BitShares Forum
Other => Graveyard => Muse/SoundDAC => Topic started by: cob on October 06, 2014, 12:16:57 am
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Alright people!
We are live.
http://bitsharesmusicfoundation.org
This will be announced officially in Vegas tomorrow. We start the online campaign Wednesday. So you might have a couple days of cheap Notes.
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Great news cob!
BTW a guy sent fund to the presale address before it begins. Can he be counted as 1st day donation, or should he be refunded. His address is different from sent address because he did it on exchange.
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Is there an explorer page where we can see the daily donations?
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Congrats +5%
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+5%
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great news +5% +5% +5% +5%
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+5%
Look for auction statistic online here:
http://www1.agsexplorer.com
Please add this link to description at http://www.bitsharesmusicfoundation.org
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I tried to send using kryptokit wallet and I got "Malformed address!" message.
Any standard btc address?
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Good news~
I'll support and donate some BTC
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I tried to send using kryptokit wallet and I got "Malformed address!" message.
Any standard btc address?
I think some wallets are not set up for BTC addresses starting with a # other than 1. Just to check it, I donated a small amount from a Blockchain.info wallet which worked. I'm not a big fan of online wallets, but I found it fairly simple to import the keys from Blockchain into BTSX, so I thought I'd use that one again.
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I tried to send using kryptokit wallet and I got "Malformed address!" message.
Any standard btc address?
I think some wallets are not set up for BTC addresses starting with a # other than 1. Just to check it, I donated a small amount from a Blockchain.info wallet which worked. I'm not a big fan of online wallets, but I found it fairly simple to import the keys from Blockchain into BTSX, so I thought I'd use that one again.
True, I used electrum instead.
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I rarely point out typos but there's one right on the introduction, second sentence begins "It’s unit" and obviously should be Its.
Also, I Note that the title suggests the wrong domain <title>BitSharesMusic.org</title>
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So no bitUSD option... :(
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I tried to send using kryptokit wallet and I got "Malformed address!" message.
Any standard btc address?
I think some wallets are not set up for BTC addresses starting with a # other than 1. Just to check it, I donated a small amount from a Blockchain.info wallet which worked. I'm not a big fan of online wallets, but I found it fairly simple to import the keys from Blockchain into BTSX, so I thought I'd use that one again.
Good point. However, most wallets support multisig addresses today. Considering the sum we want to raise we need a highly secure setup.
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Is it possible to see how many BTC have been donated today? Otherwise it is difficult to predict whether a donation makes sense today...
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Is it possible to see how many BTC have been donated today? Otherwise it is difficult to predict whether a donation makes sense today...
http://www1.agsexplorer.com
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Is it possible to see how many BTC have been donated today? Otherwise it is difficult to predict whether a donation makes sense today...
http://www1.agsexplorer.com
I should have said: ...how many BTC where donated today and the last days (history / chart)? The chart at the bottom is not up to date. I dont see an other chart. What can be done is multiply today's donated BTC by the number of days and compare to the total amount of donated BTC here https://blockchain.info/address/37X8DHpfiimB7PU5y35rfBcg5Vxj2R6umL This gives an overview how today's donations compare to an average day.
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Is it possible to see how many BTC have been donated today? Otherwise it is difficult to predict whether a donation makes sense today...
http://www1.agsexplorer.com
I should have said: ...how many BTC where donated today and the last days (history / chart)? The chart at the bottom is not up to date. I dont see an other chart. What can be done is multiply today's donated BTC by the number of days and compare to the total amount of donated BTC here https://blockchain.info/address/37X8DHpfiimB7PU5y35rfBcg5Vxj2R6umL This gives an overview how today's donations compare to an average day.
Donated Today / Average 26.51834932 BTC / 26.3805676 BTC [?]
NOTICE: Charts and address-based pre-sale lookup features will be online shortly.
Probably chart for BitShares Music will come very soon. Chart at bottom - it's for AGS donation.
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Probably chart for BitShares Music will come very soon.
