Post
Topic
Board Altcoin Discussion
Re: Do you think "iamnotback" really has the" Bitcoin killer"?
by
iamnotback
on 23/02/2017, 22:05:46 UTC
The reason we have 100s of shitcoins (even speculators don't realize they are shit, e.g. MaidSafe) and nothing really substantial is because nothing other than PoW (and its flaws) can function without whales:

https://bitcointalk.org/index.php?topic=1799665.msg17950272#msg17950272 (<--- read all my comments in the linked thread, not just the linked one)


Maidsafe is crap? I would love to see you post that on their forum instead of this shit-hole. C'mon Shelby, it's too easy to make a comment like that in this wasteland. Do it! Just Do it!!!! Grrrrrrrrrrr! Lamo!

It isn't worth my time to go argue with them. Carry on with that delusion and you will eventually (another 5 years of promises, technobabble nonsense, and hand waving?) reap what you've sown.

There is nothing wrong with the concept of a Torrent like Dark web network for distribution of files that are otherwise difficult to obtain on more efficient server farms. But we won't be mainstreaming content storage on home computers. Server farms will always be more efficient and mainstream. As for the token and earning money from hosting content on your home computer harddisk, brouhaha. Even a rough estimate on a napkin would indicate it is not viable to resell your Internet connection bandwidth for more than you pay for it, especially since you pay orders-of-magnitude more than it costs Google Roll Eyes

The main criticism is that even to the extent that we could create a more efficient cloud storage system comprising a common system incorporating a myraid of vendors by incorporating a signed proof-of-storage along with a blockchain record, the monetization of the system with a token is nonsense (other than as a gambling casino for speculation), because the most widely used crypto-currency will end up being the one the market prefers to use to pay for the cloud storage. These tokens (Sia, MaidSafe, Storj) are not going to be very long lived (because they haven't solved the major problems of crypto-currency), even though their proof-of-storage technology might end up being useful and used. Likewise, the technology for proof-of-storage will end up being used with the blockchain that solves the major problems of blockchains (e.g. centralization of consensus, etc). These projects are just incubators of experiments in cloud storage homogenization technology, not long-lived token+blockchain systems.