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Cent post

Posted on 14th Feb 2019


It seems to me that the possibility of sending fractions of any coin is the appeal of cryptos.

There has been a surge of "Web 2.0" platforms offering the ability to tip/reward/earn cryptocurrencies, as they perceive this as the most immediate way of leveraging the new technology.

Is tipping really needed, or is it just a marketing gimmick to retain users? It seems to me that the possibility of sending fractions of any coin is the appeal of cryptos. For better or worse, the ability to rationalise the act of tipping as "spending money" is somehow dampened when it takes place in the digital realm.

Cent social network dapp

Cent - Social network on Ethereum Blockchain

However, in some countries where cryptos are yet to be regulated, users could somehow be walking a fine line. Is tipping a payment for an implicit service? Is it a one-off donation? Should tipping attract taxes? If so, from which end?

As much as I like to tip articles, podcasts, publications and artworks that I appreciate, I cannot help but anticipate that, someday, the regulators will find a way to dip their hands into this very buzzing and informal sector...for better or worse!