+5%
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If I sent bitcoin to MUSIC IPO by a address which has AGS already, will there be confusion when I importing my bitcoin private key into my BitShares Music wallet ? I mean this address has two part of Note.
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If I sent bitcoin to MUSIC IPO by a address which has AGS already, will there be confusion when I importing my bitcoin private key into my BitShares Music wallet ? I mean this address has two part of Note.
Do you mean you have used this address before to donate to the original BTSX AGS round? If so, the Bitshares Music blockchain is entirely separate, so importing your private keys won't be an issue.
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Do you mean you have used this address before to donate to the original BTSX AGS round? If so, the Bitshares Music blockchain is entirely separate, so importing your private keys won't be an issue.
He wants to make sure that the script that generates the genesis block is capable of combining stake from AGS and new PTS donations .. And I'd say it better be .. we should have a public script to do this ASAP!
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If I sent bitcoin to MUSIC IPO by a address which has AGS already, will there be confusion when I importing my bitcoin private key into my BitShares Music wallet ? I mean this address has two part of Note.
Do you mean you have used this address before to donate to the original BTSX AGS round? If so, the Bitshares Music blockchain is entirely separate, so importing your private keys won't be an issue.
So when I import my key, I will receive these two part Note at the same time?
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Is it possible to see how many BTC have been donated today? Otherwise it is difficult to predict whether a donation makes sense today...
http://www1.agsexplorer.com
I should have said: ...how many BTC where donated today and the last days (history / chart)? The chart at the bottom is not up to date. I dont see an other chart. What can be done is multiply today's donated BTC by the number of days and compare to the total amount of donated BTC here https://blockchain.info/address/37X8DHpfiimB7PU5y35rfBcg5Vxj2R6umL This gives an overview how today's donations compare to an average day.
When opening the blockchain.info adress page its says:
Warning! this bitcoin address contains transactions which may be double spends. You should be extremely careful when trusting any transactions to or from this address.
Don't know if there's a way to fix this
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When opening the blockchain.info adress page its says:
Warning! this bitcoin address contains transactions which may be double spends. You should be extremely careful when trusting any transactions to or from this address.
Don't know if there's a way to fix this
when filtering for the outgoing transactions I can see only one (which tells me there cannot be a double spend)
also when showing the outgoing txs the balance is (slightly) higher:
https://blockchain.info/address/37X8DHpfiimB7PU5y35rfBcg5Vxj2R6umL?filter=1
conclusion: blockchain.info screw it!
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When opening the blockchain.info adress page its says:
Warning! this bitcoin address contains transactions which may be double spends. You should be extremely careful when trusting any transactions to or from this address.
Don't know if there's a way to fix this
Just saw this:
For the people asking us via PM why blockchain.info is displaying a message saying https://blockchain.info/address/37X8DHpfiimB7PU5y35rfBcg5Vxj2R6umL
"Warning! this bitcoin address contains transactions which may be double spends. You should be extremely careful when trusting any transactions to or from this address."
Some Bitcoin wallets and very few miners don't support multisig addresses. As a result some of the payments sent can effectively "bounce". To the network they look like double-spend attacks. Considering the amount of BTC we want to raise using a secure setup such as a multisig address was a must.
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does this mean no sending from blockchain.info?
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does this mean no sending from blockchain.info?
Nop .. all is fine .. just some display glitch
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does this mean no sending from blockchain.info?
Sending from blockchain.info is fine.
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+5%
Look for auction statistic online here:
http://www1.agsexplorer.com
Please add this link to description at http://www.bitsharesmusicfoundation.org
This ^^
Also is it only me having hard time finding the appropriate announcement thread on bitcointalk?
Come on guys you/we need a bigger splash for this pre-sale... and I mean let's not constrain ourselves to only literally :)
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+5%
Look for auction statistic online here:
http://www1.agsexplorer.com
Please add this link to description at http://www.bitsharesmusicfoundation.org
This ^^
Also is it only me having hard time finding the appropriate announcement thread on bitcointalk?
Come on guys you/we need a bigger splash for this pre-sale... and I mean let's not constrain ourselves to only literally :)
no, on bitcointalk is nothing. but you know. advertising is highly overrated, if they need more money we can always dilute it.
