Zenith Music Exchange

[cass]

Eddie is not any coin.  He has been a voting member of the Academy of Music for over a decade.  He has access to all the big record labels.  He can put together deals that compete with iTunes.  He has and can sign artists.  It is he who will supply the stream of new talent for people to trade.

Eddie IS this business.

...and he gave us half.

  Sounds very promising... a little preemptive PR and we're good to go.

it's sounds really promising - i've worked 2-3 years for really small record label ... on music business those kind of contacts to major labels etc. are 85% of the rent.
So i guess we have great initial situation now to make BitShares Music really awesome.

[unimercio]

Eddie is not any coin.  He has been a voting member of the Academy of Music for over a decade.  He has access to all the big record labels.  He can put together deals that compete with iTunes.  He has and can sign artists.  It is he who will supply the stream of new talent for people to trade.

Eddie IS this business.

...and he gave us half.

  Sounds very promising... a little preemptive PR and we're good to go.

[sumantso]

Great news. It seems my ranting has worked

[smiley35]

Please read Cob's more recent update thread. They are not using Zenithcoin at all anymore. Put this thread to a rest, please.

https://bitsharestalk.org/index.php?topic=4224.0;topicseen

[donkeypong]

Please read Cob's more recent update thread. They are not using Zenithcoin at all anymore. Put this thread to a rest, please.

[JakeThePanda]

I believe Frictionlesscoin claims to be this dude.

NEX is developed by CodeAudit Corp. CodeAudit Corp. is a U.S. based S-corporation founded by Carlos Perez. Carlos Perez has over 20 years experience developing advanced software applications. You can find more details about his writing in his blog: http://www.manageability.org.

https://bitcointalk.org/index.php?topic=422052.0
http://www.nexcoin.net/?page_id=10

Quote from: JakeThePanda on March 10, 2014, 01:58:49 PM
Hey, you didn't answer this question.  Are you Carlos Perez of the below corp?



About CODEAUDIT CORP

CODEAUDIT CORP is a company categorized under General Farms, Primarily Crop.

Address
21302 PURPLE ASTER CT Germantown, Maryland, United States, 20876
Show Map
Phone Number
(301) 515-3315

You probably have bad sources,  here is a more definitive source:

http://experian.alacrastore.com/storecontent/experianus/CODEAUDIT-CORP-713914295

[santaclause102]

Eddie learned of this coin from an eBay listing and that is his only relation to them.

It's doesn't really add up

There is no point trying to second guess his motivation; after all we don't know him personally. It will be immaterial anyways if he ditches Zenithcoin for another. Even if he releases a 100% premined private coin, I will personally put up my miner to keep the network running. As I said, you can create a scrypt for for 0.3-0.4 BTC. You can even name this Zenithcoin if you want - nothing prevents it. Just don't make it THAT zenithcoin (whose ticker, ZTC, is also Zetacoin's ticker). There are a ton of pandacoins lying around and even two mastercoins.

In short, create a new scryptcoin, name it zenithcoin if you want or just Zenith, award a 50% or more premine. In effect Eddie will have the same result  without the bad press, and potentially awarding dubious devs like Solarcx/FrictionlessCoin (who will still have a stake from the remaining 50%).

Defenitely. If Frictionslesscoin owned a lot of BTS Music Shares he would try to pump it unsustainably and draw a lot of negative attention to BTS Music and III.

[bytemaster]

I will pass the feedback on to him


Sent from my iPhone using Tapatalk

[sumantso]

Eddie learned of this coin from an eBay listing and that is his only relation to them.

It's doesn't really add up

There is no point trying to second guess his motivation; after all we don't know him personally. It will be immaterial anyways if he ditches Zenithcoin for another. Even if he releases a 100% premined private coin, I will personally put up my miner to keep the network running. As I said, you can create a scrypt for for 0.3-0.4 BTC. You can even name this Zenithcoin if you want - nothing prevents it. Just don't make it THAT zenithcoin (whose ticker, ZTC, is also Zetacoin's ticker). There are a ton of pandacoins lying around and even two mastercoins.

In short, create a new scryptcoin, name it zenithcoin if you want or just Zenith, award a 50% or more premine. In effect Eddie will have the same result  without the bad press, and potentially awarding dubious devs like Solarcx/FrictionlessCoin (who will still have a stake from the remaining 50%).

[bitbro]

It's doesn't really add up


Sent from my iPhone using Tapatalk

[bytemaster]

Eddie learned of this coin from an eBay listing and that is his only relation to them. 


Sent from my iPhone using Tapatalk

[santaclause102]

Isnt it a security issue if one person own close to half of the coins as he controls half of the votes?

Eddie owns 50% of zenith coin, which will result in 25% of ZME and he will probably sell some of that to fund development.  So not really a security risk.

