Did Truefans just majorly advance Podcasting 2.0?
Throw some money in your Apple wallet, and easily send a micropayment to that show you love.
Take a look at what Sam Sethi and Truefans are up to.
One of the exciting innovations of Podcasting 2.0 is the ability to accept messages and payments from your audience as they listen (I stole a sentence from James Cridland here.)
In a nutshell, if you like Daily Comedy News, listen on TrueFans. Simplifying, you can listen to Saturday’s 11 minute episode and by doing so you’d send me 280 SATS. Here’s where it gets confusing.
What’s a SAT????? It’s a Satoshi.
What’s a Satoshi??????????? A Satoshi is the smallest unit of the Bitcoin cryptocurrency. It represents one-hundred-millionths of one Bitcoin, which can also be expressed as 0.00000001 BTC
OK now you’re scared. Crypto Bros. Bitcoin. Confusing. I get it. This is where Sam Sethi has advanced things. Forget about SATs. Let me talk to you in terms of dollars. This morning, Sam posted on LinkedIn:
Now it’s less scary. Top off the wallet and let the system do the rest.
OK John. but how much am I paying per show?
First of all, remember, you’re choosing to support the creator. You don’t have to pay. Think subway busker. You can stand there and watch the performer, or you can choose to throw a buck in that guitar case. Kinda like that, but with a podcast, no guitar case, and fractions of dollars.
How much is a SAT? As I write this at 2:05pm EDT on Saturday Mach 30th, the current price of 1 Satoshi in US Dollar is 0.000169 USD.
Today’s Daily Comedy News COULD run you 280 Sats. $ 0.04732.
Is it worth a nickel to your favorite show? It’s a nice way to support a show, and it won’t break your bank. If enough people do it, it could turn into decent money for the creator. That’s the future here, and today Truefans got this to be a lot less scary. Top of your wallet similar to how you do on your favorite coffee app.
Your $10 will get you around 59000 SATs today. That will support the next 200 or so episodes of Daily Comedy News, or however you want to divvy up 59,000 SATs across your favorite shows. 200 Days from today would be October 16th. This won’t break your bank.
Sam also has some other really really exciting ideas for this, and since I can’t remember what was said “on air” or off, I’ll just suggest you keep an eye on his LinkedIn. But some of the stuff is REALLY cool, smart and game changing in a way that will help the entire podcasting ecosystem.
Oh, and if .04732 doesn’t seem like the right amount? Change the number! In this example below (look below the Play button) I changed it from 20 sats to 1. Or you could make it a different number. I have my default as a listener set to 20 sats per minute ($0.014), and now that Sam/Truefans has made it easy to reload, I’m more than happy to donate to shows I dig.
(Sam I hope I got everything right here.)
If you’d like a masters level course in Podcasting 2.0, listen to Adam Curry and Dave Jones Podcasting 2.0 podcast. On your first listen as a newbie you might be totally confused but after a few weeks you’ll get it as Adam explains it all very well.
Perfectly explained John thank you. I’ll be on Podcasting 2.0 on Friday 19th with Dave and Adam to talk more about this.