Just want to check out LBRY ASAP? Go here.

Post AMA Wrap Up

This response has been absolutely amazing and tremendously encouraging to our team and we'll definitely report back as we progress. A lot of great questions that will keep us thinking about how to strike the right balance.

If you want to help keep content creation/sharing out of control of corporations/governments please sign up here and follow us over on /r/lbry. You guys were great!

Who We Are

Hanging out in our chat and available for questions is most of founding and core members of LBRY:

  • Jeremy Kauffman (/u/kauffj) - chief nerd
  • Reilly Smith (/u/LBRYcurationbot) - film producer and content curator
  • Alex Grintsvayg (/u/lyoshenka) - crypto hipster
  • Jack Robison (/u/capitalistchemist) - requisite anarchist college drop-out that once built guitars for Kiss
  • Mike Vine (/u/veritasvine) - loudmouth
  • Jason Robertson (/u/samueLBRYan) - memer-in-chief
  • Nerds from MIT, CMU, RPI and more (we love you Job, Jimmy, Kay, and every Alex)

What Is LBRY?

LBRY is a new, completely open-source protocol that allows creators to share digital content with anyone else while remaining strongly in control – for free or for profit.

If you had the LBRY plugin, you’d be able to click URLs like lbry://itsadisaster (to stream the film starring David Cross) or lbry://samhyde2070 (to see the great YouTube/Adult Swim star's epic TEDx troll).

LBRY can also be viewed and searched on it’s own: here’s a screenshot

Unlike every other corporate owned network, LBRY is completely decentralized and controlled by the people who use it. Every computer connected to and running LBRY helps make the network stronger. But we use the power of encryption and the blockchain to keep everything safe and secure.

Want even more info? Watch LBRY in 100 Seconds or read this ungodly long essay.



Get Involved

To use LBRY ASAP go here. It’s currently in an expanding beta because we need to be careful in how we grow and scale the network.

If you make stuff on YouTube, please consider participating in our Partnership Program - we want to work for you to make something better.

To just follow along, sub to /r/lbry, follow on Twitter, or just enter your email here.

Comments: 3549 • Responses: 24  • Date: 

jeniFive6395 karma

Suppose i created address with name of my company lbry/:Mycompany and i bought this address at 1 LBC.

On that address i will be posting my music that i created myself. This address becomes very popular. People often going on that address and buy music created by me. After 4 months it appears my music that you can find on address lbry/:Mycompany becomes very popular. So some guys came in, he sees that many people come in to that address to buy stuff. So he buys lbry/:Mycompany with 1.1 LBC and started posting his content and sells it. So the first guy who created lbry/:Mycompany in a lose position here. He make this address very popular to attend and then he loses it. And right now it is a headeache for him to try buy back this address on greater price or make another name.

So what is the point of such system?

EDIT: Guys! I want to inform you that right now after several times trying to get the ELI5 answer from LBRY owners in their Slack about the explanation of this theorem of how it will solve the naming system problem i was simply banned by one of their team member). I even tried to help them solve this problem by proposing using random generated company addresses that you can't sell. They seem to does not care about that help. So thats how this open minded blockchain developers communicate with common sense criticism. I thought you should know.

kauffj1445 karma

First, it's important to recognize allocating names is a really difficult problem.

If we hand them out ourselves, we lose the best benefit of LBRY: that the system is controlled by the users, not any one company or organization.

If we let people buy them outright cheaply, we run into terrible extortion and speculation problems. This happened both with the traditional domain and with recent alternatives like Namecoin (something like 50 out of 200,000 names in use).

So what to do? Our answer is to allow people to control, but not outright own, URLs. We think this will result in the names being most likely to return what people are actually looking for. It also backed by some sound economics (the Nobel Prize winning Coase theorem) and one of our advisors, Alex Tabarrok, an econ chair at GMU, thinks it is the best possible design.

Our goal is to create a system where the URL a user guesses is the most likely to return what they are actually looking for. Economics says this design is the most likely to do so, because the URL is most valuable when it returns what users want.

Also worth clarifying: if you just want a URL you always own, you can do this by publishing an exact stream hash (similar to a BitTorrent magnet link). ONLY the user-friendly, English URLs are awarded via this system. Additionally, URLs take significant time to change. The original owner, and the community at large, have weeks to respond to a contested claim.

Additionally, credits are never destroyed when used for a name. They're really a lot like votes.

Bottom line: we hear your responses and WILL NOT create a system that only rewards the trolls or rich. We'll definitely be thinking hard about this.

kushangaza66 karma

Every computer connected to and running LBRY helps make the network stronger.

It’s currently in an expanding beta because we need to be careful in how we grow and scale the network.

Aren't those two phrases in contradiction with each other?

kauffj59 karma

In theory, the first is true and we're confident will be true at scale.

In practice, the software is buggy and we don't have the bandwidth to immediately handle too many users at once.

loosterbooster8 karma

are dinosaur suits mandatory or only encouraged business wear at HQ?

kauffj11 karma

Dinosaur suits are only mandatory when we travel.