DIY Tube Coin is a POW mineable coin using GPUs as well as with POS masternodes and, later, POS wallet holders.
GPU POW miners will receive 30% of the block rewards in the first year, which is about 300,000 DIYT Coins/month, or about
$30,000. This reward will later increase with time. The initial limit is set so that POW miners cannot mine too many DIYT Coins when the difficulty is easier at the start.
POS Masternode holders will receive 70% of each block reward, about 700,000 DIYT Coins per month at
$70,000 in value.With an initial price of DIYT Coins set at $0.10 US, masternodes will receive the following rewards:
*
10 Masternode holders, each Masternode receives 70,000 DIYT worth
$7,000 per month.
*
100 Masternode holders, each Masternode receives 7,000 DIYT worth
$700 per month.
*
1,000 Masternode holders, each Masternode receives 700 DIYT worth
$70 per month.
With a value of $1.00 US per DIYT Coin, masternodes will receive the following rewards:
*
10 Masternode holders, each Masternode receives 70,000 DIYT worth
$70,000 per month.
*
100 Masternode holders, each Masternode receives 7,000 DIYT worth
$7000 per month.
*
1,000 Masternode holders, each Masternode receives 700 DIYT worth
$700 per month.
Of course, DIYT Coins will fluctuate with the economy so the numbers above can vary with time.
It is doubtful that DIYT Coins can decrease in value below their original set price because of the utility inside the DIY Tube Video Community and the prices set for products purchased using DIYT Coins. The cost in the number of DIYT Coins for purchases inside DIY Tube will reduce as the value of DIYT Coins increases. The opposite is also true down to a mininum of $0.10 per DIYT, which is the baseline value set inside DIY Tube Video Community.
What Is DIY Tube Coin
DIY Tube Coin is a form of cryptocurrency which is paid to people for interacting
on DIY Tube Video Community site.
Video creators are paid DIY Tube Coins (DIYT) for minutes played and interaction with their videos. Commentors are paid based on the popularity of their comments. Everyone earns DIY Tube Coins in the DIY Tube Video Community. Payments are made every 24 hours. Make a comment today and see your earnings grow tomorrow.
DIY Tube Coins (DIYT) can be used inside the DIY Tube Video Community for perks and upgrades on the site. Coins can be used to promote your video or channel onto the homepage. DIYT can be traded or given to other members as a tip or as a thank you for a shout out video. Soon it will be possible to trade DIYT Coins for merchandise inside the DIY Tube Video Community. Also planned is the ability to purchase DIYT Coins for use inside the community. This will allow members to either earn their DIYT or, if they prefer not to wait, purchase coins to be used for perks and upgrades inside DIY Tube.
Soon, DIY Tube Coins will be able to be traded out of the DIY Tube Video Community onto our own DIY Tube blockchain. Once the blockchain is completed members will be able to buy/sell/trade DIYT Coins on coin exchanges.
Why Is DIY Tube Coin Needed
DIY Tube Coin is necessary in order to allow for a borderless payments system to content creators around the World, without the need for the expense of bank transfer fees, bank exchange fees and the accounting nightmare associated with paying members in fiat currency.
Originally DIY Tube Video Community was going to use a revenue sharing plan like YouTube, with a 50/50 split of all ad revenue generated on the site. But this would require a huge accounting team along with added expenses, which would reduce the amount that we could share with our content creators. There are other reasons as well (see below).
To pay content creators in their various countries, DIY Tube would have to first find a bank which would allow millions of transactions a month. Then DIY Tube would have to pay the millions of direct deposit or wire fees. There would be exchange fees on top of this to trade USD into the home currency of the content creator. Then there would be the accounting nightmare of sending out tax forms at the end of the year in each country's language and official tax forms. All of this would require a huge office complex with hundreds, or even thousands, of employees just to send out payments each month.
DIY Tube Coin removes all of these barriors and allows us to pay members for their activies on DIY Tube Video Community platform with no cost to DIY Tube or the content creators.
DIY Tube Video Origins
DIY Tube Video Community formed back in November 2017 when the Troy, the founder, had a feeling that YouTube was going to take a major negative turn. Payments from YT were slowly diminishing over the past two years already so people felt that something was in the air. Some lawsuits against YT were going on and many content creators were seeking somewhere else to host their work.