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About to advertise on bitcointalk and reddit.
Guys ready to comment, defend and upvote?! haha. Ready for war with miners?
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About to advertise on bitcointalk and reddit.
Guys ready to comment, defend and upvote?! haha. Ready for war with miners?
For you always!
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About to advertise on bitcointalk and reddit.
Guys ready to comment, defend and upvote?! haha. Ready for war with miners?
For you always!
count me in!
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About to advertise on bitcointalk and reddit.
Guys ready to comment, defend and upvote?! haha. Ready for war with miners?
Link us when ready!
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Yeah, go for it!
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Here is the Reddit:
http://www.reddit.com/r/Bitcoin/comments/2iw532/bitshares_music_peertracks/
Here is the bitcointalk. (I put it under "alternate cryptocurrencies, is that good?)
https://bitcointalk.org/index.php?topic=819163.new#new
Upvote and comment! Let's get this DAC out there.
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Here is the Reddit:
http://www.reddit.com/r/Bitcoin/comments/2iw532/bitshares_music_peertracks/
Here is the bitcointalk. (I put it under "alternate cryptocurrencies, is that good?)
https://bitcointalk.org/index.php?topic=819163.new#new
Upvote and comment! Let's get this DAC out there.
You will learn this soon enough, but they just LOVE developer with 2 posts on bitcointalk.org....
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Here is the Reddit:
http://www.reddit.com/r/Bitcoin/comments/2iw532/bitshares_music_peertracks/
Here is the bitcointalk. (I put it under "alternate cryptocurrencies, is that good?)
https://bitcointalk.org/index.php?topic=819163.new#new
Upvote and comment! Let's get this DAC out there.
You will learn this soon enough, but they just LOVE developer with 2 posts on bitcointalk.org....
LOL I know right. I was just thinking the exact same while posting it. Oh damn, here we go.
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Perhaps it may be worthwhile to edit your post and introduce yourself and list your credentials. You certainly haven't been hiding who are are in real life, so it would probably help to make that distinction in your BCT post
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Here is the Reddit:
http://www.reddit.com/r/Bitcoin/comments/2iw532/bitshares_music_peertracks/
Here is the bitcointalk. (I put it under "alternate cryptocurrencies, is that good?)
https://bitcointalk.org/index.php?topic=819163.new#new
Upvote and comment! Let's get this DAC out there.
You will learn this soon enough, but they just LOVE developer with 2 posts on bitcointalk.org....
LOL I know right. I was just thinking the exact same while posting it. Oh damn, here we go.
The overall mode is positive. We have a good start. :)
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right now on the agsexplorer the rate is 1,105,440.84564173 NOTE / BTC. If i donate now will i have that same ratio? Or will I have the ratio presented on the end of the day?
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The ratio will change! It's just a reference ratio that no one else is donating till the end of the day (UTC)
Sent from my iPhone using Tapatalk
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*cough*
http://www1.agsexplorer.com/by_date/2014-10-3
http://www1.agsexplorer.com/by_date/2014-10-5
*cough*
Just to prove we are paying attention, I see on the agsexplorer now is a note:
Pre-sale made before 2014-10-06 are counted as day 1 (2014-10-06) pre-sale.
and other text about the strict 00:00 UTC 6th Oct start has been changed.
I guess that is suggesting properly "counted within day 1", which is fine.. nothing to see here then, move along. ;)
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Here is the Reddit:
http://www.reddit.com/r/Bitcoin/comments/2iw532/bitshares_music_peertracks/
Here is the bitcointalk. (I put it under "alternate cryptocurrencies, is that good?)
https://bitcointalk.org/index.php?topic=819163.new#new
Upvote and comment! Let's get this DAC out there.
You will learn this soon enough, but they just LOVE developer with 2 posts on bitcointalk.org....
Ha, isn't that true. Bitcointalk brings out the worst in everybody. just look at my own posts (https://bitcointalk.org/index.php?action=profile;u=103183) over there, even I have resorted to trolling and flaming now and then. At least I haven't turned a scammer yet.
