LBRY sounds like some kind of combination of cryptocurrency and P2P file sharing. Notably, cryptocurrency has been used as a money payment system by criminals, and P2P file sharing has been used as a content distribution platform for illegal content like child pornography. I know that this may come as a shock to some who are deep into the cryptocurrency rabbit hole, but common sense dictates that combining these two technologies in an irresponsible way can and will get you into trouble with the law.

I don't think that you have clearly answered how LBRY would or even could address this problem. Worse still, you have admitted in writing that "The LBRY protocol is fully decentralized and censorship-resistant ... infringing content may be stored on our servers, by the uploader and by anyone else who may have downloaded it." [1] I understand that you plan to have some kind of censorship, but you cannot realistically monitor all of the data in your network. YouTube has resources to monitor what people are uploading to their content platform, you do not and you will have a hard time proving to the law that you did. Even if could you do this monitoring effectively, your product is designed and advertised to be "censorship-resistant."

Walk me through this ... you find child porn on LBRY and you "censor" it in your "app," but you know that LBRY is censorship-resistant, and you know that the child porn is still out there, you even know which IP addressed might have it. What would you do then? At that point, you should get a lawyer. A lawyer would likely encourage you to contact law enforcement authorities, after taking your money. Either that, or you do nothing until the FBI knocks on your door.

It appears that the FBI might not be the only three-letter agency you could be dealing with. You mentioned that you "banked millions in the cryptocurrency boom" and you provided a link to a page on your website which provides "Quarterly Reports" which imitate the Investor Relations web page of a publicly traded corporation. [2] Your "Q2 2016" report states that, "Depending on fundraising over the next 3 months, we may entertain private placements via structures that align with the long-term interest in LBRY and minimize market impact." [3] The "Q4 2018" report has statements like "118,635 operational credits were used for the LBRY employee LBC purchase program." [4] In other places you refer to your organization as "LBRY Inc." It is conceivable that the SEC could take an interest in this as well, after they hear from their pals at the FBI.

[1] https://tinyurl.com/y5l7kpc7 [2] https://tinyurl.com/y2utrfn3 [3] https://tinyurl.com/y4kuww83 [4] https://tinyurl.com/y4e4dnqd