advertisements need to have a lot of viewer in order to be potentially profitable for the content creators. The max revenue of an ad would be a few dollars per thousand views, however these rates are generally for video type ads that would be unlikely to be seen on a reddit thread.
Also people do not solely view a reddit thread because of the original content, they also view a thread because of the conversation occurring in the thread, and this is really not the content creator but the community as a whole.
Not sure what you mean here. The point here is to create less reliance on ads by giving audiences an incentive to tip. Also max revenue of ads is much more than a few dollars per thousand views. Niche content leads to more valuable ad space due to a targeted audience. i love reddit but not sure this makes it decentralised
Bitcloud would make it decentralized. |
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Any thoughts on using a smartwatch for 2-factor? I've heard some say this would be a good idea and others pay it would be pointless.
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TL;DR - Bitcoin tips have been unable to overtake advertisements as the main source of revenue for content creators due to the fact that not many people are willing to make donations. This problem can be solved with unique schemes that give audiences incentives to tip content creators. One option involves having audience members vote on upcoming content with their bitcoins. This model can be applied to movies, music, books, news organizations, free software development, and much more. It would also solve the “problem” of Internet piracy. Content could be freely available everywhere after the creator’s initial donation goals are met. New videos, songs, albums, blog posts, and more could be posted by content creators directly to a Reddit-like platform. This would allow the best content to gain more exposure. None of that requires Bitcoin. You could simply replace 'bitcoins' with 'money' in the quote above. The full proposal covers why Bitcoin is necessary: Why Traditional Payment Methods Don’t Work for BitMedia
We should also clear up why Bitcoin is required for BitMedia to work. There are three main reasons that something like PayPal would not work properly for this system of donations and tips:
Microtransactions - The base fee on a traditional payment system is usually around $0.30. The 3% discount rate is then charged on top of that flat amount. This means PayPal and debit cards are impractical for donations, tips, and votes under $1.
Chargebacks - Chargebacks would also be a huge issue in this system. We cannot have people reversing payments after they’ve made a donation. Posting original content is basically an irreversible transaction because it’s impossible to get something removed from the Internet after it is already out there. Since the content creator is posting a piece of work that cannot be taken back later, the same concept needs to be applied to the donations and tips. Otherwise, there could be a situation where donors/tippers/voters take back their money after the content has been posted. The content creator would be left with no payment for their work. This is especially troublesome in the Bitcoin vote monetization model because the voters who are able to make chargebacks could impact the results of the poll without having any intention of making a donation.
Censorship - Bitcoin is censorship-resistant money. There would undoubtedly be unpopular content posted on BitMedia. People still need to be able to make their donations when this problem occurs. PayPal, Visa, Mastercard, and other payment companies cannot be trusted to always be fair when it comes to who can receive donations. When these companies blocked Wikileaks from receiving donations in 2011, supporters of the document-leaking organization were able to make donations with Bitcoin. |
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Sounds super cool but Reddit is centralized, how can it become a decentralized media platform? I think this project could fly, but it should be based on a decentralized platform (something like Maidsafe etc.).
This is covered in the full post: Decentralizing the Servers and Administrators of BitMedia
As mentioned above, a problem could arise due to the centralized nature of Reddit’s servers and infrastructure. Because all of this content would be posted on Reddit, the owners of the servers and administrators of the site still need to be trusted not to censor any content. Although Reddit has always been one of the most adamant supporters of free speech in the past, we cannot predict the future. There’s also the possibility that they could be coerced into censoring certain content by a government. The good news is that there is also a solution for this problem.
Bitcloud is a project that aims to provide back-end data storage for websites and web applications in a decentralized manner. Think of it as Bittorrent for websites. The fact that so many different people are hosting the website makes it difficult to censor, much like pirated music, movies, and TV shows that are rather prevalent on Bittorrent right now. Another key difference with Bitcloud vs Bittorrent is that nodes are paid for hosting data. This means that the data will not only be hosted by people for altruistic reasons. When someone is being paid to host data, the uptime for that data tends to be much higher. With Bittorrent the most popular data is also the data with the most seeders. In the case of Bitcloud, all data can be seeded properly due to the fact that seeders are paid. Integration with Tor would also mean that no one even knows where the backend data for BitMedia is stored. One last point to mention here is that no altcoin is needed to create Bitcloud.
