Here’s how the company’s product works. In order to view a piece of Internet content, you have to first send out a tweet about it. Before you start complaining, just think – if we’d all gotten into the habit of courtesy-clicking at least one ad on pages featuring Web content, the print media would still be thriving. From Deamicis’ piece:
BitWall users have four choices for making the “payment.” They can tweet the story out, pay in bitcoins for a full day of access to the site, pay in bitcoins just for that one article, or choose to watch an ad.
The founder, Nic Meliones, used the concept to win the 2013 Bitcoin Hackathon and get accepted to Adam Draper’s accelerator Boost.vc. Now, months after finishing the program Meliones has assembled his team and they’re starting to pitch publications on the product.
Thedishdaily.com is the first site to make use of BitWall, as of last Friday. As the San Francisco startup touts simply on its website, a simple line of code can have publishers quickly accepting transaction payments as low as one cent.
In the PandoDaily comments, Seattle entrepreneur Drew Meyers has made this astute observation: ‘Pay per tweet is just going to encourage more spam accounts. People would just make fake accounts, that have no followers, and fire away into the wild blue yonder that no one sees.’