Think Again!
If you have joined Lbry, as it appears many Publish0x users have, you have probably been really happy with the earnings. Post your videos, memes and whatever else you like and earn Lbry Credits!
It sounds pretty amazing and when you see the tips come rolling in, you know it's amazing. The only problem is that there is a very big misconception regarding the Lbry platform and how it actually operates. After publishing your post, you can head on over to your channel and see how good it looks with that inviting "TIP" button placed just under your content.
When the tips start rolling in users believe that visitors are actually tipping their content and that their contribution is actually being found valuable and enjoyable. However, there is something else at play.
Think About It
Here is a thought... Imagine for a moment that Publish0x never sponsored the readers with Crypto to tip the articles they enjoy. What if the readers had to fund their own wallet balances in order to tip content they enjoyed? Would publishers still receive tips for their hard work and effort on the platform?
Somehow, I don't think so... That is unfortunately the reality of Lbry! If you want to tip content, you have to purchase LBC. Little to none of the tips are actually coming from the users of Lbry! The platform operates on an algorithm that distributes tips according to views and other metrics. The problem with a model like this is that only publishers are incentivized to make use of the platform.
Publish0x on the other hand provides incentive for publisher and reader alike. Sure, you can earn daily rewards that can be used to tip content but these rewards are not restricted to tipping. Users can and will withdraw their own earnings, wouldn't you? Publish0x also provides funds to tip but those funds are secured and can only be used as tips.
Readers can't choose to withdraw the daily allocation for tips. So unless Lbry intend to be the only ones tipping content going forward, it does not appear to be the smartest model. I know a lot of people earn good money on Lbry and that's great but I just don't see longevity using the current model.
It's Not Really Decentralized
A lot of people make the argument that it's the decentralized option for users facing bans and shadow bans on YouTube. Well... Not really! Lbry is not decentralized at all, your content can also be removed or censored. Your account can also be blocked for violation of policy and certain publishers are not permitted to receive tips from the Lbry platform.
Imagine only certain publishers were able to receive tips from Publish0x? When you are earning good money on the platform you don't consider the negatives.
Sounds very selective and not very fair at all. So, unless you are already appeasing the Lbry algorithm god... I would not really advise a shift. I choose to offer honest and critical views on Crypto projects. Where honor is due it must be given and where caution is needed it must be given. Views are my own, make educated choices!
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