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I don't get it. Competing with Amazon S3 seems like a very unpromising business idea, blockchain or not.
For everything else the available Cloud storage options are cheaper, faster, easier and more reliable.
So much people with much money trying to find new ways to make money out of money. That says much about the current state of the economy.
And making the rich richer. No way to invest unless you have money or you are in the inner circle. Code has also not been released. So much for open source.
A crash is eminent so hold tight and wait for it. You will have plenty of opportunity. History will repeat itself as new fools arrive on the scene[2].
[1] https://en.wikipedia.org/wiki/Tulip_mania
[2] https://en.wikipedia.org/wiki/List_of_stock_market_crashes_a...
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Yep, only accredited investors could buy Filecoin at the ICO. The rest of us can still buy Siacoin which is similar. I don't think these VC-backed cryptocurrencies will win in the long term. It's the same principle as with stocks, cryptocurrencies are going to work in favour those who understand them the most; in this case, developers. The mission of cryptocurrencies is to take control away from finance people. Hobby…
> in this case, developers. i dont think developers are the ones who will profit - after all, developers are the ones who wrote the code for a lot of financial institutions, and none of them gain much more than just a salary.
Fantastic. I'm sure the enterprise sales are going to go really well.
This fallacy that everything needs to be distributed is really getting out of hand.
So much people with much money trying to find new ways to make money out of money. That says much about the current state of the economy.
The main advantage to me seems to be a more of a community-driven storage approach. S3 is really cheap and really reliable and really old. A distributed file store would be cool, but as a community/free network like P2P. The $200M seems really high for a community project.
So instead of on-premise SANs or cloud provider block storage, store your files all over random devices protected by a complicated crypto that requires miners and tokens to stay active? Fantastic. I'm sure the enterprise sales are going to go really well. This fallacy that everything needs to be distributed is really getting out of hand.
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And how many computing cycles and kWH are wasted on cryptocoins
To be honest, this is my reason for not jumping mindlessly on the cryptocurrency bandwagon: it's wasting so much resources and power, especially when you take a look at videos of mining farms.
I don't get it. Competing with Amazon S3 seems like a very unpromising business idea, blockchain or not.
There is indeed only a single legitimate use-case: Censorship resilient storage. For everything else the available Cloud storage options are cheaper, faster, easier and more reliable.