[ANN][$MUSIC] Musicoin Blockchain Upgrades to V3.0(“Quantitative Tightening 🎸

[ExEric3]

Launched new Musicoin Mining Pool.

http://mc.miners-zone.net

- payments every 2 hours,
- supported mining over getwork and stratum
- detailed stats for miners
- api support for miners

Happy Mining and Good Luck.

Also launched new network status page:

http://mc.miners-zone.net:9091

If you are interested join with your node feel free contact me over PM for password.

Updated gmc + lowered pool fee to 0.1%.
Happy Mining and Good Luck.

[1713586288]

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[1713586288]

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[1713586288]

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[serejandmyself]

Guys, wallet stuck on block 339,619 for the past few days. I added the peers from musicoin github + i can find some anyways. But not moving on further. Any ideas?

anyone?

[MPeon]

Guys, wallet stuck on block 339,619 for the past few days. I added the peers from musicoin github + i can find some anyways. But not moving on further. Any ideas?

anyone?

Try to start over , and clean everything (apart from wallet.dat) in your appdata music folder.

Also come around and mine some music - we are still running on 0% fee!

http://music.spdns.eu/

[tleilaxu_eyes]

Any thoughts on the current price level of Music, guys? How soon to da Moon?

I read somewhere that this coin was designed to create a ton of coins, and looking at the ANN page (no halving, block every 15s?) it seems to be true. No premine is good though, so hard to say. At a few cents per each, it's cheap. But if the supply is flooded, it could go down to less than a cent.

[Krypto-Jack]

i think they are said something about a cap or a control on production of coins , its infinate due to the amount of plays that could be generated over many years , it would be a crazy high number , i read they are changing the 1MC per play model and doing a UBI solution , Universal basic income payed for by mining the coins, they are pegging the artist money on Fiat not on the Musicoin Price or BTC price , from what i understood that is i could be mistaken , i think they have realised that the coin value needs to be much higher and limited , so it wont need an infinate number , they should cap the coin , create value and in 5 years be a trillion $ entity hosting a billion artists with a coin worth £1000 supporting a global planatery music system , its absolutly possible with BlockChain Dapps , and the local access supercomputers for cheap, Brave New World folks !

[ngin-x]

i think they are said something about a cap or a control on production of coins , its infinate due to the amount of plays that could be generated over many years , it would be a crazy high number , i read they are changing the 1MC per play model and doing a UBI solution , Universal basic income payed for by mining the coins, they are pegging the artist money on Fiat not on the Musicoin Price or BTC price , from what i understood that is i could be mistaken , i think they have realised that the coin value needs to be much higher and limited , so it wont need an infinate number , they should cap the coin , create value and in 5 years be a trillion $ entity hosting a billion artists with a coin worth £1000 supporting a global planatery music system , its absolutly possible with BlockChain Dapps , and the local access supercomputers for cheap, Brave New World folks !

UBI sounds good in theory but it's another move that will suppress the price further. Correct me if I am wrong but UBI will ensure artists get paid a portion of the mining rewards so that users can listen to songs for free. Music will be reduced to a mere tipping coin. How do they expect the demand for Music coin to rise if nobody is forced to buy it? It's good for the users but bad for the holders.

[Krypto-Jack]

i think they are said something about a cap or a control on production of coins , its infinate due to the amount of plays that could be generated over many years , it would be a crazy high number , i read they are changing the 1MC per play model and doing a UBI solution , Universal basic income payed for by mining the coins, they are pegging the artist money on Fiat not on the Musicoin Price or BTC price , from what i understood that is i could be mistaken , i think they have realised that the coin value needs to be much higher and limited , so it wont need an infinate number , they should cap the coin , create value and in 5 years be a trillion $ entity hosting a billion artists with a coin worth £1000 supporting a global planatery music system , its absolutly possible with BlockChain Dapps , and the local access supercomputers for cheap, Brave New World folks !

