demosceners using choon to earn cryptocurrency from streams?

category: music [glöplog]
added on the 2018-07-31 20:28:40 by Gargaj Gargaj
If only dupe prod add removals were billable in blockpanther! blkpanther would be poor as fuck.
added on the 2018-07-31 22:24:38 by havoc havoc
Why not pay the artists with actual money?

fizzer: i imagine that'd be quite expensive

added on the 2018-08-01 10:58:18 by natalia natalia
The only way 10000 choon can be equal to 1 ETH is if they sit on a bunch of ETH they want to give away. Otherwise I don't understand how they can claim that. I guess they hope that they will be able to list this crypto on an exchange and that people will buy it. There is no guarantee for any of this to happen.

The price of choon is what people are prepared to pay for it, as always.
added on the 2018-08-01 11:56:34 by El Topo El Topo
The only way 10000 choon can be equal to 1 ETH is if they sit on a bunch of ETH they want to give away.

Not really, valuation is external. The value of anything new is assigned to by people owning established currency - see also initial public offerings of companies: the company may or may not be actually worth the amount of value the shares are sold for, but people are taking the risk to invest anyway. The ETH value of whatever new currency choon came up with is simply a valuation by people who are willing to exchange it for ETH.
added on the 2018-08-01 12:11:24 by Gargaj Gargaj
Ok, so it's some kind of self-estimation of worth? Well, I hope you early-choon-adopters the best of luck, I'm not shitting you.
added on the 2018-08-01 13:42:51 by El Topo El Topo
Thing is, ETH is already an "estimated" valuation, in that it's not a currency, it's a market asset, so a "choon" would be an estimated valuation based on another estimated valuation, so imagine the fluctuation a normal currency goes through, and then multiply that with itself twice to get an idea how much it'll fluctuate.

The additional problem is that your currency is only worth anything if there are buyers, and as the cryptocurrency market begins to grow bigger almost exponentially, crypto types will compete against each other and if yours isn't the creme du jour, it's very likely that you can amass a large amount of tokens that noone is willing to buy because there's no use for it.

I've found a post about someone's predictions on how much a token will really be worth; it asserts that with "5% Market share" (which is an unrealistically _massive_ stretch, just consider that Tidal has 5% streaming market share and has names like Jay-Z and Kanye behind it, whereas the only person Choon can offer right now is Darude - no offence), you'll get $0.5 per "note", but since you don't know how many notes you get per stream, you have to divide that down even more, so even if you can somehow exchange it I wouldn't be surprised if you end up with Spotify-levels of returns.
added on the 2018-08-01 14:17:16 by Gargaj Gargaj
that's pretty much a correct analysis I would say
added on the 2018-08-01 15:04:25 by natalia natalia