Shing Clip Extractor and Shing Blades
You're watching the DVR of a stream and that moment happens. Now, you want moment. Your inner voice yells, "Clip that!" and now you must have moment. You must share moment. ...but ...how?
Clip Extractor loads any DVR episode into the Extractor. You define one or more clips to extract from the episode, giving them each a title, description, search tags, and a category.
You can preview the clips. When they are to your liking, you can render the clips. Shing's servers then do the video editing and rendering for you. You don't have to download the 40GB video file, chop it up yourself, and wait for your render time. The whole big Shing Thing will go do it. Quickly.
Clips do not expire. You do not lose clips if your paid membership at Shing expires. Because you keep what you buy. And, yes, you can download what you buy. The streamer's Copyright means you don't technically own the performance, but you do own the digital data representing the clip.
Payment, Who Gets Paid, And How
It costs $0.25 per clip with a limit of 8 clips per job (maximum: $2). Subscribers get a number of them as part of their subscription, and current balances can be checked in User Account Settings. Clips can be purchased using any electronic payment method (currently: HandCash), and by using Shing Blades. Shing Blades can only be purchased using the PO Box payment method, and are meant for use by those who prefer to not use any form of electronic payment processing.
Clip revenue is split 75/25 (Shing keeps 25%, the channel gets 75%). So if you create 4 shareable hosted clips that outlive the DVR episode itself, and spend $1.00 to make them, then:
- $0.75 of your payment goes directly to the channel's wallet as BSV; and
- $0.25 goes to Shing's publicly-verifiable wallet from DTP's publicly-verifiable Shing Blades wallet.
Your payment supports the streamer's work, keeps Shing online, and helps everything grow. The channel's payment is sent directly to the channel's wallet, no portion is withheld by Shing. Shing receives its own payment as a separate payment. The HandCash Web Wallet's ignorable fees and Connect API enables these transactions, and is also how we pay out the use of Blades. We immediately deduct the value from your Shing Blades balance, and transfer that value to the channel's wallet as Bitcoin SV (BSV) at the current market exchange rate for BSV.
Shing offers the PO Box payment method, which enables members to use a personal check, cashier's check, or money order to make purchases. One of those purchases is: Shing Blades. And, Shing Blades are Shing's on-platform electronic currency.
Shing will not become Western Union. Shing will not become a cryptocurrency exchange.
Shing Blades are intended to be used for buying things on Shing, and only for buying things on Shing.
Are Shing Blades A Cryptocurrency?
No. Shing Blades are not a cryptocurrency or digital asset of any kind. You are buying them. You can then use them to pay on Shing and only on Shing during checkout in the Shing Store. Shing Blades can only be spent on Shing.
One US Dollar equals one Shing Blade while in your account. And they do not fluctuate in value because they are stored by us as your actual Dollars in a US bank account of their own. One blade is always equal to one dollar, and we don't receive that money until you spend it. It is not an escrow, it is a purchase. Shing technically owns all Shing Blades, and gives the purchaser permission to tell it what to do with them.
You do not earn interest and this is not a checking/savings account. Shing is not issuing you an ATM card. Shing is not a bank.
When Shing Blades are used to pay for a purchase such as membership plan upgrades, your Shing Blades balance is debited and your actual dollars are moved to the Shing business account. This is when they become ours. And, this is why your Shing Blades purchase doesn't affect the funding goal bar on the site until they are actually used to pay for a purchase. They don't become our dollars until you actually spend them.
No, all sales are not final with Shing Blades and you absolutely can ask for your Blades back. We will mail you a check.
We cannot, however, send you your own Shing Blades as Bitcoin SV to your HandCash or other crypto wallet. That would instantly make Shing a currency exchange service, and we aren't licensed to do that. We aren't likely to be but, going forward, it's hard to say. We could be. That would change this. But, until we become an exchange and do a Sam Bankman-Fried of our own (humor)? You can't withdraw to crypto. That's an exchange. No.
How Do Blades Pay A Channel?
When paying a channel, the required amount of Bitcoin SV is purchased at the current market rate by Shing from the Blades account using your money, and immediately sent to the channel's connected HandCash wallet as Bitcoin SV. Your money becomes our money, the system then immediately buys the Bitcoin SV, and sends it to the Channel's wallet.
Are Shing Blades Transferable?
No, Shing Blades can't be transferred or "gifted" to another member as Shing Blades.
You can instead purchase an item that you want to gift to someone. Shing Memberships support gifting. Blade Chat tip amounts go directly to the channel operator.
We cannot permit members to give each other blades. The receiver of them could then request a check, and that's how Shing becomes Western Union. Shing isn't allowed to become Western Union. And, Shing doesn't want to become Western Union.