UBI sounds good in theory but it's another move that will suppress the price further. Correct me if I am wrong but UBI will ensure artists get paid a portion of the mining rewards so that users can listen to songs for free. Music will be reduced to a mere tipping coin. How do they expect the demand for Music coin to rise if nobody is forced to buy it? It's good for the users but bad for the holders.

you have a fair argument , lets hope musicoin can ad some clarity to the situation , if other projects are being built off the back of musicoin network wouldnt it be better to have a model that brings value to the coin to make it worth mining , no miners no network !

linking the coin to the 1MC play was a bad idea in the first place , people want to flow though music listening to as much as they can hassle free with out dealing with linked market rates on a coin in both the crypto and Fiat systems , in what is already a hard place to deal with , moving fiat into crypto needs to be alot easier .
as people use and absorb music they know they are paying for it but they know they are getting a good deal for lots of content , it costs alot of money to make music & time , to have to give it away just for exposure is wrong , then to sign a deal and give 65% away to the publisher is a raw deal , ownership of music costs money , all the different rights holders in each country , too many middlemen ! music shouldnt be cheap if people spend years and years of thier lives dedicated to an art form, greedy greedy corperations forced music to be cheap & free, thats why they are a combined Trillion $ Industry and artists are broke.

Musicoin should be capped , it should be the bitcoin of the music industry what they have is an amazing oppertunity ....................will they make the right choices only time will tell

 

[flyin_piggie]

I love the idea of Musicoin, more ways for listeners to discover music and more incentive for artists to create is always good.

Website is bit clunky atm, no way to customize interface, no fast forward, etc., but it's beta so it's fine.
There is already some quality (well produced) music hosted from various genres.
Couldn't find logout either, maybe it'd be good idea to have it, or make it more visible if there is one.
Specially on service that expects people to hold their money in.

Now, standalone wallet is another expirience. Miners, people who keep network alive, need light wallet.
I may be unlucky one, but it took me 2 days to synch. Yes, i added peers. Synch would go on for hour or 2 and then just stopped.
Restarting kept it moving for another hour, sometimes it would just not connect to peers for long minutes, if ever without restarting again.
It was not blocked by firewall, checked that. Another minor annoyance that became major due to all those restarts, is who the h%!$ thought it's good idea to maximize wallet to full screen at start? Are you apple that knows better what users want?
In the end, finally synced and another surprise, chaindata folder is already 16 gigabytes, since February? 900+k blocks?
Not to mention background.log file was another 8 gigabytes for me.

That's why light wallet would be good idea, and if i wanted to have generic photo of most likely not a real band on my full screen i would get it myslef.

You may think there is a lot of negativity here, but i do like the idea, keep at it, expand, add features and make it great place for music lovers.

[Krypto-Jack]

It would be great to see Musicoin added to Exodus , hope the devs can get someone on that !

[bubblepop]

They should do the UBI system but also have a subscription service where you have to hold a certain usd amount of Musicoin in your account to play music.
And those coins get burned at end of each month.
Say it cost $5 worth of Musicoin a month, you have to keep it topped up as each month those $5 worth are burned (decreasing the supply).

Free music would create much larger traffic, just need an idea that will make Musicoin valuable otherwise its worthless to miners and the musicians.

[Krypto-Jack]

They should do the UBI system but also have a subscription service where you have to hold a certain usd amount of Musicoin in your account to play music.
And those coins get burned at end of each month.
Say it cost $5 worth of Musicoin a month, you have to keep it topped up as each month those $5 worth are burned (decreasing the supply).

Free music would create much larger traffic, just need an idea that will make Musicoin valuable otherwise its worthless to miners and the musicians.

i agree its a tricky situation to keep the incentives in place , im sure they have many good people working on things , just wish they reached out more with updates and videos

[Krypto-Jack]

400k Muiscoin?

[yugu]

For me it's strange this coin doesn't have and never had any descent trading volume on exchange.
Development is going on, project is alive, active and kicking, but market cap is funny...

[freinando]

I think the coin value will be driven by the amount playbacks that take place.

i.e
Right now there are about 4 blocks solved per minute, * 314 coins/block that yields 1256 coins distributed every minute.
When UBI forks is activated, musicians will be paid a fixed income of $0.02 per play in $MUSIC. This $MUSIC will be coming from a shared pool, where of all coins mined, 20% go to this pool, the 80% remaining the miners keep it.

Let's work some numbers now.

As a reference, Spotify alone streams about 750K songs per minute. To keep calculations simple in this scenario, let's say there are 1256 songs played per minute in the Musicoin network.
1256 songs played means that there has to be 1256 songs * $0.02 = $25.12 paid to artists in $MUSIC during that minute. We know that this $25.12 is the 20% of some number (since this 20% comes from the UBI pool, and the remaining 80% the miners keep), doing the math this number is $125.6. Now we know that 1256 $MUSIC mined in 1 minute amount to $125.60, which gives a price of $0.10 per $MUSIC.

