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Tipping LTB with LTBcoin

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slim45

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Interesting idea for the community: what are your thoughts on tipping LTB with LTBcoin?

On the one hand, the LTB network doesn't need LTBcoin to purchase airtime, so it may not be as useful to them. On the other hand, it's an asset with a value just like any other coin.

Posted on July 3, 2014 at 3:51 PM

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• Cryptonaut

  

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  yes! this will be perfectly fine. Both BTC and LTBcoin tips will earn you more LTBcoin rewards

  Posted on July 4, 2014 at 8:02 PM
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• adam

  

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  @slim45 Interesting idea for the community: what are your thoughts on tipping LTB with LTBcoin?

  On the one hand, the LTB network doesn't need LTBcoin to purchase airtime, so it may not be as useful to them. On the other hand, it's an asset with a value just like any other coin.

  Actually I bid on the airtime with my LTBCOIN (5,000) but got outbid.

  Posted on July 4, 2014 at 8:42 PM
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• dgiors

  

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  No intention to be rude here. What are the implications of bidding on your own network's airtime? Isn't that a conflict of interest like being a shill in a bidding war? Perhaps I misunderstand who receives coins paid for airtime. Who has authority to grant airtime to hosts like yourself? Is your only access to airtime apart from your typical hosting duties only available to you through purchase with LTB Coin?

  This may already be addressed elsewhere. I'm just curious how you intend to maintain a level playing field.

  Posted on July 5, 2014 at 2:59 PM
  Last Edited: July 5, 2014 at 2:59 PM
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• adam

  

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  @dgiors No intention to be rude here. What are the implications of bidding on your own network's airtime? Isn't that a conflict of interest like being a shill in a bidding war? Perhaps I misunderstand who receives coins paid for airtime. Who has authority to grant airtime to hosts like yourself? Is your only access to airtime apart from your typical hosting duties only available to you through purchase with LTB Coin?

  This may already be addressed elsewhere. I'm just curious how you intend to maintain a level playing field.

  No offense taken. Basically everyone is free to do whatever they want with their LTBCOIN, as they are with their shows so this will vary from creator to creator. In our case, LTB has one or two breaks per episode and when we were doing canned ads it was 2 minutes (four thirty second slot) and now its three 2.5-3 minutes (Anthony Di Iorio's 30s he pre-paid a year on in February plus two 45 second spots we're auctioning here)

  I really don't like fap on my show, it pisses me off and wastes peoples time and I don't want people to feel that I am abusing my platform, which is not my intent. So I almost never put in personal stuff that takes more than a mention. Bidding on sponsor time means I can sponsor the show myself (at the cost of recieving LTBCOINS which obviously is not a gain if I am sponsoring myself), but it allows me to get my message out same as you without feeling as though I'm abusing my position in the system.

  I'll also be bidding on airtime on other shows for the same reason. We all play by the same rules.

  Posted on July 5, 2014 at 3:21 PM
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• dgiors

  

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  @adam

  No offense taken. Basically everyone is free to do whatever they want with their LTBCOIN, as they are with their shows so this will vary from creator to creator. In our case, LTB has one or two breaks per episode and when we were doing canned ads it was 2 minutes (four thirty second slot) and now its three 2.5-3 minutes (Anthony Di Iorio's 30s he pre-paid a year on in February plus two 45 second spots we're auctioning here)

  I really don't like fap on my show, it pisses me off and wastes peoples time and I don't want people to feel that I am abusing my platform, which is not my intent. So I almost never put in personal stuff that takes more than a mention. Bidding on sponsor time means I can sponsor the show myself (at the cost of recieving LTBCOINS which obviously is not a gain if I am sponsoring myself), but it allows me to get my message out same as you without feeling as though I'm abusing my position in the system.

  I'll also be bidding on airtime on other shows for the same reason. We all play by the same rules.

  Thanks for the quick response.

  I take it fap means Free Ad Placement? If not this conversation took a real turn LOL.

