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Saturday 21 March 2015

The Tsu Economy

A lot of the focus on Tsu has been on making money. Various other web sites have played around with this concept, but often in some made-up currency. Tsu uses US dollars, so you know exactly how much it is worth.

One of the issues for most people is that you can only take that money (via cheque or Paypal) when you reach $100 and that may take years. However, you can do other things with that money.

Firstly you can give some to other users. Any user can enable the Transfer Funds button on their profile page. I believe Tsu take 3% of such transfers.


The other option is to donate money to charity. There are a number of charities on Tsu. There have been various donation campaigns that have resulted in some of them getting hundreds of dollars. Of course the charities also earn money from their views and network like anyone else.


There's a list of charity accounts here.

A limitation of donations and transfers is that you cannot send less than a dollar, although some people seem to be able to send smaller amounts. I think there is some potential for small amounts to be used a 'tips', e.g. if you like a picture by an artist or a song by a band you can give them a few cents as you would to a busker or pavement artist. In the Bitcoin world there are sites like ChangeTip that do this.

There are a fair few musicians and artists on Tsu. Some offer the option to buy their work by transferring Tsu funds. As this is money you would not have otherwise it's almost like getting free stuff. Of course you still need to earn enough, but I expect they would all accept other payment methods. It's just that a Tsu transfer is very simple and has a fairly low transaction fee.

I have bought lots of music from bands via Bandcamp as that gets most of the money to the artist. Tsu could be encouraging a similar thing. I think they could go further in allowing artists to register themselves for extra features to allow them to manage orders more easily. e.g. providing a form to fill in order details such as the delivery address.

Tsu make a big thing of wanting to encourage original content. They can help this by supporting the artists better than other sites.

If you are not already on Tsu then please consider joining using my link at http://www.tsu.co/steevc

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