Steemit/youtube is misleading. This project has nothing to do with steemit, they want to create their own coins and from what I have read it's not really decentralized. I think @furion is working on a steem version of youtube.
https://steemit.com/steemq/@furion/suggest-a-name-1-000-steem-contest
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The guy is using the Steemit model and trying to improve upon it. I have communicated with him and Steemit is very important in all this. Give his idea chance. Even if it fails it will bring attention to Steemit and Bitcoin. I hope he chimes in here...
His model is based on views with a viewcoin. ( centrally distributed currency ) Steem is based on decentralized stake weight voting. 2 completely different models.
More info here: https://github.com/DaGitNah/BitTube
@bitcoinmeister appreciate the update as always. thankful you are keeping us in the loop with new projects. Thank you.
Where are you getting this information from? Who is they? Did you look at the git repo? Where does it say anything about a new alt coin?
Never mind, we have an answer:
I twitted @bitcoinmeister about this project last month but there was no news/updates about it for 6 months that time so we thought that the project was cancelled. But maybe because of the youtube drama, @furion decided to continue the project. @furion developed two steem related site already so i guess he can make this project happen
Thanks for the info btw