Nostr Web Client

Derek Ross 2y ago 💬 60

**Fold has removed the Metaverse from their app**

The Metaverse allowed for players to earn 200 sats a day and 3 spins per day. While the sats don't amount to all that much, the spins here were the real prize from this daily game.

Fold doing away with their Metaverse game hits hard. Power users relied on those 3 additional spins for large purchases. They would always make sure they had 3 spins in the bank from the previous day and then 3 spins from the current day before making a large purchase.

It seems that every 3-6 months or so, Fold users have to completely rethink their strategy.

The current strategy is to buy bitcoin through Fold and earn spins that way. However, for this all to work out, Fold users need to time their DCA together with their large purchases.

If you're a Fold user, how does this change make you feel? I'm unimpressed at the moment. I guess that means I better get back to building.

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Discussion

It was a gimmick and distraction. Good riddance.

Derek Ross 2y ago

It was a gimmick, Fold itself is a gimmick with their spinning wheels and chances at high reward. I just paid a large bill and got 3% back or 208,000 sats. I kind of like the gimmick.

PayPal bill payment on mortgage and credit card bills is huge for me. That effectively gives me 1-3% extra back on my entire life.

Barely did the metaverse thing. It was kind of obnoxious to play. If it was actually fun it might be a different story.

Derek Ross 2y ago

I outsourced the game to my kids 90% of the time.

Derek Ross 2y ago

😂😂😂

yunginter.net 2y ago

zebedee should bounty a Minecraft server plugin nostr client that replaces sus Microsoft chat with a nostr channel

Check out Sovtoshi on twitter. He is integrating lightning into Minecraft.

Derek Ross 2y ago

oh really... my kids have moved on from Minecraft to Roblox, but that's pretty damn cool still.

https://youtu.be/BEsfFDPtCng

Derek Ross 2y ago

Now that's a hell of an idea.

yunginter.net 2y ago

the question is does it need a dedicated relay (one can host all the different servers channels) but that purges daily/hourly, and just assigns a new key pair on server log in?

Kinda like how http://sendstr.com/ works

So very true.

This is the way. (My kids to young to “hire” to mine)

“Outsourcing” child labor.

https://giphy.com/gifs/reaction-ben-stiller-threat-zXXHXvwnnwy9W

Are they happy or sad the game is gone? 😜

Derek Ross 2y ago

my son was a bit upset to be honest. he's the one that showed me it was gone. he was going to play for me to get spins for me.

And what exactly was it in Beta for? 😂

Just give us more spins! Keep the sats. 😃

DevilishLemonBar 🦥⚡🏳️‍🌈 2y ago

Never liked it to begin with.

The Daniel 🖖 2y ago

Not sure it’s worth the annual fee if I can just do round-ups and DCA on CashApp. The gift card sats are nice, but you have to buy a bunch of them to make back the cost of membership.

The only thing making it worth it IMO is the PayPal bill pay. Getting % sats back on mortgage, utilities, car payment, credit card payments, etc.

The Daniel 🖖 2y ago

Yeah, I need to take advantage of that more. Maybe it will end up being worth keeping just for that. I was a Fold user back when they were only converting BTC to Starbucks gift cards.

corndalorian 2y ago

I tried Fold for about a year and was always unimpressed. The PayPal bill pay thing wasn’t something I could use. From the long-promised instant funding that was lackluster and slow when finally launched, to the constant struggle to try and outpace the yearly fee with my rewards/spins on purchases, I found my experience with them to be a big hassle and not worth the time or money spent using their service. I canceled when the changed their Spin+ fees a few months ago and I haven’t looked back.

Derek Ross 2y ago

The instant funding, is instant, but now you can only instant fund 3 times a month for free. I get why they do that. They need our funds in their partner's bank account. If we hold in our own account until we need a bill paid, then they don't get to invest our funds as banks do. I get it. It's just one gimmick after another that annoys me. I love the sats back on things I'm already going to have to pay though.

corndalorian 2y ago

It’s good that reliability got better with instant funding. When they first rolled it out I had multiple instant debit deposits get delayed before showing available. But yea the 3 per month limit is a perfect example of the kind of silly limits they put in place. I felt like they were quick to make changes that were best for Fold, not necessarily best for Customer. I just found it to be a hassle for my usage. Any extra sats are a good thing if it works for some people.

Why instant fund for only $500 though.

I will keep using FOLD because I do well personally but those 3 extra spins were a major swing.

It does seem like more is being stripped away. Not sure why.

Delta, Dirac 2y ago

There entire company is a LARP. Pointless product that does absolutely nothing other than pull venture dollars that might otherwise fund non-moronic things, but people like being performative around their "bitcoiner identity". Like sports fans. Yuck. Glad you saw through it!

