LBRY Review | $LBC | Content Freedom!


hey guys welcome back to my channel!
Today I’m gonna be doing a project review on LBRY. Honestly it’s been a
long time coming I really wanted to cover the project, but I kept getting
sidetracked. And the spirit of full disclosure I do hold LBRY tokens but
it’s because people have tipped me for my content on the platform. LBRY has a
funding model set up for the community so that they can submit requests for
ideas that they have on how to help spread the awareness about the project. I
wanted to test it out, so I submitted a proposal for this video and I was
approved! Which means I did receive LBRY tokens in exchange for this
video, but this no way obligates me to be bias and I want it to be fully
transparent with everyone. I will continue to be honest about my views on the
project and to be honest I was planning on doing the video with or without the
funding but I figured if I could get it, the funding process would be an
important aspect to include in the video as a pro. And also to make others aware
how simple it is and possibly have others want to submit their own
proposals if they think that they have something that might be a good idea.
Obviously my goal is always to be transparent with you guys and so
obviously here’s my transparency. Quick disclaimer I’m not a financial adviser
all investments have inherent risk,
and please do your own research. Let’s start with what LBRY is, how it came to be, and who’s behind it. So LBRY is a free open source and community run digital marketplace. Thanks to it’s decentralized nature no one can remove or block content unless it’s
removed by the publisher themselves. In the most simplistic terms it’s basically
a crypto based YouTube, but with way more control as far as monetization goes. The
LBRY blockchain serves three key purposes. It’s the index of the content available on the network, It’s the payment system for the purchased content, and it also provides a decentralized publishing identity. Who started the project? Jeremy Kauffman
is the founder and CEO. Prior to LBRY, Jeremy founded TopScore. A startup that processes millions of dollars monthly in events and activity registrations. He attended Rensselaer Polytechnic Institute. Where he received degrees in physics and computer science. Alex Grintsvayg is the founder and CTO.
Alex aka “Grin” focuses on technology development at LBRY and manages
infrastructure growth. Grin has previously designed and managed scalable
infrastructure solutions for SAS firms. Alex holds degrees in computer science
and psychology also from Rensselaer Polytechnic Institute. Up next is their ICO, so the project didn’t have an ICO, the coin is actually an instant mine Genesis block created 400 million LBC
tokens to be distributed by the LBRY team. 300 million of these will be
allocated to the partners of the project and of that 300 million a 100
million are designated to charity. 100 million are owned by LBRY directly,
and the remaining 600 million are be mined. Additionally some $LBC may be given directly to the public or the community in ways that add value and make sense. The LBRY project is managed by
Library Inc., which is a company designed to develop and deliver the LBRY
technology. It was created in 2015. On to the technology! LBRY uses
proof-of-work as its consensus algorithm. And it’s based off bitcoins blockchain with some upgrades. LBRY has a block time of two and a half minutes and can handle seven transaction per second. LBRY has two layers which make up the platform. Those are the protocol layer, and the service layer. The protocol layer provides the fundamental
underlying technological capability. And the service layer utilizes the protocol to do something that we as users actually find useful. Layer one, the protocol. While the
protocol is one comprehensive set of rules, it is easier to understand as two parts. First the blockchain, and the second is the data network. The blockchain, the LBRY blockchain also provides a decentralized lookup and metadatastorage system. The LBRY blockchain supports a specific set of commands that allows anyone to bid in LBC to control the library name which is a lot like a
domain name. Whoever controls a name gets to describe what it contains, what it
costs access, who’s going to pay for it, and where to find it. These names are sold in
a continuous running auction. The data network, LBRY net, is a layer that
makes the library blockchain useful beyond a simple payment system. It says what to do with the information available in the LBRY blockchain. How to issue payments, how to look up content identifiers, and so on. The second layer is LBRY services. These services are what actually make the library protocol useful. while the library protocol determines what is possible, it’s the services that actually do things. these include things such as applications and devices, content discovery, content distribution, as well as transaction settlement. Applications and devices, a LBRY application is how a user would actually have a meaningful interaction with the LBRY network. A LBRY
client uses the protocol in a way that allows for the user to simply search for content,
pay for it when necessary, download it, and enjoy. I mentioned that people can pay for content on the platform, I want to clarify that it is up to the creator if they’re charging users to view their work. And in my experience, everything is almost actually free on the platform at the moment. All including my content. Content discovery, search features can be created from the catalog of metadata provided in the blockchain, as well as a constant transactions available in the blockchain or observed on the network. Discovery on LBRY can also take the form of feature content so clients can utilize featured content to provide additional visibility for content the consumers may not otherwise be looking for, or may not otherwise see. Metadata summarizes basic information about data which can make finding and working with particular instances of data easier. For example: author, date created, date modified, file size, type, these are all examples of very basic
document metadata. Having the ability to filter through that metadata makes it much easier for someone to locate a specific document or locate something
that they’re looking for. Next is content storage. So any digital file can be published on LBRY. Images, music, games, ebooks, videos.
Even less obvious ones like software plugins, Photoshop brushes and 3d printing files. After enough people have downloaded your content you don’t need to have your library app open any longer. That’s because originally you were hosting your own files. but as people begin to download it, now they are hosting it as well. this is how sites like BitTorrent work Onto content distribution! So, most digital content is subject to the regulation of the Internet service providers, as well as the influence of the government in that region. Traffic from host servers can be throttled,
