bittunes… an independent digital music market
This page is intended to provide an overview of the bittunes project, primarily based on the way the system will function for Artists and Fans. However, follow this link if you would like to know more about the history of the project and how it developed. ~ OK, firstly in our proposed system there are two kinds of users, a) Copyright owners (bands, songwriters etc) We call these ‘Music Makers’ and b) Fans (distributors) We call these ‘Music Movers’. Secondly, and this is important, bittunes is an ‘Independent Digital Music Market’, which means that the bands and songwriters which provide their music to bittunes, must own the copyright of the music they seed into the network. We will exclude all music that the record industry (RIAA) is so fussy about being shared openly on the internet. So, this will be a fully legal P2P music file sharing network… but it gets better!
You will earn money, in %’s of bitcoin*, by distributing music on the bittunes network!
This application will allow ‘music makers’ to automatically receive royalties in Bitcoin or other digital currency, whenever and wherever a music sale takes place, (and because this is a potentially global P2P network, that is significant). Royalties will also be shared with ‘music movers’ in proportion to the percentage of digital data they contributed to the upload to the new purchaser of the music track. Technically, as soon as the new buyer of the music track has purchased the song, they themselves become a music mover for that song, and will start generating revenue from that song, whenever they contribute to another upload of that song to a new buyer.
(*the system will be digital currency agnostic)
to make things easier all payments will be in $US… but all earnings will be in digital currencies.
Note, this means that music fans can effectively become the new distribution channel for independent music, and instead of a music purchase being a ‘sunk-cost’, it in fact becomes an immediate investment, and the more music you buy, (if that music is in demand) the more money you will make. We will also provide you with some very cool ways to know which music is in demand, so that your music purchases will earn you the highest returns.
1st Principle: Only authorized bittunes songs can be traded on the bittunes network.
2nd Principle: Music to be traded must be uploaded by copyright holder or approved representative.
3rd Principle: Artists ‘Music Makers’ will get a fair royalty with the potential to make a good living, hopefully.
4th Principle: The Fans ‘Music Movers’ will also make money by uploading music to new buyers.
(more information will be posted here soon)