It's completely public and can't be tampered with, so you can check exactly where the money is going.
Btw. most people people who don't know Chinese will think "Hong Bao" is some guy. Bad branding for what it's trying to do. Gives the wrong impression that we're giving away money to some guy named "Hong Bao" who's promising to give it to Wikipedia and EFF
Except the page admits there will be a delay of a month before the proceeds go to the EFF, and that transaction is NOT on the blockchain, as the wallet is "sold" and the money is, perhaps, donated to the EFF. So you can't actually check.
The main problem is that the EFF doesn't have a publicly disclosed Eth address (they do accept BTC) so I just decided to support them by pledging to donate to them. Of course, nobody on the internet knows you're a dog, nor if you're honest ... :/
[1] https://blog.altcoin.io/the-first-ethereum-bitcoin-atomic-sw...
If they don't give it to creators...the creators won't promote them.
They need the evangelists.
I think an interesting point is to compare the fee to what GoFundMe and other similar sites are charging.
My motivation was mainly to make a competitive version that took advantage of Ethereum's native advantages:
- It's Global. You can use GiveHongBao anywhere in the world. You can't use GoFundMe unless you're in the western world
- It's direct. Your donations go straight into your wallet. You don't have to wait for a minimum donation size, nor do you have to wait for a certain time.
- It's cheaper. Ethereum transfers are a flat fee regardless of size (vs. credit card processing fees). I thought a fair thing to do would be to mirror this and charge only a flat fee (for hosting, etc..) then pass the savings on to campaign creators.
I don't think is the Ethereum gas (transaction fee). I think they take a cut as well. Perhaps someone can check the transaction being generated and see the recipients/gas? This whole thing looks very shady and probably shouldn't be getting HN-like exposure.
> Each month I'll sell the wallet's contents and donate the proceeds to them, providing proof via my Twitter account.
There are too many scammers out there, there's no reason to trust this person, regardless of what the intention was.
The fee is flat and priced around a buck, mostly to help recoup some server costs, hosting costs, etc.. which I thnk is fair.
My main motivation was to make a cheaper version of GoFundMe or Patreon. Both of those sites charge a percentage on top of whatever credit card fees.
If you want to create a campaign (free of charge) visit: https://givehongbao.com/create
it's kind of like the Chinese equivalent of Christmas presents ...
Since then, I've just mostly been putting polish on it (testing, more refinements) mostly around making the app more responsive.
Happy to talk more about it-- it was a fun project that pulled together a lot of threads (Solidity, React, Web3, Infura, etc..)
I also wouldn't have any idea on how to build up the actual smart contract "system" that your API talks to, so any insights on where or how you learnt all of this would be pretty awesome.
Most of the examples I've seen are not that beginner friendly.
