Why it is unlikely the £1000 reward can return


#21

I agree Phatt.One. Unless far more is paid in than is paid out it’s impossible to sustain as effectively money has to be produced from thin air. The small offers from a business perspective work fine as those providing those offers fund them and Sweatcoin can make money from a small commission as well as the bonus adverts but they will have running costs.

Troublemaker has caused a big problem as the moment people pay hard cash, however small expectation then increases. Again when membership was funded via coins it worked but would have hit problems when people started getting 20,000 coins and claiming the £1000 that wasn’t there.

I walk 15k steps a day anyway to keep healthy and will continue but unless something concrete comes from Sweatcoin very soon won’t continue on the Troublemaker level. I will also keep questioning where the £ subscription are going and what they are funding.


#22

Hmm. I see your view Dave but… sweatcoin has more then enough revenue to keep that £1000 cash prize. Now unless they’re getting 100+ users a week redeeming this £1000 prize Then I could understand. But I highly doubt there are that many people.

https://www.owler.com/company/sweatco

https://growjo.com/company/Sweatcoin


#23

Thank you for this post and your insights, thoughts and suggestions.

It’s true – without a partnership with PayPal (or the equivalent) and the addition of features which give you more sweatcoins (daily boost, Trouble Maker, higher daily reward ads etc) people will reach the 20k mark much faster and it’s definitely harder to hand out $1k prizes.

However, we also detected many more people than usual fraudulently trying to redeem these rewards, which of course might only increase as we introduce more ways to earn.

So it’s a tricky one from our side - if we raise the price of the $1k, people may feel upset or hard done by, but equally people may feel this way just because we removed it. Additionally, if we add lower cash prizes, the issue still remains - we have more users than ever and they are earning more than ever - so we need a feasible way to reward the users (which means brand partnerships!). Unfortunately, if we handed out nothing but PayPal rewards, there’d be no more Sweatcoin for anyone to enjoy :frowning: As well as this, just like many of our other offers which come and go, this is the same for the £1k…

It’s important to understand that above all, Sweatcoin’s mission is to make the world more active and reward you for your steps. It was never our intention for users to focus solely on the cash prizes, but rather, feel motivated by all kinds of different offers and ways to spend (like donating to charities) in order to feel even better about their steps than just walking alone (which is amazing in itself!).
We are taking all your comments and feedback on board, but really appreciate that you understand the difficult situation with these offers.

We hope that with the new and exciting changes happening in the marketplace in the next few weeks, our users will see that there are really awesome things they can redeem with their sweatcoins, but also not focus too much on one specific offer – that’s the beauty of Sweatcoin, we’re constantly adding new things and building new partnerships as more and more brands are valuing the importance of steps as a currency!


#24

Right – anything earned by you (invites, daily boosts, daily ads and of course steps) are all yours to spend on any offer you please!


#25

Hi Emma - thanks for your reply.

I appreciate your honesty as you have kind of agreed with my logic that with Troublemaker In place at such a low subscription level, PayPal cash rewards are not sustainable and it does seem from the tone of your reply there are no plans to reintroduce them.

I think if you had increased the number of coins needed from 20,000 people would have been as equally frustrated as they are with the reward being withdrawn and with the possibility of earning 1500 coins a month it would have only delayed the problem for Sweatcoin by a few months anyway.

It’s a real shame people have found a way to fraudulently claim rewards and earn steps and as always a few spoil it for the majority.

I do agree first and foremost the app is about helping keep people healthy and the coins being a way to interact with reward partners but will admit, rightly or wrongly, I was drawn to the £1000 and am pretty sure you may have underestimated just how many others are / were to.

It’s probably not worth labouring this point much further but at least we now know the coins which we earn will have to be used on other things and not PayPal £ rewards.

I walk daily anyway so will keep running the app in the background and maybe one of the other rewards will take my eye!


