1. What is Value for Value?
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The term describes an innovative approach to creator compensation made possible by initiatives like Podcasting 2.0 and the Bitcoin Lightning Network. The fundamental concept, however, is not new. For example, when a hat is passed around following a public music performance, the audience chips in what they feel is a fair value for the performance, and the artist receives the payment directly, without a middleman taking a cut.
The online Value for Value model works in a similar way because audiences can, with the click of a button, offer what they feel is a fair value for any given performance. Payments are sent instantaneously from the audience to the creator via a global payment network, the Bitcoin Lightning Network.