Would you use an app where you stake money on daily habits with friends in order to stay disciplined?

Sharing an idea for an app I've had in my head for a while.

Here's how it works:

1. You create a group and invite your friends (up to 10 people)
2. You all agree to commit to a daily habit, such as going to the gym
3. You all must individually submit daily proof that you've stayed committed. In this case, it could be a picture of the gym or a location-check system
4. Once everyone in the group submits their daily proof, the group streak counter increments by 1.
5. If a day goes by and ONE person forgets to submit proof, the group streak is broken, and the person who broke the streak must pay everyone else in that group $5-50 each.

To validate whether or not this app is worth building, I've created a waitlist. Right now, it has 100+ people signed up: https://getstreek.com/

What do you guys think? Any feedback or advice for the idea?