Weekly update 5th of October

“They say “time is money”. But I want to say “time makes money”. This means time is greater than money.”― Israelmore Ayivor

BitTube is shifting focus to include Airtime on every website on the internet.

Our breakthrough with the Airtime model has got people yearning for TUBEs. We could not be happier to take it further and create a unique model that could help websites & apps get monetized in a revolutionary way. The new approach will be beneficial to website owners, its users and visitors. It will be seamlessly integrated within the UI whilst providing a much better user experience without ads.

Anyone will be able to use our patent-pending Airtime model via a simple browser extension, including an ad blocker and a wallet. Users will be rewarded with TUBEs visiting any website similar to watching videos on the bit.tube platform. The system will automatically create a wallet for the domain. In order for the website owner to claim the earnings, a verification file has to be installed under the domain root folder similar to a Google authentication file. The extension will additionally feature Airtime statistics, one-time and monthly donations and more.

Smart extension rewards and donation functionalities

The system recognizes a social network from a simple blog site and rewards the website or the channel owner depending on the case. Below are some examples from YouTube, Twitch and a regular website:

For YouTube

On Twitch

On a regular website

What about the video platform?

The focus shift to include Airtime everywhere, rather than just one place, had been our long-term plan since the very beginning. We’ve realized, however, that there is no reason not to do it now. It is a strategic move that will only benefit bit.tube while we don’t put all of our eggs in one basket.

What ultimately gives the video platform value is the Airtime monetization system: it rewards people’s attention while removing ads. The video platform in itself has hundreds of challenges to overcome before it can successfully become mass adopted. From difficult technical challenges to brand awareness and legal issues surrounding copyright, although exciting, many of these problems have the potential to slow down the success of Airtime as a stand-alone feature. By shifting our focus in this way, the BitTube brand effectively becomes synonymous with Airtime, while the video platform becomes our ‘killer app’.

The value of a currency comes from its users.

The ‘Airtime Everywhere’ approach expands the pool of potential customers to every corner of the internet and will greatly accelerate brand awareness of BitTube in the long term. In addition to how coin.bit.tube lists features that will drive demand for TUBE on the video platform, there is an inherent demand for TUBE in this new approach.

Essentially, TUBE becomes Internet store credit and by extension, a global Internet currency. At every shop that accept TUBEs as payment, there is a clear incentive to do so, since the users always have coins in their wallet from Airtime acting as a discount. There will be no need to have a full TUBE balance, as the difference can be added using the fiat payment gateway provided by our new partner Wirecard (more on this below). This will consequently provide buying pressure on the market, similar to directly buying coins yourself on Bittrex or on bit.tube via this upcoming gateway.

Moreover, the real value of a currency is derived from the amount of users it has. According to a recent article, there are 2.9 to 5.8 million active Bitcoin users according to a Cambridge University study. This is nothing in real-world terms. Of course, many cryptocurrencies have grandiose claims of becoming a dominant global currency. However, few besides Bitcoin have the arguments to back it up and allof them, including Bitcoin, face the same obstacles: mass adoption requires real use cases, no barrier to entry, simple user experience and last but not least: distribution. All of these problems are solved by our Airtime system and as more coins land in more hands, it will get more users over time.

Bye bye, ads.

Online users are hard to spoil nowadays and engagement rates, especially on traditional websites, are getting lower every year. People are overwhelmed by information trying to get their attention, where the important resource is time. Their time. Our goal is to solve the negative spiral most websites are caught up in, where they want to retain users by delivering valuable content, while at the same time relying on high CTR (Click-Through-Rates) for enough ad revenue that actually drives their users away. We believe that ads have become so invasive that they act as parasites on what has actual value, which is in fact the publisher’s content and the visitor’s undivided time and attention. This is what Airtime solves.

“Remember, when advertising is involved, you the user are the product.”- Jan Koum

Websites that adopt the new BitTube vision no longer need to rely on advertisements to support their online presence. This will lead to increased visitor’s integrity and there will be no need to collect data by massive amounts of tracking scripts. An ad-free experience protects the website from visitors leaving the site distracted by a targeted ad. There are tons of reasons you don’t want to display ads in the first place, and we are not going to discuss them here. Bye bye ads!

We are negotiating a solution for a major company interested in the Airtime model. After our proof-of-concept on the video platform we aim to lead the ‘Web 3.0’ providing online users a global currency for engagement. The new model will come integrated with the upcoming Debit Card.

What could be better than linking your website traffic directly to your BitTube Debit Card?

We are proud to announce that the service provider Wirecard is supporting us to integrate FIAT in our system. It will allow anyone to buy TUBE directly with local currency and cash out using the BitTube debit card. Below you can read how Wirecard describe themselves.

With 16 years of experience on the market, Wirecard AG offers more than 25,000 customers state-of-the-art technology, transparent real-time reporting services and support in developing their international payment strategies: offline, online or mobile. The Wirecard Group has been supporting companies in accepting electronic payments from all sales channels. A global multi-channel platform bundles international payment acceptances and methods, flanked by fraud prevention solutions.

When it comes to issuing their own payment instruments in the form of cards or mobile payment solutions, Wirecard provides companies with an end-to-end infrastructure, including the requisite issuing licenses for card and account products.

As a software and IT specialist, Wirecard is also constantly expanding its portfolio with innovative payment technologies.

Some Key fact about our card provider:

  • Wirecard AG ranks among the world’s leaders when it comes to processing online payment transactions, checking them for risks and performing international processing.
  • 34,000 customers from various industries
  • 4,500 employees
  • Over 100 transaction currencies
  • Connection to more than 200 international payment networks (banks, payment solutions, card networks)
  • Website: https://www.wirecard.com/
  • Wikipedia: https://en.wikipedia.org/wiki/Wirecard

Payment gateway for WooCommerce.

Currently, with more than 4 million installations of WooCommerce is driving most of the online shops. We are in the process of submitting payment gateway add-on for WooCommerce to be available for download at the WordPress plugins repository. Shop owners can download it for free and start accepting TUBE as payment. Once installed, it is integrated inside the WooCommerce dashboard and can be used together with other payment options. Transactions can be made via the online wallet inside the BitTube profile, with the GUI wallet and the easiest is with the Android wallet app due to the QR code functionality. The order confirmation takes several seconds to arrive. The customer can keep shopping, and he/she will be informed via email about the purchase. The website owner will receive the amount within 120 seconds after the purchase has been made. If the network is congested, it could take up to 10 minutes. Security has been taken into account: if the site were hacked, the BitTube wallet used to receive payments stays safe, as it is a view only wallet. If a customer chooses to pay with TUBEs the plugin allows a discount to be applied.

Platform improvements and fixes.

We continue developing and adding new features to the platform. We are working on a new help desk solution and a large knowledge base to help our users solve their questions.

Fixes:

  • Playlist optimizations
  • String HTML of social sharing
  • Sound volume
  • Wallet and airtime optimizations & bugs bugs bugs
  • Muting and unmuting the sound will remember last volume used.

Stay Tuned!
Your BitTube Team

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