Kim Dotcom to release Bitcache for Youtube

[The Benjamins]

Bitcache is a Payment system Kim Dotcom is working on that relies on the Bitcoin network for small micro transactions where he is developing it for his launch of MegaUpload 2. The goal is to allow people to charge or allow donation as small as a few cents to download content which would eliminated the need for ads.

 

He is now going to also market this to Youtubers to allow for their communities to directly donate to the content creators.

 

I am interested to see were this idea goes, but am not putting anything on it until I see it working.

 

 

https://bitcache.com/ (currently a place holder site)

 

Quote

‘New Bitcache Video Gives Preview to the Pull Requesting, Ad-Free Web’. Or maybe that’s a bad description. Bitcache really gives rise to a new paradigm of web usage. Similar to the Basic Attention Token, which has a browser to go with it, the idea of Bitcache is not that people don’t want to pay for content, but that it’s too difficult for them to do so, or in the case of BATs, actually dangerous in terms of computer security.

Even users who watch ads on purpose have no idea how little money actually arrives in the account of the content creator. Barring sites like CCN or Hacked.com, where you can be sure the author is a professional earning a paycheck for his content (we can’t even say the same for many other sites in cryptosphere), most people have no way to ensure that the content they actually want to support ever receives their support.

Now imagine if there were a better experience. Imagine you’re one of the millions of people who gets your daily content from YouTube creators. Imagine that everytime you watched one of your favorite videos, instead of sitting through an Ad, signing up for a premium service from which most of the money goes to the host corporation instead of the creator who draws you back, you can just voluntarily contribute an amount that is equal or more than they were previously getting from their advertising partnerships. Kim Dotcom’s Bitcache appears ready to roll, aimed strictly at YouTube videos (for now).

https://www.cryptocoinsnews.com/new-bitcache-video-gives-preview-to-the-pull-requesting-ad-free-web/

 

Wikipedia

Quote

The general concept of Bitcache is that it provides an online reward structure for the mass online storage solution Megaupload 2.0. By linking every file transfer to a small bitcoin microtransaction, the Bitcache system provides a feedback mechanism to users with a value associated with each download.[1]

Bitcache is designed to overcome the scaling limitations of blockchain technology which restrict the number of transactions the bitcoin network can handle.[3]

User privacy will be protected using encryption.[4]

https://en.wikipedia.org/wiki/Bitcache

 

NOTE: Kim Dotcom lost control of Mega a while ago which is why he is working on this project in tandem to starting MegaUpload 2

 

UPDATE: This is a very good explanation to why Kim Dotcom is doing this.

57 minutes ago, Taf the Ghost said:

For those that have an idea where the Internet is going, this approach is something a lot of people have been working on. The "Free Internet" was always a lie. You're either paying for the product or you *are* the product. This is why Web 2.0 didn't work: no one was actually paying for the Front-facing products, which means all of the actions were focused on producing Back-facing profits. It's the reason quality keeps getting worse.

 

The problem, currently, is that actually paying for minor things is really expensive. You can't charge someone 5c for something. At $1USD, a creator is going to see maybe 25c from that. The Transaction Costs for the Internet are too high. This is why BlockChain approaches are being studied so much. There's potential to see the Transaction Costs drop by factor of 100. This will allow people to pay for things in 1c intervals without issue. You'll have an "online Wallet" of some form and just buy little things here & there. 

 

This is also important as is produces an online economy disconnected from the Transaction Costs of the base currency. Since the Internet is very much "global", this removes a lot of extra routing, costs and general issues. (Creates others, which will need to be dealt with.) Now, is Kim's venture going to do it? No clue! Someone will finally get it working, then Silicon Valley gets run over.

[Syntaxvgm]

google will fight this. 

and we need to fight them taking down stuff that doesn't match their political interests. 

We need a new platform. 

[The Benjamins]

1 minute ago, Syntaxvgm said:

google will fight this. 

and we need to fight them taking down stuff that doesn't match their political interests. 

We need a new platform. 

Ya I have no clue how he plans to do the integration, but his micro transaction payment system seems interesting to me if it works the way he says it does.

[Misanthrope]

So Patreon with Bitcoins before the inevitable removal of the basket of deplorables from Patreon?

[Syntaxvgm]

Just now, Misanthrope said:

So Patreon with Bitcoins before the inevitable removal of the basket of deplorables from Patreon?

yep. I still don't know how people like Sargon of Akkad haven't been cleansed under some 'hate speech' purge yet. 

