4 ms·

- Who pays for the low latency high capacity data storage costs? - The ad-model subsidizes almost all costs for the end user. I couldn't even DREAM of storing

by ctxc 4y ago

- Who pays for the low latency high capacity data storage costs? - The ad-model subsidizes almost all costs for the end user. I couldn't even DREAM of storing an arbitrary amount of photos and videos and text spanning years, highly available all the time, ability to search and communicate with anybody etc for free without this. There are huge costs involved with this that the "data moat" subsidizes. Note that I'm not referring to the "morals" of doing this, my question is pragmatic. - Why will say, a Facebook do this with "decentralized data"? - How do they pay their bills, what monetization structure do you envision? - Will people pay for something they have always had for free? It won't be a nominal amount since they have to bear the costs of running the service, there's no subsidization.

kranke155 4y ago
Those are all great questions. I honestly don’t expect rich media to be stored on chain for a long, long time - not unless some Pied Piper type solution shows up! On monetisation structures - no idea, the only thing blockchain does is build a permissionless system where people will be able to experiment wildly with different models. Like Jobs said when he launched the iPhone “I’m excited about the stuff we don’t know about” more than what’s out there now (Ethereum being at best now a rough Beta project). Certainly the monetisation of digital art has changed a lot of what some of my favourite 3D artists have been doing - they no longer compete for likes on Instagram (worthless) but actively promote their NFTs from which they can make good money out of. They are producing the exact same kind of output - digital art - but NFTs are quietly taking over the whole space and changing the whole economic structure.
- pionar 4y ago
  > actively promote their NFTs from which they can make good money out of. People pay for inherently worthless NFTs with inherently worthless tokens, so they're not making good actual money unless they happen to cash out on an upswing.
  - kranke155 4y ago
    Thinking that cryptocurrency doesn't have value at this point is a hopeless perspective.

by ctxc 4y ago

kranke155 4y ago

Those are all great questions. I honestly don’t expect rich media to be stored on chain for a long, long time - not unless some Pied Piper type solution shows up! On monetisation structures - no idea, the only thing blockchain does is build a permissionless system where people will be able to experiment wildly with different models. Like Jobs said when he launched the iPhone “I’m excited about the stuff we don’t know about” more than what’s out there now (Ethereum being at best now a rough Beta project). Certainly the monetisation of digital art has changed a lot of what some of my favourite 3D artists have been doing - they no longer compete for likes on Instagram (worthless) but actively promote their NFTs from which they can make good money out of. They are producing the exact same kind of output - digital art - but NFTs are quietly taking over the whole space and changing the whole economic structure.

pionar 4y ago
> actively promote their NFTs from which they can make good money out of. People pay for inherently worthless NFTs with inherently worthless tokens, so they're not making good actual money unless they happen to cash out on an upswing.
- kranke155 4y ago
  Thinking that cryptocurrency doesn't have value at this point is a hopeless perspective.