Troy owns The Do It Yourself World LLC, plus a website and YT channel with the same name. The Do It Yourself World channel has over 100,000 subscribers even now (May 2018). But with constantly reduced payments for the same work, it was soon not going to be enough to live on. So the idea of DIY Tube Video Community was formed. The original idea was to have ads playing on the videos and share 50% of all ad revenue with content creators. But getting ads requires a lot of traffic and some time behind you. Time was not on our side since YT was making even more major changes in the way they paid people. The accounting would also be a nightmare for a startup company to pay people in different countries around the world.
From these issues the idea of DIY Tube Coin and our own blockchain was born. With our own blockchain and DIYT Coins, there is some more flexibility and the idea came up to reward all members for activity on the site. Since cryptocurrency has no borders, people around the globe can be paid with much less accounting to deal with. The idea of a virtual wallet inside the website further reduces accounting issues. Virtual transactions can occur every day with no costs or fees. Only when the coins are taken out onto blockchain is a taxable transaction taking place (Depending on the tax laws on cryptocurrency in your own local government).
Members are paid in DIYT Coins every 24 hours for activities on the site. Content creators are paid for video views and thumbs up. Members who leave comments are paid for their comments and thumbs up. Now, if you make a comment today, you will be paid tomorrow.
Since the founding of DIY Tube Video Community, the team has grown to include a developer, beta tester and computer tech, blockchain developer and more.
The DIY Tube Community team is constantly improving the site and adding functionality and perks to the community pages. Some plans are for an integrated blog, live streaming, live chat and possibly a newsletter.
So join DIY Tube today and lets grow together.
DIY Tube Blockchain & Coin
The DIY Tube Blockchain And DIYT Coin Will Soon Be Released To The Public.
Coin Name: DIY Tube Coin
Coin Symbol: DIYT
Coin Decimals: 8
Coin Supply: Max 500 Million DIYT
Coin Mining: POW/POS/Masternode
Block Reward: 50 DIYT
Block Time: 2 Minutes
1st Year Rewards: Miners (POW) 30%, Masternodes (POS) 70%
2nd Year Rewards: Miners (POW) 35%, Masternodes (POS) 65%
3rd Year Rewards: Miners (POW) 40%, Masternodes (POS) 60%
4th Year Rewards: Miners (POW) 40%, Masternodes (POS) 60%
After Year 4, POW Mining Ends. We Enter Wallet And Masternode POS Only.
5th Year On Rewards: Holder Wallets 40%, Masternodes 60%
Block Rewards Halve Every Four Years.
Masternodes Require 40,000 DIYT. Wallet Holders Require Min 10,000 DIYT
Estimated Blockchain Launch Date: Oct 10, 2019
No Developers Fees. No Blockchain Fees. No Transaction Fees.
The DIY Tube Team Will Mint 5 Million Coins On The First Block. Immediately After The First Block, The Blockchain Will Be Released To The Public To Allow For Fair Mining. 1 Million DIYT Are Necessary To Pay Existing Members Of The DIY Tube Video Community For Their Earnings Over The Past Two Years. 4 Million DIYT Will Be Used As A Fund Raiser In The Sale Of Masternodes.
There Will Be Only Four Original Masternodes To Ensure A Stable Blockchain In The Beginning. One Each For The Top Three Partners And One For DIY Tube Video Community Rewards Wallet. The Issue Of 40K DIYT Each Is The Only Reward To The Founding Partners. The Rest Of The 4 Million Coins Are To Be Sold Entirely To Masternode Holders To Ensure Fair Distribution Of Rewards.
The Masternode For DIY Tube Will Collect Rewards For Payment To Members In The DIY Tube Video Community For Their Video Views And Activities On The Website. To Ensure Coin Cycle Inside DIY Tube, Coins Can Be Used For The Promotion Of A Channel Or Video. Advertisers Can Use DIYT Coins To Pay For Advertisements. Members Can Tip Other Members. Viewers Can Donate To Their Favorite Channels. There Is A Planned Online Store Which Will Use DIYT Coins As Payment For Merchanside. Other Uses For DIYT Coin Are Planned.
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