The internal DIY Tube Coin wallet and the promoted videos list are functioning on the DIY Tube Video Community pages. DIY Tube Coins are a cryptocurrency based on the Ethereum blockchain ERC20 contracts.
There were only 249 million DIYT minted with no option to mine or mint more. This was intended to give DIYT Coin real value. DIYT Coins are meant to be used as a reward for activities on the DIY Tube Video Community.
This is an exciting time for the DIY Tube Video team. The internal DIYT Coin wallet is working and people can now see their wallet on the top menu bar of the website when they are logged in. Their balance of DIYT Coins is also displayed in this box.
Very soon when the automatic payment processor is completed, people will wake up each morning to find more DIYT Coins in their wallet based on the previous day's activities. Members will be paid for video minutes watched, comments, thumbs up and more.
To further ad value to the coins, members will be able to promote their video or channel on the homepage. The first slot goes to the highest bidder each day followed by the next and so on. Members can select to promote their video or channel for an hour, day, week, month or anything in between.
The promoted videos list is currently in beta testing and, once completed, will be opened to everyone. Right now you can go into your videos list and select "promote video" next to a video. But since you do not have any DIYT Coins in your wallet yet, you cannot do much with this function.
Soon that will be changed when daily payments begin. Even at this time all activities are being recorded and will be paid out at the very first payment. Thereafter payments will be made daily. Members can make a comment one day and wake up the next day to find their wallet value has increased.
The wallet on the DIY Tube Video Community site is an internal virtual wallet. This has a number of advantages which will be listed here.
The virtual wallet is a sort of IOU for DIY Tube Coins in the real world. Consider it like a video game where you continue to earn bonus points and are able to buy and sell items to increase your rank in the game. Later you can cash out on these items in the real world.
Inside the DIY Tube Video Community is a main virtual wallet containing all the coins that will be needed inside the site. Outside DIY Tube will be an exact wallet in the real world Ethereum network containing a matching amount of DIY Tube Coins. Consider this like the US Gov backing their Dollars with gold.
Inside DIY Tube Video Community you can promote your videos and purchase other perks. You will be able to give coins to another member as payment for video work or for a shout out. Or you may choose to donate to a channel for a particularly good video. The possibilities are endless here. An entire internal commerce system can be set up with this option.
Advertisers will be able to create their own channel on the DIY Tube network and upload their own ads. They will be able to purchase slots on the promoted videos pages in order to get more exposure for their products.
There is also a large video space where the welcome video for DIY Tube currently rests. This is prime real estate with a limited number of slots available. These slots will be sold at a premium price in DIY Tube Coins. This will bring in real value for DIY Tube Coins and for community members. As advertisers purchase Ether based DIY Tube Coins and exchange them for use inside the DIY Tube Video Community, the value of DIYT Coins will be set at the purchase price paid by the advertisers. This is where real world monetary value will come in for DIY Tube Coins. This value will be shared among the community members in the form of daily payment for their activities.
Again, the DIY Tube Coins inside the DIY Tube Video community are virtual coins representing real world Ether based DIY Tube Coins. There will be a market place where you can trade your virtual DIY Tube Coins for real world DIYT Coins or the other way around. Outside in the real world DIY Tube Coins can be traded for Ethereum or sold for fiat currency.
Very soon the payment processor will be completed and everyone will wake up to their first payment in DIY Tube Coins.
You can read the full article with many more details here: http://www.diytube.info/updates-improvements/diy-tube-coin-wallet-promoted-videos-in-beta-testing/
Join the DIY Tube Video Community and get paid for doing what you enjoy!