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Quote from: Stan on April 09, 2014, 11:48:07 pmEddie 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.
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.
Please read Cob's more recent update thread. They are not using Zenithcoin at all anymore. Put this thread to a rest, please.
Quote from: bytemaster on April 12, 2014, 03:36:21 pmEddie learned of this coin from an eBay listing and that is his only relation to them.Quote from: bitbro on April 12, 2014, 03:42:55 pmIt's doesn't really add upThere 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%).
Eddie learned of this coin from an eBay listing and that is his only relation to them.
It's doesn't really add up
Quote from: delulo on April 12, 2014, 02:27:39 amIsnt 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.
Isnt it a security issue if one person own close to half of the coins as he controls half of the votes?
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.
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.
It is once we as the jukebox, but Eddie is adding even more value than just a jukebox. Sent from my iPhone using Tapatalk
Quote from: sumantso on April 09, 2014, 10:19:32 pmI 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=219644.0So 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?
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=219644.0So 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.
Quote from: angrywinds on April 10, 2014, 06:05:49 amQuote from: tbkmcjl on April 10, 2014, 05:24:47 amI 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
Quote from: tbkmcjl on April 10, 2014, 05:24:47 amI 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"?
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 .
Quote from: gamey on April 10, 2014, 07:26:43 pmI'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
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.
Eddie Corral joins the partnership with 25 plus years in the musicbusiness from recording to music publishing, concert promotions andradio broadcast experience – Eddie has worked for the major label systemand has signed five acts to major label deals. Eddie is a current fifteenyear voting member of the recording academy NARAS – his experiencewill help shape the future of how BitShares Music will engage the fandirectly with a recording artist of his/her choice. Eddie will be in chargeof securing contracts with artist and record labels to secure a smoothtransition into this new and exciting platform.
Eddie, say something about this, please.
Quote from: oco101 on April 10, 2014, 03:36:32 amQuoteIf 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.
QuoteIf 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.
If every partner we bring here gets this kind of reception, how many fewer will we be able to sign?
Eddie IS this business.
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!
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.
Quote from: delulo on April 09, 2014, 11:05:08 pmQuoteAfter 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!
QuoteAfter 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!
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?
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...
Worry about your investment!
Quote from: Stan on April 09, 2014, 11:21:27 pmQuote from: EntSki on April 09, 2014, 11:17:02 pmDear I3Next 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.
Quote from: EntSki on April 09, 2014, 11:17:02 pmDear I3Next 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.
Dear I3Next 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...
I mean we will identify the parties and make sure there is no connection to known bad actors aside from eddies purchase.
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
Have to disagree on the following two: QuoteWe 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!!QuoteAfter 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?
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.
That wouldn't be liquid.We are just working to develop bts me and support integration with his site.
Quote from: bytemaster on April 09, 2014, 11:08:21 pmEddie 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.
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.
Quote from: sumantso on April 09, 2014, 10:59:56 pmQuote from: Stan on April 09, 2014, 10:55:04 pmNow 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%.
Quote from: Stan on April 09, 2014, 10:55:04 pmNow 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.
Now we are using the power of the snapshot to move all of his capital into a better platform - bitshares!
Why would he want to buy up a dead coin?
Quote from: sumantso on April 09, 2014, 10:59:56 pmQuote from: Stan on April 09, 2014, 10:55:04 pmNow 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.
i'm a litte bit confused! Is this same Eddie form Zenithcoin etc.?
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.