The Great Wallet Shift: What’s Next for Podcasters?
Today we look at the evolving landscape of cryptocurrency wallets, particularly focusing on the recent challenges faced by Alby Wallets. As these wallets begin to disappear, hosts Daniel and Dave explore the implications for podcasters relying on streaming satoshis for value for value.
They discuss potential alternatives, including the Albie Hub and other wallet solutions, emphasizing the importance of innovation in this transitional phase. The conversation highlights the necessity for simpler, more user-friendly payment systems that don't require deep technical knowledge, ensuring that podcasters and listeners can easily engage with the ecosystem. Ultimately, the duo encourages a mindset shift towards valuing content and supporting creators, setting the stage for a more sustainable future in podcasting.
Takeaways:
- The podcast discusses the complexities involved with cryptocurrency wallets and their evolving landscape.
- Dave Jackson emphasizes the need for simpler solutions to keep cryptocurrency transactions user-friendly.
- Listeners are encouraged to embrace new technologies and adapt to changes in podcast monetization.
- The conversation highlights the importance of community collaboration in finding innovative cryptocurrency solutions.
- A shift in mindset is needed for audiences to embrace the value for value model.
- The hosts explore potential new models for payment splits that could simplify transactions.
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Find Daniel at theaudacitytopodcast.com
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00:00 - Untitled
00:03 - The Future of Podcasting
00:17 - The Future of Podcasting and Wallets
12:19 - Reevaluating Payment Models in Podcasting
28:06 - The Value for Value Mindset in Podcasting
36:08 - Reflections and Future Plans
Hey, Daniel, what's in your wallet?
DanielThis is the Future of Podcasting, where we ponder what awaits the podcasters of today.
DanielFrom the school of podcasting, here's Dave Jackson.
DanielAnd from the Audacity to Podcast, here's Daniel J.
DanielLewis.
DanielDaniel Future of podcasting, episode 54.
DanielWe're talking wallets today.
DanielThat's fun, but not the kind of wallet you get.
DanielAlthough you can't see this, I have the fun filled.
DanielWhat is the name of this thing when we talk in wallets?
DanielIt is the big skinny wallet, because I used to have the George Costanza one, you know, that you put in your back pocket and would break your hip.
DanielSo they're not a sponsor, but they should be.
DanielBig skinny wallets are my favorite when I have one for my the back pocket of my jeans.
DanielWe're talking wallets in the cloud for Bitcoin, et cetera, et cetera.
DanielAnd the good news is we don't have an official solution, but there is kind of a light at the end of the tunnel.
DanielSince Walletmageddon or whatever we're going to.
Dave JacksonCall that, let's back up and say what the problem is.
Dave JacksonAlbie Wallets are going away.
Dave JacksonThe thing that, like so much of the podcasting 2.0 streaming satoshis was built on this idea of Alby Wallets and something similar to that too, that's basically going away.
Dave JacksonWell, Alby Wallets are going away.
Dave JacksonThere is this Albie Hub thing that is easier now to run than it was when it first came out, but it's still geeky.
Dave JacksonBut it's more possible to do.
Dave JacksonIf this is language that you're familiar with, then you'd be comfortable doing this.
Dave JacksonYou can run Albi Wallet Hub from a Docker image.
Dave JacksonSo if you want to rent a cheap server, you know, a $2 server somewhere, and run Albi Hub on that as your wallet, you could do that.
Dave JacksonIs that necessarily the best thing?
Dave JacksonI don't know.
Dave JacksonBut with some of these tax laws and crypto laws and financial laws and all kinds of things out there, there are all of these concerns around the legality of some of these solutions, or if someone really wants to get into this business of basically hosting wallets, because that makes them a sort of financial provider, which means they have to do all of these other things and that means expensive stuff.
Dave JacksonSo all that to say it's complicated, it's messy for the people creating these wallets that we've used.
Dave JacksonAnd it basically means that what we've been doing for now a couple Or a few years for the Value for Value exchange streaming payments to podcasters through the podcasting 2.0 technology.
Dave JacksonThat's going to end.
Dave JacksonHowever, I think that's a good thing.
Dave JacksonWe've talked about this in this podcast before, where we've said, if we have to move away from this, it will inspire new innovation.
Dave JacksonAnd, Dave, why did you start the future of podcasting?
Dave JacksonOriginally, it was under a different name, but why did you start it?
DanielYeah, because I didn't know a thing about crypto.
DanielThat was the meme that went out, and I was like, well, I guess I'm going to jump in and.
DanielBecause there's only one way to find out, and that's to try using it.
