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Subtipper

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Avatar for dave_gutteridge
Written by   169
6 months ago

Subtipper is a bot on Reddit that pays out Bitcoin Cash to the highest upvoted posts within an individual subreddit on a regular basis. This page is intended as a reference in simple terms for how it works, for people who might have received a tip and are wondering what's going on.

If You Have Absolutely No Idea What's Happening

It's possible that you've come to this page because you got a message saying that you've been given a tip from Subtipper, but you have no idea why or what that is. It seems like someone is offering you money, but you don't know how to claim it.

If you are completely new, first off, don't worry, nothing is being asked of you. You don't have to do anything if you don't want to. If you decide you're not interested, and take no action, then nothing will happen.

However, the amount being offered to you is probably a few dollars (in US currency terms), so that might be an amount you want to claim. If so, then the process is outlined here.

Is This Some Kind Of Scam?

One concern you might have is to wonder why someone would offer you money out of the blue, and that might seem suspicious.

First of all, please note that under no circumstances do you have to pay any amount of money to receive your tip from Subtipper. Never send money to anyone who promises to send you money in return.

You also do not have to provide any identifying information. Subtipper only uses your Reddit user name to send you notifications of when you are being tipped. Never send identifying information to people you don't know.

The reason people set up systems like this is and provide money to support it is because they believe that Bitcoin Cash, the currency you're being tipped with, becomes stronger and more valuable as more people have it and use it. So they are motivated to give out small amounts here and there in order to get more people, like you, exposed to it. In the long run, as the currency grows in popularity, its value and utility increase, which ultimately brings benefits back to the people who donate to this system.

It would be beyond the scope of this page to explain everything about what Bitcoin Cash is, or what a cryptocurrency is. If those are new concepts to you, please research them to your own satisfaction. We suggest starting with this page, or this one, or this one. You can also ask about it on the r/btc group on Reddit.

How to Claim Your Tip

If you have been tipped by Subtipper, you will have received a private message on Reddit with instructions. This private message will come from a Reddit user named u/chaintip, which is a bot that helps make the Subtipper system work.

You reply to the message, and in your response you include a Bitcoin Cash address.

If you do not have a Bitcoin Cash address, or are unclear on what that is, you will have to download a "wallet" app for holding cryptocurrencies, and learn how to create an address for receiving.

It's very simple do, but it's beyond the scope of this article to give step by step instructions. For people who are completely new, we recommend you start out by downloading the Bitcoin.com wallet, and following their instructions for sending and receiving Bitcoin Cash. Later you can switch to any wallet you like.

Once you've sent an address, Subtipper will record it, so if you are ever tipped a second time, you do not have to repeat the process. Tips will always be sent to that address.

If you want to change your receiving address, you can send a new address in a private message to u/chaintip any time. You can learn more about Chaintip and its function from the Chantip website.

How Posts Are Selected

Subtipper is only active in subreddits where it has been set up for use, so you must post in one of those subs to be eligible. Each subreddit where Subtipper is active operates independently of all other subreddits. Each subreddit has a separate Subtipper fund of its own. Donations and payouts in one subreddit do not affect payouts or donations in any other subreddits.

Subtipper takes posts created after its last payout, and orders them from highest voted to lowest voted. It then pays out to the top ten posts on that list.

Payout Amount

When Subtipper is activated to execute a payout, it will pin the value of votes as being 1 US cent per vote, rounded to the nearest Satoshi. The payment will be made in BCH, so, of course, because of volatility, the US dollar value of the tip on any one post may shift up or down before tip values are seen or claimed.

Subtipper won't pay out more than ten posts, and won't pay out more than 1/3rd the value of the available fund.

Payout Timing

The exact payout time for Subtipper is random, so no one, not even the developers, can predict when a payout will happen. However, certain parameters have been set so that, on average, payouts will happen roughly once a week.

There is a cool down period of 3 days once a payout happens, to prevent one payout from happening immediately after another.

Technically, the Subtipper looks at the hash number that is generated with each block on the BCH blockchain. It takes the last three digits, and if those digits are between 000 and 006, inclusive, then a payout is triggered, so long as it's not in the cool down period.

Payout Notification

When Subtipper is activated, it will post a notification to the subreddit, with a list of the posts that have received payments, and how much each post earned in tips.

Subtipper will also comment on each of the posts being tipped. Reddit should alert a poster when their post has a new comment, so this will hopefully alert the poster to the fact that they have a tip to claim. The post comments will include instructions on how to claim the tips.

How Subtipper is Funded

Each subbreddit has its own BCH address that receives donations and from which it pays out tips. Anyone is welcome, and encouraged, to donate at any time. The best way is to simply put the following text in a comment on the notification post when a payout happens:

u/chaintip

This will prompt the Chaintip bot to send you a BCH address. Any BCH you send to that address goes to the fund for that subreddit's Subtipper.

Note that the developers do not take any portion of your donation, and 100% of the tips Subtipper gives out go to the posters. The only fees involved are the standard transaction fees when sending money on the BCH blockchain. Fees on the Bitcoin Cash blockchain are almost always less than a cent, regardless of the size of the amount being sent, making it worth while to claim even very small amounts.

Subtipper is not for profit, and was made purely with the intention to help promote and distribute BCH to new people, and also experiment with finding new and interesting ways to use micropayments to help foster good content online.

Disclaimer

Please note that this is a living document that may change as the specifics of how Subtipper works changes. In order to best further Subtipper's goals of promoting BCH, tipping fairly, and countering any attempts to game the system, Subtipper may be tweaked and refined at the discretion of the developers.

This page was last edited on June 6th, 2021.

Subreddits Where Subtipper is Currently Active

The BCH address attached to each subreddit listed below is where you can send donations to help fund Subtipper for that community.


r/btc

bitcoincash:qqh0ld4vw7z97d7t0q2k5kmfhsmmzc4wtc79yn2etl


Credits

Subtipper was first conceived as a general idea by Dave Gutteridge, and then the heavy lifting of coding it was done by Tibanne, who is also the maker of Chaintip. Initial funding to launch the project was provided by Molecular. The three members confer on Subtipper development via Telegram, and are active on Reddit in the r/btc community. They can be contacted via their Reddit username (u/davegutteridge, u/tibanne, u/moleccc).

If you would like to help with Subtipper, especially with getting it set up in new subreddits, please feel free to get in touch.

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Avatar for dave_gutteridge
Written by   169
6 months ago
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Comments

Awesome!

Thanks for doing this, guys.

Looking forward to the first non-crypto sub joining the fun.

$ 0.00
6 months ago

Maybe we need to make this active on r/Bitcoincash to encourage some more activity there

$ 0.10
3 months ago

We've actually contacted the r/bitcoincash mods about deploying there, and it's in the works. The thing is, Subtipper has only one developer, and he's quite busy, so things take a little time.

$ 0.00
2 months ago

Well, I have received some tips on Reddit but for the longest time I thought they were regular users tipping content that they liked, I think I got tipped from regular users on Reddit but I can't remember if that is the case. Either way, it is good that the BCH community is trying to help out those that post interesting content regardless of social media. I guess the next bot will a Facebook bot.

Setting up my tip wallet on Reddit was easy for me because I do have some experience and I truly understand how wallets work, but it is nice that someone is trying to address those that may need help setting up their wallets.

I would say that your article is interesting and I will try to post more articles on Reddit instead of just links to my articles here at read cash.

$ 0.00
6 months ago