LBRY CREDITS - Unmoderated Thread - LBRY.IO





  • What are the LBRY Block Rewards?



    Only Trust the Source



    The source code, and not this file, is the only true definiton of the block rewards. That source file is located here in [master]:



    https://github.com/lbryio/lbrycrd/blob/master/src/...



    1. Reward Schedule



    Eventually 1,000,000,000 LBRY credits will exist. They are awarded on the following schedule:



    The genesis block creates 400,000,000 credits to be administered by LBRY, Inc. 300,000,000 of these will be strategically allocated to partners, many of whom have a direct interest in the naming layer. It also includes 100,000,000 earmarked for charity. Additionally, some may be given directly to the public in ways that add value and make sense. 100,000,000 are owned by LBRY directly.



    The remaining 600,000,000 are mined in 3 stages:



    1. The first stage goes from block 1 to block 5100, and will take roughly 9 days. Every block in this stage has a reward of 1 credit. This is the testing stage, to ensure that there are no glaring problems with the blockchain.



    2.The second stage is the ramp-up. It goes from block 5101 to block 55000 (roughly 3 months of mining). During this stage, the block reward increases linearly from 2 to 500. 500 is the largest block reward available.

    3.The final stage is the "normal" mining stage. From block 55001 onward, the block reward decreases logarithmically over the course of 20 years.
    Block rewards ramp up slowly because we want to ensure that users are given some time to get LBRY up and running, and to avoid unfairly benefitting the earliest users.





  • How Is LBRY different from iTunes, Storj, YouTube, BitTorrent and Others?

    LBRY is a revolutionary technology that is poised to challenge a remarkable number of businesses – YouTube, Netflix, iTunes, Kindle Store, Audible, Steam, and so on.

    Here, we’ll try to tackle a few comparisons that have been frequently asked of us.

    How is LBRY different from YouTube / Netflix / Apple TV?

    YouTube, Netflix, Apple TV, and other similar services are centralized platforms controlled by a single corporate entity. These companies can change the rules unilaterally, as well as censor content to appease authoritarian governments or corporate partners.

    LBRY is a decentralized, open-source protocol that is controlled by its users. LBRY facilitates a similar experience to the aforementioned services, but does it in a way that is entirely decentralized. LBRY can never unilaterally change the rules on publishers or consumers, making it dramatically trustworthy.

    How is LBRY different from IPFS / BitTorrent?

    IPFS and BitTorrent are wonderful technologies from which LBRY has drawn a lot of inspiration. However, they both suffer from the same flaws:

    • Lack of discovery. BitTorrent and IPFS provide decentralized ways to access a unique piece of data or information, but they do not provide an overall catalog that lists all of the available data or information to consume.
    • Ugly URLs. BitTorrent only provides access via long, complex magnet URLs. IPFS supports human-friendly naming via IPNS, but this is an after-the-fact hack and does not provide a single, authoritative, user-friendly namespace the way the LBRY does.
    • Lack of monetization. Neither BitTorrent nor IPFS support payments to publishers for the content or data they create and publish to the network*; LBRY does.
    • Incentive problems. BitTorrent and IPFS rely on people being generous with their own resources for data to continue to be available. LBRY creates market incentives for data to be as widespread and available as possible.

    *Yes, there are attempts to add this via a layer on top, but LBRY bakes it in.

    How is LBRY different from MaidSafe / Storj?

    Maidsafe and Storj are attempts to be decentralized platforms that enable many uses, rather than a decentralized protocol designed to serve a singular purpose.

    LBRY is designed to do one thing and only one thing well: the discovery, access, and (optionally) purchase of digital content.

    By being designed from the ground up for a highly specific purpose, LBRY can both deliver better performance and move faster than attempts to create a similar system on top of other decentralized platforms. All three ventures are in an early stage, so it is an open question which will achieve mainstream adoption.

    How is LBRY different from Decent / SingularDTV / Alexandria?

    The first, and biggest, difference is that LBRY exists and has significant traction. As of this writing, Alexandria is the only one of these to release a client to the public, and there hasn’t been much progress since that release.

    It's difficult to compare LBRY to something that doesn't exist yet, but as we understand it, no alternative is providing a human-friendly namespace and discovery mechanisms like LBRY.

    Additionally, LBRY is the only one of these three to see significant backing outside of the cryptocurrency niche. While we love crypto, we're aiming to be a mainstream, household technology. To that extent, the fact that LBRY has backing from major VCs, tech companies, and Hollywood studios says a lot.

