BitShares Music non-technical paper. Updated.

[cob]

Awesome introduction. Really explains the key benefits in an easy to understand way. 

The % for the coin buy back can be set by the artist? If so is it ensured that the rate can't be decreased after the coin was issued?

The DAC will most likely allow that rate to be decided by the issuer, but on PeerTracks, we are planning on having a set rate for better user experience. We don't want to overload the user with a million different moving parts to account for.

So the DAC will allow flexibility is amount of artistcoins issued, and the % of income going to artist and artistcoin holders.

On PeerTracks though, since it is kind of a stepping stone to introduce the masses to this entirely new concept, we want to make it a set # of artistcoins and a fixe % for the buy back mechanism.

This way when you look at the top 100 charts, even a 10 year old will be able to get it.

Imagine if someone issued 700 billion artistcoins and the buy back was 0.1% and some guy makes 4 artistcoins with a 50% buy back.
One will be in decimal world, the other in Zimbabwe land, one coin willl be worth 5 million BitUSD and the other 0.0007 pennies.

We want to avoid that AT LEAST at first, while we want to ensure a good user experience.
The DAC will allow anything though. Front end sites / apps can choose the model they want.

[oco101]

the way i see it as that i can buy with my notes certain peertracks which, if or when, become popular i make money. Also the notes themselve might go up in price just like btsx

You buy artistcoin and songs with bitUSD, notes will be backing your bitUSD in Bitshare Music.

[xeroc]

the way i see it as that i can buy with my notes certain peertracks which, if or when, become popular i make money. Also the notes themselve might go up in price just like btsx

no .. peertracks is the dacsunlimited or I3 .. for bitsharesX .. there are no peertracks on the blockchain .. only NOTES and ARTISTCOINS! .. and bitassets of course

NOTES is the equivalent to BTSX in the bitshares-X chain

[serejandmyself]

the way i see it as that i can buy with my notes certain peertracks which, if or when, become popular i make money. Also the notes themselve might go up in price just like btsx

[Mysto]

Ok thanks

[oco101]

Your PTS will give you shares in this DAC, or do you mean something else?

Yes but how do the shares make money? In other words how does the DAC make a profit to pass on to the shareholders.

just read the first post in this thread.

2.2.2 Artistcoins
An artist can decide to create his own coin and start selling them to his fans to fund his career. The artist sets the price of his coin and sells it just as he would sell a baseball card. A limited edition digital token with his name and/or his face on it. These newly created, limited edition artistcoins are now distributed throughout the artist’s fanbase and himself. The income generated by his fans buying up the artistcoins will go straight to his wallet, directly funding his career just like kickstarter would. Only, as we will see below, this type of kickstarter is superior in many ways.
Every time a song is sold on PeerTracks.com, a certain % of that income goes into the market and buys up the lowest ask of that artistcoin, effectively cashing out the seller. That artistcoin is “burned” (taken out of circulation). This mechanism achieves the following:
pays the artist for his content
increases liquidity in that artistcoin (paying off the artistcoin seller)
increases demand in that artistcoin
reduces supply of that limited edition artistcoin
The last three points are what can cause a price increase in that artistcoin.
The more music an artist sells on PeerTracks, the more liquid his artistcoin is. Since every song sale is actually a buy order on the books.
If a user purchased a certain artist’s coin and the artist starts selling songs and albums on PeerTracks, that coin is now worth more than when it was purchased. It is in that user’s self-interest to share and promote this artist’s music in order to reap maximum benefit from the holding of that artistcoin. In other words, the fans are incentivized to generate more music sales for the artists they hold artistcoins of.

That describes how the artistcoin will make money not the DAC.
So will PTS holders be given 10% of all artistcoins? Or will the DAC charge a fee for creating an artistcoin?

No you'll not get artiscoins as a PTS holder, you'll get Notes, how many notes we don't know yet.  Notes will make money to shareholders in the same way as BTSX makes money to shareholder right now. But let's wait on Cob final distribution and plan.

[Riverhead]

Your PTS will give you shares in this DAC, or do you mean something else?

Yes but how do the shares make money? In other words how does the DAC make a profit to pass on to the shareholders.

just read the first post in this thread.

2.2.2 Artistcoins
An artist can decide to create his own coin and start selling them to his fans to fund his career. The artist sets the price of his coin and sells it just as he would sell a baseball card. A limited edition digital token with his name and/or his face on it. These newly created, limited edition artistcoins are now distributed throughout the artist’s fanbase and himself. The income generated by his fans buying up the artistcoins will go straight to his wallet, directly funding his career just like kickstarter would. Only, as we will see below, this type of kickstarter is superior in many ways.
Every time a song is sold on PeerTracks.com, a certain % of that income goes into the market and buys up the lowest ask of that artistcoin, effectively cashing out the seller. That artistcoin is “burned” (taken out of circulation). This mechanism achieves the following:
pays the artist for his content
increases liquidity in that artistcoin (paying off the artistcoin seller)
increases demand in that artistcoin
reduces supply of that limited edition artistcoin
The last three points are what can cause a price increase in that artistcoin.
The more music an artist sells on PeerTracks, the more liquid his artistcoin is. Since every song sale is actually a buy order on the books.
If a user purchased a certain artist’s coin and the artist starts selling songs and albums on PeerTracks, that coin is now worth more than when it was purchased. It is in that user’s self-interest to share and promote this artist’s music in order to reap maximum benefit from the holding of that artistcoin. In other words, the fans are incentivized to generate more music sales for the artists they hold artistcoins of.

