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i do love that it immediately goes into yet another crypto bashing comment chain while not realising that a crypto company owns bittorrent: https://torrentfrea

by ikt 5y ago

i do love that it immediately goes into yet another crypto bashing comment chain while not realising that a crypto company owns bittorrent: https://torrentfreak.com/bittorrent-inc-confirms-acquisition-by-tron-foundation-180724/ https://torrentfreak.com/bittorrent-inc-confirms-acquisition... and that after the creator of bittorrent left he created his own cryptocurrency: https://en.m.wikipedia.org/wiki/Chia_(cryptocurrency) https://en.m.wikipedia.org/wiki/Chia_(cryptocurrency)

dncornholio 5y ago
That only says something about the company and creator instead.
Semaphor 5y ago
Does Libtorrent have anything todo with Rainberry fka. Bittorrent Inc.? They seem to be the ones working on the protocol nowadays.
cuteboy19 5y ago
Reading through the wikipedia page for Chia > The Chia Network was founded in 2017 by American computer programmer Bram Cohen, the author of the BitTorrent protocol.[4] In China stockpiling ahead of the May 2021 launch led to shortages and an increase in the price of hard disk drives (HDD) and solid-state drives (SSD).[5] Shortages were also reported in Vietnam.[6] Phison, a Taiwanese electronics manufacturing company, estimated that SSD prices will rise by 10% in 2021 as a result of Chia.[7] Hard drive manufacturer Seagate said in May 2021 that the company was experiencing strong orders and that staff were working to "adjust to market demand".[6] In May 2021 Gene Hoffman, the president of Chia Network, admitted that "we’ve kind of destroyed the short-term supply chain" for hard disks.[8] Concerns have also been raised about the mining process also potentially being harmful to drives' lifetime.[9] Thankfully the coin seems to have collapsed completely since May 2021 (https://www.coinbase.com/price/chia-network https://www.coinbase.com/price/chia-network) But you can see why people are skeptical
- maupin 5y ago
  And it wasn't completely original, as Burst (now Signum) was a cryptocurrency using storage space for mining back in 2014.
- ikt 5y ago
  > Thankfully the coin seems to have collapsed completely since May 2021 That doesn't appear to be the case: https://www.coingecko.com/en/coins/chia https://www.coingecko.com/en/coins/chia Currently rank #257 with a market cap of $247 million. The whole altcoin market has been in limbo/declining since May last year. Last update was also yesterday: https://www.chia.net/2022/01/10/understanding-the-changes-in-the-new-light-wallet.en.html https://www.chia.net/2022/01/10/understanding-the-changes-in...
300bps 5y ago
That “crypto bashing comment chain” is just as relevant today as it was when it was posted 16 months ago. People are still struggling to articulate a legitimate use case for cryptocurrencies. I made some money mining BTC way back in the day with a GPU. I bought a new computer for $1,900 last year and much more than paid for it mining ETH. I’ve spent years now listening to all the claims from BTC, BCH, BSV and a dozen more coins and web3 proponents. But I’ll be damned if I can articulate a legitimate use for it that is better than what we have today or that doesn’t fail to take human nature into consideration.
- ikt 5y ago
  > But I’ll be damned if I can articulate a legitimate use for it What's wrong with DeFi?

by ikt 5y ago

dncornholio 5y ago

That only says something about the company and creator instead.

Semaphor 5y ago

Does Libtorrent have anything todo with Rainberry fka. Bittorrent Inc.? They seem to be the ones working on the protocol nowadays.

cuteboy19 5y ago

Reading through the wikipedia page for Chia > The Chia Network was founded in 2017 by American computer programmer Bram Cohen, the author of the BitTorrent protocol.[4] In China stockpiling ahead of the May 2021 launch led to shortages and an increase in the price of hard disk drives (HDD) and solid-state drives (SSD).[5] Shortages were also reported in Vietnam.[6] Phison, a Taiwanese electronics manufacturing company, estimated that SSD prices will rise by 10% in 2021 as a result of Chia.[7] Hard drive manufacturer Seagate said in May 2021 that the company was experiencing strong orders and that staff were working to "adjust to market demand".[6] In May 2021 Gene Hoffman, the president of Chia Network, admitted that "we’ve kind of destroyed the short-term supply chain" for hard disks.[8] Concerns have also been raised about the mining process also potentially being harmful to drives' lifetime.[9] Thankfully the coin seems to have collapsed completely since May 2021 (https://www.coinbase.com/price/chia-network https://www.coinbase.com/price/chia-network) But you can see why people are skeptical

maupin 5y ago
And it wasn't completely original, as Burst (now Signum) was a cryptocurrency using storage space for mining back in 2014.
ikt 5y ago
> Thankfully the coin seems to have collapsed completely since May 2021 That doesn't appear to be the case: https://www.coingecko.com/en/coins/chia https://www.coingecko.com/en/coins/chia Currently rank #257 with a market cap of $247 million. The whole altcoin market has been in limbo/declining since May last year. Last update was also yesterday: https://www.chia.net/2022/01/10/understanding-the-changes-in-the-new-light-wallet.en.html https://www.chia.net/2022/01/10/understanding-the-changes-in...

300bps 5y ago

That “crypto bashing comment chain” is just as relevant today as it was when it was posted 16 months ago. People are still struggling to articulate a legitimate use case for cryptocurrencies. I made some money mining BTC way back in the day with a GPU. I bought a new computer for $1,900 last year and much more than paid for it mining ETH. I’ve spent years now listening to all the claims from BTC, BCH, BSV and a dozen more coins and web3 proponents. But I’ll be damned if I can articulate a legitimate use for it that is better than what we have today or that doesn’t fail to take human nature into consideration.

ikt 5y ago
> But I’ll be damned if I can articulate a legitimate use for it What's wrong with DeFi?