Why BitTube May Soon Challenge YouTube
With more and more YouTuber's channels being demonetized in recent months for unspecified reasons, many video content creators are searching for alternatives to the video platform. I've mentioned previously that #DTube is a good option but now a new platform called BitTube may end up being the one that challenges YouTube for the throne.
There are several reasons why I think this might happen, which I'll explain. First though, let's learn a bit more about this platform.
What is BitTube?
BitTube is a fast-growing network designed to empower video creators and live streamers, entertaining far-reaching audiences through a seamless user experience — ad-free and always monetized. **coin.bit.tube **
BitTube is a video platform similar to YouTube where contentent creators can upload their videos and be paid for it. There are some differences, however. Unlike YouTube, BitTube is decentralized. Also, in addition to creators getting paid, viewers also earn currency. That currency is called TUBE.
What is TUBE?
TUBE is the #cryptocurrency that is paid out to users' online wallets. These wallets are automatically generated when you create a BitTube account. Creators and viewers earn TUBEs when a video is watched.
How Much is a TUBE Worth?
As of this post, not very much but it's likely to go up in value once more people start using the platform. Don't forget, you can always hold onto your TUBEs and wait for the value to rise. You don't have to cash them in until you're ready.
How Will Revenue Be Shared?
With each block created, a 30% slice of that is reserved and that slice is further divided into more slices, with rewards distributed as follows:
- 70% to Publishers (Airtime)
- 20% to Viewers (WatchTime)
- 5% for Marketing
- 5% for Platform
Reasons Why BitTube Will Be Successful
I created an account on BitTube about two weeks ago. Since then, I've been reading up on it as much as I can and watching tutorial videos from those whom have been on it longer. From that, in my opinion, BitTube will succeed for the following reasons:
1. Add-free and Always Monetized
BitTube videos do not have ads of any kind and they are monetized from the moment someone watches them.
Since there are no ads, there's no concern for you if someone is using an ad blocker while watching your videos, like there would be on YouTube. Therefor, you are guaranteed to earn something on any of your videos that are watched.
2. Viewers Earn Money Too
On Bitube, not only do content creators get paid for their videos, so do the viewers!
When you watch a video on BitTube, you earn TUBEs, as long as you have a registered account. The more you watch, the more you earn. Remember, this is without being interrupted by ads.
You don't see YouTube doing that, do you?
3. No Payment Threshold
Unlike YouTube, you do not have to meet a minimum payment threshold before your earnings are paid out. Earnings on BitTube are paid out after 7 days with a rolling window from the time your content was watched, regardless of how little it is.
For example, if you upload a video on a Monday, you will be paid what that video has earned, on the following Monday, even if it's very little.
By contrast, let's suppose you have a $100 payment threshold on YouTube and your earnings are $90. You have to wait until you earn another $10 before you get paid. Who knows when that will be? If you're a small-time creator, it might be a while before you reach that threshold. The $90 you earned might have been over a period of four or five months or more.
With BitTube, you would not have to wait to be paid. So BitTube's payment system is very friendly for the smaller content creators.
4. No Subscriber/Watch Time Minimum
BitTube does not require you to have a minimum number of subscribers, to be monetized.
YouTube requires a thousand subscribers in addition to 400 hours of watch time in a year before your channel is eligible for monetization. 400 hours?! You could be earning Tubes for all that watch time.
By the way, that's still no guarantee that your channel will remain monetized. Despite meeting those requirements, YT demonetized my channel after four years, without an explanation.
5. No Earning Limit
Unlike DTube, which has a 7 day time limit in which a video can earn currency, BitTube has no such limit.
That is what's most frustrating about DTube. It took a step forward in comparison to YouTube, by getting rid of ads. Putting a seven day earning limit on videos however, is extremely limiting and almost nullifies the whole purpose. I think a video should earn for as long as it's available for viewing, especially evergreen content.
In defense of DTube, it's built on the Steem blockchain and it's the blockchain that has set this limit. Steemit would have to be the one to change it.
So if you upload a video on BitTube, a year from now, it will still have the potential to earn currency, provided that viewers are watching it. The same for five years from now or six years, etc. Exactly how it should be.
In fairness to YouTube, videos on its platform also have limitless earning potential but there's all those ads to watch. Several viewers use ad blocker too. Oh, and the hottest thing trending on YouTube is them demonetizing channels. So much for the earning potential.
