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RE: The important aspect of LBRY that everyone seems to miss
Not completely understanding what you're saying. Is this any different than someone squatting on a web domain name or even a domain on Ethereum?
Once you have a domain on Ethereum, you have total control over it. You can set the price if someone wants to buy it, but no-one can force you to sell it. If you have the domain "Avatar", you can profit handsomely. Thus there is an incentive to squat names.
On LBRY it's different. The system can and will take a domain from you, and give it to the person who is willing to bid more LBC than you - who is very likely the rightful owner of the brand in question. In effect you can't squat names. At best it's only temporary, but it serves to bootstrap the network. There is an incentive to aquire popular names and provide the media in question - so to make some revenue, but only until the rightful owner comes. The pirater will not get disproportionate profit, only the same increase in value as all other holders when the owner accumulates enough LBC to bid.
I hope this helps
Aha! It's first time when I hear about LBRY and LBC. After this explanation I understand the idea. I think you should include this comment in the article. :)
I'm glad there's a discussion section, as I am incapable of writing complete articles :-)
Oh got it. Let's say I got avatar for 100 LBC, then the real owner came along and bid 200 LBC....would I get the 200 or would I just get my 100 back?
Yeah, you got it. You would get 100 back. You would have also got the revenue from the time you provided the network your "service".
That is genius actually.