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.
Mentioned in This Episode
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Find Dave at schoolofpodcasting.com
Find Daniel at theaudacitytopodcast.com
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See you next year!
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00:00 - None
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?
Daniel
This is the Future of Podcasting, where we ponder what awaits the podcasters of today.
Daniel
From the school of podcasting, here's Dave Jackson.
Daniel
And from the Audacity to Podcast, here's Daniel J.
Daniel
Lewis.
Daniel
Daniel Future of podcasting, episode 54.
Daniel
We're talking wallets today.
Daniel
That's fun, but not the kind of wallet you get.
Daniel
Although you can't see this, I have the fun filled.
Daniel
What is the name of this thing when we talk in wallets?
Daniel
It 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.
Daniel
So they're not a sponsor, but they should be.
Daniel
Big skinny wallets are my favorite when I have one for my the back pocket of my jeans.
Daniel
We're talking wallets in the cloud for Bitcoin, et cetera, et cetera.
Daniel
And the good news is we don't have an official solution, but there is kind of a light at the end of the tunnel.
Daniel
Since Walletmageddon or whatever we're going to.
Dave Jackson
Call that, let's back up and say what the problem is.
Dave Jackson
Albie Wallets are going away.
Dave Jackson
The 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 Jackson
Well, Alby Wallets are going away.
Dave Jackson
There 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 Jackson
But it's more possible to do.
Dave Jackson
If this is language that you're familiar with, then you'd be comfortable doing this.
Dave Jackson
You can run Albi Wallet Hub from a Docker image.
Dave Jackson
So 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 Jackson
Is that necessarily the best thing?
Dave Jackson
I don't know.
Dave Jackson
But 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 Jackson
So all that to say it's complicated, it's messy for the people creating these wallets that we've used.
Dave Jackson
And 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 Jackson
That's going to end.
Dave Jackson
However, I think that's a good thing.
Dave Jackson
We'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 Jackson
And, Dave, why did you start the future of podcasting?
Dave Jackson
Originally, it was under a different name, but why did you start it?
Daniel
Yeah, because I didn't know a thing about crypto.
Daniel
That was the meme that went out, and I was like, well, I guess I'm going to jump in and.
Daniel
Because there's only one way to find out, and that's to try using it.
Daniel
And there was.
Daniel
What's the telecommution.
Daniel
There's some sort of tela.
Daniel
Something telegram involved and all sorts of stuff.
Daniel
And then I.
Daniel
Voltron or volt voltage or there's some sort of thing.
Daniel
And they're like, wow, you started your own node?
Daniel
I'm like, I did.
Daniel
Okay, if you say so.
Daniel
So, yeah, it wasn't really easy.
Daniel
And then when Albie came along, it was like, oh, just set this up and you get this email and you copy and paste that.
Daniel
And it made.
Daniel
It didn't make it easy, but it made it easier.
Daniel
And then what was interesting is after everybody kind of like, hey, this is easier.
Daniel
Wow.
Daniel
And then we all jumped on it.
Daniel
And 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.
Daniel
And I went, yeah, that's not a good thing when you think about it.
Daniel
And I was.
Daniel
I know.
Daniel
Whoever voltage I think it was, I was using, but that was like 20 bucks a month.
Daniel
And I was like, well, this thing, they just take a piece of my action, I'm assuming.
Daniel
Or they remember when I met them, I said, what's the business model?
Daniel
And they're like, we're going to worry about it later.
Daniel
And 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.
Daniel
Again, if you're kind of nerdy, to get Albie Hub, I have no idea what I'm doing.
Daniel
I just asked them, I'm like, hey, I just want to be able to receive sats like I used to.
Daniel
And they're like, oh, this?
Daniel
And I'm like, okay.
Daniel
And 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 Jackson
Recalibrate the flux capacitor.
Daniel
Exactly.
Daniel
I'd be.
Daniel
I have no idea what you're talking.
Daniel
I still don't know.
Daniel
You know, I, I know enough to be dangerous and if you got a good help section, I can probably figure it out, but.
Daniel
And 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.
Daniel
And again, kind of much the problem.
Daniel
I'm going to have to transfer money from my bank account to my strike account so I can then pay their invoice in crypto.
Daniel
So 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.
Daniel
I'll have to figure that out when the, the bill comes through.
Daniel
But I appreciate the effort that they've put in.