Scaling up the amount of songs played per minute is proportional to the price. Meaning, if instead of 1256 songs, now we have 12,560 songs played per minute, the price per coin would have to be $1, so that artist continue to receive their UBI of $0.02 per play.

Let's try that:
12,560 * $0.02 = $251.20. This comes from the UBI pool which is 20% of the coins mined so (x = 251.20*100/20) = $1,256.00.

$1256.00 per 1256 coins mined in that minute, so price per coin now is $1.

Did I just write a bunch of nonsense? I.. don't even know, y'all tell me. Meanwhile I'm gonna continue sipppin' this scotch.

[RobRoy]

http://music.coinminer.space

[Krypto-Jack]

I think the coin value will be driven by the amount playbacks that take place.

i.e
Right now there are about 4 blocks solved per minute, * 314 coins/block that yields 1256 coins distributed every minute.
When UBI forks is activated, musicians will be paid a fixed income of $0.02 per play in $MUSIC. This $MUSIC will be coming from a shared pool, where of all coins mined, 20% go to this pool, the 80% remaining the miners keep it.

Let's work some numbers now.

As a reference, Spotify alone streams about 750K songs per minute. To keep calculations simple in this scenario, let's say there are 1256 songs played per minute in the Musicoin network.
1256 songs played means that there has to be 1256 songs * $0.02 = $25.12 paid to artists in $MUSIC during that minute. We know that this $25.12 is the 20% of some number (since this 20% comes from the UBI pool, and the remaining 80% the miners keep), doing the math this number is $125.6. Now we know that 1256 $MUSIC mined in 1 minute amount to $125.60, which gives a price of $0.10 per $MUSIC.

Scaling up the amount of songs played per minute is proportional to the price. Meaning, if instead of 1256 songs, now we have 12,560 songs played per minute, the price per coin would have to be $1, so that artist continue to receive their UBI of $0.02 per play.

Let's try that:
12,560 * $0.02 = $251.20. This comes from the UBI pool which is 20% of the coins mined so (x = 251.20*100/20) = $1,256.00.

$1256.00 per 1256 coins mined in that minute, so price per coin now is $1.

Did I just write a bunch of nonsense? I.. don't even know, y'all tell me. Meanwhile I'm gonna continue sipppin' this scotch.

To be fair your the only one to put numbers like that together for what they are trying todo , i think they are keeping some numbers back i think artists over the first year will see really good income from this platform, i like them numbers but i have no idea if thats how this works with UBI , lets hope your right , if so we mining pure gold

Enjoy that scotch fella

[yugu]

As a reference, Spotify alone streams about 750K songs per minute. To keep calculations simple in this scenario, let's say there are 1256 songs played per minute in the Musicoin network.
1256 songs played means that there has to be 1256 songs * $0.02 = $25.12 paid to artists in $MUSIC during that minute. We know that this $25.12 is the 20% of some number (since this 20% comes from the UBI pool, and the remaining 80% the miners keep), doing the math this number is $125.6. Now we know that 1256 $MUSIC mined in 1 minute amount to $125.60, which gives a price of $0.10 per $MUSIC.

Scaling up the amount of songs played per minute is proportional to the price. Meaning, if instead of 1256 songs, now we have 12,560 songs played per minute, the price per coin would have to be $1, so that artist continue to receive their UBI of $0.02 per play.

Let's try that:
12,560 * $0.02 = $251.20. This comes from the UBI pool which is 20% of the coins mined so (x = 251.20*100/20) = $1,256.00.

$1256.00 per 1256 coins mined in that minute, so price per coin now is $1.

Did I just write a bunch of nonsense? I.. don't even know, y'all tell me. Meanwhile I'm gonna continue sipppin' this scotch.

Really nice calculations. This coin is bind to music replays. The more songs are played the higher the coin's price in $.
Why are you operating with $0.02 per song played? Shouldn't it be higher?

[cryptodv]

I bought some more Music Coins, can the Mac wallet client mine already? I haven't been here in a while, I just see that there is an option to do so.

[MPeon]

http://music.spdns.eu is going to upgrade to the ubi signal build soon , if miners don't agree please let me know otherwise I will proceed.

[Miner Addict]

Mining still running normal, okay
Upgrade necessary