Have a listen!

I hope this clears up the project a bit more.

https://soundcloud.com/bitcoins-and-gravy/bitcoins-and-gravy-episode-38-bitshares-music-foundation


www.peertracks.com
www.bitsharesmusicfoundation.org

Alright everyone. It’s official!

The BitShares Music Foundation launched it’s pre-sale from the Inside Bitcoin conference in Las Vegas.

www.bitsharesmusicfoundation.org and www.peertracks.com

Non-technical paper here: http://bitshares.org/papers/music/btsmusic-peertracks-non-technical-paper.pdf

Let’s start with a TL;DR shall we?!

The BitShares Music blockchain is a Decentralized Autonomous Company (DAC) that runs off of Delegated Proof Of Stake (DPOS) Each unit of this DAC is called a NOTE.

PeerTracks is the first front end website/app that will plug into and read the blockchain.
This site will allow artist to:
create their profile
upload their music
set their own prices
And if they want,
issue out their own Artistcoins

Artistcoins are user issued assets
The artist can sell (or give) them to his fans in order to fund his career. The artistcoin is tied to that artists sales (ON blockchain sales only). Meaning “Snoopcoin” can go up in value when he sells a lot of songs, albums, merch, tickets from PeerTracks (or any other future front end site that decides to plug into the BitShares Music blockchain) etc. The artist can also bring value to his coins by offering different perks or benefits to his coinholders whether it’s through hardcoded token controlled access or from him just tweeting to his fans “Anyone with 200+ Snoopcoins get in the show for free, anyone with over 500 can hang out backstage after the show”

From a user’s perspective
Creates an account
Stream or purchase music you like using BitUSD, a non-volatile crypto-currency (BitAsset). Know your funds are going directly from your wallet to the artist’s wallet. No middle man. PeerTracks does not hold any funds, it’s all done directly on blockchain. Find artists you think have potential and buy their coin
See that coin's value rise or fall depending on:
-sales generated by that artist on the site
-perks offered to that artist’s coinholders

Notice that the user's of this DAC do not have to know what a blockchain is, nor do they EVER see a private or public key.


Now if you do not care for music but you see value in a decentralized music industry and would like to be a part of it, you can get yourself some Notes.
Notes are the unit of this blockchain.
This blockchain makes revenue from fees.
-transaction fees
-the fee when someone registers their username
-the fee when an artist initially creates his artistcoins

Those fee are destroyed (proof of burn) essentially returning that stake to each Note holder.
So if you own 1% of all Notes, after a year of burned fees, you might now own 1.1% of the network’s worth.

Keep in mind that Notes are also votes. You can vote for or against whichever delegate you desire. Contrast this with Bitcoin (try booting a mining pool out of power!)

Notes are also the collateral for the BitUSDs used to purchase music, merch and whatever else the artist will decide to sell from the sites plugged into the Music blockchain. The more BitUSD are in existence, the more collateral is needed (demand for Notes = price rise)

For more information, check out:
www.bitsharesmusicfoundation.org
and
www.peertracks.com

You can also check out the non-technical paper here: http://bitshares.org/papers/music/btsmusic-peertracks-non-technical-paper.pdf

Please feel free to ask any questions!

As an online merchant, it's awesome that customers can pay with visa and it goes directly to my paypal account without the customer even knowing what paypal is.

Is there a service like this for Bitcoin?

I'd like to sell stuff online, have the customer check out with his credit card and receive untraceable BTC.


Does anything like that exist? It would reallllyy suck if my customers had to own bitcoins in order to buy my stuff. That would reduce my clientele to about nil haha.


Thanks.