I am extremely bullish on Bitcoin. I think if it doesn't reach $1 Million by 2050 than it's because the world has come to an end. Check-out my post, Global Fiat Market Cap is Worth $117 Trillion USD. Bitcoin Still Under 1% of Global Money Supply. So when I get involved in "Alt Coins" it's because I feel they have potential to outperform BTC. But there's also several tokens I hold because I literally use them as utility tokens and nothing else. I have no plans of selling them. I wanted a few for their utility to support content on my LBRY channel and I knew that I wanted to upload a lot of content so I thought it would be a good idea to buy a lot of tokens.
I'm sure most of us have had a similar experience at an arcade or so-called, "family fun center", like Chuck E Cheese's. We buy tokens in these places which serve a purpose, they have "utility". Tokens may be used for bumper cars, batting cages, miniature golf, arcade games, or even food. The tokens are the currency of the fun land. It's cool because it allows these places to change their prices dynamically so tokens may purchase more or less of a given activity based on the fluctuating costs of operating those activities. It also enables the business to pre-sell many of its services in a generalized way. This also gives customers the flexibility to purchase a set quantity of tokens all at once, so they can make optimal use of them over time.
If we return to Chuck E Cheese's a few weeks later with some unspent tokens, and the price of games has increased or decreased, have we realized a profit or a loss? Why didn't Chuck E Cheese issue us a prospectus when they sold us these unregistered securities? The answer is that because neither Chuck E Cheese or LBRY are issuing securities. They are issuing utility tokens. This is an important functionality for a business incurring high start-up costs and undefined sales targets. Utility tokens are identical to the thousands of rewards points systems used in grocery stores, credit card promotions, and coffee shops across the country. If the SEC really wants to go after predatory rewards points systems, they need to look into the time share industry. If they can understand whatever they're doing there, then LBC's tokenomics system should seem fairly simple by comparison. Consider the complexities and confusion of frequent flier miles and cash back at the gas pump for grocery store rewards perks? Does anyone know how any of that stuff works? What distinguishes those points systems from LBC?
LBRY has built something truly extraordinary which has the power to rival youtube. But the SEC is on their back for "selling unregistered securities". I've written recently about LBRY having become a target of the SEC and also about my concerns for LBRY's CEO, Jeremy Kauffman. But LBRY never sold any securities. LBRY sold utility tokens just like Chuck E Cheese's does. Why isn't Chuck E Cheese's being sued by the SEC for selling unregulated securities to millions of children over a period of several decades? What makes their tokens different than LBC? I still don't have a clear understanding of the distinction. The price of LBC utility tokens describes how much service they can purchase from the LBRY blockchain network. LBC is the LBRY network token used for a variety of purposes when interacting with the LBRY blockchain. LBC are needed to pay network processing fees when uploading content. LBC can be staked to videos and channels in order to "support" them by increasing their search ranking. So when you visit the digital "family fun center" of LBRY, you can use your LBC tokens however you wish. They may purchase more video uploads or just boost an existing video.
I'm really not worried about the LBRY platform and blockchain. I'm a huge fan and supporter of the project. I think it's the clear winner among the alternative video platforms presently available. Jeremy Kauffman has recently spoken at length about the situation and he continues to be a very transparent and accountable leader. It's funny when you just firmly believe in the community robustness and censorship resistance of a project with such conviction that your confidence in the utility token isn't shaken when there is FUD. As long as the application works sufficiently, the only concern is how much utility the community using the platform gives to the utility token. In the case of the LBRY / Odysee community and the LBC token (it's technically a coin because it's on its own blockchain, but whatever), I have unwavering faith that the project will endure and succeed. I will keep my utility tokens because I plan on coming back to earn and use more super useful LBC utility tokens which are absolutely in no way like conventional stocks which have the sole utility of representing fractional ownership in a corporation.
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Centralized Services (Block To The Future Referral Links)
Coinbase (necessary evil for buying crypto with USD)
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Kucoin (best of the centralized exchanges, also has USD buy option)
Bittrex (meh, okay... also has USD buy option)
Binance (used to love it, now, not so much)
BlockFi (so far so good, decent interest rates, not really an exchange though)
Robinhood (get free stock for signing up then dump Robinhood when we have a good blockchain synthetics market)
Coinseed (awesome way to buy crypto with your debit card transaction round-ups)
OpenSea (huge NFT auction site)
Virtual Private Server Referral Links for Running Nodes
DigitalOcean (use it all the time. great value. get $100 free credit for 60 days using my link)
Vultr (also use it regularly. get $100 free credit for 30 days using my link)
Other Stuff I'm Shilling
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