If BitMedia were hosted on Bitcloud, it would be truly censorship-resistant. You don’t need to worry about Reddit admins going rogue and censoring data. A government cannot subpoena a decentralized application, and you cannot seize the servers if you don’t know where they are located.
It would be interesting to see a proof of concept on a centralized platform until something like Bitcloud or Maidsafe is available. |
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TL;DR - Bitcoin tips have been unable to overtake advertisements as the main source of revenue for content creators due to the fact that not many people are willing to make donations. This problem can be solved with unique schemes that give audiences incentives to tip content creators. One option involves having audience members vote on upcoming content with their bitcoins. This model can be applied to movies, music, books, news organizations, free software development, and much more. It would also solve the “problem” of Internet piracy. Content could be freely available everywhere after the creator’s initial donation goals are met. New videos, songs, albums, blog posts, and more could be posted by content creators directly to a Reddit-like platform. This would allow the best content to gain more exposure.
Full Proposal: https://www.reddit.com/r/Bitcoin/comments/2ggkgp/how_reddit_could_use_bitcoin_to_become_a/ |
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Looks pretty cool. I have a few questions.
1) How are the winners/losers established? Is there a data feed hosted on a centralized server that relays the results of matches?
2) Could this be forked to work with bitcoins instead of XCP?
3) Are there any fees involved with using the distributed betting exchange?
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Litecoin's value proposition isn't really changed by this. It's an alternative blockchain that uses scrypt instead of SHA-256. That's where its small bit of value comes from. Its very very very small bit of value.
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Is this something similar to Bitcloud where it can be used as the basis for decentralized apps? Not clear to me as to whether or not netvend is a distributed database or something that runs on a centralized server.
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The bitcoin address at the bottom of the OP is not affiliated with Bitcloud. This post is a scam and should be removed.
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I'm familiar with the problems associated with storing larger files in Datacoin, but are personal chains a solution to that issue? I've been thinking that personal chains would be similar to our system of moderators. Nodes basically subscribe to a moderator, and then the moderator decides the kind of content that can be stored on the node. This means that all of the nodes aren't storing the same data, and they can make sure they are still following the laws in their local jurisdictions.
The ideas are sort of similar, although the details of what is possible will only become clear as the code gets released. What is very nice is that various groups are starting to realise that crypto-currencies only have value if they are backed by the assets of the p2p network - bandwidth, data/file storage and cpu cycles. Projects like Curecoin and Gridcoin are trying to base themselves on cpu cycles, while Datacoin monetizes file storage. Interesting that you have focused on bandwidth. My feeling is that open source rarely duplicates, and that different groups tend to work on different aspects of the ecosystem. For example, if your WeTube was built on top of Datacoin, we would probably have a winning formula. No wasted efforts, and fruitful cross-fertilization of ideas. The Datacoin protocol would be tweaked to suit different media, and vice versa. If you are worried about Datacoin "early adopters" I would say the coin is actually super cheap and can still be easily mined. It is only 2 months old. And 2 billion will be released over the next few hundred years. So plenty of time to get on the train. Just my honest opinion. AFAIK, it would be impossible to build WeTube on top of Datacoin. We need proof of bandwidth and the system of moderators for WeTube to work in a completely decentralized manner. |
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Hey guys. I wrote the nontechnical paper for Bitcloud. Just wanted to pop in to discuss the similarities with our projects because they are somewhat similar. As cryptrol pointed out, this is a brand new protocol that is based on proof of bandwidth, so it's not really an altcoin to Datacoin. The main ideas we've been thinking about when it comes to Bitcloud are a decentralized YouTube alternative and a way to monetize a meshnet in the distant future. Would projects like these be possible with Datacoin? Nodes are paid for sharing bandwidth in Bitcloud, so I am wondering if Datacoin would run into trouble when it came to apps that required large amounts of bandwidth. Let me know what you guys think. Thanks.