DanielAnd there was.
DanielWhat's the telecommution.
DanielThere's some sort of tela.
DanielSomething telegram involved and all sorts of stuff.
DanielAnd then I.
DanielVoltron or volt voltage or there's some sort of thing.
DanielAnd they're like, wow, you started your own node?
DanielI'm like, I did.
DanielOkay, if you say so.
DanielSo, yeah, it wasn't really easy.
DanielAnd then when Albie came along, it was like, oh, just set this up and you get this email and you copy and paste that.
DanielAnd it made.
DanielIt didn't make it easy, but it made it easier.
DanielAnd then what was interesting is after everybody kind of like, hey, this is easier.
DanielWow.
DanielAnd then we all jumped on it.
DanielAnd I remember the first time Adam said, you know, we've kind of taken this thing that's all about being decentralized and it's kind of centralized.
DanielAnd I went, yeah, that's not a good thing when you think about it.
DanielAnd I was.
DanielI know.
DanielWhoever voltage I think it was, I was using, but that was like 20 bucks a month.
DanielAnd I was like, well, this thing, they just take a piece of my action, I'm assuming.
DanielOr they remember when I met them, I said, what's the business model?
DanielAnd they're like, we're going to worry about it later.
DanielAnd I was like, oh, that's always kind of, you know, so they're great guys and, you know, they've given you a solution if you.
DanielAgain, if you're kind of nerdy, to get Albie Hub, I have no idea what I'm doing.
DanielI just asked them, I'm like, hey, I just want to be able to receive sats like I used to.
DanielAnd they're like, oh, this?
DanielAnd I'm like, okay.
DanielAnd I have no idea, like, if they said, go in and change the perplexiflexer to, you know, minus gigawatts gonna be like, I have no idea.
Dave JacksonRecalibrate the flux capacitor.
DanielExactly.
DanielI'd be.
DanielI have no idea what you're talking.
DanielI still don't know.
DanielYou know, I, I know enough to be dangerous and if you got a good help section, I can probably figure it out, but.
DanielAnd from what I get, we're paying them in crypto and I'm on like a three month deep discount, but once the price goes back to normal, I'm going to have to.
DanielAnd again, kind of much the problem.
DanielI'm going to have to transfer money from my bank account to my strike account so I can then pay their invoice in crypto.
DanielSo that whole thing is like, I don't know how it's going to work, if it's going to automatically try and if I don't have enough money in my strike, it's going to bounce.
DanielI'll have to figure that out when the, the bill comes through.
DanielBut I appreciate the effort that they've put in.
DanielYou know, we wouldn't have gotten this far without the lovely boys over at Alby.
DanielBut when I saw the price and I finally, whatever it's, it's like 20 something dollars a month and I'm like, I'm not getting anywhere near that, like even if I broke even.
DanielBut.
DanielSo for now I'll probably keep using it just because I guess the alternative, that's my whole question, would be to either open a Fountain wallet or something at True Fans with Sam.
DanielAnd I'm not sure either one of those is set up to be.
DanielI know listeners can put money in to support the podcasters, but I'm not sure podcasters can use it as kind of a, an input for crypto.
DanielI'm not sure how Fountain works exactly, but I know Oscar and that was the thing.
DanielOscar was on the latest episode of the podcasting 2.0 show.
DanielAnd to his credit, and this is where Oscar really, I mean, the whole community, it's interesting how we all work together and basically Oscar came up with something because he could have just said, hey, everybody got to use Fountain.
DanielI know we're going to trade one centralized version for another one, but he's like, oh, you can use Fountain, but here's this other thing you can use.
DanielSo he actually made something that might end up being his competitor.
DanielAnd I was like, that just shows the heart of somebody who does something that's good for the space.
DanielNot so much great for him because it could be a competitor, but I just thought it was nice that he was like, all right, somebody's got to have a solution.
DanielAnd I know it has something to do with Nostr, in name only, but not really Nostr, whatever that is.
DanielAnd he kind of put it out there, said, hey, here's the solution, and we can all look at it.
DanielAnd most really good ideas don't come in the first draft.
DanielIt's when somebody looks at it and goes, oh, this is pretty neat.
DanielI wonder if we could get it to do this, or what if we tied it in with this or that whole thing?
DanielSo that's from what I could hear without really understanding most of what they were talking about with the details, I was like, I was just happy that we have people working on it.
DanielAnd it sounds like they have something that if they have to, because come January, whatever the date was, I want to say 16th, it's going away.
DanielSo we got to have something in place.
