Quote from: BreathOfZen on January 09, 2015, 12:44:39 AM

Quote from: iamback on January 09, 2015, 12:40:00 AM

Quote from: DeathAndTaxes on January 09, 2015, 12:08:26 AM

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.

It actually allows for an incredible amount of competition. You can store your data on Bitcoin, but you can also store it on Litecoin, Doge, etc. etc... If Bitcoin wants to shut out data storage, Doge can always pick up the slack and become coin #1 among the file storage community. Coins will finally have a sound platform for excelling against each other in the economic arena.

Sorry but that is incorrect. To launch an altcoin and reach the level of mining that the network is secure is not a feat that happens very often. Your average entrepreneur can't launch that.

As I said, the level of diversified competition will be greatly inhibited.