- Real Name: Adam B. Levine
- LTBcoin Compatible Address: 1MCEtBB5X4ercRsvq2GmgysZ9ZDsqj8Xh7
- Location: California, USA
Adam B. Levine is the Founder and Editor-in-Chief of the long running Let's Talk Bitcoin! show and the LTB publishing network.
Since the beginning, Adam has bridged the gap between journalist and innovator. After spending 2013 speaking on and evangelizing the nascent Bitcoin Tipping effort, Adam has spent the last year focused on the possibilities of "Tokens built on Bitcoin".
In June of 2014 he launched LTBCOIN, the first Cryptocurrency Rewards Program and most recently he has become the founder and CEO of Tokenly, a company building open source tools to make Tokens more useful and more usable to everyone.
- Bitcoin Tipping Address (This is not your LTBCOIN address): 19D4x11H5NQH255pvxFX96Ep9JeeonAhcQ
- Public Bitcoin Addresses:
- Replies: 1,764
- Topics: 216
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Paul said: Thanks for the answers. More questions:
How does the flow of ltbcoin for tipping work, that is...Does Listener buy an ltbcoin to tip to a show?
They'll be able to trade Bitcoin for LTBcoins on several exchanges including the counterparty Decentralized (p2p) exchange. The primary way people will get LTBcoins at first will be for free in smallish amounts for commenting (initially) and tipping. I also imagine shows are going to give them away in listener promotions. We're still figuring out all the distribution vectors but the goal is to make it very easy to get a normal "save some, tip some" amount while making it possible to accumulate a lot of stake either by helping a lot with the network, buying some, or getting involved on the content creation side.
This is another reason why the Apps are important, because they allow people to earn LTBcoin without having to sit at a computer. If so, from whom do they purchase them and/or where does the cash go?Content creators like yourself who choose to sell some on one of the markets, and to whomever they buy the token from. Or does Listener create ltbcoin by listening? They don't "create" them by listening, but if we can figure out how to measure it we can say "And 10% of the audience LTBcoin allocation will be distributed, daily, to people who listen to shows on the LTB network per day" So, if it's a day where only two people listen (obviously i'm simplifying) and you listen for three hours and I listen for one hour, you'd get 3/4ths of that days listener incentive allocation and I'd get 1/4th of it.
So while listening does not create LTBcoin, it can be compensated with LTBcoin.
Or does Listener create ltbcoin by tipping?It's not an "or" situation, we pick all the actions that we want listeners to do, that add value to the network and we allocate some amount of the coins to incentivize these actions. Tipping is another action I think its very important to incentivize, in this scenario if you tip on a day when nobody else tips it is profitable. Ideally it would be great to distribute that hourly so there is an incentive for there to be a constant flow of tips.
Am I correct in assuming that the that there will be a fiat-to-ltbcoin exchange where sponsors buy ltbcoin, and then LTB or other ltbcoin holders can sell their ltbcoin on that exchange to them?
I don't intend to facilitate anything like that, somebody else might do it though.
As I mentioned with my "and we'll have autonomous salespeople who have profit motive" explanation earlier, I just want us to sell sponsorships for LTB and then let the market solve the dollar problem and the sponsor relation problem. Keep in mind this means you can do the same thing and capture that difference too, so you can get paid for your share of revenue generated for the network and then also get paid when you resell your sponsor token to an actual sponsor for Bitcoin or dollars.Posted on March 14, 2014 at 4:51 PM
Yes and no. We're going to run basically the first LTB network blog and show, and we'll curate content for that, but so will everybody else. Each person/group who runs a blog or show will be curating specific pieces of content for inclusion on their particular branded platform.
As far as broad requirements,
We're looking for fiction, non-fiction, journalism, innovative technical papers, so long as its tangentially cryptocurrency or really decentralized network related. For shows, we're looking for all of that plus interactivity, discussion or analysis.