Ok. And finally, what is the relation of Eddie and Frictionlesscoin, which was the initial question... . Sorry for being anal but this will be exactly what a wider audience will ask...

[sumantso]

I am talking with Eddie about the history of ZenithCoin and whether its baggage is worth bringing on board.

Given its $10K marketcap (last I saw) I would gather it is better to consider the $10K sunk cost and adopt another option.   Ultimately this will be Eddies call and he is aware of the problem.

Our role in ZME is mostly consultant on the blockchain market side of the equation.  His role is marketing and user adoption.

Personally, I will be delighted if you can get him to leave this coin. Besides, its not $10k marketcap; its not on any exchanges and the network is dead.

Eddie can just start a new coin (you can get it done for a fraction of a Bitcoin) with a 50% premine. You mentioned in a separate post that Ed only has 50% Zenithcoins, which would mean those dubious devs (Solarcx/FrictionlessCoin) still holds a big chunk of it. 

[muse-umum]

Isnt it a security issue if one person own close to half of the coins as he controls half of the votes?

Eddie owns 50% of zenith coin, which will result in 25% of ZME and he will probably sell some of that to fund development.  So not really a security risk.

From the video we can see they have already made progress. Why not introduce more here ？

[bytemaster]

Isnt it a security issue if one person own close to half of the coins as he controls half of the votes?

Eddie owns 50% of zenith coin, which will result in 25% of ZME and he will probably sell some of that to fund development.  So not really a security risk.

[donkeypong]

He should keep Zenith Music if that works. It does sound cool. As for Zenithcoin, if he owns it all then I don't understand why he really needs that vehicle for his profit-sharing from the music venture. He probably doesn't need it, given his partnership now with Bitshares.

[luckybit]

No need to be upset just yet. The most likely is that Eddie simply bought it from FrictionlessCoin, thinking Zenith was a cool name, and not thinking too seriously about the reputation of the coin or its owner. Now that he doesn't need the coin anymore, he still feels attached to it, and so puts it work for a new purpose, as distributor.

If that's the case, then the only remaining question for Eddie and Cob is to consider if the name Zenith, the website domain, the distribution of the coin, and the reputation of the coin, sums up to outweigh effort into an alternative name, website domain, distribution mechanism, and consequent reputation.

Zenith is a bad ass name actually. He has to keep that name.
Just make Zenithcoin 2.0 and map it to the original. This way you can avoid the reputation.

Honestly no one but a few people will care about this issue. I didn't really know much about Zenithcoin and the sort of people who would use the Zenith exchange might not even know much about Bitcoin.

[luckybit]

It is once we as the jukebox, but Eddie is adding even more value than just a jukebox. 


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It seems Eddie is bringing the big music execs on board which is great. I think an additional chain should be tailored for independent artists.

So overall I think it's a brilliant idea and 50/50 is a great deal. How can people complain about 50/50?

[luckybit]

I take it back. I remembered Zenithcoin was extremely hated and by and large had a bad rep, so much so that nobody was even interested in the giveaways. The coin dev, Solarcx, was getting 50% of the mined ZTC which was a major sticking point (not to mention his extremely arrogant attitude). He had in the middle also tried using the coins as tokens for some BTC mining which didn't work out. https://bitcointalk.org/index.php?topic=219644.0

So I looked up in BTCtalk again and it seems that the coin was recently sold to 'FrictionlessCoin' which is probably Ed (or Ed hired FrictionlessCoin), who has a very bad standing in the community, and personally to me seemed like someone who has been trying to scam (he has been quite busy, including some fork of NXT and has raised quite a lot of money).

Since I don't have much idea about the business, and how hard it is to try to get somebody like Ed, I would strongly urge others to look into it. But I should add that if I was not invested in I3 earlier, I would have certainly steered cleared of I3 if I heard it was allying with ZTC/FC. Granted, the loss of my puny investments wouldn't have registered; but I am willing to bet lots of others would have the same feeling.

That coin is now under new management.  Not being a coin developer, Eddie's original strategy was to buy an abandoned worthless coin and rejuvenate it by backing it with the value of his ideas.  Then he met us.

Now we are using the power of the snapshot to move all of his capital into a better platform - bitshares!

We expect to rescue the holders of many other unprofitable platforms, maybe even Bitcoin, as more and more folks abandon mined coins for a profitable platform.

After the merging snapshot, all music will trade in bitshares, so what difference will the history of the ship that delivered the wealth to our ecosystem make?

This idea is brilliant. There are a lot of "dead" coins which can be revived.

[santaclause102]

Isnt it a security issue if one person own close to half of the coins as he controls half of the votes?

[bytemaster]

I am talking with Eddie about the history of ZenithCoin and whether its baggage is worth bringing on board.

Given its $10K marketcap (last I saw) I would gather it is better to consider the $10K sunk cost and adopt another option.   Ultimately this will be Eddies call and he is aware of the problem.

