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Offline bytemaster

Radio/TV Station DAC
« on: February 10, 2014, 06:09:44 PM »

Imagine a digital juke box that is fully decentralized where people pay to play music and the owners of songs make money.

How it works is this:  The blockchain tracks the hash of every song, the length of every song, and how much money has been put on that song.  The song with the most money per second of length is played next and then the balance is reset to 0.  The blockchain arranges so that 50 minutes of music is played per hour leaving 10 minutes available for custom radio stations to provide their own content and earn income necessary to broadcast the music.  Individuals can attach a dedication to the song provided they were the largest single contributor.

Now artists can issue an IPO on the block chain for each song they write.  They initially own 100% of the song, but may sell shares in their song to raise money to support their music.   Fans can then literally buy the music and own a cut of it just like owning shares in a record label.  Any time money is spent to bump the song in the playlist 50% of the money is used to purchase shares in the song from the market (on blockchain)... these shares are then held for ever, taking them off the market and effectively paying a dividend to all remaining share holders in the song.   

Anyone who attempts to publish work copyrighted by others (ie: not licensed to the DAC) would find that no one would buy shares in that particular song as the proceeds would clearly be going to someone illegitimate.   Radio stations would then be able to blacklist songs which would be illegal for them to play.   As a result, if a Beatles song were attempted to be listed without permission of the Beatles copyright owners then it would never play on radio stations, few people would bid it up on the jukebox yielding low dividends and it would be unlikely to ever play, and if it ever did make it to the top of the queue it would be replaced with an Ad by the broadcaster. 

In other words, this DAC can promote the development and distribution of music while cutting out the RIAA. 

This same model can be used to create TV channels and news aggregators or any content system.   

There can even be many Radio DACs, one for Country Music, Rap, Classical, Talk Radio, etc... 

It gets really interesting when advertisers have to compete with fans for air time.  An advertiser could create an ad, and then bid it up like it was a song.  This actually creates incentives for people who want more music to outbid Ads and of course any Ads listed would have to be in the public domain or they would get black-listed like other copyrighted works and thus not aired on any radio stations.   In fact, advertisers would want people to invest in their Ads if they are a fan of the product.

The value of this DAC depends upon broadcasters being willing to broadcast the playlist and honor the social contract as well as listeners to listen to the songs as they are bid up.  Of course, fans, song writers, and music lovers have incentive to agree to this social contract as everyone benefits: fans get to hear new music AND make money on the good stuff, song writers get an audience and a fair shot, and broadcasters get free content, an audience, and an opportunity to sell Ads. 



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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.

Offline bytemaster

Re: Radio/TV Station DAC
« Reply #1 on: February 13, 2014, 04:03:20 AM »
Lets assume we have a shell DAC with shares... lets call them MusicShares:   MSH
Lets assume we have a song called The Government Can (http://www.youtube.com/watch?v=LO2eh6f5Go0) by Tim Hawkins

The block chain will allow Tim to create new shares for his song provided he pay a small insertion fee in MSH.  The result of this transaction is that Tim's wallet now contains  100% of the  TGC shares 1,000,000 TGC shares.   These shares are identified by the HASH of the song.     

Tim can now publish orders in the block chain to sell TGC for MSH or he can transfer TGC shares to his fans how ever he chooses.

Fans will want to hear his song played on the radio so they can use some MSH to vote up his song.  The radio station play list (managed by the blockchain) will play what ever song has the highest MSH balance and then reset the balance to 0.   The MSH balance in the playlist will then be used to purchase TGC shares on the blockchain market (accepting the lowest asks), after buying TGC shares the blockchain will 'destroy them'  and thus everyone else who owns TGC shares ends up owning a larger percentage of the available shares (and thus receives a dividend). 

When the blockchain processes bids/asks between TGC and MSH there are times where TGC is destroyed (because someone entered an ASK lower than the highest BID... ).    Thus this destruction also pays a dividend to TGC holders.

Fans of a song can thus profit by buying a song early, and as it becomes more popular it will be requested more (radio) and the transaction volume will increase, both of which will increase the value of owning shares in the song.  Because profits are proportional to popularity the value of the song will closely track the value of the song and the artist and fans can make money by investing in the song.

Someone can then create a website that makes it easy to buy, sell, songs and request songs to be played on the radio with a dedication. 