Does that answer your question?Posted on March 14, 2014 at 4:01 PM
Will there be a blockexplorer for ltbcoin?Yes, and you can see the asset here http://blockscan.com/assetInfo.aspx?q=LTBCOINWill the holdings of an ltbcoin owner be public or private?They will be public but pseudonymous, you can see on the asset page I just linked there is a "Shareholder" page which means your holdings are as private as the public Bitcoin key you store them on.Will there be analytics for ltbcoin such as historical price charts, supply, market cap, etc?Yes, both built-into the wallet and outside tools we'll incentivize with Bounties.If an audio producer gets 2 ltb for 10 minutes and 4 ltb for 50 minutes, then wouldn't they be incentivized to do five 10 minute shows and thus get 10 ltb?Actually I think what's going to happen is we're going to reclassify so we ONLY take 50 minute shows, whether video or audio. In order to get published, even if your content is only 10 minutes long it will need to be included in a 50 minute show that meets our Publishing Protocol.
Its inclusion means that it should get a share of the LTBcoins that are distributed to that project, and we're currently finishing up a tool that will let teams set up arbitrary, one time Bitcoin multi-addresses, where the team can submit one address that splits the payment by whatever % they set to however many addresses they indicate.
Once it's been published as a 50 minute show, all the individual chunks which can be promoted individually as well as in the whole package. Because the revenue payment described in an earlier answer is tied to the sponsorship of the show or the blog rather than how profitable the individual content creators piece was, it means it's very desirable to have your content included in a valuable show, which means that some people might even offer content for free to a show that does great with sponsors since a larger % of that payout could wind up being more lucrative.Are these questions too dumb or numerous? :-)Not at all, did I miss anything?Posted on March 14, 2014 at 3:20 PM
Paul said: I might be available to attend live via computer. Is it mumble or google plus? Here are some questions I have:
I understand that sponsors will somehow be able to bid for slots on shows. I'm interested in learning how they will indicate their bids. Is there an exchange or trading post for that?
In the beginning there will be a subforum here. It's not created yet because it's not needed yet, although I guess there's no harm setting it up and populating it with the currently available showsWhat percentage of sponsor bids go to the content producer?This is still up for debate and I'd welcome your opinion here, I view this whole experiment as a bootstrapping technique, which is to say it should incentivize growth of the audience while relieving content producers of early sponsors understanding the value, or frankly even the mechanics of what we're doing here. The plan at this time is to have 0% of actual sponsor funds go to content producers, but to tie a significant percentage of the new LTBcoin issuance to the relative revenue of each show/blog.
That's a hell of a sentence. What it means is if there are five shows, one makes $1000 in sponsor revenue, one makes $100 in sponsor revenue and one makes $8900 in sponsor revenue, the 100,000 LTBcoins to be distributed over that time period via this incentive structure (say, a month) would be 10,000 going to one, 1,000 going to the second, and 89,000 going to the third.
The sponsor revenue itself will probably be the profit of the network, which means that the network would take on the fail risk of not having sponsors, or not very profitable sponsors. I suspect what will happen at first is opportunistic salespersons will buy the sponsorships cheaply because few understand whats happening and are bidding, they'll then go sell them to sponsors who actually would get value from them for a higher price and probably charge Bitcoin. Whatever the difference in the price they paid in LTBcoin (which might have been free to them) and what they sell the spot to a compliant sponsor for is their profit.
The thought as mentioned is a year where 100% of that incentive fund comes from the new coins being issued (a split of the content allocation), year 2 it's 50/50 Sponsor Rev and New Tokens and year 3 it's 90% to the content creator with 10% to the LTB platform.Likewise, will show producers bid on exclusive content?I didn't address the coming interface, but the goal with content is to have producers set a price, and then have a "claim" period of say three-twenty four hours depending on what the producer wants where someone will have claimed it at the price, but they can be outbid by someone who is willing to pay more.
So if the piece is not in contention, its not an auction. If it is in contention, it's a fast auction that lasts max 24hrs and lets the market properly value it since the creator did not.
We're planning to partner with Coinality.com and help them expand into this space, if anyone is interested in working on that project they're looking for a qualified CTO to help us build out the platform with a token :)Will ltbcoin be used by audience to give feedback on the quality of content? How?Firstly, Tips! The audience is going to be heavily incentivized to tip frequently because if they're tipping at a time when few others are, it will be profitable for them. LTBcoins will flow like water at least for the first year, and the distribution is designed to reward people for being generous. Tips are going to be a fairly prominent metric on the new LTB and will be integrated in multiple ways.Posted on March 14, 2014 at 3:13 PM
Re: Here before the LTBCoin Launch? Get your part of the initial disbursement for the Initial Community
Logan said: I thought you said that you were going to use Mastercoin as the protocol for your coin?
