YouTube and Facebook Are Losing Creators to Blockchain-Powered Rivals

Re:YouTube and Facebook Are Losing Creators to Blockchain-Po... by wernsey on Tuesday April 10, 2018 @08:19AM (#16800755)

I find it an interesting concept, but as with so many of these solutions I don't really see why you have to have Bitcoin Cash to make it work. They could charge your credit card for upvotes and pay you in fiat like Patreon does, and the functionality will be exactly the same from the end user's perspective.

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Re:YouTube and Facebook Are Losing Creators to Blockchain-Po... by nodja on Tuesday April 10, 2018 @08:48AM (#16800924)

I think it boils down to payment processing fees. For patreon for example it would be super inconvenient (and expensive) to process all payments individually, so payments are made in bulk. This is why monthly payments are the standard.

With crypto you can perform instant sub $1 payments with minimal fees (blocks aren't full so it's super low atm). It also saves not having to handle chargebacks, fraud, etc.

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Re:YouTube and Facebook Are Losing Creators to Blockchain-Po... by odrekf on Tuesday April 10, 2018 @09:26AM (#16801144)

If you need your credit card, then you can be censored. That's why it uses Bitcoin (BCH) instead.

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