Our role in ZME is mostly consultant on the blockchain market side of the equation.  His role is marketing and user adoption. 

[angrywinds]

I think "Zenith Music Exchange" != "Bitshares Music".

Therefore,you've all been  angry  for nothing . Bitshares Music do not give 50% to zeit,just Zenith Music Exchange do .

so Bitshares Music is an empty shell ? what  has 3i done for the  "Bitshares Music"?

3i deliver the technique behind the new DAC

the technique? does Bitshares Music play the role of the toolkit?  Bitshares Music is a dac.

[santaclause102]

Btw, what share in Bitshares Music does cob (the backend developer, if I remember right) get?
 

[Stan]

I'm curious why Eddie's full name isn't used ?  It doesn't really fit with what I would expect from someone in the music promotion business.

People are just too lazy: Eddie Corral

From our March Newsletter:

Eddie Corral joins the partnership with 25 plus years in the music
business from recording to music publishing, concert promotions and
radio broadcast experience – Eddie has worked for the major label system
and has signed five acts to major label deals. Eddie is a current fifteen
year voting member of the recording academy NARAS – his experience
will help shape the future of how BitShares Music will engage the fan
directly with a recording artist of his/her choice. Eddie will be in charge
of securing contracts with artist and record labels to secure a smooth
transition into this new and exciting platform.

http://www.grammy.org/recording-academy

[santaclause102]

I'm curious why Eddie's full name isn't used ?  It doesn't really fit with what I would expect from someone in the music promotion business.

People are just too lazy: Eddie Corral

[gamey]

I'm curious why Eddie's full name isn't used ?  It doesn't really fit with what I would expect from someone in the music promotion business. 

[sumantso]

zenithcoin is listed as a Bitshares partner here http://bitshares.org/partners/

I had glanced through that earlier, but had mixed it up with zetacoin.

[vlight]

http://www.zenithmusic.com/

game over

[sumantso]

No need to be upset just yet. The most likely is that Eddie simply bought it from FrictionlessCoin, thinking Zenith was a cool name, and not thinking too seriously about the reputation of the coin or its owner. Now that he doesn't need the coin anymore, he still feels attached to it, and so puts it work for a new purpose, as distributor.

If that's the case, then the only remaining question for Eddie and Cob is to consider if the name Zenith, the website domain, the distribution of the coin, and the reputation of the coin, sums up to outweigh effort into an alternative name, website domain, distribution mechanism, and consequent reputation.

FrictionlessCoin is actively involved, as you can see from the BTCtalk thread.

Ed can just create his own scrypt coin for a fraction of a BTC with a, say, 90% premine and it will have better rep than this. ZTC network is dead anyways.

[donkeypong]

Eddie, say something about this, please.

He's in talks with major music labels. Did you see the video on Bitshares FB?

[CLains]

No need to be upset just yet. The most likely is that Eddie simply bought it from FrictionlessCoin, thinking Zenith was a cool name, and not thinking too seriously about the reputation of the coin or its owner. Now that he doesn't need the coin anymore, he still feels attached to it, and so puts it work for a new purpose, as distributor.

If that's the case, then the only remaining question for Eddie and Cob is to consider if the name Zenith, the website domain, the distribution of the coin, and the reputation of the coin, sums up to outweigh effort into an alternative name, website domain, distribution mechanism, and consequent reputation.

[muse-umum]

Eddie, say something about this, please.

[CalabiYau]

If every partner we bring here gets this kind of reception, how many fewer will we be able to sign?

y

I don't see any harsh comment, I only see the forum worrying and for good reason, I only see the forum trying to defend 3I interest and shareholder, this is very important. You guys are doing an amazing job and the community fully trust you no question. BUT when there are money involved the  scam artists are not far away. So sumantso and delulo are just raising a flag. You are human you could make mistakes and if we can help  prevent it in anyway will do it.
Nobody is saying that Eddie is Frictionlesscoin and probably he is not. First let make sure he really has that background experience that he's saying.

And there is absolutely no reason to be associated with Zenithcoin this has a very bad reputation. Better give him 50% and then he can do whatever he wants with his death zcoin. He can give the share to the Zenithcoin holders if he wants.
3I should do whatever it takes not to be even remotely associated with that coin  or scam artist like Frictionlesscoin. This is very serious please read Delulo post twice it covers all the dangers.

 

[ebit]

I have lots of PTS and AGS.
Thanks Eddie and cob.
I love you 

[cass]

I think "Zenith Music Exchange" != "Bitshares Music".

Therefore,you've all been  angry  for nothing . Bitshares Music do not give 50% to zeit,just Zenith Music Exchange do .

so Bitshares Music is an empty shell ? what  has 3i done for the  "Bitshares Music"?

3i deliver the technique behind the new DAC

[angrywinds]

I think "Zenith Music Exchange" != "Bitshares Music".

