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What makes it valuable as a currency? Are people expected to buy DTC to pay storage fees? I don't know that this will work from an economics standpoint.
by t0 13y ago
What makes it valuable as a currency? Are people expected to buy DTC to pay storage fees? I don't know that this will work from an economics standpoint.
- LoganCale 13y agoNot all Bitcoin-derived technologies are necessarily intended to be an actual currency, though some do still get traded for other currencies (usually for a very low amount).
- maaku 13y agoThose which don't need a new currency shouldn't create one. Build on top of bitcoin instead.
- makomk 13y agoThe Bitcoin developers really don't want people storing data in the Bitcoin blockchain.
- maaku 13y agoBecause you don't need to. (I am a bitcoin developer, btw.) You can do just fine committing summaries of data (e.g. a Merkle hash root) to the coinbase string in cooperation with a miner, or to a short data field in a provably unspendable output of any transaction. Both of these work fine on vanilla bitcoin, accomplish the typical goals of blockchain data witness, don't require full nodes to store your data, and don't require a new coin.
- madgenius 13y agowrong. data witness?? what is good about that? Someone may want to submit content and generate an income off of the ad revenue from that content. Why should Google collect ad revenue for videos on youtube created by individuals? The person making the movie should get the ad revenue. Bitcoin can do this?!! HAHA don't make me laugh. Proof of storage was not done academically until after the release of Bitcoin, which is probably why Bitcoin is not designed with mass data storage in mind. Datacoin is not a currency, it is a crypto anarchist corporation. It is the first publicly traded company not traded on any centralized stock exchange.
- madgenius 13y agoPlease explain how Bitcoin is a distributed autonomous corporation that pays people to leak/publish information and then generates income via demand for advertisements