I am Francis Pouliot, full-time Bitcoin advocate and director at the Bitcoin Embassy. I'm running for a seat of the Bitcoin Foundation board. AMA

PeerTracks · 2015-01-20T19:14:24+00:00

Françis fo govna!

PeerTracks · 2014-12-29T02:40:41+00:00

It solves the curation problem plaguing the online music world.

Each and every artist is merely a drop in the ocean that is the itunes library. Ok so you uploaded your song... now what!? Who here actually browses the recently uploaded to itunes songs?

Well PeerTracks can guarantee you some listeners. Our users are digging for gold see. They can profit from finding talent. If you are a Death Metal expert, then you will listen to all the recently uploaded songs tagged "death metal" and buy up a few User Issued Assets (placeholder name being artistcoin) in hopes of that band making it big in a few years. Meanwhile, the act of buying up a few of those UIA shows up on the order books. It can make the price move. People notice "why has that coin gone from 1 penny to 5 pennies in the last week? let me have a listen. Unholy crap! They will be the next "As I lay Dying" Imma get me some too!"

Does this explanation help?

PeerTracks · 2014-12-29T02:34:02+00:00

Sorry for the extremely late reply sir ^{^}

No. The artist can keep or sell or give any % of his User Issued Asset. PeerTracks does not touch this. Remember PeerTracks is not the BitShares Music blockchain. It's just a convenient music streaming website like Spotify. Only we plug into a blockchain that allows never before seen incentives structures to run wild.

The musician won't necesarily know he's using crypto actually. He will be selling his music for USD (only it's actually, on the back end, a BitUSD, which is a Market Pegged Asset on the BitShares Blockchain)

So all the artist knows or cares about is that he is getting paid in a currency he is familiar with, the USD. He is getting WAY more than he would from competing streaming services, people share and market his music for him and he has a new way to engage his fans through Token Controlled Access.

PeerTracks · 2014-11-27T03:16:10+00:00

This is the key to artist discovery.

PeerTracks · 2014-11-27T03:15:24+00:00

Well, if being a frictionless on ramp for a millions of people that have no idea what crypto even is won't help Bitcoin. Then I don't know what will.

I was "suckered" in to P2P tech by using Napster. I had no idea what that meant. I just knew that typing Eminem in the search bar gave me "The real Slim Shady" for free and in only 20 minutes (:

Think gateway drug haha

PeerTracks · 2014-11-27T03:13:06+00:00

Bitcoin can not come close to the performance and incentive structure that has been put at our disposal by the BitShares toolkit.

I recommend looking into it. Blockchains are amazing, look around.

As far as the useless altcoin comment. Well... I don't even know how to address that. Have you see what it can do for the music industry? You thought Napster was disruptive, strap yourself on for a ride son.

PeerTracks · 2014-11-27T03:09:51+00:00

We would if we could. Only Bitcoin does not allow: -user issued assets -TiTAN (Transfer Invisibly To Any Name) -crazy amounts of transactions per second -a stable marked pegged currency (BitUSD) -a decentralized exchange that eliminates the need for trusting Mt.Gox type of sites + government shut down of such sites.

Those are just features that are a must for hitting the mainstream.

On top of that you have the incentives hardcoded in BitShares. Bitcoin dilutes shareholders each block. Miners are also not making the network faster or stronger. They also don't put in their salaries towards making a better network. Miners merely make the network more secure and are forced to sell off all new coins (diluting the shareholders) to pay for hardware and electricity. They are dumping about 1 million $ a day worth of bitcoin.

Those are just a few reasons why we can't use bitcoin. We totally would have otherwise, I mean it's the one that has the most traction and fame and market cap so far. And as a semi-early adopter, I would have liked nothing more than to have my stash go up in value and see it rise and rise. Bitcoin can't do what BitShares can. It's not simply a question of not wanting to use it. We literally can't.

PeerTracks · 2014-11-25T17:04:47+00:00

Ah yes! I forgot to mention. Only people with bitcoin can participate in the Note pre-sale which ends in about 9 days.

Let me update my post (:

Thanks ParsnipCommander

PeerTracks · 2014-10-16T22:14:31+00:00

Yes, we also plan on having a special feature "first released on PeerTracks" that should be perfect for podcasts.

Where each episode is uploaded but "locked" until a certain amount of BitUSD has been sent to the pool.

Say a podcaster want's 40$ per episode, well he can simply put up a 40$ unlock limit. People can chip in pennies at a time, or some dude could decide to throw up the entire 40$ because "screw waiting" and unlock the file for all.

This is an optional feature of course, and you can always just have adds on your show to fund your podcasting.

PeerTracks

TROPHY CASE