manipulated, and halted altogether. However in the case of the LBRY protocol, content comes from anywhere and everywhere. and therefore is less likely to be stifled, not to mention that the market mechanisms of LBRY create a strong incentive for efficient distribution These properties, along with LBRY’s infringement deincentivizing properties, make it appealing technology for large existing data or for content distributors. Spee.ch or “S-P-E-E.C-H”. Spee.ch is the first website to use the library protocol. And it promotes free speech. Spee.ch is a free image and video hosting website, you can share your images and your videos, but you can’t earn $LBC directly from this site. Spee.ch is using the LBRY network, so your content is publish in a decentralized fashion. This protects your files from being centrally
owned by companies. All the free and public images and videos that are published on a LBRY app can accessed at Spee.ch and vice versa. Also and this point I would like to mention that they have a wallet that holds $LBC, and it’s integrated directly into the platform itself. Which is actually extremely convenient because everything is kind of packed into one location. That brings us to present day. Currently LBRY
sits at 279 on Coin Market Cap, with a marketcap value of 22 million. LBRY’s current circulating supply is 167 million $LBC tokens, with a maximum eventual supply of 1 billion. If you’re interested in purchasing $LBC tokens, you can get them from Bittrex, UpBit, or Poloniex. They just underwent a whole new facelift for the platform, and honestly it looks awesome. I’ve been nagging someone from the team
because I wanted them to add a refresh feature. Meaning basically when I put new
content up on the app, my newest content also refreshes to the featured page because that’s where I am. I wanted to be able to show my most recent upload without them having to go in manually and make the app do it. Well low and behold the new update they added that. So, it’s a small change but it’s something
that I really wanted and was really excited about. Not to mention you can bring your own YouTube over with a feature that’s called YouTube sync, it’ll automatically pull all of your content from YouTube, and on top of it you get some sort of like a creator’s reward so you’ll get some $LBC for doing that. What’s coming up that we had to look forward to? On the road map YouTube sync automation says it’s in progress. This will automate the YouTube sync process for new users to update new content on existing channels. Basically meaning if
you upload content to YouTube it should auto upload to LBRY, making the process much easier. also in progress and slated for Q3 of this year, is the
release of LBRY for Android, the beta app. I for one I’m super excited about this because you know an Android LBRY release means that there will likely be
an apple app coming out soon. They’re working toward adding support for
comments and features like tagging and other categorization as well. Also on the road map for Q3 of this year, is a fiat to Coinbase $LBC payment gateway. That’s a big deal. Basically this is going to integrate with a Coinbase buy widget onto the LBRY app, which enables new and existing Coinbase customers to purchase Bitcoin, Litecoin, Eth, whatever via their bank accounts or credit cards
and automatically convert it to $LBC. Super useful. On to the pros! The entire project concept for me as a pro. It’s no secret to those who’ve been watching my channel for quite a while now that I love alternative content platforms. I use just about every blockchain based project that’s out there right now. I stand so strongly behind projects who are trying to create alternative things to YouTube because we so desperately need it. The team, and the community our big pro for me as well. They’re extremely friendly, they’re willing to listen to suggestions, and they’re always open to new ideas. They’re all really easy to get a hold of and as far as a community goes, I’m always getting tipped for my content on the platform which is a really pleasant
surprise considering on YouTube you don’t get tipped for anything. So it’s a nice change of pace. It’s an open network. LBRY allows anyone to use a platform in its free form, with no censorship, no regulations, and allows creators to own
their own content, Constant progress and updates. When you open the LBRY platform if there’s been a new release or an update, something on the app is
going to prompt you to upgrade and restart. I honestly feel like I see this prompt
probably once a week. Which is an awesome indication of the fact that they’re
always working developing on the platform. Next up is the cons! A big
weakness for me is marketing. The project is great and so is the platform but it’s
really not well known, And considering there’s other platforms out there like
Steemit that are more popular but completely gamed, I’m pretty surprised
that this is not more well known because of that. It can be kind of slow sometimes.
I’d imagine that’s because it’s running a proof-of-work which is kind of just
inherently a little on the slow side. there’s no way to upload directly to
your channel if you’re not home. Meaning you have to use the computer that your
LBRY platform is downloaded on. This kind of stinks because sometimes if I’m
not home or at work or something, and I realized I’ve forgotten to upload there,
I have to wait til I get back home I also can’t browse content on there and I
can’t look at my wallet or do anything related to it because I don’t have access to the app unless I’m on my home computer. Expanding on the fact that you
can’t browse content outside of the platform, it’d be really cool if they had a mobile app, I know that’s in the works, but a mobile app or web app or something. they created Spee.ch which I mentioned
before, it’s just like that media hosting site and you can post the stuff on there,
but you can’t post directly to your channel. so you won’t end up earning $LBC
and it could in theory just be a waste of your content you know if you were gonna
hope that someone was gonna tip you on it, because you can’t because it’s not on your channel. Final thoughts! I make no secret about the fact that I really like this project I’ve been using it for months I’m pretty vocal about it on Twitter and so on, you know but that’s not to say that it doesn’t have its flaws. They definitely need to make the platform more accessible across more devices in a much easier way. But based on the redesign and their most recent updates to it, I fully believe that they’re on the right track and I’m really excited to see the platform progress, and hopefully take off. I’m going to leave all the links down below for everything related to LBRY, and also their YouTube sync option if anybody is interested Come over and join me, you will find all of my content over there as well. Well guys, that about wraps it up
for me thank you very much for watching I appreciate all the support if you’re
interested in contributing to the channel you can do so by checking out my
webstore I’ve got crypto t-shirts and I just put a bunch of new stickers for sale if you head over to my patron that’s another
option. As usual I’ll leave all the links below and I’ll see you guys soon

