain with the best and brightest of all of you working with us to get us where we need to go.
You know, another thing that was super encouraging, it's a small thing, but it shows us that we're definitely in the right direction was that we recently got a demo from Pramod (Viswanath) and his team out of university of Illinois on a protocol they create called PrisM which is a super fast proof-of-work protocol and they wrote this beautiful paper and they wrote code along with it that showed that PrisM is a ten thousand times faster than Nakamoto consensus. If you take the bitcoin proof-of-work protocol, you strip it out, you put PrisM in, you can run the entire bitcoin system 10000 times faster. They have these beautiful benchmarks to show that. Even in bad network conditions. (I'm) promoting this team, they're, they're real researchers, and they're real engineers, they use a lot of cool HPC concepts like springboarding and other things like that to accommodate that. Then I asked him in the presentation, I said well, how much faster if you replay the Ethereum chain? He says, well, that it takes a big performance hit, could be only maybe a hundred times because that model is not as easy to optimize and shard with standard computer science concepts. In fact in some cases there are limitations there that really can't be overcome. It turns out that we're more on that UTXO side than we are on the account side. As a coincidence or intent of the design of extended UTXO we're gonna have a lot easier time getting much higher performance where and when it's necessary.
I also approved this week a scaling up of the Basho project. In particular, to build a hydra prototype team. The science has gotten to a point where we can make a really competitive push in that particular direction. What does that mean? It means that in just a few short months we can de-risk technological approaches that long-term will give us a lot of fruit where and when the community decides that they need infrastructure like hydra. Now, here's the beautiful thing about hydra. If you watch my whiteboard back in September of 2017 when Cardano first hit market with Byron I talked about this concept of looking at scalability with a very simple test which is as you get more people in the system it stays at the same performance or it gets faster. We all experience systems that do this, for example, bittorrent, more people downloading something you tend to be able to get it faster and we all experience the converse which is, the system gets slower when you get more people. What does this mean? It means that hydra is an actual approach towards true scalability in the system and it's a lot easier to do than sharding even though we have a beautiful approach to get the sharding on the ledger side if we truly desire to go down that way. There's beautiful ideas that we are definitely in deep discussions about. That's a very complex thing. There was recently a paper ("Ebb-and-Flow Protocols: A Resolution of the Availability-Finality Dilemma") out of Stanford that showed that the Gasper protocol as proposed for ETH2.0 does have some security concerns and it's going to be the burden on the shoulders of the Ethereum 2.0 developers and Vitalik to address those concerns from those Stanford professors. Whenever you have these very complex protocols they have so many different ways they can break and things can go wrong so it's much more appealing when you don't have to embrace complexity to achieve the same. The elegance of hydra is that stake pool operators are very natural parties to put hydra channels on and every time we add one we get much more performance out of that and the system as it gets more valuable. The k factor increases which means you get more stake pull operators, which means you get more hydra channels, so with growth we get appreciation, with appreciation we get more decentralization, with more decentralization we get more performance. In essence, this spiritually speaking, is really what we meant when we said scalability. That the system will always grow to meet its particular needs and we have a very elegant way of moving in that direction that doesn't require us to embrace very sophisticated techniques. It's not to say that these techniques don't have a place and purpose but it says that the urgency of implementing these is gone and we then have the luxury to pick the best science when it's ready instead of rushing it to market to resolve a crisis of high fees. We'll never have that crisis so there's a beauty to Cardano that is missing, I in my view, from many cryptocurrencies and blockchains in the marketplace and we're now seeing that beauty shine through. Not only through our community who are so passionate and amazing but in the science and the engineering itself and how easy it is for us to navigate the concepts. How easy it is for us to add more things, to take some things away, to clean some things up here and there and our ability to move through.
I never imagined when in 2015 I signed up to go in on this crazy ride and try to build a world financial operating system we would have made as much progress as we made today. We've written more than 75 research papers as an organization many of which are directly applicable to Cardano. We've got great partners who work with Nasa and Boeing and Pfizer, massive companies, that have 10 years of history and millions of users to come in and help us grow better. We've worked with incredible organizations, major universities like university of Wyoming, university of Edinburgh, Tokyo, tech professors all across the world. We've worked with incredible engineering firms like VacuumLabs and AtixLabs and Twig and Well-Typed, runtime verification, QuviQ and dozens of others along the years and despite the fact that at times there's been delays and friction throughout this entire journey we've mostly been aligned and we keep learning and growing. It gives me so much hope that our best days are ahead of us and an almost fanatical belief that success is inevitable in a certain respect. You see because we always find a way to be here tomorrow and we always find a way to make tomorrow a better day than today and as long as that's the trend you're monotonically increasing towards a better tomorrow, you're always going to have that outcome, you're always going to be in a position where Cardano shines bright. Towards the end of the month we'll have a lot more to say about the development side and that'll be a beginning just like Voltaire is the beginning and then suddenly you now notice the beautiful parallelism of the roadmap. Shelley continues to evolve, partial delegation is coming, in fact, I signed the contract with vacuumlabs to bring that to Ledger (and Trezor). The Daedalus team is hard at work to make that feature apparent for everyone as is the Yoroi team.
You see that, with now Voltaire, and soon was Goguen, and these are not endpoints, rather they're just beginnings and they're never over. We can always make staking better, more diverse, more merit-based and entertain different control models, have better delegation mechanics, have better user experience. The same for smart contracts, that's an endless river and along the way what we've discovered is it's easy for us to work with great minds and great people. For example with testing of smart contracts I would love to diversify that conversation above and beyond what we can come up with and bring in some firms who have done this for a long time to basically take that part with us shoulder to shoulder and build beautiful frameworks to assist us. For example, runtime verification is doing this with, the EVM with a beautiful project called Firefly to replace Truffle. I believe that we can achieve similar ends with Plutus smart contracts.
When you ask yourself what makes a system competitive in the cryptocurrency space? In my view there are four dimensions and you have to have a good story for all four of those dimensions. You need security and correctness. A lot of people don't prioritize that but when they get that wrong it hurts retail people, it hurts everyday people, billions of dollars have been lost due to the incompetence and ineptitude of junior developers making very bad mistakes and oftentimes those developers faced no consequences. The people who lost money were innocent people who believed in cryptocurrencies and wanted to be part of the movement but didn't protect themselves adequately. That's a really sad thing and it's unethical to continue pushing a model that that is the standard or the likely outcome rather than a rare edge case. You have to as a platform, a third generation platformn invest heavily in giving the developers proper tools to ensure security and correctness. We've seen a whole industry there's been great innovations out of Quantstamp and ConsenSys and dozens of other firms in the space including runtime verification who have really made major leaps in the last few years of trying to improve that story. What's unique to Cardano is that we based our foundations on languages that were designed right the first time and there's over 35 years of history for the approach that we're following in the Haskell side that allows us to build high assurance systems and our developers in the ecosystem to build high assurance systems. We didn't reinvent the wheel, we found the best wheel and we're giving it to you.
I think we're going to be dominant in that respect as we enter 2021. Second, you look at things like ease of maintenance, ease of deployment, the life cycle of the software upgrades to the software and as we've demonstrated with things like the hard fork combinator and the fact that Voltaire is not just a governance layer for ada and Cardano but will eventually be reusable for any dApp deployed on our system. You have very natural tooling that's going to allow people to upgrade their smart contracts, their dApps and enable governance for their users at an incredibly low cost and not have to reinvent the governance wheel each and every application. This is another unique property to our system and it can be reused for the dApps that you deploy on your system as I've mentioned before. Performance is a significant concern and this was often corrupted by marketers especially ICO marketers who really wanted to differentiate (and) say: "our protocol tested on a single server in someone's basement is 500000 transactions per second" and somehow that translates to real life performance and that's antithetical to anyone who's ever to study distributed systems and understands the reality of these systems and where they go and what they do and in terms of performance. I think we have the most logical approach. You know, we have 10 years of history with bitcoin, it's a massive system, we've learned a huge amount and there's a lot of papers written about, a lot of practical projects and bitcoin is about to step into the world of smart contracts. We congratulate them on getting Schnorr sigs in and the success of Taproot. That means entering 2021, 2022, we are going to start seeing legitimate dApps DeFi projects, real applications, instead of choosing Ethereum or Algorand, EOS, Cardano, choosing bitcoin and they're adding a lot to that conversation. I think that ultimately that model has a lot of promise which is why we built a better one. There are still significant limitations with what bitcoin can accomplish from settlement time to the verbosity of contracts that can be written.
The extended UTXO model was designed to be the fastest accounting and most charitable accounting model ever, on and off chain, and hydra was designed to allow you to flex between those two systems seamlessly. When you look at the foundations of where we're at and how we can extend this from domain specific languages, for domain experts, such as Marlowe to financial experts, and the DSLs that will come later, for others, like lawyers and supply chain experts in medical databases and so forth and how easy it is to write and deploy these. Plutus being beautiful glue code for both on and off chain communications. I think we have an incredibly competitive offering for performance and when hydra comes, simply put, there'll be no one faster. If we need to shard, we're going to do that and definitely better than anybody else because we know where our security model sits and there won't be surprise Stanford papers to blindside us that require immediate addressing.
In terms of operating costs, this is the last component, in my view, and that's basically how much does it cost you the developer to run your application? There are really two dimensions, one is predictability and the other is amount. It's not just good enough to say: it's a penny per transaction today. You need to know that after you spend millions of dollars and months or years of effort building something and deploying something that you're not going to wake up tomorrow and now it's five dollars to do what used to cost a penny. You need that cost to be as low as possible and as predictable as possible and again the way that we architectured our system and as we turn things on towards the end of this year and as we enter into the next year we believe we have a great approach to achieve low operating cost. One person asks why Cardano? Well because we have great security and correctness in the development experience and tools with 35 years of legacy that were built right the first time and don't put the burdens of mistakes on your customers. They ask why Cardano and we say: well the chain itself is going to give you great solutions with identity value transformation and governance itself and as a consequence when you talk about upgrading your applications having a relationship with your customers of your applications and you talk about the ease of maintenance of those applications. There's going to be a good story there and we have beautiful frameworks like Voltaire that allow that story to evolve and we keep adding partners and who have decades of experience to get us along. We won't stop until it's much better. They asked why Cardano? We said because at the moment we're 10 times faster today than Ethereum today and that's all we really need for this year and next year to be honest and in the future we can be as fast as we need to be because we're truly scalable. As the system gets more decentralized the system improves performance and where and when we need to shard we can do that. We'll have the luxury of time to do it right, the Cardano way, and when people ask why Cardano? Because the reality is, it's very cheap to do things on our platform and the way we're building things. That's going to continue being the case and we have the governance mechanisms to allow the community to readjust fees and parameters so that it can continue being affordable for users. Everything in the system will eventually be customizable and parameterizable: from block size, to transaction fees and the community will be in a good position to dynamically allocate these things where and when needed so that we can enjoy as an ecosystem predictability in our cost.
In the coming weeks and months, especially in my company, we're going to invest a lot of time and effort into comparison marketing and product marketing. When I see people say, oh well, you've launched proof of stake, a lot of other people have done. I don't think those people fully appreciate the magnitude of what we actually accomplished as an ecosystem and the quality of the protocols that are in distribution. That's not their fault, it's our fault, because we didn't take the time in simplistic terms, not scientific papers and deep code and formal specifications, but rather everyday language, to really show why we're different. I admit that that's a product failing and that needs to be corrected so we hired a great marketing director, named Liza (Horowitz?) and she is going to work full time with me and others in the ecosystem, a great team of people, every single day to get out there and explain what we have done is novel, unique, competitive and special to our industry. Everything from Ouroboros and contrast to major other protocols from the EOSes and Algorands and the Tezos of the world. Why we're different, trade-offs we chose over them, to our network stack, to the extended UTXO model, to Plutus, to Marlowe and we're going to keep hammering away at that until we get it right and everybody acknowledges and sees what has been accomplished.
I've spent five years of my life, good years of my life, and missed a lot to get this project where it needs to go. All of our employees have invested huge sums of their personal lives, their time, their brand, their careers, in trying to make this the really most magical and special cryptocurrency and blockchain infrastructure around. No one ever signed up in this company or the other companies working on Cardano to work on a mediocre protocol. That's just another blockchain, they signed up to change the world, they signed up to build a system that legitimately can look at you in the face and say: one day we have the potential to have a billion users! That's what they signed up for and they showed up to play. They built technology that evolves in that direction with some certainty and great foundations and we have an obligation to market in a way that can show the world why, succinctly, with clarity. Understandably, this has been a failing in the past but you know what? You can always be better tomorrow that monotonically increasing make it better and that's what we're going to do. We recognized it and we're going to invest in it and with Voltaire if we can't do it. You the community can do it and we'll work with you. If you can do a better job and the funding will be there to get that done. In addition to this, we think about 2021 and we ask where does the future take us? I've thought a lot about this you know I've thought a lot about how do we get the next five years as we close out 2020 and here's the reality: we're not going to leave as a company until we have smart contracts and multi-asset and Voltaire has evolved to a point where the community can comfortably make decisions about the future of the protocol and that the staking experience has solidified and it's stable.
I don't care if this costs me millions or tens of millions of dollars out of my own pocket to make happen. I'm going to do that because that's my commitment to you, the community and every product update will keep pushing our way there. We'll continue to get more transparent, we'll continue to get more aggressive and hire more and parallelize more. Aware when we can, to deliver that experience so that Cardano gets where it needs to go. Then when we ask about where do we go next? The reality is that the science as an industry, the engineering as an industry has given a menu of incredibly unique attractive and sexy things that we can pursue. What we're going to do is work with the community and the very same tools that are turning on today, the Voltaire tools, the cardano.ideascale.com tools and we're going to propose a consortium and we're going to bring the best and brightest together and give a vision of where we can take the system in another five years. With the benefit of hindsight, massively improved processes, better estimation capabilities and the fact that we're not starting with two people at IOG. We're starting with 250 people and the best scientific division in our industry and the legacy of almost, nearly by the end of this year, 100 scientific papers. That's us, you know what, there's dozens of companies throughout the history who have worked on Cardano. It's about time to scale them up too and get client diversity. So come next year when the protocol has evolved to the point where it's ready for it, we'll have that conversation with you the community and that's going to be a beautiful conversation. At the conclusion of it, there's going to be certainty of how we're going to evolve over the next five years to get ourselves beyond the cryptocurrency space. I'm very tired of these conversations we have about: are you going to go to (coindesk's) consensus or not? Or who's going to be the big winner? What about Libra or what about this particular regulation and this crypto unicorn and this thing?
You know I've been in the space a long time and I've noticed that people keep saying the same things year after year in the same venues. Yes, the crowd sizes get larger and the amount of value at risk gets larger but I haven't seen a lot of progress in the places where I feel it is absolutely necessary for this technology to be permanent in the developing world. We need to see economic identity. People often ask what is the mission for Cardano? For us IOG, you look at economic identity and you take a look at a roadmap. For it, you scale up and down, and each and every step along the way, from open data, to self-sovereign identity, to financial inclusion. You can keep going down: to decentralized lending, decentralized insurance, decentralized banking. Each and every step along the way to economic identity. When you admit a blockchain tells you that, there's a collection of applications and infrastructure that you need to build.
My life's work is to get to a point where we have the technology to do that. The infrastructure to do that, with principles, and so we'll keep evolving Cardano and we'll keep evolving the space as a whole and the science as a whole until I can wake up and say: each box and that road to economic identity, for all people not just one group, we have a solution for that. I'm going to put those applications on Cardano and success for me is not about us being king of the crypto hill and having a higher market cap than bitcoin or being entrepreneur of the year coindesk's most influential person. It's meaningless noise, success for me is reflecting back at the things that we have accomplished together and recognizing that millions if not billions now live in a system where they all matter, they all have a voice, they all have an equal footing. The Jeff Bezos of the world have the very same experience as the person born in Rwanda and we're not done until that's the case. It's a long road, it's a hard road, but you know what? We're making progress, we have great people in Africa, we have great people in eastern Europe, we have great people in southeast Asia and great partners all along the way. Great people, Latin America, great people in south America, great people here in the United States.
When we talk about economic identity there are millions, if not tens of millions of Americans who don't have it. Same for Canadians, hundreds of thousands, who don't have it. Developed western cultures, it's the greatest blind spot of policy and as we enter into a depression as a result of coronavirus, add millions if not tens of millions more onto that list. Generations are being disenfranchised by this legacy system and we as an ecosystem, we as an entire community are offering a different way forward. Not hyper centralizationn not social credit but a way forward where you own your own money, your own identity, your own data. You're not a victim of surveillance capitalism, you're not a victim of civil asset forfeiture. When you say the wrong things, you get shut out of society. Each and every human being matters and I'm optimistic to believe that when you remind people that they matter they're gonna rise to the occasion. That is the point of my company. In the things that we do each and every day, that's our mission to give the platforms to the world so that those who don't have economic identity can get it and they can keep it and no one can take it from them and they can enjoy an ever increasing growth of standard of living wealth and prosperity.
However you want to measure that this is my goal post, I couldn't care less about the cryptocurrency space. It was a great place to start but the space needs to be reminded why it exists. Bitcoin was given a mandate on the back of the 2008 financial crisis to do something different. It was not given a mandate to go be a new settlement layer for central banks or a new way for the old guard to make more money and banks get bigger and for those who are in control to preserve their power. The whole point of doing something so crazy as to buy a coin that doesn't even exist in real life, that's just a bunch of numbers in the cloud, the whole point of that was so that we as a society could do something different than the way that we'd been doing things before. So, each and every member of the cryptocurrency space needs to remind everyone else from time to time why we're here and where did we come from and where are we going to go.
The beauty of Cardano is we have already achieved for the most part a decentralized brain and that momentum is pushing harder than ever. More and more scientists are waking up, more and more institutions are waking up, getting us there. The code we have, the right approach and I think we have a great competitive offering for 2021 as we go and battle the titans and that's going to be a lot of fun but we know who we are and where we're going and we're in the right places. It's so incredibly encouraging to see the stake pool operators not just be from California or Texas or New York or Canada. To see a lot of stake pool operators from the place that need the most, help everybody does matter and it means a lot to me for the people who are there but it means a lot to everybody to say that we have created an equal platform. It makes the participation of all of us so much more meaningful. We're not just talking to each other, we're talking to the world and by working together on this platform we're lifting the world up and giving people hope. That's the point, there's a lot more to do, we didn't get everything done. You never do you aspire, you work hard, you set a moon, shot and sometimes you can just get to orbit with the first go but you know what? When you build the next rocket you can go to Mars.
Thank you all for being with me, thank you all for being part of this. Today was a damn good day with the announcement of Voltaire. Go to cardano.ideascale.com. You can participate in that, so end of September is going to be a good day too. There's a lot of good days to come, in between a lot of hard days, doing tasks sometimes entirely forgettable but always necessary to keep the revolution going and the movement going. I cannot wait for 2021, our best days are ahead of us, because of you. You all take care now .
Source: https://www.youtube.com/watch?v=BFa9zL_Dl_w
Other things mentioned:
https://cardano.ideascale.com/
https://www.atixlabs.com/blockchain
https://www.well-typed.com/
https://www.vacuumlabs.com/
https://medium.com/interdax/what-is-taproot-and-how-will-it-benefit-bitcoin-5c8944eed8da
https://medium.com/interdax/how-will-schnorr-signatures-benefit-bitcoin-b4482cf85d40
https://quantstamp.com/
https://bloxian.com/bloxian-platforms/ (TWIG)
https://runtimeverification.com/firefly/
https://www.trufflesuite.com/
https://experts.illinois.edu/en/publications/prism-deconstructing-the-blockchain-to-approach-physical-limits (PrisM and not our Prism https://atalaprism.io/)
Ebb-and-Flow Protocols: A Resolution of the Availability-Finality Dilemma (aka Gasper and ETH2.0 fucker) https://arxiv.org/abs/2009.04987
http://www.quviq.com/products/
https://en.wikipedia.org/wiki/Schnorr_signature
submitted by stake_pool to cardano [link] [comments]

