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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.

jeniFive5 karma

What % of Synereo coins the founders hold to itself? And what amount is distributed to people?