Author Topic: Is bitshares music about creating artificial scarcity ?  (Read 4139 times)

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Offline toast

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Re: Is bitshares music about creating artificial scarcity ?
« Reply #15 on: April 23, 2014, 06:33:01 pm »
Musicians will pay back shareholders who supported them from deals where it is "less unethical" to create scarcity, like selling it to a company to use in a commercial. Or give signed T-shirts to the top 500 donors like to kickstart an album.
This is the sustainable route. Same stuff as nowadays only the middleman's cut is minimized instead of maximized at every point. Of course musicians will try to pump, that's why it'll be fun.

BTW, I have no idea if this is actually what the Music guys are doing. I'm interested if they thought of something other than selling songs for cases when you can only obtain radio streaming license on music in the short term.
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Offline Agent86

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Re: Is bitshares music about creating artificial scarcity ?
« Reply #16 on: April 23, 2014, 06:41:55 pm »
Imagine if youtube had a value system to rank how good videos are and whenever you watched a video you could say if it is crappy and ranked too high or if it is a great video that people will really like and is ranked too low.  And then if you predict correctly and a video that you "upvote" becomes more popular or a video that you "downvote" continues to be less popular and is downvoted by others, then you get paid.  If you pump a crappy video, others will watch it and get pissed off for having their time wasted and downvote it and then you lose money because you bet on a losing horse.

I think the model is something along those lines.

Offline Empirical1

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Re: Is bitshares music about creating artificial scarcity ?
« Reply #17 on: April 23, 2014, 07:38:15 pm »
Side music question: do you think shareholders will get screwed by pump and dump schemes in BTS music?  Or will there be great benefit to 'hold' songs long term?


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A song will have a very short product life cycle. It's price should reflect where it is in that life-cycle so not really pump & dump.



Imagine if youtube had a value system to rank how good videos are and whenever you watched a video you could say if it is crappy and ranked too high or if it is a great video that people will really like and is ranked too low.  And then if you predict correctly and a video that you "upvote" becomes more popular or a video that you "downvote" continues to be less popular and is downvoted by others, then you get paid.  If you pump a crappy video, others will watch it and get pissed off for having their time wasted and downvote it and then you lose money because you bet on a losing horse.

I think the model is something along those lines.

Some Youtube videos generate $ thousands of ad revenue. I think it would be nice if a publisher could sell shares in their videos so you can get a % of their ad revenue.

---

I still think the big money will be made from people who partner with existing big record labels, which is not particularly positive for humanity but potentially very profitable $$$$ https://bitsharestalk.org/index.php?topic=4017.0


Offline bytemaster

Re: Is bitshares music about creating artificial scarcity ?
« Reply #18 on: April 23, 2014, 07:45:30 pm »
We need to be carefull with innovation and technological development. They both are not neutral.
We need to analyze if these innovations are good for society. Where do we want to go?
Which kind of consequences are gonna have these developments?

I think bitshares music promote scarcity and as consequence its very bad for the interest of humanity.

In my vision for BSM it would promote copying of the song for free and no charge and then provide a means to tie the value of a share in the song to the popularity of the song.   Popular songs are indeed naturally scarce as are talented artists.  I thus want to encourage the discovery and sharing of songs while allowing people to profit from the discovery of quality artists and music. 

So the goal is to incentivize discovery of scarce goods and thus make them more abundant *without* relying on force or coersion that is represented by copyright.

BSM as it is being produced by Eddie is a hybrid model, they are selling downloads, but sharing the revenue from the downloads with the shareholders.  Thus there is no artificial scarcity.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
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Offline bytemaster

Re: Is bitshares music about creating artificial scarcity ?
« Reply #19 on: April 23, 2014, 07:46:42 pm »

Some Youtube videos generate $ thousands of ad revenue. I think it would be nice if a publisher could sell shares in their videos so you can get a % of their ad revenue.