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• If you contact support, you can request to have your payouts issued at the minimum cashout amount rather than for your full balance. This will let you make the most out of the Golden Tickets.
 

PrizeRebel [International*]

PrizeRebel is a GPT (Get-Paid-To) site. They have many offer walls and survey providers available. You can earn bonus points for meeting your daily goals, and they have bi-monthly contests that reward the top earners. They also have a Level program that allows you to earn a bigger percentage from your referrals, prize discounts, special bonuses, and automatic prize processing. Level up by earning more points. — Payment Proof.
*The site is International, but most earning opportunities are for US, UK, CA and AU.
↪ Age minimum: 16
↪ Offers: Surveys, Offer Walls, Tasks, Videos, Coupons, and Earning Contests.
↪ Payout: [Minimum: $2] Amazon, PayPal, VISA, Wal-Mart, Best Buy, Raffles and many more.
↪ Referral Incentive: 15-30% of what your referrals earn for life.
TIPS:
• Meet your daily goal each day to earn bonus points.
 

Fetch Rewards Invite Code: V3DVK [US, Puerto Rico]

Fetch is an app available for both Android and iOS where users earn money for scanning receipts and for purchasing specific products or brands. You get points for every receipt from a grocery retailer, supermarket, club wholesaler, home improvement/hardware store, pet store or convenience stores, regardless of what you buy. You can get additional points for purchasing specific products or specific brands. Receipts cannot be more than 2 weeks old. It can also be set it up to passively collect e-receipts. — Payment Proof.
↪ Age minimum: Age of majority in your jurisdiction (Usually this is 18).
↪ Offers: Cash back for scanning receipts and buying specific products or brands.
↪ Payout: [Minimum $3] Amazon, Target, Best Buy, Xbox, Applebee's and many more.
↪ Referral Incentive: Both the referrer and the referred user get $2-5 when they scan their first receipt. The exact amount varies depending on the current promotion. This is close to or above the minimum cash out amount.
TIPS:
• Make sure to check for rebates on any items you regularly stock up on.
• You don’t need to add rebates before purchasing items.
 

Ibotta [US, Puerto Rico]

Ibotta is an app available for both Android and iOS that gives cash back for shopping at Ibotta's retail and then scanning your receipts to prove what purchases were made. They currently support around 160 stores. Most offers are for newer brands, but they often have well-known names such as Glade or Kraft. They also regularly have cash back deals for "any item" or "any brand". You can also get cash back for shopping on sites such as Amazon and various services such as meal delivery. — Payment Proof.
↪ Age minimum: 18
↪ Offers: Cash back.
↪ Payout: [Minimum $20] Paypal, Venmo, Amazon, BestBuy, Starbucks and many more.
↪ Referral: Referred users get a $20 Welcome Bonus after redeeming their first brand name receipt. Referring users get $5 for each referred user who receives their welcome bonus. They also often run bonuses for referring a certain number of users during the month.
TIPS::
• Always check for the "Any Item" rebate before scanning a receipt.
• Check your account for bonuses. They often have bonuses for redeeming certain groups of rebates or for redeeming a certain number of rebates within a time limit.
• You can link your Facebook account in order to participate in teamwork bonuses with friends.
 

GamerMine [International*]

GamerMine is a GPT site founded in January of 2017 that values the experience of their users. With over $115,000 USD paid out to their users over 25,000 withdrawals, they've earned the trust of many members of the beermoney community.
↪ YourSurveys Direct Integration - Complete the highest paying surveys on the market, directly sourced from YourSurveys and tailored to your profiling info.
↪ Steam Reward - Get paid by wearing our brand/gaming with it on Steam.
↪ Daily Bonus - Claim a bonus everyday that scales with your level. More earnings, higher daily free. Top members are earning up to $1.00 USD per day!
↪ Age minimum: 13
↪ Inventory/Item System - Earn boosters that can be used whenever you want to increase your earnings on an offer.
TIPS:
‌• Leaderboard - Daily/monthly that auto-rewards the highest earners in the period.
 

Amazon Mechanical Turk [International*]

Mturk is a platform that allows clients to post a large number of jobs. It is a bit more professional than the typical /beermoney site. You work for "requesters" and they can approve or reject your submitted tasks, also known as HITs. You can earn a lot more money on this site than other typical /beermoney sites, but you need to pay attention to which jobs you accept. Not all HITs pay well. They do require some sensitive information from you for tax purposes. Not everyone gets approved to work here, and some people will be approved months or years after being rejected. — Payment Proof.
*This site is international, but most of the tasks are only available for the USA. International users can only redeem Amazon.com balance.
↪ Age minimum: 18
↪ Offers: A large number of tasks including Surveys, Transcription, Translation, Website Testing, Data Entry and much more.
↪ Payout: [Minimum $0.01] Amazon.com Balance and Amazon Payments Balance. Amazon Payments Balance can be transferred to a bank account.
Note: All Amazon Balance is for the USA Amazon.com website regardless of your country.
↪ Referral Incentive: None
TIPS:
• Only do HITs that pay at least 10¢/minute. This gives you a rate of $6/hour. Mturk crowd forum and /hitsworthturkingfor are good places to check for higher paying HITs.
• It is better to return a HIT than to submit to if you are unsure whether the requester will approve it. Returning a HIT will not negatively affect you, but a rejection will.
Scripts are allowed and encouraged. Checked /mturk for more tips and suggestions.
 

UserTesting [International*]

UserTesting is a usability testing site. You get paid to record your screen and speak aloud while performing a number of specified tasks. These tasks are generally related to testing a website or an app, but some tests may have you complete a survey, play a game, test new software, etc. At the start you may receive $3 sample tests, but after a while you will see $10 unmoderated tests. Moderated tests start at $30 per test, and usually require you to have a webcam. Payment arrives via PayPal exactly 7 days after your test is completed. — Payment Proof.
*The site is International, but most earning opportunities are for US, UK, CA and AU.
↪ Age minimum: 18
↪ Offers: Usability testing
↪ Payout: [Minimum: None] PayPal
↪ Referral Incentive: None.
TIPS:
• Completing the unpaid surveys at the top may qualify you for additional tests.
• Make sure to follow instructions carefully, keep talking, and be professional. Keeping a high quality rating is essential if you want to receive plenty of tests.
 

