You are viewing a single comment's thread from:

RE: Trying To Understand The Tokenomics Of The New 3Speak Network

in LeoFinance4 years ago

After trying to read a couple of these posts I have absolutely no clue whatsoever what all this is about. All it just reads like bla bla bla to me honestly. It would be nice to get a short version on why exactly there are these tokens and what gives them value in human language without the requirement for any mental effort. 99% of people will just go pass on this right now imo.

Posted Using LeoFinance Beta

Sort:  

LOL
Here is a another try:

  • LARYNX, a digital mining rig mining SPEAK... what gives it value? What gives the physical mining rigs value ... the ability to mine BTC. Meaning LARYNX value will be dependent on the SPEAK token value
  • SPEAK - a governance token that also can provide the other two tokens as well.... what gives a governance token value? The ability to distributed funds (if there is any) from the pool + few other things
  • BROCA - a gas token.... what gives it value? It is need if anyone want to upload (post videos) stuff on the network. The more people want to make uploads the higher the value .... basically the same as ETH GAS

I don't think the tokenomics system is build to attract the masses and it doesn't have to. It is build to create a decentralized foundation for video and image hosting, which by itself is already pretty niche itself. People like us, who are already deeply involved in crypto and social media will be those who provide their storage and bandwidth and in return profit from the tokenomics. Or you simply mine SPEAK with your airdropped LARYNX and do just that and nothing else, while others buy your mined SPEAK gladly off your hands.

Try to explain BitTorrent to the 99% and they will bleed from their ears. But using a BitTorrent client to download a file is already much less complicated and reaches a far greater audience. 3Speak will be similar, except that it will be much easier to use in terms of watching videos, compared to downloading from the torrent network.

Pretty much, and the creators will have their own tokens plus a sink to support them in low network usage periods. Plus nft memes that get issued to top token stakers like dividends get issued to stock holders