RE: Why I mine Bit.Tube and how you can too - TUBE Miners guide - Is this the future of the internet?
Very nice post. I have seen BitTube a while back and I think it is good, but the problem is that its just another unique crypto and I'm sick of them. I just like things like D.Tube that work with the coins that already exist.
Another example being BAT token, I connected it to my sites and I've earned a little BAT, which automatically gets converted to ETH in my uphold account. I think Brave is awesome, but they should work within a current crypto already, Steem would have been a great choice.
ETH/ETC are definitely going to be the fuels of the internet, and BTC/BCH/ZEC are definitely going to be international monies, but Steem is likely going to become the "internet reward system" and I'd like to see that happen rather than a ton of different tokens/coins. At least, I'd like to see stuff like Brave's token be an SMT.
This is not because I'm a Steem fan, its because its just crazy to have a million different tokens for each platform. BAT, TUBEs, TRYBE and stuff are just making the crypto concept messy for newcomers. We just need a few blockchains to be the backbone of everything, and then tokens on them work, but in moderation.
I can see sidechains on ETC creating tokens that act like a credit card or something, but I'd like to see these tokens be actually tied to the base currenccy, such as ethers/bitcoins/STEEM.
Honestly, what I would like to see is something like BitTube being done using STEEM. The site could afford it, because the site can make money from ads/subscription plans such as YouTube does, by rewarding with STEEM (I don't like SBD, too many things going on, wish we'd just ditch the concept). Its logical for a big business to buy up enough STEEM for their reward system, especially with how cheap STEEM is right now. In turn, they'll profit from a very busy content platform.
I agree with you that there are too many coins and it is silly to have a coin for every single thing... we are getting to the point where we need to have a coin for our burger, a coin for our fries and a different coin for our drink.
The reason that they needed to create their own currency is because they needed to be able to adjust the block rewards because the system treats viewers like miners and content creators like miners, something that can't be done using an existing coin.
You can move to about 13 minutes in to learn about the new block rewards coming in 2019.
With BAT, yes they could have used an existing coin with a high supply like Xcash, BCN, Burst Coin, Ripple or anything like that... who knows what will survive and what will not.
Thank you so much for checking out the video and remember, in blockchain we trust!!