GetUpside [USA - Select states*]

GetUpside is an app available on both Android and iOS that gives you cash back on gas, groceries and restaurants. You can get up to $0.25 per gallon of gas (or up to $0.50 per gallon twice per day), 15% on groceries, and 35% at restaurants. Some gas stations offer cash back on convenience store purchases, car washes, inspections, oil changes, etc. GetUpside also gives you a map of all the participating gas stations in your area, and you can get additional points for confirming or fixing the prices.
↪ Age Minimum: 13
↪ Offers: Cashback on gas, groceries and restaurants.
↪ Payout: PayPal ($1 fee if under $15), Check ($1 fee if under $50), Amazon, Home Depot, Target, and many more. [GC Minimum: $10]
↪ Referral Incentive: The referred user gets $0.15-$0.20 off per gallon of gas on their first purchase. The referring user gets $0.01-$0.02 per gallon from direct referrals, and $0.005-$0.01 per gallon for indirect referrals for life. Amount varies per person. As of 05/18/20 (not sure how long it will last) new users who sign up with the link above get a $7-$14(varies per person) bonus if they buy at least $10 worth of gas.
TIPS:
‌• You must make your purchase with a debit or credit card. Cash, prepaid cards, gift cards, and EBT are not eligible forms of payment.
• You only have 4 hours to make your gas or restaurant purchase after claiming the offer. Grocery offers have 24 hours. All receipts must be scanned within 24 hours from when you claim the offer.
 

Cash Back From Shopping Online

These sites give cash back on your online purchases. Online purchases require you to click their affiliate link prior to shopping. Ebates US has in-store offers as well. In-store purchases require you to link a debit/credit card and to active the offer prior to shopping. Most of these sites are International, but your shopping opportunities may be limited, and you will only get paid in the associated currency. — Ebates Payment Proof.
 
TIPS:
• Make sure to click on the "Shop Now" or “Get Cashback” button before adding items to your cart. Otherwise, your shopping trip may not count.
• You can only use one shopping portal per shopping trip. Attempting to use more than one may cause problems crediting your account.
• Disable any ad blockers while shopping.
• For US Users: Sometimes you can earn more cash back on Ebates or TopCashBack than the other for a particular store. Check both sites if you want to get the most cash back for each purchase.
For TopCashBack UK Users: New users are automatically enrolled into the Plus membership. Downgrade to the Classic membership to avoid being charged £5/year.
 
Rakuten (Ebates) US TopCashBack US Rakuten (Ebates) Canada Ebates KR Rebates JP TopCashBack UK TopCashBack IN TopCashBack 中文
Age 18 18? 18 18 18 18 ? ?
Payout Minimum $5.01 $0.01 $5.01 CAD KRW 5,001 ? £0.01 ₹0.01 $0.01
Payout Types Check, PayPal VISA, PayPal, ACH, Gift Cards Check, PayPal Bank, PayPal, Naver Pay ? Master Card, PayPal, BACS, Gift Cards, British Airways Amazon Pay, NEFT, Paytm PayPal, Amazon, UnionPay
New User Bonus $10 $10 $5 CAD KRW 5,000 ? ? ₹100 ?
Referral Incentive $25 $10 $10 CAD KRW 5,000 ? £5.00 ₹200 $10
Some information is missing due to translation difficulties and signup problems. Please let us know if you know any of this missing information.
 
 

Sites to Avoid: Definitely DO NOT post these.

Earnsanity — Shady owner, sketchy site. Held giveaway and then refunded the prizes after it was over. History of scamming many others. AVOID AT ALL COSTS UNLESS YOU WANT TO BE SCAMMED.
Paidverts — Shady owner, sketchy site. Keeps doing debt swaps (cash to BAP). Do not post.
Neobux — It isn’t really a scam, but they operate as a pyramid scheme. There’s money to be made online, but it’s definitely not there.
MarketGlory — It does pay out, but the pay is absolutely ridiculous. The only way to make a decent amount of money is to have a lot of referrals, and referral whoring on this subreddit WILL result in a permanent ban.
MindSumo — Not actually a /beermoney site. It’s only spam in this sub.
G2A — Scam/sells stolen keys.
Robinhood — This is spammed on our sub constantly.
Quickthoughts — Many reports of people being banned when trying to withdraw as of 10/2018. Do your due diligence before possibly wasting your time on this app.
Sites with $100+ minimum — These sites usually offer higher than normal payments for simple tasks, with a high minimum to cash out. They are always scams.
Generic news sites that pay you ridiculous amounts to read an article (two euros??) — Common sense should take care of this, but in case it doesn’t, it’s always a scam. The site is usually hosted somewhere in Eastern Europe, and you will never get paid.
Free bitcoin sites/"faucets" (THIS INCLUDES QOINPRO) — This is not referring to those video-viewing/task sites (although they’re still paying fragments of a penny). I’m talking about sites that give you 0.000001BTC to fill a captcha (freebitco.in, dailybitcoins). Admittedly many beermoney sites pay low, but don’t even bother with these.
Also: Bitcoin mining is NO LONGER PROFITABLE. If you're really so keen on getting bitcoins, doing so through an exchange is your best option.
Here are a few more scam sites and sketchy sites.
 
 
Please note that presence on this post does not imply that /beermoney or its moderators endorse the site or their views, actions, or policies. This list simply contains sites that are used by a large number of our users or are frequently mentioned on our subreddit.
We frequently monitor data from all the sites on this list from various sources to ensure that users are able and interested in utilizing them and if they do, that they also are getting paid promptly and fairly for all work they do. We make adjustments to this list and the order of sites accordingly based on all the data we receive.
 
Please make sure you follow the Rules of our subreddit and if you ever have any questions about anything beermoney related, please take a look at our extensive FAQ which should answer almost any question you might have.
submitted by beermoneymods to beermoney [link] [comments]

Les pieces stables

Que sont les pièces stables? USDT, TUSD, GUSD, USDC et USDQ
Que sont les pièces stables? USDT, TUSD, GUSD, USDC et USDQ
Dans cet article, Slava Mikhalkin parle de l' USDQ , un stablecoin entièrement algorithmique offrant fiabilité et facilité de sécurisation pour Bitcoin. Travaillant en tant qu'architecte de chaînes de blocs avec PLATINUM ENGINEERING, Slava collabore avec l'équipe de + 200 employés pour développer des solutions innovantes dans les portefeuilles en marque blanche , les STO et les plates-formes de collecte de fonds des IEO.et des modèles commerciaux à cycle complet pour les projets de chiffrement. Une proposition de valeur clé, apportée par PLATINUM ENGINEERING, est une approche holistique, dans laquelle un pool de talents polyvalent aide les startups à renforcer leurs capacités en informatique, en marketing et en droit. L'USDQ, unique et décentralisé, présente divers algorithmes de stabilisation des prix, un système complexe d'incitations pour les traders et un module d'analyse prédictive basé sur l'IA. Ce roman de stablecoin est à noter tant qu'il est en train de prendre de la vitesse.
Avant-propos
Il est clair que les cryptomonnaies entrent progressivement dans l’économie mondiale et se rapprochent de l’adoption massive. Les crypto-monnaies offrent un certain nombre d'avantages - décentralisation et confiance, réduction des commissions et désintermédiation - qui permettent aux utilisateurs d'effectuer plus facilement leurs transactions quotidiennes. Tout le monde peut transférer de la valeur dans le monde entier, en gagnant du temps de traitement rapide.
En comparaison, envoyer de la valeur au-delà des frontières via des systèmes financiers traditionnels nécessite de longues périodes d'attente et des frais, tout en contraignant les utilisateurs à suivre des processus extrêmement complexes. Par exemple, si une personne du Japon veut envoyer de l'argent en Angleterre, les frais peuvent varier de 5% à 10%, selon le système utilisé. En outre, il y aura des frais de conversion de devise. Il semble que les joueurs centralisés, qui manquent actuellement de concurrence, fixent les frais et les commissions comme ils le souhaitent.
Et ce sont les commerçants qui effectuent des transactions transfrontalières qui trouvent le plus pénible de travailler avec des institutions de financement traditionnelles. Ils continuent à perdre de gros montants de leurs bénéfices potentiels, ne faisant que payer des frais aux processeurs de paiement. Cela incite les entreprises à augmenter leurs prix et à répercuter ces dépenses sur les consommateurs ordinaires. Crypto propose un changement de paradigme, apportant à la table une vitesse fulgurante et des frais réduits. Bien que les cryptomonnaies retiennent de plus en plus l'attention des marchands du monde entier, il existe encore de nombreux obstacles à une adoption plus large, parmi lesquels la volatilité des prix, les limitations en matière d'évolutivité et autres.
La volatilité est certes le plus gros obstacle qui empêche les entreprises d’utiliser davantage de cryptomonnaies. Bitcoin peut connaître d’énormes fluctuations en quelques heures, voire quelques minutes. En outre, des pièces majeures comme Bitcoin et Ethereum posent des problèmes d’évolutivité, ce qui entraîne un temps de traitement élevé. Un commerçant, qui doit traiter des centaines de paiements quotidiennement, ne pourrait pas gérer ses affaires efficacement si les transactions se trouvaient bloquées plusieurs jours de suite. En plus de cela, il est extrêmement difficile pour les adoptants de convertir les crypto-monnaies en fiat via les banques et les autres agents financiers avec lesquels ils travaillent habituellement.
Les crypto-monnaies cherchent à offrir des solutions à tous ces problèmes.
Qu'est-ce que stablecoin?
Un stablecoin est une crypto-monnaie, dont l'architecture permet à son prix d'être toujours égal au prix d'un autre actif. La plupart des pièces en dollars sont indexées sur le dollar américain. Les plus grands noms des crypto-monnaies sont Tether, Dollar Gemini, USDQ, TUSD et autres.
Comment les Stablecoins parviennent-ils à être aussi stables?
Contrairement aux autres pièces qui flottent librement, les crypto-monnaies stables exigent que chaque unité soit adossée à une unité de la monnaie fiduciaire. Par exemple, Tether (USDT) fixe 1 USDT à 1 USD sur une base individuelle. De cette manière, les pièces de monnaie sont quelque part entre les crypto-monnaies et les fiats ordinaires. Tether est basé sur sa propre blockchain construite sur les systèmes Bitcoin, Litecoin et Ethereum.
Bien que Tether soit la plus grande caisse stable, son fonctionnement soulève un certain nombre de problèmes. Le plus important est la controverse persistante sur les réserves en fiat, que l'émetteur est censé stocker sur un ratio de un pour un par rapport au nombre d'unités Tether émises. La société a déclaré que la vérification serait effectuée dans un proche avenir, mais il y a quelques semaines à peine, elle a commencé à affirmer qu'il ne s'agissait pas uniquement de liquidités, mais également de prêts à d'autres sociétés pouvant être enregistrés en tant que réserves fiduciaires. Ces déclarations ont entraîné une méfiance croissante parmi les passionnés de cryptographie.
Un autre projet est TrueUSD (TUSD). Il se fixe également à USD. La différence avec Tether réside dans l'ouverture aux audits et à la transparence. La société est ouverte aux audits tiers, elle publie les rapports dûment vérifiés sur les réserves fiduciaires qu'elle détient. De plus, les utilisateurs bénéficient de protections légales.
USDC est un autre stablecoin créé par le fameux Cercle de crypto-monnaie d'échange. Tout comme TUSD, si offre la conformité réglementaire et la transparence. Le gros problème de tous ces systèmes est le fait qu’ils permettent aux autorités de saisir les fonds des utilisateurs, ce qui va totalement à l’encontre de l’idée même de décentralisation et de lutte contre la censure, sur laquelle repose la crypto.
USDQ est différent des autres monnaies stables puisqu'il ne s'appuie pas sur la devise fiduciaire, mais sur le bitcoin et les 10 autres crypto-monnaies du futur. Cela permet à l'écosystème d'éviter de traiter avec les systèmes financiers traditionnels. Grâce au processus de surdimensionnement, USDQ transforme des crypto-monnaies très volatiles en USDQ indexé en USD, ce qui est parfait pour stocker de la valeur et traiter des transactions dans l’économie externe sans aucun risque de variation de prix. La pièce est développée par PLATINUM ENGINEERING et la petite communauté grandit lentement autour du projet.