DanielAnd now it's a matter of all hands on deck to kick the tires on this and see if this is the best idea for now.
DanielAnd then we have to leave enough time for app developers to be able to rework their apps to somehow use whatever new format that's going to be in place.
Dave JacksonYeah, and it's that first draft, second draft sort of thing that has me excited because I feel like we got too into and too committed to the first draft, which was the whole streaming satoshis and the Albie approach to this.
Dave JacksonAnd I know there were other things to it.
Dave JacksonSo this isn't.
Dave JacksonEverything is on Albie's shoulders.
Dave JacksonIt's not like that.
Dave JacksonBut we did build around this one model and really put all of the focus and attention on this one approach, and it was a very geeky approach.
Dave JacksonAnd like in my keynote presentation years ago, my prediction about the future of podcasting is that the technology will disappear whenever you build something completely brand new on the cutting edge, the technology is very visible, and the geeks love getting into the technology.
Dave JacksonThat's like why podcasting in the beginning was mostly tech shows, because it was all the nerds and geeks who could figure out how to podcast and publish it.
Dave JacksonBut then, as podcasting has become far more accessible since then, we've seen more people who know nothing about the technology, being able to get their voices out there through podcasting.
Dave JacksonI think that is wonderful.
Dave JacksonThey shouldn't have to know the tech.
Dave JacksonSame thing here in podcasting 2.0.
Dave JacksonWith a lot of these features we're making, I really think the approach needs to be that they shouldn't have to know the tech.
Dave JacksonThey shouldn't have to understand how it works.
Dave JacksonIt should be as simple as clicking a few buttons or filling in a few fields.
Dave JacksonNot this stuff like having to know are you using keysend or node or what is your.
Dave JacksonAll of this stuff making it simpler.
Dave JacksonAnd I'm excited about this because it's forcing everyone to get on board with coming up with something new.
Dave JacksonAnd there have been multiple suggestions of different approaches that could be taken to this.
Dave JacksonOne of the things that's been talked about is right now, what podcasting 2.0 is doing with the streaming satoshis isn't being done almost anywhere else.
Dave JacksonAnd that is where it is actually streaming the payments from the listener's wallet to the podcaster's wallet and all of the other wallets that might be in the splits as well.
Dave JacksonAnd that's happening every minute.
Dave JacksonThat's not being done in other places as people are reevaluating things.
Dave JacksonThat's one of the things that people have thought about is, well, do we really.
Dave JacksonDo we really need the ability to stream the payments every minute?
Dave JacksonWhy not just count up?
Dave JacksonLike you have a ticker that at the end of the episode or whenever you pause an episode or stop or delete it or whatever, whenever you move on from an episode for whatever reason, that's when the payment is sent.
Dave JacksonJust one single payment for however long you've listened.
Dave JacksonSo it's still the effect of a streaming payment where someone is paying you based on how much they listen to the podcast or paying automatically.
Dave JacksonThe actual implementation is different.
Dave JacksonThere are some other ideas that are being discussed that I really like these ideas because another problem that we've created is the split apocalypse or the overload of splits.
Dave JacksonLike, well, let's be honest.
Dave JacksonIf you look at the podcasting 2.0 show for this and actually look at their splits, it can look like a mess sometimes because there are so many splits in the RSS feed.
Dave JacksonAnd the reason for that is that Adam and Dave are being so generous to the ecosystem.
Dave JacksonSo they want other people to get a split of the money that's coming in.
Dave JacksonAnd that's great.
Dave JacksonI'm not saying that idea is bad, the implementation of that.
Dave JacksonI think when we came up with the idea of splits, we were initially thinking, you put yourself in there and your co host, and then maybe someone gets a fee for a service they're providing and that's it.
Dave JacksonI don't think we anticipated the two dozen splits and splitting things up on the chapter level.
Dave JacksonOr individual sections of an episode.
Dave JacksonSo these are uses that have come out in the last couple of years that we've then squeezed into the way we were doing things because we had already committed to that way of doing things.
Dave JacksonWell, if we have to change the way we're doing things, then we can also reevaluate our implementations for these other things.
Dave JacksonAnd one of the ideas that I really like is where.
Dave JacksonNow, I'm not completely clear on the technical explanation for this, but here's the conceptual explanation is where instead of putting all your splits in your RSS feed, you put a single.
Dave JacksonWe'll just call it like a payment destination.
Dave JacksonAnd a payment is sent to that single destination, and then that destination handles where the splits go.
Dave JacksonAnd it could even be possible that that destination could receive multiple types of payment.
Dave JacksonSo let's just throw this out there.
