BitShares Music + PeerTracks (Pre-sale launch)

[CoinFreedom]

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)

Could you explain this in more detail, please? This seems to be the main way that notes are meant to gain value but I'm having difficulty wrapping my head around what you mean. Say I'm a merchant selling Foo Fighters t-shirts on the blockchain. Do I need to purchase notes to do so?

Please answer my question about the collateral and the usage of notes. How will notes be used once the system is up and running if all transactions are being executed using BitUSDs?

Also, how will you safeguard against people posting other artists' songs and claiming them as their own in a decentralized fashion? Will this not necessitate some type of centralized gatekeeper to assess each artist and verify that they indeed have the rights to what they are offering? Do you expect this to be an expensive and labor-intensive process?

[1714234885]

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[1714234885]

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[HELP.org]

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)

Could you explain this in more detail, please? This seems to be the main way that notes are meant to gain value but I'm having difficulty wrapping my head around what you mean. Say I'm a merchant selling Foo Fighters t-shirts on the blockchain. Do I need to purchase notes to do so?

Please answer my question about the collateral and the usage of notes. How will notes be used once the system is up and running if all transactions are being executed using BitUSDs?

Also, how will you safeguard against people posting other artists' songs and claiming them as their own in a decentralized fashion? Will this not necessitate some type of centralized gatekeeper to assess each artist and verify that they indeed have the rights to what they are offering? Do you expect this to be an expensive and labor-intensive process?

If I understand things correctly there is nothing anyone can do via Bitshares to stop that from happening and you would be left with the legacy court system.

You have hit on what many Bitcoiners gloss over.  Decentralization is not for everything and it is only useful in certain specific use cases.  For instance, .bit domains using namecoin.  If people type in "Microsoft.bit" they don't want to end up on some anonymous site controlled by someone on Bitcointalk.org so the system will most likely never catch on in a big way.

[robrigo]

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)

Could you explain this in more detail, please? This seems to be the main way that notes are meant to gain value but I'm having difficulty wrapping my head around what you mean. Say I'm a merchant selling Foo Fighters t-shirts on the blockchain. Do I need to purchase notes to do so?

Please answer my question about the collateral and the usage of notes. How will notes be used once the system is up and running if all transactions are being executed using BitUSDs?

Also, how will you safeguard against people posting other artists' songs and claiming them as their own in a decentralized fashion? Will this not necessitate some type of centralized gatekeeper to assess each artist and verify that they indeed have the rights to what they are offering? Do you expect this to be an expensive and labor-intensive process?

NOTEs are used for transaction fees. BitShares Music is going to be a fork of the current BTSX chain, which has a decentralized marketplace on chain. BTSX has market pegged assets that are collateralized by putting up at least 3x collateral of the underlying asset (in the case of BitShares Music, this will be the NOTE) in order to short bitUSD into existence. I'd recommend visiting bitsharestalk.org & wiki.bitshares.org to understand how bitUSD works better.

To answer the question of claiming other artists, http://peertracks.com will be the centralized entity that allows a user to purchase music streams and downloads. They will also handle verification of musicians I believe. They will provide the hosting services necessary for these functions. They will simply watch the blockchain to set up access control to music purchased, artist coin perks, etc. The artist coins will be traded as a user issued asset (different than a market pegged asset like bitUSD) on the chain.

So, anyone could set up their own front-end using the Music DAC blockchain, but peertracks will be launching with the DAC to provide this functionality to start.

[hardcoreprime]

Can someone explain to me the process of getting notes.  I sent btc to the address provided and the auction is now over.  I downloaded bitshares x client, but am somewhat confused with the interface.  Is this the platform that i am supposed to import my notes to or is there another bitshares music wallet?

Thanks,

[saddambitcoin]

Can someone explain to me the process of getting notes.  I sent btc to the address provided and the auction is now over.  I downloaded bitshares x client, but am somewhat confused with the interface.  Is this the platform that i am supposed to import my notes to or is there another bitshares music wallet?

