Just sharing what I saw about Brave from a site - Discuss

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Weak Points of Brave Browser:

As many of you probably already know, Brave is a classic advertising business model. Braves browser settings allow you to set a number of ads that you would like to see per day (up to a maximum of 10 per hour). This can be somewhat annoying for new users as you will have ads pop up random times throughout the day in the corner of the screen. Some of the projects these ads represent are genuinely interesting projects, while others not so much. This is a classic business model where ad revenue will filter down to you, the user. You are essentially paying with your attention that you give to various businesses who try to entice you with offers throughout the day. Brave’s token (BAT) use a third party medium of exchange which makes it less decentralized and secure as a result.

Brave currently supports two wallet services: Uphold and Gemini. External wallets, that take additional time and complexity to set up for a first time user. This wallets also require a verification process which only allows for 4 devices to verify the same wallet. This is a lifetime cap and if you have left brave on your old smartphone, computer, or have downloaded a new instance of Brave more than 4 times then you are going to have a hard time recovering your wallet through Brave.

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Classic advertising model is that the advertiser pays for ads to be shown to the user. When users see the ad, they get nothing for it. Saying that Brave is a classic advertising business model is absolutely incorrect.

Actually that’s unique. Again, usually people who are forced to see ads aren’t paid for it.

Well, these are non-intrusive notifications. Notification settings can be adjusted on a device so there’s no sound or anything as well. For example, on my PC, I never see any notifications pop up. The only way they appear is in my Notification Center. Nothing ever pops up.

Traditional ads are intrusive, such as 30 second or longer videos, banners across content they are reading, or whatever else.

It’s important to recognize the difference.

Again, not true. Have you not used Brave or done much research in general? There’s a lot of misinformation here. Brave did away with the wallet limits back in May.

No, not completely. BAT is earned and paid through Brave’s own browser and stored directly in your browser. This is 100% decentralized. Users who earn BAT are able to use this to then tip content creators they wish to support.

For those who wish to be greedy and use BAT for themselves, especially to convert to fiat, you have the ability to connect to Uphold or Gemini. When a user does this, it become centralized and subject to government regulations. This is up for the User to decide and is not innately what Brave Rewards is meant for.

Close, I guess. They actually have 3 exchanges that they use for custodial wallets. Gemini and Uphold are used for most of the world. Then there’s BitFlyer for Japan. This is only if you’re speaking of what you can move your Rewards payments to. Otherwise Brave actually supports MANY other crypto wallets. There’s Brave Wallet and they have many DApp partners, for example.

@cab1 Not sure which “website” you claim you pulled that from but it’s wrong in a bunch of ways.

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Hay Miles de usuarios quejándose y todavía BRAVE no ofrece una solución, todos como región latinoamericana y europea necesitamos hacer nuestros retiros y conectar nuestras billeteras. Han pasado casi 8 días y no hay respuesta. Deberían mantener informado a todo sus usuarios o al menos alistar alguna región.

Con que pongan lĂ­mites para retirar bat todo mejora.

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Hi @Saoiray Saoira just got it from Decentr (They claim to be your competitor … Seems like they are just copy of brave nothing else… No unique thing) … I know there is lot of misconception & wrong statements … Thanks for your detailed & quick response… I will go & paste your messages there… I have been using Brave browser from years & fan of Brave Browser…

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So you said those people are “Greedy” which use BAT for themselves … Not good words for people using brave …

I want to confirm that Just like Brave sends $BAT to External Wallets monthly … It sends the Brave rewards in browser wallet monthly ?? Its my first time that I have disconnect the centralised entity like Uphold.

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You know I’m a normal user of Brave, right? I spend a lot of time here helping people and responding to things, but I’m not an employee or anything else.

In any case, it’s true. Those who are just taking the money and running would be considered “greedy.” At least when you understand what the original intent and purpose of Brave had been meant to be. It’s here to put Users in control over their privacy and ads. The browser itself blocks ads from sites and prevents tracking. In exchange, we were given BAT which we are then in turn supposed to use to support the sites we like.

To better explain:

Traditionally websites place ads on their content and causes pop-ups as well. Each view or click earns the content creator money. Occasionally those same ads install malware or trackers on our devices. This is what normal advertising on the internet looks like. The person seeing these ads earns nothing. Instead they actually lose by their personal information being tracked and sold by the content creator and advertiser.

