I finally decided to dive into the world of LBRY and all that it has to offer.
I must say the more I read about it the more excited I got about the project, both from the viewpoint of a content creator and also as a prospective consumer.
I’m an active user and promoter of a different type of social network that incorporates cryptocurrency called Steemit that pays you to post quality content, you also get paid for voting for and commenting on the posts of others.
But LBRY seems very different to me and that has me intrigued.
Let’s take a look at the cryptocurrency for LBRY, called LBRY Credits.
Ranked 58th coinmarketcap.com
Current Price- $0.82 per coin
Circulating Supply- 68 million coins
Total Supply- 466 million coins
24 Hour Volume- $5 million
Market Cap- $56 million
Available on
Poloniex
Bittrex
Cryptopia.
Poloniex has the biggest volume
The team behind LBRY is quick to give credit to Bitcoin for blazing this new decentralized, distributed, crypto path that they and many others are now able to take advantage of. They also realize that it is far too early to label how exactly LBRY will excel and exactly in which direction.
To quote Mike Vine, LBRY’s marketing director,
“…LBRY is a fundamentally better way to distribute and access all consumer-oriented information…”
They have set their sights on the big five of media- music, movies, video games, tv, and books
It is very similar to Bittorrent in regards to how files are shared, but what makes them different is that LBRY changes what motivates hosts to share certain files by replacing popularity with price.
LBRY can really cater to niche markets by making available obscure pieces of work, be it movies, music or books, to its seekers who are willing to pay a bit more money for them.
Hosts will want to provide anything that will bring in more money.
One aspect to LBRY that has been cause for confusion and concern is their name service.
They’ve designed it in such a way that it ensures the most reputable entity owns the most legitimate name for the content they provide. They achieve this by having an auction-based name service. Essentially this means your name is never “safe”. Someone can place a higher bid for your name and if you don’t counter-offer in the time given for you to respond, you will forfeit that name.
Understandably, since we are so accustomed to the idea that once we own something, it is ours forever, this has made some people a bit uneasy. To provide some relief to those who want to participate yet are not happy with the impermanence of the name service, LBRY is implementing permanent URLs that you can own forever if you chose to go that route.
Looking at LBRY as a content creator
Of course I'm excited for the prospect of connecting directly with my audience without a middle man named Youtube that has the power to shutdown my channel if they suddenly decide that my content is not in line with their advertisers ideals. I can choose to provide my content for free, or I can set a price per view or per download.
Looking at LBRY as a prospective consumer
I’d be happy to give my money directly to the musician or filmmaker for their work in return for a super fast video stream or download.
I can also see the potential for LBRY being a hub for indie films and otherwise undiscovered gems in music and written works.
If you are at all curious about LBRY I suggest taking a look at their blog, it’s really well written with a great sense of humor and updated frequently.
You can join their waiting list to gain access to the beta version by clicking on this link,
and for a lot more information about LBRY I encourage you all to check out the links and information down below.
Additional Reading/ Sources:
LBRY Website
LBRY Blog
LBRY GitHub
Join the Waiting List for Beta
CoinTelegraph Interview with LBRY Team
LBRY AMA
How LBRY is Different
Type of Content Found on LBRY
Thank you for bringing this projecy to my attention. Ive seen it but havent paid much attention. I will go back and do some additional research.
Thanks again.
Also worth mentioning is the fact that LBC (LBRY Credits) is profitable and fun to mine with a GPU.
so its a platform for creators to release content? how is it separate from other platforms out there now?
Hey Storcogato
here are a few nice links that might answer your questions
usefull links
Very nice put together video! I could see LBRY being used instead of soundcloud....Im a DJ/Producer and this sounds like something that is right in my court. Just another way to display my content.
Thanks for sharing. Nice info :)
I wasn't aware that the urls are changing LBRY, still have yet to look into it fully. I'd probably pay for the permanent one, it's all about branding and even though auctions may be fun.. for stuff like my Twitter handle I know plenty of people want it ;p In general, it's a good idea though. The more of these crypto networks that come out, the more we have to choose from and it improves selection :)
I have a lot of faith in LBRY and can't wait to upload my music to it :)
Great job Heidi! I look forward to your videos!
What Really is the FOCUS of LBRY? OR it is also One More White Sheep in the Herd. Just Want to Know...
They are basically a decentralised content distribution network, that will allow people to share content and even charge for it if they wish too. They are starting with video, but eventually aim to move on to other types of content too. So for now think of them as a decentralised Youtube :)
"A decentralised Youtube" I like the sound of that, I'll keep my eye on that to see how it (LBRY & others like it) develops. Exciting times to witness the spread of Decentralization!!!
yup :) and they plan to be much more than just videos so definitely keep your eye on this one.
Hey
here are some links i put together when i had the same question
links
I have already join the waiting list for LBRY five days ago. Just waiting the notification to proceed. I can also see big potential.
I'm already there too
You don't need to wait for the confirmation as you can download and install it now. It's still only pre-beta but it does work pretty well and a lot of people are uploading content at the moment. I think that it is going into Public Beta in July which is when a lot of Youtubers have said they will give their support.
sounds like an innovative use of the technology by connecting the end-user directly with the content originator/creator-you'll know immediately who's viewing your work without a 'middleman' filtering the results or directing
'eyeballs' to other content that could make them more money. i'll have to put them on my bookmark list. upvoted, resteemed and following
I invested in LBRY right before it took it's dip in value just a couple of days ago. But, the more I learn about this coin the happier I am to hold onto it for the long term. Thanks for the update!
I have done the same, but I don't care about the temporary dips. This project has great future, it worth to hodl it.
