BitTube replacing advertisement-based business model
BitTube is making major moves in offering a solid alternative for the classic advertisement business model. Their digital currency TUBE can be earned with consumption and production of content, and the platform is broadening its focus towards more internet users and its own social media platform. On top of that, TUBEs can be directly swapped for dollars and send to your bank account. Making it easier than ever before to make money online.
At the center of all this, is the concept of ‘time is money’. Instead of paying content creator for the ads that are being shown around their content, BitTube pays consumers and creators for content being watced. The more content is been watched, the more content creators are getting paid. On top of that, content consumers are also being rewarded for their activity.
At the moment BitTube has its own video platform, which doesn’t offer the quality content a consumer would want to see. The company’s key asset is BitTube Airtime, a plugin for your web browser that measures user activity online and rewards them for it by paying TUBE. Thankfully there’s more coming.
Staking coming to BitTube
Currently BitTube uses Proof-of-Work mining as the only way to generate TUBE. The TUBE that’s been mined, will be split between the miners, content creators and content consumers. Soon the platform will also introduce staking. Staking allows TUBE owners to literally put their coins in a freezer and earn interest over them. When more people are staking, there are less coins in circulation. When demand stays steady and the volume in circulation goes down, the value of TUBE is likely to go up. That’s another reason why this staking mechanism is interesting for those who want to invest in TUBE.
Earning and spending with TUBE is getting super easy
One of the difficulties crypto companies are facing, is the fact that consumers need to swap their coins a lot. Normally you need to buy bitcoin, go to an exchange, switch it for another coin, earn more of that other coin, switch it back to bitcoin and then have that bitcoin converted to dollars. Thankfully TUBE is making this a lot easier.
BitTube has acquired its own crypto exchange license and its own banking license. People can convert the TUBE they earned from their content consumption or production, directly into euros or dollars and send it to their bank account. In the near future — when the crypto exchange is live — it will also be possible to convert TUBE directly into any other cryptocurrency.
Even when switching TUBE to fiat is too much of an hassle for someone, BitTube is working on setting up its own debit card. This card will be directly tied to a BitTube wallet. That means that card owners can spend their TUBE coins as if they are actual dollars or euros. No need to convert, just swipe the card and pay.
AirTime becoming more allround
The first version of BitTube Airtime allows content creators to earn TUBE when other AirTime users visit their website. Even though AirTime has been downloaded by thousands of people already, that still means that 99% of the traffic to a website is not generating any TUBE. Currently BitTube is working on a module that will allow content owners to monetize their website from all the traffic.
On top of that, the company is rebuilding their BitTube video platform. Instead of making it only about video, their are making a social media platform out of it. Not only would this compete with DTube and Steemit, but above all it would be a serious jab towards established brands like Facebook, Twitter and YouTube.
Previous coverage on BitTube
I’ve been writing about BitTube in the past when they just launched the first version of AirTime. Back then I praised their endeavors, but criticized the content offering on their video platform and the complexity of their tools. The usability of AirTime has most definitely been improved, and I can’t wait to see where BitTube is going.