Bitcoin Cash Tip Bot ‘Tippr’ Distributes Thousands of Micropayments

A new Bitcoin Cash (BCH) tip bot that lets anyone send small microtransactions using BCH called ‘Tippr’ is gaining a lot of traction on the web these days.

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A few years ago many people used to send BTC micropayments and tips to each other on forums and social media apps like Twitter. These days you can’t do that anymore because bitcoin core’s average fees are too high to send small increments under 15 dollars, and because companies like Changetip stopped offering tip services. Since the inception of bitcoin cash this past August, BCH users have been able to send small increments because fees are 2 cents or less per transaction.

The BCH Tippr bot is available on Reddit and Twitter. At the moment a lot of users are using the program to tip people. Tippr users on Reddit simply call “/u/tippr” and enter the number of funds they want to send and specify another user. The same thing can be done on Twitter by tagging the bot and the person on the receiving end and typing “$0.50 @tipprbot.” Tippr has been used on Twitter quite a lot since it started last September and you can observe this by scrolling through the bot’s account.

“I’m a bitcoin cash tip-bot for Reddit and Twitter, allowing you to send bitcoin cash to other users easily,” explains Tippr’s introduction.

Aerospace Engineer Uses Bitcoin Cash to Buy $415,000 Home in Seattle

The mainstream adoption of cryptocurrency is continuing on pace in all different business sectors and in many economies across the world. The latest example of this featured in the press is the recent acquisition of a home using bitcoin cash.

The Bitcoin Cash House

A young aerospace design engineer has used bitcoin cash to buy a three-bedroom $415,000 house in Tukwila, a suburb of Seattle, Washington. The 23 year old investor, Cary Kuo, had to endure a lot of bureaucracy but was eventually able to use his cryptocurrency holdings to pay for a ten percent down-payment on the property and get a mortgage for the rest.

This is assumed to be the first time ever someone has used any cryptocurrency to acquire real estate in the regional market, according to the Seattle Times. It can also be a precedent for someone securing a traditional mortgage in the US nationally for such a transaction, as most publicized real estate for bitcoin deals have so far involved paying the sum outright without the added difficulties of getting an approval for a loan.

Fannie Mae Demands USD

The previous owners of the house, as well as the real estate agents involved, were skeptical when they first heard about the buyer using bitcoin cash or other cryptocurrencies to pay for the house. But, after doing some research and due diligence, everyone came around to accept the idea. They even found a residential loan financing company, Guild Mortgage, which was willing to back the deal.

Dealing with the public sector was a different matter however. When the loan company contacted government-sponsored Fannie Mae (Federal National Mortgage Association) to ask if cryptocurrency can be used as an asset for securing a mortgage, the agency had two terms. Kuo had to produce a full paper trail documenting how he acquired the cryptocurrency and convert the down payment sum into fiat to transfer to the seller. Local taxes for the sale also had to be paid with USD.

Oleg Tkach, the Guild Mortgage manager who helped secure the loan for Kuo, commented: “Unless something changes with cryptocurrency, I believe it’s going to become more common.”

Reward-based Social Media Platform Yours Switches from Litecoin to Bitcoin Cash

We spent over a year developing a trustless payment channel network similar to the Lightning Network except it’s not dependent on Segwit. We’ve realized that we can dramatically reduce our code complexity by going on-chain with bitcoin cash.