#26

Very well said, at the end of the day Sweatcoin is to keep you active. The rewards are a bonus. I’ll always be with sweatcoin and hopefully something I like comes up. I like the holiday offers they are decent. Hopefully they stay and something interesting comes up :sunglasses:


#27

I also feel the same and my goal was to reach 20,000 SWC in order to claim the US$1000.
I like travelling and I was also aiming for the Thomas Cook prize, which was removed because the company went burst! I was hoping that Sweatcoins would replace it with Last-minute. Com, but this never happened.
I must say that I felt totally depressed when Sweatcoins removed the $1000 cash option since I was about 1 year away and this was a big goal for me. I know it had been written ‘a few left’, but it had been like that for months. Sweatcoins never promised me anything, but am pretty sure that a lot of Sweatcoiners have been talking about the App to friends and reaching the 20,000 mark. Now, what am I going to tell my friends? I am afraid to say it like this, but the App will look like it is a con. My dad who will get a Smartphone soon, was thinking about installing the App when I told him about the $1000 prize, but I will now strongly discourage him to do so. There are also some Lifestyle offers, but again they are more limited and might magically disappear soon. Apart from that, there is absolutely nothing I am interested in. People might say that it has made me walk more to a certain extent, but not that much for me personally to be honest. I am sure a lot of you will agree that you have spent an awful lot of time watching videos, checking the app several times a day, trying to sort out the faulty conversation rates (this happens a lot less luckily nowadays, but it used to frustrate me so much) and the list goes on! Well, on the other hand, I could have carried on walking without having Sweat coins without all the extra hassle! Lastly, SWEATCOINS SLOGAN IS EARN MONEY WHILE WALKING. How wrong has this become? Rant over (sorry about the layout, etc…as this was typed on a smartphone)


#28

I appreciate your comments here and we really value your feedback.

I urge you to read my previous response here which explains a little bit about our decision to remove the $1k reward :slight_smile:

Regarding our slogan, not to sound too pedantic, but it’s “It Pays To Walk”, which is a play on the fact that it pays off to walk, and that we pay you with sweatcoins to walk. We don’t advertise anywhere as rewarding you in dollars, pounds or so on, but I do understand how this tagline could be construed differently… Our marketing team are actually working on a new tagline, that’s a little less ambiguous. Do you have any suggestions? We’d love to hear!

Thanks again in any case for your feedback!


#29

Hi Emma, I did read your full comment and everyone’s comments before posting on this thread, and I am so sorry to say that, this did not change my opinions about the whole change. I am pretty sure that a lot of people are thinking the same way. Not so many people using Sweat coins are aware of this forum, otherwise you would have had more complaints and I believe that your company is in denial about the harm it has recently done. Furthermore, some users might not be aware of the change yet, since one has to scroll down to see the Marathon offers. Here are my suggestion: I would appreciate if you take everything in my feedback into account. You can trust me when I say that I talked a lot about Sweat coins to friends and family (about 10 people at work starting using the app thanks to me); some are asking me how far I am from achieving my goal. What would their natural reaction be when I tell them that the offer has been withdrawn? The Sweatcoins team should really ask themselves if current Sweatcoiners would now recommend the app the same way as when they first started? I certainly wouldn’t. My impression is that Sweatcoins really worked at first because of the word of mouth marketing strategy, but this could now be its downfall due to the unfortunate bad decision that your company has decided to take. This is obviously my own opinion and others might differ, but it looks like Sweatcoins might have to rethink this switch, otherwise I feel that you will lose a significant amount of users. This already happened with my colleagues 2 years ago (if my memory is right) when they could not see the leaderboard on their phones. 90% of them stopped using the app. As far as I am concerned, it is an absolute shame since Sweatcoins WAS the favourite app on my phone, but, as I feel ‘cheated’ (I know that you never promised anything though), I’ve come to despise it!


#30

I really get this gbi2. I feel a bit of a mug as was telling people I was trying to earn 20,000 coins and why and when they next ask how it’s going and I explain ‘the reward is not there anymore’ I will feel like someone who has responded to a huge lottery win email from abroad by giving them my bank details :smile:.

We haven’t lost anything as never had it and maybe it’s a lesson learned and reinforces ‘if somethings to good to be true…’ £13 in and £1000 out in 13 months just by walking? Really? It’s almost like offering money to people for breathing!

I am going to go back to just walking my usual distance prior to chasing the coins and watch with interest how things unfold. I do appreciate the honesty now from Emma that the PayPal offers have gone and won’t return and maybe my figures which started the post helped force the issue.

