This solution is what the content creators want too: the problem is how to pay for it. Micropayments are the obvious choice, but they're currently impractical for a number of reasons (Bitcoin is promising but has yet to clear adoption hurdles necessary to hit the mainstream). I don't know that this will ever come to pass though. Micropayment tech is just too far off, and workable online distribution models are already in development.
Obviously, the cable/satellite/telco video companies of the world don't want to get disintermediated here; so most of them have been building IP video platforms for the last few years. It will still likely require a cable video subscription (though maybe with a slight discount as you won't need to rent a cable box.)
A distributed network is not well suited to micropayments. With every user it exponentially increases the resources used. Bitcoin can handle about 7 transactions a second maximum. Much less currently.
Yeah; there are technical limitations with Bitcoin that are well-known. I was referring more to virtual currencies in general; Bitcoin is unlikely to be the final evolution of virtual currency. My comment was more about how Bitcoin raises the promise, but I do know it's unlikely to be able to fulfill it.
Obviously, the cable/satellite/telco video companies of the world don't want to get disintermediated here; so most of them have been building IP video platforms for the last few years. It will still likely require a cable video subscription (though maybe with a slight discount as you won't need to rent a cable box.)