Therefore,you've all been  angry  for nothing . Bitshares Music do not give 50% to zeit,just Zenith Music Exchange do .

so Bitshares Music is an empty shell ? what  has 3i done for the  "Bitshares Music"?

[cass]

If every partner we bring here gets this kind of reception, how many fewer will we be able to sign?

y

I don't see any harsh comment, I only see the forum worrying and for good reason, I only see the forum trying to defend 3I interest and shareholder, this is very important. You guys are doing an amazing job and the community fully trust you no question. BUT when there are money involved the  scam artists are not far away. So sumantso and delulo are just raising a flag. You are human you could make mistakes and if we can help  prevent it in anyway will do it.
Nobody is saying that Eddie is Frictionlesscoin and probably he is not. First let make sure he really has that background experience that he's saying.

And there is absolutely no reason to be associated with Zenithcoin this has a very bad reputation. Better give him 50% and then he can do whatever he wants with his death zcoin. He can give the share to the Zenithcoin holders if he wants.
3I should do whatever it takes not to be even remotely associated with that coin  or scam artist like Frictionlesscoin. This is very serious please read Delulo post twice it covers all the dangers.

 

[Avant]

What delulo says is thoughtful. I don't know why III want to associate it with bad reputation coin. 50% of Bitshare Music can allocated to Eddys. Eddys use it do something else, I don't care. I really care III's reputation. As delulo says, can you give Eddys' resume or something else?

[angrywinds]

难以置信！！！music不是3i的dac吗？这个分配比例难道不是你们定的？你们居然做这样的决定，是想炒那个山寨币么，让支持者去买这个山寨币？无法理解这样做的目的是什么，如果3i自己想要，直接要走好了，如果是想推广，拿出一部分给比特币的持有者也是其他ptser,agser更愿意看到的结果。

[oco101]

If every partner we bring here gets this kind of reception, how many fewer will we be able to sign?

y

I don't see any harsh comment, I only see the forum worrying and for good reason, I only see the forum trying to defend 3I interest and shareholder, this is very important. You guys are doing an amazing job and the community fully trust you no question. BUT when there are money involved the  scam artists are not far away. So sumantso and delulo are just raising a flag. You are human you could make mistakes and if we can help  prevent it in anyway will do it.
Nobody is saying that Eddie is Frictionlesscoin and probably he is not. First let make sure he really has that background experience that he's saying.

And there is absolutely no reason to be associated with Zenithcoin this has a very bad reputation. Better give him 50% and then he can do whatever he wants with his death zcoin. He can give the share to the Zenithcoin holders if he wants.
3I should do whatever it takes not to be even remotely associated with that coin  or scam artist like Frictionlesscoin. This is very serious please read Delulo post twice it covers all the dangers.


 

[santaclause102]

Frictionlesscoin seems to have been at the New York conference: https://bitcointalk.org/index.php?topic=422052.msg6118285#msg6118285

[santaclause102]

Here is what I know about Frictionlesscoin.

First he spammed the "NXT source code flaw reports" thread https://bitcointalk.org/index.php?topic=397183.80  Over several pages he makes every third comment or so, trying to bring down NXT and probably the NXT price. No flaw has been found afaik. He was completely distructive and not interested in helping to find flaws!
See one of my posts here. https://bitcointalk.org/index.php?topic=397214.msg4384989#msg4384989

Here is one of his endeavours that followed:
[ANN] NEX :: Nxt Reimagined - Industrial Strength - Imagine Fairness! https://bitcointalk.org/index.php?topic=422052.0
A pointless NXT fork...

He also launched iXcoin in 2011 which went nowhere really.

So to me it looks like he is running around in the crypto space trying to make money in whatever way possible.

Leaving his intentions aside, people will lose trust in I3 when they see Zenithcoin and/or Frictionlesscoin cooperating with III. Everyone in the altcoin community knows Frictionlesscoin, especially those involved in 2.0 projects. III has so many great projects that would be hurt by this. The market peg in BTS X depends on a self reinforcing assumption among speculators. If I3's reputation is damaged there might be enough scepticism to call BTS X a scam as well (other than calling it an experiment).

Please don't make the mistake to arrogantly assume "we don't need the Bitcointalk community. They are all just dumb miners". Bitcointalk and Reddit shape the opinion of many (it is the community), also of those that report to coindesk and mainstream media. 

Also when BTS Music is the future why not get something like Sony Music or a record label two sizes smaller than Sony I googled Eddys Name and found nothing, not a website, nothing. 

When I invest a major indicator for success/failure are the people behind a project . You have to invest in intelligence and character/honesty.

