Our project is simple: every business in the world will be able to set up a loyalty Jar at our website to collect bitcoin TIPS. The Jar owner chooses the Jars capacity and describes amount of goods or services available for free at his place when the Jar breaks. The Jar breaks when the total value of the bitcoin TIPS exceeds the capacity. Free goods are then ready to be received and the Jar owner is allowed to withdraw all the TIPS. First customers who ask for a prize from the Jar will receive one thing for free unless different rules are established by the Jar owner at the Jars subpage. After that the fun starts over again!
The rest
I would like to share with you some of our projects details to let you understand the project more widely. I also want to inform that The Bitcoin Jar will not store any bitcoins at its website. Bitcoins will be stored on public addresses belonging to the Jar owners. We dont want to provide wallet service in the nearest future.
Project updates are going to be made at this forum and at our website. Please like us on FB and follow on Twitter. If you have any questions please post them here or contact us directly. We would love to hear the feedback from you!
Beta version
The Jar widget Each Jar has its unique widget which shows the current capacity. Every company will be able to copy the widgets code and to put in at its website. When a customer clicks on the widget, they will be moved to the Jars subpage, where the Jar owner describes the business and the goods that clients can receive when the Jar breaks.
Jars capacity Because of the bitcoin prices volatile nature, the Jar's owner chooses a capacity denominated in USD. It means that the current Jar's balance is expressed as: amount of BTC in the Jar multiplied by bitcoin's current price in USD, divided by the Jar's capacity in USD. [amount x BTC price / Jar's capacity]. Hence, the bitcoin price will have an impact on the current level to which the Jar has been filled up.
Jar subscriptions
Until a mobile application is developed, a Jar subscription mechanism will be available. The Jar's subscription is a function that allows anyone to subscribe to the Jars. Customers will only need to type in their e-mail address. When the Jar breaks, subscribers will receive an e-mail with information about the Jar breaking.
Everyone will be able to subscribe to an unlimited number of Jars, but the Jar owners are free to set up a subscription limit [0-X / no limit]. When the Jar subscriptions exceed the limit established by the owner, an e-mail will be sent to random subscribers in the amount set out by subscription limit.
Goods and services The Jar's owner specifies the amount and the type of goods to be available to customers once the Jar breaks. The Jar must contain only one kind of goods or services, which means that each of the customers will receive exactly the same goods when the Jar breaks.
Changes in capacity and the type of goods The Jar owner will be able to change the Jars capacity and the type of goods or services offered to customers an unlimited number of times. The new rules will come into effect when the next Jar is set up.
