 | Odysee International | 1142 Members |
| Odysee Community BackUp Room | 6 Servers |
| Odysee International | 1142 Members |
| Odysee Community BackUp Room | 6 Servers |
| Sender | Message | Time |
|---|---|---|
| 26 May 2022 | ||
 Painty joined the room. | 15:11:07 | |
 Pipeliner | what is a a Picard facepalm emoji | 15:21:20 |
 miko#4837 | The token isn't the important thing, it's just a way to interact with the blockchain. (And USD wouldn't work for that) I assume you are at least slightly familiar of what is blockchain and how/why it works, but if not, check this https://odysee.com/@3Blue1Brown:b/ever-wonder-how-bitcoin-and-other LBRY blockchain works more or less same than Bitcoin, but it also has some additional functionality which allows you to store name:value pair of data within the transaction. (This would be the lbry_url and metadata of the file/channel/etc.)And since blockchain is used, and the way that LBRY uses it, you can confirm that data you received from server, is the exact same data that was originally recorded in the database by the publisher. (You can check if server is lying to you or not) These may help with understanding the LBRY https://lbry.tech/spec https://github.com/lbryio/lbry-sdk/wiki/RPC-result-verification-FAQ Regarding other stuff: You do pay for making a transaction, but there are two parts to it. 1. The deposit amount gets "locked". It is still your, but you can't spend it until you delete the publish. 2. You also need to pay transaction fee, this goes to the person who confirms the transaction, aka. miner. Transaction fee varies, based to the size of the transaction data, it's still generally less than 0.001 LBC Being able to use LBC to increase content's trending score, is more like a nice-to-have thing, than a perfect solution. The thing which makes it nice, is that it creates a decentralized(not controlled by any single entity) voting system. Not perfect, but better than anyone being to able create votes out of air, or someone deciding if vote is good. Though how the voting for trending works, isn't enforced by the core protocol, as the actual interpretation of them happens on higher level. (Different hub servers could use different trending algorithms. They could also completely ignore the LBC based trending). | 15:37:57 |
| miko#4837 | * The token isn't the important thing, it's just a way to interact with the blockchain. (And USD wouldn't work for that) I assume you are at least slightly familiar of what is blockchain and how/why it works, but if not, check this https://odysee.com/@3Blue1Brown:b/ever-wonder-how-bitcoin-and-other LBRY blockchain works more or less same than Bitcoin, but it also has some additional functionality which allows you to store name:value pair of data within the transaction. (This would be the lbry_url and metadata of the file/channel/etc.)And since blockchain is used, and the way that LBRY uses it, you can confirm that data you received from server, is the exact same data that was originally recorded in the database by the publisher. (You can check if server is lying to you or not) These may help with understanding the LBRY https://lbry.tech/spec https://github.com/lbryio/lbry-sdk/wiki/RPC-result-verification-FAQ Regarding other stuff: You do pay for making a transaction, but there are two parts to it. 1. The deposit amount gets "locked". It is still your, but you can't spend it until you delete the publish. 2. You also need to pay transaction fee, this goes to the person who confirms the transaction, aka. miner. Transaction fee varies, based to the size of the transaction data, it's still generally less than 0.001 LBC Being able to use LBC to increase content's trending score, is more like a nice-to-have thing, than a perfect solution. The thing which makes it nice, is that it creates a decentralized(not controlled by any single entity) voting system. Not perfect, but better than anyone being to able create votes out of air, or someone deciding if vote is good. Though how the voting for trending works, isn't enforced by the core protocol, as the actual interpretation of them happens on higher level. The actual votes are stored in blockchain (Different hub servers could use different trending algorithms. They could also completely ignore the LBC based trending). | 15:39:52 |
| miko#4837 | * The token isn't the important thing, it's just a way to interact with the blockchain. (And USD wouldn't work for that) I assume you are at least slightly familiar of what is blockchain and how/why it works, but if not, check this https://odysee.com/@3Blue1Brown:b/ever-wonder-how-bitcoin-and-other LBRY blockchain works more or less same than Bitcoin, but it also has some additional functionality which allows you to store name:value pair of data within the transaction. (This would be the lbry_url and metadata of the file/channel/etc.)And since blockchain is used, and the way that LBRY uses it, you can confirm that data you received from server, is the exact same data that was originally recorded in the database by the publisher. (You can check if server is lying to you or not) These may help with understanding the LBRY https://lbry.tech/spec https://github.com/lbryio/lbry-sdk/wiki/RPC-result-verification-FAQ Regarding other stuff: You do pay for making a transaction, but there are two parts to it. 1. The deposit amount gets "locked". It is still your, but you can't spend it until you delete the publish. 2. You also need to pay transaction fee, this goes to the person who confirms the transaction, aka. miner. Transaction fee varies, based to the size of the transaction data, it's still generally less than 0.001 LBC Being able to use LBC to increase content's trending score, is more like a nice-to-have thing, than a perfect solution. The thing which makes it nice, is that it creates a decentralized(not controlled by any single entity) voting system. Not perfect, but better than anyone being to able create votes out of air, or someone deciding if vote is good. Though how the voting for trending works, isn't enforced by the core protocol, as the actual interpretation of them happens on higher level, the actual votes are stored in blockchain (Different hub servers could use different trending algorithms. They could also completely ignore the LBC based trending). | 15:40:04 |
