The video sharing rewards system backed by a growing community.
Members of DIY Tube Video are paid in DIY Tube Coins (DIYT). DIYT Coins are like a token at a car wash or a fair. You can use them inside our site for perks and upgrades or you can cash them out and use them to pay your bills.
There are many advantages when using cryptocurrency over fiat currency when paying people around the World. For more info, please continue reading.
Join DIY Tube Video and start earning today: DIY Tube Video
DIY Tube Coin was pegged at $0.10 US in value upon release to the public. This is to ensure that content creators on DIY Tube receive enough of a reward to pay their bills. The values were based on YouTube's original 50/50 revenue sharing plan, which is long in the past. This will make DIY Tube one of the highest paying video sharing sites in the World, if not the number one.
DIY Tube Coin is a GPU POW and Masternode POS mineable coin which will open up to POS wallet holders after 4 years.
NOTE: Due to ASICS taking all the rewards, we reduced POW rewards to 0.5 DIYT per block. This effectively removes ASICs from the equation yet provides enough of a reward for miners to continue mining DIY Tube Coins. This may be increased at a later date.
POS Masternode holders receive 49.5 DIYT each block, about 1,000,000 DIYT Coins per month at $100,000 in value.
POW wallet holders receive 0.5 DIYT each block.
With an initial price of DIYT Coins set at $0.10 US, masternodes receive the following rewards:
- If there are 10 Masternode holders, each Masternode receives 100,000 DIYT worth $10,000 per month.
- If there are 100 Masternode holders, each Masternode receives 10,000 DIYT worth $1,000 per month.
- If there are 1,000 Masternode holders, each Masternode receives 1,000 DIYT worth $100 per month.
If the value were to hit $1.00 US per DIYT Coin, masternodes would receive the following rewards:
- If there are 10 Masternode holders, each Masternode receives 100,000 DIYT worth $100,000 per month.
- If there are 100 Masternode holders, each Masternode receives 10,000 DIYT worth $10,000 per month.
- If there are 1,000 Masternode holders, each Masternode receives 1,000 DIYT worth $1,000 per month.
* Of course, DIYT Coins will fluctuate with the economy so the numbers above can vary with time.
* The numbers above are examples only and no guaranty of any price or rewards.
It is doubtful that DIYT Coins can decrease in value below their original set price for very long 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.
DIY Tube will invest 50% of our ad revenue into purchasing DIYT Coins from the open market to use in paying members of the DIY Tube Video Community for video views and writing comments. This is necessary in order to preserve the cycle of coins and also because DIYT Coins are distributed fairly to miners and not the DIY Tube team.
Once video ads are running inside DIY Tube Video, the value of DIYT Coins will increase as we buy up the coins on the market for use inside our site.
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.
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 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 Coin is not a security. DIY Tube Coin is a utility coin which is intended to be used inside the DIY Tube Video Community websites. Functions for which DIYT Coins can be used are the following:
* Promoting your video or channel onto the homepage to gain views and subscribers
* The sale of advertising space
* Sending a tip to other members
* Supporting your favorite content creator
* Paying for a shout our or video
Soon there will be other uses for DIY Tube Coins inside the DIY Tube Video Community websites. Some of the plans are for a store where members can spend their DIYT Coins for merchandise; and a donation based platform for viewers to support and donate DIYT Coins to their favorite content creators.
Masternode holders are rewarded for their support of the DIY Tube blockchain. Holding a masternode is not an investment or a security. A member simply saves up enough DIY Tube Coins to enable them to run a masternode. This is also known as Proof of Stake (POS). For their support of the DIY Tube blockchain, masternode holders are rewarded with a portion of each block reward.
The DIY Tube blockchain and cryptocurency, DIYT Coin, are decentralized and owned by no single person or company. Therefore anyone staking enough coins for POS mining is not purchasing into a company, nor are they receiving ownership or stake in a company.
The purchase of DIYT Coins is not necessary in order to mine through POS wallets or masternodes. Members can earn DIYT Coins inside the DIY Tube Video Community and hold them in their wallets in exchange for part of the block rewards.
The DIY Tube Video Community LLC is a private company owned by the individual founding partners and is separate from the blockchain.
Timeline of events and future plans for DIY Tube Video Community.
|Form DIY Tube Video Site||3rd quarter 2017||Went live November 2017||www.diytube.video|
|Get cloud storage||1st quarter 2018||In the cloud Mar 2018||...|
|Internal rewards system||2nd quarter 2018||May 2018||----|
|Finish DIY Tube Development||2nd quarter 2019||May 2019||----|
|DIYT Coin and Blockchain||4th quarter 2019||Oct 19 2019||DIY Tube Blockchain|
|Get DIYT Coin on Exchanges||4th quarter 2019||October 2019||BUY DIY Tube Coins|
|Set up live chat pages||Late 2019||in development||----|
|Set up live streaming||Late 2019||in testing phase||----|
|Set up blog platform||Early 2020||----||----|
|Distributed Computing On Blockchain||Mid 2020||----||----|
|Distributed Storage On Blockchain||Mid 2020||----||----|
We are planning to have live chat, blogging platform, newsletters and live video streaming integrated with the DIY Tube Video Community website to make DIY Tube your all-in-one social media platform.
Early in 2020 we are planning to expand the community to include live chat and discussions. Live chat is currently being tested at the time of this update.
In early 2020 testing on live video streaming will be completed and open to the public.
In the late 1st quarter to early 2nd quarter 2020 we plan to set up a blogging platform so members can promote their video channel directly from DIY Tube.
Eventually we plan to move our entire database and video storage onto the blockchain.
Some of our major accomplishments along the way since we started the project in November 2017.
The DIY Tube Blockchain and DIYT Coin Are Live.
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
Years 1-4 Rewards: (POW) Miners 0.5 DIYT, Masternodes (POS) 49.5 DIYT per block
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
Blockchain launch date: Oct 19, 2019
No developers fees. No blockchain fees. No transaction fees.
The DIY Tube team minted 5 million coins on the first block. Immediately after the first block, the blockchain was 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 are to be used as a fund raiser in the sale of masternodes.
There were 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 collects 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.
50% of ad revenue on DIY Tube Video will be invested into purchasing DIYT Coins from the market to pay members for their video views and comments. This is needed in order to provide a cycle of life for DIYT Coins and to ensure the DIYT website has enough coins for payments since block rewards are fairly distributed to miners and not the DIY Tube team.
This will ensure DIYT Coin growth and stability for the long term.
Meet the main members of the DIY Tube Team. Other members include silent partners, investors and advisors.
Troy has worked with computers and electronics since High School. He has been a PHP programmer and SEO expert since 2007. Full time YouTuber since 2013.
Started DIY Tube in 2017.
YouTube: The Do It Yourself World
Chris is our computer expert and beta testor. He has been working on computers for 15 years. Chris is also a YouTuber who wants to see improvements in the video sharing community.
YouTube: Dropped Low
Philip works on servers and computers. He is also a cryptocurrency miner and fellow YouTuber. Philip has been a part of DIY Tube from the idea stages.
Helped get DIY Tube off the ground and has been a partner from the start.
Originally DIY Tube Video Community was run under The Do It Yourself World LLC but later we founded DIY Tube Video Community LLC
You can find The Do It Yourself World LLC filings here: The Do It Yourself World LLC
You can find DIY Tube Video Community LLC filings here: DIY Tube Video Community LLC
Still have questions? Want to learn more about DIY Tube Coin or DIY Tube Video community?.
Send messages to firstname.lastname@example.org