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  • Replies: 1,764
  • Topics: 216
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  • Re: LTB Network Tutorials! Here's What We're Doing, What Are We Missing?

    5

    How does the LTB Distribution work?

    The LTBCOIN rewards program takes 90% of the LTBCOIN created according to the distribution schedule and each week distributes it in three batches to different groups of participating individuals based on their relative contribution during the week in question.

    Proof of Participation 20% of the LTBCOIN created each week goes to normal readers and listeners on the site or in our iOS application who have registered accounts properly configured with counterwallet addresses. We count how active each user is and what types of activities they do that we think add value like reading new articles, commenting, upvoting and downvoting, entering magic words you heard on network podcasts and more. This LTBCOIN is allocated based on how active within the community each user was over the past week, rewarding greater participation with more LTBCOIN.

    Proof of Publication 35% of the LTBCOIN created each week goes to individuals who have had their articles published on the front page of LetsTalkBitcoin.com in the last week (Friday night PST to Friday night PST). This is divided equally based on posts, so if there are ten posts in a week and I posted my normal two episodes, I would recieve two shares of 10%, totalling 20% of the LTBCOIN allocated to proof of participation that week, or 7% of the overall LTBCOIN disbursement

    Proof of Value 35% of the LTBCOIN created each week is held for four weeks before being awarded to the articles first awarded in Proof of Publication. Where that one gave everyone who published the same amount of LTBCOIN per post, Proof of Value looks at the performance of those same posts over the four weeks following publication and then awards them proportionally to their performance.

    The final 10% is called the Platform Fund and it goes to rewarding the platform operators, thats my family company, for spending the real world bitcoin or dollars to keep the lights on and paying developers to push forward our capabilities.

    The process of the weekly distribution is to securely log in to the counterwallet that controls LTBCOIN and issue additional tokens. I consult the weekly distribution spreadsheet that Devon Weller created back in April 2013, find the active week and copy the correct weekly creation number into the interface. We have a distribution engine built into the Tokenly platform which you can learn more about in the video What is the Distribution Engine, so even though over a thousand people will be recieving LTBCOIN on a given saturday I only need to send to four addresses and the engine takes care of the rest.

    Once that’s done, I update the spreadsheet confirming the week and log out of the wallet until next saturday.

  • Re: LTB Network Tutorials! Here's What We're Doing, What Are We Missing?

    4

    What is an ACT?

    ACT or “Autonomous Content Team” is a term I made up to describe a group of people on the internet making something together that they intend for other people to see because they want to. So the Let’s Talk Bitcoin! Show ACT has me at the center, with Andreas and Stephanie as co-hosts and then there’s Matthew, Denise, Grant, Krystal, Chris in the slightly further out support ring, then there are the people we work with only once on a specific piece of content. The specifics of it are almost different for each episode, and that’s true of many types of creative work.

    ACTs can be long term and stable or they can be temporary, a writer and editor might like working together and team up for multiple articles while other times a large team can form very quickly to focus very heavily on writing an investigative piece and only last the duration of the project.

    The most important word is Autonomous. Teams create content when they want, and on their own terms. The LTB Network has certain rules regarding content and acceptable types of sponsorships, but we leave the act of creation entirely in the hands of the creatives.

  • Re: LTB Network Tutorials! Here's What We're Doing, What Are We Missing?

    2

    What is LTBCOIN?

    Let’s Talk Bitcoin! Has always been powered by volunteers and as I got to know Bitcoin over the first year of the show I was really impressed most of all by how mining had solved the problem of paying people who would otherwise be volunteers like the SETI program or folding at home. The bitcoin network didn’t need a venture capital firm to convince miners it was a good idea to mine, the protocol gave the tokens first to the miners because they were the enabling layer, the people without whom no normal user of the bitcoin network could benefit from or even use that network. Miners are vital, so they are rewarded at no up front cost to the system.

    This concept of awarding first use of a token to the people who work with me to help create the show, and whom without which the show wouldn’t be as good stuck with me and from november 2013 to finally launching the token on the Counterparty protocol in the Bitcoin Blockchain in June of 2014 the idea expanded from a bitcoin-like cryptocurrency just for the show to a new kind of token built on the security of bitcoin itself. Its purpose was to power an ecosystem of users picking their favorites of many shows and blogs, rewarding the content creators for their published efforts and rewarding the community through initiatives like Magic Words in podcasting content, commenting on articles, making forum posts which receive likes from other users. Simply put, whether you’re a normal reader or a popular podcaster if you’re a registered user of Letstalkbitcoin.com you’ll recieve LTBCOIN each week, and anyone can become a podcaster, writer or editor in our decentralized content creation environment.

    This is only possible with a token like LTBCOIN that is basically free for us to create and very inexpensive to use and administer a rewards program involving thousands of people. Although LTBCOIN has no value at the beginning, the network we’ve created, using it gives it value. If the community fails and we all move on to other projects, the token will have no value and our efforts will have been a volunteer one, but if we succeed then our work now, later seen as foundational is well rewarded.

    Why would I want LTBCOIN?

