From the Front Page - LTBCoin

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    BTC Media Acquires The LTB Network, Plans Relaunch

    March 24th, 2017 by Adam B. Levine

    BTC Media, a leading information provider in the distributed ledger space, announced today that it has acquired The LTB Network.

    The move adds the company to BTC Media’s other publication holdings, including Distributed, Bitcoin Magazine, yBitcoin and Gongshitan, among others. As part of the acquisition, The LTB Network will undergo a relaunch in the second half of 2017 which will include an extensive rebranding.

    “We are thrilled to add The LTB Network to our list of industry-leading information services,” said BTC Media CEO David Bailey. “This strengthens our ability to help audiences stay ahead of trends in the digital currency space and implement best practices for their assets.”

    The LTB Network’s Founder and Editor-in-Chief Adam B. Levine will remain host of the flagship “Let’s Talk Bitcoin!” show and serve on the network’s editorial board.

    “Our goal has always been to showcase the disruptive ideas, people and projects that are leading innovation in digital currency,” Levine said. “This is a new opportunity to grow our audience and better serve our podcasters and writers by focusing more of our time on creating better content, not selling ads.”

    Founded in 2011, BTC Media is the world’s largest provider of multimedia, educational, conferences and other high-value informational resources focused on the digital currency and blockchain industries.

    Founded in 2014, The LTB Network has for years been the home to a distributed group of independent broadcasters and journalists working toward better understanding, exploring and explaining the phenomenon of digital currency.

    “This change marks a vitally important mechanism for BTC media to engage audiences worldwide,” Bailey said. “We are excited to expand the number of podcasts and place new focus on production value. We look forward to building on the foundation that Adam has established and taking it to the next level.”

    The LTB Network has been a testbed of innovation with a proprietary content management system, token controlled-access forums and more. It was the first to launch a rewards program using a digital currency, LTBCoin, which was awarded to content creators and audience members according to their “Proof of Participation” score.

    Following the acquisition, LTBCoin holders will be given the chance to participate in a new, “Proof of Existence 2.0” project, with details to be released later this year. It shares The LTB Network’s spirit of exploration into disruptive technology. Details and updates can be found at po.et.

    For news media information, please contact Tyler Evans:

    tyler@btcmedia.org

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    Investing in Fantasy Is Reality!

    October 15th, 2014 by Adam Terwilliger

    Imagine you are watching your favorite ESPN Fantasy Football analyst Matthew Berry discuss his picks for successful players to start in your lineup. You are so enamored by his analysis that you decide to check out his fantasy team online. You see that he is in first place, he has a team you believe to be great, and he is routinely scoring more points than anyone else in the league each week. Below his team name, you see a button that invites you to invest in his team. . . .

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    Categories: LTBCoin
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    eBay and Microsoft Eye User-Created-Value Platforms Similar to LTB

    August 5th, 2014 by Brian Cohen

    Original (dhimmel):

    !!!!! SENSITIVE TITLE - PASTE IN PLACE BEFORE PUBLISHING: eBay and Microsoft Eye User-Created-Value Platforms Similar to LTB !!!!!

    On July 9th, 2014, EcommerceBytes reported that eBay is considering "Compensating Users to Post on the eBay Boards. This was revealed when eBay held a Weekly Chat with the eBay Community Team on July 2nd:

    This week, the eBay Community team wants to hear your ideas about rewards & recognition for Community participation.

    EcommerceBytes noted that:

    In response to a question about what the eBay moderator meant, the moderator replied, For example, if eBay were to reward members for their Community participation, what types of participation should we consider? Number of posts? Number of correct responses?

    While EcommerceBytes said the move smacks of desperation, I will offer a different perspective. This is a paradigm shift whereby users will actually create and share value of the network and not just transfer (i.e. reallocate) value across it.

    The scope of eBays reward program eBay Bucks could expand beyond purchasing products into the realm of rewarding message board users. While eBay bucks is currently a walled garden it is possible that we could see it float through the gift token that I discussed over at Bitcoin Magazine in eBay Files Patent Application for Programmable Money. Or less likely but still possible, eBay could let Bucks be freely traded on a platform such as that proposed by IBM (see IBM Building e-Currency Platform, including Bitcoin.