That describes how the artistcoin will make money not the DAC.
So will PTS holders be given 10% of all artistcoins? Or will the DAC charge a fee for creating an artistcoin?

Like BitSharesX the revenue streams for the Dac :

1) Transaction fees
2) bid/ask overlap
3) Asset creation
4) Shorting related fees
5) Feel like I'm missing some...

[xeroc]

That describes how the artistcoin will make money not the DAC.
So will PTS holders be given 10% of all artistcoins? Or will the DAC charge a fee for creating an artistcoin?

Yet to be revealed ... cob mentioned he wanted to tell us the weekend .. let's see

[Mysto]

Your PTS will give you shares in this DAC, or do you mean something else?

Yes but how do the shares make money? In other words how does the DAC make a profit to pass on to the shareholders.

just read the first post in this thread.

2.2.2 Artistcoins
An artist can decide to create his own coin and start selling them to his fans to fund his career. The artist sets the price of his coin and sells it just as he would sell a baseball card. A limited edition digital token with his name and/or his face on it. These newly created, limited edition artistcoins are now distributed throughout the artist’s fanbase and himself. The income generated by his fans buying up the artistcoins will go straight to his wallet, directly funding his career just like kickstarter would. Only, as we will see below, this type of kickstarter is superior in many ways.
Every time a song is sold on PeerTracks.com, a certain % of that income goes into the market and buys up the lowest ask of that artistcoin, effectively cashing out the seller. That artistcoin is “burned” (taken out of circulation). This mechanism achieves the following:
pays the artist for his content
increases liquidity in that artistcoin (paying off the artistcoin seller)
increases demand in that artistcoin
reduces supply of that limited edition artistcoin
The last three points are what can cause a price increase in that artistcoin.
The more music an artist sells on PeerTracks, the more liquid his artistcoin is. Since every song sale is actually a buy order on the books.
If a user purchased a certain artist’s coin and the artist starts selling songs and albums on PeerTracks, that coin is now worth more than when it was purchased. It is in that user’s self-interest to share and promote this artist’s music in order to reap maximum benefit from the holding of that artistcoin. In other words, the fans are incentivized to generate more music sales for the artists they hold artistcoins of.

That describes how the artistcoin will make money not the DAC.
So will PTS holders be given 10% of all artistcoins? Or will the DAC charge a fee for creating an artistcoin?

[38PTSWarrior]

And the more popular it becomes the more value a Note will have?

E: I see, like with BTSX, the Notes will back the coins or something..

[Shentist]

Your PTS will give you shares in this DAC, or do you mean something else?

Yes but how do the shares make money? In other words how does the DAC make a profit to pass on to the shareholders.

just read the first post in this thread.

2.2.2 Artistcoins
An artist can decide to create his own coin and start selling them to his fans to fund his career. The artist sets the price of his coin and sells it just as he would sell a baseball card. A limited edition digital token with his name and/or his face on it. These newly created, limited edition artistcoins are now distributed throughout the artist’s fanbase and himself. The income generated by his fans buying up the artistcoins will go straight to his wallet, directly funding his career just like kickstarter would. Only, as we will see below, this type of kickstarter is superior in many ways.
Every time a song is sold on PeerTracks.com, a certain % of that income goes into the market and buys up the lowest ask of that artistcoin, effectively cashing out the seller. That artistcoin is “burned” (taken out of circulation). This mechanism achieves the following:
pays the artist for his content
increases liquidity in that artistcoin (paying off the artistcoin seller)
increases demand in that artistcoin
reduces supply of that limited edition artistcoin
The last three points are what can cause a price increase in that artistcoin.
The more music an artist sells on PeerTracks, the more liquid his artistcoin is. Since every song sale is actually a buy order on the books.
If a user purchased a certain artist’s coin and the artist starts selling songs and albums on PeerTracks, that coin is now worth more than when it was purchased. It is in that user’s self-interest to share and promote this artist’s music in order to reap maximum benefit from the holding of that artistcoin. In other words, the fans are incentivized to generate more music sales for the artists they hold artistcoins of.

[Mysto]

Your PTS will give you shares in this DAC, or do you mean something else?

Yes but how do the shares make money? In other words how does the DAC make a profit to pass on to the shareholders.

[38PTSWarrior]

What happened?

[nomoreheroes7]

Glad I grabbed a small chunk of AGS 2 days prior to close. Just in case something like this were to come along...

 

[38PTSWarrior]

Your PTS will give you shares in this DAC, or do you mean something else?