Btw, cob, if you plan a signature campaign there I can help you out, though be careful as there are just account farmers who posts bunches at a time to grab your money. You can instead try and buy some advertising slots by bidding.
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to be honest.. I quit talking talk the bitcoin community .. I tried some evangelism in r/bitcoin and r/bitcoinmarket and all they say is scam/shit stuff .. Most don't take any of btsx serious .. :(
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to be honest.. I quit talking talk the bitcoin community .. I tried some evangelism in r/bitcoin and r/bitcoinmarket and all they say is scam/shit stuff .. Most don't take any of btsx serious .. :(
I'd suggest it might be easier to engage the Bitcoin2.0 communities.. those still in Bitcoin1.0 are likely a cluster of amateurs and vested interest in copycoins. Perhaps also go direct to some of the core established coins.. PPC=Peershares might be a good one too. So, long as BTS doesn't start antagonising the competition and has regard for all people trying the same effort, then there's little reason we cannot all get along. Bridging those gaps might be useful for alsorts of reasons.
I wonder making bitUSD visible will be important. Where is the website that people can watch it's stability relative to the USD?.. we have coinmarketcap.com but that doesn't provide for evidencing what BitShares is doing. Also the main crowd for BitShares might be beyond the traditional crowds. Just evidence what is available and let sensible people be drawn to it.
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to be honest.. I quit talking talk the bitcoin community .. I tried some evangelism in r/bitcoin and r/bitcoinmarket and all they say is scam/shit stuff .. Most don't take any of btsx serious .. :(
Its a place for the twats, and you have to be a twat yourself to survive.
I still think Bitcointalk presence is needed. There is all the people are who have money and are willing to look for opportunities. You can either hire people to keep plugging Bitshares (to keep it visible) or advertise.
At the very least you can ask me to open the threads. I would like to think (perhaps naively) that I have some reputation.
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Is it possible perhaps to host one thread only and keep it alive and bumping to top of the heap? I'm not clear if BTT allows thread owners to delete posts within the thread and keep it on topic.
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Is it possible perhaps to host one thread only and keep it alive and bumping to top of the heap? I'm not clear if BTT allows thread owners to delete posts within the thread and keep it on topic.
One can open a self moderated topic. That again brings with it the problem of trolls accusing of trying to hide things.
Anyways, if you folks want me to open a thread, message me the content and I will open a self-moderated one. Btw, the pre-sale announcement should be mirrored in the Altcoins Marketplace child board.
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and perhaps if not being done already this obviously needs throwing beyond crypto crowd to all the music forums. I've no idea what the best of those are to suggest them.. expecting Marketing is on top of that already.
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Not sure how good the marketing here is, tbh. In anycase for the fundraiser period a targeted could've been useful. Even on Bitcointalk a 1 month campaign would've cost some 2-3 BTCs at the most, and probably would've bought in quite a lot.
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after the fundraising. when do you expect to have the first client? do you working already on it??
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after the fundraising. when do you expect to have the first client? do you working already on it??
That is a good question ? Eddie said something about February 2015 is this still valid ?
As I understand Bitsapphire will be developing the front end (PeerTrack) site but I also would like to know who's gonna be developing the back-end (Bitshare Music) ? Is there a estimation for how much work and time will take for adapting Bitshare Toolkit too work ?
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Yep, if you want extra money start pumping a thread on BTT. This is a no-brainer. The sooner the better. I believe they allow pre-sale ANN's. That site has a huge following with the largest # of people friendly to your sale. Then perhaps see if you can get on Arthur B Fall's show which is not the same as the Beyond Bitcoin session you did previously.
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Yep, if you want extra money start pumping a thread on BTT. This is a no-brainer. The sooner the better. I believe they allow pre-sale ANN's. That site has a huge following with the largest # of people friendly to your sale. Then perhaps see if you can get on Arthur B Fall's show which is not the same as the Beyond Bitcoin session you did previously.
