LBRY Case Study .:. Crypto Is Dead Mini-Series #2

in LeoFinance4 days ago

If you follow me on Hive, you have probably noticed that sometimes (when the 3Speak platform has problems) I embed videos from the LBRY video platform... I'm not hiding that at all, as a matter of fact, most of my videos I publish there, too...

As they are usually HIVE related, I promote our platform at LBRY, and I have noticed that some people started to create here thanks to my videos published there...

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image created in canva.com

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So, how to explain what is LBRY?

LBRY is a decentralized blockchain social media platform mainly focused on providing people to publish their video content, but all other content is also welcomed... You can publish a regular post, or an image, or even a game on their platform...

As you are reading this on Hive/LEOFinance, you probably know how this platform works regarding rewarding authors and curators... Well, on LBRY curators aren't rewarded for liking stuff, but content creators are... The current model wasn't like this before, and it is implemented a few months ago...

The main idea was to create a platform where people can tip each other for their content, but there were also automatic rewards that were distributed among authors that staked (supported) some content... As that showed ineffectively as some people would post low-effort content and support with a large stake just because of high returns, they have changed the rewarding system...

Currently, supporting content can help you with your content "visibility", but your rewards depend on more factors like a number of views, a number of likes, re-posting number, etc...

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Problems, Growth, Support, Community

I have to say a few things about these things... As video content isn't easy to storage, the hosting solution which is used on LBRY is similar to torrents, as data is distributed on more location and members can support it by leaving their LBRY apps opened for seeding... As for that, LBRY has some problems with lawmakers in certain countries and will probably have more in the future, but things are getting solved and moving forward...

Like Hive, I think that growth is imminent for #decentralized social media platform, and LBRY showed the potential when YT banned some crypto channel in December 2019, when the LBRY platform got a huge amount of users and publicity... With all censorship that is happening on centralized platforms, Hive and LBRY have a bright future...

I can't say enough about support, and FAQ in general, for LBRY... I had a great experience with both when I had some problems at the beginning a year ago... Also, the community is growing every day, and you can find them on Discord.

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Let's Talk About LBRY Price

As I said before, LBRY has some interesting history because of its comparison with some traditional, centralized social media video platforms... So, every time YouTube does some nasty thing like banning people or changing their AUP, or TOS, there are some spikes in the price of LBRY price...

But, if we take a better look at the chart, we can notice that, compared to other cryptocurrencies, LBRY actually is on the uptrend in the last year... It had two big spikes in price at the beginning of the year, and in mid-May, but it didn't make lower lows, which is very important thing...

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Screenshot from coingecko.com

Also, if you pay more attention to the lower part (under the graph), you will notice that trading volume in the second part of this year is significantly higher than it was in the first half...

Also, in the last 2 months, the coin is doing great and there are a lot of improvements on the front-end, but also in the background, and distribution of rewards to the content creator is better and better...

So, what will bring the future? I can't tell you that, but I will keep my coins staked and HODL them until I see a better price... and it will come...

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Don't forget to follow, reblog, and browse my Hivepage to stay connected with all the great stuff!

You can also find me on LEO Finance .:. Twitter .:. LBRY

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This was a great post about LBRY and how it has grown. As a LBRY user myself (thank you for that!), I enjoy using the platform & uploading my #Hive content on there as well....my followers there has steadily grown, which is nice to see & now I am starting to see my rewards slowly grow. When they changed the reward system, it has benefited creators much more & now that you mention it, I haven't seen as much low quality content as I used to....

Even though this year has been chaotic, it actually has helped increase aware of LBRY & other #decentralized platforms. People are starting to gravitate towards them & it is great to know I will still get to watch some of the YT content creators I have grown to enjoy on there as well. (I can literally think of at least 3 I have seen go over to LBRY.)

You're right - the price is holding nicely & I do believe it will be successful. These things take time & only then we will be able to tell, but I have hopes for it & the continual upgrades the staff makes on the platform itself...

This was an enjoyable read, Zoltan! Thanks for sharing this & hopefully more people will check out LBRY to see it for themselves :)🧡

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You are right that the spammy posts disappeared after the changes... And also, I think that more and more people will come to #decentralized platforms... It's just a question of time...

I found some awesome people on LBRY that helped me with my content creation giving some great advice on how to create better videos...

Thanks for your awesome comment!

I remember that I created an account and found the proposal to win LBRY very interesting. For content creators it is a great platform indeed.

The little I put together will make HODL. I know that the future of cryptocurrencies will be excellent and who knows LBRY may also be one of them.

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They are very old coin and some awesome and smart people are doing the development part of it... The idea is great, but I have to admit that I expect problems down the road, but it has huge potential... Will see what will future bring :)

spreading your content in 2 Blockchain is smart and financially fulfilling idea too.
I will put both 3speak and library for to do in my list.

I know that there are people who like to create content exclusively for one platform... But, owning our content, we have the right to choose where we want to publish it... We can do it on one platform, or to more than one... ;)

I was thinking of joining 3speaks but the day I thought of browsing through videos and check out some stuff before I start doing it, the site wasn't loading and there was a 504 error... luck isn't it! Will definitely go through LBRY now

I like both! 3Speak because it is Hive-based and has some awesome people that are standing behind the project, and LBRY as it is a totally different blockchain, coin, and idea in general... I like to bet on more sides :)

I do agree that 3Speak has problems lately, but I hope that they will solve their issues... Also, if I heard it right, they will further develop the platform by adding their own token and incentives for it... So, good times are coming!

I find problems uploading videos on 3speak. Sometimes it takes way longer to publish videos. Recently I started uploading videos on YouTube and then uploading that on DTube. I opened Lbry account before, back then you had to download software, install that to use the platform. Things change now. Today I'm looking into Lbry again.

Like with every new platform, LBRY has its problems in the past, and still has sometimes.... but it works! It goes the same for 3Speak, but I like them as some great people are working on it...

I too face problem some time with 3speaks and seen some author posting on LBRY but nit trued anytime...

Those are small problems for beginners... I know that they both are here for some time, but they working on developing new stuff all the time... And if you take a look from a bigger distance, you can notice some important changes and development... I think that patience with them will pay off in the future... ;)

Yes it will...
I tries the LBRY last day as the 3speaks was down but seasms LBRY will also thake some time to activate my account as the sms verification is not available in my region.. will try the discord service...

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