I would also like to remind you that this is a dangerous cocktail in combination with old (pointless; doesn't matter though, a negative opinion is formed fast) scam accusations about Invictus https://bitcointalk.org/index.php?topic=279771.0;all plus aversions from the Ethereum community: Originated here: https://bitcointalk.org/index.php?topic=325425.msg4297669#msg4297669

I am bullish on III but all those social things can be a serious stumbling block for the whole project. I wrote about this with respect to professional business conduct here: https://bitsharestalk.org/index.php?topic=4059.msg50857#msg50857

If Invictus fails then not due to insufficient software engineering but because of no worty connections / questionable reputation.

I can not do more than to urge you to take this serious. The first DACs / 3rd Parties will be crucial and should be text book examples! This will shape the impression of I3 far more than if by accident someone fishy came on board in a few years...

Eddie IS this business.

People talk a lot. What evidence did he give you for that? Due diligence is your responsibility. Better be sceptic and ask a lot of dumb questions! Don't trust people if there is no reason to. For the most part there is great continuance in people's behaviour. Frictionlesscoin hasn't yet produced anything valueable to people but a lot of hot air. My experience tells me that people's future performance for the most part mirrors their past performance. Also with all his past endeavours he convinced people successfully... I AM JUST OBSERVING.   

And there is the incentive issue: 

And what does he bring to the table? In particular what securities? He could just sell 90% of his shares if the shoot up (not expected if people on BTT see Frictionslesscoin is behind it; he really has a horrible standing). If he is brought in to make the deals with musicians the right incentives would be to pay him per deal he makes. This way is a horribly flawed incentive structure!

DON GET ME WRONG: I AM JUST TRYING TO PREVENT SOME UNNECESSARY DAMAGE. And we are sitting in the same boot.

Edit: https://bitcointalk.org/index.php?topic=422309.msg4639088#msg4639088

[voldemort628]

guys guys,

lets all calm down and please refrain yourself from making any comments on the *issue* , just yet.

@Stan: please make a formal detailed announcement of Bitshares Music again in another thread,

so let's all wait for the full picture and complete set of information about this first.
jumping to conclusion too quickly is not a good thing

[Empirical1]

Eddie is not any coin.  He has been a member of the Academy of Music for over a decade.  He has access to all the big record labels.  He can put together deals that compete with iTunes.  He has and can sign artists.  It is he who will supply the stream of new talent for people to trade.

Eddie IS this business.

...and he gave us half.

That part sounds amazing! Looking forward to seeing more of the details and hearing his NYC presentation!

Hopefully he isn't associated with any of the other stuff/people.

After the merging snapshot, all music will trade in bitshares, so what difference will the history of the ship that delivered the wealth to our ecosystem make?

That DOES make a difference!

   I have to agree with Delulo though, history/provenance of the ship is pretty important. Also as this is one of the first DAC's, the history of the partner/coins incorporated could also have a big influence on the brand image or public perception of Bitshares as a whole.

The quality of provenance... can make a considerable difference to its selling price in the market; this is affected by the degree of certainty of the provenance, the status of past owners as collectors, and in many cases by the strength of evidence that an object has not been illegally excavated or exported...

http://en.wikipedia.org/wiki/Provenance

[sumantso]

Worry about your investment!

Exactly what I am doing. I invested because I was awestruck by the ideas, mainly Bitshares X. I wouldn't like all of them to suffer from bad reputation due to being associated with some dubious stuff.

[Stan]

Dear I3

Next time you announce a DAC, please include all the details, so developer and entrepreneurs don't get attacked right out of the gates like Zenith Music just did...

Dear forum,

Please hold your fire until you have all the details.

This was a quick press release from a tired team on a seven hour train ride.

 

Sorry, if I came across as bashing you. I was simply stunned when I remembered what Zenithcoin was. If you check back this thread, my first post was congratulating you.

I am worried about getting scammed and potential to be associated with people of dubious rep. I don't care that much about allocation. I am very uncomfortable of being associated with it, but I realise I am being biased here so would like to see what the community has to say.

Don't worry about me.  It's my job to take it.

Worry about your investment! 

If every partner we bring here gets this kind of reception, how many fewer will we be able to sign?

[bytemaster]

I will get the info for all. This is a very important issue c


Sent from my iPhone using Tapatalk

[sumantso]

I mean we will identify the parties and make sure there is no connection to known bad actors aside from eddies purchase. 

The other actors are Solarcx and FrictionlessCoin (and maybe a few more sockpuppets). There is a good chance that all of them (including Eddie) are the same person who has been trying to make money on some dubious schemes. Identifying would also involve revealing (at least to you) who FrictionlessCoin and Solarcx is/are.

[donkeypong]

Thumbs up! I am flat out stoked about Bitshares Music. Off to buy some more PTS...

[Stan]

Eddie is not any coin.  He has been a voting member of the Academy of Music for over a decade.  He has access to all the big record labels.  He can put together deals that compete with iTunes.  He has and can sign artists.  It is he who will supply the stream of new talent for people to trade.

Eddie IS this business.

...and he gave us half.

