[Finance] Bitcoin, ten fold in 1 year

[beorhthelm]

I'm watching Maidsafe. Their plan is, essentially, to replace the internet! https://maidsafe.net/

this is the problem with the whole crypto currency world, the hyperbole and grandiose claims that goes with what may be good ideas. Maidsafe seems a good idea - decentralised, peer-to-peer storage and processing network. they use a crytpo currency to incentivse people to operate on the network. but it is not going to replace the internet, for one thing it requires the internet to function (provide the interconnections between all the nodes), the internet is already decentralised, and most functionality of the internet comes from fact it is public and not private. the other problem is they talk about "safecoin" as an asset store and currency in its own right, which only detracts from thier actual purpose. interesting project, but not an investment.

 

[Notters]

this is the problem with the whole crypto currency world, the hyperbole and grandiose claims that goes with what may be good ideas. Maidsafe seems a good idea - decentralised, peer-to-peer storage and processing network. they use a crytpo currency to incentivse people to operate on the network. but it is not going to replace the internet, for one thing it requires the internet to function (provide the interconnections between all the nodes), the internet is already decentralised, and most functionality of the internet comes from fact it is public and not private. the other problem is they talk about "safecoin" as an asset store and currency in its own right, which only detracts from thier actual purpose. interesting project, but not an investment.

Don't agree with this.

-Most of the data is stored by a few small companies, such as Google. It is far from decentralised.
-The internet is hugely vulnerably to attacks - which the Safe Network will prevent.
-Yes the interconnections will still exist.
-The difference is you will be able to chose what is public and what is private. You will still have websites, as they are today. But they won't be able to be hacked.
-Safecoin doesn't detract from their purpose. Their intention (though nothing is finalised yet) is that for standard "home" users, the whole thing will be free anyway.

 

[beorhthelm]

Don't agree with this.

-Most of the data is stored by a few small companies, such as Google. It is far from decentralised.
-The internet is hugely vulnerably to attacks - which the Safe Network will prevent.

you must be joking? there are literally thousands of companies providing hosting and Google is just one (dominant) way to find what you want on the interwebs. if you or your peer's ISP get impacted by a DDoS, so do you, and nothing in this Safe Network can prevent that. the least centralised part of the internet, domain name controllers, name registeries, tier 1 ISPs, which this network will still depend upon will still be as vulnerable to any attack. i like what it proposes but its more accurate to describe it as a replacement cloud hosting service than replacement internet.

 

[Notters]

you must be joking? there are literally thousands of companies providing hosting and Google is just one (dominant) way to find what you want on the interwebs. if you or your peer's ISP get impacted by a DDoS, so do you, and nothing in this Safe Network can prevent that. the least centralised part of the internet, domain name controllers, name registeries, tier 1 ISPs, which this network will still depend upon will still be as vulnerable to any attack. i like what it proposes but its more accurate to describe it as a replacement cloud hosting service than replacement internet.

No one can take it down or DDOS on the Safe Network it because it does not exist, it is merely bits of information located at a mathematically unknown location.

 

[giveusfalmerplease]

interesting to read this thread 4 years later when bitcoin got a 10 fold increase. now all we hear is 100k by end of year which will only be a 2x!!. time to look for better alternatives? cost of entry is too great for the average person and who wants to buy 0.01 of a bitcoin?

 

[Weststander]

So many risks:

- No FCS compensation.
- At some point, central banks will launch their own cryptocurrencies backed with actual assets, and then many digital coins will be worthless.
- Out and out criminal fraudsters are taking people’s hard earned cash. The Telegraph have an example where an investor lost £60,000. He saw it grow in value to £130,000 so invested more, but it was all a lie. When he tried to sell some and draw cash, he never got a bean.
- It is a Ponzi scheme, the winners were the first investors, the people who then very deliberately put the word out, some celebs have gained from doing this too.