4 ms·
Walk me through the process. Lets assume I made a film. 1) where does the film get uploaded to? 2) how do I get $$ out of this process so I can pay rent? 3)
by mondo9000 8y ago
Walk me through the process. Lets assume I made a film.
1) where does the film get uploaded to?
2) how do I get $$ out of this process so I can pay rent?
3) how do you pay your investors back?
- perlgeek 8y ago4) how can you retract the film, should the necessity arise?
- seanyesmunt 8y agoYou can `abandon` your claim. https://spec.lbry.io/#claim-operations https://spec.lbry.io/#claim-operations This removes it and gives back your deposit for staking a lbry url.
- lyoshenka 8y agoI'm gonna describe a very simplified version of the process. 1) The film is post to the LBRY network in two steps: a) The film is broken up into chunks. the chunks are announced on a Bittorrent-like DHT (part of the LBRY protocol). b) A hash of the file is included in a transaction on the blockchain. the transaction also includes some information about the film itself (e.g. name, description, trailer, etc), and information on how to pay for the film (address and price). we call this the "metadata". 2) When someone goes to download the film, their client sends LBC (the blockchain token) to the address in the metadata. You can trade the LBC for Bitcoin, and then sell the Bitcoin for $$$. 3) If LBRY is successful and a lot of people want to use it, demand for LBC will increase and its price on exchanges will go up. LBRY can then turn the LBC we hold into dollars. We've been documenting how we use our LBC here: https://lbry.io/credit-reports https://lbry.io/credit-reports