Yeah I don't get that part either, why they chose to do so little advertising ?It would cost them close to nothing to advertise and to create buzz 'cause one think is for sure this DAC need loads of money to do it properly.
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Here is the Reddit:
http://www.reddit.com/r/Bitcoin/comments/2iw532/bitshares_music_peertracks/
Here is the bitcointalk. (I put it under "alternate cryptocurrencies, is that good?)
https://bitcointalk.org/index.php?topic=819163.new#new
Upvote and comment! Let's get this DAC out there.
Bumping a post to bump a thread that tells us where to bump on Bitcointalk to get my buddy Cob a bit more cash.
Seriously though, sneaking a couple other threads about on BTT wouldn't hurt.
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today someone donated 10 BTC so expect today not so cheap notes.
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blockchain.info/tx/9159d3ddfefd2e96f0740188714b3f962bd00e9b8466bbe258feeedee0adeaf9
IPO is not done yet, they already spent some coins
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blockchain.info/tx/9159d3ddfefd2e96f0740188714b3f962bd00e9b8466bbe258feeedee0adeaf9
IPO is not done yet, they already spent some coins
That's alright. They need to start working on in right away, of course will be nice if Cob will do some update on what's happening ..
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blockchain.info/tx/9159d3ddfefd2e96f0740188714b3f962bd00e9b8466bbe258feeedee0adeaf9
IPO is not done yet, they already spent some coins
blockchain.info/tx/9159d3ddfefd2e96f0740188714b3f962bd00e9b8466bbe258feeedee0adeaf9
IPO is not done yet, they already spent some coins
That's alright. They need to start working on in right away, of course will be nice if Cob will do some update on what's happening ..
Updates are forthcoming.
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blockchain.info/tx/9159d3ddfefd2e96f0740188714b3f962bd00e9b8466bbe258feeedee0adeaf9
IPO is not done yet, they already spent some coins
We heard of BitCocaine and just couldn't help ourselves (:
actually some advertising bills came in. Expect a press release soon, and some banners on main sites. More of these bills we will receive in the upcoming weeks.
Past expenses are soon to be reimbursed too. Waiting on some attorneys to send the total bill thus far.
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I am very interested in this project and it sounds like we will see really cool innovations in this sphere, BUT...
can we talk about this pre sale from a critical point of view, please?
I dont understand why NOTES make sense honestly, when users will be using BitUSD or bit coin or or or....
Is this just a huge fund raiser where buyers are holding tokens that don't make any sense for me as an investor? I mean HOW will NOTES play a role in this system? In the information you provide on the foundation webpage you say that this is NOT an investment but at the same time you advertise this pre sale on any given podcast by saying you can buy and hold those tokens like shares and be part of a mulit-million/billion network and profit from its development.
I would really appreciate any kind of clarification, because i expect the price of NOTES to dump. 1.5billion units will most likey be wort 50sat, but your "auction" seems like to generate a buy price of 500sat (average) now.
P.S.: Why are you already withdrawing so much btc from this address?
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Are you familiar with BitShares? NOTES would be what BTSX is to BitSharesX.
If we want to draw an analogy to a traditional business bitUSD, etc. are what people use to buy the company's product. NOTES are shares in the company - what people buy to own a piece of the company.
Since this is a DAC there is no head office or CEO, etc. It is owned and operated by the NOTES (share) holders. The NOTES holders vote for delegates that run the network (sign blocks) that the Artistcoins are traded on.
The Artistcoin (for example MarkyCoin) are user created assets on the blockchain.
Cob: If I've misstated let me know and I'll remove/update this post.
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Are you familiar with BitShares? NOTES would be what BTSX is to BitSharesX.
If we want to draw an analogy to a traditional business bitUSD, etc. are what people use to buy the company's product. NOTES are shares in the company - what people buy to own a piece of the company.
Since this is a DAC there is no head office or CEO, etc. It is owned and operated by the NOTES (share) holders. The NOTES holders vote for delegates that run the network (sign blocks) that the Artistcoins are traded on.
The Artistcoin (for example MarkyCoin) are brought into existence by shorting NOTES in the same way bitUSD is brought into existence.
