What is the Daily Reward system on LBRY?
It seemed like an offer which was too got to be true, as they were giving out a daily random reward of 1 to 100 LBC tokens just for watching at least one video daily on LBRY platform. Initially they were very generous with the reward system and I remember I was getting 9-10 token every day. This meant you could easily make 200-300 LBC tokens every month from LBRY just by watching videos. Yes, many people have the misconception that to earn anything on LBRY you need to create videos but that is not true. You can earn just by watching videos as well.
Looking at current price this 200-300 LBC monthly reward translates to $7 to $10 just month from LBRY even if you don’t upload any videos yourself. This value can go up higher if you hold the tokens and don’t sell them now.
Why have they Reduced the Rewards?
Like all good things in life this did not last too long. As there is a max supply limit on the token circulation and more and more people are joining the platform they have reduced this rate. Last week they basically halved the rewards. The earlier random reward of 1-100 LBC was reduced to 0.5-50 LBC daily. To make matters worse the random reward has been consistently 0.5 each day for the last 5 days for me.
Another factor for pressure on LBC supply is many popular Youtubers are now moving over to LBRY. This is largely due to rising censorship and control in Youtube.
Does it still make sense to join LBRY?
A big Yes! LBRY is still very new compared to Youtube so it is normal to expect some glitches like slower buffering & streaming and some bugs with the code for embedding videos in your posts but I am sure they will fix these soon.
If you have still not joined LBRY you should definitely give it a try, as the earlier you join the easier it will be for you to gain recognition and visibility on the platform.
Feel free to use my referral link for joining - https://lbry.tv/$/invite/@Crypto_Sense:1
STAY SAFE! From Coronavirus and from Crypto Whales!
Cheers,
SamBTC
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