There would of course be multiple radio stations injecting different kinds of ads into the stream to pay for bandwidth.
« Last Edit: February 13, 2014, 04:16:19 AM by bytemaster »
For the latest updates checkout my blog: http://bytemaster.bitshares.org
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.

Offline cob

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Re: Radio/TV Station DAC
« Reply #2 on: February 13, 2014, 04:44:35 AM »
The MSH balance in the playlist will then be used to purchase TGC shares on the blockchain market (accepting the lowest asks), after buying TGC shares the blockchain will 'destroy them'  and thus everyone else who owns TGC shares ends up owning a larger percentage of the available shares (and thus receives a dividend). 

Would it be better or simpler to not destroy any stock and just have the MSH paid out AS MSH to the owners of TGC?
That way 100% of the stock is still out there, and people get their cut of those MSH that they can spend without selling any of their beloved TGC shares.

This is the approach you are taking with BTS X correct? Any specific advantage to the destroying method?

Another way that shares in a song can go up in value is if the song is heavily traded and TGC are lost to transaction fees.
Can you elaborate on this?

Someone can then create a website that makes it easy to buy, sell, songs and request songs to be played on the radio with a dedication.
As soon as I can explain every aspect of it to a five year old. I'll get a team together.
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.

Offline bytemaster

Re: Radio/TV Station DAC
« Reply #3 on: February 13, 2014, 04:52:25 AM »
Destroying is much easier... and nearly identical economically.   If you want to display everyone's shares as  MY_SHARES / TOTAL_SHARES * 1000000 then people will see their shares increase as if you had actually given them a dividend.

I discuss the BitShares X matching algorithm here:
https://bitsharestalk.org/index.php?topic=2594.0

Bottom line is that if I have an offer to buy 1 TGC for 1 MSH each and you enter an offer to sell 2 TGC for .5 MSH each then the matching algorithm will take your 2 TGC, give you 1 MSH, then give 1 TGC to the buyer and destroy 1 TGC.  Both buyer and seller got exactly what they asked for, and the difference was the transaction fee.   That missing 1 TGC is the fee. 




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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.

Offline cob

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Re: Radio/TV Station DAC
« Reply #4 on: February 13, 2014, 05:02:03 AM »
Makes perfect sense.

And regarding MusicShares in general. Would this be it's own "altcoin" à la Protoshares, or just a copy of BTS? TaPOS?

And I remember you mentioning people could just take this blockchain and copy it over to multiple sites.
How would this effect the ecosystem? Is it a fork, diluting everything? Care to explain?
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.

Offline bytemaster

Re: Radio/TV Station DAC
« Reply #5 on: February 13, 2014, 05:06:10 AM »
Makes perfect sense.

And regarding MusicShares in general. Would this be it's own "altcoin" à la Protoshares, or just a copy of BTS? TaPOS?

And I remember you mentioning people could just take this blockchain and copy it over to multiple sites.
How would this effect the ecosystem? Is it a fork, diluting everything? Care to explain?

This would be a modified version of BitShares X where the songs are issued rather than shorted into existence.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
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.

Offline cob

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Re: Radio/TV Station DAC
« Reply #6 on: February 13, 2014, 05:23:48 AM »
looking at the competitors, They can create a playlist out of any type of music you like.
For example, you choose a rap song, and they will suggest other songs with similar beats, or other songs that "people who like this also liked:"

A blockchain choosing the next song using price might create an inferior user experience.

With 8 tracks for example you can search by: most liked, most favorited, trending, etc.

Seems like the idea of a "radio station" might be a step back. compared to how personalized each pandora playlist can really be.
« Last Edit: February 13, 2014, 05:25:34 AM by cob »
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.

Offline bytemaster

Re: Radio/TV Station DAC
« Reply #7 on: February 13, 2014, 05:35:39 AM »
The jukebox/radio station would collect the information required to do this based upon which songs you fund... the result is that with some blockchain transaction graph analysis you can make the same kinds of predictions that these other stations make. 

So you could build your own custom playlist through 'bumping' a few songs and then it would find songs others also bumped. 

This doesn't have to be an either or thing, I would make it 'both'. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
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.

Offline cob

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Re: Radio/TV Station DAC
« Reply #8 on: February 13, 2014, 09:09:08 PM »
The jukebox/radio station would collect the information required to do this based upon which songs you fund... the result is that with some blockchain transaction graph analysis you can make the same kinds of predictions that these other stations make. 

