Post
Topic
Board Economics
Re: Is it time to give Bitcoin a Use Value?
by
iamback
on 09/01/2015, 00:40:00 UTC
Blockchain as file storage is a fundamentally bad concept because it is incredibly expensive and the ledger provides a poor compromise between redundancy and cost.

Also it doesn't allow for decentralized competition, innovation, and diversity of offerings. Thus it is antifragile a.k.a. the antithesis of resiliency with incremental failure, i.e. fragile.

The utility of the block chain is for decentralized consensus. You don't need consensus about which files you want to store in the cloud.