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Welcome to Podcast Answers, the show where I help people start and grow their podcast,

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answering any questions about podcasting along the way. That's right, I'm here to help you

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start and grow your podcast.

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Today is going to be a little bit different. We normally talk basics and all sorts of things

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about podcasting, but this today is still is about podcasting, but it's more on the

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geeky side. That's right. We are going to be talking about value for value, what it

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is.

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Is it dead? All sorts of things like that. But first, I want to remind you, I'm gonna

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let you know that E cam is currently on sale for the month of July. And if you're not familiar

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with E cam, it's the live streaming software that I use to do this show. It is I if you

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don't know, I stream this show to YouTube live as we record, you don't have to stream,

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you can just do it live.

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You can just record and that's, that's great. But E cam is what I use for that. It allows

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you to do overlays and bring in comments that allows you to do all sorts of different things.

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And so E cam is actually on sale for the month of July. So if you want to check it out, I

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would suggest going to podcastanswers.com/ecam. That's E C A M M with two M's. And it is a

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Mac software, but it is really, really great. So if you've not checked it out, definitely

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do that. It's again, podcastanswers.com/ecam, E C A M M. And it is they don't sponsor this

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show. They don't do anything like that. But it's just that as an affiliate link, I am

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an affiliate with them just because I believe in E cam because it's such an amazing piece

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of software that you can use to create your podcast and to go live and do all of those

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things that you want to do with your podcast.

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So with that, though, what is value for value? Let's talk a little bit today about value

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for value. And if you don't know what value for value is, it is, it's a, it's a topic.

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It's a idea that was coined by Adam Curry. Adam is one of the, I'm going to say the pod

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father. He's one of the creators of podcasting. I'm not going to give all credit to him. There

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was a collaboration with several people, but he did create help create podcasting. And,

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and he had this idea of value for value.

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And essentially what that is, is I'm giving you value by producing this show, but by putting

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out this show, this podcast answer show, if you find value in it, you assign some sort

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of value and give that back. And that can be time that can be talent. And that can be

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treasure. So those three T's and start by, by treasure is going to be the easiest one.

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That's a sign of monetary value to that is, is this episode worth $5 to you? Is it worth

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$10 for you? What about $500? And the idea is, I'm not going to tell you, yes, there's

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lots of different, lots of different platforms out there that you can use to monetize your

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podcast. And I'm not saying monetization. You can use Patreon, buy me a coffee, Apple

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podcasts, whatever to say, "Hey, give me 5, 10, $20 a month, whatever I want to support

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you." And that's great. Like I do that for this show. I have a buy me a coffee for this

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show. And it is one of the things that I like doing.

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Like it allows you as a listener to give back to me. It's one of the ways to give back to

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me. But with value for value, it's an open-ended deal. Because what you find is if you give

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a tier level, so 5, 10, 15, 20, etc, etc. You're limiting the amount that people can

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give. You're saying, "I'm only going to allow you to give me $10 a month." You're limiting

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that. So with value for value, that's going to allow you to say, open-endedly, "This podcast

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is worth $5 to me. $10, $20." There's an open-ended amount. And what you'll find is some people

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may only give $0.30, $1, whatever. But they may also give $300. And so you actually end

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up making more by not limiting it. And there's the other two T's in there are time and talent.

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Time being, you're going to give your time back to it. Whether it's talking about the

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podcast to people, or if it is telling people about the podcast, being your marketing department,

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if you will. It's also putting in... It's time. Anything that you can give back to time

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is what it is. And so what talent is then is... Let's say you're a creative person that

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you can do art. You may be designing cover art for the episodes. You may be doing all

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sorts of different things for the episode. And then... So that's another way to give

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back your talent with that. So what value for value is and what a lot of people are

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referring to when they say value for value is streaming Satoshi's. And so one of the

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things that has come up with Podcasting 2.0 is this idea of streaming Bitcoin. And it's

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a cool technology. It allows you to play the podcast. And as you're playing the podcast,

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it allows you to send small micropayments, which you can't do with things like Patreon

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or PayPal or Stripe or whatever.

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You can't send sub pennies or pennies per minute because it just doesn't work out. But

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with Bitcoin and Satoshi specifically, you can stream small, small, small amounts of

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value back to the podcast or as you're listening or as you're going about and boosting. So

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that's what a lot of people are referring to as in... As value for value when they're

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talking about is value for value dead. And so what I've seen a lot lately is they...

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People are saying is... I've seen several episodes. I've seen in and around podcasting.

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I've seen the future of podcasting episodes. They're all talking is value for value dead.

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And so I thought I'd weigh in a little bit on that today. So no, as a concept, value

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for value is not dead. Value for value as in time, talent, treasure is not dead.

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But there are issues right now with Bitcoin. And here are some of the issues that I see

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about it. It's not... People are not so comfortable with Bitcoin yet. It's not... Yes, they are

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becoming more and more. I remember when I first heard Adam and Dave talk about the concept

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of streaming Bitcoin, I was a little bit hesitant. At that point, I said, "I don't know that

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I want anything to do with this." Now, I've played around with it because it's fun. And

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I don't necessarily have loads and loads and make loads and loads off of this podcast.

