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0 sats \ 0 replies \ @TresDMan 21 Mar \ parent \ on: Is “Value for Value” fatally flawed? bitcoin
This is an interesting modification to v4v. I guess you could present it as you wish, as long as it's working for you.
Without having read it yet, Charles Dickens' "David Copperfield." He's a master storyteller. Great Expectations is still one of my favorite books and I read that all on my phone (not the worst way to read a book, but it's up there) when I used to live in San Fran and relied on public transportation to move around. Lots of waiting for the bus/train to arrive, or waiting to arrive at my location, opened up lots of time to read.
I've always wondered if the value extracted from intellectual property rights can live fruitfully alongside the v4v concept.
In a literal sense, they can coexist, but would that prevent either one from fully flourishing?
Is the intricate web of intellectual property rights and how artists eventually receive their royalties, at odds with the concept of v4v?
Music example -
My (very big) assumption is that Wavlake is only doing deals directly with artists. They take their cut, and the artist's song is now available for streaming and v4v payments on their site.
In most cases, I also assume there aren't labels involved, but I do think there system of split payments could account for their involvement.
What may not be happening is reporting to the PROs (BMI, ASCAP, etc.) which tracks public performance uses for the songs they represent. This would activate artist royalties when reported. The PROs are just one entity amongst various that should be reported to to receive proper remuneration for the use of songs (as it relates to intellectual property rights.)
If Wavlake artists are not affiliated with any of these entities, then it's all good. If they are, and Wavlake is not reporting, then the artists are surely missing out on their royalties.
Just to be clear, I'd like for this to come across as just some thoughts I've had related to v4v, not as a complaint.
If Wavlake begins partnering with labels and reporting to all appropriate entities, will the costs then become prohibitive for them? Or can these two concepts coexist?
Does this also mean that there is a whole swath of artists that now exist outside of this "music industry" system? I know they've always existed, even before v4v was given a name, but just humor me for a moment.
If the concepts are mutually exclusive, is the existence of one better for artists than the other?
You can now take these questions and apply them to all forms of intellectual property.
I tried not to get too into the nitty gritty of music industry specifics, just so I could get my point across as clearly as possible. Hopefully, I achieved this...
😁 I don't think I've ever come out of those sales without at least one new book in hand. I'll tell myself that I won't buy one and that I must finish reading more of the ones that I already have at home. That never works!
I had rezap this one after re-reading it. The link to Bitcoin.design at the top is also super helpful for understanding what's going on.
I have a couple of specific questions that might help me understand this even further -
I'm opening my first LN channel through Alby Hub, but it's requesting a specific amount of sats (avg of 20k) to open the channel. It then says i'll receive 1,000,000 sats in incoming liquidity.
How is that ability to receive 1,000,000 sats right off the top possible?
Can I still set my outbound liquidity to any amount I want?
Lastly, just a thought experiment - Is there any way to fund the opening of the channel with sats that are currently sitting in my SN account? Or do I first have to fund the opening of the channel, to then be able to receive those sats?
Thanks for all your help!
Funny, I had the same experience. I think I tried Insomnia and IT, but couldn't get into them.
Then, a couple of decades later, a friend of mine gifted me the first book in the Dark Tower series. I read it and it sort of grabbed me, it was different... I then re-read it a few years after that and I was finally in.
I think the Dark Tower series is one of his best within his catalog. Salem's Lot was another good one that I ended up reading because of the Dark Tower series. All of them are a strange blend of sci-fi and horror.
I'm currently reading the final book in the series. It's been a long journey.
I feel you. I also just read through the comments and I think I'm actually a bit more confused.
Just based off of @koob's first comment, is this the way self-custodial LN payments work everywhere else, or is this clunkiness occurring because it's a new implementation for SN?
If it's like this everywhere else, I'd imagine it will be hard to gain widespread adoption. It takes a lot of research to get everything working correctly. That's not such a foreign concept for me, but it can feel very daunting sometimes.
Neither did I, until I read this series. It's about 7 or 8 books, but there are other King books connected to the lore in some way. Some say that all the King books are connected to the Dark Tower series in some way or another.
Would you consider Stephen King's Dark Tower series science fiction / horror? I feel like it fits right in.
Some excellent storytelling in this piece. This potentially could've been the driest story ever, but you inserted some interesting personal stories with all of the financial facts which kept me intrigued and learning all at the same time.
It's always funny to be reminded how much the U.S. Dollar is still used for illegitimate transactions globally, and yet the media would have you think otherwise. Hah!
BTW. I've seen robosats mentioned all throughout SN, but in just one sentence you helped me understand a perfect use case for them. Strong closing!
I have a soft spot in my heart for Japanese culture and history. I love these type of open-ended discussions. Great work on this!