    Finally, unlike almost every blockchain company, we've never sold coins to the public. We've put ourselves in a position where the only way we make money is if LBRY is a long-term success. To us, having "skin in the game" is a moral imperative.

    How is LBRY different from a toaster?

    Toasters transfer heat via radiative EM waves in the infrared spectrum to brown bread and make people happy.

    LBRY transfers data via EM waves in the infrared spectrum* to deliver content and make people happy.

    LBRY is also brave and little. So we’re basically, fundamentally the same as a toaster.

    *Assumes fiber-optic transmission.

    Learn More: Read the Full FAQ



  • Open Beta? New Features? Keep Your Eye on the LBRY Roadmap


    LBRY is working hard to improve our communication with the public. While the vast majority of our time is put into building LBRY, we want to remain transparent and do more to keep those interested informed. In the past couple months, we have :

    But LBRY is a ground-breaking technology, so the real (and most asked) question remains – when will it be available to the public? Your wish is our command line. We present to you…

    The LBRY Roadmap

    Our roadmap will keep you up-to-date on LBRY’s development as we release new versions (every two weeks) on the way to a full public release. It contains:

    • A history of previous releases and features.
    • Immediate and forthcoming updates.
    • Broader development goals.

    The nature of pushing into new frontiers means we must to some extent chart the course as we go. It’s a measure-twice-cut-once plan; we want each release to progress smoothly, with as little backtracking as possible.

    Along the way, we are actively taking feedback from beta users and testers and incorporating it into the development, which will affect the timeline. So keep a close eye on it, because it will be fluid. Here are some big milestones coming up:

    • Windows version of the LBRY app to be released next week
    • Publisher channels in November
    • A technical white paper by February

    Check out the roadmap for more details and upcoming developments.



    Author

    Jeremy Kauffman

    Jeremy is the creator of TopScore (usetopscore.com), LBRY (lbry.io), and that joke where the first two items in your list are serious while the third one is a run-on sentence.

    Photo of Jeremy Kauffman



  • LBRY now on Windows. Bringing Blockchain Video to the Masses.

    The LBRY beta app is now available for Windows! This has been the #1 request from users since our launch in July. Now the future of digital content distribution is available on the world’s most popular desktop operating system.




    LBRY is currently compatible with Windows 7 and higher. That’s 90% of the desktop OS market! The Windows app has full functionality, including the ability to:

    • Search, browse, then download or stream all LBRY content.
    • Upload original content.
    • Send LBRY credits (LBC) between users.

    Check out this short demo video:





    • 0:05 – Discover: LBRY’s home content discovery screen. Content on the left is featured and updated by LBRY. Content on the right comes directly from community bids.
    • 0:11 – Streaming a video.
    • 0:31 – My Files: Browse the content you have downloaded or published to LBRY.
    • 0:44 – My Wallet: Check your LBRY credits (LBC) balance, view your transaction history, send LBC to others, and copy your wallet address to receive LBC from others.
    • 0:53 – Settings: Control various LBRY settings.
    • 0:58 – Publish: Upload your own content to LBRY. Find out if a LBRY name is available and bid on it. Set a price for your content and add useful metadata.

    LBRY is a content-sharing and publishing platform that is decentralized and controlled by its users. It allows content creators to post their works to the hosting network, set their price per view/download, and collect payment.

    LBRY is an open-source protocol, as opposed to a centralized service, so there is no entity to take a “cut” of transactions or change the terms in an attempt to monetize the product. It’s like a new extension of the internet for delivering all media – films, ebooks, songs, and apps – from creators directly to consumers with radical efficiency.

    Not on LBRY yet? Get an invite here. Know some great public domain content to share? Have high quality scans? Email [email protected] for a trip to the front of the line.


    Author:

    Jeremy Kauffman

    Jeremy is the creator of TopScore (usetopscore.com), LBRY (lbry.io), and that joke where the first two items in your list are serious while the third one is a run-on sentence.





  • Crudely Satisfying

    Last week, one feature film. This week 100% more.

    It's a classic indie comedy double feature that’s actually funny. If you haven’t discovered these flicks before, you’re in for a treat.




    has a ridiculous yet effective premise: two local lawnmowers have their neighborhood business displaced by a chiselled-jaw competitor and his band of hot lawnmowing babes.

    It won the Special Jury Prize in 2010 at the legendary Friar’s Club in New York. On the heels of success, director Mark Potts immediately went into production on his next film...





