[AMA] I am the founder of BitcoinRewards.com.au, a new cashback site that rewards members with Bitcoin

AssociatedLBitcoinRewards @ BitcoinRewards on 04/11/2017 - 19:54
Last edited 05/11/2017 - 23:18 by 2 other users

Hello Ladies and Gents,

I think cashback rewards are great - but bitcoin rewards are better :)

I am working on a cashback site that works extensively with Bitcoin. I'm based in Queensland and have been involved in the bitcoin scene since 2013. I want to assist in making bitcoin accessible to everyday Australians.

I believe we can help remove a barrier to entry for Australians that want access to bitcoin and other digital currencies. Essentially we plan on rewarding Australians with bitcoin for what they are already doing - shopping online.

I welcome your feedback, opinions and any questions on bitcoin and/or bitcoinrewards.com.au - please note the service has not yet launched, our devs are busy working on the development and the existing domain directs users to a waiting list so we can inform them when we launch.

Regards

Kahn

Introduce Yourself

Related Stores

BitcoinRewards
BitcoinRewards

closed Comments

        • idonotknowwhy on 08/11/2017 - 13:35

          Not all exchanges do. If you're worried:
          1) Send to Cryptopia (no AML)
          2) Buy ZCash, withdraw to wallet
          3) Send ZCash to a Z_Address
          4) Send ZCash to the T_Address of another exchange where you've verified your identity.

          5) Now your BTC is 'clean'. Except it might not be, because you don't know where your exchange got the BTC from lol.

          I agree, BTC lacks fungibility, and that's it's biggest weakness imo.

        • gringo on 08/11/2017 - 14:12

          well that's it.. this guy could be located in Russia for all you know, or sourcing the coins from someone who is at a discount.

          There are no reputable cashback sites that pay in BTC - it's a big red flag & not worth it.

          If it was sourced directly from miners however, that's different - but I suspect such "clean" coins will be worth a premium in future.

        • lancedefrance on 08/11/2017 - 14:32

          @idonotknowwhy:

          what do you mean that it lacks "fungibility"? can you please explain.

        • AssociatedBitcoinRewards @ BitcoinRewards on 08/11/2017 - 14:45

          @gringo: What if I told you bitcoins don't actually move - just the ownership changes? Therefore there are no dirty coins, only dirty owners? Doesn't matter what you are transacting with, it can be used for good and bad. I can't change other peoples intentions, but I certainly make sure mine are good.

        • idonotknowwhy on 08/11/2017 - 15:12

          @lancedefrance: Well you can trace where every bitcoin has been.
          Fungibility is a feature of any useful currency, whereby it all has the same value. A $1 coin has the same value as any other $1 coin.

          With bitcoin, it's possible to know that certain coins have been stolen (hacked exchanges), used to buy drugs, pay for bikies, etc. In theory, it's possible for exchanges or merchants to 'blacklist' certain tokens. In this case, the burned bitcoins might only be worth 40% or 30% of the value of a 'clean' bitcoin, in which case you can't be sure that 1BTC == 1BTC

          Anonymous tokens like Zcash (not the coinjoin / vulnerable ones like dash) solve this problem. If you can't trace where the coins have been, then they're all worth the same. 1ZEC == 1ZEC in the same way that 1AUD == 1AUD.

          IMHO, this is the only thing which can harm bitcoin. Scalability, etc can be worked out.

        • gringo on 08/11/2017 - 16:03

          @idonotknowwhy:

          If someone has a bunch of gold in their house without any proof of how they got it, it's probably not safe from law enforcement.

          If you bought a bunch of gold from bikies who gave no proof of where it came from, likewise.

          Same is true with crypto.

        • idonotknowwhy on 08/11/2017 - 16:15

          @gringo: Go to your wallet and pull out the largest note you have. Do you the last 10 wallets it's been in? The last 10 shops it was spent at?

          If I have a lot of $100 notes under my mattress from a big win at crown, law enforcement wouldn't give a crap. Same would be true for a lot of anonymous zcash sitting in my wallet. Once Zcash disable legacy t_transactions (traceable), it will all be anonymous by it's nature.