Agreed. The more I learn about this project, the more I love it!
Nice content, love your posts. I'm following you on youtube and over here. Keep up the great work :)
Thank you kindly :)
Great article, video ans analysis! Thanks for sharing :)
I think LBRY is definitely a great crypto to get behind. Especially for hardworking content creators trying to make a decent living. Check out Gaby Dunn's article on the difficulties of earning off of Youtube: http://fusion.kinja.com/get-rich-or-die-vlogging-the-sad-economics-of-internet-1793853578
I'm going to check this out an register for the beta. If it's what you say it is this could be a serious game changer wow thanks for the insight. Great post I have upvoted & followed 🙏🙏
Seems pretty cool. Would love to see an update video -- see if your liking it a few months in. Keep us posted!
Nice work on your steemit blog... kick ass sista!!
Caught one of your videos surfing youtube. Great content and super informative. Good to see you in the steem world. #followupvote
lol I enjoy the refreshing no fucks given comment, have my upvote good sir xD
Nice. Have a follow for your efforts.
Thank you Harley, cheers. I appreciate that <3
Thank you, I've seen this coin move a bit lately and wasn't sure what it did. It sounds like it may be worth investing in!
I've always been super interested in LBRY, thanks for the info! If you're interested in trading crypto currency check my latest post on why I've recently got into Litecoin: https://steemit.com/cryptocurrency/@jhcooper7/my-cryptfolio-investment-why-i-diversified-profits-from-ethereum-to-litecoin
Just finished watching the video and I must say I am very impressed. I too am not very comfortable with having YouTube in a position to shut me down according to their own corporate whims. LBRY sounds like an exciting new project to get involved in as a user as well as investor. Joining the waiting list for Beta ASAP. Thanks Again!
Thanks for the info! I'm interested in anything that has the capability of replacing the old social networks
LBRY is indeed a coin with potential , invested some in it . Great video miss, do you mind doinga video about siacoin? would love to hear your opinions
I read your post because yesterday I discovered LBRY. I did not hesitate and I am now waitlisted. It is indeed exciting that users will be in charge of their own content and pricing. I am beginning to feel the true disruptive nature of the crypto-world in every way!!! Yay!!
I'm a beta user of LBRY and really like the concept! Sadly I had to deinstall the app because it made my laptop super slow. I'm sure that's just growing pains and will change in the future (maybe it has already).
I was also super impressed with their service (they helped me back it up so I could safely uninstall it without losing any of my credits).
I'm keeping an eye on them, I think they have a lot of potential!
What did you like most about the app? How long ago did you uninstall it? I haven't had the chance to talk to anyone who is/was a beta user until now :) It's great to hear they have a good help service.
I installed it back in April and uninstalled it tree days later :) because it was just too slow (but they had this feedback already and might have fixed this by now).
I do like the layout of it and it was pretty easy to navigate as a user.
The publishing process was not as intuitive though and quite confusing. I don't remember the details but I made a few mistakes and I'm not sure if I ever ended up publishing or if I gave up :)
Persionally I would prefer if it were a webpage like steemit rather than a separate app.
Steem and LBRY could both become very big. LBRY still relative low cap. great video and info!
Waiting to see what Synero does with their "WildSpark" etc
This is an interesting idea. That is, I can write, for example a book, or a song, and give them? They will place and pay crypto currency? Do I understand correctly?
Basically you can upload your content to their platform and you can chose to let your audience view it for free or at a price that you set. You get paid 100% of the profits that come from your audience paying to view/use your content.
I'm new to this, and will have to look into this further! This would be a game changer since soundcloud is such a HUGE platform for musicians to promote their work
LBRY is certainly very interesting. As a developer I really liked the honest way the dev answered some of the questions on the recent live event. He doesn't pretend that everything is figured out yet for example when it comes to scaling.
thank you so much for this opportunity
Thank you.This looks like having some prospects.One concern I would have the market size they r addressing.With a low market cap it indeed is attractive for investors
Another valuable currency from @heiditravels.
A small doubt, how did you dig out the 58th ranking coin?
How do you identify these potential coins ? A little bit curious to know your style of working.
I read about it a while back and occasionally I get suggestions for crypto projects that people want me to check out so I took a look into this one and found myself liking the idea and the guys behind the project seem to have their "heads on straight" so I thought it deserved more attention :)
I also take a look at the supply of coins and if they are capped, and also reference the daily volume to see if there's much action in the markets for it.
Oh... That means you had all future posts and analysis scheduled to shoot out in time.
I definitely don't schedule my future posts lol I could probably be more organized but essentially I make videos based on what catches my eye.
May be you are rare talent, who don't need much ground work to present yourself better out here....
Besides I became a fan of your work.
Keep rolling!!
I was interested at the beginning of it and the i forgot i'll have another look at it thanks ;)
check out
lbry://@movie#7381dcaa482bdc199934779c7aa39922f0342582
for great content
loves your blog.
Great stuff @heiditravels! Loved your video! You are really pretty! :)
Great information!
Great blog! Check out my new post @the.dajboz follow me! :)
Thanks. interesting!
LBC will reach 40k satoshi soon!
Nice read! :)
will be jumping on the trade ... after due diligence of course .... ..txs
Its a very interesting project.I have seen it.I will definitely concentrate this project and research.Thank you for brought up in this platform..Thanks again
Thanks for the tip @heiditravels! LBRY definitely looks worth investing. 😊👍🏻
nice read :)
very glad to come across this,because i saw it on poloniex and i thought it a great opportunity to get in now it's a bit cheap.
Very interesting read! I'm curious, if someone outbids your bid for your name, do they then "own" your coin?
Boom....
Creative post!
God job!