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Filecoin 2017 Q4 Update
- voodoologic 9y agoI was jazzed about this concept in 2014. I think video game consoles could host their game files for their peers. Essentially the console would be distributing the data from a central server model to a peer-to-peer model. By opting in, a console owner leaves their device on when not gaming to validate purchases and supply game content. They can spend money on the platform's marketplace. The one person with some influence at microsoft who I knew didn't know what crypto-currency was. But, I remain hopeful.
- revelation 9y agoSection 7 seems to be the kind of status update a doomed crowdfunding hardware project posts. Lots of buzzwords on all the incredibly complicated problems their awesome rockstar team is working all day to solve, nothing anyone can verify. Section 4 is an entirely transparent scheme to ride on the coattails of IPFS.
- wmf 9y agoThe same people are developing IPFS and Filecoin so they're riding their own coattails.
- zebnyc 9y agoThis style of providing updates seems to be standard amongst crypto / blockchain projects. Do you have any different examples? Thanks
- revelation 9y agoJust look at the updates of some of those famous crowdfunding projects (or "ICO+whitepaper" if you want) https://www.kickstarter.com/projects/torquing/zano-autonomous-intelligent-swarming-nano-drone/posts/1245513 https://www.kickstarter.com/projects/torquing/zano-autonomou... "we have all been flat out working" "Getting a high speed shutter and minimal jitter from the video feed, testing the camera with the motors and all RF devices running at full power"
- adbachman 9y agoIt’s hard to tell if you’re using a massive failure like that as an example of what to do or what not to do. Or is it sarcasm?
- zherbert 9y agohttps://blog.sia.tech/sia-triannual-update-september-december-2017-8afdf9c10325 https://blog.sia.tech/sia-triannual-update-september-decembe...
- tylersmith 9y agoIt's a layer on top of IPFS. That's like saying a Wordpress plugin is riding on the coattails of Wordpress.
- goldcountry 9y agoEven assuming they meet all their product goals, who is going to choose this over AWS?
- rememberlenny 9y agoFrom what I understand, thats not what its about. AWS and all of the various centralized hosting providers are still valuable. The idea of web 3.0 and the ethereum/ipfs structure is that you have a fat client and thin server. This means that all the business logic sits on the client and the server is just utility. Filecoin and the ifps structure allows content like text or images to be stored in a place that the smart contract based client could access. Some recent examples are: - Marketplace that uses ifps to store data: https://demo.originprotocol.com https://demo.originprotocol.com - Game (not sure if this uses ifps) http://cryptokitties.co http://cryptokitties.co
- Aunche 9y agoWhy not just do this without the overhead of mining and maintaining a blockchain? Surely there's a more efficient way of maintaining a public distributed file system.
- tylersmith 9y agoThat's what IPFS is. Filecoin is an extension on top of IPFS to allow people to pay to ensure their content stays available.
- pdx 9y agoThere is. It's SAFE Network. https://safenetwork.org/ https://safenetwork.org/
- rictic 9y agoIf you have a system where anyone can provide storage and anyone can buy storage, then you need to have a system to verify that the files are actually being stored. As I understand it, that's filecoin mining. Filecoin eliminates a lot of the overhead of selling storage, but it adds some overhead all its own. The big question is: which is larger, and by how much?
- koolba 9y agoAny update on what they did with the $257 million they raised[1]? Did they convert it to fiat or keep it in crypto? Between Sep and now there's been some big shifts in value. Be nuts if they have over $1 billion to play with now. [1]: https://www.coindesk.com/257-million-filecoin-breaks-time-record-ico-funding/ https://www.coindesk.com/257-million-filecoin-breaks-time-re...
- coolspot 9y agoLamos. Many many lambos.
- throwwwwaway9 9y ago---Any update on what they did with the $257 million they raised They are paying people to write and release quarterly updates. Without any inside info, I can tell you that that costs money. Maybe they setup trust funds to issue such updates well into year 2087. What more do you want???
- koolba 9y agoI'm specifically asking how they're holding on to the massive amount of funding they raised. A traditional funding raise would be in USD and the startup may receive in a number of tranches tied to milestones. In the case of Filecoin I think they received a large chunk of it in crypto, specifically Ether, which has grown significantly since then. If they didn't convert it to fiat shortly after the funding round they could be sitting on a (paper) value of over $1 billion.
- throwwwwaway9 9y agoI doubt they converted it all in USD. Maybe they invested in other crypto, and maybe somewhere between $257m and $1b might be their bank acct balance. Imagine having at least $250,000,000 and as much to hire employees! Of course they can keep 5 employees and pay "managers" xx $millions a year...no law against that, "that's how they decided their company should be run"
- beedrillzzzzz 9y agoVery interesting to contrast with competitor Sia's latest status update. Sia quietly developed a fully functional network over the last 5 years, and has now stated they will begin big marketing efforts. Also, no reason IPFS cannot integrate with Sia. https://blog.sia.tech/sia-triannual-update-september-december-2017-8afdf9c10325 https://blog.sia.tech/sia-triannual-update-september-decembe...