Daniel
You know, we wouldn't have gotten this far without the lovely boys over at Alby.
Daniel
But 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.
Daniel
But.
Daniel
So 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.
Daniel
And I'm not sure either one of those is set up to be.
Daniel
I 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.
Daniel
I'm not sure how Fountain works exactly, but I know Oscar and that was the thing.
Daniel
Oscar was on the latest episode of the podcasting 2.0 show.
Daniel
And 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.
Daniel
I 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.
Daniel
So he actually made something that might end up being his competitor.
Daniel
And I was like, that just shows the heart of somebody who does something that's good for the space.
Daniel
Not 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.
Daniel
And I know it has something to do with Nostr, in name only, but not really Nostr, whatever that is.
Daniel
And he kind of put it out there, said, hey, here's the solution, and we can all look at it.
Daniel
And most really good ideas don't come in the first draft.
Daniel
It's when somebody looks at it and goes, oh, this is pretty neat.
Daniel
I wonder if we could get it to do this, or what if we tied it in with this or that whole thing?
Daniel
So 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.
Daniel
And 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.
Daniel
So we got to have something in place.
Daniel
And 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.
Daniel
And 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 Jackson
Yeah, 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 Jackson
And I know there were other things to it.
Dave Jackson
So this isn't.
Dave Jackson
Everything is on Albie's shoulders.
Dave Jackson
It's not like that.
Dave Jackson
But 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 Jackson
And 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 Jackson
That'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 Jackson
But 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 Jackson
I think that is wonderful.
Dave Jackson
They shouldn't have to know the tech.
Dave Jackson
Same thing here in podcasting 2.0.
Dave Jackson
With 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 Jackson
They shouldn't have to understand how it works.
Dave Jackson
It should be as simple as clicking a few buttons or filling in a few fields.
Dave Jackson
Not this stuff like having to know are you using keysend or node or what is your.
Dave Jackson
All of this stuff making it simpler.
Dave Jackson
And I'm excited about this because it's forcing everyone to get on board with coming up with something new.
Dave Jackson
And there have been multiple suggestions of different approaches that could be taken to this.
Dave Jackson
One 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 Jackson
And 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 Jackson
And that's happening every minute.
Dave Jackson
That's not being done in other places as people are reevaluating things.
Dave Jackson
That's one of the things that people have thought about is, well, do we really.
Dave Jackson
Do we really need the ability to stream the payments every minute?
Dave Jackson
Why not just count up?
Dave Jackson
Like 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 Jackson
Just one single payment for however long you've listened.
Dave Jackson
So 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 Jackson
The actual implementation is different.
Dave Jackson
There 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 Jackson
Like, well, let's be honest.
Dave Jackson
If 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 Jackson
And the reason for that is that Adam and Dave are being so generous to the ecosystem.
Dave Jackson
So they want other people to get a split of the money that's coming in.
Dave Jackson
And that's great.
Dave Jackson
I'm not saying that idea is bad, the implementation of that.
Dave Jackson
I 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 Jackson
I don't think we anticipated the two dozen splits and splitting things up on the chapter level.
Dave Jackson
Or individual sections of an episode.
Dave Jackson
So 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 Jackson
Well, if we have to change the way we're doing things, then we can also reevaluate our implementations for these other things.
Dave Jackson
And one of the ideas that I really like is where.
Dave Jackson
Now, 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 Jackson
We'll just call it like a payment destination.
Dave Jackson
And a payment is sent to that single destination, and then that destination handles where the splits go.
Dave Jackson
And it could even be possible that that destination could receive multiple types of payment.
Dave Jackson
So let's just throw this out there.
Dave Jackson
It could receive satoshis, which are small portions of Bitcoin.
Dave Jackson
It could receive Ethereum, maybe other kinds of cryptocurrency.
Dave Jackson
It could receive a PayPal payment.
Dave Jackson
Maybe it integrates nice with Vemo and Stripe and other things like that.
Dave Jackson
Now, how technically possible that is, I don't know, but that's what I'm talking about.
Dave Jackson
That could potentially be built into this, where it's then this one universal end point where it's like, send your money here.
Dave Jackson
We'll figure out how to actually convert that and use it.
Dave Jackson
I think that's a much better approach to this.
Dave Jackson
And that's the kind of thing that people are talking about because we're having to throw out the old models.
Dave Jackson
Old models.
