New Tipbot Uses Cryptocurrency to Incentivize People to Answer Questions
A new kind of cryptocurrency tipbot allows users to pay others to answer their questions on social media, providing a new tool to pool data in the ecosystem.
Liser Lee of CCTip told Cointelegraph that the system can help drive engagement or generate expert commentary. It lets users create a Twitter poll and automatically pay anyone who shares it with cryptocurrency, helping a poll gain more exposure and answers. The company is also considering a system pays the poll respondents instead.
Other than Twitter, CCTip will also work on Telegram, Discord, WeChat and on Reddit as well. It supports 200 different crypto assets, including Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Tron (TRX) and many Ethereum-based tokens. Tron founder Justin Sun publicly thanked the firm when it added support for TRX in early April.
Lee explained to Cointelegraph that using a cryptocurrency-powered system is more effective when interacting with crypto enthusiasts compared to traditional systems. She pointed out that crypto community members may be simply happy to see their favorite crypto asset being used in the real world:
“If you pay BCH to a BCH enthusiast, he's happy to see that BCH being used.”
Furthermore, the firm also launched the CCTip Ask feature last week, enabling users to ask any Twitter user a question. Lee showcased the system on May 18 by asking Bitcoin ABC lead developer Amaury Sechet if he believes Bitcoin Cash’s value can exceed the value of Bitcoin. Sechet was paid 0.5 BCH (about $114 as of press time) to answer the question he was asked on Twitter through the system. Lee commented:
“[CCTip Ask is] an effective way to get your question answered by a celebrity. If you raise a good question, answering the question is a good way to show your opinions. And it will attract more users' attention.”
Cryptocurrency use in social media tipbots
Cryptocurrencies enable anyone to instantly send payment to anyone else without having to share sensitive information with each other. This feature makes crypto assets the perfect fit for social media tipping, as many users on those platforms prefer to remain pseudonymous or otherwise protect their privacy.
Because of this synergy, there’s lots of development in the crypto tipping space. As Cointelegraph recently reported, blockchain firm Aeternity recently launched its own social media monetization tool, which supports tipping in the form of Aeternity’s native coin, AE.
The ever-changing landscape of cryptocurrency regulation still often threatens companies operating in the space, including tipbot services. In mid-May, XRP TipBot, a service enabling users to transfer XRP to each other via comments on Twitter, Reddit and Discord, managed to save itself from having to shut its operations due to new regulations by partnering with digital payment platform Uphold.