LBRY is a project that claims revolution in content delivery. It even has its own streem here. Let me throw some quick facts.
- Current valuation of LBRY according to explorer.lbry.io and Bittrex is about 400k bitcoins or $250M
400 051 000 LBRY credits x 0.001 BTC - This valuation is about 30 Steems or 1/4 Ethereum or 5 Dashes or 12 Moneros or 25 Bitshares or 5 Storj or 7 SafeNetworks or 25 Sias.
- There is no paper that clearly explains technology and economic behind. Only slides in a blog. Our experience show that if whitepaper don't exist chances that a project will be successful are near zero. Dogecoin and Litecion are the only exceptions but to be honest we dont feel that those are examples of success. We don't know any revolutionary project without clear explanation.
- Distribution is funny. 5 accounts control over 99.99% of tokens.
- 75% of tokens are claimed to be for charity and adoption. Stellar and Neucoin prove that unprovable giveaway type of distribution could not bring sustainable growth. 100% corruption will be there at your expense.
- 25% of tokens are developers claim. Not bad. Their right.
- According to slides and Github this is a fork of Bitcoin Core. The only development is a simple client that get info from a blockchain using SPV about locations in DHT and is able to relay this information to other nodes.
- The whole technology is a name registry on top of Bitcoin Core. Plenty of Ethereum contracts can do the same. Namecoin, Emercoin, NXT, BitShares but without name auctions. Even Steem can do this. Steem can do this in MUCH more effective way. Even Bitcoin already have what they did.
This guys are selling an unfinished piece of software for $250 million without even explaining how peer-to-peer network will be motivated to persist data that it stores in DHT. I want to remember that we already have IPFS! It don't need tokens.
Hope that helps you pass through this "unique offering" and save your money. My recommendation is to look and follow this project as a technology but stay away of this project as an investment.