While the fever of decentralized finance has barely subsided and around NFT is still under way on Crypto-Twitter, the monetization of web content related to Bitcoin and the crypto ecosystem is still largely constrained by disinterest or lack of speculative opportunity. Whatever the reason, it is sometimes frustrating to be content with rare existing models, sometimes still too centralized and mediated, such as the Basic Attention Token (BAT). Functional alternatives do exist, although they are still little known. This is the case of the SatoshisStream solution, which, by relying on the power of the Bitcoin Lightning Network, enables a completely decentralized model. A model that allows everyone to create their own podcast and monetize their satoshi content!
The paradox of centralized monetization of crypto content
It’s hard to deny that the traditional ad-driven model is still hard to get around today.
However, what I personally blame on ‘cryptocurrency’ monetization projects is the lack of interaction it can generate from consumers.… Distributing a portion of the airdrop does not seem satisfactory to me.
In fact, the problem is a bit bigger. Is it satisfactory to include reflections on monetizing content related to decentralization? in another captive system with permission? As a content creator, you can be locked out of the system at any time. Is there a monetization system that does not depend on a particular crypto project? How can I maintain my favorite Bitcoin Universe podcast with no choice but to go through one system or another? permissible ?
The answer is clearly not easy, and quite by accident during my Twitter wanderings, I found a model for podcast monetization: SatoshisStream…
SatoshisStream Opening
SatoshisStream offers services and guides to monetize podcasts in bitcoin. However, this is not the most interesting thing. Indeed, scratching the varnish, we discover the project. “Podcasting 2.0“Which aims to improve and open up the podcast format to provide industry players with technological tools that will transform the experience of their platforms. In order not to distort the purpose of the project, here is Verbatim Briefly the ambitions of the project:
“I think we need to be 100% focused on improving the experience of podcasting in an open and standardized way that allows every player to innovate faster and better than a business could on its own. This is our best chance to prevent the company from monopoly on podcasting. “
Tom Rossi - Co-founder of Buzzsprout (source)
For many curious and experts, you will find at Github project all the details on the development of the standard.
It is this format that offers add monetization component… Once again, I suggest that the most daring go to the documentation, which introduces and describes the operation, as well as the integration of monetization into any podcast by adding a simple block to the RSS feed.
For the sake of brevity, I will summarize the documentation on two points.
Monetization in the form of a donation can be achieved by two mechanisms working in synergy. The first one allows donations manually and the second one allows you to do donations every minute while listening to a podcast.
In this article, I will focus on setting up monetization through Bitcoin Lightning Network.
However, Podcasting 2.0 is also flexible enough to support other cryptocurrencies. Developer friends, it’s up to you how to add your favorite crypto nugget.
There will be three ways for podcast creators to integrate this monetization.
- The first is to use a “podcasting 2.0” compatible platform such as sprout (list of compatible applications) and integrate xml tags “value”.
- The second is based on the site’s podcast index PodcastIndex
- the latter uses encrypted and networked messaging peers. sphinx.cat…
Together we will see the second solution, which is much simpler and more flexible to use. Regardless, I will also share the third solution that most bitcoiners among you will be satisfied with. You will need the best Lightning network node. Owners Raspberry PI 4 based on OS Umbrel will love it!
SatoshisStream step by step
For this tutorial, I created a podcast on the platform anchor.fr.
You must first make sure that their email address is published in your podcast’s RSS feed (a prerequisite to prove you are the author).
If this is a new podcast, after you have verified that your RSS feed is working, you may need to add it manually using the site API. PodcastIndex… Nothing fancy, I assure you, you just need to open the following URL in your favorite web browser, replacing my own RSS feed (in bold) with yours.
https://api.podcastindex.org/api/1.0/add/byfeedurl?url=https://anchor.fm/s/572dfbe8/podcast/rss& cute
Here’s my new podcast indexed by the site.
To customize monetizationclick on the lightning bolt icon, which will redirect you to the second site. PodcasterWallet… It is a companion to PodcastIndex that will allow you to add the xml “value” tag to your feed without breaking your fingers or your head.
The association procedure goes through verification of the email address that should be the same as your podcast… This same procedure will create an account that will allow you to make changes.
Interface PodcasterWallet prompts you with several options, click Add Custom Site.
If you’re far enough away from the bitcoin rabbit hole, you probably already have your own bitcoin lightning network node.
Umbrella ideal candidate, but Nodl did not stand aside. You can also install your own, just know that you will need to activate the option sending the key… If you want to use your own node, you just need to add its public key to get directly and without intermediaries. precious satoshi of your generous donors.
Don’t panic if you don’t have a Lightning network node, SatoshisStream provides you with a donation storage service. Just add the satoshi.stream service address 03c457fafbc8b91b462ef0b8f61d4fd96577a4b58c18b50e59621fd0f41a8ae1a4.
To collect donations, they will need to be requested via the @satoshisstreambot telegram robot.
First, make sure the Telegram robot is detecting your podcast. Run command /receipt followed by your rss feed link.
To link your Telegram account to the podcast, run the command /require followed by your podcast’s RSS link.
You will receive a code to add to the latest release. After adding the code, wait a few minutes and re-enter the / command.requirewhich is always followed by your podcast’s RSS link.
Remove the code you just added. You won’t need it anymore. To view donations, enter the / list command.
You will obviously need a Lightning Network wallet to receive payment. I recommend you Phoenix on Android and Breeze on iOS / Android.
Run command /withdraw to display the refundable amount. Fees are in line with Satoshis.Stream (3%) and podcastindex (1%) childcare costs.
In your Lightning wallet, create an invoice (invoice) of the refundable amount (in my case 90 satoshi).
Copy invoice
Then pass it directly to the robot without further thought.
So, using the magic of the lightning net, you will receive your donations in seconds.
As for your audience that would like to bring you support and wealth, you will have to go through the excellent Lightning Breez wallet, which was recently equipped with a podcast player feature.
Go to the podcasts section of the wallet to find all podcasts that have been monetized with PodcastIndex… You will see that the Breeze wallet reader has two donation options.
For the lucky ones with lightning fast messaging Sphynx Cat, just create a group dedicated to your podcast with the main benefit of not having to PodcasterWallet since the monetization will go directly to the node of the owner of the Sphinx group. In addition, the Sphinx messaging system will allow your listeners comment on your episodes through the lightning network.
To create a group, it couldn’t be easier, just click the “+ tribe” button.
Set up a group and add your podcast’s RSS feed
…
On the listener side, all you have to do is join the Sphinx group and start the streak. The pressurization function, on the other hand, allows 100 satoshi to be injected. On the other hand, there is no function to enable donation in terms of listening time.
The monetization function of Podcasting 2.0, despite its youth, is very promising. From the listener’s perspective, using a Breez wallet is encouraged as this Lightning wallet is easy to use.
For podcast creators, you can now easily bypass the barrier to entry presented by the Lightning Network. - and without major compromises - thanks to the SatoshisStream service. It’s perfect to experiment with podcast monetization before embarking on a lightning-fast online adventure with Umbrel.
