Bitcoin & Cryptocurrency Fans Switch To Decentralized Alternatives After YouTube Bans YouTube, the popular video-sharing platform has been making
Bitcoin & Cryptocurrency Fans Switch To Decentralized Alternatives After YouTube Bans
YouTube, the popular video-sharing platform has been making it hard for cryptocurrency channels for quite some time now. There have been multiple reports of them deleting channels and removing Bitcoin and cryptocurrency content over the years. According to many, this is a blatant abuse of power which will have far-reaching consequences. YouTube cites company policy while taking the aforementioned actions.
However, users believe that it is nothing but biased censorship. Along with the obvious scam videos that can actually harm users. For example, promotion of pump and dump scams taking place on different cryptocurrency exchanges. However, a lot of good content on Bitcoin falls victim too.
This has created quite a negative sentiment on YouTube. As a result, fans of Bitcoin & cryptocurrency have started looking for alternatives. Both from content creation and content consumption point of view. While the alternatives are plenty, they are still in their infancy and will require some time to reach a viable scale.
Decentralized Alternatives Abound
YouTube is a centralized platform. This means that a single company controls everything that happens on their platform. So, they can change their company policy on a whim affecting millions of creators and users. To skirt all of this, the decentralized community has come up with a number of options. Since they all have cryptocurrencies at their heart, it makes for a really interesting situation.
Content creators can now be totally immune to censorship. But they can also earn directly in crypto and in direct proportion to how popular they are. Since Bitcoin and cryptocurrency allows micro payments, content creators can also get tips from their fans. One other interesting point is that even the users can earn crypto just for watching the videos. The amounts are small but are obviously better than nothing that they get from YouTube.
Also read: How To Profit From Bitcoin
Currently, the most popular decentralized alternatives to YouTube are Dtube, LBRY, Bitchute and BitTube. There are also a handful of decentralized social media platforms that can be used to publish videos. Crypto fans argue that such alternatives are more meaningful for content creators. That’s because the fanbase is far more engaged in their work than on centralized platforms. They provide the benefits of tightly knit communities.
There is another great benefit of such platforms. The earnings of creators are in crypto and are directly given to them through blockchain. These cannot be withheld or suspended as centralized platforms usually do. This provides a great deal of security and peace.
Following Crypto’s Ethos
Ever since bitcoin was launched, there has been a sort of people’s movement taking shape. Fans of decentralization have been calling for a switch away from centralized platforms. They believe that it has been too long that they have taken undue advantages of the people. Creating new platforms takes time but if the community is able to do so, it will be in the spirit of cryptocurrencies.
After all, the very ethos supports a system that is made by the people and for the people. The time for decentralized platforms is now.