Dave Jackson
This is all brand new.
Dave Jackson
So it's.
Dave Jackson
We can't really call it old.
Dave Jackson
We just can say the current model rather.
Dave Jackson
So we have to look at this.
Dave Jackson
It's like a door is closing.
Dave Jackson
And instead of just trying to look for an open window or build another door, we're saying, you know what?
Dave Jackson
As 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?
Daniel
And it is.
Daniel
It's amazing that it works.
Daniel
But 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.
Daniel
And now looking back, I go, but did that complicate things?
Daniel
Like, we haven't really got full adoption of the streaming sats in the first place, and we're already adding more complexity to it.
Daniel
And I'm like, I mean, I really do.
Daniel
I love the idea But I'm like, maybe not.
Daniel
You know what I mean?
Daniel
It's like, maybe it should just be here.
Daniel
Here's 20 bucks for the band.
Daniel
You guys argue about it.
Daniel
The drummer is going to get less.
Daniel
That's just in the handbook.
Daniel
But it'll be interesting to see.
Daniel
Can we take all this progress that we've done with the splits?
Daniel
Because I really do think is that the magic switching wallet where splits came in for something that was magic.
Daniel
So I don't want to get rid of the magic.
Daniel
But it might be one of those where we have to step back and go, maybe we come back to this later.
Daniel
Let's just get it working now with just sending a payment and then later we can figure out what to do with the splits.
Daniel
We'll have to see.
Daniel
But I haven't looked at the.
Daniel
Because I'm not going to understand it anyway.
Daniel
The thing that Oscar made.
Daniel
But 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.
Daniel
So that'll be fun to see what comes about.
Dave Jackson
And 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 Jackson
And let me self promote here for a moment.
Dave Jackson
Podgagement.
Dave Jackson
So has the new charts and rankings feature that I started building that five years ago.
Dave Jackson
That's why my chart data for POD gaugement goes back five years now.
Dave Jackson
The way that I stored all of that data for all of these years was not the best way.
Dave Jackson
So it's taking a long time to convert all of that data over to be usable.
Dave Jackson
But that code that I made five years ago, I look at that now and it is horrible.
Dave Jackson
It is embarrassingly bad, but it's getting the job done.
Dave Jackson
It's been working for five years.
Dave Jackson
But 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 Jackson
And I made it work well.
Dave Jackson
Now I've learned a whole lot more since then.
Dave Jackson
I've observed a lot more different ways of doing things.
Dave Jackson
I've learned better practices.
Dave Jackson
Even just the file structure of these different files that are parts of my whole program, it's a mess.
Dave Jackson
But I have a much better structure now.
Dave Jackson
So 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 Jackson
You.
Dave Jackson
You build it rough.
Dave Jackson
It'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 Jackson
I know some people hate the gaming industry for doing this, though, where a lot of companies release games that basically aren't finished.
Dave Jackson
The games of our days, Dave, when we played video games as kids, you got it.
Dave Jackson
And 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 Jackson
There were no DLCs, there were no patches.
Dave Jackson
The companies had to make sure the game worked from the start.
Dave Jackson
Now, the games were a lot simpler back then, so it was easier for that.
Dave Jackson
But, 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 Jackson
Sometimes it's just unanticipated stuff, untested stuff.
Dave Jackson
Sometimes 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 Jackson
Like we do sometimes in podcasting, where we just record a horrible show and think we can fix it up in the editing.
Dave Jackson
Sometimes you can, sometimes you can't.
Dave Jackson
But 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 Jackson
Do we really want to be tied?
Dave Jackson
And the bitcoin idea, regardless of whether we use bitcoin and satoshis, does the audience need to know it's bitcoin and satoshis?
Dave Jackson
Could we instead just talk about credits or tokens, even though it might be exactly the same as bitcoin?
Dave Jackson
So maybe instead of satoshis, like, maybe we say a credit is worth a thousand satoshis.
Dave Jackson
So 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 Jackson
That 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 Jackson
Because 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 Jackson
None 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 Jackson
And some people are afraid of bitcoin, whatever reason.
Dave Jackson
We could call it anything else.
Dave Jackson
Like James Gridland talks about it, like Internet tokens or kind of like circus tickets or fair tickets.
Dave Jackson
We could call it anything else.
Dave Jackson
And 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 Jackson
We could move beyond that, and I think we should, so that they don't have to think about the underlying technology.
