"Decentralized, Open Source YouTube Alternative w/lbry.io" - Lunduke Hour - Mar 28, 2017

Not sure if this belongs in Arts & Media, but it's an interesting idea. A decentralized media library that uses blockchains and something similar to bittorrent.

Try it from here

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Oh, my interests are peeking.

I'd be curious to get @wendell 's opinion as a content creator.

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I was about to upload this. Here's my link: https://lbry.io/get

I'm also interested in what @wendell has to say. I'm trying to see what I'd have to do to get this running on one of my cheap VPSs, see if I could make a bit of money from hosting.

What a wonderful idea. Shame it's an ICO exit scam.

Were they actually trying to build a good protocol for people to standardize on, there'd be no built in altcoin monetization.

The guy clearly has no idea what he's talking about on the blockchain side of things. They're using it as a buzzword to sucker people in. Here's some quotes from his eli the computer guy interview:

"Well that's the power of blockchain, that's the problem blockchain has solved -- a blockchain is a database"

"Bitcoin isn't money, money is an application of the database"

"There's centralized bootstrapping in bitcoin"

In addition, he mentions holding off on issuance of the tokens except to insiders "while they work things out." This means they control the majority of the supply of the altcoin that the success of their proposed network hinges on. They can short it as soon as it becomes apparent the project doesn't scale, or take any of hundreds of other exit avenues as soon as the pot gets big enough.

ICOs (and that is exactly what these people are doing) universally only result in profit for speculative traders, and whoever issued the token when they exit scam (there are also some fringe benefits for hackers if the code is bad enough.)

There are good examples of this across the ICO space.

The funny thing is, this isn't even a unique exit scam setup. there's about a dozen on the market in various stages of decay.

  • Steemit
  • IPFS (soon to ICO)
  • Maidsafe
  • TenderMint
  • Moolah
  • Factom
  • Arcade City
  • and many more

Are all doing the same thing or similar, with a different branding and stated use-case

Heuristic: If there is no attached token or altcoin inherent to the technology, it is an honest attempt at innovation. If else, It's a (should be transparent at this point) MLM scheme/Ponzi using tech to make it seem less suspect.

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Coins

Yep, nope, fuck that.

These green tenderfoots ain't got the experience we do. Still though, it's irresponsible to let them get taken because of that.

Cool idea, but what is their solution for different qualities?

One big thing that YouTube does is process the video and convert it to many different resolutions so people with different bandwidths can stream the video. If there is only one file present on the network, then everyone will have to download the maximum quality.

Or is there a way that a producer can upload a video in multiple different qualities that are bundled together? And how does the protocol handle it, if the producer wants to delete the video? Is that even possible?

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They outright say they don't have one, and it doesn't matter anyway, because the network won't get that far before the exit scam happens. Look above for more information.

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From watching half the video and reading the FAQ on their website, I can tell this whole thing is at best only half-baked. It might be a nice alternative to The Pirate Bay etc. but not really for YouTube, at least not yet.

I half bake everything. And I think I'm still doing fine.

:D

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Doesn't need to be fully baked to fleece nerdy teens and venture capitalists.

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Interesting....... I seen that crackpot on youtube :)` I think i even played with the idea.

That's unfortunate. It is a really interesting idea.

I think someone is trying to do something similar on top of zeronet, sans altcoin scam BS. Can't for the life of me remember the project name though.

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Play. It's Called Play.

None of these services are going to go anywhere until you can access them with a regular browser though, scam or not.

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I haven't caught the point where real money is involved. Unless indirectly in disk space or bandwidth. From what I took its a credit exchange for watching an advert, which seems fair to the content creator.

The token can be traded speculatively, and they have plans, along with other crypto exchanges, to act as a go-between to exchange it for real money. It's a Ponzi laundering system essentially. This is not a new scheme in the space.

Not requiring payment for use of service leads me to believe its a viable platform/protocol/system. In fact a sort of currency that can be obtained by issuing a bot to watch ads all day is a fun idea...

Your point of ease of access is the most valid I think, unless people can use the service without additional software and free of tangible trade then it wont get off the ground.

Show me a single similar scheme that wasn't MLM/Ponzi and I'll agree.

The token is completely unnecessary. Payment integration is a flimsy excuse to use this "revolutionary protocol" to fleece people.

I like the Idea as much as you do, but this kind of thing has been going on far too long not to raise HUGE red flags.