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Tipping Bots Are Getting a New Lease on Life thanks to Bitcoin Cash

Tipping Bots Are Getting a New Lease on Life thanks to Bitcoin Cash

Reading Time: 3 minutes by on April 11, 2018 Altcoins, Bitcoin, News
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Tipping bots used to transfer micropayments have been gaining traction once again despite the concept’s age. These platforms allow users to send small amounts of cryptocurrency to other users. Thanks to Tippr, for instance, people can now tip Bitcoin Cash (BCH) through many social media platforms like Reddit, Twitter, and Facebook.

Dead Rising: The Return of the Tip Bots

In the early days of bitcoin, when altcoins were unheard of, it was the preferred and de facto option for micro-tipping within crypto communities. However, following the currency’s soaring transaction fees throughout 2017, it became economically infeasible for bots to continue offering bitcoin-based tips for amounts under $15.

The BCH community, on the other hand, has been actively developing several tools to increase its adoption. These efforts include tipping with the cryptocurrency via the internet or even using the almost antiquated SMS functionality.

As a result, several tipping bots are now functional, offering a simple way to transfer BCH between users. At this time, these services are primarily used by users on Reddit and Telegram.

ChangeTip, founded in 2014, was one of the first companies to offer such a service, albeit in bitcoin. By the time the service had processed roughly 350,000 bitcoin tips, serving over 100,000 users, in late 2016, the company had announced that it would be shutting down its operations.

While the development team offered no reason for the closure, it is likely that high bitcoin transaction fees and server costs could have become a problem for the tipping platform.

Tippr, a spiritual successor to ChangeTip, was launched as a micropayment option on Reddit a year later, in August 2017. Today, Tippr describes itself as a Bitcoin Cash tipbot for Reddit and Twitter. The developers plan to bring the bot to other social media platforms and eventually add support for other cryptocurrencies.

A user on Reddit looking to use Tippr to tip another user can simply comment “/u/tippr” followed by the amount of money they wish to transfer. The command to tip another user on Reddit would read as “$0.50 u/tippr” while the same command can be used on Twitter by mentioning the tippr twitter handle and typing “$0.50 @tipprbot”.

BCH Community Finds Use Case in Tip Bots

The launch of Bitcoin Cash in August 2017 has aided tipping sites as transaction fees for the cryptocurrency have remained relatively low. According to data made available by Tippr, the tipbot has managed to transfer 59.9 BCH to date, equivalent to around $85,261.

BCH Transaction Fee Chart

(Source: Bitinfocharts)

Stats further highlight that 11,810 users made a total of 25,576 tips by using tippr. A user by the title, ‘asicshack,’ is recognized as the most generous tipper on the platform, having distributed $7582.6 in tips to other users so far. On the other hand, user ‘rawb0t’ has been the highest recipient of tips and has received $4284.2 from a total of 154 tips.

Another such tipbot that has found significant use is TipmeBCH. This bot can be used on the Telegram messaging application. Telegram, unlike most other popular messaging apps, supports the use of bots over its platform, allowing TipmeBCH to function effortlessly.

Another reason to have a tipbot on Telegram is that it has become the preferred discussion platform for several cryptocurrency enthusiast groups. Once this inline bot is added to the group, users can simply type “/tipbch” to tip another user. Other commands, such as deposit and balance, are also supported by the bot. TipmeBCH is an open source tipbot, and its code can be reviewed on Github by anyone inclined to do so.

Currently, these tip bots are restricted to only a few social media platforms. Many believe, however, that for these tipping platforms to go mainstream, they need to be available elsewhere too. For instance, if bots can be used to tip ride-sharing drivers or pizza delivery boys, cryptocurrencies will find application in the real world despite the clamor of critics.

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