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Questions on the artistcoin details

Started by speedy, October 05, 2014, 01:58:27 PM

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oco101

Quote from: trader on October 05, 2014, 01:58:27 PM
Q) So I see a talented artist's coins are really cheap so I spend some BitUSD to get them. I then want to spread the word to my friends on facebook, but they aren't into crypto so dont have any BitUSD. What do I do about this? Will PeerTracks accept credit cards as a substitute to buy BitUSD first?


That's the thing they don't need to be crypto. They go on PeerTracks website and they use they credit card and get bitUSD. PeerTracks it aimed not at the crypto word it is for all music fans.

Quote from: trader on October 05, 2014, 01:58:27 PM
Q) Im trying to fully understand the buy-back process. An artist initially offers 10000 coins at 1 dollar each for example, and half of then are bought up. The artist gets the usual 80% of each sale, but where does the 20% go to, as there are not yet any other coins for sale in the hands of users?
  -Do the 20% of the initial sales sit waiting to buy-back coins as soon as some of the initial buyers start selling?
  -What if the initial buyers sell their coins back undercutting the initial artist sell price of 1 dollar?

The 80% is for the selling of music, not artistcoin. The money from artiscoin goes 100 % to artist. 
So once the music from artist start selling 80% goes to the artist, 18% goes for the buy back, 2% goes to notes shareholders(burned)

speedy

Q) So I see a talented artist's coins are really cheap so I spend some BitUSD to get them. I then want to spread the word to my friends on facebook, but they aren't into crypto so dont have any BitUSD. What do I do about this? Will PeerTracks accept credit cards as a substitute to buy BitUSD first?

Q) Im trying to fully understand the buy-back process. An artist initially offers 10000 coins at 1 dollar each for example, and half of then are bought up. The artist gets the usual 80% of each sale, but where does the 20% go to, as there are not yet any other coins for sale in the hands of users?
  -Do the 20% of the initial sales sit waiting to buy-back coins as soon as some of the initial buyers start selling?
  -What if the initial buyers sell their coins back undercutting the initial artist sell price of 1 dollar?

Q) How soon can we expect to see artists sign up to PeerTracks ? Any confirmed ones yet?

Thanks for any explanation on this.