So you could build your own custom playlist through 'bumping' a few songs and then it would find songs others also bumped. 

This doesn't have to be an either or thing, I would make it 'both'.

So each station wouldn't be it's own blockchain the. Correct? How does your personalized station choose which song to play? And does it pay out the dividends even thouhgt it only played for one guy ? I must not understand correctly. Because the fans paid to bump up the song because they want their band to be heard by millions.
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.

Offline bytemaster

Re: Radio/TV Station DAC
« Reply #9 on: February 14, 2014, 12:55:26 AM »
Your individual stations wouldn't be on the blockchain... just the public stations.  Think of the public station as 'broadcast radio'  where as private stations are like pandora.   The software on your local computer would perform the calculations to find similar songs and play them for you.   
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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.

Offline cob

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Re: Radio/TV Station DAC
« Reply #10 on: February 14, 2014, 01:17:02 AM »
Your individual stations wouldn't be on the blockchain... just the public stations.  Think of the public station as 'broadcast radio'  where as private stations are like pandora.   The software on your local computer would perform the calculations to find similar songs and play them for you.
Ok i see. So the personalized playlist wouldn't be a money generating jukebox. It could generate income if someone discovered a song they liked and invested in it or got the album. But the jukebox option is just for public stations.
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Offline cob

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Re: Radio/TV Station DAC
« Reply #11 on: February 14, 2014, 02:53:17 AM »
Oh and could you adress this when you have a moment please?

"And I remember you mentioning people could just take this blockchain and copy it over to multiple sites.
How would this effect the ecosystem? Is it a fork, diluting everything? Care to explain?"

Thank you sir!
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.

Offline bytemaster

Re: Radio/TV Station DAC
« Reply #12 on: February 14, 2014, 03:12:26 AM »
Oh and could you adress this when you have a moment please?

"And I remember you mentioning people could just take this blockchain and copy it over to multiple sites.
How would this effect the ecosystem? Is it a fork, diluting everything? Care to explain?"

Thank you sir!

This is no different than having multiple block explorers out there. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
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.

Offline joshua_chen

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Re: Radio/TV Station DAC
« Reply #13 on: February 14, 2014, 09:03:49 AM »
Your individual stations wouldn't be on the blockchain... just the public stations.  Think of the public station as 'broadcast radio'  where as private stations are like pandora.   The software on your local computer would perform the calculations to find similar songs and play them for you.

So my personal station could just play the songs which haved been broadcasted by the pubic station after I have voted up the song. If not, people would have no incentive to vote up songs on blockchain. Am I right?

Offline cob

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Re: Radio/TV Station DAC
« Reply #14 on: February 14, 2014, 04:39:20 PM »
Oh and could you adress this when you have a moment please?

"And I remember you mentioning people could just take this blockchain and copy it over to multiple sites.
How would this effect the ecosystem? Is it a fork, diluting everything? Care to explain?"

Thank you sir!

This is no different than having multiple block explorers out there.

But it wouldn't help MusicShares gain value.
Unless the listener likes a song and decides to track it back to the original website where he can purchase it.

Because let's say the underlying protocol is the MusicShares blockchain. The jukebox padora-ish website uses the MSH blockchain in order to know what songs to play and when. People use the jukebox/website to put MSHs in the specific songshares they like. When the jukebox plays it, dividends are paid out.

Now if, say, a Chinese website pops up. Using the same exact blockchain as reference. It could theoretically just play all the songs for free, it just couldn't vote on what song is played next. Users of the Chinese website could just be passive listeners. Unless of course they buy MSH and start paying/voting.

Now this could make it so that many many personalized playlists could be done by millions of users all over the world that would not contribute any income to the jukebox. They would just listen to their custom playlists and use the blockchain as reference for what plays next. They would just "freeload" off of what the jukebox filters (the crap from the good stuff) and listen to pure good stuff without ever having to pay a penny.
Not that that's inherently bad of course, but the aim is to increase the incentive for artists to put up their stuff online. They need to get paid somehow.

The jukebox kinda seems to take a backseat in this situation no? Meaning another site can just use the blockchain and not pay out.
« Last Edit: February 14, 2014, 05:05:49 PM by cob »
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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