Tuesday, October 04, 2011

[ejwzpfco] Collectible Bitcoin and music sales

Is it possible create collectible bitcoins?  Assuming the public key of a celebrity can be established, I think so.  Then the value of that bitcoin is (partially) in its valuable signature, perhaps made more personal because it is a transaction from the celebrity directly to you on such and such a date.

This might be one donationware method that a musician can make money selling music online, even with weak copyright protection: selling downloadable music bundled with a signed bitcoin at higher than market price.  The buyer gets a time-stamped unforgeable personal connection with the idolized artist, a bitcoin formerly owned by him or her, much like signed memorabilia.  Provenance is proved by the bitcoin distributed database.

Even if the celebrity fails at proper key management, because of the time stamping, bitcoin transactions stamped before the key breach, or in general, "earlier", maintain value.

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