Thanks,

the Notes pre-sale continues for another 41 days. every day there is an auction, so we all have to sit tight and wait for 41 more days i think.

[albert_mt]

Ok, let's wait, I am in.

[chryspano]

Can someone explain to me the process of getting notes.  I sent btc to the address provided and the auction is now over.  I downloaded bitshares x client, but am somewhat confused with the interface.  Is this the platform that i am supposed to import my notes to or is there another bitshares music wallet?

Thanks,

There will be a new bitshares music wallet, also you can check some FAQ here http://bitsharesmusicfoundation.org/faq.html

[juicyjuice87]

Simpsons have done it. (Nxt)

[peer2peer360]

A platform that allows users to send money directly to the bands/artists. No middleman, reduced costs.
Incentivized fanbase. Turning passive listeners into active promoters and talent scouts.
We have tied price discovery with talent discovery.

that's exactly what this DAC + site intends to do.

eliminate most middle men.
NO more itunes fees,
NO credit card costs, etc.
transparant ledger (very useful for paying out or receiving royalties)

And we have a way for the small guy to get discovered. spending hours looking for new music is no longer a "waste of time". It is now a puductive income producing activity or an investmnet you could say.
We are turning the users into incentivized talent scouts. Once they discover a potentially good band, they have massive incentive to share around this kid's music and hope he becomes a star.

music and block chain technology, it's a marriage made in heaven! It will put more money in artists pockets and give fans a way to easily invest in artists. If this catches on it could disrupt the music industry.

using DPOS and blockchains to build a decentralized music distribution/crowdfunding service? Sounds like it has a real chance of being the next big crypto killer-app! Bravo!

And btw we haven't even touched the Token Controlled Access features this platform allows.

Basically, everyone will be on equal ground. You will see the rebirth of the musical middle class ^^
Not only poor artists OR millionaire superstars. You will get everything in between since money goes directly from consumer to band. No middleman. and promoters are now done via P2P incentives.

The only "important" people right now are people that have crypto-currencies and that can claim their stake in the DAC by sending it to our pre-sale btc address.
Our only focus right now is the crypto-community. They understand blockchain crowdfunding.

[CoinFreedom]

Could we get some more info on the people working on this project?

Cédric Cobban seems to have a clear and well articulated vision for the project, which is great.

Eddie Corral claims to have "over 25 years in the music business working with major label artists" but the only artist connections I could find on the web were three albums I've never heard of. http://www.artistdirect.com/artist/credits/eddie-corral/1066246  http://www.allmusic.com/artist/eddie-corral-mn0001832014/credits

Here he is talking about PeerTracks http://www.youtube.com/watch?v=DB62lQZo4xM 

About halfway through he mentions a partnership with a marketing company connected to over 1000 artists and athletes. Any more info on this?

Also, who is peer2peer360? and how is he/she related to the project?

This whole thing has huge potential if it's well executed. The concept behind it is brilliant. I'm just not quite sure how you plan on getting the musical talent on board.

[unsoindovo]

I'm following the IPO on blockchain. It seems to collect 20/25 btc daily. Is not a.really big IPO at the end...

[delulo]

I'm following the IPO on blockchain. It seems to collect 20/25 btc daily. Is not a.really big IPO at the end...

The IPO rates it at only about 2.6m USD at those prices (calculated it with 22 btc per day). It is worth way more than that!

[unsoindovo]

I'm following the IPO on blockchain. It seems to collect 20/25 btc daily. Is not a.really big IPO at the end...

The IPO rates it at only about 2.6m USD at those prices (calculated it with 22 btc per day). It is worth way more than that!

hum.. i do not know if It is worth way more than that...
do you see the recent change from BTSX to BTS???
it was so exciting

[delulo]

I'm following the IPO on blockchain. It seems to collect 20/25 btc daily. Is not a.really big IPO at the end...

The IPO rates it at only about 2.6m USD at those prices (calculated it with 22 btc per day). It is worth way more than that!

hum.. i do not know if It is worth way more than that...
do you see the recent change from BTSX to BTS???
it was so exciting

https://bitsharestalk.org/index.php?topic=11464.msg151359#msg151359

[cryptonikus]

20 BTC a day flowing into IPO, is extremely huge amount of money for crypto scene projects in current state of market developement. Any guess where is such a huge deamnd coming from?

