Author Topic: Is bitshares music about creating artificial scarcity ?  (Read 9059 times)

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Offline Empirical1

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Side music question: do you think shareholders will get screwed by pump and dump schemes in BTS music?  Or will there be great benefit to 'hold' songs long term?


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A song will have a very short product life cycle. It's price should reflect where it is in that life-cycle so not really pump & dump.



Imagine if youtube had a value system to rank how good videos are and whenever you watched a video you could say if it is crappy and ranked too high or if it is a great video that people will really like and is ranked too low.  And then if you predict correctly and a video that you "upvote" becomes more popular or a video that you "downvote" continues to be less popular and is downvoted by others, then you get paid.  If you pump a crappy video, others will watch it and get pissed off for having their time wasted and downvote it and then you lose money because you bet on a losing horse.

I think the model is something along those lines.

Some Youtube videos generate $ thousands of ad revenue. I think it would be nice if a publisher could sell shares in their videos so you can get a % of their ad revenue.

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I still think the big money will be made from people who partner with existing big record labels, which is not particularly positive for humanity but potentially very profitable $$$$ https://bitsharestalk.org/index.php?topic=4017.0


Offline Agent86

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Imagine if youtube had a value system to rank how good videos are and whenever you watched a video you could say if it is crappy and ranked too high or if it is a great video that people will really like and is ranked too low.  And then if you predict correctly and a video that you "upvote" becomes more popular or a video that you "downvote" continues to be less popular and is downvoted by others, then you get paid.  If you pump a crappy video, others will watch it and get pissed off for having their time wasted and downvote it and then you lose money because you bet on a losing horse.

I think the model is something along those lines.

Offline toast

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Musicians will pay back shareholders who supported them from deals where it is "less unethical" to create scarcity, like selling it to a company to use in a commercial. Or give signed T-shirts to the top 500 donors like to kickstart an album.
This is the sustainable route. Same stuff as nowadays only the middleman's cut is minimized instead of maximized at every point. Of course musicians will try to pump, that's why it'll be fun.

BTW, I have no idea if this is actually what the Music guys are doing. I'm interested if they thought of something other than selling songs for cases when you can only obtain radio streaming license on music in the short term.
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Offline Agent86

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To be honest, I haven't yet taken the time fully understand the incentive structure of BitShares Music; I do think the bitshares music and bitshares insurance DACs are somewhat complex and not immediately as intuitive as something like a bitshares Lotto.

Although the data that makes up a music file is not any more scarce than storing and transmitting any other data and can easily be copied, the time and attention of the listener is scarce.

My understanding is that you are rewarding or paying people who are able to bring good music to the attention of the listener who will enjoy it.  Essentially you will pay me money if I am great at bringing great music to your attention so you don't have to wade through a bunch of crap because your time and attention is valuable to you.

I don't think the goal is to restrict access to the music like most systems such as itunes do today.

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Side music question: do you think shareholders will get screwed by pump and dump schemes in BTS music?  Or will there be great benefit to 'hold' songs long term?


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Offline Empirical1

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If we look beyond music,

Even the best media (eg. blockbuster movies) need adverts, posters, trailers & press interviews so that the average 'man in the street' knows they exist.
Right now only big companies (& their shareholders) have the funding & are incentivized to do this. As a result, most of humanity is living in a world where the main information they receive is mostly propaganda controlled by a few rich entities and truth is often relegated to the fringe.

I believe these kind of platforms, that Bitshares is pioneering, can level the playing field, helping communities reward & promote the truthtellers, potentially giving the best of them the funding and reach to have voices loud enough to compete with the MSM & thereby also reach the ears of the average 'man in the street' too.

What kind of a positive effect could that eventually have on humanity?

Offline Empirical1

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There is not really artificial scarcity as media on the internet can be easily copied and pirated.

I believe the main Bitshares Music DAC is based on the idea that fans want to support & fairly reward their favourite artists for their work but currently it is too expensive (Eg. Itunes) to pay for all the media we consume.
However this DAC goes beyond just introducing micro-payments to the space, but also rewards fans for helping to promote artists and performers - not just big record labels.

As a result, many, many more artists & unique voices, especially with small fan bases and in poorer countries will be supported, encouraged  & promoted which I personally think will make humanity more rich and diverse.

Offline toast

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We need to be carefull with innovation and technological development. They both are not neutral.
We need to analyze if these innovations are good for society. Where do we want to go?
Which kind of consequences are gonna have these developments?


I think bitshares music promote scarcity and as consequence its very bad for the interest of humanity.

You still haven't explained your point and you're assuming bitshares music works by selling copies of songs. Please do a more thorough argument because I still disagree.
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Offline donkeypong

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I disagree with the thinker who said that. Doesn't make any sense unless you're looking at a larger economic system or industry. You may want to take a basic Economics course.

When I think of artificial scarcity, something like DeBeers diamonds come to mind. They have such a monopoly over a glassy rock (which is not all that uncommon, just occurring in certain pockets they have control over). Diamonds should be worth peanuts, but that company instead has created artificial scarcity and marketed diamonds as being rare.

Bitshares Music will fill a niche that no one has touched yet. In this way, maybe it will make things a little LESS scarce (more accessible). Did you think iTunes was creating artificial scarcity? Far from it; I think iTunes opened up a simpler/cheaper access to music that wasn't there previously. And Apple made money through that disruptive business model. That's what we have here also; there is no scarcity being created with the DACs, only broader access to opportunities. That can be profitable and noble at the same time.

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Tipon you are the next bytemaster!


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Offline tipon

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We need to be carefull with innovation and technological development. They both are not neutral.
We need to analyze if these innovations are good for society. Where do we want to go?
Which kind of consequences are gonna have these developments?


I think bitshares music promote scarcity and as consequence its very bad for the interest of humanity.

Offline toast

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In order to sell you need to limitate the access to the music.
Bitshare music is based on a mechanism that limitates the number of copies that can be made.

Its creating artificial scarcity!


I have no idea how bitshares music is encouraging scarcity, to the contrary I think the idea is that it frees artists to let their fans copy and share music ss much ss possible

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But the whole point is that it's not! Unless I misunderstood their business model... that's why it is so innovative

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Offline tipon

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In order to sell you need to limitate the access to the music.
Bitshare music is based on a mechanism that limitates the number of copies that can be made.

Its creating artificial scarcity!


I have no idea how bitshares music is encouraging scarcity, to the contrary I think the idea is that it frees artists to let their fans copy and share music ss much ss possible

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Offline tipon

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http://p2pfoundation.net/Abundance_Logic


"Urrutia says that many companies are trying to create artificial scarcity..."

Who or what is an "Urrutia"?

Offline toast

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I have no idea how bitshares music is encouraging scarcity, to the contrary I think the idea is that it frees artists to let their fans copy and share music ss much ss possible

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Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.