Any time anyone is pushing crypto they are either A) are a true-believer and think it’s the future or B) are trying to get more rubes to buy in so they can hand them the bag.
NFTCs were invented for reason B for etherum bag holders.
Spez created both reddit crypto and reddit NFTs, and spent millions doing so. At the same time, he was literally paying all the infrastructure costs for some of the world’s wealthiest companies to mass-harvest reddit’s data for their latest projects, and spent tens of millions in infrastructure, development costs, storage and bandwidth to self-host videos and images and create a broken media player (after having spent 15 years refusing to do so).
He literally sees a techbro trend start, watches it peak, and then tries to drag reddit along in it’s wake as it starts to fail. He is a failure as a CEO, and he knows it. He also knows this is his last chance to make bank, which is why he’s so stubbornly insisting on following the current path: he wants “his” bag.
There’s a ton of potential real-world purposes for blockchain, but none are going to come to fruition for decades. There’s one project I am still involved in, distributed cloud storage, nodes get paid for participation in tokens. It is not profitable, but I like keeping a toe in the water for a “real thing.”
A blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked together via cryptographic hashes.[1][2][3][4] Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leaves). Since each block contains information about the previous block, they effectively form a chain (compare linked list data structure), with each additional block linking to the ones before it. Consequently, blockchain transactions are irreversible in that, once they are recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.
Yes they are. If you need an uneditable log, I guess? There are no uses on the blockchain for large file storage. Zero. It’s a ledger, not a storage medium.
It’s competing with Amazon S3, not Dropbox.
Distributed cloud storage sounds more like old torrents with partial seeders. But if you’re using a chained ledger for that, sure. But like crypto, it’s going to balloon out of control.
I don’t think anyone was able to spin why this would be a good idea when it was first announced.
Any time anyone is pushing crypto they are either A) are a true-believer and think it’s the future or B) are trying to get more rubes to buy in so they can hand them the bag.
NFT
Cs were invented for reason B for etherum bag holders.Spez created both reddit crypto and reddit NFTs, and spent millions doing so. At the same time, he was literally paying all the infrastructure costs for some of the world’s wealthiest companies to mass-harvest reddit’s data for their latest projects, and spent tens of millions in infrastructure, development costs, storage and bandwidth to self-host videos and images and create a broken media player (after having spent 15 years refusing to do so).
He literally sees a techbro trend start, watches it peak, and then tries to drag reddit along in it’s wake as it starts to fail. He is a failure as a CEO, and he knows it. He also knows this is his last chance to make bank, which is why he’s so stubbornly insisting on following the current path: he wants “his” bag.
That was viscerally enjoyable, I hope you insult people for a living!
You mean NFTs?
Ah hah yep!
There’s a ton of potential real-world purposes for blockchain, but none are going to come to fruition for decades. There’s one project I am still involved in, distributed cloud storage, nodes get paid for participation in tokens. It is not profitable, but I like keeping a toe in the water for a “real thing.”
Why would you want cloud storage to have an uneditable, append-only storage medium?
It’s not uneditable, append-only. Backups, log storage, large file media storage and streaming. It’s competing with Amazon S3, not Dropbox.
Yes they are. If you need an uneditable log, I guess? There are no uses on the blockchain for large file storage. Zero. It’s a ledger, not a storage medium.
Distributed cloud storage sounds more like old torrents with partial seeders. But if you’re using a chained ledger for that, sure. But like crypto, it’s going to balloon out of control.
The storage isn’t on a blockchain. The tokens are just used to compensate node operators based on storage usage, ingress, egress, repair.