Pourquoi avons-nous besoin de Stablecoins?
Les Stablecoins ont évolué en tant que nouvelle itération sur les crypto-monnaies, permettant de résoudre des problèmes tels que la forte volatilité et les interactions avec les systèmes financiers traditionnels.
Des pièces comme USDQ s’assurent que divers mécanismes sont utilisés afin de stabiliser les prix à la parité USD. Les traders peuvent facilement convertir leurs Bitcoins en USDQ et éviter ainsi l’impact négatif sur les variations de prix indésirables. Les pièces Stablecoins sont très faciles à utiliser, ce qui est une aubaine pour les utilisateurs non avertis. Toute personne de partout dans le monde peut rapidement convertir une propriété en monnaie stable, sans avoir à se préoccuper des futurs changements de prix et sans s'inquiéter des risques potentiels de perte de fonds. En règle générale, vous trouverez toujours divers billets de banque sur les échanges cryptés, ce qui permet aux traders de se déplacer rapidement autour des écuries et autres cryptos.
Comme nous l'avons dit plus haut, les paiements transfrontaliers sont ceux qui gagnent le plus avec l'utilisation des stablecoins. Cette espèce hybride entre fiat et crypto contribuera à ouvrir la valeur cachée du commerce mondial, représentant des milliards de dollars de profits pour les parties prenantes.
USDQ est un stablecoin décentralisé , qui utilise des algorithmes pour offrir une stabilité et une fiabilité accrues . Entièrement en chaîne et surveillé par des robots d’intelligence artificielle à grande vitesse, l’écosystème offre des défenses fiables contre les attaques et les actes malveillants. Première ligne de fabrication de pinces fiat, l'USDQ est présenté par l'équipe PLATINUM ENGINEERING, qui cherche à trouver des solutions innovantes en matière de garantie, en utilisant des mécanismes de stabilisation et des oracles pour les pièces de grande endurance. Entièrement anonyme, USDQ dépasse les limites de ce monde hérité.
PLATINUM ENGINEERING partage ouvertement son développement et ses vecteurs de croissance, permettant aux parties prenantes d’en apprendre davantage sur les solutions de pointe dans le domaine des chaînes de blocs / cryptage. PLATINUM ENGINEERING a déjà permis à plus de 150 projets de cryptographie de se développer grâce à l’économie émergente de la blockchain. Les entreprises seraient émerveillées par les nouvelles capacités qu’elles peuvent obtenir grâce à la reconnaissance de leurs modèles commerciaux, à l’automatisation des processus opérationnels habituels et à l’attrait des investisseurs sur les marchés de la cryptographie. L'équipe invite la communauté à contacter directement via les groupes officiels de Telegram , Facebook ou LinkedIn . Les lecteurs apprendront à obtenir de nouveaux avantages concurrentiels en exploitant la blockchain de leur blog .
submitted by leonce1998 to u/leonce1998 [link] [comments]

Fall in love with the problem, not the solution.

Hey - Pat from StarterStory.com here with a writeup from Ahmad Iqbal.
Ahmad was one of the first people I interviewed at Starter Story for his bidet business. Now he's working on building Shopify apps and wrote this awesome post about his transition:
One of the best pieces of advice I was given was to Fall in love with the problem, not the solution. And it wasn’t until I came across a big problem that I realized how perfect this advice is.

My name is Ahmad Iqbal and I’m currently running two online businesses. I am both an Ecommerce Merchant as well as an Ecommerce App Developer.
The first of the two is my online store where I sell hand-held bidets. The later business, borne of the need to increase bidet sales, guided me to designing and developing apps for other merchants, like me.
In this post I want to illustrate how I made the leap from selling bidets online, to building an app design and development team. It’s strange for me to say it out loud, "how does one go from selling butt cleaning appliances to building and marketing apps?" So when Pat from Starter Story reached out to do a follow-up piece to my original post I was happy to try and put my experiences into words. Not just for others to read, but for myself in documenting my journey.
If the title hasn’t already given it away, this will be about my relationship with Problems.
I'm going to start at the middle (quiting my job) and then go to 2015 when this 'starter story' actually started, followed by the meat and potatos of the frameworks we use in our app development model.
My desk and kanban board

Quitting my Job & Making Money through Shopify Apps

From 2015 to 2017 I was working full-time at a global Big Four firm as a Senior Technology Consultant. My job was to help Fortune 1000 companies get their products to market faster. During my time growing my bidet store, I was starting to become more and more immersed in growth marketing. So much so, that I spun out a marketing framework I used for myself and called it the "Agile Marketing Framework" for the firm. Everything I was learning on my own time for growing my own business, was helping me be better for my big clients at my job. But even though doing well at work felt great, it was WAY more fun helping small businesses. In 2017 I had decided the world needs better small businesses, not bigger big businesses.
But in order to quit my job (my Nadeef bidet sales were taking a hit with my attention now diverted between my demanding full-time job, app design/development, and supporting Scout merchants) I needed to figure out if building apps on Shopify would be a viable business model. Was it even possible to earn a living selling apps full time?
It seemed like a tough proposition. I would need thousands of merchants paying at least $20/month to create a successful business. I didn’t think it would be possible, until I came across the Bold Commerce story. This four person team in Winnipeg, Manitoba, had almost the same story as us. Merchants first, identified gaps in the app store, and deciding to build apps on Shopify. Bold Commerce now employs almost 300 people, with no outside funding to date, and with their growth solely on the Shopify platform. This case study was enough to convince us to take the leap, I wanted us to be like Bold.
Having decided it was in fact possible to build positive cash flows through app subscriptions on Shopify, next thing we had to do was get our financing organized.
We decided to take three months to prepare and think about if this problem was something we wanted to dedicate the next several years of our lives to. This three month period was my time to save as much money as I could, and test my own conviction. This time was a constant decision making cycle, where I continually asked myself if the market was big enough, if the problem was widespread enough, and if I had the right pieces in place. It was an important lesson from my first startup attempt almost seven years earlier. In my first startup we picked the wrong market, at the wrong time, with no experience or resources, and the result was a four year uphill campaign that left us in pieces.
So before quitting my job, every dollar of income was saved, Bitcoins were cashed, plans to move out of my parent’s basement were halted, and I started creating a partner network across the ecommerce ecosystem.
We had enough to focus on building our apps for 36 months without worrying about money or raising venture capital. Today we’re on month 12 out of 36.

Let's Talk About the Failure First

Instead of jupming straight into Scout (the first app we built and the main subject of this post) let me first tell you about one of our apps that did not do well. Our "hand-written" notes app was attempted after the initial success of Scout, but it was a wake up call to stay focused on the problem, not the solution.
After quitting my job, and landing on the bigger problem of customer experience as our company mandate (more on this later), we decided to offer hand-written note services. We figured customers would love getting a handwritten note from merchants, so with little else research, or testing, we went ahead and started building out this crazy printer.
A video about how it worked
The app would connect to your Shopify backend, identify your VIP customers, and then convert that customer information into a special Adobe Illustrator script that would feed into the printer. The printer then would proceed to start writing the notes in a handwritten style font (both the letter copy and the addresses on the envelope).
We rolled this app out as an added skill to Scout. Basically, when Scout would alert you about the previous days’ VIP customers, it now offered an additional button labeled "Send Handwrote Card" which when pressed would instigate our printer. When the card was printed, I’d just have to put the postage stamp on it and drop it off at the post office which was across the street from our co-working space.
I believe this idea failed because I fell in love with the solution (cool looking robotic handwriting printer) rather than the problem it was designed to solve. I still believe there is value in this idea, but by overbuilding the solution first, we lost track of what was most important.
If I had to do it again I would have done a few things differently:
1. Manually write and fulfill the cards myself while doing the merchant discovery
Because there exists an intimate relationship between selling the service, and having to manually having to fulfill the service. It gives you more appreciation for the process and what’s important to do it successfully. Like with Scout, where I called my customers up manually through finding their details myself, and only after seeing how to do it well proceeded to systemize it with an app.
2. Personally talk to each merchant who wanted cards written
This would have been the best (only?) way to validate the value of the service. How important is this service for merchants? What else do they wish they could give as 'thank you's? What price would they be willing to pay on high volume handwritten cards? How much does it bother them that the cards are not personally written by the brand, and hence not authentic?
3. Write 0 lines of new code
Why divert precious development time and resources on something if A) it’s possible to do manually, and B) there is no guarantee that it’s a lucrative idea?
Thinking back, this idea was destined to fail for several reasons. Writing notes is very time consuming, there isn’t enough volume in the merchants who wanted to use it, the authenticity of the cards dies if customers figure out it’s not actually written by a person (even though it fooled almost anyone who looked at it). Even if we had done this the lean way and manually tested first, I still think we would have stopped offering the solution. But if I had just followed my four step Identify, Test, Build, Measure framework we would have saved the $4,000 we ended up spending designing and developing the software, and sourcing this printer and it’s parts. I would have found out in the Test section of the cycle that this is way too time consuming and merchants have too many questions about it to feel comfortable signing off on handwritten notes on high volume.
The handwritten note printer is now a piece of decoration at our office, but hey, at least it makes for a good conversation! And it taught me what I'm about to share with you today...

Identifying a Problem

Rewind back to 2015, a few months after opening my Nadeef hand-held bidet store on Shopify I found myself tackling the abandoned checkout problem, something every merchants probably faces. For every three potential customers that reached the final stage of checkout, one wasn’t pulling out their credit card. The way I saw it, I was leaking 33% of my sales in the final, most crucial, "moment of truth."
I was new to this field, I didn’t know the jargon or the best practices, all I knew was I needed to plug this hole. I went down a rabbit hole of recommendations, blog posts, forum threads, apps and YouTube videos. I tried many tactics, with varying degrees of "success" but later I realized I was asking myself the wrong question.
Instead of asking "How can I recovery these sales?" I should have been asking “Why are customer abandoning their checkout?”
At first I tried to extrapolate why they abandoned through the default go-to answers most blog posts claim are the reasons, like shipping timeframes, pricing, return policies, etc. But I knew these weren’t the real issues causing the abandoned cart because I would address them in my auto-recovery emails, exit-popups, Facebook retargeting campaigns, or all the other ways I would try to reduce abandons.
As simple as those recovery tactics may seem, I now know I was overthinking it. There was only one thing I could do to figure out why someone abandoned their checkout. Pick up the phone, and ask them one-on-one.
Before I go on, I should state that my recovery rate at this point was around 10%. And Shopify’s dashboard told me this was a good thing. I just didn’t think that was good at all. It meant that for every 10 people who reached the final stage of their checkout only one person actually returned to buy? Sure it's better than $0, but what about the other 90% who aren't returning? Surely we could do better than 1/10...
...and I wanted to talk to those nine people.
Calling my abandoned checkout customers changed everything. It changed my whole perspective about how to do business, and it continues to change it even now. At first, there was hesitation to call up a customer out of the blue, but the desire to figure out the problem far outweighed any "worst-case" awkward conversation. Not to mention, they weren’t cold leads, these were highly interested customer who reached the final steps of making a purchase. In my head I kept telling myself this was exactly as if someone walked into a store, grabbed some items, placed them on the checkout counter, but just as they were about to pull out their wallet, they turned around and walked out the door. Wouldn’t the store owner ask what’s up? So I just smiled and dialled.
The results were tremendous.
I went from recovering 10% of my abandoned checkouts from auto-emails, to recovering 55% when I got them on the phone. Not only that but by gathering feedback and identifying holes in my offering the percentage of abandons slowly decreased as well.
I’ve outlined my learnings from calling customers in this diagram

Creating a Solution

I saw my process was working, but now I needed to systemize it so I could maintain consistency in my callbacks. I quickly learned that the longer I waited to call the abandoned customer back the less likely I would be able to recover the sale. I really just needed an alert app, one that would push notify me as soon as someone abandoned, tell me what products they left, and their phone number. There was nothing in the app store that provided this function.
Don’t get me wrong, there were tonnes of cart recovery apps available. The top results, the "Top 10" lists, all relied on exit-popups, and auto-emails. I didn’t want an app to take an auto-action by auto-sending an email, or auto-sending a Facebook message. I wanted to be told, so I could take action on it personally. I needed this because I learned how important the one-on-one relationship with my own customer was.
So I called up one of my friends, who was also the developer on my first start-up, and one weekend later Scout was born. It was stupid simple. 20 minutes after an abandoned checkout, Scout would email me with the key details I needed. When I got this email all I had to do was tap the phone number in the email and my phone would automatically start dialling. It wasn’t an exciting or sexy process. It wasn’t even very hard. There was no user interface to design, there was no website to develop, it was just a hacked prototype with one simple, useful, function. If an abandoned checkout, then email me. And it just took a weekend to build.
I used this prototype of Scout for my own needs for several months. It was easier to manage because I was push notified when I needed to take an action. It maintained my high recovery rate. And most importantly, it was fun to know when an abandon happened in real-time, it made my site feel more alive.
Bend the conversion curve
Having used it for a few months and not seeing any slowdown in its utility for my store, we decided this was a tactic every merchant should have in their sales strategy. We iterated on the first version of the email-only alert channel and made it a Facebook Messenger bot, sort of like a customer relationship focused personal assistant. Scout's job would be to alert merchants when a customer abandoned their checkout, and give you their checkout details.
So we published the free app in the Shopify App Store and one review at a time, we realized it was as useful for many others as it was for us. Merchants were sending thank you emails to us, and it was here we felt we had found our first glimmer of that ever illusive "Product-Market Fit."
You have to remember, during this time both my friend and I had full-time jobs, and I was also running my bidet store. Scout was in no way near something resembling a business. And we didn’t approach it at all to be its own business. We just wanted to put something out into the world that would have an impact. Plain and simple. Our first few installs came organically from the Shopify App Store, and a few weeks later we had a small spike as a result of Felix Thea’s Shopify Masters Podcast where, as a guest I spoke about Nadeef and mentioned Scout. We didn’t do any marketing for it until we reached about 1,000 merchants through organic search, which took over a year to achieve.
It felt good making an impact for so many entrepreneurs, but we didn’t feel we had anything to quit our jobs for, yet…

What is "Product-Market Fit"?