6. It's Decentralized
The platform is not centrally hosted and is accessible via IPFS hash, making it exceptionally resistant to censorship. In future updates, video metadata and IPFS hashes will be stored on the blockchain for added immutability. - coin.bit.tube
This means that you can have controversial topics, with no risk of being censored or demonetized.
7. Earnings Based on Airtime
Airtime is the term BitTube uses to describe "watch time."
Videos earn TUBEs for the creator and viewer, when viewers watch them. The more airtime a video has, the more it earns. In other words, the amount of time spent watching a video is what earns it money. If you watch a 20 minute video for only one minute, it earns you and the creator, TUBEs. If you watch the entire video, it earns both of you, more TUBEs.
The number of views a video has is not a factor in earnings.
By contrast, videos on DTube only earn when they are upvoted by users. This means it's possible to watch a video on DTube without it earning anything, for the viewer and creator. On BitTube, if a video is watched even for a few seconds, it earns something for both the viewer and creator. No need to upvote or like.
8. Even Playing Field
BitTube pays you the same no matter where you are located.
Some of you might not realize that a YouTube video watched in one country might pay less than the same video watched in another country. That's because advertising rates are lower in some areas and so you would not earn as much.
No ads on BitTube means no advertising rates to worry about. It's an even playing field for everyone.
So nobody's watch time has more value than anybody else's. This is in contrast to DTube, where voters' upvotes on a video, vary in value depending on how much Steem Power a voter has. Many voters do not have a lot of Steem Power and their votes are often worth less than one cent.
9. Earning with Browser Extension
I've been watching your YouTube videos on BitTube and getting paid for it.
How am I able to do that, you ask? With a browser extension called the BitTube Redirector. This extension allows anyone to watch YouTube videos on BitTube and earn TUBEs, as long as you create an account on BitTube.
However, if I'm not mistaken, I would earn more for watching videos that are native to BitTube. So all of you that I'm subscribed to on YouTube, please migrate your content to BitTube and we both win. Here's a secret I'll share with you.You can import your entire video archive from YouTube to BitTube with about three clicks, thanks to the latter's import tool. It doesn't get any easier than that. It seems to me you would have nothing to lose by trying it out. Otherwise, you're leaving money on the table.
BitTube is also developing its own official browser extension called BitTube Airtime System. Here is its founder and CEO, Saber Maram, explaining how it works.
You'll also be able to use it to browse websites without seeing ads, since it will have its own built-in ad blocker.
UPDATE: The Airtime extension is now live (beta) and you can install it using my referral.
10. Debit Card
Maybe the coolest thing about BitTube is that it has its own debit card.
As we promised a month ago, we have been working on the issuing of a debit card. This will allow you to spend your BitTube wallet funds conveniently in any store with a POS (Point-Of-Sale) system or withdrawing local currency from an ATM.
To get your own card, you'll have to stake 5000 TUBEs to the web wallet. When you get it, you'll be able to make purchases with it wherever Mastercard is accepted.
Another incentive for getting the card is that card holders will get the BitTube Pro membership for free. Among other perks, it includes:
- ability to upload 4k and 8K videos
- multi bitrate streaming
- video encryption
- offer limited time or lifetime premium videos
Pre-register for your debit card.
You Couldn't Pay Me to Watch That!
That statement will be put to the test with BitTube's viewer reward system. Manos: The Hands of Fate is a notoriously bad, public domain movie that many have tried to watch and failed to make it past the ten minute mark. With a monetary incentive from BitTube, maybe more people will give it another try and watch the whole thing.
It would please the Master.
Earn While You Learn
As I mentioned earlier, I watched several tutorial videos about BitTube, on BitTube's platform. I had to use the YouTube versions here on this post because the BitTube videos would not display properly.
I took the liberty of creating a Tubetorial playlist (see what I did there?) that you can watch and learn from, if you like. If you do watch it, do yourself a favor and create an account on #BitTube first. That way you can earn while you learn, like I did.
As I said, I'm done watching videos on YouTube. If a platform like BitTube is going to pay me to watch videos and the other one isn't, guess which one I'm going to choose. It's a no-brainer.
BitTube makes much more cents.
What do you think about this #crypto?