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I think the idea is the blockchain part allows people to be compensated at a price determined by the market for opening up their storage

onli 9y ago
Only that you do not need a blockchain for that. All you need is a market place, and that works perfectly fine without a blockchain. It's a needless complication imho.
- beaconstudios 9y ago
  exactly my point. Market dynamics existed long before blockchains.
  - onli 9y ago
    But maybe we both miss a thing here. Maybe this is less about file storage and market place, but more about having an alternative way to mine cryptocurrency, which has its own value as long as speculation is ongoing. Well, maybe that's a bit obvious given the hype around the IPO. That would mean filecoin is less about the use of decentral file storage, but more about giving people a different way to create something that looks like bitcoin that does not involve buying sold-out gpus, unlike ethereum, and storing files is more comfortable than having a gpu make noise all the time anyway.
    - beaconstudios 9y ago
      so it's yet another way for people to play pretend-stock-market but using a different model of wasting computational resources? That's about what I expect from cryptocoins at this point.
      - onli 9y ago
        Not really wasting in this case. There is at least that.
        beaconstudios 9y ago
        true, at least it's just storage space instead of spinning thousands of servers at 100% all the time and wasting huge amounts of electricity. At least, assuming that people don't start creating miner farms with huge amounts of space like they do with GPUs at the moment. I don't know how filecoin ties to the storage requirements of the customers though so that might be handled by market forces.
        deleted 9y ago
        [deleted]
        mpfundstein 9y ago
        Come don't ruin it like that
    - holtalanm 9y ago
      storing files is a lot cheaper (energy-wise) than having a GPU continually crunch hashes, too.
- billylindeman 9y ago
  Is bitcoin a needless complication of cash?

onli 9y ago

Only that you do not need a blockchain for that. All you need is a market place, and that works perfectly fine without a blockchain. It's a needless complication imho.

beaconstudios 9y ago
exactly my point. Market dynamics existed long before blockchains.
- onli 9y ago
  But maybe we both miss a thing here. Maybe this is less about file storage and market place, but more about having an alternative way to mine cryptocurrency, which has its own value as long as speculation is ongoing. Well, maybe that's a bit obvious given the hype around the IPO. That would mean filecoin is less about the use of decentral file storage, but more about giving people a different way to create something that looks like bitcoin that does not involve buying sold-out gpus, unlike ethereum, and storing files is more comfortable than having a gpu make noise all the time anyway.
  - beaconstudios 9y ago
    so it's yet another way for people to play pretend-stock-market but using a different model of wasting computational resources? That's about what I expect from cryptocoins at this point.
    - onli 9y ago
      Not really wasting in this case. There is at least that.
      - beaconstudios 9y ago
        true, at least it's just storage space instead of spinning thousands of servers at 100% all the time and wasting huge amounts of electricity. At least, assuming that people don't start creating miner farms with huge amounts of space like they do with GPUs at the moment. I don't know how filecoin ties to the storage requirements of the customers though so that might be handled by market forces.
        deleted 9y ago
        [deleted]
        mpfundstein 9y ago
        Come don't ruin it like that
  - holtalanm 9y ago
    storing files is a lot cheaper (energy-wise) than having a GPU continually crunch hashes, too.
billylindeman 9y ago
Is bitcoin a needless complication of cash?