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jaran

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NOTES to be a UIA on bitshares blockchain??
« on: February 04, 2015, 01:30:31 AM »

Can someone from the music team please comment on whats being said in this thread regarding NOTES being a UIA on the bitshares blockchain

https://bitsharestalk.org/index.php?topic=13988.msg182031#msg182031

What would be the reasoning behind such a move etc?

Offline daidai

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Re: NOTES to be a UIA on bitshares blockchain??
« Reply #1 on: February 04, 2015, 01:45:33 AM »
I'd like NOTES use its own blockchain. there are too many bad factors in BTS now.
and the BTS's price is down and down..

cob,please keep your mind,we like the pure music.

Offline toast

Re: NOTES to be a UIA on bitshares blockchain??
« Reply #2 on: February 04, 2015, 01:49:10 AM »
This is just the snapshot made liquid. Nobody has decided to make it on BTS yet. That will only be done if NOTE's can *definitely* capture income from music-related transactions, which we have no reason to believe right now.

Don't panic...
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jaran

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Re: NOTES to be a UIA on bitshares blockchain??
« Reply #3 on: February 04, 2015, 02:12:29 AM »
This is just the snapshot made liquid. Nobody has decided to make it on BTS yet. That will only be done if NOTE's can *definitely* capture income from music-related transactions, which we have no reason to believe right now.

Don't panic...

OK Thanks for the clarification.  I am with the chinese guy above and was worried that MUSIC was going to become a part of the BTS chain.  Even though i have high hopes for both I dont want to see MUSIC become a part of the BTS chain.
« Last Edit: February 04, 2015, 02:15:19 AM by jran »

Offline graffenwalder

Re: NOTES to be a UIA on bitshares blockchain??
« Reply #4 on: February 04, 2015, 08:03:23 AM »
Everybody was happy to wait untill March.

Why would you want to liquidate NOTE, in a bearish market?
And also why do this, when there are so many unknowns about Bitshares Music?

This may lead people to think that NOTE will be on the BTS chain.
What would the value of NOTE be then?
is it possible to short an UIA to create an artist token?
« Last Edit: February 04, 2015, 08:07:46 AM by graffenwalder »

Offline xeroc

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Re: NOTES to be a UIA on bitshares blockchain??
« Reply #5 on: February 04, 2015, 08:29:55 AM »
Quote
Why would you want to liquidate NOTE, in a bearish market?
People want to buy into NOTES!!

Quote
And also why do this, when there are so many unknowns about Bitshares Music?
People are trading ethereum .. though they haven't finalized the design

Quote
This may lead people to think that NOTE will be on the BTS chain.
This is either something that has to be communicated accordingly, or people are
stupid. Have you heard about NEMstake? It's the same. The Ethers you can buy for
Ethereum are also just IOUs issued by a third(!) party. Still people trade
them.

Quote
What would the value of NOTE be then?
That's what the market has to decide! There are people that want to sell because
of some reasons and there will be people that want to buy.

Quote
is it possible to short an UIA to create an artist token?
nop .. artist coins do not exist in BTS .. what you can trade is nothing more
than a promised for a stake in the genesis block of bitshares MUSIC.
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Offline Ander

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Re: NOTES to be a UIA on bitshares blockchain??
« Reply #6 on: February 04, 2015, 09:00:32 AM »
Why would you want to liquidate NOTE, in a bearish market?
And also why do this, when there are so many unknowns about Bitshares Music?

I'm willing to liquidate...if you panic buy at very high prices.  :)
Otherwise holding.
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Offline graffenwalder

Re: NOTES to be a UIA on bitshares blockchain??
« Reply #7 on: February 04, 2015, 09:04:08 AM »
Quote
nop .. artist coins do not exist in BTS .. what you can trade is nothing more
than a promised for a stake in the genesis block of bitshares MUSIC.

This is what I meant, according to Toast, it's not sure if Music has it's own blockchain
So, if it where just to use the BTS blockchain, and it couldn't back any asset, there's no real value to NOTE right?

If it's its own blockchain, there will be a snapshot from NOTE UIA to the real NOTEs after the NOTE UIA is frozen. If it doesn't have its own blockchain, we'll be building whatever smart contract stuff they need into BTS directly. That is still not decided and it's not that important in the short term, this just lets people trade the snapshot.

This has to be clarified before NOTE UIA is tradable

Offline xeroc

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Re: NOTES to be a UIA on bitshares blockchain??
« Reply #8 on: February 04, 2015, 09:14:19 AM »
I am also unclear about how they will distributr NOTES to their holders .. will they pay the tx fee or fork the new NOTES balances into the blockchain?
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Offline arhag

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Re: NOTES to be a UIA on bitshares blockchain??
« Reply #9 on: February 04, 2015, 09:19:47 AM »
This is what I meant, according to Toast, it's not sure if Music has it's own blockchain
So, if it where just to use the BTS blockchain, and it couldn't back any asset, there's no real value to NOTE right?

If the features meant for the Music blockchain were to instead exist on the BTS blockchain (or alternatively if Music had its own blockchain but the Notes existed on the BTS blockchain and the Music blockchain, which would be a child DAC, used BitUSD rather than NoteUSD, like I would prefer they do), that still doesn't mean Notes would have no value.

Part of the value of Notes comes from the fact that they are used as the collateral in shorts to back NoteUSD. People holding NoteUSD on the Music blockchain would be helping support the value of Notes. But it is questionable how much NoteUSD people will be willing to keep on that blockchain. I would imagine it would only be a small amount to just purchase the music they want (and for artists to receive their payments in NoteUSD), and then everyone would regularly move it in/out into BitUSD where the real liquidity is. If that assumption is true, then most of the value of Notes should instead be coming from the buyback mechanism where the blockchain takes a percentage cut of each music sale in NoteUSD and that goes toward buy pressure for Notes in the Note/NoteUSD market.

I see no reason why that shouldn't still be possible to do even if Music features were implemented on the BitShares blockchain. In that case, a percentage cut of BitUSD used for music sales would go towards buy pressure for Notes in the Note/BitUSD market. Alternatively, I think it would be interesting if we had dividend features for UIAs so that the BitUSD fees could be collected in a pool and then regularly released as a dividend to all Note UIA holders. Holding Notes would still be like holding stocks in a company, except the company is a DAC.

This all said, I think what is most likely going to happen is that when the Music blockchain is finally ready they will just take a snapshot of the Note UIA and release as a traditional blockchain DAC.

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Re: NOTES to be a UIA on bitshares blockchain??
« Reply #10 on: February 04, 2015, 09:58:56 AM »
This all said, I think what is most likely going to happen is that when the Music blockchain is finally ready they will just take a snapshot of the Note UIA and release as a traditional blockchain DAC.
That's my impression too ..
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Offline cn-members

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Re: NOTES to be a UIA on bitshares blockchain??
« Reply #11 on: February 04, 2015, 02:00:56 PM »
This is just like NEM on NXT-AE , nothing new .

It's not together , just use the platform to trade future stake .
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Offline Ander

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Re: NOTES to be a UIA on bitshares blockchain??
« Reply #12 on: February 04, 2015, 07:42:13 PM »
This is just like NEM on NXT-AE , nothing new .

It's not together , just use the platform to trade future stake .

That makes sense. 
Especially seeing as its now been about 4 months since anyone could buy or sell something that gave you NOTES.
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Re: NOTES to be a UIA on bitshares blockchain??
« Reply #13 on: February 05, 2015, 07:22:45 AM »
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