Bitcoin Mania

Musicians, Artists Invited to Put Digital Goods Up for Bitcoin on CoinDL

A virtual currency for virtual goods.
screenshot 131 Musicians, Artists Invited to Put Digital Goods Up for Bitcoin on CoinDL

CoinDL.

A new Bitcoin commerce site, CoinDL, makes it fast and easy to buy and sell virtual goods from music to avatars. Traders on Wall Street may be speculating with Bitcoin, but it’s efforts like CoinDL that truly bolster the budding digital economy. CoinDL offers a marketplace where you can buy digital goods with digital money: wallpapers, ringtones, avatars, music, videos–basically anything that can be downloaded. “Our downloads are fast, easy, and for Bitcoin only. Scan our QR codes for maximal geek arousal,” the site says.

CoinDL was created by David Sterry, who formerly operated the Bitcoin exchange ExchB. ExchB closed in October as it faced increasing resistance from banks.

“People need to have a way to have a positive experience with Bitcoin,” Mr. Sterry said. “CoinDL enables people to buy digital items for Bitcoin, but also letting them do it really quickly. If things are virtual it can be very easy.”

Mr. Sterry sees CoinDL as a potential solution for independent artists to sell their stuff online. CoinDL charges sellers a flat rate of 20 percent. The site launched with songs, a ringtone, a few wallpapers and a video, mostly Bitcoin-themed. But Mr. Sterry is hoping to add more music, ebooks, podcasts and photos. He’s obviously bullish on Bitcoin, pointing to the anticipated change in the software that will make Bitcoin harder to mine and therefore stabilize the economy somewhat. Currently, 50 Bitcoins are created every ten minutes when a “block” of transactions is recorded and added to the master log of transactions. When the total number of Bitcoins issued reaches 10.5 million, which is estimated to be later this year, the “block reward” will drop to 25 Bitcoins every ten minutes.

“I think back to when Twitter started,” Mr. Sterry said. “Twitter had a lot of problems and they still had the fail whale a lot of times, but those problems kind of kept them in people’s minds somewhat. So I don’t see the problems with Bitcoin as 100 percent bad.”

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