Sticking it to The Man: LBRY

I finally decided to dive into the world of LBRY and all that it has to offer.

I must say the more I read about it the more excited I got about the project, both from the viewpoint of a content creator and also as a prospective consumer.

Screen Shot 2017-06-23 at 10_Fotor.jpg

I’m an active user and promoter of a different type of social network that incorporates cryptocurrency called Steemit that pays you to post quality content, you also get paid for voting for and commenting on the posts of others.

But LBRY seems very different to me and that has me intrigued.

Let’s take a look at the cryptocurrency for LBRY, called LBRY Credits.

  • Ranked 58th coinmarketcap.com

  • Current Price- $0.82 per coin

  • Circulating Supply- 68 million coins

  • Total Supply- 466 million coins

  • 24 Hour Volume- $5 million

  • Market Cap- $56 million

Available on

  • Poloniex

  • Bittrex

  • Cryptopia.

Poloniex has the biggest volume

The team behind LBRY is quick to give credit to Bitcoin for blazing this new decentralized, distributed, crypto path that they and many others are now able to take advantage of. They also realize that it is far too early to label how exactly LBRY will excel and exactly in which direction.

To quote Mike Vine, LBRY’s marketing director,

“…LBRY is a fundamentally better way to distribute and access all consumer-oriented information…”

They have set their sights on the big five of media- music, movies, video games, tv, and books

It is very similar to Bittorrent in regards to how files are shared, but what makes them different is that LBRY changes what motivates hosts to share certain files by replacing popularity with price.

LBRY can really cater to niche markets by making available obscure pieces of work, be it movies, music or books, to its seekers who are willing to pay a bit more money for them.
Hosts will want to provide anything that will bring in more money.

One aspect to LBRY that has been cause for confusion and concern is their name service.

They’ve designed it in such a way that it ensures the most reputable entity owns the most legitimate name for the content they provide. They achieve this by having an auction-based name service. Essentially this means your name is never “safe”. Someone can place a higher bid for your name and if you don’t counter-offer in the time given for you to respond, you will forfeit that name.

Understandably, since we are so accustomed to the idea that once we own something, it is ours forever, this has made some people a bit uneasy. To provide some relief to those who want to participate yet are not happy with the impermanence of the name service, LBRY is implementing permanent URLs that you can own forever if you chose to go that route.

Looking at LBRY as a content creator

Of course I'm excited for the prospect of connecting directly with my audience without a middle man named Youtube that has the power to shutdown my channel if they suddenly decide that my content is not in line with their advertisers ideals. I can choose to provide my content for free, or I can set a price per view or per download.

Looking at LBRY as a prospective consumer

I’d be happy to give my money directly to the musician or filmmaker for their work in return for a super fast video stream or download.

I can also see the potential for LBRY being a hub for indie films and otherwise undiscovered gems in music and written works.

If you are at all curious about LBRY I suggest taking a look at their blog, it’s really well written with a great sense of humor and updated frequently.

You can join their waiting list to gain access to the beta version by clicking on this link,

and for a lot more information about LBRY I encourage you all to check out the links and information down below.

Additional Reading/ Sources:

LBRY Website
LBRY Blog
LBRY GitHub
Join the Waiting List for Beta
CoinTelegraph Interview with LBRY Team
LBRY AMA
How LBRY is Different
Type of Content Found on LBRY

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Thank you for bringing this projecy to my attention. Ive seen it but havent paid much attention. I will go back and do some additional research.

Thanks again.

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Also worth mentioning is the fact that LBC (LBRY Credits) is profitable and fun to mine with a GPU.

so its a platform for creators to release content? how is it separate from other platforms out there now?

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Hey Storcogato
here are a few nice links that might answer your questions
usefull links

Very nice put together video! I could see LBRY being used instead of soundcloud....Im a DJ/Producer and this sounds like something that is right in my court. Just another way to display my content.

Thanks for sharing. Nice info :)

I wasn't aware that the urls are changing LBRY, still have yet to look into it fully. I'd probably pay for the permanent one, it's all about branding and even though auctions may be fun.. for stuff like my Twitter handle I know plenty of people want it ;p In general, it's a good idea though. The more of these crypto networks that come out, the more we have to choose from and it improves selection :)

I have a lot of faith in LBRY and can't wait to upload my music to it :)

Great job Heidi! I look forward to your videos!

