Quote from: matt608 on February 21, 2014, 10:49:24 AM

Quote from: NielDLR on February 21, 2014, 10:43:31 AM

But the way I see it is that the decentralized (and also amorphous) band idea hasn't been done before. The incentive to such a project would have been hard in itself because few people want to attribute their time and energy to something where they won't get any easy gains. When you add a cryptocurrency to this idea, it becames a realization of the idea as a commodity. As stated on the site: "The cryptocurrency also means that if the collective releases great music, we ALL become successful: enabling us to continue churning out great music to share and remix. It is music, decentralized: attempting to be the world's biggest, and most diverse band."

But how does the whole collective become successful if great music is released? If the musician doesn't buy or mine any Cyperfunks they don't gain anything from Cypherfunks going up in value. Musicians have to invest in Cyperfunks to have the chance to gain anything and if it 'takes off' then whoever invested earlier gets the most, not the best/most highly contributory musicians.

That is true, but you can get Cypherfunks through contributing music and then someone tips you. Successful songs will hopefully garner more interest and get more Cypherfunks. When you hold Cypherfunks it is then in your interest to help the collective grow by encouraging other songs and musicians. It's hopefully a positive feedback loop. So, if I'm on the outside looking at Cypherfunks and see people sharing tips and contributions, then I would like to be involved, then either I buy/mine or make music myself. Does that make sense? I'm investing in my own music, but also the potential of other awesome musicians and the producing community.