Dave JacksonIt could receive satoshis, which are small portions of Bitcoin.
Dave JacksonIt could receive Ethereum, maybe other kinds of cryptocurrency.
Dave JacksonIt could receive a PayPal payment.
Dave JacksonMaybe it integrates nice with Vemo and Stripe and other things like that.
Dave JacksonNow, how technically possible that is, I don't know, but that's what I'm talking about.
Dave JacksonThat could potentially be built into this, where it's then this one universal end point where it's like, send your money here.
Dave JacksonWe'll figure out how to actually convert that and use it.
Dave JacksonI think that's a much better approach to this.
Dave JacksonAnd that's the kind of thing that people are talking about because we're having to throw out the old models.
Dave JacksonOld models.
Dave JacksonThis is all brand new.
Dave JacksonSo it's.
Dave JacksonWe can't really call it old.
Dave JacksonWe just can say the current model rather.
Dave JacksonSo we have to look at this.
Dave JacksonIt's like a door is closing.
Dave JacksonAnd instead of just trying to look for an open window or build another door, we're saying, you know what?
Dave JacksonAs long as that door is closed, how about we rebuild the whole house and make the whole house better and with a better door on it, too?
DanielAnd it is.
DanielIt's amazing that it works.
DanielBut when we brought music into this, and the fact that you could send a payment to a band and that band could then split it amongst the members, I was like, that's really cool.
DanielAnd now looking back, I go, but did that complicate things?
DanielLike, we haven't really got full adoption of the streaming sats in the first place, and we're already adding more complexity to it.
DanielAnd I'm like, I mean, I really do.
DanielI love the idea But I'm like, maybe not.
DanielYou know what I mean?
DanielIt's like, maybe it should just be here.
DanielHere's 20 bucks for the band.
DanielYou guys argue about it.
DanielThe drummer is going to get less.
DanielThat's just in the handbook.
DanielBut it'll be interesting to see.
DanielCan we take all this progress that we've done with the splits?
DanielBecause I really do think is that the magic switching wallet where splits came in for something that was magic.
DanielSo I don't want to get rid of the magic.
DanielBut it might be one of those where we have to step back and go, maybe we come back to this later.
DanielLet's just get it working now with just sending a payment and then later we can figure out what to do with the splits.
DanielWe'll have to see.
DanielBut I haven't looked at the.
DanielBecause I'm not going to understand it anyway.
DanielThe thing that Oscar made.
DanielBut I should go, at least sniff it so I can go, yes, I don't understand this, but I love the fact I know it's on GitHub or something that you can, if you are of that persuasion, you can go play with it.
DanielSo that'll be fun to see what comes about.
Dave JacksonAnd this is the way that programming works many times where you make something rough in the beginning that gets by and does its job.
Dave JacksonAnd let me self promote here for a moment.
Dave JacksonPodgagement.
Dave JacksonSo has the new charts and rankings feature that I started building that five years ago.
Dave JacksonThat's why my chart data for POD gaugement goes back five years now.
Dave JacksonThe way that I stored all of that data for all of these years was not the best way.
Dave JacksonSo it's taking a long time to convert all of that data over to be usable.
Dave JacksonBut that code that I made five years ago, I look at that now and it is horrible.
Dave JacksonIt is embarrassingly bad, but it's getting the job done.
Dave JacksonIt's been working for five years.
Dave JacksonBut now that I look at it with now five years of experience, like that was my first app that I programmed completely by myself with my new knowledge of the programming language that I was using.
Dave JacksonAnd I made it work well.
Dave JacksonNow I've learned a whole lot more since then.
Dave JacksonI've observed a lot more different ways of doing things.
Dave JacksonI've learned better practices.
Dave JacksonEven just the file structure of these different files that are parts of my whole program, it's a mess.
Dave JacksonBut I have a much better structure now.
Dave JacksonSo when I can, I'm going to rebuild it into a better structure and optimize it and find ways to make it go faster and to be more thorough and to be more automated in certain aspects, because that's what you can do.
Dave JacksonYou.
Dave JacksonYou build it rough.
Dave JacksonIt's that minimum viable product idea that it might be really rough in the beginning, but it's just getting it out there, the proof of concept, or getting something working, and then you're building on that in the future.
Dave JacksonI know some people hate the gaming industry for doing this, though, where a lot of companies release games that basically aren't finished.
Dave JacksonThe games of our days, Dave, when we played video games as kids, you got it.
Dave JacksonAnd that's what you got, is what you got on a disc, on a cd, on a cartridge, whatever it was that was on that, that's what you got.