Mastercoin is powering the Goxcoin project, which is just waiting on plaintiff groups to get organized with the Japanese bankruptcy court.
I'm involved or consulting on about 7 user created assets, we've just announced the second that will be built on XCP (http://permacredits.com) and LTB will also be built on XCP.
I'm getting ready to announce a project built on NXT, frankly they're the furthest along with their interfaces and their software ecosystem is amazing because they're so decentralized. The fact that Mastercoin has a big pile of money for developing means that it's on them to develop all the stuff, so their slowness has been in part because they raised development funds.
NXT by contrast raised $2100 worth of bitcoin (at the time) and so the ecosystem that emerged built the tools quietly, on their own, because they each wanted to be the first or the best in their own way so you get http://nxtclient.org
My advice: own everything so you can look at them all objectively. I 100% believe these 2.0 protocols and layers are the next big wave of disruption from the plonker bitcoin begat, but just like early computers there are going to be many who succeed before they fail. No sense not betting on every horse when the buy-in for a basket of stake is sub $100 http://dacindex.com Posted on March 14, 2014 at 2:52 PM
fastfinge said: Sorry if this is a silly question, but I just got here. Does this new app mean the RSS feed is going away? I use a podcatcher to listen to all of the LTB shows, as well as the other podcasts I enjoy. Having to have one app for LTB, and another app for every other podcast, would kind of irritate me. LTB is valuable enough I would probably keep listening, but I would be annoyed. So: will it be possible to keep the RSS feed for those of us who want it?
Yes, all the app will do is simplify the process and make it so you can switch show/blog feeds on and off. Mostly this is a strategy to make it incredibly easy for new listeners who don't normally listen to podcasts at all (only 14% of the internet audience listens to audio, compared to like 70%+ for video).
So if you like your podcast plan, you can keep your podcast plan!Posted on March 14, 2014 at 2:45 PM
Download link: https://secure.cogcoop.com/join?refId=14P5Nzwo0bPosted on March 14, 2014 at 1:49 PM
Bitcoin & Beyond
Great questions paul! Matt set it up as a Hangout, so we'll do that for simplicity.Posted on March 14, 2014 at 1:46 PM
You can see the asset (it currently has one unit issued, held by one person - the Counterparty dev) http://blockscan.com/assetInfo.aspx?q=LTBCOINPosted on March 14, 2014 at 1:29 AM
So i have an observation about LTBcoin. Every altcoin with their own Blockchain distribute coins in a fair, blind and over time way, in the case of LTBcoin, one specific holder has all of the coins and he decides who should be rewarded and by how much, also he can reward itself with all those coins if he wants.
1) No one knows how many coins will be in circulation at a certain time, we will always have to assume all of the coins are in circulation, which gives the coin very little value.One of the advantages of using a token built of Counterparty is we can do a few things you can't with a normal blockchain. First, our token will have an asset page where you can see very clearly whats going on, both in terms of how many tokens are in existence and what the concentration of wealth is on an address by address basis.
Secondly, we can do multiple issuances. So rather than the MarketCap of LTBcoin being kinda meaningless like Ripple's because there are all these non-circulating units, LTBcoin is going to be issued weekly and distributed immediately.2) We need to trust no insiders will manipulate the market using the original stash, or sweep the bidbook if the project is going to close. There won't be an original stash, the tokens are going to be distributed (I hope to have a script/interface created to automate this) immediately after being created. 3) If the private keys of the original stash are hacked, LTBcoin lose almost all of it's value on the market. Because that stash may be very big, or LTB would have no more LTBcoins to pay for new content.We haven't talked about this yet, but I have no intention of being the holder of the key. At the very least it needs to be a multi-sig controlled by all the senior editorial staff at the network, and really it would be good if it was a representative from each network that uses the coin.
Does this satisfy you concern? I'm definitely looking for ways to divest myself of total responisibility. I'm a known figure, having the exclusive ability to create money might be dangerous for my health.Posted on March 14, 2014 at 1:22 AM
- Posts Authored: 317
- Posts Contributed To: 13
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Full shownotes and links after the jump.Read More
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Normal episodes of LTB will resume next week.
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You can swap your LTBCOIN at letstalkbitcoin.com/ltbcoin-to-poe-exchange
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