Dave Jackson
It's just like when we send each other money, we don't really think about how it's converting.
Dave Jackson
Or 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 Jackson
It's pretty much straight from my bank account to your bank account via this other technology.
Daniel
Yeah, that's what we're aiming for, I guess.
Daniel
The other thing I just wanted to kind of say for anyone who's.
Daniel
I know for a while when we didn't hear anything, we kind of knew this wasn't going to work.
Daniel
And they were like, okay, well, what are we going to replace it with?
Daniel
And nothing really came about.
Daniel
And then nothing can.
Daniel
You know, people are busy, it's that time of year.
Daniel
And so I could see where I was even kind of going, ooh, maybe this particular part of 2.0 isn't going to work.
Daniel
And if you think about it, you made a great point.
Daniel
When 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.
Daniel
Why?
Daniel
Because I didn't know if I needed them or not.
Daniel
And I might.
Daniel
I don't know if they're going to build a Dave Jackson library or something in the future.
Daniel
60 Minutes is going to call.
Daniel
I don't know what I was thinking, but I was like, no, I need a wave version of this.
Daniel
And I look back now and go, why?
Daniel
Why did I do that?
Daniel
And because you didn't know.
Daniel
You're like, well, I want to keep this in case I need it.
Daniel
And now once I finish an episode, I Keep the finished MP3 and the rest is out the door.
Daniel
I'm like, I don't.
Daniel
You know, I've never once had to go, oh, wait, I need just the recorded version of me from episode 72.
Daniel
No, I don't need these anymore.
Daniel
So this is kind of one of those times when we look back and go, oh, you know what?
Daniel
Maybe we don't need this.
Daniel
We thought we needed it, but we don't.
Daniel
So 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.
Daniel
So that's the other thing.
Daniel
I was like, okay, this is just.
Daniel
It's just a little learning curve, a little speed bump, you know, that we go, oh, yeah, we thought that was going to work.
Daniel
And then it didn't.
Daniel
So we then switched to that.
Daniel
So you can think of it as you're living through history right now.
Daniel
And the other thing I noticed, it's going to be annoying.
Daniel
A lot of people are going to complain, but I know, is it.
Daniel
I want to say Verge.
Daniel
Is it Verge or Verve when we talk about the online.
Dave Jackson
The Verge.
Daniel
Yeah, the Verge.
Daniel
Okay.
Daniel
They have announced that they're going to go behind a paywall, and so is Bloomberg.
Daniel
So all the great podcasting articles about from Ashley Carmen, they're going behind a paywall.
Daniel
And I'm kind of like, I don't really want Bloomberg.
Daniel
I just want, like, can Ashley go solo on Substack or something?
Daniel
To where I just.
Daniel
But I saw that I was kind of like, oh, man, another subscription.
Daniel
And I'm like, I think that's just the way things are going to go.
Daniel
We're going to get nickeled and dime to death.
Daniel
And the things you want, you'll pay for, and the things you don't, you won't.
Daniel
But at least the idea of, hey, maybe you should pay your podcast or something hopefully won't seem like such a foreign idea.
Daniel
As opposed to, well, they're supposed to be free.
Daniel
It's like, no, no, you pay for things that you value.
Daniel
And 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.
Daniel
So I'm hoping that kind of spills over into the mentality as we start to move this way when people Go.
Daniel
What do you mean?
Daniel
I have to get a cash app account or strike or whatever it is.
Daniel
It's like, no, this is how this works.
Daniel
And those that want to pay will go through the extra steps, and those that don't, well, even right now, I like Castamatic.
Daniel
That's one of my faves.
Daniel
Right now I'm using Podcast Guru, but the developer of Castamatic is in Italy.
Daniel
And Strike, one of the things used in the proposed solution isn't available in Italy, so he can't even test his app.
Daniel
So that's going to be, in a way, as you said earlier, okay, that's a closed door.
Daniel
That means I want to say Frederick or I forget the developer of Castomatic.
Daniel
That guy's going to have to find something different.
Daniel
And so he might end up coming up with a completely different solution that's better.
Daniel
So 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.
Daniel
You know, you go back and find a different way outside of the maze.
Daniel
So it'll be fun to watch.
Dave Jackson
Yeah.
Dave Jackson
And 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 Jackson
Like 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 Jackson
And 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 Jackson
But when the streaming satoshis and booster grams did come out, then they did start supporting that.
