>But sorry to be that person, just a timely reminder of the truth: All cryptocurrencies and 'DeFi projects' are ponzi scams including Orchid.
Seems like just an opinion to me, and a poorly opinionated one at that.
Seems like just an opinion to me, and a poorly opinionated one at that.
What I would say is that most cryptocurrencies have no fundamental value, and are therefore bubbles. I don't know what the term is for when someone deliberately creates an asset bubble with the intention of profiting from it. It's something like a very long-form, deliberative pump-and-dump.
All I see are people holding coins and not using them at all for anything else other than 'I want coin to go up'.
Adding a new technology + blockchain + a coin still makes it ponzi scheme scam, even worse when the price of this coin comes crashing down.
The only reason Helium's LoRaWAN coverage is expanding rapidly is due to the crypto aspects of it.
If I would like to lose my money in style this would be it.
Well get in line, the backlog for receiving hotspots across all distributors is 6-9 months long.
And there is no human coordination mechanism without the freely convertible currency
Blockchains provide the open source rails of all the account management and distribution, easing development costs. The infrastructure is already built compared to alternate ways of attempting to do this
have fun doing that without a blockchain
There is definitely an opportunity to sell overpriced hardware into the community then.
There are some other antenna-blockchain systems out there that look more like "schemes to sell hardware", such as Match X. There is a big and burgeoning market for these "passive income" things, people install hardware to earn a cryptocurrency.
It is definitely worthwhile to sell the hardware if you can.
And earlier:
>>> GPS
So is this the Charlie Stross blockchain scheme?
Tokens are used to have a stake as an indexer (data provider) and to pay for query fees (data consumption), and if indexers tamper with the data they lose their stake.
It was released last year and has a long way ahead to mature, but it's an amazing product and tokens/blockchain is essential to its decentralized nature. Simply put, there is no way to accomplish this if the network didn't adopt its own cryptocurrency.
Just like all the other coins, the only use case is burning up the planet by using Ethereum, BTC, etc, racking up high fees and being used by speculators while everyone else who invests in the ponzi scheme lose their money when it all crashes.
Nothing has changed.
How so?
I won't bother with the rest of the post as it's your usual crypto bad spiel that has absolutely nothing to do with the discussion we're currently having and has absolutely nothing to back up its claims (as do the rest of your posts, which I'm surprised aren't flagged/dead yet considering their low quality, but I guess HN is ok with them since they're anti crypto), but I'm curious to see how you would build a decentralized system that lets developers build data indexing programs, allows anyone to join the decentralized network as a data provider to run those programs, and lets consumers query that data from the network while also ensuring that the data is valid and hasn't been tampered with by the providers without blockchain/tokens.
Please, do enlighten me, I'm curious.
Like all the others, most people are just speculating on the token price, asking if it is a good investment, etc. You would have to be lying to yourself to believe that people care about the technology.
Could you tell me why does this project needs a token attached? Even if we were to look at the price, the painful truth is that most (if not all) people who invested lost most of their money on this shitcoin, and this is excluding the punishing gas fees so it could be even worse. I hope this doesn't include you as well.
As I said, querying blockchains can be done without the need to attach a token to a project. BitQuery is an example of this without trying to burn up the planet with Proof of Waste.
If you are in support of the Graph you are also in support of the ponzi scheme.