Dave JacksonThere were no DLCs, there were no patches.
Dave JacksonThe companies had to make sure the game worked from the start.
Dave JacksonNow, the games were a lot simpler back then, so it was easier for that.
Dave JacksonBut, you know, nowadays some of these games, they're released and they have so many bugs, so many problems, and it takes sometimes years to work out all of these things.
Dave JacksonSometimes it's just unanticipated stuff, untested stuff.
Dave JacksonSometimes it's just they decide we have to put it out there rough and we'll fix it in post, that kind of thing.
Dave JacksonLike we do sometimes in podcasting, where we just record a horrible show and think we can fix it up in the editing.
Dave JacksonSometimes you can, sometimes you can't.
Dave JacksonBut here we are in this next phase where we can reevaluate these things and think about, do we really want to put so many splits inside the RSS feed, or can we somehow delegate that elsewhere?
Dave JacksonDo we really want to be tied?
Dave JacksonAnd the bitcoin idea, regardless of whether we use bitcoin and satoshis, does the audience need to know it's bitcoin and satoshis?
Dave JacksonCould we instead just talk about credits or tokens, even though it might be exactly the same as bitcoin?
Dave JacksonSo maybe instead of satoshis, like, maybe we say a credit is worth a thousand satoshis.
Dave JacksonSo then you're sending one credit to a podcaster and you're really sending 1000 satoshis, but it's an equal value like that.
Dave JacksonThat kind of thing could happen too, where we can just really reevaluate a lot of these things to try and make it easier for everyone else so that it doesn't require so much learning in order to just get money from people.
Dave JacksonBecause I really think, and this is the direction we're going now, it needs to be as easy for the audience as pretty much they just press pay in their app and they connect a payment method on the first time and anytime after that, everything else is either automated or just a simple button press.
Dave JacksonNone of this having to transfer money from one place to another or convert it from one thing to another, even having to think about that.
Dave JacksonAnd some people are afraid of bitcoin, whatever reason.
Dave JacksonWe could call it anything else.
Dave JacksonLike James Gridland talks about it, like Internet tokens or kind of like circus tickets or fair tickets.
Dave JacksonWe could call it anything else.
Dave JacksonAnd I think some people would be less afraid of it, but they hear Bitcoin, and some people are afraid just because of whatever reasons that has bad connotations in their mind.
Dave JacksonWe could move beyond that, and I think we should, so that they don't have to think about the underlying technology.
Dave JacksonIt's just like when we send each other money, we don't really think about how it's converting.
Dave JacksonOr like with Apple pay, for example, from iPhone to iPhone, or Google Pay from Android device to Android device, you don't have to transfer money from your bank account into an Apple account and then into your iPhone and then send it to the other person who then has to transfer it and convert it and do all of this stuff.
Dave JacksonIt's pretty much straight from my bank account to your bank account via this other technology.
DanielYeah, that's what we're aiming for, I guess.
DanielThe other thing I just wanted to kind of say for anyone who's.
DanielI know for a while when we didn't hear anything, we kind of knew this wasn't going to work.
DanielAnd they were like, okay, well, what are we going to replace it with?
DanielAnd nothing really came about.
DanielAnd then nothing can.
DanielYou know, people are busy, it's that time of year.
DanielAnd so I could see where I was even kind of going, ooh, maybe this particular part of 2.0 isn't going to work.
DanielAnd if you think about it, you made a great point.
DanielWhen I first started podcasting, I used to keep every file I used for that episode, and I would export it as a WAV file, and then I would export it as an MP3.
DanielWhy?
DanielBecause I didn't know if I needed them or not.
DanielAnd I might.
DanielI don't know if they're going to build a Dave Jackson library or something in the future.
Daniel60 Minutes is going to call.
DanielI don't know what I was thinking, but I was like, no, I need a wave version of this.
DanielAnd I look back now and go, why?
DanielWhy did I do that?
DanielAnd because you didn't know.
DanielYou're like, well, I want to keep this in case I need it.
DanielAnd now once I finish an episode, I Keep the finished MP3 and the rest is out the door.
DanielI'm like, I don't.
DanielYou know, I've never once had to go, oh, wait, I need just the recorded version of me from episode 72.
DanielNo, I don't need these anymore.
DanielSo this is kind of one of those times when we look back and go, oh, you know what?
DanielMaybe we don't need this.
DanielWe thought we needed it, but we don't.
DanielSo let's move forward in a more efficient way, in a way that makes more sense and maybe is a little more open and able to connect more things.
DanielSo that's the other thing.
DanielI was like, okay, this is just.