Hi! Datacoin can run into trouble if someone wants to store big files in it  Generally, I have such an idea. Datacoin stores only text info: html pages, css\js for them, small pictures (logos?), magnet links, etc. It also will store info that really needs redundancy. It will be fast storage with its own services. In that case Bitcloud can offer media storage for that - it won't need such redundancy, but it will work in pair with Datacoin. Just imagine: Namecoin as root DNS service, Datacoin as service for storing text info and security keys, for example, and your project as a media storage. It is really some kind of new, free Internet with economical/financial background. I'm familiar with the problems associated with storing larger files in Datacoin, but are personal chains a solution to that issue? I've been thinking that personal chains would be similar to our system of moderators. Nodes basically subscribe to a moderator, and then the moderator decides the kind of content that can be stored on the node. This means that all of the nodes aren't storing the same data, and they can make sure they are still following the laws in their local jurisdictions. It's an incredible idea from Liberman. Then again, it's hard to look at the similarities since both ideas are brand new. I agree that all of these projects are extremely exciting. Hopefully we will be able to create the new, meshed Internet with financial incentives for nodes in the future. |
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Hey guys. I wrote the nontechnical paper for Bitcloud. Just wanted to pop in to discuss the similarities with our projects because they are somewhat similar. As cryptrol pointed out, this is a brand new protocol that is based on proof of bandwidth, so it's not really an altcoin to Datacoin. The main ideas we've been thinking about when it comes to Bitcloud are a decentralized YouTube alternative and a way to monetize a meshnet in the distant future. Would projects like these be possible with Datacoin? Nodes are paid for sharing bandwidth in Bitcloud, so I am wondering if Datacoin would run into trouble when it came to apps that required large amounts of bandwidth. Let me know what you guys think. Thanks.
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Datacoin is proof of work where the data is stored in the blockchain. Bitcloud is proof of bandwidth, a completely new concept. We don't store all of the data in the blockchain, so we can scale to handle videos, audio, and bigger types of data. Datacoin dev is working on personal (node) chains, so that the main chain will only store indices and meta data. Files, pictures, movie clips etc will be on the node chains. This is to avoid bloating the main Datacoin blockchain. Datacoin dev has just finished Datacoin blockchain HTTP server: https://bitcointalk.org/index.php?topic=405992.0;allInteresting. Last time I checked on that project personal chains were theoretical. Glad to hear they made progress. Having said that, I think they would still have problems. Can users stream videos from the blockchain? If so, how is the bandwidth paid for? Another difference is that Bitcloud can potentially be used to bootstrap a brand new mesh network with profit incentive in the future. "Mining" bandwidth instead of storing meta data in the blockchain seems like a better option. |
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The same project already in china runing... You can visit the website https://jiaoyi.yunfan.com/We call the software name is LIULIANGKUANG Software serives QVOD。 Is there a place to read about this software in English? |
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Interessting, If I understood correctly, this works Torrent, only difference is that this uses the experience acquired from cryptocurrency to provide privacy, to maintain the system working, and to award the users.
I see that the fondamentals are great and it's a rational idea, but I have several questions, from a technical standpoint, but I guess it's still to early now, as from what I read you guys still looking for devs and brainstorming
I look at it as a way of monetizing torrent streaming; at least for the WeTube DAC that will be built on top of BitCloud. We definitely want as many questions as possible to come our way because it will help us with the brainstorming process. There are too many different aspects of the protocol for us to handle on our own right now, which is why we're seeking devs. So it's the idea on paper, but no dev nor code?
Gonna read
Correct. We are searching for devs to help us turn this idea into a reality. Basic questions:
1. Where is the data stored? How much redundancy? Obviously you need data to serve content.
2. How do you ensure that users are actually serving the correct data?
3. How will you validate the amount of data being served? (Imagine that an attacker controls both sending and receiving nodes. It would be trivial to fake the amount of bandwidth "used").
4. What types of data will you disallow? (This has many important legal consequences, as I'm sure you can imagine.) If everything is "allowed", I'd imagine most users unwilling to participate in fear of lawsuits/retaliation/subpoenas.
5. What is a "coin"? (unit of storage/bandwidth?) What is "difficulty"?
3. Nodes cannot cheat the system because there are multiple nodes sharing the same file. The node that the user connects to is chosen at random. Edit: Decided to go ahead and answer number 3. I assume this is a torrent-like scheme where files are broken into independent, verifiable (by hash) pieces, is that correct? Storing data in nodes seems to assume unbounded storage space. How will you make sure that nodes actually have the requisite storage space? Particularly important for high bandwidth, storage constrained systems (I'm talking about VPSes, of course, which will probably be the source of the majority of the bandwidth). It also seems like at least in the beginning, the system will not come close to even saturating bandwidth. In that case, what determines who gets block rewards? Random chance? Latency? As of right now, the system is not breaking files into pieces. The nodes store the entire file. Multiple nodes have to be able to store the full file to make sure that nodes can't cheat the system. I haven't discussed breaking up files into parts with Liberman, but that seems like something that would make sense for larger moderators with a lot of nodes. You are correct in assuming that VPSs will be the majority of the nodes. If the files on the nodes server don't match the file list from the moderator, they get dropped from the system. Having said that, I think your question points out the need for breaking down files into pieces. This system could work as long as the nodes were still chosen at random. We still have to make sure nodes can't cheat the system. You'll have to wait for an answer from Liberman for your last point. Couldn't someone just share with themselves?