[bytemaster]

I mean we will identify the parties and make sure there is no connection to known bad actors aside from eddies purchase. 


Sent from my iPhone using Tapatalk

[santaclause102]

Eddie has not said anything about being frictionless coin. 

I will have Eddie make a statement and clear the history.  I certainly don't want anyone being scammed. 


Sent from my iPhone using Tapatalk

There is no hard line between being scammed or not. The most successful scams involve something useful otherwise people would not buy into it...

[bytemaster]

Eddie has not said anything about being frictionless coin. 

I will have Eddie make a statement and clear the history.  I certainly don't want anyone being scammed. 


Sent from my iPhone using Tapatalk

[santaclause102]

Have to disagree on the following two:

We expect to rescue the holders of many other unprofitable platforms, maybe even Bitcoin, as more and more folks abandon mined coins for a profitable platform.

Rescuing people that did bad investments is not a business model!!

After the merging snapshot, all music will trade in bitshares, so what difference will the history of the ship that delivered the wealth to our ecosystem make?

That DOES make a difference! If Eddie controls almost 50% of BTS Music then this looks to me like like a security issue because he then has close to 50% of the voting power... Even if it were only 10% it would seem troublesome to me.

And FULL transparency is needed here: Is Eddy Frictionlesscoin?
Why would he want to buy up a dead coin? Why not just make a own Bitcoin/Scrypt fork and premine 90% if that is the goal?

Please clarify

[sumantso]

Dear I3

Next time you announce a DAC, please include all the details, so developer and entrepreneurs don't get attacked right out of the gates like Zenith Music just did...

Dear forum,

Please hold your fire until you have all the details.

This was a quick press release from a tired team on a seven hour train ride.

 

Sorry, if I came across as bashing you. I was simply stunned when I remembered what Zenithcoin was. If you check back this thread, my first post was congratulating you.

I am worried about getting scammed and potential to be associated with people of dubious rep. I don't care that much about allocation. I am very uncomfortable of being associated with it, but I realise I am being biased here so would like to see what the community has to say.

[bytemaster]

It is once we as the jukebox, but Eddie is adding even more value than just a jukebox. 


Sent from my iPhone using Tapatalk

[sumantso]

That wouldn't be liquid.

We are just working to develop bts me and support integration with his site.

Please elaborate. I was under the impression that BTS Music was a separate class of DACs.

[Stan]

Dear I3

Next time you announce a DAC, please include all the details, so developer and entrepreneurs don't get attacked right out of the gates like Zenith Music just did...

Dear forum,

Please hold your fire until you have all the details.

This was a quick press release from a tired team on a seven hour train ride.

 

[EntSki]

Dear I3

Next time you announce a DAC, please include all the details, so developer and entrepreneurs don't get attacked right out of the gates like Zenith Music just did...

[bytemaster]

Eddie owns a large share of zcoin. and is personally funding the website that will add tremendous value to the chain.  Forking it will not gain recognition from his website. 

So give him the equivalent BTS Music directly and bypass this coin with a bad rep. This will also keep it transparent.

That wouldn't be liquid.  All coins owned by the original dev are now his.   The other coins are mined and randomly distributed. 

This is his baby and Eddie is free to allocate his shares as he likes.    We are just working to develop bts me and support integration with his site.


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[santaclause102]

And what does he bring to the table? In particular what securities? He could just sell 90% of his shares if the shoot up (not expected if people on BTT see Frictionslesscoin is behind it; he really has a horrible standing). If he is brought in to make the deals with musicians the right incentives would be to pay him per deal he makes. This way the is a horribly flawed incentive structure!

[EntSki]

well if he's funding it mostly by himself, how could i not support the equity split?!

[sumantso]

Eddie owns a large share of zcoin. and is personally funding the website that will add tremendous value to the chain.  Forking it will not gain recognition from his website. 

So give him the equivalent BTS Music directly and bypass this coin with a bad rep. This will also keep it transparent.

[bytemaster]

Eddie owns a large share of zcoin. and is personally funding the website that will add tremendous value to the chain.  Forking it will not gain recognition from his website. 

It will be based on bts me so not a lot of ags/pts. 

Eddie only bought zenith coin one month ago.  So he is repurposing an alt coin to minimize regulatory risk with a more direct fund raiser. 

It would be nice if the coin had a better background.  Eddie is very new to the crypto space, but very experienced in the music space.




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[cass]

Now we are using the power of the snapshot to move all of his capital into a better platform - bitshares!

See my last post. Its quite possible he owns almost ALL the coins. In effect you are awarding him almost 50% of the DAC.

Of course he picked up ZTC, since he gets a coin in which almost the entire supply is concentrated.