[Misanthrope]

Just now, Syntaxvgm said:

yep. I still don't know how people like Sargon of Akkad haven't been cleansed under some 'hate speech' purge yet. 

Well one of the con lasses (Not sure if Lauren or Southern) have been kicked off it. Sargon will be kept busy with his pending copyright infringement Lawsuit which is at best not very clear cut fair use so that means arguing in court and that potentially means lots of time and money.

[Syntaxvgm]

3 minutes ago, Misanthrope said:

Well one of the con lasses (Not sure if Lauren or Southern) have been kicked off it. Sargon will be kept busy with his pending copyright infringement Lawsuit which is at best not very clear cut fair use so that means arguing in court and that potentially means lots of time and money.

wow didn't know about that until now 

 

fun 

[The Benjamins]

14 minutes ago, Misanthrope said:

So Patreon with Bitcoins before the inevitable removal of the basket of deplorables from Patreon?

One aspect of Bitcache is that you can do very small transactions for example $.02 to view a video with no ads. which could earn $2000 for a video of 100,000 paid views.

 

basically replacing ad views with direct payments.

 

EDIT: FP is $3 a month for 30~ videos which is $0.10 per video, with this system Linus could just charge $0.10 per video versus a monthly fee. which means for people that don't watch every video gets a savings or would be more inclined to pay. This is NOT possible on the credit card system due to price of the fees. (could be done if they had it add credit to a account but then the money is locked to FP.)

[Bananasplit_00]

id rather watch an add then pay any amount of money. if i can get it free with adds or paid then il go for free with adds every time. cool for people that hate adds though

[Misanthrope]

12 minutes ago, The Benjamins said:

One aspect of Bitcache is that you can do very small transactions for example $.02 to view a video with no ads. which could earn $2000 for a video of 100,000 paid views.

 

basically replacing ad views with direct payments.

 

EDIT: FP is $3 a month for 30~ videos which is $0.10 per video, with this system Linus could just charge $0.10 per video versus a monthly fee. which means for people that don't watch every video gets a savings or would be more inclined to pay. This is NOT possible on the credit card system due to price of the fees. (could be done if they had it add credit to a account but then the money is locked to FP.)

Sounds interesting because some people would be ok with adding 4 or 5 bucks per month to contribute to each video they watch for example instead of going through Patreon which needs to be at least 1 buck but becomes unfeasible for say 20 or 30 subscriptions if you can't afford 30 bucks per month.

[goodtofufriday]

18 minutes ago, The Benjamins said:

One aspect of Bitcache is that you can do very small transactions for example $.02 to view a video with no ads. which could earn $2000 for a video of 100,000 paid views.

 

basically replacing ad views with direct payments.

 

EDIT: FP is $3 a month for 30~ videos which is $0.10 per video, with this system Linus could just charge $0.10 per video versus a monthly fee. which means for people that don't watch every video gets a savings or would be more inclined to pay. This is NOT possible on the credit card system due to price of the fees. (could be done if they had it add credit to a account but then the money is locked to FP.)

I would galdy pay .02 cents per view

[MeDownYou]

So let's say it's like the iPass for cars you reach an add point and it pays the 5cents so you don't have to watch an ad basically turning ads into toll booths that take money instead of time... Honestly this is brilliant basically like paying a subscription for adds only the Bitcoin part sucks if it was PayPal too it would probably be a success. The reason is hardcore junkies will be paying the most and if it's 5 cents an add 100 videos would make. It competitive, and the casuals would get it and maintain it just because it's stupid cheap at 1 dollar for 20 add skips a 20 vids 

 

If YouTube music would do this and charge 5 cents an hour for no adds I bet that would be popular as well 

[Taf the Ghost]

For those that have an idea where the Internet is going, this approach is something a lot of people have been working on. The "Free Internet" was always a lie. You're either paying for the product or you *are* the product. This is why Web 2.0 didn't work: no one was actually paying for the Front-facing products, which means all of the actions were focused on producing Back-facing profits. It's the reason quality keeps getting worse.

 

The problem, currently, is that actually paying for minor things is really expensive. You can't charge someone 5c for something. At $1USD, a creator is going to see maybe 25c from that. The Transaction Costs for the Internet are too high. This is why BlockChain approaches are being studied so much. There's potential to see the Transaction Costs drop by factor of 100. This will allow people to pay for things in 1c intervals without issue. You'll have an "online Wallet" of some form and just buy little things here & there. 