This is a VERY interesting idea!
For the latest updates checkout my blog: http://bytemaster.bitshares.org
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.

bitbro

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Re: Is bitshares music about creating artificial scarcity ?
« Reply #20 on: April 23, 2014, 08:07:18 pm »


Some Youtube videos generate $ thousands of ad revenue. I think it would be nice if a publisher could sell shares in their videos so you can get a % of their ad revenue.

This is a VERY interesting idea!

SharesTube.com

Or

SharesTube.p2p


:)


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Offline Agent86

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Re: Is bitshares music about creating artificial scarcity ?
« Reply #21 on: April 23, 2014, 08:10:24 pm »
just ShareTube

bitbro

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Re: Is bitshares music about creating artificial scarcity ?
« Reply #22 on: April 23, 2014, 08:12:19 pm »

just ShareTube

+ 1 ;)


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Offline Empirical1

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Re: Is bitshares music about creating artificial scarcity ?
« Reply #23 on: April 23, 2014, 08:37:17 pm »

Some Youtube videos generate $ thousands of ad revenue. I think it would be nice if a publisher could sell shares in their videos so you can get a % of their ad revenue.

This is a VERY interesting idea!

Thanks  :)

Offline biophil

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Re: Is bitshares music about creating artificial scarcity ?
« Reply #24 on: April 23, 2014, 11:47:47 pm »
Back to OP's main point briefly: he seems to be saying that because we can copy a song and distribute it ad infinitum, that the song is abundant. That somehow an item's abundance is related to how many copies of it exist. But this is really a form of artificial abundance, right? In an important sense, songs are actually scarce, because it's not trivial to produce a good song. A song is a special type of good that can fall prey to artificial abundance, which really screws with the incentives to produce songs.

This is the problem that Bitshares Music is trying to solve: the illusion of abundance that the Internet produces has caused incentive problems for musicians. Record labels tried to solve the incentive problem by legislating scarcity, and that approach has mostly turned out to be a huge failure. Bitshares Music is just a new approach to the incentive problem, one which I suspect may turn out to be a bit more successful. :)

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Offline cob

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Re: Is bitshares music about creating artificial scarcity ?
« Reply #25 on: April 24, 2014, 04:52:11 am »
What Eddie and I are building is a website where you can listen to music for free, but if you want to have a copy of the mp3, you must pay.
Free to stream, pay to download.

If you want to buy shares of a song, you must also pay. You will then get rewarded IF that song generates any sales.

Here, let me "leak" a section of the white paper. Please ignore the "Zenith Music Exchange" name since all our terminology is being revamped.

And let me add to this following section that there is a third type of listener. The ones that currently torrent because $0.99 is just a little bit to pricy for them. They would consider paying for a song if it were priced at say, $0.80.

anyway Here is the paste:

3.0 Incentives and advantages
The current economic model for buying music gives the listener two choices: one free, and one paying. People getting their music for free are the majority. People that pay for music do so for a variety of reasons but none of them involve self-interest. Our new model favours everyone's self-interests. Unlike the current one where artists hesitate before putting their music online for fear of file sharing / pirating, the Zenith Music Exchange now makes it profitable for the artist to upload and share everything he has.

What Zenith Music Exchange offers is to take the majority of people that normally just torrent music and turn them into music buyers. How so? By switching the incentives around. Buying music through the blockchain is now an action that promotes self-interest. If a user likes a song so much that he is willing to download it with the varying levels of hassle it entails (trojans / malware / viruses and the time required to find the files online), he most likely sees the value of that song. By buying a BitShare of that song directly from our website, he is invested in the song’s success. Every time the song is played or purchased, the new BitShareholder now sees the value of his portfolio rise and can cash out at any time!

