AffiliateCoin

[iCodes]

If anyone is interested in Affiliate Marketing, and Crypto Currency, then I highly recommend taking a look at AffiliateCoin..

I've read it from top to bottom and it appears to be extremely promising.

Lee

 

[bonusmedia]

I don't really get it, but I'll try the whitepaper

The networks/platforms have spent the last 15 years+ centralizing fragmented markets, I can't see how reversing that is going to help.

Cutting payment costs, ok - but that's a tiny percentage of revenue.
The networks do a lot more than just run software (which is highly specialised as it is). I can't see them cutting them out without becoming one.
And 'trust' issues aren't really down to the networks, they're mostly down to reporting from the merchants -

If they deliver on these claims, it sounds great, but ultimately as affiliates it isn't our choice to use it or not - we go where the merchants go

Not sure why I'd want to buy any coins though, what would I spend them on?
And I'm only going to accept them in payment if I can turn them straight into real money immediately without risk. Our costs are all paid with money

 

[dazc]

... we go where the merchants go

Yeah, it needs a trusted merchant on board - and there are not many of them around. The trust boat sailed 10 years ago and it's not coming back.

 

[iCodes]

I emailed Mike from AffiliateCoin to make him aware of the thread, this is the reply....


Thank you for the email. I tried to register but they are not accepting new registrations.
These are some good points but I will try to explain

The networks/platforms have spent the last 15 years+ centralizing fragmented markets, I can't see how reversing that is going to help.
It's the database and storage that is decentralised, we will still have a centralised Platform to operate on.

Cutting payment costs, ok - but that's a tiny percentage of revenue. The networks do a lot more than just run software (which is highly specialised as it is). I can't see them cutting them out without becoming one.
We will become a new Affiliate Marketing platform but with all voucher codes, clicks and transactions being stored on the blockchain.

And 'trust' issues aren't really down to the networks, they're mostly down to reporting from the merchants
This is correct but it is the merchant reporting that will be controlled and monitored via our plugins and the blockchain. Every realtionship between merchant and publisher will form part of a smart contract. Every click, sale, transaction etc is logged on the blockchain and when the required action is met the transaction is complete and the publisher is rewarded instantly. It is all part of the smart contract that removes these trust issues.

If they deliver on these claims, it sounds great, but ultimately as affiliates it isn't our choice to use it or not - we go where the merchants go
This is a great point and we are in contact with some very large brands with being of our beta release. Plus with no signup and no subscription fees we will be attracting a lot of merchants new to affiliate marketing (as well as some from existing platforms).

Not sure why I'd want to buy any coins though, what would I spend them on?
As all relationships are stored on the blockchain this space must be paid for, AffiliateCoin will be required to place an Advert on the system and rewards to publishers are given in AffiliateCoin. Publishers can then withdraw the AffiliateCoin as USD, GBP, Bitcoin, Eth or Litecoin. Alternativly they can use it within the system for email broadcasts, Direct Mail shots, Translation services, Content Generation, Media Library Assets etc to help with their publisher activities.

And I'm only going to accept them in payment if I can turn them straight into real money immediately without risk. Our costs are all paid with money
This is completely understandable and there will be an option within the platform to hide all mention of AffiliateCoin and just see USD/GBP. The exchange rate at go live will approximately 1AFL = $0.21 however right now you cna acquire them for 1 AFL = $0.11. Signing up to our registration page will give you 25AFL for free that you can use later on the dashboard. This is part of our crowd funding technique to help drive interest in the platform.

Please read the white paper there are some very interesting concepts in there form VR and AR Marketing to new forms of Pay Per Action that are going to make a real difference to this marketplace.

Best Regards
Mike Dodd

 

[RobM]

*facepalm*

 

[Edwin]

Sounds daft, because of the coin aspect. The blockchain stuff may be clever, but tying it to a cryptocurrency that can fluctuate (and be speculated on) makes a mess of everything.

Had the system been implemented on a fully mined (or whatever the correct term is) blockchain, where the tokens are only used as part of the blockchain but have no inherent worth, then I can see how it could be a game-changer for super affiliates if implemented correctly, since merchants would not be able to wriggle out of paying for fully tracked transactions.

And just like an egg can't be unbroken, once you've taken people's real money and turned it into worthless funny money, you can't then turn around and say "actually this funny money isn't valid currency any more, we're going to pursue a different business model".

I don't see why the blockchain couldn't include data about payments i.e. record the value of each transaction IN REAL MONEY, and what affiliates are owed, so that these can't be disputed. A mechanism could be in place to automatically name and shame merchants that don't pay, including the full amounts outstanding, to police bad actors.

 

[Edwin]

BTW, it's amazing to see how many crypto plays include a plea somewhere in their pitch, along the lines of: "Buy this brand new pulled from thin air currency cheap, it will be worth more later, promise... but whatever you do, give us your money NOW!!!". Sometimes it's thinly disguised, sometimes it's blatant, but if you look for it, it's there.

Surely if enough people buy into that reasoning, there's no need to actually DO anything other than sip cocktails on a beach?

Reminds me of the worst excesses of the last days of the first .com bubble, when startups spaffed their entire investment on crazy launch parties, and truckloads of Herman Miller chairs for their new offices, then found that they had literally nothing left in the bank the first day everyone showed up to work...

 

[websaway]

I have read that the inland revenue are going to treat bitcoin gains as gambling returns, so no tax to pay. So good for gains but not for losses.

 

[bonusmedia]

I have read that the inland revenue are going to treat bitcoin gains as gambling returns, so no tax to pay. So good for gains but not for losses.

No they aren't.

 

[bonusmedia]

Sounds daft, because of the coin aspect. The blockchain stuff may be clever, but tying it to a cryptocurrency that can fluctuate (and be speculated on) makes a mess of everything.

Had the system been implemented on a fully mined (or whatever the correct term is) blockchain, where the tokens are only used as part of the blockchain but have no inherent worth, then I can see how it could be a game-changer for super affiliates if implemented correctly, since merchants would not be able to wriggle out of paying for fully tracked transactions.

And just like an egg can't be unbroken, once you've taken people's real money and turned it into worthless funny money, you can't then turn around and say "actually this funny money isn't valid currency any more, we're going to pursue a different business model".

I don't see why the blockchain couldn't include data about payments i.e. record the value of each transaction IN REAL MONEY, and what affiliates are owed, so that these can't be disputed. A mechanism could be in place to automatically name and shame merchants that don't pay, including the full amounts outstanding, to police bad actors.

Agreed - why do we need a speculative, volatile token for this? Customers are working to strict budgets, the last thing they want is introduce more risk.

If Poundland made me change my money into PoundlandCoins at the door I'd probably stop going. Especially if I then had to work out what everything cost twice every time I bought anything

Maybe the blockchain can track sales perfectly and pay out instantly on every transaction. How is it then going to handle cancellations? Pricing errors? Commission level errors?

 

[Edwin]

In this case, it’s interesting that investor money is being taken in early 2018, yet the affiliate network won’t be switched on until mid 2019. That’s a heck of a long time to sit on a boatload of cash.

Ah, but I’m forgetting. It’s an ICO not an IPO, so you’re not getting a piece of the actual company, but a few bits of data that claim magically to be a currency. And the only way that currency is worth anything is if you can find that “greater fool” to take it off your hands.

Very best of British luck with that!

 

[dazc]

How is it then going to handle cancellations? Pricing errors? Commission level errors?

In a battle for survival they will handle cancellations in the same manner all other networks have done. Hence, this is another complicated way of not solving the trust problem.