87 thoughts on “LBRY Review | $LBC | Content Freedom!

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  • That's a great review 🙂 Also, LBRY has an independent community website with a funded team behind it. You can visit LBRY Community at https://lbry.community

  • LBRY Protocol has also been proposed for The Stack Exchange! A perfect place for those who have questions about LBRY. You can read more about that at http://lbry.community/we-need-you-the-community/

  • gonna check it out, after i watch the vid again (ur chip sets works lot faster than mine:) awesome comprehensive work on the project alex!

  • Library is fairly decent, more less bought some tokens a long time ago, now I use them as a platform to upload all my videos, just DTube and BitTube this is another platform i think is so cool and neat for videos, would see some amazing gains with them in future, thanks CryptoCandor for your amazing Review, sincerely JR of Exciting World Cryptos

  • Great video I have been waiting for this one. You are the one who turned me on to LBRY a while ago, I love the project and I am expecting great things from it. Thanks!

  • Great work on your videos! A lot of influencers have been dropping off of crypto lately. This is the time to grind. Let's network or possibly collab. Add me on telegram @KentheCrypto

  • Hi Cryptocander, I am interested in DeepOnion, which also has a really strong community and development team that is driving it forward. The focus is on privacy and anonymity, and it is currently in the process of implement DeepSend, but it has many other features and something called DeepVault which has excellent potential in verify intellectual ownership rights of digital information urge blockchain. I would love to know your thoughts on DeepOnion’s potential!

  • You're so well spoken and knowledgeable on the topic, you are direct and tight on sticking to facts. Damn good presentation. Subscribed.

  • not sure why someone would upload videos on a platform that doesnt pay you. Why not just post on YouTube? no one is going to pay to watch someone's content unless it's a movie or series. yes, i know there's crnsorship on YouTube but for the vast majority it doesn't really matter. tipping is great but now there's twitch and other streaming platform

  • Interesting project but it seems that there are no women involved in the team (https://lbry.io/team). A new web cannot rely on men.

  • IF the Sheeppeople stay as loyal with YouTube as they do for their favorite pedophiles of other entertainment (moves, TV, video games, etc.) then YouTube shall thrive, not die. And so shall any other forms of entertainment controlled by pedophiles. Do your own research, stop being Sheeppeople.

  • Thx that was really helpful and informative. Maybe you can do a video comparing all the YT "alternatives" with pros and cons to get an overview, if there is maybe hope 🙂

  • got sum of it i started with punch cards doss is good . why do u need to buy lbry or $lbc can u just down load videos

  • I don't like how when you watch something, it downloads to your PC, I don't want to download everything I watch and I don't want that every single person who watches my videos gets it downloaded automatically. What if I upload something that I decide I want to delete later? It would have already been spread?