- cantrip 9y agoI own some amount of Siacoin, but what I don't fully understand is how the value of Sia is supposed to work with the platform itself. As the value of the currency increases, doesn't that make actually using the service prohibitively expensive? Also, the Sia wallet has been completely inoperable for about a week, which is what has caused its latest price inflation. It went from .02 to .10 so I figured I'd get rid of it, but I can not send it from my personal Sia wallet to an exchange.
- wmf 9y agoAs the value of the currency increases, doesn't that make actually using the service prohibitively expensive? AFAIK this is an unsolved problem for all "app coins"/"utility tokens"/"fat protocols". The service could be dynamically repriced when the value of the currency changes, but that requires oracles and many cryptocurrency idealists are reluctant to admit that things should be priced in a stable currency.
- deleted 9y ago[deleted]
- hndamien 9y agoSia has cluster management software to let the hoster dynamically set prices with respect to the exchange rate.
- zherbert 9y agoHosts actually set their own prices, so as Siacoin increases, the price for storing data (denominated in Siacoin) decreases. Hosts compete with one another, so prices are driven down to their absolute lowest. The recent issues have been on exchange wallets, which should be fixed very shortly on Bittrex and Shapeshift, as announced recently on Reddit and Twitter.
- hanklazard 9y agoI'm actually very interested in setting aside some storage for this project but have legal concerns. Namely, if an encrypted shard of [illegal file X] is sitting on my IPFS node without my knowledge, could I be held responsible legally for holding/distributing that illegal file? As far as I've been able to ascertain from a few lawyers I've curbsided, the answer is "maybe," but if anyone knows of any clear legal precedent around this issue, I'd appreciate your input. Seems like this issue could preclude mainstream adoption, if not addressed (maybe it has been and I just haven't seen it).
- viraptor 9y agoMost likely this depends on the country. For the US, I guess it would be most interesting to read the DMCA safe harbour definitions and see if they apply to you as ipfs storage provider.
- heyplanet 9y agoWhat would be 'mainstream adoption' in this context?
- albertgoeswoof 9y agoYes, you could be held legally responsible. Do you have the funds to mount a reasonable defense if you were to be prosecuted? Would a negative outcome significantly impact your life? If you can’t afford to fight it don’t risk it
- vel0city 9y agoIANAL, but from my understanding of the DMCA Safe Habor provisions it could be very tricky to hold a host responsible for data stored on their servers unknowingly. However, once they find out about the file's illegality, they must act or then they become liable. Amazon is not immediately liable if someone uploads illegal files to S3.
- xur17 9y agoMy understanding is that you have to register a DMCA notification agent in order to be eligible for DMCA Safe Harbor: http://www.haynesboone.com/alerts/dmca-safe-harbor-protection http://www.haynesboone.com/alerts/dmca-safe-harbor-protectio...
- eoinboylan 9y agoPied Piper Update, Q4 2017
- hathathat 9y agoThey seem to have solved proof-of-storage, but the network can’t guarantee the available of the files you pay to store! A profitable strategy: 1. Set up a miner on AWS. You’ll only need a small machine as you’ll persist the data in S3. 2. Accept bids for storage, and use your free ingress bandwidth to copy the data into S3 3. Calculate and publish your proofs of storage so your Filecoin (held in escrow after your successful bid) is released. 4. Refuse all bids to access the content - egress bandwidth costs money! 5. Win! You’ll always be able to undercut other miners when bidding for storage as they have to bake in bandwidth costs in their bids, and you strategy is easily scalable (as you can pump as much data into S3 as you need - you’ll only need to get more machines to calculate more storage proofs).
- AlexCoventry 9y agoLast I looked at FileCoin, you were going to need much more than a small machine to compute the proofs of storage, They seemed to be the main economic impediment to FileCoin as a competitive storage mechanism. Have there been technical developments since the whitepaper?
- wmf 9y agoI think you're assuming some kind of broken strawman version of Filecoin. (Edit: This wasn't really justified, see below.) The price of retrieving data needs to be agreed ahead of time and nodes that refuse to provide data need to lose collateral. Ultimately there's also replication/erasure coding so that one node can't hold your data hostage (but it would be worrying if evil was a dominant strategy because then all the nodes might hold your data hostage at the same time). (Also, for step 3 I think proofs of storage are supposed to be calculated continuously, not once. So you'd be constantly reading data from S3.)
- hathathat 9y agoI'm not sure why you say it's a strawman? The whitepaper[1] says that an ask order on the storage market is just (space, price) -- no mention of the cost to retrieve the data. Similarly, the storage market protocol (Figure 11) doesn't mention losing stake for failing to provide the data on demand (it only mentions losing stake for failing to post proofs). [1] https://filecoin.io/filecoin.pdf https://filecoin.io/filecoin.pdf
- kbody 9y agoPretty underwhelming to have the top challenges outsourced to bounty-based RFPs. With the money they got any kind of centralization because of overpromises is a huge failure in my book. Really disappointed by the greed that ICOs have brought out of people.
- treyrosch 9y agoHow many coins do you think will be given per token?
- treyrosch1234 9y agoHow many coins do you think will be given per token?
- treyrosch1234 9y agoHow many cons do you think they will give per token?