Feeler for investment to bid on coolio music collection

[superbit]

It looks as though Coolio is selling of the rights to his entire music collection.  See story here:

http://www.theguardian.com/music/2013/aug/21/coolio-music-catalogue-rights-career-chef

I was wondering what people thought of bidding on this under a bitcoin investment.  Myself, or someone else could create a security to bid on the music collection.  We would agree upon a max bid, I was thinking around 240K which would give an annual return of close to 10% in annual royalties.  If not enough money is raised or the auction isn't one the money would be returned to investors less any fees accrued along the way.

I was thinking it could be pretty cool publicity for bitcoin, and give a nice diversified asset from the usual mining companies. 

The auction ends in 4 days so this would have to be thrown together pretty quickly if even possible at all.

Thoughts?

[redbeans2012]

[superbit]

LOL....well it's half serious, that's why I called it a feeler.

I mean if the auction could be won for 150K, that would be 15% return in fiat on a tangible asset.  Plus the publicity for bitcoin could be good.  But I'll stick with my first response, half serious.

[redbeans2012]

LOL....well it's half serious, that's why I called it a feeler.

I mean if the auction could be won for 150K, that would be 15% return in fiat on a tangible asset.  Plus the publicity for bitcoin could be good.  But I'll stick with my first response, half serious.

Do you know much in dollars a 10% royalty would be per year? 

[navitatl]

I like the idea. If someone comes up with a good strategy for increasing royalty revenue, I'll kick 24k towards it. I'm thinking along the lines of viral advertising, using a new distribution model to gain publicity. Basically try a bunch of different tactics to try to get those royalty payments to shoot up and make the investment a really good one.

EDIT: I also think the max bid should be somewhere in the upper 6 figures if we want a hope at winning.

[adameb]

So for like 10btc, I could own as much as like 1% of all Coolio's life work?   That's actually pretty solid, to be honest.

[adameb]

LOL....well it's half serious, that's why I called it a feeler.

I mean if the auction could be won for 150K, that would be 15% return in fiat on a tangible asset.  Plus the publicity for bitcoin could be good.  But I'll stick with my first response, half serious.

Do you know much in dollars a 10% royalty would be per year? 

The article said it earns just over $23k per year in royalties.

[superbit]

Hmm, well maybe there is enough interest to give it a go.  Worst case everyone gets the coins back less some small fees.  Is there enough time to get approved on an exchange?

[redbeans2012]

Hmm, well maybe there is enough interest to give it a go.  Worst case everyone gets the coins back less some small fees.  Is there enough time to get approved on an exchange?

Do it why not? 

[1phone1world]

I am in... not only will i constantly play Gangsters Paradise while walking into work threw one of those thinkgeek themesong shirts.... dat man can cook!

http://www.thedailybeast.com/articles/2009/12/08/how-to-cook-ghetto-gourmet.html

Dont' be stingy with that dime bag of pepper!

  -io

-1phone1world

[BitHub]

Investing in the music industry is saaaaaafe

[superbit]

I'll get on creating the asset first thing tomorrow.

[str4wm4n]

reserved

[BlockChains]

I already go out to the car singing "come along and ride on a fantastic...." And my girlfriend rolls her eyes. So now when I blast it on YouTube everyday I'll be like "But babe! I bought bitcoin stock in coolio!!!"

 (This is great aside from that whole thing where any investment with fiat returns sees diminishing bitcoin gains as the price of BTC goes up)

[BlockChains]

Also, even if we got the money together some jerk off rich kid child actor who was a teen in this era will buy up the rights as some ironic sentimental thing. I can see it now...

Who bought the rights to Coolio's collection? Fuckin' Macaulay Culkin. For $10 million.

[shandafa]

Ha ha, I really like this idea.  
Count me in if the asset is created.
Where? Btct?

Wie probably won't win the auction or won't make a lot money/btcs with it.
But it's fun and can maybe get some publicity for bitcoins in general, so then we all can still profit.

[TMAN]

im in & I guarantee investment from a number of my pals.

get it on BTCT see what happens dude.

[Deprived]

im in & I guarantee investment from a number of my pals.

get it on BTCT see what happens dude.

Much as I like BTC-TC that's probably not a good idea - in fact I doubt any exchange is.

If the auction finishes in 4 days then OP would need USD in hand in 405 days time.  That could be tough even if done via direct transfers on the forum - but in 4 days to get approval on BTC-TC and a manual withdrawal and exchange it to USD on an exchange and get it withdrawn to an account?

This is unlikely to work unless OP has the cash himself to pay if you win (then get it back in BTC). If you win the bidding you have to pay within 24 hours by cashier's cheque/paypal/credit-card.

So forget it unles OP has the cash himself OR already has the facility to cash BTC on that scale out very rapidly.

EDIT:  If you were to go ahead best way would likely be to do it off-exchange with investments made in USD not BTC (so pay by bank transfer) then list on an exchange afterwards to handle dividends etc there.

[Bitcycle]

It's a great idea, but listing on an exchange really stacks the timeline against you.

[superbit]

It's a great idea, but listing on an exchange really stacks the timeline against you.

Yes I definitely wish I would have known about this earlier.  I'm not as worried about getting the money converted to fiat, I'm sure the auction house will give you 48 hours or so to get the money to them.

Hate to spend $500 to list the asset when the odds of getting it done in time are pretty low, and of course I got called into work at 6AM this morning so only have access on my phone.  If someone else with more time today wants to take the idea and run with it I'm all for it.  Otherwise I'll try to get it on BTCTC later, but clock is really starting to tick.