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The trouble with dlive...
Tuesday Apr 23 12:14:25 2019
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Lately, the venerable video-slinging swede from YouTube has been at
it again. He went into a partnership with a blockchain-based
streaming site, and it made some heads asplode. The site is called
dlive, and is offering twitch-like streaming, but it's backed by a
blockchain.
That all sounds really cool, but it didn't take long until people
found faults with the Chinese-backed company-controlled blockchain.
Claims that no money was being generated, and that people couldn't
cash their LINO-coins out. Also, there seemed to be weird legalese in
the terms of service that stated that coins are not allowed to be
traded outside of the platform.
This all sounds nefarious, but actually, it's not unlike Twitch's
bits system. The legalese is (I suspect, but IANAL) just there to
prevent the LINO coins being mined and to stop them being publicly
traded on exchanges like Binance or GDAX. It also makes sense to keep
the coins in their own ecosystem and deem them worthless outside of
it. It's a self-preservation thing. Also, fiat money enters the
system from people that buy LINO, and they can donate it to content
creators directly. The similarities with Twitch bits seems more apt
than anything, other than that it's backed by a blockchain.
Also, many people have show that cashing out just works (usually the
coins you are selling will appear on your paypal account in a few
days).
The all-chinese staff and backing is something that does make me
raise my eyebrow, and their code of conduct is to say the least,
typical. But a scam? No, I really don't think so.
Of course, the best thing to do is just try the system on for size.
If only they had a gopher hole. :)
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