I got rid of fold a couple years ago

Derek Ross 2y ago

Did you replace it with anything else?

Nah

My problem now is that I can’t resist buying bitcoin with my direct-deposit $$ every 2 weeks. Since I never get to spin anymore, I’m buying $20 worth whenever the price dips a bit. Probably screwing my self on the exchange rate and everything! But it’s fun and I can’t seem to stop now 😂

Derek Ross 2y ago

It sounds like you would love Stackchain, if you haven't heard of it. It really only exists on Twitter right now. It's a bunch of bitcoin plebs smash buying bitcoin all of the time. It's tons of fun and it makes you stack hard.

I smash buy on FOLD as well.

My direct deposit buys are through strike.

I’ve found fold and strike to be my simplicity for the time being in lieu of exchanges.

Derek Ross 2y ago

I used to direct deposit to Strike but changed to Fold recently so that I can get more spins.

I use fold to pay bills and strike to buy 🌽

Oh I lied. I do direct deposit to FOLD just $100 for that spin.

It’s weird that FOLD delays like 3 days vs Strike which actually does buys the night before my payday.

I really like strike. If their new card has some sort of sats back then I am dropping fold

Derek Ross 2y ago

Pending how it works, I might be in the same camp. The constant changing of how the "game" works is annoying. I don't mind playing a game but the rules being changed as we're playing it is annoying.

Strike is great. DCA.

I feel like one advantage with FOLD that I can’t ignore is my mortgage % back and any credit card bills back.

If I wasn’t using it with those two via bill pay I don’t know if it would be worth it.

Fold is good for earning sats when you buy/pay bills.In fold,"price per bitcoin" changes significantly depending on $amount you buy.For ex: I just quickly checked.For 1$, "price per coin" is $16700, and for $100, "price per coin" is $16800.Also,it takes 7 days to withdraw btc

Derek Ross 2y ago

3 days for withdrawal.

Right. Three day hold then it processes in evening of the withdrawal from my experience.

Tatum Turn Up 2y ago

So Mat explained the ins and outs and while I liked it a lot too, it was never really “fully complete” I think, and it made the app massive too. I will miss it, but I don’t think it was overall well received. I could be wrong on all of that tho.

Derek Ross 2y ago

Right. He said that usage was only a small subset of their community, the power users.

Tatum Turn Up 2y ago

WE WERE THE POWER USERS 🤘🏼😔

boston wine 2y ago

Exactly 😕 those extra spins were clutch when it came to larger bill payments. Raising chances of 2-3% makes a big difference… gonna have to be more judicious about when I use Fold for larger transactions

Also, followed 🤝

I did notice for IPhone after IOS 16 the game got bogged down. Glitchy.

Hoping there is some perks added as the rewards have been reduced.

Guess we will see.

Glad to see them moving away from shitcoin-y terminology and unnecessary time spent in the app… would rather other ways added to earn extra spins.

eb876d2a... 2y ago

U can buy bitcoin on the Fold app?

Derek Ross 2y ago

Yes. They launched it maybe two months or so ago.

SURF⚡️ 2y ago

Never liked the metaverse game at all but as a way to increase your stack it worked. Also don’t dig the 24 hour spins - The 7 day spins they originally had were the best. Feels as though stacking potential has decreased a lot over the past year but still can’t find a better alternative.

Used to love the new wheels they’d have all the time and the days landing 3-4% back was almost a guarantee. Remember the Taco wheel?

Derek Ross 2y ago

Yaaaaas. The 7 day spins were so, so much better. I assume they were losing out big. Almost all of my spins on large purchases were 3-4% like you said.

SURF⚡️ 2y ago

100% - even back then we all knew they couldn’t keep it up as the sats back were too good.

That Cinco de Mayo 🌮 wheel was a guaranteed 5% back the entire day. Incredible. Gimmicky but fresh and i’ll roll with gimmicks if it gets me sats. But yeah, good riddance to the Metaverse game.

Not very happy about this. I was a daily user! Will miss the 200 sats and 3 spins. Any idea what they will focus on next??

Derek Ross 2y ago

Sames. And, I don't know? The announcement said they were going to use that development to focus on other more useful things.

Lots of people want a credit card, but i honestly see no added value in that. ACH spins is probably a no go, ever since the wonderful PayPal workaround…

bitcoinbubby 2y ago

You still have an advantage paying bills through PayPal bill pay and getting sats back that way. I put everything on a cc. Pay the cc bill with my fold card and get double rewards. Pay my car bill. Get rewards on that. Never could do that before. Or with utilities.

Sad day