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Muse/SoundDAC / Re: BitShares Music and/or NOTE logo. Any ideas?
« on: October 12, 2014, 03:48:46 pm »Is the abbreviation for notes going to be NTS or BNTS?NOTE
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Is the abbreviation for notes going to be NTS or BNTS?NOTE
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....
What determines the price of a song?
As it is now PeerTracks does not make any money for sales of the artist coin or songs. So the only way to make money it is to buy NOTES and hope to make enough profit to cover bandwidth cost and development. This model can't work, i.e if a company in China want's to make PeerTrackChina I will have 0 incentive to go all this trouble to build it. It is much easier to just buy the NOTES and make a profit and not bother with all trouble building the website bandwidth etc. Or even better they will clone Bitshare Music and they will lunch on a different chain.Agreed. Each company will set their own fee. Some companies might set their fee to 0% if they can cover costs some other way and attract more artists/users to their platform because of that low fee.
So if we want Bitshares Music to become the music DAC that everybody will use, then others company needs to have the incentive to build on top of it. I think the best way will be that each company should be able to set a percentage of the sales that is going as profit.
No PeerTracks will definitely have some Notes. But it's impossible to calculate just how much revenue those will generate. Maybe those Notes will cover costs, maybe not. If not, then we will have no choice but to charge a extra % for the service.
..whether the Notes PeerTracks will hold will be enough to repay the bandwidth costs.. But you are saying that PeerTrack does't hold any NOTES or funds ??
( If it's not enough then a fee will be charged for that) The fee that PeerTrack will charge will be coded in the front(PeerTrack website) or it will be integrated in the back end( Bitshare Music Dac) ?It would be front end of course.
One more think. Why you don't take a small fee that goes directly to Bisthares Music Foundation in that way there will a continuous flow of founds that will be use by the Foundation for the development and other project of the DAC, so there will be less need to inflate the Notes supply. I.E. 80% goes to the artist, 17% goes to buy back, 2% you burn that goes to Notes holders and 1% you don't burn you put in the Foundation account .