HostageFund

Reach your fitness goals by making it too expensive to quit

0 followers

Reach your fitness goals by making it too expensive to quit

0 followers

Force yourself to finish what you started with HostageFund. Make a commitment, endanger your dollars and make it unaffordable to quit.

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Launch tags:Health & Fitness•Productivity

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HostageFund

Maker

Hey everyone! 👋 I started HostageFund as a crazy experiment to get back into shape. I was 6 months-deep into the lockdown and 30 pounds overweight! One day, I just wired a pile of cash to a friend and asked him to burn it if I did not send him daily video footage of my workouts. 💸🔥 I'm posting on PH today so... Obviously, I didn't miss a day and no one burned my money. 💪🏻 --- Fast forward a couple months and I've built an app to help others experience the power of loss aversion and irrevocable commitments. It's not the most polished product yet, but it definitely works. The current commitment-follow-through rate is holding strong @ 100%. 🙌 --- It would be fair to label the product as in a "Beta" phase, but it works! If you have a habit you would like me to hold you accountable to, sign up! HostageFund has worked miracles for me and my early adopters, and I just want to see how many others I can help get back on the wagon! 😊 --- Bonus: I haven't figured out monetization yet, so it's still 100% free to have your workouts reviewed (as long as you don't quit)! ⚠️ Currently, only Canadian dollars can be held hostage but USD support is coming any day now.

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5yr ago

I'm wondering what happens to the $20 every month? Is that the minimum hostage amount and the total risked goes up by that amount each month? At the end of the period, can it all be withdrawn providing goals are met?

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5yr ago

HostageFund

Maker

@ianmayman The minimum hostage amount is set a $250 and is returned in full upon completion. (However, I've had members deposit up to $2,000 in their hostagefund) The $20 from the premium membership is a review fee, for the service of having an app verify your commitments.

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5yr ago

I strangely find myself intrigued by this idea. I also need to lose weight but with no obvious "loss" of not doing it - being lazy it's easy to fall off the wagon. My best motivation was when I was working out with a friend and we encouraged each other. What if the "hostage money" could go into a pot shared with your friend/s and you all agree the same stake for the same activity, those who complete the objectives get an equal share of the total pot back? That way I've got the "friendly encouragement/competition back in my life again... (I would need GBP and EUR support for that to work) I also like the charity/cause you disapprove of too being donated too!

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5yr ago