Finding product-market fit is a term used very frequently in the startup or entrepreneurial circles. If you’ve found product-market fit, it means you’ve figured out how to consistently deliver value to a group of people (and get paid as a result).
The two components in this equation are Product and Market. In my experience, the key is to start with the market. It’s important to start with the market because that’s the big immovable environment you’re in. It’s uncertain, it’s changing, there are producers and consumers operating in it already. One can’t create a market, one can only play in it, and so the market is the "hard part."
The product side of the equation is the easy part. These days if you can dream it, you can figure out how to make it, or get it made. For example, if you want to build a skateboard that can be converted into a surfboard, you could probably figure that out. Let's assume you've done that, it looks great, and has tonnes of cool features like an intergrated smartphone app! Awesome, great work!
But now that it's built, who’s going to buy it? Where do they live, what's the population of all the surf-friendly cities? Who suffers badly enough from carrying two boards? How big is the problem? How much are people willing to pay for this? How often do they need to buy parts/replace their boards?
The point is, if you confident in your answers to the above questions and your ability to establish a distribution and marketing strategy to your ideal target market, then it makes sense to start product developerment. The same rules apply for app development.
I will clarify that I didn’t think Scout had enough of a product-market fit at the time. I thought we had found some fit, but we still had (have) a long way to go. After all, it is a free app and no one pays for it, so we don’t really have a way to measure if it valuable enough that people pay for it.
The way this went down for us was simple. We were trying to solve my problem first. Being one of the participants in the "market" that had a problem with online sales, I slowly learned what I needed. And when I saw it helped/worked/was awesome, I had de-risked the product enough to feel comfortable going to market with it. In my case, it was as simple as publishing Scout to the app store AFTER knowing it was working for me.
Build, measure, learn diagram
This is again, why the advice of falling in love with the problem, is so great. Because it forces you to think about the market, and its needs, first.

Iterating the Product

Fast forward about a year after using Scout. I was looking through my list of customers, ordered from highest Lifetime Value (LTV) to lowest, and noticed something really fascinating. Eight out of my top 10 customers had originally abandoned their checkout and were individuals I had personally reached out over the phone. This means that by calling my abandoned checkout customers I was not only recovering the sale, but as a result they were turning into VIP customers.
This was a huge wake up call because it helped me understand the real problem in my online sales strategy. If calling my abandoned checkout customers resulted in them becoming loyal customers, what if I also called those who bought without abandoning? If the one-on-one phone call is the common denominator for the high retention rate, why not apply it to more customers?
Thinking back to the phone conversations over the previous 12 months I realized the most valuable bi-product of asking for feedback was not the sale itself. Rather, it was the lasting brand impression that a friendly, pre-sale service call had on my customer. Suddenly my high recovery rate made so much sense. The phone call earned trust with my customers and they were happy to come back and do business with me.
With this realization came clarity about our app focus. Creating customer conversations. Customer relationships are today's small business competitive advantage. And so Scout had its first major iteration, the opportunity we've decided to pursue is to enable customer relationships. We decided Scout’s job for each and every merchant that installs it, is to identify these relationship building opportunities and turn them into one-on-one conversations.
I like the below diagram (as opposed to the one earlier above) for explaining the concept in more detail because it outlines another key step, which is to test your hypothesis. Once you’ve identifying a new problem you want to solve, next thing you should do is run a test to see if your solution will work. If you can solve it, then you should build something to systemize it. If you can’t at least prove your hypothesis is true even a little bit, then I wouldn’t recommend investing more time in building a systemized solution (the product).
Identify/test/build/learn diagram
Once you’ve gone through the loop at least once, you should have identified opportunities for improvements, and this is where Scout is today. Currently we feel we’re on the Learn phase in our third loop.
For those who are interested in the math of our second "Measure" step as it related to my store’s results after 12 months using using Scout:
My top 10 customers had spent at least $600 on my store, through an average of 3 or more purchases. My top three had spent at least $1,000 in 5+ orders. As a comparison, the average customer LTV is $100.
Eight out of my top 10 overall customers were originally abandoned checkouts that I had called and recovered. They went on to be way more likely to become returning and word-of-mouth customers. Based on this, it was safe to say I needed to focus on getting more people on the phone, regardless of whether they abandoned first or not. This was the most recent learning which fueled the next round of product iterations.

Generating Installs

The Shopify App Store is pretty saturated today. There are so many apps on there already, many popular apps even have dozens of copycats. This makes it hard to market apps to merchants, because there is so much noise that’s keeping them from finding your app.
I wish I had some secret formula we used to grow our installs. What I will say is that the vast majority of installs come straight from app store ranking, which I believe is mostly dependant on the number of 5 star reviews and your usable of the right keywords. I’ve added a screenshot of our first 9 months below to show you what the growth looked like in the early days.
first 9 months of installs
You can see that for the first 4 months, we only generated 20 installs. And three of those were from my own store and a couple friends’. The other 17 I believe probably came from the Shopify Master Podcast that I was featured on. To be fair, remember that at this time we were not focused on Scout at all. I had my full-time job, as well as my bidet store, so there were no marketing efforts put into Scout whatsoever. So how did the growth suddenly pick up in January 2017?
I believe it had a lot to do with positive merchant reviews of the app. I think the app store’s algorithms started picking up the reviews we were generating and this caused a sort of upward cycle. Based on this, my advice would be, in order to grow your app installs, focus on your merchant support. Offer the best customer support you possibly can, and keep providing this level of support. It’s worked for us in the past, and it continues to work for us. Every few weeks when we generate several positive reviews in quick succession we watch our installs over the next few days, and it is noticeably larger.
Just like the theme of our apps, of enabling merchants to provide great customer experience, we do the same for our service. We are an app development merchant to business owners. We saw it working in terms of making product sales online, why wouldn’t it work for app companies trying to sell to other businesses?
So far the story checks out.

Customer Experience is Important (because it’s hard)

In my research around ecommerce success stories, I came across Zappos. Their business model was so on point I had to create some content around it in the form of several vlogs. Our series of vlogs talks about several topics around small businesses, especially the advantage that we have as small businesses. Hint: it has a lot to do with our ability to provide a superior customer experience.
To get back to Zappos, Zappos is an online shoe store based in Las Vegas, Nevada, that was eventually acquired by Amazon for $1.2 billion. It just sold shoes, the same shoes you’d find in any regular store, but it did so with a militant focus on the customer experience.
They do this so well that their business has a 75% repurchase rate. Even though it's an online retail business model, I strongly feel the same principles apply to all sorts of models, including SaaS, consulting, whatever.
So how did Zappos do this? They did this by reinvesting a portion of each sale’s revenue, back into the customer’s experience. So instead of taking $20 from $100 sale and giving it to Facebook or Google ads in the hope of acquiring a new customer, they would use that $20 to upgrade their shipping to overnight, send a free pizza, or offer unlimited free returns. This not only made sure they retained the customer (repurchasing customers spent more and bought more frequently), but they also created free word-of-mouth customers through the advocate marketing as a result of the great experience. Tony Hsieh, the CEO of Zappos went on to write a book called Delivering Happiness about this idea, which I would highly reccommend for all merchants.
Speaking of great books, another book also further opened my eyes to the lost opportunities at businesses who don’t focus on the customer experience. Joey Coleman’s Never Lose a Customer Again
opening chapter highlights an interesting ratio of 43:1. For every 43 books about sales or marketing, there is only one book about customer service, experience, or retention. That means the education around creating a customer far outweighs the education around keeping the customer. But why? It's a known fact retention provides more profitability than new acqusitions.
Thinking about why this is, I believe it has less to do with the difficulty of creating "wow" customer experiences, and more to do with how ridiculously easy it is to automate ads and marketing campaigns. I don’t think we’re against doing hard things, but when presented with the easy option, that’s what merchants will take.
Cycle of momentum
If the "orthodox" marketing tactics can be automated (and they can), you should also incorporate the unorthodox campaigns. Things like sending a free pizza and handwritten thank you notes, will close the loop for a complete marketing strategy.
Whether you’re marketing physical goods, or SaaS apps, or even professional services, it’s easy to want to automate everything. Automating Facebook and Google ads, automating email campaigns, automating chatbots, automating discounts, popups, and special offers, automating dropshipping; it’s really easy to do this, and the app stores are overflowing with apps that automate. It’s clear automation is the future, but there is no competitive advantage here.
And so in order to stand out, I’ve learned you can’t automate the hard things. You should try to do the important hard things personally, because it’s in those moments that you will build brand reputation and value.

More than One Solution (to the Problem)

We went from running a Shopify store earning several thousand dollars per month, to developing a suite of apps used by over 10,000 merchants.
Working on Scout, and seeing the success from it, we started ideating other ways of getting customers on the phone. Why does only an abandoned checkout need to result in the phone call? What if a customer is interested in purchasing but hasn’t clicked "add to cart" yet? To capture these unrealized leads we developed the callback app called Raven Callback. Raven turns website visits into qualified sales calls. It helped tremendously on my store, because it started to capture more leads due to its lightweight nature. I didn't think the contact/email form was working for me because it’s too much stuff for customers to type, and they perceive replies would take up to 48 hours, so why bother? Same with the livechat, since majority of small businesses don’t reply immediately. The “immediate” callback did wonders and customers continuously commented it was the best customer service they’ve experienced. So, we ran with Raven as well, based on the success I had with my own store we published it on the Shopify App Store.
Raven only has a few dozen merchants on our paid plans, but just those merchants have directly generated over $500,000 for themselves in sales over the past 3 months since we launched. Again, we’re seeing the phone channel as a great medium to close sales, and it works really well for certain products and services. I think any store that wants to have one-on-one conversations with customers, especially those who sell products over $200, should seriously consider the phone as a sales channel.

What’s Next

Now we’re working on publishing our third app, again, inspired from running my bidet store. It’s not phone related, but it is related to customer experience and building a relationship with your VIP customers. The app is called Pizza Party, and it sends free pizzas to those VIP customers.
Based on the learnings from the "failed" hand-written note product, this time, I'm focusing on more customer conversations about it before going ahead and publishing the app. We're not sure yet when we'll officially launch it, it's about half-way done, but I'm happy to chat with anyone who wants to use it for their store. It’s really fun and easy to use. When merchants install it they just outline the parameters of a "great" customer, like order value, lifetime value or order frequency, and then confirm which customers to send to. For example, if you consider any customer who spends at least $200 per order on your store as a “VIP” customer, then Pizza Party will send a free “thank you” pizza to that customer on your behalf. The merchant pays for the pizza, and we take a small percentage, but it’s super easy to get started and really fun to use. The feedback I was getting from my bidet customers who I sent free pizzas was just too awesome to pass up on this app idea. I sent free large cheese pizzas to customers who bought a few hundred dollars worth of bidets last winter and that small token of my appreciation turned into a few hundred dollars in more revenue; it was triple digit ROI. Customers said it was the best customer service they’ve ever had, ended up sharing the story with their friends, which then resulted in word-of-mouth sales.
If you’ve read this far you’ve probably put together the pattern here. I tried a marketing experiment for my Nadeef Bidet store, and if it worked really well I tried to systemize it. By focusing on solving our own problems first, we now have 3 apps, 3 more in private beta, and plans to roll out for several other platforms very soon. And thanks for reading! If you want to get in touch, or have any quetions, feel free to reach out via email or Instagram
I’ll sign off with a Haiku:
What better problem
Than the one you yourself face
To solve for others too
Liked this text interview? Check out the full interview with photos.
submitted by youngrichntasteless to Entrepreneur [link] [comments]

Fall in love with the problem, not the solution.

Hey - Pat from StarterStory.com here with a writeup from Ahmad Iqbal.
Ahmad was one of the first people I interviewed at Starter Story for his bidet business. Now he's working on building Shopify apps and wrote this awesome post about his transition:
One of the best pieces of advice I was given was to Fall in love with the problem, not the solution. And it wasn’t until I came across a big problem that I realized how perfect this advice is.

