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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.