 

This is also important as is produces an online economy disconnected from the Transaction Costs of the base currency. Since the Internet is very much "global", this removes a lot of extra routing, costs and general issues. (Creates others, which will need to be dealt with.) Now, is Kim's venture going to do it? No clue! Someone will finally get it working, then Silicon Valley gets run over.

[mr moose]

I don't think it will do anything for removing ads,  they work their way into everything regardless.  Remember when pay TV used to be ad free?  remember when youtube videos weren't sponsored and now we have a sponsor announcement on nearly all of them as well as the ad at the start etc?

 

The only way you will get rid of ads is if people stop clicking them.

[Nup]

Man I’d love for this to take off. 

[paddy-stone]

Could be a good thing I guess... I would like to see the creators get paid more money.

[The Benjamins]

Quote

As Fortune reported on Monday, Dotcom is looking for popular YouTube stars to test his new micropayments system, Bitcache. Now he's giving Fortune a sneak preview of K.im, a new online storage service that lets creators upload their files and make money every time people download them.
The idea behind K.im is to let people upload their songs, movies, or documents once and then propagate them across a plethora of other platforms: cloud storage services such as Dropbox and iCloud, peer-to-peer networks such as Kickass Torrents, and social media services such as WeChat and Weibo. When a creator uploads a file, they also get the code for a widget that they can embed on their own websites, inviting people to buy the file. Essentially, wherever the file goes, it takes with it the functionality to demand payment for using it.
"We have our own file type," Dotcom explains. "So to open [it] you will need one of our apps or third party apps that will use our [application programming interface]. That way we ensure that no matter where your file is hosted, the content owner gets paid."

 

http://fortune.com/2017/08/29/kim-dotcom-bitcache-bitcoin-payment/

[mynameisjuan]

On 8/28/2017 at 3:41 PM, Syntaxvgm said:

google will fight this. 

and we need to fight them taking down stuff that doesn't match their political interests. 

We need a new platform. 

Well yeah they will fight this....They are stealing their content then charging for it.

 

But as for platforms, there are plenty out there but whenever they get big politics will get involved whether you like it or not. Hell it floatplane gets the size of youtube and a bunch of subscribers get mad at a video and threat to leave unless its removed, its the same thing. A business is a business and will do anything to minimize loss.

[The Benjamins]

6 minutes ago, mynameisjuan said:

Well yeah they will fight this....They are stealing their content then charging for it.

 

But as for platforms, there are plenty out there but whenever they get big politics will get involved whether you like it or not. Hell it floatplane gets the size of youtube and a bunch of subscribers get mad at a video and threat to leave unless its removed, its the same thing. A business is a business and will do anything to minimize loss.

How is it steeling when it is a add on to the youtube page, the video will still be viewed on youtube but all users to give a few cents for enjoying the video.

[mynameisjuan]

3 minutes ago, The Benjamins said:

How is it steeling when it is a add on to the youtube page, the video will still be viewed on youtube but all users to give a few cents for enjoying the video.

Scratch that. I thought the way this was deployed was different ( as in played the video on an ad free site)

[The Benjamins]

1 minute ago, mynameisjuan said:

Scratch that. I thought the way this was deployed was different ( as in played the video on an ad free site)

He is working on a download service, and payment service. and that the payment service can be implemented to any willing site.

[Mooshi]

Adblock or Youtube red. I'd rather use actual currency and not made up digi coins more volatile than a crazy ex.

[Kobathor]

23 minutes ago, Mooshi said:

Adblock or Youtube red. I'd rather use actual currency and not made up digi coins more volatile than a crazy ex.

Anything is actual currency. The US dollar only has value 'cause we say it does, not 'cause it's backed by gold and silver. Same with BTC and LTC and ETH and all.

Cryptocurrency is nice because you can cut it up into tiny tiny pieces and still transfer it for no fees (if you know how.) Can't do that with credit cards and such. How would the credit companies take 3% of 2c? Not feasible.

[potoooooooo]

Is he using bitcoin or bitcoin cash?

 

Because if he's trying to get people to do small payment with BTC they'll get murdered by fees rn, you really want to use BCH for small things.

[The Benjamins]

1 hour ago, potoooooooo said:

Is he using bitcoin or bitcoin cash?

 

Because if he's trying to get people to do small payment with BTC they'll get murdered by fees rn, you really want to use BCH for small things.

Afaik he is using bitcache, which is it's own thing. It might run on top of btc, a off chain coin.