My name is Ahmad Iqbal and I’m currently running two online businesses. I am both an Ecommerce Merchant as well as an Ecommerce App Developer.
The first of the two is my online store where I sell hand-held bidets. The later business, borne of the need to increase bidet sales, guided me to designing and developing apps for other merchants, like me.
In this post I want to illustrate how I made the leap from selling bidets online, to building an app design and development team. It’s strange for me to say it out loud, "how does one go from selling butt cleaning appliances to building and marketing apps?" So when Pat from Starter Story reached out to do a follow-up piece to my original post I was happy to try and put my experiences into words. Not just for others to read, but for myself in documenting my journey.
If the title hasn’t already given it away, this will be about my relationship with Problems.
I'm going to start at the middle (quiting my job) and then go to 2015 when this 'starter story' actually started, followed by the meat and potatos of the frameworks we use in our app development model.
My desk and kanban board

Quitting my Job & Making Money through Shopify Apps

From 2015 to 2017 I was working full-time at a global Big Four firm as a Senior Technology Consultant. My job was to help Fortune 1000 companies get their products to market faster. During my time growing my bidet store, I was starting to become more and more immersed in growth marketing. So much so, that I spun out a marketing framework I used for myself and called it the "Agile Marketing Framework" for the firm. Everything I was learning on my own time for growing my own business, was helping me be better for my big clients at my job. But even though doing well at work felt great, it was WAY more fun helping small businesses. In 2017 I had decided the world needs better small businesses, not bigger big businesses.
But in order to quit my job (my Nadeef bidet sales were taking a hit with my attention now diverted between my demanding full-time job, app design/development, and supporting Scout merchants) I needed to figure out if building apps on Shopify would be a viable business model. Was it even possible to earn a living selling apps full time?
It seemed like a tough proposition. I would need thousands of merchants paying at least $20/month to create a successful business. I didn’t think it would be possible, until I came across the Bold Commerce story. This four person team in Winnipeg, Manitoba, had almost the same story as us. Merchants first, identified gaps in the app store, and deciding to build apps on Shopify. Bold Commerce now employs almost 300 people, with no outside funding to date, and with their growth solely on the Shopify platform. This case study was enough to convince us to take the leap, I wanted us to be like Bold.
Having decided it was in fact possible to build positive cash flows through app subscriptions on Shopify, next thing we had to do was get our financing organized.
We decided to take three months to prepare and think about if this problem was something we wanted to dedicate the next several years of our lives to. This three month period was my time to save as much money as I could, and test my own conviction. This time was a constant decision making cycle, where I continually asked myself if the market was big enough, if the problem was widespread enough, and if I had the right pieces in place. It was an important lesson from my first startup attempt almost seven years earlier. In my first startup we picked the wrong market, at the wrong time, with no experience or resources, and the result was a four year uphill campaign that left us in pieces.
So before quitting my job, every dollar of income was saved, Bitcoins were cashed, plans to move out of my parent’s basement were halted, and I started creating a partner network across the ecommerce ecosystem.
We had enough to focus on building our apps for 36 months without worrying about money or raising venture capital. Today we’re on month 12 out of 36.

Let's Talk About the Failure First

Instead of jupming straight into Scout (the first app we built and the main subject of this post) let me first tell you about one of our apps that did not do well. Our "hand-written" notes app was attempted after the initial success of Scout, but it was a wake up call to stay focused on the problem, not the solution.
After quitting my job, and landing on the bigger problem of customer experience as our company mandate (more on this later), we decided to offer hand-written note services. We figured customers would love getting a handwritten note from merchants, so with little else research, or testing, we went ahead and started building out this crazy printer.
A video about how it worked
The app would connect to your Shopify backend, identify your VIP customers, and then convert that customer information into a special Adobe Illustrator script that would feed into the printer. The printer then would proceed to start writing the notes in a handwritten style font (both the letter copy and the addresses on the envelope).
We rolled this app out as an added skill to Scout. Basically, when Scout would alert you about the previous days’ VIP customers, it now offered an additional button labeled "Send Handwrote Card" which when pressed would instigate our printer. When the card was printed, I’d just have to put the postage stamp on it and drop it off at the post office which was across the street from our co-working space.
I believe this idea failed because I fell in love with the solution (cool looking robotic handwriting printer) rather than the problem it was designed to solve. I still believe there is value in this idea, but by overbuilding the solution first, we lost track of what was most important.
If I had to do it again I would have done a few things differently:
1. Manually write and fulfill the cards myself while doing the merchant discovery
Because there exists an intimate relationship between selling the service, and having to manually having to fulfill the service. It gives you more appreciation for the process and what’s important to do it successfully. Like with Scout, where I called my customers up manually through finding their details myself, and only after seeing how to do it well proceeded to systemize it with an app.
2. Personally talk to each merchant who wanted cards written
This would have been the best (only?) way to validate the value of the service. How important is this service for merchants? What else do they wish they could give as 'thank you's? What price would they be willing to pay on high volume handwritten cards? How much does it bother them that the cards are not personally written by the brand, and hence not authentic?
3. Write 0 lines of new code
Why divert precious development time and resources on something if A) it’s possible to do manually, and B) there is no guarantee that it’s a lucrative idea?
Thinking back, this idea was destined to fail for several reasons. Writing notes is very time consuming, there isn’t enough volume in the merchants who wanted to use it, the authenticity of the cards dies if customers figure out it’s not actually written by a person (even though it fooled almost anyone who looked at it). Even if we had done this the lean way and manually tested first, I still think we would have stopped offering the solution. But if I had just followed my four step Identify, Test, Build, Measure framework we would have saved the $4,000 we ended up spending designing and developing the software, and sourcing this printer and it’s parts. I would have found out in the Test section of the cycle that this is way too time consuming and merchants have too many questions about it to feel comfortable signing off on handwritten notes on high volume.
The handwritten note printer is now a piece of decoration at our office, but hey, at least it makes for a good conversation! And it taught me what I'm about to share with you today...

Identifying a Problem

Rewind back to 2015, a few months after opening my Nadeef hand-held bidet store on Shopify I found myself tackling the abandoned checkout problem, something every merchants probably faces. For every three potential customers that reached the final stage of checkout, one wasn’t pulling out their credit card. The way I saw it, I was leaking 33% of my sales in the final, most crucial, "moment of truth."
I was new to this field, I didn’t know the jargon or the best practices, all I knew was I needed to plug this hole. I went down a rabbit hole of recommendations, blog posts, forum threads, apps and YouTube videos. I tried many tactics, with varying degrees of "success" but later I realized I was asking myself the wrong question.
Instead of asking "How can I recovery these sales?" I should have been asking “Why are customer abandoning their checkout?”
At first I tried to extrapolate why they abandoned through the default go-to answers most blog posts claim are the reasons, like shipping timeframes, pricing, return policies, etc. But I knew these weren’t the real issues causing the abandoned cart because I would address them in my auto-recovery emails, exit-popups, Facebook retargeting campaigns, or all the other ways I would try to reduce abandons.
As simple as those recovery tactics may seem, I now know I was overthinking it. There was only one thing I could do to figure out why someone abandoned their checkout. Pick up the phone, and ask them one-on-one.
Before I go on, I should state that my recovery rate at this point was around 10%. And Shopify’s dashboard told me this was a good thing. I just didn’t think that was good at all. It meant that for every 10 people who reached the final stage of their checkout only one person actually returned to buy? Sure it's better than $0, but what about the other 90% who aren't returning? Surely we could do better than 1/10...
...and I wanted to talk to those nine people.
Calling my abandoned checkout customers changed everything. It changed my whole perspective about how to do business, and it continues to change it even now. At first, there was hesitation to call up a customer out of the blue, but the desire to figure out the problem far outweighed any "worst-case" awkward conversation. Not to mention, they weren’t cold leads, these were highly interested customer who reached the final steps of making a purchase. In my head I kept telling myself this was exactly as if someone walked into a store, grabbed some items, placed them on the checkout counter, but just as they were about to pull out their wallet, they turned around and walked out the door. Wouldn’t the store owner ask what’s up? So I just smiled and dialled.
The results were tremendous.
I went from recovering 10% of my abandoned checkouts from auto-emails, to recovering 55% when I got them on the phone. Not only that but by gathering feedback and identifying holes in my offering the percentage of abandons slowly decreased as well.
I’ve outlined my learnings from calling customers in this diagram

Creating a Solution

I saw my process was working, but now I needed to systemize it so I could maintain consistency in my callbacks. I quickly learned that the longer I waited to call the abandoned customer back the less likely I would be able to recover the sale. I really just needed an alert app, one that would push notify me as soon as someone abandoned, tell me what products they left, and their phone number. There was nothing in the app store that provided this function.
Don’t get me wrong, there were tonnes of cart recovery apps available. The top results, the "Top 10" lists, all relied on exit-popups, and auto-emails. I didn’t want an app to take an auto-action by auto-sending an email, or auto-sending a Facebook message. I wanted to be told, so I could take action on it personally. I needed this because I learned how important the one-on-one relationship with my own customer was.
So I called up one of my friends, who was also the developer on my first start-up, and one weekend later Scout was born. It was stupid simple. 20 minutes after an abandoned checkout, Scout would email me with the key details I needed. When I got this email all I had to do was tap the phone number in the email and my phone would automatically start dialling. It wasn’t an exciting or sexy process. It wasn’t even very hard. There was no user interface to design, there was no website to develop, it was just a hacked prototype with one simple, useful, function. If an abandoned checkout, then email me. And it just took a weekend to build.
I used this prototype of Scout for my own needs for several months. It was easier to manage because I was push notified when I needed to take an action. It maintained my high recovery rate. And most importantly, it was fun to know when an abandon happened in real-time, it made my site feel more alive.
Bend the conversion curve
Having used it for a few months and not seeing any slowdown in its utility for my store, we decided this was a tactic every merchant should have in their sales strategy. We iterated on the first version of the email-only alert channel and made it a Facebook Messenger bot, sort of like a customer relationship focused personal assistant. Scout's job would be to alert merchants when a customer abandoned their checkout, and give you their checkout details.
So we published the free app in the Shopify App Store and one review at a time, we realized it was as useful for many others as it was for us. Merchants were sending thank you emails to us, and it was here we felt we had found our first glimmer of that ever illusive "Product-Market Fit."
You have to remember, during this time both my friend and I had full-time jobs, and I was also running my bidet store. Scout was in no way near something resembling a business. And we didn’t approach it at all to be its own business. We just wanted to put something out into the world that would have an impact. Plain and simple. Our first few installs came organically from the Shopify App Store, and a few weeks later we had a small spike as a result of Felix Thea’s Shopify Masters Podcast where, as a guest I spoke about Nadeef and mentioned Scout. We didn’t do any marketing for it until we reached about 1,000 merchants through organic search, which took over a year to achieve.
It felt good making an impact for so many entrepreneurs, but we didn’t feel we had anything to quit our jobs for, yet…

What is "Product-Market Fit"?

Finding product-market fit is a term used very frequently in the startup or entrepreneurial circles. If you’ve found product-market fit, it means you’ve figured out how to consistently deliver value to a group of people (and get paid as a result).
The two components in this equation are Product and Market. In my experience, the key is to start with the market. It’s important to start with the market because that’s the big immovable environment you’re in. It’s uncertain, it’s changing, there are producers and consumers operating in it already. One can’t create a market, one can only play in it, and so the market is the "hard part."
The product side of the equation is the easy part. These days if you can dream it, you can figure out how to make it, or get it made. For example, if you want to build a skateboard that can be converted into a surfboard, you could probably figure that out. Let's assume you've done that, it looks great, and has tonnes of cool features like an intergrated smartphone app! Awesome, great work!
But now that it's built, who’s going to buy it? Where do they live, what's the population of all the surf-friendly cities? Who suffers badly enough from carrying two boards? How big is the problem? How much are people willing to pay for this? How often do they need to buy parts/replace their boards?
The point is, if you confident in your answers to the above questions and your ability to establish a distribution and marketing strategy to your ideal target market, then it makes sense to start product developerment. The same rules apply for app development.
I will clarify that I didn’t think Scout had enough of a product-market fit at the time. I thought we had found some fit, but we still had (have) a long way to go. After all, it is a free app and no one pays for it, so we don’t really have a way to measure if it valuable enough that people pay for it.
The way this went down for us was simple. We were trying to solve my problem first. Being one of the participants in the "market" that had a problem with online sales, I slowly learned what I needed. And when I saw it helped/worked/was awesome, I had de-risked the product enough to feel comfortable going to market with it. In my case, it was as simple as publishing Scout to the app store AFTER knowing it was working for me.
Build, measure, learn diagram
This is again, why the advice of falling in love with the problem, is so great. Because it forces you to think about the market, and its needs, first.

