Hey All,
Its a sad story for LBRY Incorporated; where they indicated that its an END to the company coz. of all legal matters with SEC [Securities and Exchange Commission]. The LBRY team stated it on their twitter handle that the company LBRY Inc. is winding down but the #LBRY network is unaffected. So what does it mean for the token LBRY Credits #LBC? The token is down 1% today and is currently trading almost to pennies - is it going to ZERO?
LBRY Inc. has debts to the SEC, its legal team, and a private debtor that it cannot pay. Its assets, including Odysee, are being placed into receivership. As of this post, all LBRY executives, employees, and board members have resigned. All will be doing what is required to satisfy any outstanding legal requirements, but no more.
LBRY platform helped me earned close to 168K+ #LBC tokens. No doubt, I did buy LBC as well considering what all it has to offer a blockchain-based file-sharing and payment network that powers decentralized platforms, primarily social networks and video platforms. Here are some of the benefits of the platform::
- Get paid for any content; may it be Videos, Posts, Pictures you can get LBCs for all of them.
- Censorship resistant; your content remains on the blockchain forever
- Decentralized; the community has the say and stake. No central authority and control
- Ads FREE, watch your favorite videos without any Ads
In a nutshell LBRY = Content Freedom and that too content of Any Type that's the beauty. I unlocked all my tips and support from the LBRY platform and have all the #LBC liquid now. But then with current trading price its not more than $800 dollars. It is definitely going to ZERO until there is some sort of news that comes out support the #LBRY network and its protocol. I did hear Odysee has some plans or there are some discussions going around collaborating with Arweave AR network. But how much is true is questionable.
Both Odysee and Arweave are now working on “fully decentralizing Odysee on top of Arweave as well as developing new non-tokenized products, that continue to imbibe Odysee’s values and push the notion of a fully decentralized media ecosystem forward.”
For more information about - Odysee Announces Its “Future Is Solid,” Shares Plans To “Fully Decentralize” check the news Here. If the plan of Odysee and Arweave becomes successfully then definitely we would be seeing a new token emerge and who knows there could be some Airdrop for #LBC token holders. But this all my assumption so please DYOR, before taking action. And finally on a side note - I didn't sell the 168K+ #LBC tokens that I #HODL though there are no hopes but exiting here I didn't feel doing it would be BEST....cheers
LBC - Going to ZERO? - What will happen to Odysee?
#lbc #odysee #hodl #sec #lbry #protocol #content #video #credits
Have Your Say LBRY Credits #LBC is it going to ZERO?
Do you still HODL LBC token? Selling Vs HOLD LBC? What are your thoughts on LBRY filing a Notice of Appeal against the SEC? The END of LBRY Inc? Do think we could see a come back for LBC? Please let me know in the comment section below...
Image Courtesy:: lbry,odysee, twitter, thecoinrepublic
Best Regards
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've an interest in Blockchain & Cryptos and have been investing in many emerging projects..cheers