Cob: If I've misstated let me know and I'll remove/update this post.
Correct except the Artistcoin part. They are not shorted they are just a user issued asset. bitUsd is brought in existence shorting Notes
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so basically i don't need to buy NOTES, because i can go with bitUSD?
I am confused when the guys promote it as an investment on a podcast but the foundation page says "it is NOT an investment"??
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so basically i don't need to buy NOTES, because i can go with bitUSD?
I am confused when the guys promote it as an investment on a podcast but the foundation page says "it is NOT an investment"??
The NOTES would be the investment side since that's the shares in the company. I'll have to read the foundation page again for context but it might be a CYA statement to keep regulators at bay.
Also, in my own personal opinion, I think the Artistcoins are the real investment. They generate revenue and fluctuate in value depending on the success of the artists. If you're good at spotting up and coming bands I feel there is a lot of money to be made.
Thanks for the correction oco101. My post has been updated.
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Ok, so bottom line is... Notes are for shareholders of the company, but most likely there won't happen a lot in terms of price development. You won't be profiting from it? Or is there any reason why those shares should benefit the EARLY ADOPTER????
You won't be able to buy artist coins with notes.... Therefore you will need bitUSD, right?
And as soon as you hold those artist coins you will be more or less trading it as we know it from the alt market?
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Ok, so bottom line is... Notes are for shareholders of the company, but most likely there won't happen a lot in terms of price development. You won't be profiting from it? Or is there any reason why those shares should benefit the EARLY ADOPTER????
You won't be able to buy artist coins with notes.... Therefore you will need bitUSD, right?
And as soon as you hold those artist coins you will be more or less trading it as we know it from the alt market?
You don't need to buy Notes in order to buy Artiscoin correct. You could buy Artistcoin directly with bitUSD. So if you don't care about Notes wait until Peertrack is live then with your CreditCard or debit you buy bitUSD and then you can buy music, Artistcoins and whatever will be for sale on the website. The vast majority of user they will not even know that PeerTracks is working on top of Bitshare Music blochain,
Notes ares used to back up your bitUSD in the same way that bts back bitUSD now. So the more bitUSD are used on PeerTracks, the more valuable Notes will be. Also if you are a holder of Notes there are transaction fee that are going to the Notes holders, they are burned and they reduce the total supply you could see it as dividends but is a bit different.
So if PeerTrack will be successful Notes will surely increase in value in my opinion. If not you invest just in artiscoin and make money out of it. Donating for notes in Pre sale is is beveling that the system will be successful.
You could buy bitUSD with Notes therefore you could buy artistcoins
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The shares only benefit the early adopters in the sense that you're buying into a company that is still unknown so you're probably going to get them for a lot less than once available on the open market.
Sent from my SM-G900T using Tapatalk
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The shares only benefit the early adopters in the sense that you're buying into a company that is still unknown so you're probably going to get them for a lot less than once available on the open market.
Sent from my SM-G900T using Tapatalk
Good point so this could happens of course, and if you believe so you should invest in pre sale
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Err, should infest in pre sale...
Sent from my SM-G900T using Tapatalk
Lol sorry corrected
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You could buy bitUSD with Notes therefore you could buy artistcoins
so i can buy bitUSD with NOTES? When this is the case i am happy.
I DO believe in the project, but i was confused with the concept.
So i buy Notes now and then i can go and get bitUSD, thats great :)
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so i can buy bitUSD with NOTES?
With NOTES you invest in the DAC, the blockchain, the business ..
you can also trade them for bitUSD .. (that's the plan) ..
those bitUSD you can use to pay for music/artistcoins whatsoever
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so i can buy bitUSD with NOTES?
With NOTES you invest in the DAC, the blockchain, the business ..
you can also trade them for bitUSD .. (that's the plan) ..
those bitUSD you can use to pay for music/artistcoins whatsoever
yeah, i understood that i am investing in this business (DAC), but with the statement on the page it sounded it is ONLY a fund raiser and has nothing to do with shares that will be traded.
but thank you guys for making things clear :)
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Not sure about the legal perspective
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Not sure about the legal perspective
why?
