Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Is Filecoin a $257 million Ponzi scheme? [pdf]

github.com

Post reply on HN
Print view View original

11–20 of 243 posts

Re: Is Filecoin a $257 million Ponzi scheme? [pdf]

#11

Post by synctext »

[Author here] short answer taken from our .PDF file:

"Considering that Dropbox [53] currently holds around 500 petabytes of user data [54], one could argue that Filecoin is overvalued."

Study we conducted with a master student at Delft University of Technology. Open lab notes when writing this paper: https://github.com/Tribler/tribler/issues/3097 Note TUDelft has currently 8 professors in their http://blockchain-lab.org Various scientists and 38 master students working on improving our own Filecoin-like system, based on our Trustchain fabric: https://github.com/Tribler/tribler/issues?q=is%3Aissue+is%3A... It's home to one of the largest blockchain labs of Europe.

Re: Is Filecoin a $257 million Ponzi scheme? [pdf]

#12

Post by rightos »

jstanley wrote: post #2

Filecoin is a huge disappointment to me. IPFS is fantastic technology, but the main developers getting sidetracked with yet another scammy ICO is the last thing we need.

It's interesting to see many of Filecoins promises realized already in alternatives like Sia or Storj, but Filecoin still takes the hype, despite not having anything released, let alone anything superior... I guess because it's by the IPFS developers and had a big flashy ICO?

Re: Is Filecoin a $257 million Ponzi scheme? [pdf]

#14

Post by pavlov »

soneca wrote: post #3

edit: Weird, I thought I was commenting on another thread, about Nobel laureates criticizing Bitcoin. I saw it on my phone, then opened HN at my notebook to comment. I misread the title and commented here, but now I can't find the correct thread (was it flagged?). I am growing this idea that Bitcoin (and any cryptocurrency that is affected by aggressive price growth) is an anti-fragile indirect multilevel marketing s…

The bad news is that Diamond was able to correlate to status, a strong (if subjective) value that is part of humanity since always. BTC only appeal is its value as money ...

Startup idea: Bitcoin wedding rings.

A beautiful gold ring with a private key engraved on the inside. Give your loved one the gift of BTC! Your commitment to each other, eternalized on the global blockchain.

Gentlemen may prefer blondes, but the modern woman prefers Bitcoin to carats of squeezed carbon. Status, store of value, it's all there.

(This is satire, but now I'm worried it will actually happen if the coinmania doesn't subside soon.)

Re: Is Filecoin a $257 million Ponzi scheme? [pdf]

#16

Post by namenotrequired »

soneca wrote: post #3

edit: Weird, I thought I was commenting on another thread, about Nobel laureates criticizing Bitcoin. I saw it on my phone, then opened HN at my notebook to comment. I misread the title and commented here, but now I can't find the correct thread (was it flagged?). I am growing this idea that Bitcoin (and any cryptocurrency that is affected by aggressive price growth) is an anti-fragile indirect multilevel marketing s…

> I misread the title and commented here, but now I can't find the correct thread

Is it this one?

https://news.ycombinator.com/item?id=15816294

Re: Is Filecoin a $257 million Ponzi scheme? [pdf]

#17

Post by j_s »

brndnmtthws wrote: post #5

Filecoin is one of the ones I'd stay far away from. VCs got in before anyone else with special preferences, which taints the whole project. There are alternatives which don't come with the VC problem attached to them.

What is your recommended alternative? Is there any unusual involvement beyond participation as a user that you should probably disclose?

Re: Is Filecoin a $257 million Ponzi scheme? [pdf]

#18

Post by shepardrtc »

rightos wrote: post #12
jstanley wrote: post #2

Filecoin is a huge disappointment to me. IPFS is fantastic technology, but the main developers getting sidetracked with yet another scammy ICO is the last thing we need.

It's interesting to see many of Filecoins promises realized already in alternatives like Sia or Storj, but Filecoin still takes the hype, despite not having anything released, let alone anything superior... I guess because it's by the IPFS developers and had a big flashy ICO?

The Sia team has really impressed me with their approach. They're the type of devs that keep quiet and just get the work done. No hype, no grandiose promises, just hard work and solving hard problems. I think that in the end they'll be the ones that come out ahead when it comes to decentralized storage.

Re: Is Filecoin a $257 million Ponzi scheme? [pdf]

#19

Post by shepardrtc »

j_s wrote: post #17
brndnmtthws wrote: post #5

Filecoin is one of the ones I'd stay far away from. VCs got in before anyone else with special preferences, which taints the whole project. There are alternatives which don't come with the VC problem attached to them.

What is your recommended alternative? Is there any unusual involvement beyond participation as a user that you should probably disclose?

Sia

Re: Is Filecoin a $257 million Ponzi scheme? [pdf]

#20

Post by pandler »

amelius wrote: post #10
KasianFranks wrote: post #4

Where did the funding for this research paper come from, specifically?

It seems like the first author is still a student. So this could be a BSc./MSc. project, for example.

https://github.com/backender/filecoin-survey/releases

Seeing as the release is named "Release to turn in", I'd say so too.

Post reply on HN