Mashing MyFridj.com with TipIt.to?

Recently I was checking out the Web2.0 Expo Berlin and BarCampBerlin ahead of it. I came across the Four Starters and its one of the most interesting offshoot – tipit.to
TipIt.to
And sometime back, I commented in Brave and Inspiring Dawn Douglass’s Dankey Notes blog. She was sharing her micro-payment strategy for MyFridj – a digital goods based cartoon like content syndication platform.
MyFridj

Purpose of this post is to do my bit of serendipity enhancement for both TipIt.to and MyFridj to explore each other. And I also want to ask Four Starters, especially Alper, how they are handling the identity verification cost involved in micro-payment service.

I’m watching and experimenting with micro-payments. The recent release of Avatar Voodo/Treepu is my hands on experimentation on SecondLife Linden dollar and Mturk as micro-payment platform.
Treepu Sapling Teleport
Indeed, I was checking out WebExpo2.0 and BarCampBerlin just to check if it is feasible to pull off a mini-stunt with Avatar Voodo
Ready to Give, Get Tips?.

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About labsji

I blog, Therefore I exist ! Funny things are funny to me. Cool things are cool to me. Innovations tick me. I attempt spirituality religiously :)
This entry was posted in Avoodo, barcamp, mashups, micropayment, mturk, serindipity, serindipity is geography, treepu, Web 2.0 and tagged , , , , , . Bookmark the permalink.

5 Responses to Mashing MyFridj.com with TipIt.to?

  1. Tipit doesn’t handle identity verification – at least, not in the way the term ‘micropayment’ suggests. Because tipit facilitates tips there’s no need for us to have complicated guarantees, callbacks, and finance verifications. We just create a row in a database someplace, and that’s that.

    Every so often you go to our site and pay off tips in bulk. That does of course get all the verification a finance transaction needs, but the bulk aspect means it’s cheap on a per tip basis, both in transaction costs and in personal time needed to confirm payments. As a result, our finance picture is much simpler: 100% goes to the tipjar owner, minus transaction fees. We make our money by solliciting tips from tipjar owners and interest.

    Webcomics have been on the agenda as primary use case for tipit.to since its inception. I for one would love to lavish some financial kudos on a folder full of comic RSS streams, for example. Would love to work with myfridj to make life easier for comic authors, and there’s always room to dedicate a set percentage of tips to an intermediator like myfridj.

    Maybe we’ll see each other at berlin!

  2. labsji says:

    As I understand it, TipIt.to is some kind of widget like the MyBlogLog widget that ‘Remembers’ your tipit account. Based on where you click in the tip icons, tips gets transfered from one TipIt account to another. Periodically the account prompts for squaring up your tips with cash.
    TipIt earns fee on withdrawals as transaction fee and Tipit gets to keep the cash in float.
    If tip jar owners are not identity verified, in steady state, a lot of anonymous accounts can transact a lot cash as tips. This will be fertile ground for illegal activities which the law enforcement will not like.

    Thus, without identity verification, sustainability of a tip service is not possible. If identity verification is compulsory, it might hinder rapid adoption of TipIt.

    What are the legal and tax implications?

  3. That’s not really how it works. We’ll lauch soon – you can check out more details then. I read what you’re saying and it won’t be a problem, we’ve covered that angle. You can’t use tipit as a money laundering device.

  4. dawnkey says:

    Hello again. 🙂 Thank you for the personal compliment (that’s sweet…you’re too kind), and for your continued interest in MyFridj.

    I’m still working on getting funded. I’m pitching before an angel network next week and another one the following week. Getting lots closer, but its taking time to get all the money we need.

    We actually have something else in mind for our own development, but I wish TipIt much success…sounds like a good idea.

  5. labsji says:

    @Dawnkey, @Reiner Good that you have checked each other out.
    Wish both of you god speed in the short term and massive success in the long run.

    -Balaji S.

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