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In comparison AGS have been a DONATION for legal reasons .. and you received you BTSX as a gift
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can someone comment this:
https://bitsharestalk.org/index.php?topic=10520.0
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I'm not sure what it is not unclear but what will happen, in Bithshare Music you'll have notesUSD. But what is important to understand is that noteUSD will be pegged to the value of USD
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Notes are the collateral required for the BitUSD used on the music blockchain.
So if we manage to displace a billion dollar music industry (meaning tons of BitUSD now trading around on the BitShares Music blockchain) that means a LOT of demand for Notes since they are needed as collateral for each an every BitUSD.
Does that make sense?
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Notes are the collateral required for the BitUSD used on the music blockchain.
So if we manage to displace a billion dollar music industry (meaning tons of BitUSD now trading around on the BitShares Music blockchain) that means a LOT of demand for Notes since they are needed as collateral for each an every BitUSD.
Does that make sense?
THIS is what is confusing people. The use of the term "BitUSD" interchangeably whether you are referring to USD pegged assets on the Bitshares Music chain or the BitsharesX (soon to be Bitshares) chain.
BitUSD is the USD pegged asset collateralized by Bitshares.
The USD pegged asset collateralized by Notes should be NoteUSD.
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Transaction #75469QBB to the amount of 20.079 BTC has been confirmed. Proceed: //bit-sec(DOT)org/tx/75469QBB
Whats that?? when i check the address on the block chain i see a bunch of those messages!
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Notes are the collateral required for the BitUSD used on the music blockchain.
So if we manage to displace a billion dollar music industry (meaning tons of BitUSD now trading around on the BitShares Music blockchain) that means a LOT of demand for Notes since they are needed as collateral for each an every BitUSD.
Does that make sense?
cob, i know this is the intuition of many people, but I don't think it's right as I explain in this thread here for bitUSD at BTSX...https://bitsharestalk.org/index.php?topic=10690.0
If I could explain this in the most intuitive way I can, demand for the unit of account (lets call it NoteUSD) encourages arbitragers to move the Notes they have on hand into the collateral pool by shorting NoteUSD at a favourable price. It creates a shift in where people hold their Notes, but not in the total demand people have for Notes.
The demand people have for Notes is determined by the return potential people see for the Notes themselves. That will depend on how demand for the NoteUSD translates into actual sales of music or other sources or revenue. If this is too little to justify an increase in the demand for Notes then Notes valuation will not rise as an automatic consequence of demand for NoteUSD. Further if Notes valuation does not rise as fast as NoteUSD market cap, the Notes valuation places a ceiling on how much NoteUSD can be issued (NoteUSD demands at least 3x that value be stored in the collateral pool).
So the business model for Notes needs to rely on music sales (or other sources of revenue), not just growth in holdings of NoteUSD.
For various arguments for and against this view, it is best to refer to the thread rather than repeat them here. Although I can't call it a proof, I'm fairly comfortable with the conclusions.
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I noticed there is discussion of no pre-sale for Play for legal reasons. Are there likely to be any legal issues with the pre-sale of Notes? What risk is borne by a participant in this pre-sale?
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I noticed there is discussion of no pre-sale for Play for legal reasons. Are there likely to be any legal issues with the pre-sale of Notes? What risk is borne by a participant in this pre-sale?
I wouldn't worry about it. I think they actually cleared it with SEC.
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Pushing the presale a bit. It is heavily undervalued: https://bitcointalk.org/index.php?topic=819163.msg9556704#msg9556704
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I noticed there is discussion of no pre-sale for Play for legal reasons. Are there likely to be any legal issues with the pre-sale of Notes? What risk is borne by a participant in this pre-sale?
I wouldn't worry about it. I think they actually cleared it with SEC.
They're just rewarding you with tokens, which you can use within the PeerTracks ecosystem. The market will assign these some value later on. It's not a security you are buying. And you have no idea how many tokens you'll get for your BTC on any given day.