    Cinema Six
    also exceeds my expectations in terms of incredibly creative uses of excessive profanity.
    -Don Simpson, Smells Like Screen Spirit

    Cinema Six is a rare film that foreshadowed many career explosions since its 2011 opening: It’s a Disaster producer-actor Kevin Brennan, former SNL and Trainwreck star Bill Hader, multi-Sundance selected character actors John Merriman and Chris Doubek, and many more behind the camera.

    About Singletree Productions

    Singletree was the original creative outlet of writer-director Mark Potts. He also writes for another LBRY Creator’s Club member HeckBender, wins Pulitzer Prizes at the LA Times, and loves pug son, Gizmo.

    Not on LBRY yet? Get an invite here. Do you make great movies? Email [email protected] for some red carpet treatment, LBRY style.


    Author

    Reilly Smith

    Photo of Reilly Smith








  • Political Action via Creation

    A tidal shift occurred this week in American politics.

    At LBRY, we believe in change through creation. The most effective way to criticize is not by speaking, but by creating and doing.

    This week’s films elevate their subject matter while bringing new perspective to the issues they raise. Rather than shouting from the soapbox, they let their documentation speak for itself.




    TPB AFK: The Pirate Bay Away from Keyboard chronicles the recent history of polarizing torrent site The Pirate Bay, along with its creators. If you know LBRY, you certainly know of the legendary Bay. Without the conversations, controversy and technology sparked by Peter Sunde and TPB, the LBRY network may never have come to pass.

    It was once censored on YouTube by Hollywood studios by way of bogus takedown claims. On LBRY, that isn't possible.


    This is arguably one of the most important documentaries in recent memory (and a personal favorite of mine). The late Aaron Swartz, co-founder of reddit, took his life in the wake of impending legal doom. Director Brian Knappenberger went to extraordinary lengths to tell Aaron’s story.

    The Internet’s Own Boy premiered at Sundance in 2014, SXSW, and was shortlisted for the Academy Awards for Best Documentary Film.

    Not on LBRY yet? Get an invite here. Do you make great movies? Email [email protected] to get in on the action.


    Author

    Reilly Smith

    Photo of Reilly Smith












  • Acryptypical: The CEO of LBRY on the Price of LBC

    Background

    I've never been a market hawk.

    I don't read or watch time-sensitive news. It's more likely to make me confident but wrong than informed.

    (Unless there's a natural disaster. If it's going to flood, please text me.)

    My savings are primarily in broad-index mutual funds. I'm a Benjamin Graham man, not a Jim Cramer devotee.

    This is a verbose, haughty way of saying I try to think for the long-term, not focus on short-term fluctuations in public opinion.

    Yet here I am, running a company where people ask me to do the opposite every single day:

    Jamie

    @JTKDGB

    @LBRYio Did you purposely plan to get everyone REKT who have/had faith in you?...


    shuai sun

    @shuaisun54

    @LBRYio The first question is why the price of LBRY coins fall several times in the past.


    So I've written this post as a canonical answer to questions about the price of LBC, as well as to give some insight into the way we think about things here at LBRY.

    Why Price So Low?

    The first-order answer to this question is trivial: there are more sellers than buyers.

    The second-order answer is only slightly less trivial: there is no reason to buy.

    LBRY launched in July 2016. It launched as the barest, minimum proof-of-concept possible. It supported streaming a few videos we had published ourselves and that was it. When we launched, the publishing process was hand-typing JSON into the command line.

    That release showed that it was possible to provide a completely decentralized protocol that facilitates the discovery, access, and purchase of content.

    It showed that we don't have to accept government or corporate censorship of what we want to watch, read, or listen to.

    What it didn't show is that people are ready to immediately change their habits and we didn't expect it to.

    However, proving that the dream of LBRY is possible helped us raise a $500,000 seed round led by Pillar and joined by some other great people like the CEOs of Dyn and Backupify.

    While that money isn't quite enough for long-term thinking, it's enough that we don't have to think for tomorrow or next week.

    When Price Go High?

    Let me start by talking about when the price won't go up.

    It won't go up because we're spending our time optimizing for the thirty-second attention span of the blockchain news cycle.

    It won't go up because we've courted investors to back LBC or made any purchases or orders ourselves.

    It won't go up because we're focusing on generating PR, hype, or the absurd marketing claims that seem to permeate the industry.

    LBC will go up when we've built a product that is compelling enough to change people's habits. A product that causes people to use it instead of YouTube, Gumroad, Amazon, or Streamable.

    LBRY is currently funded until approximately July 2017. We'll be focusing all of our efforts entirely on creating a product that people will love and getting that product in front of the people that will love it.

