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Author Topic: [ANN][MUSICOIN]Volareo now processing pre-orders for Musicoin smart speaker🎸  (Read 257987 times)
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August 19, 2017, 08:08:59 AM
 #1681

Musicoin: A music industry where artists thrive and listeners are rewarded

https://cryptoinsider.com/musicoin-music-industry-artists-listeners-rewarded/
by Inbar Preiss | Aug 18, 2017 |


There has been much concern about the death of music industry in recent years. However, its revival is just around the corner. Musicoin allows artists and consumers to exchange music and value on a frictionless platform.

The digitization of music crumbled the old music industry. Peer-to-peer music file-sharing programs, as pioneered by Napster in 1999, eradicated any obligation towards the artist. Music is downloaded without permission or compensation. While this makes many listeners happy, it cannot be sustainable in the long term as musicians are left with little gains from the process.

Record sales, which once were the main measurement of a musician’s success, have dropped by 84% in the last decade. Instead, listeners rely on streaming on apps like YouTube, Spotify, SoundCloud, iTunes and many others. No matter how many Facebook likes, Youtube views, or Spotify followers an artist has, it does not guarantee them a financial success. It is widespread knowledge that these companies pay minimal amounts to the artists through obscure contract systems. The focus is on the listener’s (and advertiser’s) convenience, and the intermediaries keep 80% of the revenue.

The financial injustice to artists’ music goes further in the DJ world. When mixing was popularized in the 1970s, combining different tracks into something new, licensing was kept aloof. Although this gives great creative freedom and space for experimentation, it causes a loss of monetary reward earned by the artists, and perhaps more importantly it minimizes accessibility for fans and the DJs.

Musicoin has been made in order to “support the creation, publication, and consumption of music as a cycle”. According to the founder Isaac Mao, the Musicoin currency (MC or $Music) is created “to solve problems in music industry delicately with a stable global metric.”

Musicoin is a decentralized platform which combines blockchain technology with a peer-to-peer file-sharing network. As a modified fork of Ethereum, they make use of smart contracts to license content onto the blockchain database. The collection of royalty payment is thus done automatically and remains under the artist’s control.

Today, for every time a track is played the artist received 1 MC from the listener’s account, a license called Pay-per-Play (PPP). The payment is then distributed to other beneficiaries, like the different band members for example. The percentages are controlled by the band, with no intermediary needed.

The Musicoin roadmap promises many more improvements. Universal Basic Income (UBI) for musicians will be implemented next month. This means that listeners would no longer need to pay from their own wallets, instead the payment comes from a pool of reserved funds from the mining process. The subsidising for artists ensures them a steady revenue, and at the same time stimulates the whole network economy. Listeners would gain by not having to pay from their own coins for consuming music, and instead could choose to tip the artists. In future versions, listeners are also going to have a chance to earn from the “sharism reward.” This distributes a percentage of the Musicoin to the listener who shared the artist’s music. The more you share, the more you gain. This allows for a new sort of intimacy between the artist and their fans.

In our interview with Isaac Mao, he explained that to Musicoin will start paying artists a pegged amount of fiat currency of 0.02 USD per stream – a major increase to top all the other music streamers. The table below shows you the drastic difference.
Musicoin chart comparison pay per stream

Image from musicoin.org

By showing artists that they can earn and thrive with Musicoin more than in current systems, traffic will increase and the network will unleash its value.

Intermediaries such as record labels will not necessarily be terminated, but can find ways to adjust their role to the new system. By making offline deals with musicians, there is still space for them to earn. This could be done by, for example, uploading their catalogues under their brand and distributing to the artists. They could also help musicians set up their profiles and channels.

Isaac continues to explain: “It’s easy to register for musicians with their social media accounts on musicoin.org and start to share their content and instantly see PPP works. There are already over one thousand musicians uploaded their works since it’s open beta at April. With UBI in next step, they will enjoy more income from users playbacks who are flocking for free listening.”

With this new system, every contributor is rewarded for their part with the integrity and transparency that blockchain provides. The music industry will not die, but simply take on a new shape to fit itself to the technology available. As long as humans are around, music will be demanded and supplied in one way or another. Since the internet, music discovery and accessibility are at an all-time high – a commodity we can no longer imagine our lives without. Music will keep being provided to ever-increasing consumers in a more fair and revolutionary way.

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August 19, 2017, 04:53:46 PM
 #1682

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.
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August 19, 2017, 06:35:47 PM
 #1683

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?

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August 19, 2017, 06:49:53 PM
 #1684

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/

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August 19, 2017, 09:46:43 PM
 #1685

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.
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August 19, 2017, 10:38:08 PM
 #1686

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 !
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August 20, 2017, 09:44:43 AM
 #1687

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.
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August 20, 2017, 11:01:43 AM
 #1688

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

 
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August 20, 2017, 11:07:45 AM
 #1689

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.
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August 20, 2017, 11:18:26 AM
 #1690

It would be great to see Musicoin added to Exodus , hope the devs can get someone on that !
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August 20, 2017, 11:48:33 AM
 #1691

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.

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August 20, 2017, 12:24:05 PM
 #1692

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
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August 20, 2017, 02:57:52 PM
 #1693

400k Muiscoin?
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August 20, 2017, 03:43:08 PM
 #1694

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...

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August 20, 2017, 06:13:57 PM
 #1695

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.
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August 20, 2017, 07:54:06 PM
 #1696

http://music.coinminer.space
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August 20, 2017, 08:00:07 PM
 #1697

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
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August 20, 2017, 08:59:01 PM
 #1698


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?

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August 20, 2017, 11:45:48 PM
 #1699

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.

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MPeon
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August 21, 2017, 06:15:57 AM
 #1700

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.

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