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Watch the first LTBCoin Q&A Now!

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• Light

  

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  Location: KCH MY

  Adam, I have listened to this twice. I still feel something is missing.
  I'm looking at this from how the coins flow from 1 scenario to another.
  Most coin stuck at content creators.
  Is there a remedy to that?
  (And I doddle the diagram below to understand the flow of coins.)
  

  Posted on March 20, 2014 at 2:29 PM
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• adam

  

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  If you re-draw that chart for Bitcoin I think you'd find it looking like miners get nearly all of it, because they're the ones who get it first.
  In practice I think we've seen that most miners sell large quantities of their coins because they'd like real money they can spend right now.   I expect this to also be true about content creators, they'll be glad for the LTBCoin and keep some of it but the Bitcoin they can sell it for will be more valuable to them in the short term.
  So basically, just make the arrows going between LTB Content Creators and Exchanges much bigger, and also connect Advertisers to Exchanges as they'll have ongoing large quantity needs which doesn't make sense to come from the audience.   The audience will be a player in the game too, but I expect some large advertisers in our ecosystem.

  Posted on March 20, 2014 at 3:51 PM
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• Light

  

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  Thanks for the insight.
  Rework the diagram a little too.
  
  

  Posted on March 20, 2014 at 4:22 PM
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• faceface

  

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  Can someone explain DAC (or is it DAX (people saying DACs?)) to me? What does it stand for?
  I'm really interested in a coin to incentivise certain aspects of crowd-sourced productive behavior to benefit society in general :D
  I have an idea that (I think) could be backed by a token using 'pictographic proof of work' ;-) so I'm interested in the mechanics of setting up a token that can function as a reward for certain types of behavior combined with something like a 'reddit-like' web-of-trust.
  In previous lives I've tried to boostrap communities behind science-wiki (data-wiki/structured wiki) projects. My idea currently is to build something a bit more broad base with a gamification element... a coin instead of a score is a natural fit.
  Hmm... Perhaps I should post this elsewhere...
  What's a DAC?

  Posted on March 20, 2014 at 11:25 PM
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• Shatteredzen

  

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  Loved the Q&A, thought Andreas coming in near the end was great. I was kind of disturbed that one of the guests who started in the beginning bailed out after a few minutes because they thought the show was about bitcoin and didn't seem to want to contribute to anything else. I'd recommend this to anyone wanting to know more about LTBcoin, it settled alot of questions and concerns I had about future plans and distribution.
  

  Posted on March 21, 2014 at 3:03 AM
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• saeed

  

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  Had a chance listen to the Q&A earlier today. Really liking the idea as content creators as 'miners'. Seems like it could bring a lot of value.
  Also @Light, nice diagram it's really helpful to see things visually.

  Posted on March 21, 2014 at 5:41 AM
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• DaveMcG

  

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  Was a great chat, will try be there for the live one tomorrow.

  Posted on March 21, 2014 at 11:14 AM
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• adam

  

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  DAC is Distributed Autonomous Consensus

  Posted on March 21, 2014 at 1:10 PM
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• Louie2001912

  

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  Can't wait to catch the next live Q&A

  Posted on March 22, 2014 at 1:10 AM
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• Coffeefire

  

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  @faceface - I thought DAC was Distributed Autonomous Company / Corporation - heard it used a lot with Etherium and Invictus projects

  Posted on March 22, 2014 at 4:57 PM
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