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drekrob

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Bittunes
« on: February 18, 2015, 05:28:07 PM »

Saw this on reddit today: http://www.bittunes.com/
Looks like they are trying something similiar to bitshares music.

jaran

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Re: Bittunes
« Reply #1 on: February 18, 2015, 06:14:31 PM »
From looking at it briefly it doesn't seem to be very good.  They seem to have some weird payment sharing mechanism where the last 5 people to purchase a song get a dividend for that song.  If you are not in the last 5 you get no dividend.  So there appears to be no concept of the artist coin etc.

Looks like the artist is only getting 40% too.

Based on this i would say they have a flawed system.  However their website sucks and i had to find that info buried deep down in there last blog post so not sure what exactly they are at this point



« Last Edit: February 18, 2015, 08:17:20 PM by jran »

Offline carpet ride

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Re: Bittunes
« Reply #2 on: February 18, 2015, 06:16:55 PM »
It will run on the Bitcoin ledger and use BTC as fuel..Probably a non starter


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Offline cass

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Re: Bittunes
« Reply #3 on: February 18, 2015, 08:12:33 PM »
mh this not convinced me! I'm not a big fan of their GUI!
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Offline CLains

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Re: Bittunes
« Reply #4 on: February 18, 2015, 11:21:52 PM »
It's getting hot.
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Offline MrJeans

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Re: Bittunes
« Reply #5 on: February 18, 2015, 11:23:06 PM »
Website is confusing. Still captivates my attention because of the subject matter.
Nothing too innovative though

Offline hadrian

Re: Bittunes
« Reply #6 on: March 12, 2015, 10:48:38 AM »
There is this episode of Bitcoins and Gravy (on LTB network).

It's called Episode #55: BitTunes: Setting Music Free!

Simon Edhouse is the man behind BitTunes, and he's taking it very seriously.

I was going to go through the episode and pick out any bits which may be useful but I don't have time right now.

Does anyone know if Cob and co. know much about BitTunes' plans?
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Offline santaclause102

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Re: Bittunes
« Reply #7 on: March 12, 2015, 12:28:55 PM »
There is this episode of Bitcoins and Gravy (on LTB network).

It's called Episode #55: BitTunes: Setting Music Free!

Simon Edhouse is the man behind BitTunes, and he's taking it very seriously.

I was going to go through the episode and pick out any bits which may be useful but I don't have time right now.

Does anyone know if Cob and co. know much about BitTunes' plans?

As far as I got it (most important stuff seems to be around 45 min - 1:05) it like filesharing of songs (everyone can offer songs for download)
+ those that previously downloaded a song and keep on offering it for download get rewarded for that (discovery / incentive mechanism to download good songs before anyone else does)
+ artists officially authorize the sale of their songs
+ customers pay in Bitcoin and artist receive Bitcoin.
+ No artist coins but a list of most downloaded songs (in categories). Songs that are in the top 100 cost 1 usd songs out of top 100 cost 50cents. 

Money from songs purchases goes to:
- If in Top 100: 20 to Bittunes, 40% to Artist, 40% to Seeders.
- If out of Top 100: 50% to Artist, 50% to Seeders
Always 5 seeders are choosen to be paid randomly if there are more than 5.

Everyone has a deposit account and an earnings account.

Offline cob

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Re: Bittunes
« Reply #8 on: March 12, 2015, 03:15:54 PM »
Yeah cool project.

We've had on eye on it for a few months.

They aren't really doing the same thing as us. At all. They are focused more on music distribution.

We are out to be the premier music streaming platform. We use market mechanisms to aid in talent discovery.

Bittunes is very distribution centric. I don't think they are designing it to be a consumer facing product like Spotify or Pandora.
PeerTracks aims to be just that, an app people use to listen to and discover music.

Also, distribution of a 4 meg file is borderline free nowadays. It's not like music distributors are having trouble competing with the efficiency of BitTorrent. No Bittorrent's efficiency is in it's pricing.... FREE.
The reason torrents are widespread is because they can't be stopped, no head to cut off, and they offer a cheaper/free product.
Bittunes uses blockchain tech to distribute music. That's not the added value blockchains offer though. The cost of distribution being nearly nill, using p2p networks to distribute doesn't really give you a competitive edge on the legacy system. And Bittunes compared to bittorrent is not free.

I don't think Torrents would ever have taken off (in the music world) if you had a user friendly site/app that allowed you to listen to everything for free and even save it for offline use. Why would anyone bother with torrenting an album if they just looked it up on the music app and started listening instantly?
That's what PeerTracks is doing.
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Offline cob

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Re: Bittunes
« Reply #9 on: March 12, 2015, 03:18:09 PM »

+ No artist coins but a list of most downloaded songs (in categories). Songs that are in the top 100 cost 1 usd songs out of top 100 cost 50cents. 

Money from songs purchases goes to:
- If in Top 100: 20 to Bittunes, 40% to Artist, 40% to Seeders.
- If out of Top 100: 50% to Artist, 50% to Seeders
Always 5 seeders are choosen to be paid randomly if there are more than 5.

We leave this up to the market a.k.a. Peers
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

 

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