I like being part of a forum so will hang around and do want to post some more upbeat things as so far I have been critical albeit in the world of reality.


#31

Hey guys,

long time that I have posted here, but I’m reading quite regularly through the posts.

Lately the discussion about the cancellation of the 1,000 $ reward caught my eye.
I understand the many negative comments on it, but to be honest, I personally still believe that things could turn out differently.

As you wrote correctly it seems strange that paying 12 bugs a year allows you to receive 1,000 in return. But there are many other factors to be taken into account:

  • Like in a gym many people are paying without using the gym a lot. I also know many friends of mine who pay for trouble maker but are not running a lot. In fact you would need 99 moderatly active people with a one year subscription to finance a “running machine” who earns the 20k SWC in 13 months
  • Similar argument is, that not a lot of people should really be able to achieve the 20k in 13 months. This would be more than 25k steps on average per day, while the average of an office worker is only 2-3k per day! So most people should need several years to get to 20k. Applied to the previous argument you would need less than 99 moderatly active users to finance the “machines”
  • Adds: Taking into account that sweatcoin has 50m users who are clicking on the daily adds one should expect an increasing revenue stream from adds allowing to pay out rewards to sweatcoin users. The more popular the app becomes the more qualitative and higher paying add partners one should expect
  • Last: The founder always pronounced that they are in contact with governments and (life/health) insurance companies to advertise their product and collect funds. This makes absolutely sense since it is shown that sweatcoiners are making significantly more steps on average than non-sweatcoiners. Therefore governments and insurers would have an incentive since sweatcoiners are generating less financial burden to the healthcare system.

Summing up, I hope that the arguments stated above are depositing on it that - at least in the long run - sweatcoin should be able to generate enough revenue to incentivise us sweatcoiners - even though not necessarily via pay pal cash but also via high quality products like iPhones or TVs.

But also to be honest, I hope a lot that this is not a scam where the founders are filling their pockets collecting revenue from adds and subscription fees as long as nobody recognizes it…

Stay healthy and have a pleasant weekend!
Hansi


#32

Great post Hansi and can absolutely see where you are coming from.

As you have alluded to, time will tell and like you all I want is for the company to be honest. If they fail to be things usually take care of themselves and get exposed for what they are quite quickly.

The higher value rewards are possibly more likely to remain but again we will see.

Never mind the coins I have become addicted to the forum :smile:

Hope you have a good weekend to.
Dave


#33

Only skimmed quickly, but my view…

Your calculations are out from the off. The reward was $1000US NOT £1000UK.

Sweatcoin shot themselves in the foot by releasing TroubleMaker as a ‘double your conversion rate’ rather than a higher daily/monthly conversion limit. I’d always expected it to be the latter, which would reward people (like myself) who regularly got capped at the 20 coins (I can do 26-27k steps a day with work and commute - more if I throw in a decent run).

Like many others there is now nothing I’ve even vaguely interested in, so I’ve cancelled my TB subscription. I’m not prepared to pay hard cash when I can’t see myself getting anything worthwhile out of the system. I currently have close to 17k coins, and they’ll just sit there now with standard rate conversions being added until such times as they release something I definitely want.


#34

Hi cw18. Like you I thought $1000 but if you take a look on the other thread you will see where I have questioned this and admin have confirmed in the UK it was £1000. I also asked if there was a PayPal fee which there wasn’t. Hope this helps.

Like you, I won’t be bothering with troublemaker now and will just aim for 15,000 a day but only because I walk anyway.

Hope you don’t mind me saying but the starting tone of your post was a bit aggressive. No worries though, perhaps I’m just being too sensitive!


#35

It’s nothing we can do the cash reward has gone.

Sweatcoin at the end of a day is an app to make sure you’re fit and active. I will continue to use it however I may downgrade my membership level from troublemaker.


#36

Outstanding post mate. Every nail on the head


#37

@Kyle93 Can’t tell if you’re being sarcastic :joy:


#38

Nah, I’m serious lol. Anywho follow me on Sweatcoin ya mug lol. Kyle93


#39

They need to bring in some decent prices, not the garbage they offer now, If not cash, PayPal deposits ot gift cards for Amazon etc.


#40

Somehow i still have the 1000 dollar offer
Time to walk