RE: Stop buying LBRY credits

Thanks for you thorough response.
First of all my position is that I am not against any kind of blockchain innovations. Otherwise I support them as much as I can. But I want to reduce a negative that I observe for almost 3 years in a community. Vast majority of negative come from unwise or fraudulent distribution that cause people loose bitcoins.

You can read about LBRY and how it works here: https://lbry.io/what

I read but I was not able to find any incentives. Only concept level things.

There is no incentive for us to be corrupt. Over 20, very talented, credentialed, experienced people have put their faces on this project. Not just the team members, but experienced academics and people with far more to lose than anyone on this board. It is our reputations on the line here.

Sorry, but there is. You can discover history of Stellar and Neucoin. Maybe you realize that unprovable distribution is guarantied way to fraud first coming investors.

If you think what LBRY does can be done top of Bitcoin, I do not think you understand LBRY. There is more here.

I don't think that LBRY can be done on top of bitcoin if a project will get a traction. And that is the biggest question.

We are not making a unique offering. We did not even pre-sell LBRY. Some of our users chose to sell their credits.

Thanks for clarification of your intentions. That is make sense.

I would like to discover your project deeper if a good technical paper appears describing rationale behind incentive structure of micropayment providers, data keepers and authors. Also would like to understand how are you going to provide transparency of giveouts.

By the way. Everything technical issues you are trying to solve already has been solved by a Steem blockchain. Your previous comment has been stored on a blockchain without transaction fees and micropayment channel hassles. Technology behind is Graphene. Worth to look. Economical issues you are trying to solve can be solved by a simple auction plugin.