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This article was published on January 23, 2014


App.net will introduce support for Bitcoin if users commit 10 BTC by February 20

App.net will introduce support for Bitcoin if users commit 10 BTC by February 20
Jon Russell
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Jon Russell

Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on T Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on Twitter, Angel List, LinkedIn.

App.net, the social platform started by Dalton Caldwell, has taken an interesting approach to Bitcoin after it turned to its users and asked them to commit to paying their annual membership using the virtual currency.

In order to determine whether payment via Bitcoin is a popular way to spend among its community, App.net is looking to raise a commitment of 10 Bitcoins (around $8,500 based on current valuations) by February 20. The prices for standard, developer and bundle membership packages are below.

appnetbc

Users will have their Bitcoin commitment refunded if the campaign does not pass its target in time, the company says. If 40 Bitcoins or more are committed, it will begin offering its Developer Incentive Program payouts in Bitcoin, as well as regular currency.

Given that App.net has attracted a largely developer crowd, we suspect Bitcoin may prove popular, and it will be interesting to see how the commitment needle moves over the next month or so.

➤ Should App.net Accept Bitcoin? [App.net Blog]

Thumbnail image via Antana / Flickr