A straightforward method for B2C companies to provide Bitcoin cashback to their customers making fiat purchases seems like a smart way to increase bitcoin adoption while being a substantial global business opportunity. People prefer to spend their bad fiat currency and save in sound money. Companies are eager to acquire new customers and retain their current ones. Perhaps a service that simplifies the process of adding a LNURL withdrawal QR code to fiat receipts or a similar solution could find a strong product-market fit. This solution could be implemented as a standalone service, a LNbits extension, or through other means. Do you have any additional information or thoughts on this?
pull down to refresh
1884 sats \ 1 reply \ @k00b 10 Sep 2023
Oshi does exactly this @michael
reply
296 sats \ 0 replies \ @michael 3 Oct 2023
Thanks @k00b! :)
reply
878 sats \ 1 reply \ @netstatic 10 Sep 2023
I've tried implementing something like this but in the service industry. My solution didn't integrate into any POS system and relied on the staff to facilitate the distribution of awards by confirming reward payout amounts. The staff were the ones who ended up "killing" the idea (it's technically not completely dead yet) because they had no interest in informing customers of this program and didn't care for customers using cashback in the future (since they wouldn't be getting the same amount in tips).
Even if we aligned incentives better so they would receive some of the cashback (which is hard because the business owner would probably be against lowering margins any further and we were already low amounts in cashback), they didn't seem to care enough to learn how to sell/spend their Bitcoin.
My learning from this was that I overlooked the incentive requirements that needed to be present for everyone in the pipeline to enthusiastically participate, since service workers don't seem motivated enough to do anything "extra" for their jobs (even if these things were made to be part of their jobs by their boss).
reply
20 sats \ 0 replies \ @michael 3 Oct 2023
This is what we saw fairly often when onboarding businesses to Oshi. It's the dark side of accepting bitcoin or rewarding it. That's why we've integrated into the Square point of sale, Shopify, and WooCommerce to make it seamless for employees and customers.
Furthermore we have various other features so customers can keep track of their rewards and withdraw them if they'd like as well.
You can learn more at https://oshi.tech or you can check out our latest updates from today: https://twitter.com/OshiApp/status/1709251099977249082
reply
100 sats \ 0 replies \ @grayruby 10 Sep 2023
Joltz is doing bitcoin rewards as a service.
reply
0 sats \ 0 replies \ @michael 3 Oct 2023
Hey! I'm a little late to this but this is what we're doing at Oshi.
You can learn more here: https://Oshi.tech/
Our blog posts deep dive into what you describe in your post.
We've recently released some new features that do even more: https://twitter.com/OshiApp/status/1709251099977249082
reply
0 sats \ 2 replies \ @DarthCoin 10 Sep 2023
Why not incentive directly the customers to PAY in BTC?
FUCK FIAT!
Make it like:
- pay in fiat cash - price remain the same, no discount
- pay with VISA/MC/shitcards - pay extra 5-10%
- pay in BTC - you get 10% discount
In this way you make people to think more about USING bitcoin and also the shop is getting more BTC.
Let's create that Bitcoin circular economy once and for all, not sustaining forever a fiat shit economy!
reply
0 sats \ 1 reply \ @themaster OP 10 Sep 2023
Businesses seek profits, and people tend to hoard valuable currency while spending less valuable currency (according to Gresham's Law). We can't change these inherent traits of human psychology or companies' motives overnight. Nevertheless, we can take these factors into account to promote the adoption of Bitcoin as a reliable store of value.
reply
100 sats \ 0 replies \ @DarthCoin 10 Sep 2023
I onboarded a lots of merchants during all these 10 years.
Here is an example story
Now,. from 2018 ongoing I live literally using only BTC and pay for my groceries with BTC and get 10% discount all the time. I can order whatever the fuck I want from the local shop and they will bring it to my door, paying with BTC.
Why?
Because the shop owner realize that BTC is power and fiat is shit. He WANTS MY BTC !
reply