A few weeks ago, a friend and I had the idea to build an app to send and receive bitcoin over social networks. There have been many times in the past where we wanted to send bitcoin to people on Facebook or Twitter (to tip, or as a gift, or to pay back friends), but could never do it easily. The recipient has to set up a wallet, understand how it all works, and send me their address, among other things.
The entire bitcoin experience seemed to be a real pain for average users. We thought they would be more at ease transacting on platforms they’re familiar with, with people they can identify and trust, as opposed to anonymous addresses.
It’s quite straightforward: you can send bitcoin to anyone on Facebook or Twitter. You can also receive bitcoin from anyone by sharing a link: coingram.co/[your-username]. And you can send very tiny amounts (as little as 1 micro-bitcoin). Everything is free.
We have many features planned (mobile app, embeddable buttons, attaching media to your transaction) but we think it's reached a point where we want to see if anyone's actually going to use the darn thing.
We think it has some potential. What do you guys think?
So, I assume you're storing the bitcoin in transit, right? What happens if I send bitcoin to someone and they don't claim it? Will you give it back to me, store it forever, or keep it for yourself? Are you ever converting it to fiat, or keeping it all in bitcoin?
If you're storing bitcoin, will it be stored in internet connected servers, or will you be using cold storage (and can you talk about what type of cold storage you're using)? and will you be acting as a fractional reserve or not?
I will not, under any circumstances, recommend a service that is not 100% open source to new Bitcoin users. This is not an ideological stance, but a practical one - if I don't know what you're doing with their money, I can't advise them to trust you.
Seeing as your service caters almost exclusively to new or unsophisticated users, that means it has no value to me.
The entire bitcoin experience seemed to be a real pain for average users. We thought they would be more at ease transacting on platforms they’re familiar with, with people they can identify and trust, as opposed to anonymous addresses.
So we built Coingram: https://coingram.co
It’s quite straightforward: you can send bitcoin to anyone on Facebook or Twitter. You can also receive bitcoin from anyone by sharing a link: coingram.co/[your-username]. And you can send very tiny amounts (as little as 1 micro-bitcoin). Everything is free.
We have many features planned (mobile app, embeddable buttons, attaching media to your transaction) but we think it's reached a point where we want to see if anyone's actually going to use the darn thing.
We think it has some potential. What do you guys think?