Isn't this what we might expect from any DAC? The Social Contract asks for 10% + 10% at minimum, right? If a DAC developer/investor wants to own the other 80%, that certainly is his or her right.  This one's giving us 25% + 25%, taking only 50%.

true

[bytemaster]

Eddie owns a large share of zcoin. and is personally funding the website that will add tremendous value to the chain.  Forking it will not gain recognition from his website. 

It will be based on bts me so not a lot of ags/pts. 

Eddie only bought zenith coin one month ago.  So he is repurposing an alt coin to minimize regulatory risk with a more direct fund raiser. 

It would be nice if the coin had a better background.  Eddie is very new to the crypto space, but very experienced in the music space.




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[donkeypong]

Why would he want to buy up a dead coin?

Have you heard of reverse mergers? That's where a company that wants to become publicly traded "merges" with a dying company to use their already-approved shell on an exchange. Same thing here, I imagine, where this gentleman did not want to trouble himself with starting a new coin from scratch.

[santaclause102]

Have to disagree on the following two:

We expect to rescue the holders of many other unprofitable platforms, maybe even Bitcoin, as more and more folks abandon mined coins for a profitable platform.

Rescuing people that did bad investments is not a business model!!

After the merging snapshot, all music will trade in bitshares, so what difference will the history of the ship that delivered the wealth to our ecosystem make?

That DOES make a difference! If Eddie controls almost 50% of BTS Music then this looks to me like like a security issue because he then has close to 50% of the voting power... Even if it were only 10% it would seem troublesome to me.

And FULL transparency is needed here: Is Eddy Frictionlesscoin?
Why would he want to buy up a dead coin? Why not just make a own Bitcoin/Scrypt fork and premine 90% if that is the goal?

[sumantso]

Now we are using the power of the snapshot to move all of his capital into a better platform - bitshares!

See my last post. Its quite possible he owns almost ALL the coins. In effect you are awarding him almost 50% of the DAC.

Of course he picked up ZTC, since he gets a coin in which almost the entire supply is concentrated.

Isn't this what we might expect from any DAC? The Social Contract asks for 10% + 10% at minimum, right? If a DAC developer/investor wants to own the other 80%, that certainly is his or her right.

Not if it is I3 funded.

[donkeypong]

Now we are using the power of the snapshot to move all of his capital into a better platform - bitshares!

See my last post. Its quite possible he owns almost ALL the coins. In effect you are awarding him almost 50% of the DAC.

Of course he picked up ZTC, since he gets a coin in which almost the entire supply is concentrated.

Isn't this what we might expect from any DAC? The Social Contract asks for 10% + 10% at minimum, right? If a DAC developer/investor wants to own the other 80%, that certainly is his or her right.  This one's giving us 25% + 25%, taking only 50%.

[sumantso]

If you really want to give him 50%, why not just award him 50% of BTS Music? That will avoid the PR disaster.

ZTC is not just some abandoned coin. It is something which is almost wholly owned by a single individual (and has links with some dubious users from BTCtalk).

[donkeypong]

Sounds great. What do you mean by "merging snapshot"?

[sumantso]

Now we are using the power of the snapshot to move all of his capital into a better platform - bitshares!

See my last post. Its quite possible he owns almost ALL the coins. In effect you are awarding him almost 50% of the DAC.

Of course he picked up ZTC, since he gets a coin in which almost the entire supply is concentrated.

[Stan]

I take it back. I remembered Zenithcoin was extremely hated and by and large had a bad rep, so much so that nobody was even interested in the giveaways. The coin dev, Solarcx, was getting 50% of the mined ZTC which was a major sticking point (not to mention his extremely arrogant attitude). He had in the middle also tried using the coins as tokens for some BTC mining which didn't work out. https://bitcointalk.org/index.php?topic=219644.0

So I looked up in BTCtalk again and it seems that the coin was recently sold to 'FrictionlessCoin' which is probably Ed (or Ed hired FrictionlessCoin), who has a very bad standing in the community, and personally to me seemed like someone who has been trying to scam (he has been quite busy, including some fork of NXT and has raised quite a lot of money).

Since I don't have much idea about the business, and how hard it is to try to get somebody like Ed, I would strongly urge others to look into it. But I should add that if I was not invested in I3 earlier, I would have certainly steered cleared of I3 if I heard it was allying with ZTC/FC. Granted, the loss of my puny investments wouldn't have registered; but I am willing to bet lots of others would have the same feeling.

That coin is now under new management.  Not being a coin developer, Eddie's original strategy was to buy an abandoned worthless coin and rejuvenate it by backing it with the value of his ideas.  Then he met us.

Now we are using the power of the snapshot to move all of his capital into a better platform - bitshares!

We expect to rescue the holders of many other unprofitable platforms, maybe even Bitcoin, as more and more folks abandon mined coins for a profitable platform.

After the merging snapshot, all music will trade in bitshares, so what difference will the history of the ship that delivered the wealth to our ecosystem make?

[EntSki]

Yeah, we'll have to fork this immediately and start over.