A buyer can purchase a BitShare of a song, compensating the band in the process, for the sole reason that he will make money off it in the future. BitShares Music is harnessing the power of greed and putting it at the service of good. As for people already paying for their music, they will keep doing so, but will now get compensated financially for it. Currently, their good dead goes unrewarded. We personally like the idea of rewarding and incentivizing good, ethical and moral choices.
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.

bitbro

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Re: Is bitshares music about creating artificial scarcity ?
« Reply #26 on: April 24, 2014, 02:53:01 pm »

What Eddie and I are building is a website where you can listen to music for free, but if you want to have a copy of the mp3, you must pay.
Free to stream, pay to download.

If you want to buy shares of a song, you must also pay. You will then get rewarded IF that song generates any sales.

Here, let me "leak" a section of the white paper. Please ignore the "Zenith Music Exchange" name since all our terminology is being revamped.

And let me add to this following section that there is a third type of listener. The ones that currently torrent because $0.99 is just a little bit to pricy for them. They would consider paying for a song if it were priced at say, $0.80.

anyway Here is the paste:

3.0 Incentives and advantages
The current economic model for buying music gives the listener two choices: one free, and one paying. People getting their music for free are the majority. People that pay for music do so for a variety of reasons but none of them involve self-interest. Our new model favours everyone's self-interests. Unlike the current one where artists hesitate before putting their music online for fear of file sharing / pirating, the Zenith Music Exchange now makes it profitable for the artist to upload and share everything he has.

What Zenith Music Exchange offers is to take the majority of people that normally just torrent music and turn them into music buyers. How so? By switching the incentives around. Buying music through the blockchain is now an action that promotes self-interest. If a user likes a song so much that he is willing to download it with the varying levels of hassle it entails (trojans / malware / viruses and the time required to find the files online), he most likely sees the value of that song. By buying a BitShare of that song directly from our website, he is invested in the song’s success. Every time the song is played or purchased, the new BitShareholder now sees the value of his portfolio rise and can cash out at any time!

A buyer can purchase a BitShare of a song, compensating the band in the process, for the sole reason that he will make money off it in the future. BitShares Music is harnessing the power of greed and putting it at the service of good. As for people already paying for their music, they will keep doing so, but will now get compensated financially for it. Currently, their good dead goes unrewarded. We personally like the idea of rewarding and incentivizing good, ethical and moral choices.

How do AGS/ PTS share allocations come into play? 


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Offline tipon

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Re: Is bitshares music about creating artificial scarcity ?
« Reply #27 on: April 25, 2014, 03:37:55 am »
Yes, i was asumming it involves selling songs, but not only selling songs, its more trading and making bussiness with music.
In order to sell or trade something that is digital ( music, art, books ,software,  etc)   you need to be able to limit the number of copies.
You can do this using blockchain technologies and bitshares music , for example you can create a limited run of  a few copies of an album then you can assign each album
 a special key and then you encode that in the blockchain.
In this way you can have these digital albums or songs  that always stay an exact number of copies that can be traded.
This is basically creating artificial scarcity




We need to be carefull with innovation and technological development. They both are not neutral.
We need to analyze if these innovations are good for society. Where do we want to go?
Which kind of consequences are gonna have these developments?


I think bitshares music promote scarcity and as consequence its very bad for the interest of humanity.

You still haven't explained your point and you're assuming bitshares music works by selling copies of songs. Please do a more thorough argument because I still disagree.

Offline toast

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Re: Is bitshares music about creating artificial scarcity ?
« Reply #28 on: April 25, 2014, 03:41:07 am »
I think you're imagining song download ability as tokens you can trade around and as the resource that is limited. If you trade shares in the songs future sales (potentially infinite sales) you are creating "artificial scarcity" in the sense that there is exactly one "song's future revenue" which you split up proportionally among shareholders.
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Offline earthbound

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Re: Is bitshares music about creating artificial scarcity ?
« Reply #29 on: June 04, 2014, 09:37:58 am »
cob, please point me to where I can read any information about your project. Yeah, I could search, but that would involve searching :)

Also, how has this whole music thing emerged as anything separate from this idea -- where I have now posted a reply? :

https://bitsharestalk.org/index.php?topic=1053.msg63537#msg63537



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