That is very true Don. There's definitely some legal issues with buying data that's owned by the artist that created it(music). If the data was actually sold to someone and re-posted on a different site without the artists consent. ANYBODY could take that too court, and probably win a nice chunk of change if they really wanted to go through all that. Will they? Probably not. I'm not a lawyer, obviously.. but i do have lawyer friends and i could find out more details about this if needed.
Now, if there was some sort of clause in the terms and conditions of versionist that stated that anything you upload becomes property of the website and you forfeit your rights to your tunes. Well, that's a different story. But i doubt that a website like that would make it very far.
I believe there's a fine line between buying the data from the site, and buying the "site" as a whole, where the purchaser and the seller can remain legal and legit. But again, I'm not a lawyer and i would have to find out the facts and leave my assumptions at the door.
As with everything in life, nothing lasts forever. Things change, people change and its just a natural progression and cycle in this thing we call life. While I'm all for restoring the history and keeping the spirit alive. I'm also for new chapters and beginnings. When one windows closes, another one opens.
