One of the advantages of Bitcoin is in micropayments. It’s very convenient to send small amount of funds to others at nearly zero cost. So much so that the funds that you are sending itself could be near to zero. The same couldn’t be done with other electronic payment systems, say; Paypal. Because the transaction fees for PayPal would be too high to run a profitable micropayment system.
Case Study: The Cointelegraph
The Cointelegraph has done an interesting reward system for its website. They have taken advantage of Bitcoin’s superiority in micropayments, combined it with Twitter’s capability to reach wider audience and came up with a reward system for its users to share their content on Twitter and get paid *tiny* amounts for each retweets.
With today’s price of Bitcoin, TC is basically paying you $0.000002 for every retweet your friends retweet your tweet. That means you tweet TC’s content on your twitter account, and if someone retweets that tweet of yours, you will get paid $0.000002.
You will probably won’t make any money with TC’s reward system. But the idea here is to highlight the creativity of TC in setting up such a reward system by leveraging the said advantages of Bitcoin and Twitter. And also to highlight the superiority of Bitcoin and Blockchain in general in mircopayments field.
Similar reward systems could be applied in different segments of the web; e-Commerce sites, News sites, Advertising Networks etc.