View The Future of Odysee on Odysee

Edit: Changed the link to lead to the original Odysee article post which contains the video, rather than just to the video itself. You get more context and information that way.

  • ProdigalFrog@slrpnk.netEnglish
    22·
    5 months ago

    So they were bought by Forward Research.

    https://finance.yahoo.com/news/arweave-adds-over-7m-users-140000864.html

    Foward Research is a crypto blockchain company that owns Arweave, which as far as I can tell is trying to incorporate crypto into a cloud data storage service. It’s all very vague, but that’s what I sussed out.

    I wasn’t aware that odysse was originally a crypto video sharing platform, I thought it operated more like YouTube.

    Forward Research also bought solarplex, which they boast as having sold “over 120,000 NFTs”, which tells me all I need to know about their intentions.

    I’d steer way clear of this, nothing good can come of it, and if you have any doubts, watch Folding Ideas NFT video.

    Stick with Peertube.

    • DreitonLullaby@lemmy.mlOP
      3·
      5 months ago

      I wasn’t aware that odysse was originally a crypto video sharing platform, I thought it operated more like YouTube.

      Hey mate, It’s not exactly a crypto video sharing platform, but it does incorporate crypto in how it operates. Odysee isn’t the blockchain itself, it’s a website frontend for the blockchain, which has previously always been the LBRY network. How it works is that you would receive small amounts of LBC (LBRY coins) for watching some content. You can than use the earned currency to upload videos and articles onto the platform, and it can be boosted by other peoples channel donations to support individual content creators, which are optionally either more LBC or using traditional fiat currency if you so choose. I know it’s very easy to upload stuff because I have my own channel, you practically aren’t even paying for it since you can upload a video for as little at 0.0001 LBC. My understanding is that they’re moving away from LBRY and towards Arweave, though I’ve not looked at the FAQ yet (linked below). If you check their channel, they posted more a lot of info at the same time as this video. The Odysee community has been waiting for details on an announced update for a few weeks.

      The Future of Odysee (Article)

      FAQ concerning Odysee’s new tech

      • ProdigalFrog@slrpnk.netEnglish
        5·
        5 months ago

        In the comments of that second link you provided, someone made a salient point:

        At the end of the day, it all comes down to content residing on someones hard drive. That will cost, either directly through cloud services, or indirectly by decentralized storage like the libry app where users donate their disk space and bandwidth. It is not clear to me how the new system works, and who carries the cost?

        Odysee’s response was this link, which another commenter then pointed out:

        I love how Arweaves biggest flaw (bandwidth) is only mentioned as a cliff note “Notably absent from Arweave’s formulation of the Kryder+ rate are bandwidth costs. Arweave covers this using a separate set of karma-based incentives – see here.” And the article linked just dodges the actual question at hand by throwing an empty promise to incentivize people to give their bandwidth for “karma”

        So Arweave is literally just Peertube with another brand new crypto on the backend to incentivize people to start using it and ultimately ‘sell’ their hard-drives to the blockchain to be used to host the video content. Otherwise, you need to pay to ‘permanently’ store your content on the blockchain for a baked in 200 years worth of storage time (so, I imagine that will be rather high).

        It should also be noted that in the FAQ regarding what will happen to LBRY Coins once this new crypto replaces it, they simply say “It’ll still be yours to do with as you please!”, I.E, this shit is worthless now since nothing will use it, but hey, it’s your shit, and that counts for something!

        Again, I would highly recommend viewing Folding Ideas video on the subject if you haven’t yet. This is ultimately going to be another thing that makes the creators a tremendous amount of money, but will ultimately crash and burn for everyone else.