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0 pointseMGm4D0zgUAVXc75y ago0 comments

The IPFS website at the bottom left contains a section "Protocol labs", the "About" link of that links to https://protocol.ai/ which says "We're decentralizing storage with Filecoin".

So their end goal might be making money off that cryptocurrency...

Thanks to the GP for causin me to figure out why the wheel is being re-invented here! :)

0 comments

asenna5y ago

Why is adding an incentive mechanism to "pinning" files on IPFS inherently wrong? If you find the right incentives to a tech problem, that pushes the tech forward right? Like Satoshi Nakomoto putting together the right type of incentive to be able to create an almost unhackable network in Bitcoin (along with Ethereum and others).

I'm not yet saying that Protocol Labs will ultimately find the success they're looking for BUT writing off their efforts as "just a way to make money off of cryptocurrency" I feel is pretty dismissive.

geofft5y ago

I don't think the claim is that it's wrong, I think it's just trying to answer "Why do people constantly have to re-invent the wheel? :(".

"X but we monetized it" (which includes "X but we got VCs to pay us") is an extremely common reason to reinvent X.

rglullis5y ago

It's not dismissive. They already got their money. $257 million, to be exact. No one knows how Filecoin is going to make money except for Protocol Labs.

cachvico5y ago

By providing value, therefore driving up the market price of the integral reward. Currently at $22, not bad for a random coin.

I.e, the value of the coin is driven by the interest in the tech it provides.

1 more reply

jMyles5y ago

...yes, of course I'm familiar with Filecoin. If that is the explanation for how speculation prompts use of IPFS over Freenet (both of which I adore), then there is no explanation.

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