Just Heard About Bit.Tube Today - What's the deal with it?
So I just heard about Bit.Tube today after reading a Reddit post about Jordan Peterson uploading his videos there. I also saw @brianphobos mention it the other day I believe as well.
So I get that it's another decentralized Youtube free from censorship. After a little reading I see they are out of Spain, self funded, the videos seem to be stored on the same database or whatever as DTube. I see that you can pay for some additional services for bittube coins.
What I don't understand is where the money is going to come from for video storage as well as to pay out creators. Also how do the payouts work? Can you only get paid for 7 days or a limited period of time like Steemit/DTube or can you earn forever?
I setup an account earlier, one cool thing is you can one click upload your Youtube library which beats having to spend days doing a manual datadump from Youtube onto another platform like VidMe or Dtube which is a huge pain in the butt.
Anyhow, curious to hear your guys thoughts on Bit.Tube
One of the big issues with a lot of these platforms like BitTube is they don't clearly explain how economics work. It ends up being a big mystery. It is annoying. I ran into the same thing with Scorum. Literally no one could actually tell me what the economics of it were. I even e-mailed the Scorum developers and never heard back.
There are a lot of good things about BitTube but as an investment it is like ???????????????????????????????????????
There are more questions than answers in the end and for everything I have seen I don't think anyone is making any money except the people GPU mining the coin as long as their electricity rate is low enough but it would have to be super low or free to actually be profitable.
I'm pretty pessimistic about crypto right now however this big shit show going on with Youtube and Patreon and really all types of social media trying to silence anyone who disagrees with them or who offends anyone is going to drive people to crypto. I know Jordan Peterson isn't a huge figure but he's pretty popular and if he goes on BitTube potentially you get Dave Reuben and Sam Harris and all those other figures in that space going over there as well, who knows maybe even Joe Rogan someday.
I agree about the economics. I was asking around on Reddit and somoene is claiming they are going to have ads but I havn't actually seen anything from the company saying that or describing how it will work. I think ads are a necessity to bring any real money into a platform because if the plan was to have your peers support you with bittube tokens thats destined to fail and if the plan is to have people pay for services with said tokens to raise money thats going to fail as well.
My other question which I posed in my comment to @kenanqhd is if they do allow ads will they wind up being beholden to advertisers like youtube or will they take an approach of we are what we are, if your a whiny little bitch dont advertise here
I think the best way to approach the advertisement situation is like you said. If they want to be whiny little McBitches then they should go elsewhere.
STEEM is actually pretty advertiser friendly to be honest with you. Even more so than YouTube. It is really PC here for the most part and a lot of the content isn't even as edgy as some of the stuff that got popular on YouTube
Yeah, that seems weird how they are paying for IPFS hosting. I don't know how they can keep them up. And how are creators paid bittube coins?
It is unfortunate that Jordan Peterson didn't choose DTube. Either he doesn't know about it or decided on BitTube for some reason. I dunno but the publicity for DTube would've been great.
But their interface is way better than DTube's. Something should be done about that.
Hey @kenanqhd long time no talk buddy hope your doing well. Yeah my issue with all these projects is money just can't come out of thin air to pay creators. I got into a discussion on Reddit and someone told me they plan on rolling out advertising. Whether theiy plan to start their own ad network like SMOKE plans to do or whether they go with an established network I'm not sure.
I like that plan because I think ads are necessary to bring in real money, nobody is going to make money if crypto itself is going to be the monetization plan and nobody is going to make money if your peers need to support you, you need advertisers IMHO.
That said how do you keep the platform from falling into the same issues as Youtube which is being beholden to advertisers and censoring certain content advertisers don't like? Do they just plan on telling advertisers look come advertise here but its a free space so if you dont like whats being posted fuckoff and take your ad money elsewhere. Personlaly I don't think that's a horrible plan we are what we are if you wanna advertise here cool if not dont
Interesting... I'd like to hear more about this too!
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