See point #3 from my previous post. |
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Basic questions:
1. Where is the data stored? How much redundancy? Obviously you need data to serve content.
2. How do you ensure that users are actually serving the correct data?
3. How will you validate the amount of data being served? (Imagine that an attacker controls both sending and receiving nodes. It would be trivial to fake the amount of bandwidth "used").
4. What types of data will you disallow? (This has many important legal consequences, as I'm sure you can imagine.) If everything is "allowed", I'd imagine most users unwilling to participate in fear of lawsuits/retaliation/subpoenas.
5. What is a "coin"? (unit of storage/bandwidth?) What is "difficulty"?
I've been working with Liberman on a lot of the basic concepts, but I don't understand how some things will work technically. 1. Data is stored in nodes (the "miners"). The system is being setup so more nodes host the most popular content. The amount of redundancy depends on the popularity of the content. 2. Users will interact with Bitcloud in a client where they basically search through the files that are approved by a moderator. The moderator will have a list of files that its nodes store locally. I assume some form of verification mechanism can be used to make sure the node's files match the moderator's list. 3. Nodes cannot cheat the system because there are multiple nodes sharing the same file. The node that the user connects to is chosen at random. 4. Everything is allowed on the unmoderated system that will work on an anonymized layer, similar to Tor. On top of that, moderators will be able to set guidelines for content uploaded to their nodes. A node can choose to follow a few different moderators or simply allow unmoderated content to be stored on their server. 5. The coins represent bandwidth. A block reward is given out every 10 minutes. The block reward is distributed to all nodes. The node's share of the block reward depends on their share of the total bandwidth used by Bitcloud users. Edit: Decided to go ahead and answer number 3. |
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Datacoin is proof of work where the data is stored in the blockchain. Bitcloud is proof of bandwidth, a completely new concept. We don't store all of the data in the blockchain, so we can scale to handle videos, audio, and bigger types of data. |
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I have a question about Mastercoin and why the Mastercoin protocol layer is needed. Couldn't the features that Mastercoin wants to build be created directly on top of Bitcoin without Mastercoin? I know the Mastercoin exodus address was created to give an incentive for these features to be created in the first place, but doesn't that incentive already exist with people who own bitcoins? In other words, don't holders of bitcoins benefit from supporting projects such as Open Transactions and Colored Coins? I am interested in many of the features that will be built on top of Mastercoin, but I am wondering if people would prefer those features to be built directly on top of Bitcoin. For example, with the decentralized exchange, won't users prefer to trade bitcoins directly for a stock or currency in the Colored Coins wallet rather than exchanging bitcoins for mastercoins and then into the stock or currency? It seems that the middle Mastercoin layer adds a bit of extra volatility with the Mastercoin currency that is not needed. When it comes to people with dollars or other fiat currencies who want to trade on one of these decentralized exchanges, wouldn't they be more likely to trade from bitcoins into the new currencies and stocks rather than mastercoins? People will want to use a less volatile currency, such as bitcoin, to do their trading, and it is likely that Bitcoin will have more liquidity, and therefore, less price volatility.
Edit: After doing more reading it seems that users interacting with the Mastercoin decentralized exchange may not need to own Mastercoins. They will be able to load their bitcoins into the client and then trade them directly for other user-made currencies. Is this how it works?
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Just wanted to see if you guys were aware of WeTube. It is basically a DAC or decentralized application that will aim to be a replacement for YouTube. Is this something that could be built on top of Mastercoin? It's rather unique because the people who generate the Mediacoins (currency for the WeTube DAC) are going to be the people who are offering bandwidth for all of the videos hosted in WeTube. You can read more about some of the ideas for the DAC at https://github.com/wetube/wetube-webThere is also an IRC channel on freenode for it at #wetube Does anyone know of a similar application that is already being built on top of Mastercoin? |
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