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RE: What is bit.tube?
I dont understand how the token can have value?
How is value created just by printig token and giving it to people ? Where is demand or utility comig from?
I dont understand how the token can have value?
How is value created just by printig token and giving it to people ? Where is demand or utility comig from?
The crypto is mined (proof of work). It has the same utility as any other crypto in terms of using it as a store of value and as a currency. Ultimately the value will be determined based on adoption and how popular it is. I think the unique thing about this crypto is that part of the mining is done by users watching the videos and this is used as rewards. Otherwise it is like any other proof of work cryptocurrency (e.g. bitcoin).
I think that a decentralized video platform as feature rich as youtube and that works well could be very successful. And if there is a crypto associated with it (like this one) then it could become very popular as well. In my opinion, DTube and DLive simply don't work as well as youtube or have as many features but they have the opportunity to mature as time goes on. I haven't tried bit.tube yet to know how it compares.
Whats the inflation?
My issue is i only see that supply is being created, but i dont see how demand is generated. Why would i need these coins?
Why would you need Bitcoin? Or Ethereum? Or Litecoin? Value will be determined by demand which will depend primarily on the success of bit.tube as a platform.
As far as inflation, the block rewards will gradually decrease as the circulating supply increases (see the graph here: https://coin.bit.tube/guides/crypto/blockchain/rewards/). The max supply will be 1 billion coins in circa 2050.
Also, it looks like future premium features are planned that would presumably require BitTube coin. This coin is categorized as a privacy coin so it would have the same advantages as something like Monero.
Here is a FAQ here with more useful info: https://www.reddit.com/r/BitTube/comments/8lk12r/faq_frequently_asked_questions/
I am not a big fan of D.Tube but have been rooting for it. So I am very glad that you introduced me to bit.tube @knircky. It seems better organized.
Allow me to rant :)
Few in the crypto space focus on the value of content. I have got to believe that at the end of the day when our new market matures, many will be saying, why did it take so long to realize that information about blockchain needs to be distributed through blockchain, far and above platforms like Medium and Reddit (respectable as they are).
image from pexels
I know it is a give and take over content quality , but it is hard for me to wrap my head around looking for blockchain info via Google search. Google seems 85% part of the service industry and maybe 15% contributing to our information society (original, non-fake, useful content).