  • Will Google allow lbry to be accessed through their browsers. It will be interesting to see just how shitty they get about this. Just in the past six months trying to reseal any "truther" topics is almost impossible. Even duck duck go seems to be regulated. The basic way we've learned to search items of interest is futile. This hopefully is all ot says it is. 100% freedom of ANY TYPE OF information is paramount to a free and just society.

  • You didnt talk too fast. Just some people are slow with their intake. Im gonna check it out. Seems free speech exists on LBRY

  • Block Chain technology can literally be weaponized to know everything about you. I thought people were turning to Lbry to get away from cencorship? I am confused about the reasoning.

  • Thank you – very informative and also very complex. I am sure it may become very useful and help break Youtube strangle hold on creation.

  • You can just say 'RPI' … Anyone who's aware of the 'tute will know what you're talking about, and you'll save 7 syllables ;~}

  • I put some content on lbry but no views at all. How do we are suppose to be found on the net, since i dont see keyword tools? Anyone can help?

  • what i dont like about LBRY is that i have to downlaod n install it…i have a 150down internet not slow by any means n it took me over 2hrs to download it

  • You don't OWN your content with LBRY…..LBRY, Inc. has the right to promote your content and its availability on the LBRY network, and to use the name/likeness/voice of your content in its mailing lists, on its website, on the network itself,( "and through advertising by any and all means." ) If you don't want your content in the companies personal advertising you don't have say.

  • I get that you’re being unbiased but you probably don’t want to wear a shirt from the company that you’re reviewing while you’re reviewing it. Just saying.

  • I have clicked on the add but I have not been forwarded to the webpage of the advertiser. I'm not sure if you are getting paid from adds kn thus vid. Just dropping a feedback.

  • For a person that doesn’t understand the whole bitcoin phase. How do you convert LBC to USD because that’s how the rest of the world 🌎 operates?

  • super interesting idea … but crypto currency entanglement is why this is not going to work. I get it if peoples would start using it would make inventors lot of money.

  • LBRY is crap. its basically uTorrent. The videos are stored in other peoples computers and the download takes for ever and I have 300mbps download and 25mbps upload. YouTubers are crying going crazy trying to make easy money. Just get a job cause this is garbage. You are still going to get in tremendous legal battles just like people do when they download turreted movies. But, now you don't have YouTube behind your back. Yes they demonetize your videos but you rather go to court and get sued hardcore by this companies? No I rather have YouTube deal with it. I don't care about the demonetized video. It'll still attract others to my other videos. Anyway the real way to make money lets say if you are a musician is to get a lot of subs. Then you use that number to work with guitar makers, pedal makers and such. You do commercials with them not youtube.

  • " Free, open, and community-run digital marketplace. " What I do not get is the "marketplace". As far as I know a 'marketplace' is about exchange of money for services, products and etc. How do I see that? My audience is going to pay a 'penny' per video that I upload? Don't get me wrong, I am interested though there is a certain complexity which works confusing on me. Good video though I still do not get it!

  • Ohhh, who is this female that acts like a male host ??? Not treally a positive ad for the lbry sevice….also sheems they are all jews around in their managment….. eahhhh

  • Thanks for the research!
    Sorry this is off Topic but I never saw or met a girl with such mesmerising eyes 😍

  • Hi thinks for all the information but i have test the app the download of the video is slower and you can't choice the quality of the video

  • You are saying alot of words that i have no idea what they mean and just alot of jargon. Im just trying to figure out if this platform will be the new Youtube or a competitor and none of this really answered if its worth posting on there or not.

  • Thanks for your video! I came here to get some information….And got more than what I bargained for…..GRRLL you know too much, I had to replay to understand what I was listening too….Smart Cookie, count me in! SUBSCRIBED!

  • Quick, and to the point. I enjoy the style, a lot of informative channels can learn from this. It almost seems as if they mistake their audience for a bunch of toddlers!

  • I just started to move some of my content onto LBRY after watching your video a few days ago, I've asked other YTubers (they're small channels) about uploading to other platforms and protocols like LBRY and I was told that it goes against YT policies and people who upload on various sites will get demonitize. Do you know if this is true?

  • This platform appears to have a lot of potential to me, but it is still too difficult and complicated for the average user. Before it can become a truly viable alternative to YouTube, it has to find a way to make it much simpler to use. One of my biggest hangups, if I understand this properly, is the idea that I have to leave my computer on with the LBRY app running for other users to be able to view and download my videos. That is essentially not an option for me (or most users).

  • Very helpful video…
    …for those that have at least a Bachelor's degree in computer science.
    The (stupid) rest of us should probably look elsewhere for a comprehensive explanation of how LIBRY works…

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