LBRY Credits #LBC - The Decenralized

Introduction of LBRY Credits

In a nutshell, LBRY Credits (LBC) is a decentralized rich media platform that for anyone to publish their creative works in form of videos, music, ebooks, and more. They can consider as the cryptocurrency or blockchain version of Youtube, iTune or Spotify.

the power of video content

Lbry is a content sharing platform where users can define the terms and fees on which they wish to share their content, using Blockchain technology and Bittorrent protocol. LBC is a proof of work currency and can be mined using a GPU.


The Potential

Video Sharing Content

Video content is the huge now and would continue to become the main trend going forward. LBRY Credits set to capitalize this video wave.

The market cap Steem vs LBC, data:coinmarketcap

The video sharing content platform presents a great value. LBRY Credits has a market cap of $31 million. In comparison, Steemit (which also offer similar content sharing platform) has a market cap of $283 million (about 10X of LBC). Meanwhile, Youtube is valued at $25 billion and earning millions of dollars worth of daily ads revenue. Therefore, LBC has plenty of uptick potential in the near future as the platform grows.

youtube stats

 

The Devs and Community

LBRY Credits reddit screenshot

From the twitter, reddit and the in-house platform, the dev team and the community are very engaging and active. The dev also very responsive to questions posted on their official apps as well holding constant AMA (ask Me Anything) sessions. These are positive signs and thriving project. Read the LBRY team official roadmap.

 

LBRY Credits (LBC) Price and Markets

LBRY Credits (LBC) is currently available on BitTrex, Poloniex and Cryptopia. The main trading pairs are LBC/BTC, LBC/DOGE and BTC/LTC.  BitTrex and Polononiex dominate about 99% of the total LBC trades. Meanwhile, LBC/BTC is the most common trading option.

The Daily LBC/BTC Chart from 2016,. The LBC is currently floating around 12-months low. Another explicit sign is the trading volume. The daily volume has seen tremendous growth from May-June crypto bull run. The on-going dips prompted good opportunity to buy.

LBC dropped below 100-day Simple Moving Average since August 05 and moving towards level last transacted at June 02. LBC slacked around 0.00009635 BTC (-11%) for the last 24-hours) at the time of writing.  The trend is in sync with the overall altcoins struggle to keep up with Bitcoin jumbo bullish run.

MACD and Stochastic floating around the oversold block. The candlestick and technical indicators are pointing to a possible weaker to slideway. Yet, there are signs of technical rebound and emergence of buying interest with the volume is increasing the volume not seen since May and June. The resistance bounces off triple bottom around 0.00010000 BTC  indicating the price resilient and keeping any reversal in sight.


Trading idea: Accumulate more LBC as the cryptocurrency market could reverse.

 

How To Buy LBRY Credits (LBC)

LBC token is minable coin. Check out this page to find out more detail and download the mining client.

Another quick way obtains LBC is through Bitcoin. Not direct buy option is available now. If you are still native on digital currency, do take simple steps below to get your Bitcoin. Then, deposit into exchanges which offer LBC. You could transfer your LBC coins to your personal wallet after that.

Step 1

Buy your Bitcoin at these exchanges,

i) Changelly – buy with bank transfer and credit cards. (read here for Changelly guide). There also options to buy altcoins including Ethereum.
ii) Virwox – buy with bank transfer, Paypal, Skrill and credit cards.
iii) Paybis – buy with bank transfer, Paypal, Skrill, credit cards and many more payment options
iv) LocalBitcoins – buy with bank transfer and other payment options

Step 2

Deposits your Bitcoinsinto these exchanges which offer LBC options,

i) Bittrex – Bittrex is now fast becoming one of the biggest cryptocurrency exchange.
ii) Plononiex – one of the biggest Bitcoin exchange, but had been sluggish and face with a lot of criticisms lately.
iii) Cryptopia – Another popular cryptocurrency exchange which offers a quick way to buy LBC.

Step 3 : LBRy Credits (LBC) Wallets
Transfer your BAT to wallet. Download and setup your digital wallet here. Currently, they support various operating systems.

 

reference,
https://bitcointalk.org/index.php?topic=1541268.0
https://coinmarketcap.com/currencies/library-credit/historical-data/
https://www.coinhills.com/market/lbc/
https://www.cryptocompare.com/coins/lbc/



Please do your own due diligence before making any investment decision. This article should not serve as investment advice. This post is mainly as reference and tutorial for trading on possible cryptocurrency breakout.