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0 pointsnoxer5y ago0 comments

Regardless of the actual reason why they cant use the 200M hardware, isnt int kinda funny that they even assumed that they could make money from the full capacity at day 1. Who the heck would be the customer of cloud storage hardware worth 200M at day 1. Clearly demand grows over time, that cant be skipped. Reward "miners" for whatever they provide even if no one uses it - sound unsustainable.

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3 comments · 1 top-level

wmf5y ago· 2 in thread

Rewarding miners for reserved but unused capacity is an explicit feature of Filecoin that I guess is intended to build up capacity in advance of customer need. These miners just did what Protocol Labs told them to do.

znpy5y ago

> These miners just did what Protocol Labs told them to do.

Without a contract? I'm not talking about smart contracts, I'm talking about real world, legally-binding contract.

If they just went and bought $200M USD of hardware basing on marketing... I guess that's the problem, right there.

noxerOP5y ago

Reserves sure, but at the start you dont know how much is needed so to just assume reward for whatever show up is comically naive. It could take months for real demand actually using a significant portion of the storage. Pay everyone else anyway is literally trowing money away.

Just imagine if one of the large cloud storage player would have set this up and simply offered all their reserves which they could do as there is no way anyone would use it. If they would get paid for that It would be very lucrative.

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