http://LBRY.io - LBRY CEO Jeremy Kauffman answers community questions in an ongoing "Video AMA" (Ask Me Anything!) series. Got a question for us? Leave it in the comments below or use #LBRYAMA on Facebook or Twitter!
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The revolutionary decentralized LBRY protocol operates thanks to a blockchain, which is made possible thanks to mining computers around the world (similar to Bitcoin & other cryptocurrencies). To learn more about mining LBRY Credits, visit https://lbry.io/news/lbry-blockchain-live-mine-lbc-now
LBRY Credits, or LBC, are the unit of account for LBRY. A LBRY Credit is somewhat similar to Bitcoin, but it is better classified as an "appcoin" -- a cryptocurrency that is designed specifically to power an application, with only that application’s precise functions in mind.
The purpose of this appcoin is not to compete as a better form of money than Bitcoin, but to function as a special purpose tool in ways Bitcoin cannot. We believe our appcoin is the best tool to succeed at our mission of putting every film, song, book, and game ever made onto a blockchain – without trying to displace Bitcoin as a global currency.
One of our key goals is for LBRY/LBC to be easy to access for everyday people. Initially, users will get some just for downloading the app. And anyone will always be able to earn LBC by offering some of their disk space to store encrypted file slices for the LBRY network. Because it won't involve linking bank accounts to exchanges or even converting any of their precious fiat money, we hope LBC will serve as an easy entry point for John Q. Public into the world of cryptocurrency. They might not even realize at first that's what they're using!
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https://www.youtube.com/watch?v=OxjcvePUaMo
The Steem network has undergone turmoil. What does it say about freedom, control, and decentralization?
Plus, an offer for Steem users to try out LBRY.
Full program details @ lbry://@lbry/lbryforsteem
Links from the video:
Full program details: lbry://@lbry/lbryforsteem
Coindesk: https://www.coindesk.com/why-crypto-should-care-about-justin-suns-steem-drama
Vitalik Buterin Tweet: https://twitter.com/VitalikButerin/status/1234522463129800709
Andrew Levine Tweet: https://twitter.com/andrarchy/status/1234636749625810944
Justin Sun Tweet: https://twitter.com/justinsuntron/status/1234690483298820097