Iterating the Product

Fast forward about a year after using Scout. I was looking through my list of customers, ordered from highest Lifetime Value (LTV) to lowest, and noticed something really fascinating. Eight out of my top 10 customers had originally abandoned their checkout and were individuals I had personally reached out over the phone. This means that by calling my abandoned checkout customers I was not only recovering the sale, but as a result they were turning into VIP customers.
This was a huge wake up call because it helped me understand the real problem in my online sales strategy. If calling my abandoned checkout customers resulted in them becoming loyal customers, what if I also called those who bought without abandoning? If the one-on-one phone call is the common denominator for the high retention rate, why not apply it to more customers?
Thinking back to the phone conversations over the previous 12 months I realized the most valuable bi-product of asking for feedback was not the sale itself. Rather, it was the lasting brand impression that a friendly, pre-sale service call had on my customer. Suddenly my high recovery rate made so much sense. The phone call earned trust with my customers and they were happy to come back and do business with me.
With this realization came clarity about our app focus. Creating customer conversations. Customer relationships are today's small business competitive advantage. And so Scout had its first major iteration, the opportunity we've decided to pursue is to enable customer relationships. We decided Scout’s job for each and every merchant that installs it, is to identify these relationship building opportunities and turn them into one-on-one conversations.
I like the below diagram (as opposed to the one earlier above) for explaining the concept in more detail because it outlines another key step, which is to test your hypothesis. Once you’ve identifying a new problem you want to solve, next thing you should do is run a test to see if your solution will work. If you can solve it, then you should build something to systemize it. If you can’t at least prove your hypothesis is true even a little bit, then I wouldn’t recommend investing more time in building a systemized solution (the product).
Identify/test/build/learn diagram
Once you’ve gone through the loop at least once, you should have identified opportunities for improvements, and this is where Scout is today. Currently we feel we’re on the Learn phase in our third loop.
For those who are interested in the math of our second "Measure" step as it related to my store’s results after 12 months using using Scout:
My top 10 customers had spent at least $600 on my store, through an average of 3 or more purchases. My top three had spent at least $1,000 in 5+ orders. As a comparison, the average customer LTV is $100.
Eight out of my top 10 overall customers were originally abandoned checkouts that I had called and recovered. They went on to be way more likely to become returning and word-of-mouth customers. Based on this, it was safe to say I needed to focus on getting more people on the phone, regardless of whether they abandoned first or not. This was the most recent learning which fueled the next round of product iterations.

Generating Installs

The Shopify App Store is pretty saturated today. There are so many apps on there already, many popular apps even have dozens of copycats. This makes it hard to market apps to merchants, because there is so much noise that’s keeping them from finding your app.
I wish I had some secret formula we used to grow our installs. What I will say is that the vast majority of installs come straight from app store ranking, which I believe is mostly dependant on the number of 5 star reviews and your usable of the right keywords. I’ve added a screenshot of our first 9 months below to show you what the growth looked like in the early days.
first 9 months of installs
You can see that for the first 4 months, we only generated 20 installs. And three of those were from my own store and a couple friends’. The other 17 I believe probably came from the Shopify Master Podcast that I was featured on. To be fair, remember that at this time we were not focused on Scout at all. I had my full-time job, as well as my bidet store, so there were no marketing efforts put into Scout whatsoever. So how did the growth suddenly pick up in January 2017?
I believe it had a lot to do with positive merchant reviews of the app. I think the app store’s algorithms started picking up the reviews we were generating and this caused a sort of upward cycle. Based on this, my advice would be, in order to grow your app installs, focus on your merchant support. Offer the best customer support you possibly can, and keep providing this level of support. It’s worked for us in the past, and it continues to work for us. Every few weeks when we generate several positive reviews in quick succession we watch our installs over the next few days, and it is noticeably larger.
Just like the theme of our apps, of enabling merchants to provide great customer experience, we do the same for our service. We are an app development merchant to business owners. We saw it working in terms of making product sales online, why wouldn’t it work for app companies trying to sell to other businesses?
So far the story checks out.

Customer Experience is Important (because it’s hard)

In my research around ecommerce success stories, I came across Zappos. Their business model was so on point I had to create some content around it in the form of several vlogs. Our series of vlogs talks about several topics around small businesses, especially the advantage that we have as small businesses. Hint: it has a lot to do with our ability to provide a superior customer experience.
To get back to Zappos, Zappos is an online shoe store based in Las Vegas, Nevada, that was eventually acquired by Amazon for $1.2 billion. It just sold shoes, the same shoes you’d find in any regular store, but it did so with a militant focus on the customer experience.
They do this so well that their business has a 75% repurchase rate. Even though it's an online retail business model, I strongly feel the same principles apply to all sorts of models, including SaaS, consulting, whatever.
So how did Zappos do this? They did this by reinvesting a portion of each sale’s revenue, back into the customer’s experience. So instead of taking $20 from $100 sale and giving it to Facebook or Google ads in the hope of acquiring a new customer, they would use that $20 to upgrade their shipping to overnight, send a free pizza, or offer unlimited free returns. This not only made sure they retained the customer (repurchasing customers spent more and bought more frequently), but they also created free word-of-mouth customers through the advocate marketing as a result of the great experience. Tony Hsieh, the CEO of Zappos went on to write a book called Delivering Happiness about this idea, which I would highly reccommend for all merchants.
Speaking of great books, another book also further opened my eyes to the lost opportunities at businesses who don’t focus on the customer experience. Joey Coleman’s Never Lose a Customer Again
opening chapter highlights an interesting ratio of 43:1. For every 43 books about sales or marketing, there is only one book about customer service, experience, or retention. That means the education around creating a customer far outweighs the education around keeping the customer. But why? It's a known fact retention provides more profitability than new acqusitions.
Thinking about why this is, I believe it has less to do with the difficulty of creating "wow" customer experiences, and more to do with how ridiculously easy it is to automate ads and marketing campaigns. I don’t think we’re against doing hard things, but when presented with the easy option, that’s what merchants will take.
Cycle of momentum
If the "orthodox" marketing tactics can be automated (and they can), you should also incorporate the unorthodox campaigns. Things like sending a free pizza and handwritten thank you notes, will close the loop for a complete marketing strategy.
Whether you’re marketing physical goods, or SaaS apps, or even professional services, it’s easy to want to automate everything. Automating Facebook and Google ads, automating email campaigns, automating chatbots, automating discounts, popups, and special offers, automating dropshipping; it’s really easy to do this, and the app stores are overflowing with apps that automate. It’s clear automation is the future, but there is no competitive advantage here.
And so in order to stand out, I’ve learned you can’t automate the hard things. You should try to do the important hard things personally, because it’s in those moments that you will build brand reputation and value.

More than One Solution (to the Problem)

We went from running a Shopify store earning several thousand dollars per month, to developing a suite of apps used by over 10,000 merchants.
Working on Scout, and seeing the success from it, we started ideating other ways of getting customers on the phone. Why does only an abandoned checkout need to result in the phone call? What if a customer is interested in purchasing but hasn’t clicked "add to cart" yet? To capture these unrealized leads we developed the callback app called Raven Callback. Raven turns website visits into qualified sales calls. It helped tremendously on my store, because it started to capture more leads due to its lightweight nature. I didn't think the contact/email form was working for me because it’s too much stuff for customers to type, and they perceive replies would take up to 48 hours, so why bother? Same with the livechat, since majority of small businesses don’t reply immediately. The “immediate” callback did wonders and customers continuously commented it was the best customer service they’ve experienced. So, we ran with Raven as well, based on the success I had with my own store we published it on the Shopify App Store.
Raven only has a few dozen merchants on our paid plans, but just those merchants have directly generated over $500,000 for themselves in sales over the past 3 months since we launched. Again, we’re seeing the phone channel as a great medium to close sales, and it works really well for certain products and services. I think any store that wants to have one-on-one conversations with customers, especially those who sell products over $200, should seriously consider the phone as a sales channel.

What’s Next

Now we’re working on publishing our third app, again, inspired from running my bidet store. It’s not phone related, but it is related to customer experience and building a relationship with your VIP customers. The app is called Pizza Party, and it sends free pizzas to those VIP customers.
Based on the learnings from the "failed" hand-written note product, this time, I'm focusing on more customer conversations about it before going ahead and publishing the app. We're not sure yet when we'll officially launch it, it's about half-way done, but I'm happy to chat with anyone who wants to use it for their store. It’s really fun and easy to use. When merchants install it they just outline the parameters of a "great" customer, like order value, lifetime value or order frequency, and then confirm which customers to send to. For example, if you consider any customer who spends at least $200 per order on your store as a “VIP” customer, then Pizza Party will send a free “thank you” pizza to that customer on your behalf. The merchant pays for the pizza, and we take a small percentage, but it’s super easy to get started and really fun to use. The feedback I was getting from my bidet customers who I sent free pizzas was just too awesome to pass up on this app idea. I sent free large cheese pizzas to customers who bought a few hundred dollars worth of bidets last winter and that small token of my appreciation turned into a few hundred dollars in more revenue; it was triple digit ROI. Customers said it was the best customer service they’ve ever had, ended up sharing the story with their friends, which then resulted in word-of-mouth sales.
If you’ve read this far you’ve probably put together the pattern here. I tried a marketing experiment for my Nadeef Bidet store, and if it worked really well I tried to systemize it. By focusing on solving our own problems first, we now have 3 apps, 3 more in private beta, and plans to roll out for several other platforms very soon. And thanks for reading! If you want to get in touch, or have any quetions, feel free to reach out via email or Instagram
I’ll sign off with a Haiku:
What better problem
Than the one you yourself face
To solve for others too
Liked this text interview? Check out the full interview with photos.
submitted by youngrichntasteless to EntrepreneurRideAlong [link] [comments]

Consensus 2018 Report (Continuous Updates Through May 17th)