What Really is the FOCUS of LBRY? OR it is also One More White Sheep in the Herd. Just Want to Know...

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They are basically a decentralised content distribution network, that will allow people to share content and even charge for it if they wish too. They are starting with video, but eventually aim to move on to other types of content too. So for now think of them as a decentralised Youtube :)

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"A decentralised Youtube" I like the sound of that, I'll keep my eye on that to see how it (LBRY & others like it) develops. Exciting times to witness the spread of Decentralization!!!

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yup :) and they plan to be much more than just videos so definitely keep your eye on this one.

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Hey

here are some links i put together when i had the same question
links

I have already join the waiting list for LBRY five days ago. Just waiting the notification to proceed. I can also see big potential.

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I'm already there too

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You don't need to wait for the confirmation as you can download and install it now. It's still only pre-beta but it does work pretty well and a lot of people are uploading content at the moment. I think that it is going into Public Beta in July which is when a lot of Youtubers have said they will give their support.

sounds like an innovative use of the technology by connecting the end-user directly with the content originator/creator-you'll know immediately who's viewing your work without a 'middleman' filtering the results or directing
'eyeballs' to other content that could make them more money. i'll have to put them on my bookmark list. upvoted, resteemed and following

I invested in LBRY right before it took it's dip in value just a couple of days ago. But, the more I learn about this coin the happier I am to hold onto it for the long term. Thanks for the update!

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I have done the same, but I don't care about the temporary dips. This project has great future, it worth to hodl it.

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Agreed. The more I learn about this project, the more I love it!

Nice content, love your posts. I'm following you on youtube and over here. Keep up the great work :)

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Thank you kindly :)

Great article, video ans analysis! Thanks for sharing :)

I think LBRY is definitely a great crypto to get behind. Especially for hardworking content creators trying to make a decent living. Check out Gaby Dunn's article on the difficulties of earning off of Youtube: http://fusion.kinja.com/get-rich-or-die-vlogging-the-sad-economics-of-internet-1793853578

I'm going to check this out an register for the beta. If it's what you say it is this could be a serious game changer wow thanks for the insight. Great post I have upvoted & followed 🙏🙏

Seems pretty cool. Would love to see an update video -- see if your liking it a few months in. Keep us posted!

Nice work on your steemit blog... kick ass sista!!

Caught one of your videos surfing youtube. Great content and super informative. Good to see you in the steem world. #followupvote

phil.jpg

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lol I enjoy the refreshing no fucks given comment, have my upvote good sir xD

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Nice. Have a follow for your efforts.

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Thank you Harley, cheers. I appreciate that <3

Thank you, I've seen this coin move a bit lately and wasn't sure what it did. It sounds like it may be worth investing in!

I've always been super interested in LBRY, thanks for the info! If you're interested in trading crypto currency check my latest post on why I've recently got into Litecoin: https://steemit.com/cryptocurrency/@jhcooper7/my-cryptfolio-investment-why-i-diversified-profits-from-ethereum-to-litecoin

Its an interesting coin

LBRY is indeed a coin with potential , invested some in it . Great video miss, do you mind doinga video about siacoin? would love to hear your opinions

I read your post because yesterday I discovered LBRY. I did not hesitate and I am now waitlisted. It is indeed exciting that users will be in charge of their own content and pricing. I am beginning to feel the true disruptive nature of the crypto-world in every way!!! Yay!!

Just finished watching the video and I must say I am very impressed. I too am not very comfortable with having YouTube in a position to shut me down according to their own corporate whims. LBRY sounds like an exciting new project to get involved in as a user as well as investor. Joining the waiting list for Beta ASAP. Thanks Again!

I'm a beta user of LBRY and really like the concept! Sadly I had to deinstall the app because it made my laptop super slow. I'm sure that's just growing pains and will change in the future (maybe it has already).
I was also super impressed with their service (they helped me back it up so I could safely uninstall it without losing any of my credits).
I'm keeping an eye on them, I think they have a lot of potential!

