15
The Future of Odysee
(odysee.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 10 Jul 2024
15 points (85.7% liked)
Technology
34821 readers
16 users here now
This is the official technology community of Lemmy.ml for all news related to creation and use of technology, and to facilitate civil, meaningful discussion around it.
Ask in DM before posting product reviews or ads. All such posts otherwise are subject to removal.
Rules:
1: All Lemmy rules apply
2: Do not post low effort posts
3: NEVER post naziped*gore stuff
4: Always post article URLs or their archived version URLs as sources, NOT screenshots. Help the blind users.
5: personal rants of Big Tech CEOs like Elon Musk are unwelcome (does not include posts about their companies affecting wide range of people)
6: no advertisement posts unless verified as legitimate and non-exploitative/non-consumerist
7: crypto related posts, unless essential, are disallowed
founded 5 years ago
MODERATORS
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.
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
In the comments of that second link you provided, someone made a salient point:
Odysee's response was this link, which another commenter then pointed out:
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.