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What if we started uploading YT videos to PeerTube?
(slrpnk.net)
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I don't think most big YouTubers care much about YouTube ad revenue these days, they make so much more money from audience manipulation (e.g. sponsor spots) so the current peertube system would be fine.
I honestly think the biggest current issues are that it costs a lot of money to host peertube because of the high resource requirements (storage costs are compounding as well) and that the network effect means that very few people will use it