Hi Guys,
i would like to tip small amounts. Like less than $1. the issue on here is that i should use my official address. I use counterparty but when i sent btc there i pay 0.0002 which is like $0.15 as a fee. Thats huge given the amount that i am tipping.
I could tip via coinbase for free however i cannot decide which address this comes from. does anyone have an idea to deal wth this?
Can we define what address my coinbase money comes from?
Bitcoin and Counterparty are expensive for tipping small amounts. It is a known issue. I'm pretty sure you would pay the fee if you sent from coinbase to a tipping address as well.
I'll throw this out there. Would you use an off-chain web-wallet if there was one for LTBcoin?
Say the fees were much smaller than $0.15 and off-chain tipping transactions in the LTB network were instantaneous.
Would this be of interest?
@deweller Bitcoin and Counterparty are expensive for tipping small amounts. It is a known issue. I'm pretty sure you would pay the fee if you sent from coinbase to a tipping address as well.
I'll throw this out there. Would you use an off-chain web-wallet if there was one for LTBcoin?
Say the fees were much smaller than $0.15 and off-chain tipping transactions in the LTB network were instantaneous.
Would this be of interest?
Nope, coinbase transactions are free entirely. One of the reason why its my wallet of choice anytime i sent btc. they pay the miners fee and they advertise this.
i don't really want another wallet. tipping is not quite that important to me that i would make a wallet for it, especially if its just cheaper.
i think the solution is actully to do this off chain via ltb directly. Let me have an account inside ltb and let me tip this way for free.
Is this what you were proposing?
@deweller Bitcoin and Counterparty are expensive for tipping small amounts. It is a known issue. I'm pretty sure you would pay the fee if you sent from coinbase to a tipping address as well.
I'll throw this out there. Would you use an off-chain web-wallet if there was one for LTBcoin?
Say the fees were much smaller than $0.15 and off-chain tipping transactions in the LTB network were instantaneous.
Would this be of interest?
Nope, coinbase transactions are free entirely. One of the reason why its my wallet of choice anytime i sent btc. they pay the miners fee and they advertise this.
i don't really want another wallet. tipping is not quite that important to me that i would make a wallet for it, especially if its just cheaper.
i think the solution is actully to do this off chain via ltb directly. Let me have an account inside ltb and let me tip this way for free.
Is this what you were proposing?
That is one proposal yes, let me ask for your opinion about the other.
We have built an automatic bitcoin or asset sending system that lets you put in either usernames or bitcoin addresses, and the amount to send to each, and it gives you a single address to send the bitcoin miner fee(and asset if you are sending an asset). Our system pays about 1/4th the standard bitcoin fees and takes at most 10 blocks to get in at those reduced fees.
The proposed system would be that each comment, forum post, or piece of content would have a "tip" button on it. When you click the little version, it would pop up your standard tip amount (each user would define this), whether its in Bitcoin, LTBCOIN or something else. You would be able to modify the number with either a +/- or just type in the amount manually. You can click a Cancel or Confirm button, if you confirm it makes an entry in a distribution noting you want to send that value from you to the person you want to tip.
At the end of the day or the week you "Settle up" and are given a total amount as well as a reckoning of what everyone is going to receive. You've spent the week programming the recipients and amounts, You pay the total amount and the system handles the sending for you.
This is all on-blockchain, but again it's quite cheap and the experiance of tipping no longer requires you to do anything but click the button. We can even prevent people from spending tokens they don't have by asking them to attach an address to their account by showing them a unique "Prove I am this user" address, sending a tiny amount to it and thus associating that sending address as being under my users control.
@deweller Bitcoin and Counterparty are expensive for tipping small amounts. It is a known issue. I'm pretty sure you would pay the fee if you sent from coinbase to a tipping address as well.
I'll throw this out there. Would you use an off-chain web-wallet if there was one for LTBcoin?
Say the fees were much smaller than $0.15 and off-chain tipping transactions in the LTB network were instantaneous.
Would this be of interest?
Nope, coinbase transactions are free entirely. One of the reason why its my wallet of choice anytime i sent btc. they pay the miners fee and they advertise this.
i don't really want another wallet. tipping is not quite that important to me that i would make a wallet for it, especially if its just cheaper.
i think the solution is actully to do this off chain via ltb directly. Let me have an account inside ltb and let me tip this way for free.
Is this what you were proposing?
That is one proposal yes, let me ask for your opinion about the other.
We have built an automatic bitcoin or asset sending system that lets you put in either usernames or bitcoin addresses, and the amount to send to each, and it gives you a single address to send the bitcoin miner fee(and asset if you are sending an asset). Our system pays about 1/4th the standard bitcoin fees and takes at most 10 blocks to get in at those reduced fees.
The proposed system would be that each comment, forum post, or piece of content would have a "tip" button on it. When you click the little version, it would pop up your standard tip amount (each user would define this), whether its in Bitcoin, LTBCOIN or something else. You would be able to modify the number with either a +/- or just type in the amount manually. You can click a Cancel or Confirm button, if you confirm it makes an entry in a distribution noting you want to send that value from you to the person you want to tip.
At the end of the day or the week you "Settle up" and are given a total amount as well as a reckoning of what everyone is going to receive. You've spent the week programming the recipients and amounts, You pay the total amount and the system handles the sending for you.
