Bitcoin for Rockstars
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Bitcoin for Rockstars
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Re: Bitcoin for Rockstars
#2Bitcoin does not solve this issue, a blockchain does. That's what the guys at Ethereum for example are trying to achieve: vanilla blockchain, build anything on top.
Re: Bitcoin for Rockstars
#3Well, the music industry wanted copyright with "no formalities", and that's in the TRIPS agreement. No more need to put a copyright notice on something, or send a copy to the Library of Congress.
Now the industry is whining that keeping track of who owns what is too hard. They dug their own hole. Let them deal with it. This is so typical of the music industry, which has been shooting itself in the foot since the invention of the tape recorder.
The article seems to be proposing some kind of a micropayment system, where every time someone buys a track of music, all the sub-payments to the various contributing parties get cranked out. That's not only too complicated, but the transaction volume would be huge. Bitcoin is not web-scale. The Bitcoin block chain is currently limited to about 7 TPS.
This idea comes back now and then. Ted Nelson's Xanadu had a micropayment system something like this. A bunch of fanatical libertarians tried to make it work. The free World Wide Web won out.
The amount of effort that the computer industry puts into keeping the music industry happy is excessive. Apple or Google could buy out the entire music industry for cash.
Re: Bitcoin for Rockstars
#4Bitcoin does not solve this issue, a blockchain does. That's what the guys at Ethereum for example are trying to achieve: vanilla blockchain, build anything on top.
Counterparty could solve this, on Bitcoin's blockchain [1]:
> Counterparty works by storing extra data in regular Bitcoin transactions, which makes every Counterparty transaction a Bitcoin transaction, albeit a very small one. When Counterparty transactions are broadcast to the Bitcoin network they are verified by Bitcoin miners and saved in the Bitcoin blockchain to make a secure, verifiable record.
Re: Bitcoin for Rockstars
#5songcoin is another interesting option where consumers get to transact and "invest" in artists or songs... "Songcoin Wants to Be Music’s Alternative Currency" http://www.billboard.com/biz/articles/news/digital-and-mobil...
Re: Bitcoin for Rockstars
#6Well, the music industry wanted copyright with "no formalities", and that's in the TRIPS agreement. No more need to put a copyright notice on something, or send a copy to the Library of Congress. Now the industry is whining that keeping track of who owns what is too hard. They dug their own hole. Let them deal with it. This is so typical of the music industry, which has been shooting itself in the foot since the inve…
I really wish we'd start calling it the music distribution industry instead of the music industry. Except for the musicians and the recording studios, it's never been about music. For everyone else, i.e. the overwhelming majority of those working in the industry, it's about sourcing a product an distributing it.
The "industry" is just a supply chain for auditory experiences, and when consumers became distributors as well, it cut out the supply chain folks. That is who is ultimately fighting back in all of this.
Re: Bitcoin for Rockstars
#7If your sole goal is to store information in the blockchain, why not use Namecoin? It's almost as secure as Bitcoin, and specializes in storing small bits of data in it's blockchain.
Re: Bitcoin for Rockstars
#8Well, the music industry wanted copyright with "no formalities", and that's in the TRIPS agreement. No more need to put a copyright notice on something, or send a copy to the Library of Congress. Now the industry is whining that keeping track of who owns what is too hard. They dug their own hole. Let them deal with it. This is so typical of the music industry, which has been shooting itself in the foot since the inve…
I don't think he's proposing a micropayment system, more like a universal system to keep track of who worked on what song.
I think he's saying Katy Perry sends a song to Spotify along with a bitcoin-type address and at the end of the month they send the payment to that address, which divides it up between all the writers, producers and rights holders.
Re: Bitcoin for Rockstars
#9This idea is revolutionary. It would piss all the right people off if it works and also ensure that all the right people get transparently compensated for what they do.
Re: Bitcoin for Rockstars
#10Well, the music industry wanted copyright with "no formalities", and that's in the TRIPS agreement. No more need to put a copyright notice on something, or send a copy to the Library of Congress. Now the industry is whining that keeping track of who owns what is too hard. They dug their own hole. Let them deal with it. This is so typical of the music industry, which has been shooting itself in the foot since the inve…
> Well, the music industry wanted copyright with "no formalities", and that's in the TRIPS agreement. No more need to put a copyright notice on something, or send a copy to the Library of Congress.
The US abolished the notice and deposit requirements via the Berne Implementation Act of 1988, almost a decade before TRIPS.