Dave Jackson
And their audience, even though they don't get super techie, their audience still started giving them money because they were using this thing.
Dave Jackson
And 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 Jackson
It's like, we've proven that there is a need for this.
Dave Jackson
There are ways to do this.
Dave Jackson
We've had success with a way.
Dave Jackson
Now we have to find a different way, and we will find a different way.
Dave Jackson
And I think it will end up being a better way because we've gotten phase one out.
Dave Jackson
We've discovered new ways of using it.
Dave Jackson
We've discovered new needs that whatever has to accommodate.
Dave Jackson
So I think it will become a whole lot easier.
Dave Jackson
The 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 Jackson
The biggest hurdle is not the percentage.
Dave Jackson
A percentage is fine.
Dave Jackson
Percentages, I think, are good, like a.
Dave Jackson
A fee, a percentage of whatever is being given.
Dave Jackson
A percentage fee is taken out.
Dave Jackson
That's fine.
Dave Jackson
What's not good are some of these systems take also an additional flat rate on top of that.
Dave Jackson
Like PayPal and Stripe are close to 50 cents per transaction, plus the percentage fee.
Dave Jackson
So if someone, for example, wanted to give 50 cents to every podcast episode that they listen to, that's just not doable through PayPal.
Daniel
Right?
Dave Jackson
And 50 cents, I know that is tiny.
Dave Jackson
Yes, I know that.
Dave Jackson
But 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 Jackson
This is where the real concept of value for value is.
Dave Jackson
It is not in streaming satoshis.
Dave Jackson
It's the mindset.
Dave Jackson
It's, I value this thing I'm getting, therefore, I want to give something of value back.
Dave Jackson
We'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 Jackson
Like, just recently, Overcast Marco announced that he was raising the price of Overcast, raising it by 50%, which is $5 a year.
Dave Jackson
So it's going from $10 a year to $15 a year.
Dave Jackson
$15 a year.
Dave Jackson
And do you know how many hours Overcast runs on my device?
Dave Jackson
Yeah, I mean, we're talking.
Dave Jackson
I get thousands of hours of content from Overcast per year.
Dave Jackson
Is that worth $15 to me?
Dave Jackson
Yeah, it's worth more than that.
Dave Jackson
So 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 Jackson
And 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 Jackson
And maybe even if they can see, oh, I can give just 50 cents an episode, I can spare 50 cents an episode.
Dave Jackson
And like even me, and I've referenced before, cash flow is just an issue right now.
Dave Jackson
But even me, when I think about, could I give just even just 50 cents to each podcast.
Dave Jackson
I listen to 50 cents a month even to each podcast.
Dave Jackson
Yeah, I can do 50 cents.
Dave Jackson
You know, that's just shake out my couch every month, and probably more than that will fall out of it every month.
Dave Jackson
I 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 Jackson
But this mindset is what we need to train our audience.
Dave Jackson
But not even saying, hey, give us 50 cents, but leaving it open.
Dave Jackson
And this is again, the concept of value for value is what is this worth to you?
Dave Jackson
And would you want to consider, can you give that back if it's been worth that to you?
Dave Jackson
To some people?
Dave Jackson
Like, 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 Jackson
And 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 Jackson
Some people were paying us $100 a month for a free podcast about a free TV show.
Dave Jackson
And 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 Jackson
It'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.
Daniel
It'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?
Daniel
And I'm like, well, yeah, you put.
Daniel
You put a lot of time and effort into it.
Daniel
It's worth something.
Daniel
I know.
Daniel
The thing I love about at least you mentioned the no Agenda show is the insane back catalog they have.
Daniel
So 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?
Daniel
And within seconds, Adam has this clip.
Daniel
And that's just something the mainstream media doesn't do.
Daniel
They don't hold themselves accountable.
Daniel
But John and Adam do.
Daniel
And they're like, yep, that's what he said.
Daniel
That's the direct opposite, or whatever it was.
Daniel
So.
Daniel
And that, to me, is valuable.
Daniel
I'm like, oh, I'm not getting this in mainstream news or even on some of the kind of specialty news shows.
Daniel
I'm like, I just don't get that kind of information.
Daniel
So I know I'm set up on PayPal to give them a certain amount of money.
Daniel
Every now and then, I'll send them in a boost I need to claim my knighthood.