[testz]

20 BTC a day flowing into IPO, is extremely huge amount of money for crypto scene projects in current state of market developement. Any guess where is such a huge deamnd coming from?

I think it's comes from BitShares supporters, almost everybody who know about BitShares technology and dev team trust them and has a good feeling about BitShares Music future.

[BitcoinBoost]

I'm following the IPO on blockchain. It seems to collect 20/25 btc daily. Is not a.really big IPO at the end...

The IPO rates it at only about 2.6m USD at those prices (calculated it with 22 btc per day). It is worth way more than that!

It is way undervalued at that rate.

[delulo]

20 BTC a day flowing into IPO, is extremely huge amount of money for crypto scene projects in current state of market developement. Any guess where is such a huge deamnd coming from?

It's not your average "coin IPO". The people behind this project (Cedric and Eddie) are out there with there public identity, they have a whitepaper, a sound business model, use reasonable technology (bitshares) and are supported by the bitshares community as well the the bitshares dev team which is a huge asset since there guys are well connected to the business / start up world.
This market (blockchain projects/startups) is dominated by network effect. That means buy into a few projects that can really work and make it to the top. This is definitely such a project.

[GailSan]

20 BTC a day flowing into IPO, is extremely huge amount of money for crypto scene projects in current state of market developement. Any guess where is such a huge deamnd coming from?

I do believe there is some limited intent behind the coin but if these people know anything about the music scene  they know very well this project wouldn't even be able to take on even the smallest online retailer let alone the major ones. The music industry is really huge - much much larger than people generally perceive. The huge vested interests in keeping the status quo completely dwarf any possibility of further upheavals. Be assured the music industry is very tired of that now, and with justification. It was the first industry to experience the online phenomena/piracy and its only the last five years max its been able to recover. For 10 years the music industry went through many violent changes. The artists, labels and distributors have had enough. Artists now know the internet didn't empower them at all. That was made up up by P2P crowd who obviously had vested interests  The people running this project know very well it will never get off the ground in terms of any meaningful widespread adoption.

A: No major artists can ever sign up to this unless they are a completely unsigned entity (chance of that almost 0%) . That means you cannot trade their music period.
B: As well as major artist no major label will sign up. That means their vast catalogs cannot be used
C: Small and indie artists would have been the best avenue for catchment but its much to complex. Same goes for their fans.
D: When you really get down to it what is there offered here for any artist they cant already do. These days releasing a single is nothing more than PR. Its the modern day flyer.

The general public can listen to music 24/7 completely free from a wealth of sites out there. Spotify and Pandora are probably the best examples of that but there are many many more which include niche operators. When it comes to buying music its a one click operation from Apple, Amazon, Google or whatever host you wish to use. None of them require any of the public to understand anything about the behind the scenes process and they certainly dont have to worry about wallets, bitcoin, exchanges etc.

 If this project were fully genuine and serious and made in a way to genuinely empower artists and their fan base I would be all for it. But its not. This is a pure enrichment scheme for a few people using the music industry as the vehicle for it. I do take exception to that because I'm a bit pissed off at how the music industry has been kicked around and abused by anyone with any kind of vested interest - particularly the p2p evangelists.

Should you invest in this: Totally up to you. Invest in it only if you think the coins value will rise. Dont invest in it if you believe this project will change teh face of the music industry. Its pure gambing.

[delulo]

If this project were fully genuine and serious and made in a way to genuinely empower artists and their fan base I would be all for it. But its not.

You didn't mention any reason for why you have that impression.

It's hard to say if a project is serious and can go through the roof. There are a few indicators that this is a serious entrepreneurial effort. The people behind it are publicly known and the business model is sound.

You didn't give any specific reason for you sentiment.
http://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-164-the-page-and-the-notes
https://bitsharestalk.org/index.php?topic=11669.msg153678#msg153678