WatchMyBit - Hibernation

Hello WatchMyBit Content Creators,

Great news! we are temporarily pulling WMB offline while we revamp our technology and wait for the Bitcoin scaling debate to resolve.

In two years we have gained a lot of word of mouth traction and Bitcoin has continued to catch on.  However we see the need to promote both Bitcoin, micropayments and WMB much more than we have.  To do this, we will need to raise some capital to properly advertise, market and promote WatchMyBit and Bitcoin.  We have been accepted by Wefunder and are working on a campaign that will allow anyone to invest not just in their favorite content creators, but also WatchMyBit directly!

Like many of you we are waiting for the resolution of  the current scaling debate and expensive  miner fees.   Whatever the solution is, we will be ready to efficiently scale our system to work with any new technology.

But right now, a 9 cent video on WatchMyBit will cost the viewer anywhere between 22 cents and 35 cents  -- kind of blows our inexpensive micropayment concept out of the water with over 100% of fees for each view. Our goal is to keep fees and costs to a minimum for both the creators and consumers.

When we emerge from hibernation, we will have a new website design and new features that many of you have asked for such as embed code, categories and more.  Also we will ‘breaking out’ our Bitcoin paywall, allowing anyone to use it independently of WatchMyBit.  You can use our servers to store streaming video, or your own!  This flexible and lower cost solution means you will be able to put more than just video behind the paywall: download links, images, secret URLs, games or anything really.

We see reactivation in the future after 3 conditions are met.

  1. When the BTC scaling debate is over and mining fees return to under 2 or 3 cents, or when/if SegWit is implemented and off-chain scaling channels like the Lightning Network is working.
  2. When Bitcoin becomes more widely used and/or appreciated as the amazing technology it is.
  3. When an investor loves the idea of WMB and wants to fund it so we can adequately promote and advertise.

I see the chances of these things happening as fairly likely, especially with the price of one bitcoin in four digits compared to USD, blockchain hype continuing, and new investors becoming interested in the space.

We will be maintaining a sample site where we can show investors our innovative platform.  Keep our name out there if you know any!

We are very proud of WatchMyBit and the first-ever features we introduced on a consumer facing Bitcoin site:  Instant worldwide micropayments for videos, daily payout to artists at levels much higher than ad-driven sites, unlimited splitting of revenue with everyone on your creative team.

I want to especially thank our CTO Oliver Goretzki who developed the entire back end of the site from scratch including channels, comments, the paywall, the rating system and every other detail; and also David Duccini who made our Bitcoin payment 'split engine' seamless, reliable and perfect. will be a placeholder and soon we will create a 'sample site'.

Let me know if you have any questions, or know of any investors who want to help us better reward video artists, free their fans from advertising, and increase Bitcoin use.

Thanks you for efforts and time and we will see you in the  future!