Happy Wednesday! We are live!
Consensus Short Statistics
State of Blockchain
Don Tapscott
-"We are entering a new era of trust"
-Generally remarked on the benefits of blockchain. Identified the 7 types of crypto assets (Currencies, Collectibles, Stablecoins, Natural Asset Tokens [Representing minerals, water], Utility Tokens, and Security Tokens.)
FedEx
As I remarked in my comment earlier, FedEx is incredibly bullish on blockchain technology generally, but specifically in it's applications for cross-border shipping and asset-tracking. As I learned, the definition of what constitutes a "coffee cup" differs from place to place. Using blockchain, Smith says, FedEx can protect against unforeseen obstacles at customs. "Information about the package is as important as the package itself," he claims, further adding that the risk of experimenting with cryptocurrency is "de minimis" when compared to its alternative. During the session, FedEx unveiled "Trons", bluetooth-enabled sensors integrated with blockchain first announced in 2016.
Jim Bullard, St. Louis Fed
Fantastic, informational lecture regarding the history of currency and how civilizations have reacted to various implementations. Generally, Bullard notes, humans want a uniform currency. He compared cryptos with state/provincial bank notes, citing the problems faced with exchange, regulation, and value verification. We haven't yet realized this problem with cryptocurrencies since the market cap is relatively small.
Insightful statistics about and charts comparing GDP to the inflation/exchange rates of the DollaYen. Surprisingly, the volatility charts look worse than Bitcoin. Catch all of these when the videos are released later this week.
Summarizing, Bullard claimed that there will be a plurality of coins sharing the ecosystem, each providing a specific use. The Federal Reserve will likely mint a fiat/cryptocurrency that represents a stable stock of U.S. dollars sometime in the mid term future.
Jed McCaleb
I spoke with Jed of the Stellar Foundation. This is a Bitcoin subreddit, so I'll skip this part. You can find the full transcript of his thoughts here.
Charlie Lee and David Schwarz
Both spoke on a panel about interoperability between Bitcoin, Litecoin, Ripple, etc. Developers better understand that most cryptocurrencies can interface as long as they use the same "hooks". Schwartz compared this ideal system akin to TCP-IP; a minimal framework making as few technological demands as necessary.
An ecosystem with multiple coins utilizing different security protocols and consensus mechanisms is "good for Bitcoin". In a theoretical world where power becomes abundant, what happens to PoW? We want the ability to migrate to a new protocol without upending the entire financial system. In a world where security is compromised, redundancy is critical.
Lee sees UI as the next significant hurdle. Not for speculators, but for mom-and-pop investors without much tech savvy.
TxTenna
-Hardware to expand and facilitate mesh networks.
-Even if you own Bitcoin, transfer can be censored/inhibited through the network communicating the transaction to the blockchain.
-Using mesh networks, we bypass many of these constraints dealing directly with sovereign ISP's.
-This is fantastic for Bitcoin users in 3rd world countries/those with oppressive regimes. I will leave this to your imagination.
RSK
-Smart contract platform on top of the Bitcoin protocol. -Ecosystem challenges (Tx costs, security, scalability) -Tx cost is $0.035 - +10% hashing power -Up to 100 tps. -Next -Payment channels (Lumino) -Predicability (Fiat-based fees) -Decentralization (BTC and RSK full-node rewards) -Interoperability (inter-blockchain integration) 
I'm sorry if you find this post lacking/off topic. Attempted to refine down to only what might be relevant to a Bitcoin trader. Even if Bitcoin isn't specifically mentioned, many of these innovations/philosophies will apply to the crypto space generally and, thus, to Bitcoin.
It's already the end of Day 2 and I'm finishing the write-up for D1. I'll compile D2 and D3 for brevity's sake. Most of this news is now relatively (a day) old.
Thanks for your attention and help supporting the crypto revolution.
P.S. "Where is my Consensus boost!? I thought BTC should be $10k by now!"
Historically, the Consensus Boost happens several weeks after the event, likely as news disseminates.
OH FUCK
I FORGOT
Joseph Lubin bets BlockChain Capital's Jimmy Song, "any amount of Bitcoin" that blockchain will have widespread enterprise adoption within 5 years
Day 2
Will try an update. Sitting through, eToro will be opening business in the United States, launching a wallet shortly after. Users can view successful traders' profiles and subscribe to their trades, copying them second-by-second.
Circle announces a USD stablecoin and crypto wallet.
HTC announces a crypto phone.
Deloitte releases preview of cryptocurrency report, shows majority of companies pursuing blockchain.
-"But this is just blockchain". Yes, and a rising tide lifts all ships.
The Magical Crypto Friends Live From Consensus. Warning, shitty audio.
-Founders of several currencies (Litecoin, Monero) discuss Buffett, Bitcoin, and other BS. 56 minute duration. For the hardcore.
Day 3
Alright!
Ledger
-Announcing a consortium for investors/institutions who manage multiple accounts. Today, Ledger Nano S is really only useful to the individual owner.
-Called, "Komino"? (Japanese Script).
-Isn't this compromising the dream of Satoshi? Speaker thinks no. The dream is that everyone can use Bitcoin as they see fit. Large companies can have positions in Bitcoin without changing the life of crypto maximalists who can still use cryptocurrencies.
-Bankers have the right to "Go full Moon and lambos".
Polymath
-The next big wave in crypto are Security Tokens.
-Real estate, equity in companies.
-Amongst crypto VC founders, Security Tokens will comprise 50-90% of the crypto market in the coming years. Currently, the share is approximately 1%.
-You can create a security token right now. Log on here and try the demo.
-First blockchain telegram to reach 50,000 users.
-Integrating with tZero. All new securities should have liquidity out of the box.
-ST-20. A security token standard designed to ameliorate many of the issues with fragmented ICO's.
-Launching a ST Venture Fund, "Polymath Capital".
-New CoinMarketCap competitor. "Tokens.com". Perhaps they'll finally force some innovation on the CMC side.
-Polymath 2.0 TestNet now live.
BlockStack
-Internet 3.0 is here. Mesh networks, decentralized data, crypto assets. We are not storing data with companies anymore, we are personally responsible. One day, we will have a universal ID that removes the need for a rolodex of passwords, usernames, and security questions.
-BlockStack members advise on Silicon Valley. Fun fact.
-Infrastructure and speculative investment grew from less than $100B in January, to $100B in May, and, finally, over $600B by November.
-Sounds like a dApp talk. They're making iTunes for dApps. I'll come back when he says, "Bitcoin".
Jack Dorsey and Elizabeth Stark
-Jack first heard of Bitcoin in St. Louis via a group of Cypherpunks.
-Appreciated the complexity of code, but didn't realize the potential just yet.
-Met some engineers who wanted to build a Bitcoin solution for Square. Buyers/sellers could accept Bitcoin without knowing they were using Bitcoin.
-Community "felt like Usenet" as it developed between 2014 and 2017. "Felt electric".
-Claimed Square's strengths are speed and simplicity. Credit cards are complex and often emotional. Talking about the Cash app, the goal is to revisit the coffee purchase of old and make it feasible using Bitcoin.
-"We have evidence to show people are using this as their primary spending account, their primary bank account, and, in some cases, their only bank account."
-"We have people that have been blocked from entering the financial industry." Even merchants had problems accepting payments. "Reaching the underserved, reaching the unbanked", he says, feels good.
-On Square adopting Bitcoin. "It was certainly contentious within our company." "I guess we always take the mindset that we can't wait for things to happen to us...If we want responsible uses...then we have to make that happen, we have to do the work to educate regulators, educate the SEC, show that we can provide more access to more people...give people a chance to participate in the economy...still a lot of disagreements and fights, but that's where the magic happens. We really push through, and this tested us. There was certainly a spotlight on us because of that fact, but there are a lot of unknowns. We ran towards them."
-On the future, the potential of Bitcoin. "The internet deserves a native currency. It will have a native currency. I don't know if it will be Bitcoin or not, but I hope it will be. I appreciate the technology so much; the principles behind it. Using the guide that the Internet will have a global currency...it's going to happen. As a company, as individuals, we need to learn how to make that happen. The biggest thing I worry about as a company is there is so much openness within the community, I hope nothing corporate will come in and threaten it." Protecting the open-source nature of the work. "This is a discussion I have a lot with Mike and the team. No one company or corporation should own this. This is the main question of everyone I meet in the community. We have a completely open mindset to ensure this remains a completely open platform. Let's not wait for it to happen. Let's do our part to encourage it to be used in healthy ways and ensure that everyone has access to it. If we ever go astray call us out. We can't do any of this without the technology being strong and available to everyone."
-"Obviously we are a centralized organization that benefits from decentralization. It's a theme of conversation within our organization and we're looking to decentralize our workforce. Cash is an interesting application in our company." Going to Australia next week to check in with the local team there. They are agnostic on what locale partners decide to nest in.
-Large corporate HQ's like Twitter and Square, "are a thing of the past". People will be able to work from wherever they please.
-"Nobody is going to a bank for a $6,000 loan. They're going to friends and family." They can all be served with this technology.
-Hesitates to make articulated 5-10 year predictions, prefers patience and iterating as each year develops. "We want to go back to the original idea of being able to purchase a coffee with it. That's why we're working with you. Whatever it takes to get there, we're going to try and make it happen." Encouraging more access to the financial space is the primary objective of the Square organization.
-"Over the past two years since we've really pushed our way into this, I've felt that electricity"
-Elizabeth Stark feels like she's living through the mid-90's again, "In a positive way".
-Stark is an optimist. "Really seeing the value behind the means of transacting without a middle party." It wasn't until Satoshi's whitepaper did we have the means to build a solution to this problem.
-"Our goal with Lightning is to enable an application layer like the Internet". -Stark
-On potential, compelling apps built on Bitcoin. "As I said, there's just so much to trust, to identity, to decentralizing almost everything we use today in a centralized way. We get the power of the crowd, the ability to see so many amazing perspectives and opinions to make our answers much better. I don't think about that as much as I think about what we need to focus on."
-On what they need to focus on. "There's a desire for more. There's definitely an incentive to hold the technology and encourage a mindset of saving rather than spending. But making it easier to spend, easier to transact, easier to do the everyday is what we need to focus on. We aren't necessarily going to be the company that comes up with the right frameworks or technologies, but I'm confident we'll be part of facilitating the process."
-The ultimate relationship with a regulator is that of education, Dorsey claims.
-On becomng a global company. "If we were ever able to use it as a payment mechanism today, we could release it all over the world opposed to the 5 markets we're in today. With each market, we have to find a banking partner, work through the regulatory." Only way to accept credit cards in Japan involved a 15-minute interview with an official. There is a large amount of legacy legislation that hampers adoption.
-On the next steps of democratizing finance. "Hardest part is continuing this conversation...certainly the regulatory bodies around the world, the banks..." Slowly but surely, Square is converting Goldman Sach's-types, showing them the reasons behind the movement. Having, "healthy discussions at the board level."
-On advice getting started in the industry. "Follow the conversation on Twitter, first and foremost. (laughter) And not just follow." When he first followed the industry, he felt like he had nothing to contribute. Join the conversation, express a point of view. "So many people fear expressing an opinion...instead of treating it like a conversation". "While you follow these conversations--jump in. People are going to think you're weird, they'll disagree with you, but you'll sharpen your opinions...find where they resonate." Pursue success from there.
BCash
I visited the BCash table and asked the representative to respond to claims that the company was causing label confusion amongst BTC and BCH. She locked up, asked if I was press, and, "was not at liberty to discuss the topic".
Scam. Scam. Scam. Did I say scam?
That's it for Bitcoin! Thanks for playing Consensus 2018!
I have tons of photos to upload, which I'll share in the Daily General Discussion as they come online.
submitted by MysteriousBarber to BitcoinMarkets [link] [comments]

How to steal 54 millions of dollar from the australian government

I have bumped into this reddit post from token_dave that seems the most likely explanation of the behavior of Craig Wright.
TL;DR: Craig Wright is escaping Australian Tax Office which granted him a $54 Million R&D subsidy based on debunked forged documents.
Australian Tax Authority needs to get involved immediately to stop this farcical nonsense ...
I took the time to reformulate it, and point to links adding evidences to the case, so you can see for yourself if it is a conspiracy or the simplest explanation.
Craig Wright is the founder of DeMorgan Ltd. which received 54 millions dollar as R&D subsidy for expenditure on the C01N supercomputer (bought from SGI via a child company of DeMorgan Ltd. named Cloudcroft) and a software called Hotwire bought from another company Craig founded. (please check the interesting conversation between GoTuckYourbelt and bitledger about the nature of the subsidy, with the raw transcript interview of ATO provided by marcus_of_augustus and the explanation of the cash he received and how of nikcub)
  1. SGI publicly denied the transaction, Craig used forged a document to rank 17th in the top500 computer list, and claimed to make experiences about Bitcoin Scalability,
  2. Hotwire is claimed to be paid in Bitcoin, the transaction id was never revealed,
Then the australian police raided his house for tax fraud.
Craig Wright claims his supercomputer Tulip is located in Iceland outside Australian jurisdiction, allegedly for electricity being cheaper.
Craig Wright is now trying to prove to the tax authority that his expenses were done through his holding that inherited satoshi’s bitcoin. As you can read in the document, Craig Wright is authorized to ask for loan backed by satoshi's coins from the holding for developing bitcoin’s value, and he is claiming that this money is what is being used for paying the expenses which would justify his 54 millions subsidy.
Now Craig Wright is using the 54 million of dollars he received to prove he, or his brother, is satoshi instead of just proving ownership of his bitcoin holding which served the fake expenses. He started by making sure some respected authority in the bitcoin industry will vouch for him. Then tried to reach media coverage as proof that he is satoshi.
Craig is currently using his 54 million subsidy to find way to make the tax authority to believe his story. Maybe he already reached his goal, with 54 million dollars, he can easily corrupt the tax officer, the tax officer who can now cover his ass by pointing out that some “bitcoin experts” testified him being satoshi. (plausible deniability)
Until now:
  1. There is no proof of him having a supercomputer, nor having worked for Bitcoin (as his claim of testing 340 GB blocks)
  2. No cryptographic proof that he holds the bitcoin supposedly in the trust,
  3. lots of bitcoin and security experts agree pointed out various proof deceptions about his posts (forbes, economist, inverse, the Guardian)
Craig Wright has currently a wealth of 54 millions and using it to replace cryptographic proof by validation of bitcoin experts.
He tries to replace the proof of owning Bitcoin (which is hard to fake), with a simpler proof of convincing (and paying) a tax officer of being satoshi.
I would now ask to Australian tax authorities to be very careful about officers investigating his case as 54 millions is enough to bribe basically anybody to close their eyes. Especially if recent coverage provide plausible deniability to a corrupted officer.
I would also be highly suspicious about any manipulation on reddit trying to push the doubt over whether is brother is satoshi, which might be part of his plan.
Sources:
http://uk.businessinsider.com/craig-steven-wright-alleged-bitcoin-founders-theory-on-tulip-mania-bubble-2015-12
http://www.coindesk.com/police-raid-home-of-alleged-bitcoin-creator-craig-wright/
http://www.zdnet.com/article/sgi-denies-links-with-alleged-bitcoin-founder-craig-wright/
https://www.reddit.com/Bitcoin/comments/4hm5l1/telling_craig_wright_deflected_question_about/
http://www.grantcentral.com.au/big-numbers-involved-in-rd-tax-incentive/
https://en.wikipedia.org/wiki/Craig_Steven_Wright
Interview with ATO: https://assets.documentcloud.org/documents/2644013/20140226-Meeting-Minutes-Redacted.txt (courtesy marcus_of_augustus)
submitted by NicolasDorier to Bitcoin [link] [comments]

How To Buy Bitcoin in the USA - Best US Bitcoin Exchange ... Official TBC to BITCOIN Exchange Leaked - YouTube Convertisseur de devises , Currency converter Poloniex: Exchange de Criptomonedas y Bitcoin / Tutorial ... Cuanto Dinero en Bitcoin Tengo Acumulado│Convertidor de ...

The dollar (currency code USD) is the currency of the United States. It is normally abbreviated to the dollar sign $, or alternatively US$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents. Adopted by the United States Congress in 1785, the U.S. dollar is the most-used currency in the world. Bitcoin Dólar USD Nombre; 1 Bitcoin: 10,857.826300 USD: 1 Bitcoin - BTC: 0.1 Bitcoin: 1,085.782630 USD: 0.01 Bitcoin: 108.5782630 USD: 1 cBTC (bitcent) 0.001 Bitcoin ... Le dollar US est divisé en 100 cents. Le taux de change pour le Bitcoin a été pour la dernière fois mis à jour le 6 octobre 2020 par coinmarketcap.com. Le taux de change pour le dollar US a été pour la dernière fois mis à jour le 6 octobre 2020 par le Fonds Monétaire International. La conversion BTC comporte 14 chiffres significatifs. The current Bitcoin to US Dollar exchange rate is 11,408.The price is calculated based on rates on 198 exchanges and is updated live every few seconds. To see the latest exchange rate and see Bitcoin historical prices, head over to the Bitcoin page. Our currency converter calculator will convert your money based on current values from around the world.

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How To Buy Bitcoin in the USA - Best US Bitcoin Exchange ...

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