        • gringo on 08/11/2017 - 16:20

          @idonotknowwhy:

          That's fine with cash because it is guaranteed by the government to be good for all debts, public and private. However cash is dying anyway and should be almost gone in a few years.

          Not saying laundering doesn't occur - but crypto will either become less anonymous than cash is now or will be targeted/outlawed. Even gold was outlawed effectively in the 30s.. doesn't require any technology to do it.

  • Lancerx on 08/11/2017 - 11:46

    Why I should choose you over cashreward?

    • AssociatedBitcoinRewards @ BitcoinRewards on 08/11/2017 - 14:54
      +3

      Good question - we offer different rewards, Cash vs Bitcoin… so depends what suit your needs and use case.

      • idonotknowwhy on 09/11/2017 - 10:00
        +1

        The answer is more likely to be "We will have different vendors".
        If I'm buying from Ebay and you don't have it, I'll use cashrewards. If I'm buying from something like VinylDestination and you have it but cashrewards doesn't, I'll use your site.

  • axlfan on 08/11/2017 - 13:15

    I dont have bitcoin but read that securing bitcoin is the biggest challenge as hackers get into your "wallet". How will you ensure that these are secure?

    • AssociatedBitcoinRewards @ BitcoinRewards on 08/11/2017 - 14:50

      Hi axlcalvin, bitcoinrewards.com.au will not supply you with a digital wallet, you need to enter the public address (similar to an account number) of your existing digital wallet in the user dashboard. This is where we will make payments to. We'll provide resources and share education on how to set up a digital wallet if you don't have one and how to stay safe with bitcoin, however every user is responsible for their own security (similar to internet security).

    • sghetti on 08/11/2017 - 14:50
      +1

      Technically not true. If you own a bitcoin wallet you need to keep your private key safe (a long string and letters and numbers).

      Leaving it in public view, in cloud storage or in email accounts can leave you open to compromise. Using a web wallet to access the address on the blockchain can also leave you open to phishing if you go to the wrong/fraudulent website and input your private key.

      As long as you play it right, only access the wallet from legitimate wallets then you are fine.

    • sghetti on 08/11/2017 - 14:52

      For fraudsters to gain access to a wallet by brute force, or to create a fake bitcoin, would require billions of dollars in computing power. Simply not feasible.

  • ipiok on 08/11/2017 - 15:07
    +3

    I thought these types of posts where generally regarding as spam??.. this isn't ozSEO

  • JUSTINO on 08/11/2017 - 16:10

    What is bitcoin? Is it just coins?

    • [Deactivated] on 08/11/2017 - 16:37

      See the very first post in this thread, and read reply to it.

      • JUSTINO on 08/11/2017 - 17:48

        Ok thanks :)

  • Rukiata on 08/11/2017 - 18:25
    -2

    I dont even know what bitcoin is. But I would rather real cash than this weird stuff. RIP

    • idonotknowwhy on 09/11/2017 - 10:01

      I dont even know what bitcoin is. But I would rather real cash than this weird stuff.

      So you can use this site, and then use livingroomofsatoshi to withdraw it directly into AUD to your bank account.
      RIP

  • ninetyNineCents on 08/11/2017 - 20:04

    are peoples credit for purchases held in AUD or bitcoin at moment of purchase ?

  • quirki on 08/11/2017 - 20:28

    What if tomorrow cashrewards introduces a ‘withdraw your balance in bitcoin’ function using the AUDBTC spot?

    • AssociatedBitcoinRewards @ BitcoinRewards on 08/11/2017 - 23:52
      +1

      I'd high five them!

    • idonotknowwhy on 09/11/2017 - 09:58

      I'd regret that I just withdrew $150 :(

  • OzBestDeal on 08/11/2017 - 21:44

    Bitcoin….
    I want Bitnote

  • Your Friend on 09/11/2017 - 11:43
    +3

    learn to use the reply button, this was painful to read

    • AssociatedBitcoinRewards @ BitcoinRewards on 09/11/2017 - 13:18

      Good call. I'll take that on the chin.

  • AssociatedBitcoinRewards @ BitcoinRewards on 09/11/2017 - 13:31

    Quick update.

