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- The Value 4 Value streaming payments system enables listeners to send
Bitcoin micropayments to podcasters as they listen, in real-time
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- Just get me started! (You can always come back here to learn more)
- Find your podcast on PodcastIndex.org and hit the lightning bolt on the showpage to get started. After you verify your podcast feed, you will be prompted to choose a node provider.
- Now tell your listeners to get a Podcasting 2.0 podcast app and start streaming value! It's easy to remember: newpodcastapps.com
- How Does It Work?
- Listeners using Podcasting 2.0 compatible apps can load small amounts of Bitcoin (measured in satoshis) into a 'wallet' that is connected to their podcast app. There are several apps available each with their own unique process of helping listeners with the initial setup.
- The listener determines the amount of satoshis they want to transmit to the podcaster per minute. Typical settings are between 10 and 100 sats per minute. They can also 'Boost' while listening, sending a predetermined larger amount to show appreciation for that exact moment in the podcast (a funny moment, or valuable information)
- Similar to needing a server to 'transmit' your mp3 to the listener's 'receiver', or podcast app, these micropayments require a transmitter and a receiver.
- The listener uses a Podcasting 2.0 compatible app to transmit these micropayments (satoshis) to the podcaster, who therefore needs a 'lightning node' to receive them.
- As the system is de-centralized with no corporations or middlemen, podcasters need a node that is online 24/7 to receive payments. This also means no one can demonetize or interrupt these payments. As a Value 4 Value enabled podcaster, a Lightning Node is needed to get started. Freedom always requires a bit more effort ;-).
- I have a Lightning Node and I know what I'm doing!
- You're good to go! All you need is the NodeID of your keysend enabled lightning node (keysend needs to be enabled) and a podcast.
- Find your podcast on PodcastIndex.org and hit the lightning bolt on the showpage to get started. After you verify your podcast feed, you will be prompted for a NodeID
- Now tell your listeners to get a Podcasting 2.0 podcast app and start streaming value! It's easy to remember: newpodcastapps.com
- I know what I'm doing but I DON'T have a Lightning Node
- Good news! There are already 4 providers of nodes you can choose from by following the same instructions noted above.
- Find your podcast on PodcastIndex.org and hit the lightning bolt on the showpage to get started. After you verify your podcast feed, you will be prompted to choose a node provider.
- Now tell your listeners to get a Podcasting 2.0 podcast app and start streaming value! It's easy to remember: newpodcastapps.com
- Why Does It Work?
- While it may appear counterintuitive to traditional pay to play content models, the opt-in nature of the Value 4 Value streaming payments model has proven that play to pay is a fast, flexible and secure way for listeners to show their appreciation of the value they receive from the podcast with an immediate return of value.
- Listeners have been supporting podcasts with donations for over a decade. PayPal and Patreon are very successful examples. Donations are usually solicited in 'tiers'.
- The Value 4 Value model leaves the 'valuation' process to the listener. This is a key difference. The listener determines how much value will be sent (per minute) and when payments start and stop. Set the amount, and start playing the podcast to start streaming sats. Stop playing the podcast and the payments stop.
- Here's the magical part; while most listeners will use a default amount or perhaps lower, there is always a percentage of listeners who will stream much more and will use the 'Boost' function to send single shot payments that are a multiple of the per minute amount. Bottom line, people value content at wildly varying amounts, you too will be surprised when you see them coming into your wallet.
- However, the system only works if you ask your listeners to use a compatible podcast app. You must remind listeners to 'Boost' when they like something they hear. Send them to newpodcastapps.com
- De-centralized Digital Royalties
- Soon podcasters will be able to 'edit' their value block to add 'splits'.
- By adding a split, payments from the listeners can be split into multiple payments directly to the nodes specified by the podcaster.
- Each of these people will need their own Lightning Node to receive their spilt. Note that for each payment made, an automatic split is made by the podcast app with 1% going to Podcastindex and a similar small percentage going to the app developer the podcast is being played on. This keeps the entire ecosystem in the value flow and incentivizes everyone to continue development for personal and collective gain
- Can I Use This for Music or Video?
- Absolutely! There are already people using Value 4 Value and compatible apps to receive streaming payments for their Audiobooks, Music and Video
- The De-centralized Digital Royalties are an exciting way to publish a collective creative work with all participants benefitting at pre-arranged shares in real-time. A next generation leap over the existing creative royalty industries.
- What's Next?
- Development of Vale 4 Value and all the exciting features of Podcasting 2.0 is being done as an Open Source project at podcastindex.org. Much of the discussions take place on mastodon at podcastindex.social
- Input from anyone is welcome and appreciated. Developers of podcast apps and experience as well as lightning network and wallet developers will find a fun home here!
- These apps already support Value 4 Value
- Podcaster Lightning Nodes with detailed statistics are coming online so podcasters can see payment details as well as timelines that show where listeners 'Boosted' extra sats.
