First off, I'm not really a fan of altcoins or appcoins, but a network coin is one of the few exceptions when it comes to these kinds of alternative cryptocurrencies. LTBCoin is a special kind of appcoin that I think could actually work if implemented in the correct manner. The main issue that I see with it right now is that there is no mechanism for price discovery. I view these network coins basically as crypto-assets. They can rise in value as the network grows, but the coin can only grow in value if people know what it can be used for. In the case of LTBCoin, there is no way to find the right price because there isn't something that can always be traded for X amount of LTBcoins.
The solution here is to fix costs of different ad spots on the LTB Network in terms of LTBcoins. For example, it could cost 50,000 LTBcoins to get the top banner ad on the letstalkbicoin.com website. Perhaps it would be 100,000 LTBcoins for ads on episodes of the actual podcast. Letstalkbitcoin should set as many prices as possible in this manner to make price discovery much easier for the market. Right now there are people bidding on LTBcoins with bitcoins and then bidding on ad space in the auction house with those LTBcoins. This confuses the market as it isn't clear what you'll be able to do with LTBcoins.
In addition to setting a clearer picture of the value of LTBcoins, this also has the effect of increasing the value of LTBcoins as the network becomes more popular and gains more views. For example, someone may think the top banner ad on the homepage is worth $50 for one week. This means they'd be willing to purchase 50,000 LTBcoins for $50. If the network doubles and size and starts receiving twice as many views/listens/etc., then that same person may value 50,000 LTBcoins at $100. This means that the value of LTBcoins has also doubled in the eyes of the individual (and the market in general. everyone will have their own prices, but the general trend would be the value of LTBcoins increasing as those ad spots had more eyes/ears on them because people would bid up the price of LTBcoins on the exchanges).
I think LTBCoin would be greatly improved by making this adjustment. It would help the market figure out how much they should bid for LTBcoins. Please let me know if you think this is a good or bad idea.
Edit: I was thinking of this concept in the context of another project I'm working on, but it should still be possible without the need for a complete premine and burning coins. Simply burn all advertisement payments and send newly created coins to those who deserve them each week.
