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Tuesday, May 24, 2011

Opportunity: Thy Name is Bitcoin

In Mat Cropp's excellent article for the Bitcoin Sun(@TheBitcoinSun) this week he describes how Bitcoin opens doors to fledgling new startups like Youtipit...
"....As a result of this risk-aversion on the part of large firms, shoe-string start-ups that would have been squelched by big com- petitors in the dollar economy have had the opportunity to gain their footing and some momentum. In the case of micro-payment tipping, YouTipIt has emerged as the leader in the Bitcoin economy and, with a bit of luck and a lot of sweat, is looking like it might have the capacity to take on Flattr head-to-head in the near future. In the absence of the shield provided by the currency risk, YouTipIt, along with many other Bitcoin businesses, would never have gotten off the ground."

Read the full issue here.

When we started this project the goal sounded straight forward: we wanted to create the simplest and most effective service that enabled people to reward somebody when they contributed worthwhile content online. Our paradigm was that of the "Online Street Performer": Make its as easy to give a tip online as it is to tip the busker on the side of the street.

We quickly found out however that any conventional method solely based on
Dollars/Euros would be prohibitively expensive, with numerous legal pitfalls that would render our service unviable. Hence we jumped at the opportunity to base our application on a currency as innovative and flexible as Bitcoin. In his article, Matt compares us to Flattr and argues that without Bitcoin we would not be in a position to compete. Flattr is an excellent service that attempts to implement a similar idea to ours. We feel however, that our service complements Flattrs and that even though we currently do not have the same level of features or funding that Flattr has, Bitcoin allows us to provide a more pure service to our members. If you see something you like, you tip it. You give what you feel is appropriate, what you can afford where and when you want to. You can tip truly anonymously or participate in the community and spread the word about the person you just tipped. You do not need to subscribe monthly to tip, in fact you don't even need an account with Youtipit to tip someone who you like. Youtipit is also likely to be a cheaper way to reward someone online(after all maybe you mined the coins yourself!).

When you receive a tip often its not the value of the tip that matters most, its the fact that someone took the time to reward you with something of actual value: for this Bitcoin is perfect. At the end of the day if you want to give something tangible to someone to acknowledge their good work, its difficult to beat giving them a Bitcoin tip on Youtipit.


The Youtipit team

PS: If Matt or any of the guys from the Bitcoin Sun wish to create a tipit on Youtipit we will be sure to reward you for your excellent publication.


  1. Can't wait until bloggers, musicians and other creatives figure out that having a tipit is the easiest way to get started accepting bitcoins.

    I do want to compensate with a tip those who have made my life better, but I want it to be entirely voluntary and through some means where the only one making out is the middle man (e.g., PayPal, Facebook, or Flattr)

  2. Unfortunately I guess we are a middle man for Bitcoin but I hope you can see what we are trying to build with Youtipit :-)

  3. I'm glad you guys liked the piece; I've been following your project for some time with great interest. hopefully the Sun's proper website will be up in the near future, and we'll definitely create a tipit. On a side-note, would you be interested in doing a short email interview for a future issue - I think it'd be neat to dig a bit deeper into the nuts and bolts of what you're doing :)

  4. Sure Matt that would be cool, just drop me a mail at brian at