  Am I clear that you receive the LTB Coin for ads placed on your show. Therefore if you outbid somebody for a spot on your show you are not obligated to pay yourself, you're just out the LTB Coin somebody else would pay. In other words your bid is like setting a minimum price for the spot. If you bid 5,000 then you're saying that any bids less than that aren't worth giving up the slot to somebody else because you'd rather use it yourself?

  Hope I've got it right. Seems fair that way. I can easily imagine this is one of the many potential problems that wasn't evident right away when you first imagined launching LTB Coin. It's no wonder it's taking a while to work out all the details.

  Posted on July 6, 2014 at 1:22 AM
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• brenner100

  

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  its like bidding on your own auction on ebay i guess to have a minimum price

  Posted on July 6, 2014 at 5:45 AM
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• adam

  

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  @dgiors

  Yep - Fap = something pleasing for one person and pretty boring for everyone else, and you've got it exactly right.

  Also note that I don't sock-puppet, I do this in the open because we're all playing by the same rules.

  Posted on July 6, 2014 at 7:08 AM
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• MikeJohnson

  

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  @adam @dgiors

  Yep - Fap = something pleasing for one person and pretty boring for everyone else, and you've got it exactly right.

  Also note that I don't sock-puppet, I do this in the open because we're all playing by the same rules.

  The fact that you are being so open about this is an awesome thing. I've been really impressed by the transparency that you and others on the LTB network have shown.

  I think you are in the midst of creating something really awesome and I've been quite impressed by it.

  Keep it up.

  Posted on July 6, 2014 at 10:14 AM
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• William

  

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  The interesting thing in all of this to me is not whether or not Adam bids on his own commercial slots--it is his show, he could bid if he wants, or just put in his own extra spot on his own initiative, whatever. What is interesting to me is how is he going to continue making enough money from this show now that LTBcoin is in the picture, compared to before when he just sold those slots and presumably got cash? I can't remember the exact figure, but I think he mentioned somewhere that he was making $300 or 500 or so per show from the ads? I mean, with all the production effort and other aspects of work that goes into making this show, it's not a trivial undertaking. Presumably adam needs to make a living off of his work. I think the idea is that he can sell his LTBcoin to the advertiser (on an exchange, or whatever) and then the advertiser uses that to buy the airtime? But if there are already 2 million+ coins out there (do we know how many have been distributed, BTW?), why does anyone need to buy them right now? And, how do we know they would buy them from Adam, who is the one who is supposed to be making a living off of this. Do I make sense?

  Posted on July 6, 2014 at 10:36 AM
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• adam

  

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  @william The interesting thing in all of this to me is not whether or not Adam bids on his own commercial slots--it is his show, he could bid if he wants, or just put in his own extra spot on his own initiative, whatever. What is interesting to me is how is he going to continue making enough money from this show now that LTBcoin is in the picture, compared to before when he just sold those slots and presumably got cash? I can't remember the exact figure, but I think he mentioned somewhere that he was making $300 or 500 or so per show from the ads? I mean, with all the production effort and other aspects of work that goes into making this show, it's not a trivial undertaking. Presumably adam needs to make a living off of his work. I think the idea is that he can sell his LTBcoin to the advertiser (on an exchange, or whatever) and then the advertiser uses that to buy the airtime? But if there are already 2 million+ coins out there (do we know how many have been distributed, BTW?), why does anyone need to buy them right now? And, how do we know they would buy them from Adam, who is the one who is supposed to be making a living off of this. Do I make sense?

  Yep, it makes sense entirely except for one thing... I don't actually need to make a living off of this, and certainly not in the short term. Pretty much all the funds we've brought in via sponsorships have been reinvested into travel for conferences, building the new platform, the first app, experimenting with radio for three months, etc.

  Would I like to make money? Sure! but the point is to see if this can succeed, and that might take a while.

  No rush.

  Posted on July 6, 2014 at 12:01 PM
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