Quote from: Seuss27 on October 04, 2017, 03:57:56 PM

Quote from: mbdmbn on October 04, 2017, 02:19:35 PM

Quote from: Seuss27 on October 04, 2017, 01:04:28 PM

Quote from: ConvertThisFile on October 04, 2017, 03:51:04 AM

Quote from: Seuss27 on October 03, 2017, 06:35:51 PM

Quote from: jpdorn on October 03, 2017, 05:33:00 AM

Who will buy all the $MUSIC? Tippers?

This would be funnier if it wasn't true. This model as it stands is broken. There is no incentive for anyone to ever buy any $MUSIC. This is unfortunate because I think that the digital pay-per-play model enforced by smart contracts is a wonderful fit for crypto but the economics of this thing aren't balanced right.

When you pull the UBI money straight from mining you break the incentive loop for the listener to fund an account.

A better play would be to partner with existing music providers to build the pay-per-play or personal right-to-use model into existing music platforms. (Easy to type on a forum, hard to execute IRL....). In this model people would buy the currency to use to pay for the rights to play the music on the platforms, but now the platforms all need a piece of the pie as well.

Ah well, enough of my ignorant rambling...can anyone explain how this model does anything but loose steam after deployment?

Seuss

Mining won't be feasible for ever, and in fact, not for much longer. It's going to be hit by the ETH ice age difficulty coming up end of year. People seem to forget mining for this coin will be done shortly so new supply will not be a thing.

The ice age doesn't help with the way this model is laid out. When people stop mining the UBI pool stops getting funded which means that the free money for the artists stops rolling in. Scarcity may drive the price up but in essence we are right back where we were before UBI except now there is less mining and there is *STILL* no incentive to buy the coin.

Don't get me wrong, I am accumulating this coin and I hope to see widespread adoption and success, I just don't quite grok the economics of it yet...

-Seuss

It's all laid out here https://www.reddit.com/r/musicoin/comments/6ysbaw/latest_community_address_upcoming_ubi_model_and/ and here https://www.reddit.com/r/musicoin/comments/6y45sw/upcoming_releases_for_month_of_sept_oct_2017/

What I don't understand is why you're accumulating this coin if you don't understand the economics of the coin you're accumulating.

At the very least you're contradicting yourself, and at worst, you're fudding the coin you're invested in. Not very economical logic coming from you!

The FUD was my own, looking for some relief, and your links are somewhat helpful in clarifying some of the points.

I am a miner with a small operation. Musicoin is one of the coins that fits the target profile for my setup. When I say I am accumulating, that is the vector I am taking. The questions were posed to try and firm up my understanding of the project and help me make the determination as to stick with this coin or move on to something else.

If I were trading fiat for coin straight up I certainly would have done far more due diligence before investing, with mining I tend to have a larger risk appetite.

Thanks again for the links.

No problem! Glad I could help and best of luck with your mining.

Keep mining this coin, it has a great future!

Great projects take time and careful planning, and they also listen to their userbase, which is exactly what you see with this project.

Try not to get emotionally involved and dump everything you have, it's very early days yet and people fudding this coin are only looking to take up your position.

I expect by 2020 this coin will be worth a considerably lot more than it's currently trading at now, so right now is a great time to be mining and buying as much as you can.