Author Topic: Bittunes thoughts about Muse model, it's worth a read  (Read 973 times)

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TravelsAsia

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Bittunes thoughts about Muse model, it's worth a read
« on: December 01, 2015, 04:28:45 pm »
Thank you to Ken Code  for asking these great questions. I like the Bittunes project, not as much as Peertracks, but I still value the work they are doing. As I mentioned in another response, I had a chance to play with their android app and felt it was one of the more user friendly apps in the Bitcoin space.  I wanted to share a post by Simon Edhouse of Bittunes that references Muse. While I don't agree with his basic premise about Bitcoin, we can always learn from others view on our project.  Reading the quote below helped me ask some better questions about Peertracks direction.  It sounds like Bittunes is attempting to leverage Bitcoin to a mass audience where Peertracks is doing it's best to hide the idea of crypto currency to the user. Very interesting.

Quote

Simon Edhouse  ken Code • 2 hours ago
Hi Ken,
The 'regulation' aspect is a principle.. There are various ways to achieve it. Currently it is done by us manually, by simply requiring artists to provide a number of their social media accounts, which are quickly checked to make a judgement about authenticity. (we have sometimes required an artist to provide a bit more information to satisfy ourselves we are dealing with the originator of the works, and I think very occasionally this has resulted in us not proceeding, but this is by far the exception to the rule) The vast majority of music being made is by independent artists and again, the overwhelming majority are genuine. As the enterprise scales we will use some content analysis tools to assist us, but the time taken, currently, has not been an issue.

Myself and another team member are responsible for this process currently. Its really about a common sense appraisal and tapping into a lot of experience, (domain knowledge) as a musician and songwriter. If there is ever a complaint or conflict with different people claiming to be the rights holder; if we cannot easily resolve the matter, there are various steps that could be taken to minimize negative outcomes, from keeping earnings in a kind of escrow status, to actually pulling the content and asking the parties to resolve the matter externally. However, to date, nothing like this has been necessary. ~ By the way... The 'Big Business' side of the music industry is far more prone to being tricky than well meaning creative artists dedicated to self-expression.

Yes I am aware of the Muse Blockchain project and Bitshares, but I do not think that these approaches will garner wide spread adoption, and I see a number of problems with the Bitshares model, and with unconstrained issuances of tokens in general. I have discussed my thoughts on these type of systems on a number of occasions. In short.. When something can be copied and produced for zero marginal cost, the value will inevitably tend towards zero.. When so many companies can so simply generate these token based systems, they will find themselves in a sea of copy cats, with very little differentiation possible. As Kevin Kelly said: "Sell what can't be copied.. what can't be copied?" He goes on: "Trust cannot be copied. You can’t purchase it. Trust must be earned, over time."

i.e. Its what you stand for, 'as a brand' that matters, not how amazingly futuristic and full featured your nascent technology is. One has to take a long term view of how the 'diffusion of innovation' typically works. Its hard enough for Bitcoin to gain public acceptance, but it is happening slowly, and so is the strengthening of Bitcoin's core, by virtue of projects like Blockstream's Sidechains and Lightening Networks. I think in the fullness of time, Bitcoin will have by far the highest gravitational pull.

Regarding your last question.. Song files are stored in various formats and Artists are free to update the representative files whenever they like. The issue here is finding a balance between the priorities of Artists, usually wanting to preserve the audio fidelity of their tracks, and the needs of fans/buyers who probably don't want to pay overly high bandwidth charges to stream or download larger files than they feel they need.

We have learned an enormous amount from running Bittunes to date, and listening to the advice and suggestions of our artists, (we have some really exciting innovations planned that have come about due to these consultations with our artists) and we will factor in all these learnings as we move toward rolling out subsequent versions of the platform.

/Quote

http://cointelegraph.com/news/115757/blockchain-evolution-in-music-industry-revolution-leaves-mainstream-behind

Thank you to Mr. Edhouse for a well thought out reply. If I need to trim part of the post out and just make a reference to the post, let me know.

Offline donkeypong

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Re: Bittunes thoughts about Muse model, it's worth a read
« Reply #1 on: December 04, 2015, 04:31:02 am »
That is a thoughtful response. Makes me think highly of him. He could be right about BitShares and MUSE. But I think he underestimates them greatly, as they are much more than the 'unrestrained' issuing of tokens. In his defense, they are not that simple to understand in full measure. He could be more like the guy who said the Internet wouldn't be any more useful than the fax machine. Sometimes, the future is staring you right in the nose, but it's hard to see because the utility and applications cover a new niche that we didn't know/appreciate society had.
« Last Edit: December 04, 2015, 04:32:49 am by donkeypong »

TravelsAsia

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Re: Bittunes thoughts about Muse model, it's worth a read
« Reply #2 on: December 04, 2015, 04:57:55 am »
He could be correct about Bitcoin's gravitational pull, who knows which platforms will be the leaders in the next few years.  I think the statement misses the point about Peertrack's target audience.  This is not a project directly evangelizing the tech, it's taking advantage of platform features to provide artist the ability to have deeper fan engagement while fans have every incentive to find untapped music and to be a superfan/promoter.  If Peertracks pulls it off, most participants in the system won't know or care about how it's powered. 

Offline donkeypong

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Re: Bittunes thoughts about Muse model, it's worth a read
« Reply #3 on: December 04, 2015, 05:03:54 am »
Yes. MUSE really has better viral potential than anything else in crypto.

TravelsAsia

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Re: Bittunes thoughts about Muse model, it's worth a read
« Reply #4 on: December 04, 2015, 05:46:08 am »
Yes. MUSE really has better viral potential than anything else in crypto.

It's why I went all-in on this one! The most exciting news I heard was the focus on expanding past just music. Imagine the types of creative rewards that could be created by paints, artists, novelists and even adult film stars. I'm thinking beyond individual rewards, I think you'll start to see some interesting collaborations such as these 3 unknown artists are teaming up on their rewards. i asked a few questions in the Shareholders Questions thread that should get the juices flowing.

Offline cob

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Re: Bittunes thoughts about Muse model, it's worth a read
« Reply #5 on: December 06, 2015, 10:55:38 pm »
Thanks for this lovely info sir!

I don't he understands fully what we are doing. Great project to monitor though, that's for sure.
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.