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But I did make some. And so people are still starting to become comfortable with it. But

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they're not comfortable. It's not the same as having just pulling out your credit card,

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typing your credit card numbers in and donating to a show. It's also not that easy. So it's

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not even a comfortable level, but it's easy of use. Now, it is becoming more again. So

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apps like TrueFans have allowed you to basically... They have an integration where you can say

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with Apple, you can just click and say you want to top up your wallet, and it'll take

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your US dollars or whatever dollars and convert them into Bitcoin and bring them in. But most

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apps are not that easy.

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Now the other thing that I'm seeing issues with it are regulations. And I'm going to

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specifically say regulations in the US, because the US are starting to create regulations

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about Bitcoin and what it means to have a wallet where somebody else holds your wallet

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instead of yourself, because then you become a money transmitter. And that's a whole...

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You need to have licenses and all sorts of things like that. So all of these services

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that have popped up around streaming Bitcoin and holding wallets and things are now starting

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to freak out a little bit because they can't be your wallet provider without having licenses

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and regulations.

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And so they're pulling back out of it. And one of the problems with that is, because

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it's a little bit hard to do, harder to do, it's not impossible to do it. But if you're

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holding your own Bitcoin node, that's really geeky. And most people, that's not something

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that they even want to try.

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And so there are different services that you can use to hold your Bitcoin wallet. And again,

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I told you this, this episode is going to be really, really geeky. But one of the services

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is the service that was really easy to use, became the centralized service for most things.

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The apps used it as their back end. A lot of the apps used it for their back end to

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send the money to and from where you as a listener could have a wallet and you as a

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podcaster could have a wallet.

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And it made it really super easy with really easy web calls to send this programmable money,

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these Bitcoins, these Satoshi's. And so because there's... We were relying on really almost

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one Albi service. Albi is the name of the service and they are getting worried because

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of these regulations. They are pulling out of this, of doing these wallets. And so these

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hosted wallets.

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And so what it really comes down to is, is value for value dead? No. Time talent treasure,

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not dead. But the idea of streaming Satoshi's does have issues right now. And there are

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some things in the works and we'll see how that shakes out.

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But again, we're having to switch and we're having to move things. And again, this is

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all what we're calling running with scissors. I mean, this is not mainstream again. This

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is a whole new concept is we're just getting people used to listening to podcasts now.

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I mean, podcasting has been around since 2005 and it's 2024 and people are just starting

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to get used to this being mainstream. And now we're throwing this idea of sending as

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we're listening, sending money back and support back to the podcaster, which I think is great.

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I mean, if your podcasters are going to be able to make a living or not, maybe not even

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make a living, but have some money, they get some something back for doing this.

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So it's time, talent or treasure from the listeners. They're going to be more likely

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to continue on in the future. And I would rather have listeners support my show again,

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because I think that when you have advertisers, people tune out to advertising and then you're

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tempted to add more and more advertisers to get more and more money.

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And so if you leave out those advertisers and you actually have your people support

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you, the people that are listening to you, it's more like you're gonna have a better

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show. Your show quality is going to be better because you're less likely to just be tempted

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to keep adding on advertisers. So those are my thoughts. That's what I think about value

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for value. I think it's a great idea as an addition to things for those of us who are

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geeky and want to play with it.

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I think it's great to do it, but I'm not relying on that. I do have a buy me a coffee. And

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if you want to check that out, you can go to podcastanswers.com/buymeacoffee and you

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can support this show there. You can support this show in a modern podcast app too. If

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you're listening to it on a modern podcasting app where you're streaming satoshis, you can

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listen to it and there you can support me there too.

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But again, if you're not comfortable with that, if you don't have that app, podcastanswers.com/buymeacoffee.

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If I've given you any value for this show, I ask that you assign a number back to that

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and give it back to me. Well, again, that could be time, talent or treasure. Just assign

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a sign of value and get in and give that back to me. Show me your support.

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So that is a tough topic. It's a long topic. It's a geeky topic. And I think that we're

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all exciting. We're in an exciting time with this new podcasting 2.0 things where we're

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allowing lots of new features to come to podcasting that have not been there traditionally.

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But some of the things I think are still developing. I think they're coming along. I think that

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they're going to be some awesome things in the future. But right now we're just trying

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to deal with lots and lots of new things.

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Bitcoin is new. Streaming Bitcoin is new. And so it's just going to take a little bit.

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Now, guys, this show is going to be off for a few weeks. I have a couple weeks of vacation

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that I'm going to be I'm going to be traveling in and out. And so I will not be doing this

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show while I'm on the road. I'm not taking this show on the road. But if you if you so

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just know that I will be back when you see no episodes here in the next two weeks, I

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will be back.

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But if you need any podcasting consulting, I'm more than happy to do that. And you can

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contact me by going to podcastanswers.com/contact. And I will that'll allow you to contact me

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and I can do a one on one session with you about podcasting about streaming and creating

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video with Ecamm.

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So guys, I just ask that you Yeah, you come back. Hold on. We will be back shortly. Thanks,

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guys. Have a great week and keep podcasting.

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(upbeat music)