DanielIt's just a little learning curve, a little speed bump, you know, that we go, oh, yeah, we thought that was going to work.
DanielAnd then it didn't.
DanielSo we then switched to that.
DanielSo you can think of it as you're living through history right now.
DanielAnd the other thing I noticed, it's going to be annoying.
DanielA lot of people are going to complain, but I know, is it.
DanielI want to say Verge.
DanielIs it Verge or Verve when we talk about the online.
Dave JacksonThe Verge.
DanielYeah, the Verge.
DanielOkay.
DanielThey have announced that they're going to go behind a paywall, and so is Bloomberg.
DanielSo all the great podcasting articles about from Ashley Carmen, they're going behind a paywall.
DanielAnd I'm kind of like, I don't really want Bloomberg.
DanielI just want, like, can Ashley go solo on Substack or something?
DanielTo where I just.
DanielBut I saw that I was kind of like, oh, man, another subscription.
DanielAnd I'm like, I think that's just the way things are going to go.
DanielWe're going to get nickeled and dime to death.
DanielAnd the things you want, you'll pay for, and the things you don't, you won't.
DanielBut at least the idea of, hey, maybe you should pay your podcast or something hopefully won't seem like such a foreign idea.
DanielAs opposed to, well, they're supposed to be free.
DanielIt's like, no, no, you pay for things that you value.
DanielAnd so I'm hoping to see people that pay for other subscriptions are going to see this as just like, oh, yeah, things that deliver value, I need to pay for.
DanielSo I'm hoping that kind of spills over into the mentality as we start to move this way when people Go.
DanielWhat do you mean?
DanielI have to get a cash app account or strike or whatever it is.
DanielIt's like, no, this is how this works.
DanielAnd those that want to pay will go through the extra steps, and those that don't, well, even right now, I like Castamatic.
DanielThat's one of my faves.
DanielRight now I'm using Podcast Guru, but the developer of Castamatic is in Italy.
DanielAnd Strike, one of the things used in the proposed solution isn't available in Italy, so he can't even test his app.
DanielSo that's going to be, in a way, as you said earlier, okay, that's a closed door.
DanielThat means I want to say Frederick or I forget the developer of Castomatic.
DanielThat guy's going to have to find something different.
DanielAnd so he might end up coming up with a completely different solution that's better.
DanielSo it'll be interesting to see, because if you're in a maze and you come to a dead end, you don't go, oh, well, I guess we'll just sit here and die of starvation.
DanielYou know, you go back and find a different way outside of the maze.
DanielSo it'll be fun to watch.
Dave JacksonYeah.
Dave JacksonAnd that this whole complicated system has already been received with such enthusiasm and used in so many places to some good success, shows it really proves the concept that people are willing to do this.
Dave JacksonLike you consider a podcast, like the buzzcast from our friends at Buzzsprout, where, yes, they have an audience of podcasters, but they were doing this podcast before the podcasting 2.0 stuff came out, before the Value for Value.
Dave JacksonAnd I don't think they ever asked for money or donations from their audience before the Value for Value feature in podcasting 2.0 came out.
Dave JacksonBut when the streaming satoshis and booster grams did come out, then they did start supporting that.
Dave JacksonAnd their audience, even though they don't get super techie, their audience still started giving them money because they were using this thing.
Dave JacksonAnd I know that's on the fringe because their audience is an audience of podcasters, and we podcasters are more on the fringe of the technologies and such, but still, it shows that it's doable and people are interested in it.
Dave JacksonIt's like, we've proven that there is a need for this.
Dave JacksonThere are ways to do this.
Dave JacksonWe've had success with a way.
Dave JacksonNow we have to find a different way, and we will find a different way.
Dave JacksonAnd I think it will end up being a better way because we've gotten phase one out.
Dave JacksonWe've discovered new ways of using it.
Dave JacksonWe've discovered new needs that whatever has to accommodate.
Dave JacksonSo I think it will become a whole lot easier.
Dave JacksonThe biggest hurdle to a lot of other things, like, a lot of people might think, well, why don't you just use Stripe and PayPal?
Dave JacksonThe biggest hurdle is not the percentage.
Dave JacksonA percentage is fine.
Dave JacksonPercentages, I think, are good, like a.
Dave JacksonA fee, a percentage of whatever is being given.
Dave JacksonA percentage fee is taken out.
Dave JacksonThat's fine.
Dave JacksonWhat's not good are some of these systems take also an additional flat rate on top of that.
Dave JacksonLike PayPal and Stripe are close to 50 cents per transaction, plus the percentage fee.