    Some Promises

    To make a few points extraordinarily clear:

    • We never have, and never will, engage in market manipulation. Neither through direct purchases or orders, nor through the generation of news that is intended to affect the price rather than communicate substance.
    • We will not and have not participated in the market for LBC directly (i.e. buying or selling LBC).
    • We will not speculate about the price of LBC. If you ask us, we'll probably link you here.
    • We will focus exclusively on how we can generate real value for our users by creating a service that improves their lives.

    These statements go for both LBRY, Inc. and it's employees' independent actions.

    What To Do With Your LBC

    If you bought LBC in an attempt to make a quick buck, you may be disappointed. We're not in the game of moving markets and we never will be. On our current trajectory, buyside demand is unlikely to exceed mining generation for months.

    If you bought LBC because you believe of the idea of a world of content sharing without censorship or middlemen, hold onto it (or spend it to buy some of the great content being added every day!). We've got an incredible team of bright, talented people that are pouring an incredible amount of time in to actualize it.

    And if you're interested in participating in creating that world, come hang out with us! Join us on Slack, GitHub, or Twitter.


    Author:

    Photo of Jeremy Kauffman

    Jeremy Kauffman

    Jeremy is the creator of TopScore (usetopscore.com), LBRY (lbry.io), and that joke where the first two items in your list are serious while the third one is a run-on sentence.






  • LBRY-Ceci n’est pas une pipe

    If you thought your thanksgiving dinner party was about to get weird… you ain’t seen nothing yet. This week we bring you: Coherence.

    An ensemble piece. Science fiction. Horror. Coherence is a stroke of independent film genius that only graces us once in a blue moon. Or in this case, a blue comet.


    Coherence is not just smart science fiction: it’s a triumph of crafty independent filmmaking, made with few resources and big ambition… it has that thing we always hope for at the movies: the element of surprise.
    -Ryan Lattanzio, Indiewire

    On top of that, we're putting all Oscilloscope titles (and then some) on sale from tomorrow, November 17th. It's the first annual Too Soon? Black Friday on LBRY.

    Oscilloscope Labs LBRY Black Friday Special

    ICYMI

    About Oscilloscope Laboratories Oscilloscope has released academy award nominated films such as Embrace of the Serpent and Banksy’s documentary Exit Through the Gift Shop, off-beat indies like James Franco’s Howl and new cult favorites like Girl Asleep and The Fits

    Not on LBRY yet? Get an invite here. Do you make great movies or have a lively YouTube channel? Email [email protected] for some red carpet treatment, LBRY style.


    Author

    Photo of Reilly Smith

    Reilly Smith








  • LBRY - Listen Up


    One of our most requested genres of content is comedy. So we’re hitting a few birds with one stone: comedy + podcasts.

    The first three podcasts to ever join LBRY are:

    -You Should Have Planned Better with Jay Light and Leah Lemarr

    -Inappropriate Earl with Earl Skakel

    -Why Do You Care?! with Katie Allinson and Will Moyer




    Jay, Leah and Earl give rare insight into the world of rising standup comics. All three are known for their antics on Comedy Central’s Roast Battle as professional roasters. Each podcast features candid conversations with up-and-coming comedians in the Los Angeles and New York stand-up scene. If you want to find hidden gems in comedy, they’re here.



    Katie and Will keep the candid going and add a dash of deep analysis: from why Game of Thrones is a bad show, the history of James Bond, to the structure of storytelling… if you watch it, they beg to differ.


    Author

    Photo of Reilly Smith


    Reilly Smith





  • Tis the Season


    Another month, another holiday. And not just any holiday… this one has theme songs.

    So, to expand your Christmas music palette, we bring you: Jingle Bell Rocks.

    The seedy underbelly of the Christmas music world is your ticket to freedom from dreadful, ear-splitting Christmas tropes of old. You don’t have to suffer! There is a better song out there!

    Jingle Bell Rocks is a can’t miss, one-of-a-kind documentary.


    A surprisingly bittersweet doc.

    -John DeFore, The Hollywood Reporter

    If you like Christmas music, you cannot miss this movie. It’s everything a holiday music fan could ask for. Featuring great songs that stray from the norm, and a group of people who know all about a love of the season, this movie will brighten your holiday.

    -William Brownridge,Toronto Film Scene

    Check out the rest of the LBRY film playlist

    About Oscilloscope Laboratories Oscilloscope has released academy award nominated films such as After Tiller and Banksy’s documentary Exit Through the Gift Shop, off-beat indies like James Franco’s Howl and new cult favorites like Girl Asleep and The Fits

    Not on LBRY yet? Get an invite here. Do you make great movies? Email [email protected] for some red carpet treatment, LBRY style.