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What did you like most about the app? How long ago did you uninstall it? I haven't had the chance to talk to anyone who is/was a beta user until now :) It's great to hear they have a good help service.

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I installed it back in April and uninstalled it tree days later :) because it was just too slow (but they had this feedback already and might have fixed this by now).
I do like the layout of it and it was pretty easy to navigate as a user.

The publishing process was not as intuitive though and quite confusing. I don't remember the details but I made a few mistakes and I'm not sure if I ever ended up publishing or if I gave up :)
Persionally I would prefer if it were a webpage like steemit rather than a separate app.

Steem and LBRY could both become very big. LBRY still relative low cap. great video and info!

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Waiting to see what Synero does with their "WildSpark" etc

This is an interesting idea. That is, I can write, for example a book, or a song, and give them? They will place and pay crypto currency? Do I understand correctly?

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Basically you can upload your content to their platform and you can chose to let your audience view it for free or at a price that you set. You get paid 100% of the profits that come from your audience paying to view/use your content.

Boom....

Great blog! Check out my new post @the.dajboz follow me! :)

Creative post!
God job!

LBC will reach 40k satoshi soon!

It says Wait list....Did not understand much but joined. Is it still under beta testing? do we need create login and password? it didnt let me do anything except giving me an option to put email.

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It is in beta phase but invite only, if you submitted your email you have joined the waitlist and will be notified when you can join the beta phase.

I read your post but its lengthy, so i feel tired but i got the about your project

hmmm sounds great

Nice read! :)

Great stuff @heiditravels! Loved your video! You are really pretty! :)

I have been looking for some genuine source about it. You have made it so simple for a lot of people like me.

Sounds good innovation, very interesting info, thank you very much

I'm new to this, and will have to look into this further! This would be a game changer since soundcloud is such a HUGE platform for musicians to promote their work

excellent posting I will also post this type of project soon.... thanx for sharing I got much info from your article I hope your info will help me to share my article
Upvoted and resteem

Thanks for the info! I'm interested in anything that has the capability of replacing the old social networks

Great job Heidi! Here's some additional information for you and everyone else. Two days ago, the CEO of LBRY, Jeremy Kauffman, did a live event on YouTube to bring everyone up to speed on where they're at. One of the things he mentioned was that the Beta would go live to the public by the end of July. A few days ago I got an invite from them to access and explore the beta. And right now, if someone wants to cut in front of the waiting line, all they have to do is join LBRY's slack channel and simply tell them you want to get access to the beta. Jeremy said that sending emails for the same request would not be a good idea as they are swamped with emails and any email response could be severely delayed. Have a wonderfully decentralized day!

LBRY is certainly very interesting. As a developer I really liked the honest way the dev answered some of the questions on the recent live event. He doesn't pretend that everything is figured out yet for example when it comes to scaling.

))..я думаю пиарить их в Twitter

Thank you.This looks like having some prospects.One concern I would have the market size they r addressing.With a low market cap it indeed is attractive for investors

I just came up with a new name for Steemians... I call us
STEEMERITES now... Especially my Followers... See Post...
@pocketechange

Seems complicated. Another coin... another wallet. Will try it during vaca if I have time.

Still has potential. Thanks for the update!

great info, heidi! thanks! upvoted and followed :)

very interesting project, thanks for explaining :-)

My dream is to have 500 dollars falling on my head T.T

will be jumping on the trade ... after due diligence of course .... ..txs

Really nice! LBRY sounds to be very promising for the future!

Thank you for bringing this is good projetecly

LBRY is one of my strongest pick for a long term. Thanks for the article, this is just increased my confidence in it.

Excellent content. This is the most comprehensive guide I have found on LBRY to date!

Excellent post, will be checking LBRY out soon... thanks

I am excited Thank you for the update!

Its a very interesting project.I have seen it.I will definitely concentrate this project and research.Thank you for brought up in this platform..Thanks again

Another valuable currency from @heiditravels.
A small doubt, how did you dig out the 58th ranking coin?
How do you identify these potential coins ? A little bit curious to know your style of working.

