How Reddit Could Use Bitcoin to Become a Decentralized Media Platform

collinstar

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Quote from: Robin_Good on September 28, 2014, 11:34:16 AM

Quote from: bambino on September 28, 2014, 11:00:51 AM

This is pretty interesting method. The problem is someone would post it online for free or with advertisements at some point.

Yes but I think those people would typically be at the bottom of the chain, so ultimately it might be served up for free, but everyone has already made their money at that point. Some people might try to wait until it's free, whereas some people would probably be willing to pay a little to get a faster and more immediate download.

Actually wouldn't it make sense to just go to the 2nd to last layer before the price is free? Sort of like what Louis CK did with his stand up special. Just $5 to whoever wants it now. Freeloaders can get it off torrent sites later.

cccarnation

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One Token to Move Anything Anywhere

Quote from: Robin_Good on September 28, 2014, 11:34:16 AM

Quote from: bambino on September 28, 2014, 11:00:51 AM

This is pretty interesting method. The problem is someone would post it online for free or with advertisements at some point.

Yes but I think those people would typically be at the bottom of the chain, so ultimately it might be served up for free, but everyone has already made their money at that point. Some people might try to wait until it's free, whereas some people would probably be willing to pay a little to get a faster and more immediate download.

This would be even better if there was a week or so between auctions. I suppose the people selling the content each round also have an incentive to not leak it. They don't necessarily lose that incentive after selling either because it could mess up their opportunity in future distributions.

NotAtOld

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Quote from: ?? on ??

I've always thought an auction type business model would work for online media. A content creator puts his work up for sale at a certain price to one or many people willing to buy it. Once those individuals purchase it at that price they turn around and resell it at a lower price to more people. As the reselling continues the price drops very quickly, and everyone up the chain buying/reselling makes a small profit. The last people to buy the video would end up paying a very low price. You might also have to implement some kind of proof-of-bandwidth protocol since some people might be willing to pay for a faster download.

Agree with the convenience factor. It would have to be ridiculously easy to get bitcoins and spend them on various projects for this to work. The difference between a regular pay wall and Vitalik's model is that the pay wall is crowdfunded. Having said thay, it's still not ideal, which is why the voting method or something else could give audiences the proper incentives.

logger

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Interesting. A bit of rant nevertheless: you associate piracy with the unwillingness to pay and leeching free content all day long, but I believe this is rather the tip of the iceberg with loads of money movement below. An exclusive service is not for free - and likely worth (so I've been told). I have the impression the key point is rather something else: convenience, quality and fast availability. But the old world seems to catch up with services like Hulu, Netflix and HBO to name.

The part that raised my eyebrows was where it was basically stated that paywalls are annoying, donations are useless and then a few minutes later you mentioned the awesome "Vitalik Buterin’s content monetization model". Oh well.. Convenience is also a big keyword here.
That being that, I'm curious where this is going to. Cheers and good luck!

Robin_Good

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Quote from: bambino on September 28, 2014, 11:00:51 AM

This is pretty interesting method. The problem is someone would post it online for free or with advertisements at some point.

Yes but I think those people would typically be at the bottom of the chain, so ultimately it might be served up for free, but everyone has already made their money at that point. Some people might try to wait until it's free, whereas some people would probably be willing to pay a little to get a faster and more immediate download.

bambino

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Quote from: ?? on ??

I've always thought an auction type business model would work for online media. A content creator puts his work up for sale at a certain price to one or many people willing to buy it. Once those individuals purchase it at that price they turn around and resell it at a lower price to more people. As the reselling continues the price drops very quickly, and everyone up the chain buying/reselling makes a small profit. The last people to buy the video would end up paying a very low price. You might also have to implement some kind of proof-of-bandwidth protocol since some people might be willing to pay for a faster download.

This is pretty interesting method. The problem is someone would post it online for free or with advertisements at some point.

FloodZone

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I produce adult content. There are some logistical problems with crowd funding as a total replacement for purchasing. Our releases make a certain amount over a lifespan of YEARS, and to equal that out we'd have to condense that timeline into... weeks? Also, most of our sales currently come from advertising, and this removes the affiliate from the equation. I am plagued by pirates who resell our downloads for cheaper on file lockers. I'm certainly interested in "solving" that problem. As long as the performers and crew and myself can make a living, I don't care in what order the sales are made. I'd be willing to try it.

AllYouCanDo

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Quote from: Bizzaran on September 17, 2014, 08:38:28 AM

Reddit is open source - if you have an idea, just fork it and implement it.

I may contact World Crypto Network to see if they'd like to try something like this out. Creating content about Bitcoin is probably the best starting point.

blatchcorn

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Very skeptical. 99% of people online are free riders that will not tip because they expect others to do so

ndonnard

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I'm all for this but I think we need to address the censorship and sudden "bannings" going on in reddit today. For example, banksworstfear.com, a bitcoin website without advertisements that survives on tips was recently banned without any avenue for recourse. Doesn't seem too censorship resistant, bitcoin / tipping / no advertisement friendly to me quite yet.

chennan

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doubt it will succeed. The content creators are incentivised by the tips before publishing their contents. Scammers may arise to get donations from innocents, which will affect the reputation of Reddit.

slaveforanunnak1

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Ethereum should arrive this winter.
Buckle up bitches....

zorke

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Quote from: Bizzaran on September 17, 2014, 08:38:28 AM

Reddit is open source - if you have an idea, just fork it and implement it.

I don't think this is true. If it was there would be a lot more reddit like sites out there.

Bizzaran

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Reddit is open source - if you have an idea, just fork it and implement it.

NikkieBeraj

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Very disruptive, I think there's some good stuff in here to help take aim at the problem of Media-bias based on ownership. Disrupt FOX news.. I like

Jamacn

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soon
we can use bitcoin to buy reddit-coin rather using fiat to buy reddit-gold. Tongue

dance4x

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Quote from: wasserman99 on September 16, 2014, 08:38:44 PM

advertisements need to have a lot of viewer in order to be potentially profitable for the content creators. The max revenue of an ad would be a few dollars per thousand views, however these rates are generally for video type ads that would be unlikely to be seen on a reddit thread.

Also people do not solely view a reddit thread because of the original content, they also view a thread because of the conversation occurring in the thread, and this is really not the content creator but the community as a whole.

Not sure what you mean here. The point here is to create less reliance on ads by giving audiences an incentive to tip. Also max revenue of ads is much more than a few dollars per thousand views. Niche content leads to more valuable ad space due to a targeted audience.

Quote from: forzendiablo on September 16, 2014, 09:15:25 PM

i love reddit but not sure this makes it decentralised

Bitcloud would make it decentralized.

forzendiablo

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the grandpa of cryptos

i love reddit but not sure this makes it decentralised

freedomno1

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Learning the troll avoidance button :)

The question becomes if they can beat the revenue earned from ads on their website
For reddit to use it or another service as a microlending service it would need to compete as a better revenue stream than this
That said the article and idea does interest me and I will have to read it more later
Its disruptive enough I have pondered a similar microtransaction model myself using Bitcoin but had puzzles finding a great utility for it this might work thanks for sharing.

wasserman99

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advertisements need to have a lot of viewer in order to be potentially profitable for the content creators. The max revenue of an ad would be a few dollars per thousand views, however these rates are generally for video type ads that would be unlikely to be seen on a reddit thread.

Also people do not solely view a reddit thread because of the original content, they also view a thread because of the conversation occurring in the thread, and this is really not the content creator but the community as a whole.

Topic: How Reddit Could Use Bitcoin to Become a Decentralized Media Platform (Read 1805 times)