    LTBCOIN is the native token of the LTB network, the more of it you have the more value you’ve put into the network whether from writing articles or buying them on an exchange. Whatever you can pay Bitcoin for on the platform, you’ll be able to pay LTBCOIN instead and at a discount to the equivilent bitcoin price. In Our World, LTBCOIN can replace bitcoin to get what you want. This includes fees, access tokens, single use tokens and all LTB network offerings. Anything traded on LetsTalkBitcoin.com must offer a LTBCOIN price, but each ACT (Autonomous Content Team) determines their own prices.

    But even with just the core offering alone, LTBCOIN gets you the best deals on our very exclusive front page advertising spaces, audio spots on the Let’s Talk Bitcoin! Show and a growing list of others.

    How do I get LTBCOIN rewards?

    To receive LTBCOIN you’ll need to register for a free account at letstalkbitcoin.com, then create a free bitcoin wallet at counterwallet.io.

    Take your new counterwallet address and from your letstalkbitcoin.com profile visit your address verifier and add the address, make sure to indicate it is a counterwallet compatible address, which means you can receive tokens as well as bitcoin. Also check “Primary” to let the system know you would like your rewards sent to this address. Save your changes and you’re finished, rewards are distributed weekly on saturday afternoons.

  • Re: LTB Network Tutorials! Here's What We're Doing, What Are We Missing?

    1

    Q: What is Let's Talk bitcoin! and what is the LTB Network?

    A: I’m Adam B. Levine, founder of both the Let’s Talk Bitcoin! Show and the LTB network, but they are two separate things. The show is what we call an ACT or Autonomous Content Team operating on the LTB network which we characterize as a community platform.

    Let’s Talk Bitcoin! Is a twice weekly show about the ideas, people and projects building a new kind of economy enabled by cryptocurrency, trustless money as free as the internet thats changing everything. In April 2013 I invited Stephanie Murphy and Andreas M. Antonopoulos to the first recording of what would become Let’s Talk Bitcoin! As my third attempt at a podcast dealing with this technology I was so obsessed with, my timing was good and the team had immediate chemistry. This time it stuck. Nearly two years and two hundred episodes of Let’s Talk Bitcoin! Later we’re still going strong, the shows focus morphing with my personal journey into cryptocurrency.

    The LTB network is the broader community platform at LetsTalkBitcoin.com. I realized early on that posting a new episode once a week or twice a week wasn’t really enough of a reason for people to visit your site as part of their daily schedule, and really that’s what you want if you’re building a community. In December of 2013 we held a contest for new cryptocurrency related shows and were floored by the response both in terms of quality and quantity. From that initial batch, many long-running podcasts emerged and the network was born where each show individually created their own work and published it according to their schedule. And the network became larger than new shows, we opened up the front page blog to anyone with a story to tell and soon anyone will be able to start and manage their own blog that can itself feed stories and shows to the front page.

    In the last year since the network launched we’ve learned a lot and built a lot of tools that let cryptocurrency solve some pretty big problems for us, and this is definitely only the beginning.

  • Re: We're Talking with Ex-Reddit Cryptocurrency Engineer RYAN X CHARLES on THURSDAY the 12th - Any Questions?

    Looks good :)

    I was concerned he might cancel since we booked him right before he left Reddit, but it sounds like he's got something to say still!

  • Moving Past Silk Road

    Now that the trial is over, do you think Silk Road, Dread Pirate Roberts And/Or Ross Ulbricht are out of the news?

    What do you think of the verdict? What did you think of the defense?

  • Anybody listen to the No Agenda Show?

    It's pretty much the only podcast I listen to that isn't on LTBn, although every few months I get really sick of them and have to take a break.

  • Re: LTB Network Tutorials! Here's What We're Doing, What Are We Missing?

    I'm willing to work with video editors but you need to really know what you're doing or it'll just take more time than doing it myself. Please self-select

  • We're Talking with Ex-Reddit Cryptocurrency Engineer RYAN X CHARLES on THURSDAY the 12th - Any Questions?

    Any questions? Post 'em here!

  • LTB House Advertisements Project - Seeking Artists!

    Hey everybody,

    some of you may have noticed that the ads on the front page don't really change much and in fact are for dead projects in many cases... Time to fix it!

    Here's how the front page display advertising works:

    Through the Sponsor system we accept LTBCOIN, bitcoin, SJCX, SWARM and XCP as "currency" type tokens... that is their values are float (with a discount) to a dollar amount ($100 per slot per week). So you might have to spend $90 worth of bitcoin but only $50 worth of LTBCOIN.

    We also accept LTBDISPLAY tokens at a fixed rate of 1 LTBDISPLAY per slot per week.

    A total of ten spots on the front page means we can take 10 sponsors per week, when we don't have full booking we'll have a variety of "house ads" that educate about or direct to various parts of the community platform.

    This list is what I'm thinking so far, and we'll need to have artistic interpretations of each one - I don't want to do a contest for these and I'll pay 100,000LTBC for each one I am satisfied with to go on the front page.

    Don't start drawing immediately, indicate the one you're interested in and lets talk about direction.

    Here's the list.

    • What is LTBCOIN?
    • Swapbot
    • How to Support
    • Tipping Philosophy
    • Sponsor Tool
    • Token Controlled Access
    • Magic Words
    • Asset Distributor
    • Auctions
    • LTB Rewards Program
    • Tokenly
    • Asset List (Ranked by competitive value donation)

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