 belikor#5802 | You need to pay LBC to write to the blockchain, the database, that's how all blockchains work. Blockchains record transactions; if there is no transaction nothing is recorded. Yes, databases have existed forever, but the innovative point of blockchains is that they are naturally decentralized, meaning that a single entity doesn't control who can write to the blockchain; it is said to be "permissionless", you don't need permission from a central authority. You don't need permission from Odysee to write to the blockchain, you can just do it yourself. You do not understand the technology, in the pure LBRY protocol it is not Odysee doing the boosting with LBC, the decentralized LBRY network does it itself without intervention from Odysee. | 15:46:46 |
 nmox | Miko guy is good at explaining | 16:58:44 |
| nmox | Lets say then Lbry/odysee needed blockchain to work. Blockchain being the database methodolgy, not coins/tokens. Then the database can be updated, maintained by USD instead of lbry token, possibly in a decentralized way. | 17:01:59 |
| nmox | Instead of using lbry tokens for paying miners to control the blockchain methodogy, can USD be used for paying them. To maintain a decentralized database. | 17:03:27 |
| nmox | * Instead of using lbry tokens for paying miners to control the blockchain methodogy, can USD be used for paying them. To maintain a decentralized database by nakamoto consensus | 17:07:13 |
| miko#4837 | How would that work? I think you would need some centralized point(s) to deal with the USD transactions(unless using cash, but that sounds inconvenient) Also would data be added to blockchain first, or would payment happen first? And how to enforce that both happen? | 17:11:42 |
| nmox | My first question was that, 'Is blockchain needed for lbry protocol to work, (here blockchain refers to database methodology + lbry token). After anaylyzing the answers, and putting some answers myself, I came to conclusion that, Yes blockchain was needed for lbry protocol to function in decentralized censorship-resistant manner (here database only refers to database methodology and not the database +token). Then, the second question is if lbry protocol needed blockchain to work (database methodology), then does it also need lbry token to work. The answer would be somewhat. If we use USD (fiat) for it, then cash is only way to do it (which is not possible) so to some extent it also needed lbry token to function in decentralized censorship-resistant manner. | 17:24:19 |
| nmox | In reply to @_discord_566977074989105152:t2bot.ioIn a hypothetical scenario where cash is used for lbry to work in decentralized censorship-resistant manner, payment would be needed to done first. | 17:26:13 |
| nmox | * My first question was that, 'Is blockchain needed for lbry protocol to work, (here blockchain refers to database methodology + lbry token). After anaylyzing the answers, and putting some answers myself, I came to conclusion that, Yes blockchain was needed for lbry protocol to function in decentralized censorship-resistant manner (here database only refers to database methodology and not the database +token). Then, the second question is if lbry protocol needed blockchain to work (database methodology), then does it also need lbry token to work. The answer would be somewhat Yes. If we use USD (fiat) for it, then cash is only way to do it (which is not possible) so to some extent it also needed lbry token to function in decentralized censorship-resistant manner. | 17:26:53 |
 Lava changed their profile picture. | 17:51:27 | |
| Lava changed their display name from Lava#3253 to Lava. | 17:51:29 | |
 ri8 joined the room. | 18:17:45 | |
 Vovoblogueiradf joined the room. | 18:39:54 | |
 ClaudiuHNS joined the room. | 21:34:50 | |
 Apocryphos changed their display name from Apocryphos to Apocryphos#1090. | 22:57:01 | |
| Apocryphos changed their display name from Apocryphos#1090 to Apocryphos. | 22:57:03 | |
 manito | isn't it too late to make a suggestion? | 23:11:27 |
| belikor#5802 | This doesn't make much sense; USD is something that belongs to the financial system, it comes from the central bank and all smaller banks; in order to use it in a computer system (like LBRY) you need to connect a bank account or something like that (the SWIFT system, Stripe, Paypal). LBRY is a standalone network, it only requires the Internet protocol to function (HTTP, TCP/IP, UDP). In a blockchain, the database and the coin or token are inseparable. The blockchain basically keeps track of numbers, these numbers are arbitrarily called "coins". These coins (like BTC or LBC) don't have any intrinsic value, they are just numbers in a computer; however, since users can send and received these coins, people have assigned a value to them depending on the supply and demand of the coins. So to function, LBRY doesn't need money, it doesn't need USD, the only thing it needs is these arbitrary numbers called LBC. The fact that LBC have any value in USD (say, 0.01 USD/LBC) is a consequence of the free market, not a consequence of the LBRY system itself. | 23:20:01 |
 Babs | Why do videos take way too long to confirm? | 23:33:02 |
| belikor#5802 | They don't take too long. They take between 2.5 minutes and 10 minutes. The highest time spent is in actually uploading a video, depending on its size, which could be 100 MB to 4 GB or so. | 23:42:35 |
| Babs | What about for hour long videos? | 23:42:37 |
| belikor#5802 | The confirmation is only about registering the data on the blockchain; each block is confirmed every 2.5 minutes on average, no matter the size of the video. Uploading the video is a separate thing, and that depends on your Internet connection. | 23:44:18 |
| belikor#5802 | So it could take 10 minutes, or half an hour, or whatever, depending on the file size. | 23:44:47 |
| 27 May 2022 | ||
 LaroTayoGaming#0992 changed their profile picture. | 00:39:23 | |
| nmox | K | 03:00:53 |