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Sweatcoin

  • 23-01-2018 9:38am
    #1
    OREGATO
    Registered Users Posts: 898 ✭✭✭


    First time posting here but I've been lurking for a good while. Not sure if this is appropriate so mods, feel free to delete if necessary.

    I came across Sweatcoin last night and see it hasn't been mentioned here. It's an interesting concept that awards users SWT coins for movement outside. Tracks movement via GPS and steps taken via your phone.

    Seems to be out a few months. For the coins, you are able to exchange them for different health and fitness devices from the store or trade them with other users.

    It's available on both iOS and Android and is one of the top 10 iOS apps in the app store.

    As with forum rules on referral links, my referral link is in the referral thread here: https://www.boards.ie/vbulletin/showpost.php?p=105926120&postcount=51

    However, if you don't want to use it, here is a regular link to their website: https://sweatco.in/


Comments

  • #2
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    A coin that gets minted every time somebody takes a step - where's the incentive for anybody to buy what you've earned by walking?

    What's the value behind it for buyers beyond somebody else wanting your coins for some unknown reason?


  • #3
    Kenny Logins
    Registered Users Posts: 9,061 ✭✭✭Kenny Logins


    Wake me for Fartcoin.


  • #4
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    Wakey wakey
    FART runs on the WAVES blockchain, but also incorporates the revolutionary new, Proof-of-Fart Distribution Mechanism™, or PoFDM, allowing for smoother economical flow that is more egalitarian and meritocratic than traditional crypto-currency.

    :pac:


  • #5
    Kenny Logins
    Registered Users Posts: 9,061 ✭✭✭Kenny Logins


    grindle wrote: »
    Wakey wakey



    :pac:

    Jesus. I actually wouldn't be surprised. :D


  • #6
    smacl
    Moderators, Society & Culture Moderators Posts: 15,705 Mod ✭✭✭✭smacl


    Kenny Logins wrote: »
    Wake me for Fartcoin.

    That's one "air-drop" I'll be keeping well clear off ;)


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  • #7
    Chancer3001
    Registered Users Posts: 5,480 ✭✭✭Chancer3001


    This sounds like the dumbest idea I've ever heard for a coin.

    You can spend your coin on stuff ?

    So I go to my gym and say hey I walked 10000 steps yesterday. Gimme some free stuff....

    Yeahhhhhhhhhh

    BUT THEN AGAIN

    If you talk about Bitcoin like that. Oh hey here's some code I mined on my computer over the last few weeks. Gimme 10 grand for it...

    That also sounds mental


  • #8
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    Chancer3001 wrote: »

    BUT THEN AGAIN

    If you talk about Bitcoin like that. Oh hey here's some code I mined on my computer over the last few weeks. Gimme 10 grand for it...

    That also sounds mental

    ...implying that BTC isn't the largest bug bounty in the world.

    There's literally nothing backing up Sweatcoin (yet?) and no economic incentive for it to exist.

    BTC for all of it's terrible faults is extremely secure and has the brightest minds poring over every commit.


  • #9
    stooge
    Registered Users Posts: 1,395 ✭✭✭stooge


    OREGATO wrote: »
    First time posting here but I've been lurking for a good while. Not sure if this is appropriate so mods, feel free to delete if necessary.

    I came across Sweatcoin last night and see it hasn't been mentioned here. It's an interesting concept that awards users SWT coins for movement outside. Tracks movement via GPS and steps taken via your phone.

    Seems to be out a few months. For the coins, you are able to exchange them for different health and fitness devices from the store or trade them with other users.

    It's available on both iOS and Android and is one of the top 10 iOS apps in the app store.

    As with forum rules on referral links, my referral link is in the referral thread here: https://www.boards.ie/vbulletin/showpost.php?p=105926120&postcount=51

    However, if you don't want to use it, here is a regular link to their website: https://sweatco.in/


    sounds like that episode of black mirror

    https://en.wikipedia.org/wiki/Fifteen_Million_Merits


  • #10
    chasingthesun
    Registered Users Posts: 10 ✭chasingthesun


    Lol, lads. It is not cryptocurrency.
    I just can by this thread here.

    I have been using it for a while myself. I don't know the thread starter.

    The app has stupid name which makes people think it is something like bitcoin.

    However it is just a fitness app.

    You walk. You get awarded coins every so and ao many steps and for these coins you can redeem rewards.
    The app doesn't cost anything and there is no in app purchases.

    But if you redeem rewards, you got to pay postage on them.
    The only thing I redeemed so far was a pair of trainers.
    Good quality nike trainers, not some chinese knockoffs.
    The app is real, but it takes a while to save up coins ..
    Then again, I walk anyway all the time and the app works on background so it doesn't disturb what I am doing with my phone.

    Most irish prizes are health and fitness ones and even though they say prizes change often, I haven't seen them change for a while.
    Next thing I plan to redeem is a blood pressure monitor for home... I always want one, but never want to spend on buying one, so might as well take that next.

    How do they get money? Whats in it for them?
    Pure advertising as always with this kind of thing. They get advertising money from companies who have their stuff featured there as prizes.
    Unfortunately, irish companies haven't jumped on board as much as in other countries... my friend in uk has redeemed tv and phone.... and in USA there are lots of $50 giftcards for all sorts of shops....

    Other than prizes not changing often enoughi can't really fault an app... I made a review of iton my youtube channel at sone point as well, but I already typed everything I said about it here too.....


  • #11
    chasingthesun
    Registered Users Posts: 10 ✭chasingthesun


    grindle wrote: »
    ...implying that BTC isn't the largest bug bounty in the world.

    There's literally nothing backing up Sweatcoin (yet?) and no economic incentive for it to exist.

    BTC for all of it's terrible faults is extremely secure and has the brightest minds poring over every commit.

    Lol sweatcoin is not cryptocurrency. It is not something that anyone can buy. They just named their reward points with that silly name. Probably to get publicity.
    Read my longer answer I tell there what this app is.


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  • #12
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    chasingthesun wrote: »
    Lol sweatcoin is not cryptocurrency. It is not something that anyone can buy. They just named their reward points with that silly name. Probably to get publicity.
    Read my longer answer I tell there what this app is.

    I know it's not a crypto... Yet. They've announced their own openly tradable blockchain implementation is in the works.

    People on Reddit/Discord are actually paying money via PP for this crap.


  • #13
    chasingthesun
    Registered Users Posts: 10 ✭chasingthesun


    grindle wrote: »
    I know it's not a crypto... Yet. They've announced their own openly tradable blockchain implementation is in the works.

    People on Reddit/Discord are actually paying money via PP for this crap.

    Ah lol so they have reason behind their madness.
    Ah well, let them pay for it, im happy out with my trainers and other atuff I redeem😂😂😂


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