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I read about it a while back and occasionally I get suggestions for crypto projects that people want me to check out so I took a look into this one and found myself liking the idea and the guys behind the project seem to have their "heads on straight" so I thought it deserved more attention :)

I also take a look at the supply of coins and if they are capped, and also reference the daily volume to see if there's much action in the markets for it.

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Oh... That means you had all future posts and analysis scheduled to shoot out in time.

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I definitely don't schedule my future posts lol I could probably be more organized but essentially I make videos based on what catches my eye.

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May be you are rare talent, who don't need much ground work to present yourself better out here....
Besides I became a fan of your work.
Keep rolling!!

Great post @heiditravels. I have been also looking at LBRY. It is a very interesting concept that may blend nicely with Steemit. Steemit, with the 7 day payout limit, is more tactical. However, for more long-term content, LBRY may be a good path.

Either way, the LBRY team has some good ideas and traction. I am also looking into mining a few of those coins, although they don't yet have a GUI wallet :(

Thanks, yet another excellent tip. I will be investing.

I posted about this coin awhile a go. Good longterm investment.

Any cryptotraders on Facebook, please check out.
https://www.facebook.com/groups/SteemitCryptotraders/

I've been excited about LBRY since I learned about it a couple weeks ago. I'm still waiting for approval but I can already see big things coming from this platform. I've been buying and holding credits as well.

Thanks for a great post. Looks like it might be a particularly good time to get in since the price is way down (hopefully temporarily) - right now its $.74, so about 10% lower than it was when you posted, and it was a good price then too :)

been hearing more and more about this..

follow me on twitter for more #crypto news, comments, memes, questions, and shittalking... https://twitter.com/bitchimlying

Thanks for the tip @heiditravels! LBRY definitely looks worth investing. 😊👍🏻

I Love Heidi in Camo !!!

Thanks. interesting!

Thanks for sharing Heidi :)

This project is a distinct one and who knows maybe it can have a shot to becoming the next YouTube, soundcloud or even medium.

It definitely has a bright future. However for now I'm more a fond of steemit obviously.

Have been following you for a very long period of time. You changed my perspective on life dramatically.

Yes, interesting you post

Careful wearing that camouflage shirt; you'll blend into the background and disappear...

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I'm surprised you could even see me! I need to invest in better camo.

Nice info! I also just found out about it. I made a small article for the basics if your interested.

LBRY

Thanks for sharing

LBC has been in a BOOM lately

Thanks for this great video. I have written a few articles about LBRY myself and already started to buy some coins. I belive in this project and I think it can change entire industries at once. But I also think it will take a while before it kicks off. We will see Steemit succeed first.

Didn't know much about LBRY. Thanks for the info!

nice read :)

thank you so much for this opportunity

I was interested at the beginning of it and the i forgot i'll have another look at it thanks ;)

very glad to come across this,because i saw it on poloniex and i thought it a great opportunity to get in now it's a bit cheap.

Hey, great vids

what make you especially excited about this project ?
Is it more the free or the paid content side ? Or something else ?

You convinced me to buy some LBRY! I am glad that I watch all your videos! Thank you and keep up the good work!

Should I be worried about the fact that over the next 20 years 1 billion coins will be released? Won't this cause those holding coins to lose value? Please explain why I'm wrong I really want to invest but I just keep getting stuck on the amount in circulation vs amount going into circulation.

I am very interested in LBRY too @heiditravels! Follow me, lets collaborate on LBRY when its fully launched.

LBRY sounds like a very exciting, innovative kind of cryptocurrency. I'm glad to have found out about it. Thanks for sharing this!

Very interesting read! I'm curious, if someone outbids your bid for your name, do they then "own" your coin?

I love this idea. I think it would be a great way for people to share high quality courses and video products. Just think, we wouldn't have to rely on places like vimeo or udemy anymore and could simply publish, set a price and be done. This is a great concept and I'm excited to be living in the "golden age" of blockchain and decentralized applications.

@heiditravels i like that you actually do a little research and present that information. It makes your posts/videos much more valuable. You also don't waste time with nonsensical babbling, etc. Upvoted and followed. keep it up!

Congratulations @heiditravels

You took 35 place in my Top 100 of posts

check out
lbry://@movie#7381dcaa482bdc199934779c7aa39922f0342582
for great content