DLive now has higher fees than Twitch! - Lino blockchain shutting down
I stumbled upon this while browsing Twitter today. This is an update from the DLive team from April 13. (Note that DLive is owned by Justin Sun)
Lino Blockchain shutting down
https://community.dlive.tv/2020/04/13/dlive-blockchain-migration-support-btt-staking/
the Lino blockchain will have all validators powered off and the Lino blockchain will be shut down. LINO coins will no longer have any utility nor will any transactions occur on the blockchain.
So here we see what happens when Justin Sun acquires your project. JS bought DLive some months ago and now the blockchain powering DLive is shut down! Apparently DLive is moving to BTT now, which I don't understand. I always thought that Lino is like Steem and BTT is like SIA. Am I wrong and are they similar?
Anyway. If you like to be forced to use another blockchain controlled by JS this might not be a problem for you and for many end users it probably wouldn't make any difference on what chain their favourite streamer is doing his streams.
Btw there is a token swap from Lino to BTT and they make it as hard as possible to access your BTT:
For US:
Upload a government ID and be at least 16 years of age
For others:
You must create an account on Poloniex.com to receive BTT
Your Lino account will require you to follow certain instructions and agree to a set of terms and conditions
DLive has higher fees than Twitch
What I think is hilarious and somehow even surreal is the new fee system calculated by twitter account MemesDidIt.
https://twitter.com/MemesDidIt/status/1250118582845014017
- MemesDidIt
First of all, depending on how many lemons (the currency used for donations) you buy, you get different tax rates. (Yes there are taxes on buying lemons).
The first image is by MemesDidIt:
The second one is by EncrypticTV, who did the calculation for higher amounts, to disprove MemesDidIt's point. Imo he just confirmed his point, but who am I to say that? ;)
So let's take a look at those screenshots. First of all, wtf are those 'initial/local taxes'? I seriously don't know what they are, why should there be taxes? I assume those go directly to DLive/Justin Sun. (Or to Twitch on the other side)
Okay, then apparently you have a fee when donating on DLive. It is being raised to 25% (!) from ~10% with this update. (Note that they are calling them 'blockchain staking rewards' lmao).
Those 25% go to people who stake BTT, as noted by EncrypticTV. Do you really think the average user holds BTT and has it staked, who are you kidding? Also BTT was created by Justin Sun and the TRON Foundation, so who do you think holds a shitton of BTT:)?
Those are only the top 5 wallets, who knows how many more JS-controlled BTT are hidden in smaller wallets.
So in conclusion what can we say?
When buying less than 100$ worth of lemons you pay more fees on DLive than on Twitch!
And even if you buy 100$ worth of lemons the fees are similar. That wouldn't be a problem in itself (well it is, but let's pretend it's not), but you have to keep in mind that one of those platforms works on blockchain, a technology that aims to cut out third parties and fess and the other one is a private company focused on profits.