In the era of social networks where people share freely everything from the content of their dinner plates to the mood they are in for the world to see instantly, dotcom/mobile entrepreneur and Bitcoin angel investor Alistair Milne has spotted a wide open gap in the market and plans to bring it to the mainstream.
The site Sato.sh was created as a direct result of the growing success and flexibility of Bitcoin. The digital currency has enabled people to reward anyone with any amount, anywhere around the globe and Sato which the owners prefer to call it is ready to trial this concept to the world.
Sato rewards anyone posting content, proportionally to its popularity.
Initially, fractions of Bitcoin will be awarded based on the positive feedback from other users. Later on, additional payments will be paid proportional to the traffic generated by the owner of content posted.
Their aim is to convert advertising dollars into bitcoins and distribute them to all users that contribute to their success. They hope Sato.sh will be the easiest way for someone to earn bitcoins without requiring any investment or access to banking.
To get the ball rolling with a minimum viable product, the site will be paying 4 ‘bits’ (0.000004 BTC) for every upvote received by a post on their site.
They are hoping that these will quickly add up, with 1000 upvotes being worth $1.1. The reward per vote will be subject to change due to Bitcoin’s price volatility.
Assuming they get traction early on, which I have no doubt will happen, they will fundraise so that the founders can expand the team and develop mobile applications and new features for the site quickly.
The plan is to then play with a few ideas they have to allow people to spend bitcoin to promote sites/services/news on Sato.sh and perhaps integrate more traditional advertising to earn us $/£/€ which we will use to buy bitcoin.
Once this income exceeds what we are paying out for up votes, we will be able to distribute additional bitcoin ‘dividends’ to users who have posted content which has generated revenue.
Essentially this will be a hybrid of business and co-op models, rewarding users in proportion to their contribution to the sites commercial success.
In regards to Sato.sh policy on censorship,they believe in freedom of speech and expression, so long as it does not infringe upon the fundamental rights of others. They will only remove content deemed in breach of UK law (either by our own management or the UK courts / law enforcement agencies).
As a true Bitcoin evangalist he hopes that Sato.sh will help spread adoption to people and places who find acquiring it is a challenge.
Sato.sh is all about accelerating the network effect of Bitcoin globally, creating a community and building a Web site that helps promote great content.
Alongside Alistair are an experienced CTO and several experienced and well connected shareholder/investors.
This guy has had a very successful past and hasn’t made too many wrong moves if any, so you can feel safe that if there is a demand in the market for this service which there clearly is, it will become very popular very quickly.
If you’re a content sharer please sign up to the beta and start earning something, because Sato.sh means we don’t have to do it for free anymore!