Dave JacksonSo if someone, for example, wanted to give 50 cents to every podcast episode that they listen to, that's just not doable through PayPal.
DanielRight?
Dave JacksonAnd 50 cents, I know that is tiny.
Dave JacksonYes, I know that.
Dave JacksonBut as we can get into this mindset and more and more people will start to think about this as, how much do I value what I'm getting?
Dave JacksonThis is where the real concept of value for value is.
Dave JacksonIt is not in streaming satoshis.
Dave JacksonIt's the mindset.
Dave JacksonIt's, I value this thing I'm getting, therefore, I want to give something of value back.
Dave JacksonWe're creating a sense of reciprocity in people and pointing that out to them to say, hey, we've given you all of this value.
Dave JacksonLike, just recently, Overcast Marco announced that he was raising the price of Overcast, raising it by 50%, which is $5 a year.
Dave JacksonSo it's going from $10 a year to $15 a year.
Dave Jackson$15 a year.
Dave JacksonAnd do you know how many hours Overcast runs on my device?
Dave JacksonYeah, I mean, we're talking.
Dave JacksonI get thousands of hours of content from Overcast per year.
Dave JacksonIs that worth $15 to me?
Dave JacksonYeah, it's worth more than that.
Dave JacksonSo if he raised the price to more than that, I would be willing to pay it, because I value his app and his service like that.
Dave JacksonAnd so bringing it back to the podcast and podcasters, as I think more audiences get used to seeing options to pay for things, whether that's with bonus content or it's just giving money back, I think the more and more that becomes commonplace, the more they'll be willing to do it.
Dave JacksonAnd maybe even if they can see, oh, I can give just 50 cents an episode, I can spare 50 cents an episode.
Dave JacksonAnd like even me, and I've referenced before, cash flow is just an issue right now.
Dave JacksonBut even me, when I think about, could I give just even just 50 cents to each podcast.
Dave JacksonI listen to 50 cents a month even to each podcast.
Dave JacksonYeah, I can do 50 cents.
Dave JacksonYou know, that's just shake out my couch every month, and probably more than that will fall out of it every month.
Dave JacksonI could do that now, getting to that process of being able to support all of those podcasts, that's where the technology comes in.
Dave JacksonBut this mindset is what we need to train our audience.
Dave JacksonBut not even saying, hey, give us 50 cents, but leaving it open.
Dave JacksonAnd this is again, the concept of value for value is what is this worth to you?
Dave JacksonAnd would you want to consider, can you give that back if it's been worth that to you?
Dave JacksonTo some people?
Dave JacksonLike, you listen to the no Agenda show and you hear some people giving thousands of dollars in one single payment because they feel the podcast is worth that much to them.
Dave JacksonAnd I saw the same thing when I was doing a TV show fan podcast about the TV show once upon a time, that when we started accepting donations, I was amazed.
Dave JacksonSome people were paying us $100 a month for a free podcast about a free TV show.
Dave JacksonAnd this was before I was listening to no Agenda or really familiar with the concept of value for value, even though I was basically doing it.
Dave JacksonIt's just when people have that opportunity and we can make it easy for them to give back, they'll be far more likely to do it of whatever value amount they attribute to that thing.
DanielIt's funny, because on one hand, we all work really hard on our craft and our content, and then when people pay us for it, we're like, hey, like, somebody find this valuable?
DanielAnd I'm like, well, yeah, you put.
DanielYou put a lot of time and effort into it.
DanielIt's worth something.
DanielI know.
DanielThe thing I love about at least you mentioned the no Agenda show is the insane back catalog they have.
DanielSo they'll mention something in the, you know, news today, and John and Adam would be like, wait a minute, didn't they say the direct opposite, like, four months ago?
DanielAnd within seconds, Adam has this clip.
DanielAnd that's just something the mainstream media doesn't do.
DanielThey don't hold themselves accountable.
DanielBut John and Adam do.
DanielAnd they're like, yep, that's what he said.
DanielThat's the direct opposite, or whatever it was.
DanielSo.
DanielAnd that, to me, is valuable.
DanielI'm like, oh, I'm not getting this in mainstream news or even on some of the kind of specialty news shows.
DanielI'm like, I just don't get that kind of information.
DanielSo I know I'm set up on PayPal to give them a certain amount of money.
DanielEvery now and then, I'll send them in a boost I need to claim my knighthood.
DanielI'm actually a knight.
DanielI guess I'm a silent knight at this point because I've never sent in money and going, hey, I want my ring.
DanielAnd then that whole nine yards.