This is all on-blockchain, but again it's quite cheap and the experiance of tipping no longer requires you to do anything but click the button. We can even prevent people from spending tokens they don't have by asking them to attach an address to their account by showing them a unique "Prove I am this user" address, sending a tiny amount to it and thus associating that sending address as being under my users control.
Love the idea of having a button that reconciles each week. That would reduce the fees and seems like a bloody easy way for this to go for everyone.
If you have built this, by all means launch it.
It sounds a lot better than what we have already.
I personally would prefer to just be able to sent counteraprty assets and btc to my ltb account and then be able to instantly tip from there directly. But i am certainly not the market in this regard.
I value well run companies and websites and have no problem trusting them, especially with small amounts to make my life easier.
I think the weekly thing is not a bad work around, but only works when i tip often in a week. if i just want to sent $0.5 and know i am paying 0.2 on top that would discourage me from starting the first tip, while i have no issue throwing 0.5 around any time.
Its also important to not have to go to a waller etc so a small 1-click button is key as well. I might want to tip, but if u make me work ill just leave it.
On the other hand, i am logged in any time i read ltb because i am point whoring anyway so give me a button and ill tip any article i like for tiny amounts.
My personal feeling is that this sort of simlicity could best be achieved via integrating it into the site?
BTW the btc payment can be very easy handled for free with coinbase. You could add an coinbase btc address to each account and use the coinbase api to send tips, all for free and instant. U could implement this in a like day too.
@deweller Bitcoin and Counterparty are expensive for tipping small amounts. It is a known issue. I'm pretty sure you would pay the fee if you sent from coinbase to a tipping address as well.
I'll throw this out there. Would you use an off-chain web-wallet if there was one for LTBcoin?
Say the fees were much smaller than $0.15 and off-chain tipping transactions in the LTB network were instantaneous.
Would this be of interest?
Yes, this would work well. For instance -- you could have a LTBC wallet associated with your LTB account. Then you could put some of your funds there as a tipping bank. You send and receive tips there, and then when you're ready to cash out, you can do that for like a 1% or .5% fee like on the exchanges. That fee then goes back to the network. Is this what you were thinking?
A system in which users designate tips that they want to send, then settle up later sounds like it would work nicely.
However, for reasons stated above it may not always be beneficial to settle up at regular time-based intervals. Perhaps a default setting should contain a threshold? For instance, in order for my tips to go out I must have accrued $10.00 worth of due tips. You could then continue on the time-based interval.
At that rate, it would also probably be necessary to have some way of pushing the tips out if an individual does not anticipate hitting their threshold anytime soon.
@mjroncone I believe it would be at your own discretion when payments are settled, rather than it being automated or you having to keep up on it. You could build up a bunch of tips then pay them off a month later if you want.
The off-chain wallet (i.e, depositing ltbcoin on the site) is actually the easy way out for a solution to this. The main thing with it is that we don't want to hold on to your money on the server or otherwise if we can avoid it. For obvious security reasons and also to avoid that extra responsibility. The tipping reconciliation idea seems like a decent compromise between being able to easily and quickly make tips without having to open up your wallet each time, while at the same time eliminating the primary security risks (us keeping your money safe)
@William - yes that is essentially it.
I'm not sure how the fee structure would work since it is in the planning stages now. But I expect there will be a small fee (in LTBcoin only) charged per tip. To cash out you'll need to send some BTC dust to a payment address to cover the transfer fees. Your weekly distribution would go straight to your off-chain wallet, and your debts would immediately be settled. If you run up a big tab and your weekly distribution doesn't cover it, you will need to send in LTBcoin from counterparty.
The other proposal on the table is to let you run up a tab during the week, but you would have to send in LTBcoin to pay it. The LTB network would make it very convenient for you to pay your tipping bill for the week by providing a single address to pay to. You would need to send some BTC dust and LTBCOIN to cover the transactions. More transactions would mean slightly more BTC fees (roughly 0.256 mBTC per tx).
Both solutions have pros and cons. I'd love to hear everyone's feedback and ideas.
@deweller @William - yes that is essentially it.
I'm not sure how the fee structure would work since it is in the planning stages now. But I expect there will be a small fee (in LTBcoin only) charged per tip. To cash out you'll need to send some BTC dust to a payment address to cover the transfer fees. Your weekly distribution would go straight to your off-chain wallet, and your debts would immediately be settled. If you run up a big tab and your weekly distribution doesn't cover it, you will need to send in LTBcoin from counterparty.
The other proposal on the table is to let you run up a tab during the week, but you would have to send in LTBcoin to pay it. The LTB network would make it very convenient for you to pay your tipping bill for the week by providing a single address to pay to. You would need to send some BTC dust and LTBCOIN to cover the transactions. More transactions would mean slightly more BTC fees (roughly 0.256 mBTC per tx).
Both solutions have pros and cons. I'd love to hear everyone's feedback and ideas.
I don't think that the idea of running a tab is a good one. Tips should be final and immediate, just like when you put change in a busker's guitar case. You can't tip if you don't have the quarters (LTBcoin). If this is being done off-blockchain, it shouldn't be covered at the point of withdrawal to counterparty. That's what I think.
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