Bitcoin and Sound Money: The Musician’s Only Escape from a Corrupt Industry

Watch Bitcoin and Sound Money: The Musician’s Only Escape from a Corrupt Industry - Rizzle on Dailymotion

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00:00Bitcoin and sound money.

00:02The musicians only escape from a corrupt industry.

00:06Major labels trap artists in recoupable loan cycles while streaming platforms pay fractions

00:10of pennies per play, but Bitcoin's peer-to-peer payment system cuts out these predatory middlemen

00:16entirely.

00:17Your streaming royalties of $0.003 per play vanish into complex calculations and administrative

00:23fees, leaving most musicians financially dependent on the very system exploiting them.

00:29While the industry generated $47 billion in streaming revenue last year, artists saw minimal

00:34returns from opaque royalty structures.

00:37These deals trap artists in debt cycles, never really allowing them to own their success.

00:42Traditional distributors restrict artist-audience relationships.

00:46Rebelling risks losing platform access and copyright protection.

00:49A lose-lose situation keeping artists trapped.

00:53Blockchain technology facilitates transparent revenue sharing, minimizing middlemen's influence

00:57and enabling direct fan-to-artist payments via Bitcoin, ensuring full control over music

01:02and fan data.

01:03Smart contracts automate royalty distribution without administrative costs.

01:08This practical shift is embraced by artists like Snoop Dogg and Ghostface Killa.

01:13By managing their finances, they gain artistic autonomy, illustrating crypto's transformative

01:17potential.

01:18Platforms like Audius illustrate how decentralized streaming removes intermediaries.

01:24Artists crowdfund by issuing digital tokens, transforming fans into stakeholders with perks.

01:29Direct tipping, exclusive content access, and NFT merchandise offer diverse income sources beyond

01:35typical sales.

01:37Your audience evolves into your record label, aligning their benefit with your success.

01:42Cryptocurrency's volatility and technical barriers prevent universal adoption, while legal

01:46challenges remain unresolved.

01:49Crypto prices are unpredictable, and many artists struggle with blockchain technology.

01:54Bitcoin enforcement issues and energy consumption concerns persist.

01:58Think of this as a parallel creative economy.

02:01Bitcoin won't fix every issue overnight, but it offers artists genuine choice and an escape

02:05route from exploitation.