Oddbean new post about login | logout Hey @FOLD BITCOIN I sent you guys a support email recently, but I completely stopped getting spins with the recent UI update. Anyway we could get someone to check on that?
um... did you mean to @ an account with Parody in its name?
I don't think Fold Inc has a presence yet.
Ah shit that’s a parody account. Damnit I’m gonna have to go back to Twitter aren’t I? 😒
https://support.foldapp.com/hc/en-us/requests/new don't do it to yourself
yeah, don't do it, we will miss your good mornings, and we will all regret it.
I found the daily spin under the tab represented by a 🏆 It is not on the main page anymore. (Btw I had 20 in cash just converted to Bitcoin thank you for the question).
The spins at this point are useless. Either Fold needs to completely remove them, or revamp the wheel to give meaningful rewards.
They actually still stack decently over time, but they absolutely should’ve gone the other way, fewer spins with higher rewards. The way they did it felt like they got completely inflated.
Not useless! I’ve received a total of 45 sats over the past week! 😂😉
I get the daily spin. That's it nothing else.
Spins have gone the way of the dodo bird. The same place Fold is heading I think.
To the contrary, they have been hugely successful and are about to IPO
On an seriously close to being done with fold. Or at least spin+. Removing the spins for every $10 spent makes it feel pointless. I don't have enough cash flow through fold to make the $10 a month worth it. I would have better return on my investment just buying sats with that $10. Then once I get rid of spin± the direction of the company leaves a bad taste in my mouth. nostr:nprofile1qqstnem9g6aqv3tw6vqaneftcj06frns56lj9q470gdww228vysz8hqpz4mhxue69uhk2er9dchxummnw3ezumrpdejqzrthwden5te0dehhxtnvdakqz9rhwden5te0wfjkccte9ejxzmt4wvhxjmcjgxv3n I know they are a sponsor but not sure if you have much sway with them but just my feedback. I got the folks card because of you but the constant slowing of how many sats I get does not leave a positive taste in my mouth. At this point even getting a credit card and putting cash back into buying sats is more worth it in the long run.
They haven’t been a sponsor in a long time, and I dont see anything about them getting rid of spins. I legit wonder if it’s a mistake. It still has all the same spin details in the docs. Granted they did add partial ACH rewards too, so maybe it did change and the website isn’t updated? 🤔
I've been active in their Discord server for a year or two now and have monitored their rewards evolution and people's opinions thereof. It seems like people don't read their emails with program updates or maybe it's going to Junk Mail. They communicated all the changes about spin rewards and ACH rewards weeks in advance, but many people still seemingly caught by surprise. I understand people don't like losing the amount of "free" sats they were able to get before, but so much has changed. Given the changes with the global economy (i.e. rates) it's not surprising that they can't sustain the generous rewards, not to mention it's rewards on a DEBIT product, which is much different from CREDIT products. They have matured and adapted to the environment and their primary users: people who want to get on zero (fiat), a bridge between fiat and Bitcoin. To those who use it as their primary spending account the ACH rewards system is a net positive. It's a Loyalty rewards system. It's not for everyone, and for those who are rewards maxis/optimizers who have access to other credit products with 5% cash back and can pay off their balance every month, good form them, but not everyone has access to those products.
If it was updated via email, I missed it. Email is the bane of my existence 😂 But I agree with basically everything you said. I wouldn’t be able to function without Fold these days, plus it’s my main debit card for personal and business expenses so I easily make back what I put in, not to mention the round ups, auto stack, gift card rewards, etc. I literally use them for everything and it makes living on a bitcoin standard vastly easier. That said, I simply didnt realize they were getting rid of spins and was surprised by it. Legit thought it was a bug because I looked up (maybe it was an old website cached or something, but it had the same details for spin rewards as before.
Sorry didn't realize they weren't still a sponsor. I'm not sure about the docs but they definitely removed the wording about 1 spin every $10 spent from the app. I don't it hard to believe that's a mistake. Not sure why they're doing this; feels like the only reason anybody would still be using them at this point is momentum. Not sure how they will sustain this because I can't be the only one thinking of not using them any more.
Disagree on not having a purpose without the spin rewards. They aren’t really the major way I was getting sats anyway. But being on a bitcoin standard, Fold is by far my best multitool and I still get way more sats than it costs, by a long shot actually. In fact, I got more than my monthly cost in just the last 24 hours.
Maybe I'll try to set up the ACH rewards stuff and give it a go. I do think it would be a net positive if I can get sats for my bill payments. But I agree with the guy below me. I honestly wish they'd get rid of the spins entirely at this point. I think what leaves a bad taste is just the promotion they did around it for so long feels like a bait and switch which just rubbed me the wrong way
I've been active in their Discord server for a year or two now and have monitored their rewards evolution and people's opinions thereof. It seems like people don't read their emails with program updates or maybe it's going to Junk Mail. They communicated all the changes about spin rewards and ACH rewards weeks in advance, but many people still seemingly caught by surprise. I understand people don't like losing the amount of "free" sats they were able to get before, but so much has changed. Given the changes with the global economy (i.e. rates) it's not surprising that they can't sustain the generous rewards, not to mention it's rewards on a DEBIT product, which is much different from CREDIT products. They have matured and adapted to the environment and their primary users: people who want to get on zero (fiat), a bridge between fiat and Bitcoin. To those who use it as their primary spending account the ACH rewards system is a net positive. It's a Loyalty rewards system. It's not for everyone, and for those who are rewards maxis/optimizers who have access to other credit products with 5% cash back and can pay off their balance every month, good form them, but not everyone has access to those products.