This is where Brave stepped in. By using Brave we’re stripping sites of their income, as Brave is blocking all ads and trackers as best it can. Many of these websites need some sort of income in order to continue providing content. Hence where Brave shares ad revenue with us so we can then pick which websites we like and tip them, so they can continue creating new content. If Users fail to tip content creators, then all that happens is we diminish revenue for sites and they can start to struggle.

Money should go from Advertisers to Users, then Users to Content Creators, then hopefully Content Creators back to Advertising and Users again, where it constantly flows. Instead, people are just kind of cutting off money to content creators in general.

People may not like the word “greedy,” but it is what is it. And yes, I’m greedy with my BAT most of the time too.

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Payments are made monthly to all users. It doesn’t matter if you’re Verified with Uphold/Gemini or Unverified. If you’re Unverified then your monthly payment is received and stored in your Brave web browser itself. If you’re Verified, your payments get sent from your browser and is received at the exchange you’re using, which likely would be Gemini or Uphold.

The difference in where you receive it determines what you can do with it. If you’re Unverified then it stays in the browser and the only thing you can do with it is tip content creators or save it for the future. There’s no way to spend it, convert it to other cryptocurrency, or even convert it to real money (which is called fiat).

The Verified wallets are when you link to an exchange, such as Gemini or Uphold. Since it now opens up and can be converted to fiat or other crypto, it starts to fall under government regulations. This is why those places are required to perform KYC/AML, which is where they ask for copies of your ID, your address, social security number, and all sorts of other things. Again, this is only for those who wish to remove BAT from the Brave ecosystem. (I say ecosystem, might be the wrong word).

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Esto es una mentira. Brave ya ha avisado de lo que está pasando y ha dicho que los usuarios deben ser pacientes. Esto es sólo un cambio temporal. Sé que ya he hablado de esto contigo en otro post. Puede que no estés contento con ello y quieras que se resuelva más rápido, pero eso no es lo mismo que decir que no han ofrecido una solución. La solución es esperar y volverán a añadir las regiones en cuanto puedan. No se sabe cuánto tiempo puede pasar. Podrían ser días, semanas, meses o más. Pero están perdiendo dinero cuanto más tiempo pase. La paciencia es muy importante. Todavía están ganando con las Recompensas si están participando en ellas. Lo único es que ahora mismo no puedes llevarlo a Uphold o Géminis.

This is a lie. Brave has already advised what is going on and said users must be patient. This is only a temporary change. I know I have already discussed this with you on another post. You may not be happy with it and want it to be resolved faster, but that is not the same as saying they have not offered a solution. The solution is to wait and they will add the regions again as soon as they can. How long that might be is unknown. It could be days, weeks, months, or longer. But they are losing money the longer it goes on. Patience is very important. You still are earning from Rewards if you are participating in it. The only thing is right now you can’t bring it to Uphold or Gemini.

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If you’re so pro Content creator then tell me why Brave collects 5% of tip amounts?? Isn’t the big chunk being cut from the donations which only amount to (I think) $3-$5 (that’s the max donation many content creators are getting ) … ??

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I wish Brave Team remove the 5% collection or reduce it to 1%

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Why do banks charge wire transfer fees? Why is it that when you use your credit card at a store, the merchant is charged a transaction fee? Why do we pay taxes?

It’s because there are expenses, not only related to the service but also to the transfer of money. This is especially true among crypto which has gas fees and all. That at least is an answer to your question.

That’s always a good feedback. But then one might ask if you just want it removed or reduced for all transactions? Would it be okay to say they’d limit it for up to a certain amount of tips per month but any additional transactions might have the 5%? How about saying anything less than a certain amount might be free or reduced, but any larger than a certain tip would have a fee?

Lots of ways to consider and not sure if Brave would like any of those thoughts. Just thought I’d bounce some ideas your way and have you give your final thought.

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You talked about Transaction fee… I agree with that… That’s why I said Brave should not cut 5% but only cut the network fee… There should be option for sending BAT BEP20 tokens or other networks BAT tokens … Which will bring down the transaction cost … Charging 5% is just not fair …

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You should try to research crypto a bit more when you get a chance. BEP-20 are tokens that exist just on the Binance SmartChain. Brave doesn’t exist there and it’s not like you can just pick up and modify BAT to a new chain.