    In what seems to be synchronicity, eBay posted the weekly chat announcement on June 30th which was just a couple days after Lets Talk Bitcoin! (LTB) launched LTBcoin (see the announcement at Introducing LTBCOIN, our new crypto-rewards program for LTB Creators and Community. LTBcoin according to the tokens website is a brand new kind of thing. It is a crypto-rewards system where people who help LTB to be useful are rewarded for their efforts. And its built on Bitcoin! In describing LTBcoin (LTBc), I have said Purchase not required. Participation is (Twitter). In fact, you cant buy LTBc from Lets Talk Bitcoin! However, everyone and anyone who participates in the Lets Talk Bitcoin Network (LTBn) is rewarded and distributed LTBc based on their participation in the network. Content creators receive the most amount of LTBc for their efforts but anyone can submit content (blog posts, podcasts and videos). Similar to eBays value proposition, 2.25 million LTBc were initially distributed to LTB community members with five or more forum posts and that registered a LTBcoin Compatible Address. LTBn is continually innovating and released Magic Words on July 17th in which a magic word is spoken on the podcast and listeners redeem the word on the Lets Talk Bitcoin website and are rewarded five times as many LTBc if they had read an article on the Lets Talk Bitcoin website...Yes, even reading an article on the website is worthy of an LTBc reward.

    According to the LTBcoin website, LTBcoin is a

    user-defined asset using the Counterparty protocol. Counterparty is built on Bitcoin and is secured by the Bitcoin network. Because of this, LTBcoin addresses are exactly the same as Bitcoin addresses. LTBcoin can be traded on the Counterparty distributed exchange for Bitcoin, XCP or other user-defined assets.

    Ethereum

    Ethereum is a distributed application software platform often referred to as Bitcoin 2.0. While Counterparty works on top of the Bitcoin blockchain, Ethereum is not compatible with Bitcoin (also see Overstock.coms o.info How to issue a cryptosecurity. On June 4th, prior to Ethereums ether sale, Ethereum posted a YouTube video of Chief Communications Officer Stephan Tual entitled What is Ethereum?. This video is the explainer that visitors first encounter when entering the Ethereum website. Tual explains that:

    ...another interesting application of this concept {of distributed application software} is that today on Facebook if you help identify artists that subsequently become successful by pressing the like button that value goes to Facebook advertisers not the content producers, not you. On Ethereum on the other hand both the content creator and the early adopter will be rewarded for identifying that artist. Its a brand new revenue model that never been seen before and it can completely revolutionize the way we think about revenue on the internet today.

    Reddit

    One has to wonder what Reddit has in store for their community after it was disclosed on Reddit to much fanfare (i.e. it made the Bitcoin sub-Reddit front page) that Reddit is hiring a couple of Cryptocurrency Engineers. While it is conjecture on my part, the shift towards users not just participating in the network but creating value based on their interaction with it cannot be dismissed.

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    Introducing Magic Words! the new Listener Rewards Program on the LTB Network

    July 17th, 2014 by Adam B. Levine
    On todays special announcement, Adam B. Levine explains Magic Words, the new listener rewards program on the LTB network.   Read More
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    Categories: General, Columns, LTBCoin

    Blockchain Bootstrapping Resource based Economy

    July 14th, 2014 by Alchemi

    ADAM's NOTE: PLEASE EDIT THIS COPY FOR THE TEST

    Summary

    • Differentiation of the blockchain from proof of work to proof of resource.
    • Advantages of a resource based economy.
    • Disadvantages of a consumption based economy.
    • Examples of resource based crypto-currencies.

    What is Proof of Resource?

     

    The Bitcoin network is built on Proof of Work, which is based on an algorithmic assymetry: valid hashes are computationally easy to verify but difficult to create. The vast processing power devoted to mining consumes electricity and therefore the bitcoin network is resource-backed.

    Downsides of the proof of work model such include the cost of maintaining the network and centralization of the asymmetric processing power. However instead I would like to discuss the upside which is long term impact of blockchain technology on the economy.

    Resource Based Economy vs Consumption Based Economy

     

    The concept of resource-based economics was developed by Jacque Fresco through his Venus Project in 1995.

    The Venus Project is an organization founded by Jacque Fresco that advocates for what it calls a resource-based economy. The goal is to combine Fresco’s versions of sustainable development, energy efficiency, natural resource management and advanced automation in a global socioeconomic system based on social cooperation and scientific methodology.

