Share the Bitcoin is a personal referrals network designed to work with Bitcoin. Users can create an account on the platform only after having been sent a referral by an existing member. After a paying a membership fee in Bitcoin to that individual, the user is granted a full membership to Share the Bitcoin and can also send out invitations. By spreading the invites to a wide range of individuals in the user's network, the user can earn 90% of the referral payments made by their new members who join the network.
Users will usually first learn of Share the Bitcoin when they receive a reference code from someone they know, or perhaps from a public forum, inviting them to join the Share the Bitcoin network. When they click through to the homepage they can register their own account with the service, based upon a straightforward username and password.
To become a “sharer” on the website, the users need to send a Bitcoin payment to the wallet address of the individual who referred them to the service. The level of the fee is set by the original “sharer” and therefore can be unlimited in scale.
Once the payment has been verified on the blockchain, the new user is granted the right to use the Share the Bitcoin service to send out invites to their own network of friends and family, referring them to join the service, once they have paid the fee determined by the new user.
The service is based upon the idea of sharing knowledge of Bitcoin outward to a wider community, and of each member being able to reach a number of unique individuals who have not yet heard of the Share the Bitcoin service, or of Bitcoin in general. By each member increasing the reach of this message, an increasing number of individuals at each generation will join the service.
If every new member gets two friends to sign up for the service and pay them a Bitcoin fee, while each member only pays one fee for their own membership, then they will be able to profit in Bitcoins from telling their friends about the cryptocurrency and the Share the Bitcoin service.
Profits at all levels of the structure depend on the ability of each member to sign up new individuals into the network, so the service makes no guarantee of a return on investment.
The company was founded in 2014 and is headquartered in Bucharest.
Share the Bitcoin takes a 10% slice of all Bitcoin transactions on the site.
What inspired you to found Share the Bitcoin?
Everyone in the Bitcoin community is looking for an idea to adapt Bitcoin to the masses. And it still is not in the market yet. Hopefully our platform will give some help to the cause, so we came up with the idea to motivate people by earning money and putting the word out about Bitcoin.
How has Bitcoin technology made Share the Bitcoin possible?
Without the Bitcoin technology, our platform would be impossible to create. Super fast, anonymous, hassle-free transcations could only be done with cryptocurrencies. Even people without banking can join and make transactions. These are only some of the points that made our system doable. Thanks to Satoshi!
Can you share any exciting plans or upcoming features for the service?
Our "sharers" are really working hard to spread the word out, and they are really making a lot of money. We will be adding some social media features to spread the word out even simpler.
What has been the initial user reaction to Share the Bitcoin?
The initial user always comes through someone they know, so there is no trust issue. The only worry they have is "can making money be this simple"; but after their first friend comes in and deposits, they see how simple, fast the system is, after that they go bananas, and try their best to spread the word out and earn big money.
How do you see general Bitcoin awareness and uptake developing in the future?
The awareness will increase. This everyone is sure about, but it will take time. The more work we as contributors put in, the faster awareness will be. I personally take the "Internet, PC even the Social Media" as an example, and how these took seven to eight years to reach mass adoption.