There are no other network’s BAT. BAT = Basic Attention Token which is Brave’s own Utility Token that they created and host on Ethereum. Its value is actually backed by ETH as well.

Not really. There’s a bit more going on than I think you’re realizing. Let me explain something about payments.

In terms of BAT on our browser, that’s being stored as vBAT, or Virtual Basic Attention Token. That exists on the small decentralized network. If people claim and just keep in the browser, it’s not an issue.

When it transfers though, it becomes a different story. Do you think that BAT just magically appears? Brave is actually having to pay for the gas fees and all for BAT to arrive at our Gemini or Uphold accounts. Usually this works out with planning from ad revenue. But now tips run a different story. They have to move BAT from you to the Creator, which has gas fees. The small percentage they take from the tips doesn’t really cover everything but it helps.

That said, I’m not trying to shoot down what you’re saying or say you’re wrong. Just trying to chat back and forth as to what I’m seeing as the reason and make sure everyone is trying to evaluate it. If we can come up with some good ideas, then can always bounce it over to Brave to see if they can make adjustments. We just have to make sure we understand how it works and offer suggestions that benefits everyone. As much as we’d say it would be nice for Users and Creators to profit more, we also know that we can’t just say Brave has to eat everything either.

Actually, @Aman_M. If you would share an opinion, what would you say in regards to all of this? Sorry, I kind of see you as the big crypto guru around here. How fair would you say the 5% fee is for tipping?

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is there any harm launching BAT on other networks like BNB Chain etc? Many other projects are available on more than 1 networks … I actually just checked Coingecko and it says that BAT is available on Polygon, BNB Chain, Harmony, Avalanche, Energi … May be its not BAT’s official?

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To be blunt, I’m always learning more about crypto on a normal basis. Usually I would dive right in and learn the hard way, but I stay broke. That’s why I say I’m still learning, I’m just now seeing seeing articles I missed where Binance went to rewhere Binance went to rebrand things, such as here where they renamed their Smart Chain to BNB Chain.

That’s where I actually tagged Aman_M to ask opinions, as he seems to be very knowledgeable and experienced with crypto in general. I try to share what I can, but I “walk on eggshells” around it. One thing I can relay though when it comes to Binance and others is what has been said by Brave, which is it requires Binance to actually contract with Brave…which they won’t do yet. That was on a Community Call a while back that I posted about at Psa: updates from brave call

In terms of what you’re saying, BAT is on Ethereum and places like Binance run on Ethereum. So they trade BAT and all there. But receiving it for Rewards and all, especially converting from the vBAT we earn here to the BAT, it’s a bit more complicated and costly. Unfortunately I’m not experienced or wise enough to be able to explain the specifics.

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@cab1 First, the device linking limit has been removed some time ago and previous limit of 4 per custodial account, no longer exists.

As per industry standards, it’s very moderate. Goggle, Twitch etc. take upwards of 30% as commission! Even 3rd party services like Patreon takes upwards of 5%. I personally don’t think this 5% is excessive.

How come so many chains are mentioned but not Solana that Brave is trying to integrate. And, of all things out there on crypto, I just know tip of the iceberg, just premitive information.

Brave is blockchain agnostic. Plans to go multi-chain have are there for some time, just Solana being the first one.

But for now, BAT from rewards can only be withdrawn on Ethereum chain. And this is due to limitation of custodial partners as they only support BAT on Ethereum-chain. And Brave plans to bring liquidity of Solana-BAT (Portal) over to Uphold/Gemini but that will take time. And so will BAT liquidity on other-chains.

And about Brave paying Gas fee to move
Rewards BAT to Uphold/Gemini, I don’t think that’s correct. Even tips from unverified Rewards wouldn’t incur gas fee. But for cross-custodial tips (Uphold verified user tipping Gemini linked creator and vice-versa) gas fee could be a requirement and that’s why it hasn’t been implemented.

With full Solana integration, we will have faster, low cost transactions with BAT earned from Brave Rewards but in some time future.

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Thanks for that. One of these days I need to dive in and study more. I’m just usually a “hands on” person and can’t afford to mess with crypto yet. At least been learning the basics as it’s been discussed here by you and a lot of others.

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@Saoiray if you’re ready to dive in…
I personally can recommend khanacademy.org

It’s free, no ads, no overuse on catpital letters and exclamation marks, no ads (again), no bs, just solid information on point.

and last but not least a verified brave creator as well :fist:

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