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38d
Govt Sues LBRY, Endangering ALL Crypto!



https://odysee.com/@NaomiBrockwell:4/Govt-Sues-LBRY:7?r=DzXweqFwrKKy9W5nrSXLok6w9Secrgc8
replied 37d
This suit does NOT threaten "all of crypto" -- just chains with scammy "utility tokens" (specially ones like LBRY with a premine) that basically act as a way of funding a company.
replied 3d
Heaven forbid developers would actually want to be paid for their work...
replied 3d
LBRY Inc. gets paid by the amount of usage and LBC they get from their vids, that is to say not much. The "premine" is why LBRY has rewards. No premine, no rewards, no new users sadly.
replied 37d
Same test the SEC applied to Ripple XRP, also applies to LBRY.
Does not apply to coins that are fairly mined via PoW, nor to coins without a corporation/foundation.
replied 36d
Do you even understand how LBRY works?
replied 36d
More familiar than anyone who hasn't browsed the source code.
https://github.com/lbryio/
You do know LBRY had a premine, yes? And that LBRY coins were given away to grow the company?
replied 36d
The SEC allegations LBRY, Inc and Ripple, Inc are basically the same.
replied 36d
There are decentralized video services that don't depend on a scamcoin, and don't require any corporation.
https://peer.tube
replied 3d
Why is LBRY so much more popular?
replied 36d
I do not think a premine defines what a security is, Ethereum also had a premine...
replied 36d
Just curious: are you a lawyer, and do you specialize in crypto IP law? Because IANAL, but my understanding comes from such a person.