I think it would be helpful if the authors disclosed whether they invested in Filecoin. I didn't really see it anywhere. Did I miss it?
Author here: we did not invest; nor are we invested in any of the competitor projects mentioned in the article.
Is Filecoin a $257 million Ponzi scheme? [pdf]
21–30 of 243 posts
Re: Is Filecoin a $257 million Ponzi scheme? [pdf]
#22Filecoin 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.
I see two drawbacks to the technology:
1) data storage with trusted centrally controlled infrastructure will always be cheaper (probably much cheaper) because you need far more redundancy in an untrusted network and the centralized infrastructure has superior economies of scale.
2) Your (encrypted) data is public so you are relying on the platform having zero exploitable bugs ever, which is just not a smart assumption. For this reason alone I can't really see any serious person being willing to store their data on this network.
Re: Is Filecoin a $257 million Ponzi scheme? [pdf]
#23Filecoin 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.
Filecoin ICO was when I lost interest in IPFS because I realised its developers were not as like-minded to me as I had hoped.
Re: Is Filecoin a $257 million Ponzi scheme? [pdf]
#24Earlier quoted context omitted.
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.
I think it would be fair if the title is changed from
"... by Delft University"
to
"... by student of Delft University".
Or just drop it altogether and shorten the title.
Re: Is Filecoin a $257 million Ponzi scheme? [pdf]
#25Filecoin 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 is more legitimate. I don't own any Siacoin or Filecoin, but I would hold Siacoin if it was supported by the Ledger hardware wallet.
Re: Is Filecoin a $257 million Ponzi scheme? [pdf]
#26Are they not all (bitcoin, eth etc.) ponzi schemes?
Ethereum at least acts as a platform for other things so it has utility outside of being currency. Bitcoin definitely feels more like one lately, though.
Re: Is Filecoin a $257 million Ponzi scheme? [pdf]
#27Where 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.
Author [Marc] here: I'm a master student at TU Delft and this was a literature survey in preparation for 1) the recent developments in the blockchain lab at TU Delft and 2) my master thesis -- and therefore also to stimulate my interests in blockchain technologies.
Re: Is Filecoin a $257 million Ponzi scheme? [pdf]
#28edit: 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…
Where I come from your nickname would soon be "4-fingers"
Re: Is Filecoin a $257 million Ponzi scheme? [pdf]
#29Filecoin 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.
I see two drawbacks to the technology: 1) data storage with trusted centrally controlled infrastructure will always be cheaper (probably much cheaper) because you need far more redundancy in an untrusted network and the centralized infrastructure has superior economies of scale. 2) Your (encrypted) data is public so you are relying on the platform having zero exploitable bugs ever, which is just not a smart assumptio…
(1) Is true. For data worth less than the risk of your cloud vendor doing something you don't like with it, well, economics, as always, applies.
For (2), there's nothing preventing nested encryption, if your threat model dictates.
Re: Is Filecoin a $257 million Ponzi scheme? [pdf]
#30edit: 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…
Generalization: Bitcoin jewelry.