LBRY - I think they're on to something
It seems a little odd to go to a blockchain social media content platform like Steemit to talk about another blockchain social media content platform, but here we are.
Actually, a few Steemians have talked about this one, and it got me really intrigued a couple months back - so much so that I "got in line" by signing up on the site. And then I forgot about it.
Will this be one of those "I forgot I had 12 Bitcoin on an old computer and now I'm buying a new car!" moments?
No. But still, let's take a look - a "deeper dive" - into the platform.
What the heck IS LBRY?
It's a content platform - less of a social network, and more of a YouTube killer. You will need to download its blockchain-powered software, which - *surprise! - doesn't get dinged by Norton's antivirus program!
sidebar - I've had tons of issues with wallets and the like that aren't web-based; part of it stems from the fact that I have Norton antivirus on my computer and it tells me that just about everything is going to blow my computer to smithereens. I'll rectify that at some point.
Downloading it puts a little icon on your computer (that looks like the logo above) and then you can start watching.
Points scored...the plaftorm is here! Let's take a look.
I'm trying to watch a video now and it's taking forever.
About 15 Minutes Later...
It was a good video, actually; and it looks like LBRY is going to be a little more "highbrow" than YouTube (where one of my kids is currently watching a video about making candy soda).
As a result of my watching that video, I added a whopping...wait for it...3 credits! Tack that onto the 2 credits I started with and I'm now at...5 credits!
But yeah, just like Steemit, this will take a little time to turn into something - for both the power users and the noobs. I'm happy being a noob.
Next, the Coin Behind it...
At a market cap of $31m, LBRY is ranked 99th. Its price has dropped from earlier this summer - in fact, when @heiditravels talked about it here in June, it was 81 cents a coin. Now? 46 cents a coin - and that's when valued in USD, which is down vs. BTC, which means it's a real bargain.
Why? I'm guessing that, like any startup, they had a couple issues here and there as they launched. I remember signing up, getting "in line" for early access, then forgetting about it.
AND I'M STILL RECOMMENDING THE INVESTMENT
Yes, all caps up there. I realize that, back on July 19, I said that LBRY was still worth accumulating at around the 12,000 Satoshi range. It's still at that range. I'm still a buyer.
Quoting my Metacoin site - which you should totally check out, BTW:
Library Credits – LBC
Ten days ago: accumulate at the 17-18K Satoshi range.
Today’s price: 12910 Sats.
Recommendation: Still a BUY.
This is one of those long-term plays. I don’t plan on swing trading this one, am more thinking that it has the potential to be very much like YouTube for a wide variety of content. I’m still bullish; accumulation at this price point could pay some serious dividends down the road.
Okay, There's Your Deeper Dive
I like it. So much, I'm accumulating still. AND I plan on HODLing. AND I'm going to create content to go there - to augment content I'll create on YouTube and for the Metacoin site.
I was very impressed with LBRY when I came across it two months ago. It was pretty much the first Distributed Video Hosting Service that was usable. So I actually invested some $$$ into it. But now I have exited and am investing in Steem itself.
While most people think of Steemit as a blogging platform, what they don't realise is that Steemit is just one app built on Steem. The number of services built on Steem platform will only increase with easy passing day. In the next 12 months you will have websites which will claim to be
The best part is that Steem can empower all of them. I think the power of Steem as a platform that can enable services is still undermined and Steem coin is undervalued. Steem is the currency for UserEngagement on internet and any website or service which needs to keep their users engaged on the platform can make use of Steem.
So while I see the promise of LBRY for now I have moved my stash to Steem.
Great info...
One thing I noticed about LBRY - I couldn't comment. I love to comment. But I couldn't. Sigh.
Didn't really observe that :P
DTube has uncluttered UI for upvoting and commenting though.
Great post. Thanks for the elaborate breakdown. I tend to agree with you. This is like Steemit when it first started and needs to position itself, but I think it will gain traction. Steemit is just starting to make some noise and I believe Library will do the same Going against mainstream media and youtube is not small feet. It has been around much longer and the backing it has is not small potatoes. I say go long as well. Followed and upvoted you. Feel free to follow back. Cheers
I don't know if you were on Twitter in the early days...I ran a startup back then and absolutely loved Twitter, the interactions with people, the engagement.
I think LBRY could do the same sort of thing.
Another great breakdown Dave. I'll be promoting your content on my Slack SteemitBC group.
Thank you! And, though I don't know what a Slack SteemitBC group is...it does sound intriguing...
https://sbcautoinvite.herokuapp.com/
We're a blogging community that helps one another.
Found this post on steemitbc. I have tried LBRY. didnt really like it to be honest. the fact I had to download something was a put off for me