Bitcoin Forum

An interesting project, good luck. I've never heard of Fibo as an altcoin before. Is that a new altcoin as well or ?

Fibo is not cryptocurrency. We do have Fibo Dollars, 1:1 ratio to USD, that can be used inside the platform for streaming Music & Films, and paying for using the distributed cloud storage/processing power in the future.
Being part of Fibo means that you can mine Fibo Dollars (ƒ) by hosting content and get payout on your investment.

Looking to raise 1m is a tall order. I think you should have tried to raise 100k and then build it out or find more funding once you have started to build it out.

We've rephrased it. Our goal is to achieve 1M in valuation. The platform is already developed with our current funding and a Fibo Music demo can be found after signup.

The next step involves the release of copyrighted songs and we're already talking with a few labels. The BTC crowdsale will serve as proof of interest and chance for a win-win to early users.

I guess there a few things that aren't clear in the crowdsale and your campaign, but that shouldn't discourage you. The fibo dollars is going to be a bit of a hard swallow with the audience here.  Here's a couple of suggestions, and no offense on the feedback, just my own perspective on your campaign.

-You need a video, relate to the experience and share your passion for this project.  If your angle is anti-apple, you need to let that come through.
-Your nomenclature (fibo dollars, miners, etc) is very confusing, people aren't going to get it, especially the bitcoin crowd.
-No one wants to know their bitcoins are going to used for lawyers or developer salaries, you might want to rollup those to "development".
-Your reward of a bonus is good, but since Fibo is a non-crypto currency, you might have trouble getting conversion at large levels. (btc is now above $600)

Good luck, hope it works out.

Interesting idea ... the question becomes which comes first: the 'customer' or the 'artist/label' ? In the case of iTunes, Apple had a captive customer base, and the size/credibility to bring the labels on board. Fibo has neither at this point, and I'm not sure a crowdsale gets you there. I'd love for this to work (and to short AAPL along the way) ... hmmm. If I see some momentum I could see myself jumping aboard ...

Also, in your shoes I would take some notes from Augur's crowdsale, and consider selling 'Fibo' coins that grant the right to mine and generate revenue. The crypto community likes to have their interest 'monetized' in the form of some type of fungible coin or token.

In this case i would lean in the direction of the artists come first.

We've talked with artists complaining they are not happy with subscription services, as they do not control the pricing etc.. Fibo is filling up the demand for a Pay-per-stream service where the artists can set their own price.

On top of that we allow the media content to be hosted in a distributed cloud storage and the users sharing/serving a content would get passive revenue for that, and in a certain way, users and fans would be happy to share their favorite songs/films.

Fibo's vision is not to create "one more" cryptocurrency, we achieve to be "the one" content marketplace, where users actually Mines something meaningful and not just proof of work waste.

There's a real opportunity of profit for any user without any initial investment, but those joining the Crowdsale before the public release will have the chance of being a Pioneer Miner, i.e. host, of certain media content permanently. Therefore, generating consistent revenue every time the user is online.

Obviously some content is more valuable that others. Likely, if you are successful, your most valuable content will come on board long after many other lesser artists have. So, do you have some algorithm for who gets what content, and when? Will the crowdsale participants always have first choice re: what content to host?

Finally, I'll torrent something from time to time, but I don't host things. So there would be a necessity of keeping my PC or server on, in order to monetize my cached content?

Yes, Crowdsale participants will have the first choice of which content to host. That's a huge benefit that can provide way more profit than anything in the blockchain technology.

Other users are chosen to host content in a random way, giving priority to the content already streamed by you.

And unfortunately yes, you've to keep your hosting device online for serving content.

WTF?? is no one interested in this project. No posters on the thread is not a good sign.  :(
And I want to see this happen!

Thank you! We will make this happen anyway.

We will enable the deposit for Pioneer Tickets by using credit/debit cards.
First we prioritized Bitcoin deposits, but soon anyone will have the same opportunity.

Awesome because I cant wait to see this project come alive. Do you plan on building a detailed roadmap so people who come to the thread can see where this is headed in a tldr sort of way..

Nice concept it's Interesting, so basically it's like torrent which you can earn bitcoin by to be a uploader? The reward is based on mining share? Sorry for asking, I'm still confuse about the sharing reward.

Exactly. You earn Dollars by mining/hosting content. Later, those Dollars can be exchanged to BTC or USD.

Any user just need to install the Fibo Client, set the amount of storage space to be shared for Mining, and just wait for receiving files to be mined (Mining Spot).
The Mining Spots are given randomly, but the user can buy a permanent Mining Spot of a song, if you think the song will be streamed many times.

There are a limited amount of 20 permanent Mining Spots per song. Those, guarantee a revenue from any stream of that song, and can also be traded like stock once the song becomes trending/valuable.

I have noticed you have changed the OP, is the 30% bonus still active until 1st August  ???

Yes. We've updated our marketing material in both topic and website.

Keep in mind that the beta starts on 18th July, 2016 and all the users that acquired a ticket (current price is 0.00061108 BTC) will get access.
After 18th July only 10 tickets will be given on daily basis to the TOP 10 users.

Be the first and guarantee the chance to earn a permanent Mining Spot by discovering & uploading new songs.

Interesting project, very good ;D

I'm curious if OP has tried advertising on some of the torrent sites, where people are currently sharing thousands of songs basically for free? Offer those people a chance to make $$ from something that they are currently doing for free, and I would guess you could get some takers.Then again, that might be problematic for artists/labels who have a beef with torrents? Lol ...

Your project looks interesting. Biggest problem for me is that I don't want to leave a PC on and connected to the internet ... I don't want to personally provide that caching service. My preference is to be a passive investor. So it doesn't seem like it makes sense for me to participate. Not to mention it will be an illiquid investment in an extremely high risk venture. Worth watching for now perhaps.

It's part of our strategy to advertise in torrent websites. For now we're negotiating with the labels a way to give to the pirates a redemption by sharing the files through Fibo.

Fibo is creating a transparent channel between the artists and the users, where they have total control on their streaming price.
As a passive investor I would suggest you the acquisition of the Permanent Mining Spots, that are treated as stock shares of a song, which pricing can range between $1 ~ $4K for a 200M streams song. And by owning a Permanent Mining Spot you've the guarantee that whenever your computer is online you will be mining a song without having to wait for the server allocating a temporary Mining Spot from the limited 200 Miners queue.

You can host about 50 songs with 500 MB. Let's say that you own a permanent mining spot of the Global Top 50 songs of Spotify, meaning that you hold a potential of 2M streams daily for each song.