Today, a number of file-sharing (P2P) networks provide users with powerful tools for file exchange. Nearly 9 million P2P-users are exchanging files right now. Over the period of a year, over 80 million P2P-users take part in illegal file exchange — already a vast market!
On the other hand, because of illegal file-sharing, music companies lost more than $4.6 billion worldwide last year, states the Recording Industry Association of America (RIAA), and movie industry officials pegged their annual losses from bootlegged films at more than $3.5 billion (http://p2pnet.net/story/2081).
P2Market has developed an innovative solution for the problem of illegal file exchange. Now the complete platform for a new Internet marketplace is in place. P2Market has already reconstructed software for two main P2P networks: Gnutella and BitTorrent. The next aim is reconstructing other existing networks by adding copyright control in its data transfer process.
Owners of copyrighted works can now register their copyrighted material on the P2Market website and set trade parameters for their files — including a minimum price and copy-tax — over which they have complete control. No one on the market can sell a file cheaper than the minimum price, which goes directly to the copyright owner. If the seller markets the file(s) for higher than the minimum price, the copyright owner also receives a percent of this difference, called a copy-tax. The remainder goes to the user (seller). A file can be downloaded/shared via the legal file exchange network only if the copyright owner sets the trade parameters and permits its distribution.
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Gnutella and Bittorrent are open source networks sooner or later these programs will just be banned by updated clients.
I still suspect scammery of some sort here irregardless of this press release from the company.
Let’s assume everything is legit and exactly as they describe though. This is the way I understand it. You download a filesharing program such as Limewire. You then download software from them so they can keep track of everything you do on the filesharing program. You send them your credit card information and put a certain amount of credit in your account. You open your folder to make music trades for cash.
They seem to be claiming they have pre-existing contracts with copyright holders and there is a minimum amount you can charge on each file set by the copyright holder. I’m going to assume this is the same price other commercial digital music sellers such as Itunes are asking If you can somehow convince someone to buy your file for more than that you can keep the money. They take 10% of the price and charge you an extra 5% for the credit card transaction.
OK question…How is this any different than dealing with an established commercial digital music seller such as Itunes or Napster. You don’t get the DRM but you get Limewire speeds and problems. You’re not dealing with an established reputable company. That’s also a disadvantage.