The Need for §SatsTags
One of the best parts of Lolli, the leading bitcoin rewards app, is our community. Since we launched in August 2018, we have had the pleasure of building one of the best, most supportive communities on the internet. We engage with our community through Twitter, Facebook, Instagram, Telegram, Snapchat, and other channels to help educate people on bitcoin, share bitcoin-related news, host bitcoin giveaways, announce company news, and post bitcoin memes.
While we love giving away free bitcoin through Lolli and through our social channels, we are also dedicated to privacy. Identifying and verifying Lolli users on social media often requires additional steps to confirm one's identity, oftentimes via email address. We found this to be problematic for giving away free bitcoin on social channels, as users would have to DM us in order to receive their award. The Lolli team decided to streamline this process.
Today, we're introducing §SatsTags in an effort to put the power of your identity in your hands. No more need for email addresses as your identity. If you want to stay anonymous on Twitter but want to earn and receive bitcoin, you can choose to use your §SatsTag to verify your account and identity, and do so anonymously if you choose. It's totally up to you.
Anatomy of a §SatsTag
Simply put, your §SatsTag is your public name with a special symbol at the front. Think of it as your custodial bitcoin username that you can use anywhere. Example:
What is This § Symbol?
For those who don't know, 1 satoshi is equal to 0.00000001 BTC. As satoshis (aka sats) have become the standard denomination for bitcoin, the internet has been begging for a symbol, and now we have one. We believe the § symbol is the perfect symbol for "sats" and chose § for a number of reasons:
§ is for Sats
The squiggle (technically called a silcrow) is representative of a stylized "S," which stands for "Sats."
§ is Already On Your Keyboard
There is no need to wait for a new symbol to be added by the powers that be. We already have § on our keyboards. For example, in the United States:
It may feel strange on some desktops at first, but your fingers will adapt. Just like we learned to type SHIFT+2 for an @ in the early days of the internet, SHIFT+4 for $, or ⌘+TAB to switch apps. You'll be busting out § in no time!
Bitcoin is international! And so are keyboards. Some countries, such as the UK and Switzerland, have § built in to the left of the 1 key.
§ Traditionally Stands for "Section"
Much like a paragraph is a section or division of a document, a satoshi or "sat" is a section or division of a bitcoin.
§ Is Familiar But Different
We all know the $ symbol, but the $ is nothing but a reminder of an old and busted system, and it no longer represents new money. § represents the new age of sound money without straying too far from the familiar S-like symbol of old.
§ Has Precedence As A Digital Currency Symbol
Remember The Sims®? The Simolean, the currency of The Sims, was also denoted by §! We are repurposing a fun fictitious digital currency symbol used by over 200 million people but now for a real world use case: the standard unit of the world's soundest money.
How Lolli Will Use SatsTags
For our initial rollout, we are going to be using §SatsTags extensively with our giveaways on Twitter, Instagram, Facebook, and other social media platforms.
Want to get some free bitcoin (aka stack some sats)? Follow @trylolli on Twitter, watch for promotions, drop your §SatsTag in the comments, and hear those sweet sats fall right into your Lolli wallet. For even more opportunities to earn free bitcoin, be sure to follow us on Instagram, like our Facebook page, and join our Telegram group.
We will continue to add §SatsTag features to Lolli over time. For example:
- Sending and receiving bitcoin
- Referring your friends with your §SatsTag
- On-chain support
- Logging in with your §SatsTag
- Lightning integration
How Do I Claim My SatsTag?
It's first-come first-serve, so claim yours while you still can!
Much love, peace, and bitcoin to you all,
The Lolli Team
"The Sims®" is a registered trademark of Electronic Arts, Inc.