DanielSo, you know, we're going to have to be patient.
DanielI know it's only till January when Albie will close.
DanielHopefully, you know, this will be put in place.
DanielThat's going to be the.
DanielThe hard part because the, the process is, let's all beat the snot out of this, make sure it's the best solution that we feel we have for now.
DanielAnd then the apps are going to have to update.
DanielAnd then I would believe media hosts like I know Captivate has a place where you put in your information.
DanielI'm assuming that's going to have to change to connect to this new style of receiving payments.
DanielSo we're all going to kind of have to scramble.
DanielAnd it may be that in some cases, not everybody gets updated by, like, your wallet might break for a small amount of time.
DanielHopefully small, where not everybody can meet the deadlines.
DanielBecause, look, it's the holiday season.
DanielWe all have lives and most of us that work in this space have other jobs.
DanielSo it's going to be interesting to see.
DanielSo if I was an AI person, I would say to strap yourself in.
DanielIt's going to be maybe a bumpy road, but we're going to have to do a deep dive into the new technology.
DanielYou know, every time I say deep dive now, I'm like, oh, I'm so AI.
DanielUgh.
Dave JacksonBut you know what's not AI, Dave?
Dave JacksonIf people wanted to do a deep dive and learn how to refine their craft of podcasting and their content and either start or improve their podcast, where should they go?
DanielI think a good place to start would be the school of podcasting where you get step by step courses, you get an awesome community, and you get unlimited.
DanielYes.
DanielThat's not a typo consulting with me.
DanielAnd if I wanted to maybe see how my show is doing, maybe even use something that tracks charts or maybe gives me voicemail or reviews all in one place.
DanielDaniel, do you know of anything that could do that?
Dave JacksonAbsolutely.
Dave JacksonGo to pod gagement.com now with charts and ranking features and SEO tracking features coming soon too.
Dave JacksonSo think podcast engagement.
Dave JacksonYou want podcast engagement, you want to grow it and improve your podcast and grow your podcast?
Dave JacksonGo to pod engagement.com so speaking of.
DanielSatoshis and all that fun stuff, Dino, do we have any boostograms?
Dave JacksonWe did.
Dave JacksonWe got two boostograms.
Dave JacksonThank you very much.
Dave JacksonEspecially since this might be a dying breed, the boostogram thing.
Dave JacksonNo, no, Boostograms aren't going away, but method might change.
Dave JacksonWe got a boostogram from Randy Black, 1000 SATs.
Dave JacksonHe said another great podcast.
Dave JacksonKeep up the great work, guys, and go podcasting.
DanielExcellent.
DanielThank you, randy.
Dave JacksonAlso, we got 777 sats from Steve Webb, Sir OG Godcaster, who said, love the show, guys.
Dave JacksonThank you.
Dave JacksonWe love you too.
DanielAbsolutely, Steve Webs.
DanielThat is an OG right there.
DanielHe goes back to that was the very first whatever it was new media something expo with the podcast brothers.
DanielBecause it was Tim Berkwin's.
DanielWe'll dust off 20 year knowledge.
DanielThere was a guy named Tim Berkwin and Amir.
DanielThey were the podcast brothers.
DanielAnd they were the guys that held kind of the first big podcast meetup.
DanielIt was in I want Ontario.
DanielDoesn't sound right, but maybe that's.
Dave JacksonYeah, that's what everyone talks about, Ontario.
DanielOkay, there you go.
DanielWell, you know, it's 24 years old now.
DanielThe memories aren't quite as clear as they used to be.
DanielSo as we record this, we're in December and so what we're going to do, we're not going to do an episode anymore in December, I guess as a way of saying that.
DanielBut here's what you can do if you want.
DanielYou can go to futureofpodcasting.net follow and if you're not following the show, you can and actually comb through our back catalog, maybe find some old ones.
DanielDaniel mentioned that when the show first started, it wasn't called the Future of Podcasting.
DanielYou can go back to the very first show, although that would be bad.
DanielBut you could and cherry pick our old episodes there if you want to while you're waiting for another episode to come back.
DanielSo what we can do at this point, it's almost a dad joke.
DanielIt's so bad.
DanielYou know, we'll see you next year.
Dave JacksonGet it?
DanielBecause in January.
DanielYeah, okay, excellent.
DanielBut I think that's going to do it for episode 54 of the Future of Podcasting.
DanielEverybody have a Merry Christmas.
DanielI always say.
DanielHappy Kwanza, Massaca.
DanielI think that covers everybody.
DanielAnd we will see you in 2025.
Dave JacksonAnd a happy New Year.