Daniel
I'm actually a knight.
Daniel
I guess I'm a silent knight at this point because I've never sent in money and going, hey, I want my ring.
Daniel
And then that whole nine yards.
Daniel
So, you know, we're going to have to be patient.
Daniel
I know it's only till January when Albie will close.
Daniel
Hopefully, you know, this will be put in place.
Daniel
That's going to be the.
Daniel
The 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.
Daniel
And then the apps are going to have to update.
Daniel
And then I would believe media hosts like I know Captivate has a place where you put in your information.
Daniel
I'm assuming that's going to have to change to connect to this new style of receiving payments.
Daniel
So we're all going to kind of have to scramble.
Daniel
And it may be that in some cases, not everybody gets updated by, like, your wallet might break for a small amount of time.
Daniel
Hopefully small, where not everybody can meet the deadlines.
Daniel
Because, look, it's the holiday season.
Daniel
We all have lives and most of us that work in this space have other jobs.
Daniel
So it's going to be interesting to see.
Daniel
So if I was an AI person, I would say to strap yourself in.
Daniel
It's going to be maybe a bumpy road, but we're going to have to do a deep dive into the new technology.
Daniel
You know, every time I say deep dive now, I'm like, oh, I'm so AI.
Daniel
Ugh.
Dave Jackson
But you know what's not AI, Dave?
Dave Jackson
If 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?
Daniel
I 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.
Daniel
Yes.
Daniel
That's not a typo consulting with me.
Daniel
And 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.
Daniel
Daniel, do you know of anything that could do that?
Dave Jackson
Absolutely.
Dave Jackson
Go to pod gagement.com now with charts and ranking features and SEO tracking features coming soon too.
Dave Jackson
So think podcast engagement.
Dave Jackson
You want podcast engagement, you want to grow it and improve your podcast and grow your podcast?
Dave Jackson
Go to pod engagement.com so speaking of.
Daniel
Satoshis and all that fun stuff, Dino, do we have any boostograms?
Dave Jackson
We did.
Dave Jackson
We got two boostograms.
Dave Jackson
Thank you very much.
Dave Jackson
Especially since this might be a dying breed, the boostogram thing.
Dave Jackson
No, no, Boostograms aren't going away, but method might change.
Dave Jackson
We got a boostogram from Randy Black, 1000 SATs.
Dave Jackson
He said another great podcast.
Dave Jackson
Keep up the great work, guys, and go podcasting.
Daniel
Excellent.
Daniel
Thank you, randy.
Dave Jackson
Also, we got 777 sats from Steve Webb, Sir OG Godcaster, who said, love the show, guys.
Dave Jackson
Thank you.
Dave Jackson
We love you too.
Daniel
Absolutely, Steve Webs.
Daniel
That is an OG right there.
Daniel
He goes back to that was the very first whatever it was new media something expo with the podcast brothers.
Daniel
Because it was Tim Berkwin's.
Daniel
We'll dust off 20 year knowledge.
Daniel
There was a guy named Tim Berkwin and Amir.
Daniel
They were the podcast brothers.
Daniel
And they were the guys that held kind of the first big podcast meetup.
Daniel
It was in I want Ontario.
Daniel
Doesn't sound right, but maybe that's.
Dave Jackson
Yeah, that's what everyone talks about, Ontario.
Daniel
Okay, there you go.
Daniel
Well, you know, it's 24 years old now.
Daniel
The memories aren't quite as clear as they used to be.
Daniel
So 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.
Daniel
But here's what you can do if you want.
Daniel
You 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.
Daniel
Daniel mentioned that when the show first started, it wasn't called the Future of Podcasting.
Daniel
You can go back to the very first show, although that would be bad.
Daniel
But you could and cherry pick our old episodes there if you want to while you're waiting for another episode to come back.
Daniel
So what we can do at this point, it's almost a dad joke.
Daniel
It's so bad.
Daniel
You know, we'll see you next year.
Dave Jackson
Get it?
Daniel
Because in January.
Daniel
Yeah, okay, excellent.
Daniel
But I think that's going to do it for episode 54 of the Future of Podcasting.
Daniel
Everybody have a Merry Christmas.
Daniel
I always say.
Daniel
Happy Kwanza, Massaca.
Daniel
I think that covers everybody.
Daniel
And we will see you in 2025.
Dave Jackson
And a happy New Year.