    My main focus right now is on continued development of the site, service and partners - I really had no idea that this introduction post would be so controversial and have a strong continued flow of comments (positive and not so positive) - wow!

    I'll do my best to pop in once or twice a day to give the trolls a pat on head and answer any genuine questions from interested parties.

    Regardless if you're for or against - thanks for your interest.

    • hell0 on 09/11/2017 - 16:12

      I think this is just another rip-off of my idea that I pitched at a recent Sydney start-up… I pitched a rewards site called BokChoyRewards where users receive bok-choys for purchases. The advantage I had was that users could save all their virtual bok-choys which will lock in the price based on bok-choy value instead of a monetary value. With boy-choys going up and down by almost double week-to-week, this is a double saving for many as you can redeem your bok-choys when the market prices are high or even sell your unwanted bok-choys on our marketplace.

      In any case, I didn't get any funding but obviously variations of my idea have spread amongst the IT community and have been copied.

    • ozhamada on 09/11/2017 - 23:21
      +1

      I'm happy to see you handling the feedback - you've done it in a way that shows you are genuine to make a working concept that is very credible. I'll sit back for now and wait to see how this develops. In my case most of my cashrewards.com.au comes from booking discount accommodation websites for work travel so I'd be happy to see it earn in Bitcoin as it is all sweet however I score it.

  • [Deactivated] on 09/11/2017 - 17:15
    +1

    I really had no idea that this introduction post would be so controversial

    Ignorance might be bliss, but it also has teeth.

    • AssociatedBitcoinRewards @ BitcoinRewards on 09/11/2017 - 20:21

      Ignorance might be bliss, but it also has teeth.

      "A lot of times, people don't know what they want until you show it to them." - SJ :)

      • [Deactivated] on 09/11/2017 - 23:24

        An attitude of superiority manifested in an overbearing manner and in presumptuous claims or assumptions is commonly known as arrogance.

  • PropertyPig on 09/11/2017 - 20:03

    Not sure if this site is a scam or not, but I would recommend anyone who wants to invest into cryptocurrency to first do your own research. There are HEAPS of scams out there. Its a total wild west, little to no regulations, very volatile, and if you are risk averse, its not the investment for you. Two well known Australian exchanges (which i use) are btcmarkets.net and coinspot.com.au. Higher fees, but worth it. If you are new, I would advise just investing in bitcoin first. There are other coins, but research their teams, their roadmaps, their marketcap, their fluctuations, their community, and read their whitepaper. When I started, I tested the waters with buying $100 worth of bitcoin. A big misconception is that you need to buy a whole bitcoin. I started with 0.01802349 of a bitcoin. Now that small amount is worth a lot more (wish i had invested more). Again, its very very very volatile, prices can fluctuate by $1000 up or down everyday. My advice, is buy what you can afford to lose, put it in a wallet (paper online wallet, mobile wallet, hardware wallet) and forget about it for at least a year.

    • [Deactivated] on 09/11/2017 - 23:31

      not sure if this site is a scam or not

      A few hints: check the list of shops / retailers / organizations, etc, participating in the scheme. Check depth, quality and overall professionalism of https://www.bitcoinrewards.com.au Compare with a few school projects. Draw your own conclusion.

  • GregMonarch on 02/12/2017 - 05:18

    Received your two emails. One to validate, the other to enter a password. The second one doesn't work. I clicked email link, page asked for new password, entered one, and it takes me back to the same page. If I try to login it doesn't say what to enter in the first field. So I tried email address. Nope, doesn't work. Only other option is to sign up… but aren't I already signed up?

    Also, why is the site showing .com. when your post here shows .com.au ?

    • AssociatedBitcoinRewards @ BitcoinRewards on 03/12/2017 - 19:32

      Hi Greg.

      The .com was owned by another entity - I was fortunate enough to pick it up after the announcement of the .com.au. The .com.au now points to .com.

      My apology regarding the trouble with the email sign in. Try and validate the second email via notebook or desktop. If that doesn't work send me an email to [email protected] and I'll get a resolution for you as soon as possible.

      • GregMonarch on 04/12/2017 - 14:17
        +1

        Thanks. Working now.

Login or Join to leave a comment
Login Join