[sumantso]

Also, I would like to add that I was there when the initial ZTC was launched (you may even find my posts in the old thread). Since it was by and large shunned by the community (Magnet and co actually ran with the original chain so that 2 ZTCs were existing at some point), only Solarcx kept mining for months. That and add to that anybody mining was giving back half to the dev meant that Solarcx had almost the entire coin supply. I wouldn't be surprised if more than 90% is in Solarcx's hand (or the new owner if that is indeed true). Giving 50% to such a distribution would be very dangerous, not to mention a PR disaster (see NXT and its distro, where 73 people participated in the IPO).

I can see why ZTC would be tempting for somebody to release something like this as you have almost the coin supply in your hands.

[EntSki]

All this said,  the video and demo thats on BitShares FB makes this look very[/i promising.

[sumantso]

i'm a litte bit confused! Is this same Eddie form Zenithcoin etc.?

Sounds like it. https://bitcointalk.org/index.php?topic=219644.msg5551451#msg5551451

Solarcx's trust rating https://bitcointalk.org/index.php?action=trust;u=87434

Failed to deliver on the promises made with regards to the 1000 ghash promotion.

https://bitcointalk.org/index.php?topic=295724.0

https://bitcointalk.org/index.php?topic=401132.msg4357501#msg4357501

His offer to compensate me for my time and hashpower was downright insulting.

https://bitcointalk.org/index.php?topic=401132.msg4372634#msg4372634

solracx = Carlos Perez, aka FrictionlessCoin

https://bitcointalk.org/index.php?topic=424724.msg4680994#msg4680994

FrictionlessCoin's trust rating https://bitcointalk.org/index.php?action=trust;u=127521

Some gems from there
I highly suspect he is a sockpuppet IPO scam artist. Claims his real name is Carlos Perez.
Both FC and solracx refuse to answer why solracx is apparently usuing his email.

NEX main thread --> https://bitcointalk.org/index.php?topic=422052.0
NEX - NXT IPO thread #2 --> https://bitcointalk.org/index.php?topic=424724.0
NEX - NXT IPO (moderated) thread #3 --> https://bitcointalk.org/index.php?topic=429399

Level Coin IPO --> https://bitcointalk.org/index.php?topic=422309.0


IPO SCAMMER. Cloned NextCoin 1:1, then asks for BTC/NXT to sell this coin in order to obtain NXT. Creates hundreds of accounts to push his thread for fake interest. WARNING!

[EntSki]

We should really reach out to Sean Parker on this one.

[cass]

We can't really fund them fully then, Stan.  50 % of what they need is all we can give them for this to be equitable.  We'll need to see the numbers.

?

[EntSki]

We can't really fund them fully then, Stan.  50 % of what they need is all we can give them for this to be equitable.  We'll need to see the numbers.

[cass]

Newsletter March 14

Eddie Corral joins the partnership with 25 plus years in the music
business from recording to music publishing, concert promotions and
radio broadcast experience – Eddie has worked for the major label system
and has signed five acts to major label deals. Eddie is a current fifteen
year voting member of the recording academy NARAS – his experience
will help shape the future of how BitShares Music will engage the fan
directly with a recording artist of his/her choice. Eddie will be in charge
of securing contracts with artist and record labels to secure a smooth
transition into this new and exciting platform.

i'm a litte bit confused! Is this same Eddie form Zenithcoin etc.?

[sumantso]

I take it back. I remembered Zenithcoin was extremely hated and by and large had a bad rep, so much so that nobody was even interested in the giveaways. The coin dev, Solarcx, was getting 50% of the mined ZTC which was a major sticking point (not to mention his extremely arrogant attitude). He had in the middle also tried using the coins as tokens for some BTC mining which didn't work out. https://bitcointalk.org/index.php?topic=219644.0

So I looked up in BTCtalk again and it seems that the coin was recently sold to 'FrictionlessCoin' which is probably Ed (or Ed hired FrictionlessCoin), who has a very bad standing in the community, and personally to me seemed like someone who has been trying to scam (he has been quite busy, including some fork of NXT and has raised quite a lot of money).

Since I don't have much idea about the business, and how hard it is to try to get somebody like Ed, I would strongly urge others to look into it. But I should add that if I was not invested in I3 earlier, I would have certainly steered cleared of I3 if I heard it was allying with ZTC/FC. Granted, the loss of my puny investments wouldn't have registered; but I am willing to bet lots of others would have the same feeling.

[sumantso]

Nice one.

Will they be getting similar funding from the other coin?

[Stan]

Eddie and cob announced their groundbreaking entry into the Bitshares Music family in New York today

We will have video of their presentation for you in a day or three.

He split his shares with Bitshares  50/50 which gets you

25% PTS
25% AGS

The other half honors the coin he had planned to use before meeting us in Texas - Zenithcoin