Qtrax: new free, legal music downloads! Supported by advertising... (1 Viewer)

[City Champ]

bah, my transfer didnt take affect. with my luck, by the time my money is in the account, this damn stock will be at .30...

 

[bclemms]

bah, my transfer didnt take affect. with my luck, by the time my money is in the account, this damn stock will be at .30...

Do you use USAA?

I had the same thing happen because they had a system problem but luckily had some stashed away in a savings account I opened with them. I had to call but they did an instant transfer.

 

[City Champ]

blln, its started really slow and down 40% and in the last 10 minutes gained all that ground back and is starting to creep...

 

[Beast]

Anyone seen any forecasted prices for this stock if the labels agree?

 

[City Champ]

and now it creeps into the green...

 

[Leastbay]

anyone able to search up songs?

 

[City Champ]

up 7.62% and climbing...
dammit i wish it didnt take 24-48 hours for that money to move...

 

[Beast]

and now it creeps into the green...

I'm really tempted to buy in on this.. It kinda worries me that they didn't have their stuff all together before going public with announcements though..

 

[City Champ]

that is a worry, but honestly, if you can even actively trade music for a day, the stock will boom and you can sell off the original investment and hold whats left to see what the company will do. sort of like playing with the casino's money...

 

[west bank chris]

I would be very worried about this stock.

I was thinking about buying this but...

all 4 major record labels have come out and publicly said they have no deals with Brilliant/Qtrax.

Also, I downloaded the software. Not only can you not download, but it's having trouble playing the songs I already have on my PC.

It seems like this company has a lot of issues to deal with before it becomes legit.

With that said, the second a record company deal is announced, I would buy as much of this as I could afford.

 

[bclemms]

Anyone seen any forecasted prices for this stock if the labels agree?

I doubt any forecasts would be accurate since so many things are in the air. I originally thought to download the songs you had to listen to an ad or even possibly download the ad with the song. From what some are saying you just have to deal with ads in the background while surfing. This will certainly have a role in just how much potential this company has. We also don't know what the record companies are wanting in the deal. I would think they are requesting a large portion of the ad revenue that would be generated.

This company threw a huge launch party with some big names celebrities, claimed they had deals in place with the 4 major record companies and announced a fully functional launch set for Monday. Since then they delayed the website, announced they don't have the contracts in place but instead are negotiating and people still can't download music.

The stock jumped 100% between Friday and the first couple minutes of trading on Monday. Then the truth came out and it dropped down several hundred percent. Then a Sony Music Executive said they had a deal in place but it expired and they are working on a new deal and it is very close to done and the stock bounced back. This morning it was down big right at the open and it bounced back real fast.

The company certainly has the contacts and looks to be well funded. IMO the record companies would have thrown a fit if their wasn't a lot of truth to what qtrax claimed and the company does have some 25 million songs from even the most obscure artists on the site. I can't imagine how they got those songs up if the record companies aren't behind this in some way. I mean, some kid isn't uploading 25 million songs to a site especially when a huge portion of those songs can't be downloaded anywhere else on the net.

With so many half truths there is no way anyone has a clue unless they have inside knowledge.

 

[Beast]

The company certainly has the contacts and looks to be well funded. IMO the record companies would have thrown a fit if their wasn't a lot of truth to what qtrax claimed and the company does have some 25 million songs from even the most obscure artists on the site. I can't imagine how they got those songs up if the record companies aren't behind this in some way. I mean, some kid isn't uploading 25 million songs to a site especially when a huge portion of those songs can't be downloaded anywhere else on the net.

Agreed.. I do think we'd be hearing more of a stink from the record labels if there wasn't some truth to the deals (at least being close to having a deal).. They'd be threatening lawsuits and all sorts of things..

I read somewhere that one of the guys working for Qtrax basically got some nods of approval from some of the record company people and that's why they pushed forward with the announcement.. Then, the record companies started backing out because the deal wasn't totally complete..

 

[west bank chris]

bclemms, where are you hearing that quote from the sony executive? not calling you out, just curious.

 

[Beast]

From what I read (have to see if I can find the link), I think Sony had a deal in place previously, but it was a different incarnation of the software.. The deal has since expired..

I think maybe the music industry got cold feet at the last minute.. They've fought this thing for so long that they don't want to relinquish control yet..

 

[bclemms]

bclemms, where are you hearing that quote from the sony executive? not calling you out, just curious.

It was in one of the articles I read but I can't seem to find it now. It did not name a source just that it had spoken to someone higher up with Sony BMG and said they have the deal in place but it has not been officially completed. The article did not say when, if or what was taking place.

Qtrax did have deals in place for all 4 big labels but they have expired according to Reuters. I would take everything with a grain of salt because there has been so much false information. I will try and dig up a link but google news has about a thousand hits and I have no idea which article it was in.

I also read in an article that qtrax is claiming it was blindsided by competition and they didn't intentionally try to mislead people.

How common is it for a company to have a launch party on a Sunday? This kind of stands out to me because if they were doing it on a Sunday then the record companies might not have a chance to deny qtrax claims until Monday morning. The whole thing is just really odd.

On the other hand the music industry would have exploded if all this happened and they didn't know anything about it. I think we are just getting a bunch of half truths from each side.