    Jacque Fresco’s work focuses only on natural resources of the planet such as minerals, natural gas and oil. However in the internet era, the scope of resources goes beyond natural resources of the planet. In a decentralized computer network resources include processing power, storage and network bandwidth. In any given community, resources include member skills, software development, availability of tools, and content produced.

    Since our current economy is based on the equilibrium between production and consumption, perpetual growth is only possible with perpetually increasing consumption. In other words, for growth to never reverse or cease, consumption must eventually become infinite. As inflation is baked into the very core of the growth pattern of this economy model, it is like a tornado that feeds itself anything on its path. Among this model's destructive consequences are peak oil, depletion of natural resources, and ever increasing pollution.

    Transition from division of labor which is Proof of Work by humans to Proof of Resource has already begun. Division of labor was advocated by Adam Smith in The Wealth of Nations. Thanks to the innovation of Blockchain, the technology is moving towards transforming centralization and corruption into decentralization, transparency and accountability at all levels.

    One of the main advantage of Proof of Resource model is that it is based on deflation rather than inflation. This is because the resources do not and cannot be inflated to infinity. Gold or any mineral mining are very good examples of this model. By implementing the Proof of Resource in a decentralized system we are making sure the resources are not controlled by few but managed by the people based on group consensus.The Blockchain enables the group consensus and empowers the people on a grass roots level.

    When we observe how nature operates, we can infer that the natural world conserves resources by reducing, reusing and recycling them. The planet powers itself by with plants that photosynthesize rather than combust fossil fuels. The planet’s ecology does not operate under the premise of inflation but is guided by the principle of conservation.

    Resource based Crypto-Currencies

    Proof of Resource model is implemented in some of the crypto currencies such as LTBcoin and SolarCoin. These are backed by resources such as community produced content and production of electricity through solar energy.

    Why is LTBcoin Proof of Resource based?

     

    Proof of Publication and Proof of Participation are the basis of LTBcoin. This model considers content produced by the community as a resource. The end users, who are the consumers, earn coins by participating in the community and enhancing the content through Proof of Participation. The distribution of LTBcoin for the next five years is as follows. 

    • 60% of LTBcoins will be distributed to members who publish content on the LTB Network 
    • 25% of LTBcoins will be distributed to members who are the end users 
    • 10% of LTBcoins will go towards the  maintenance of  the platform
    • 5% of LTBcoins will go towards administration 

    The main advantage of this model is that group concencus is required to control the discussion. This makes subtle censorship less likely than on sites like reddit or slashdot.

     

    Solarcoin

     

    SolarCoin is backed by two forms of proof of work. One is the traditional cryptographic proof of work associated with digital currency. Another proof of work is a 3rd party verified meter reading. SolarCoin is equitably distributed using both of these proofs of work as a means to reward solar energy generation.

    SolarCoin is the first renewable energy currency and also a resource based coin as it is backed by production of solar electricity. One solarcoin is rewarded to the producer of 1 megawatt of electricity.


    Disclosure

    This article is meant for informational purposes and is not an endorsement. Articles published on the LTB network are the author's personal opinion and do not necessarily represent the opinions of the LTB network.

    Further Reading

    http://www.youtube.com/watch?v=KphWsnhZ4Ag#t=13 
    http://www.youtube.com/watch?v=jsV_3yBDXXI 
    https://en.wikipedia.org/wiki/The_Wealth_of_Nations 
    http://www.hashcash.org/ 
    http://wiki.solarcoin.org 
    http://solarcoin.org/news/

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    Introducing LTBCOIN, our new crypto-rewards program for LTB Creators and Community

    June 27th, 2014 by Adam B. Levine
    Update: LTBCOIN Asset Drop Incoming later tonight! 6/27/2014 Hey Reader, Adam B. Levine here and happy to finally share the LTBCOIN project with you.  If you’d like to dig into the more technical papers, you’ll find them here. LTBCOIN is a brand new kind of thing - a crypto-rewards system where people who help LTB to be useful are rewarded for their efforts, and it’s built on Bitcoin!    Why is LTBCOIN Valuable? Effective July 1st, 2014 LetsTa... Read More
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