Giving 5,000 artbyte coins to featured talents is good but 5,000 is like $40 on today's market. Yes only $40.
You would turn down free altcoins with some value?
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So in three years the coin/technology did not grow. I don't think talented individuals would want to gather around with development and progress as slow and as predictable as artbyte.
They don't have a dedicated developer which does make it hard to progress technically at a rapid pace.
I am interested in the idea of split payments via smart contracts. For example, a music download has many different people involved. With a smart contract, you could easily split the payment amongst all the different individuals immediately. No quarterly accounting required. No ASCAP. This makes paying artists extremely easy. Will be very disruptive to the music industry and remove the inefficiencies associated. You could even pay sales tax by splitting state, county, and local jurisdictions in the same way.
I can also see ABY used for art auctions. You stake your ABY via smart contract or Lightning network. If you are the highest bidder, you win the auction and pay with your staked ABY. If you do not win the auction, you get your ABY returned to you.
Since ABY is scrypt based, it can leverage Litecoin features and be involved in atomic swaps with Litecoin or even Bitcoin. Then sweep to fiat. LiteBit.eu already lets you sweep from BTC/LTC to fiat. USA, you'd need an exchange like Coinbase to get crypto out to USD.
There are some interesting possibilities on the horizon.
