The end is near
Long back YouTube cancelled my monetization and left me completely dishearten. As an original content creator, I felt very bad and was in a position to completely stop making videos.
My Channel:https://www.youtube.com/user/tarantula3
Then one day one of my mates told me about LBRY. LBRY is a content sharing platform that uses blockchain technology to allow users to publish material and monetize their published content with its integrated payment system. It is a system which combines the great technical advantages of Bitcoin and Bittorrent services for people who want to share content.
Bang!!!! I became a massive fan of this and started posting my videos on LBRY. LBRY wants to be an alternative to sites like YouTube, Instagram and Spotify, allowing publishers and their fans to interact directly, without the risk of demonetization.
Content uploaded to the LBRY decentralized network remains publicly accessible as long as the community finds it valuable and continues to host it.
My Library Channels:
Arduino: https://odysee.com/@Arduino:7
Wood Working: https://odysee.com/@WoodWorking:c
Cardboard DIY: https://odysee.com/@CardboardProjects:a
After being with LBRY for so long an email from LBRY Creators completely broke my heart.
So, I guess it is now time for me to sell all my LBRY Credits and stop using this website.
The news went out like a wildfire and the price of LBC fell from the sky
Are your LBRY Credits safe?
As per the creators "Yes, all of your Credits remain yours and remain usable even after the SEC’s complaint is filed and regardless of the outcome."
Is the LBRY network in danger?
The LBRY network is robust and decentralized, and far harder to disrupt than LBRY Inc. Hundreds of people across six continents contributed to LBRY last year (c’mon Antarctica!). Even in the scenario that LBRY Inc is literally destroyed by the SEC as a result of this lawsuit, the LBRY project will continue. But I am still paranoid.
What’s the timeline?
LBRY Inc has been under investigation for three years now, since May of 2018.
The SEC repeatedly requested documents from LBRY Inc, at times doing so in overbearing and costly ways that seemed punitive. If it’s true that LBRY Inc violated the law in the ways the SEC alleges, all of the relevant facts were clearly known to the SEC by the fall of 2018. We’re glad to finally be getting through this painful process and to be allowed to express their positions to the public and in court.
The trial will likely not be resolved in 2021.
Will LBRY Credit distribution, rewards program, or anything else change as a result of this case?
At this time, they do not expect any of these programs to change. Some exchanges may choose to no longer allow U.S. customers to exchange LBRY Credits. As per the creators, they do not expect any other changes until the case is resolved. Full list of available exchanges: https://lbry.com/faq/exchanges
Where can I view the full complaint?
The full complaint can be viewed at : odysee.com/secvslbrycomplaint
How can I support LBRY Inc in this case?
Share this story on social media, in your own words, using the tag #helplbrysavecrypto. Or you can just share a link to: helplbrysavecrypto.com
Sign the petition.
Donate to our defense fund.
If you’re involved in one of the hundreds of other blockchain companies being investigated by the SEC, tell your story. The SEC doesn’t want you to talk because your silence helps them. By talking, we can coordinate our response. Until one of us wins, we’ll continue to be digested, bit by bit.
Read more here: https://odysee.com/@lbry:3f/helplbrysavecrypto:b