Is skycoin BTFO?!

[Anonymous No.10945415]

Found this post on plebit: https://www.reddit.com/r/skycoin/comments/9ctmve/dyor_as_noob_in_skycoin/

How will Skycoiners every recover when a simple DYOR of some random guy brings out such glaring fundamental problems?!

[Anonymous No.10945442]

hey goy! don't research skycoin beyond the mandated echochambers

[Anonymous No.10945504]

This honestly deserves the whole topic to be copied here, before it mysteriously vanishes:
Here I go:
I initially heard regarding skycoin from telegram chat how they want to be the new internet how you "mine" coins while supporting this new intranet with Raspberry pie's on so on. Sounded interesting to say the least and I wanted to build my own node.
Of course I started to DYOR watching videos reading posts and so on. Unfortunately some things started to bother me, can someone clarify or confirm before I order the parts for the nodes.
While listening a interview. I understood that skycoin is a POS (in a way) coin in a way as it produces coinhours if you hold it. The same coinhours are produced by the nodes and used by the people wanting to use the services of the skycoin network. The reason for that was to prevent the cost of using the network reaching a crazy amounts, a example was given with eth gas during the Kitty craze reaching 8$ for a transaction, this would allow skycoin to reach infinity in price while allowing people to use cheaply the services via coinhour However why is the team just not using dynamic fees to fight this and stick to just skycoin? After all coinhours will be directly connected with price of skycoin as holding skycoins also produces coinhours (nodes too) so the rise of the price of skycoins the amount of coinhours awarded would have to also go up to prevent the price of coinhours to go up. I hope I explained it well here is a example: If 1 skycoin cost 100$ and 1 skycoin produces 100 coinhours a day. Those coinhours will be worth lets say 0.01 $, however if skycoin reaches 1000$ and keeps producing 100 coinhours a day they will be worth 0.1$ In my eyes there is no reason to not connect skycoins mentally with coinhours - the same way we connect pennies with dollars - they are still a monetary unit in the same system.

[Anonymous No.10945512]

>>10945504
part 2:

Would holding and supporting the network via nodes provide more coinhours compared to just holding skycoins. The risks and expenses are greater compared to just holding skycoin in a wallet? Allow me to explain again: Running a node cost of course electricity which honestly I don't think is a huge problem for anyone. However while you can easily sell skycoin if the need arises on a exchange you won't be able to sell your skyminer so easily or find it another use.

[Anonymous No.10945520]

>>10945512
Part 3

While listening to the interview I understood that you only going to get coinhours from your node if it is used either for forwarding traffic or for someone to directly connect though your node. Which is fine sounding decision as a design however it again hides a risk for the node holder. What if no one uses your node? What if you live in the middle of no where? In my eyes the probability someone using your skynode is immensely great if you live in London or NewYork compared to a rural town with 20 000 inhabitants which may not even be interested in crypto. If I live in a such rural area the fear that no one is going to use the node seems real - making ROI and profitability questionable. Of course the protocol and design may be written in a such way that the traffic is forced to pass through all the nodes between but that makes no sense. Lets say that a user is in Istanbul and wants to connect to London, while the network(Skycoin) uses the already build ISP and intranet infrastructure the quickest and easiest method is for it to directly connect with a node in London and Instabul using the already build infrastructure that is the fastest and cheapest way to do things.Of course the network may be design in such a way that the node in Istanbul need to connect with all the nodes between it and London; So it will connect Istanbul > Bulgaria > Serbia > Germany > France > London (all the nodes in those countries). But why would you do it like this, when it's more the more difficult way and definitely not the most effective speed and cost wise? Also what and who will determine if a node is close enough to be between Istanbul and London? Profitability sound uncertain to say the least.

[Anonymous No.10945527]

>>10945520

part 4:

Later in the interview it was mentioned that in the future Skycoin will abandon the ISP network that we already have and we are going to use antennas that are directional to transfer data between nodes in 15km range the speeds are awesome (GB/s). There are also antennas with 50km range however with speed of 50kb/s enough for a single phone call. Those antennas will be turned by motors to point on their own towards the sender receiver (as they are directional, more than one node operator will need to be in single area to cover a 360 degree broadcasting range) . Node operators would "need" (?) to buy them on their own and install them in a high place by simply running a cable from their node to the roof.These plans raise several concerns: How are you gonna broadcast between America and Europe if you are dedicated to not use the already build network for intranet for example? Also for this antenna approach to work there must be a network mesh dense enough of node operators that every 14-15 km a node operator is located so the skycoin network to be fast enough. I don't know how it is in America but where I live I am damn sure that there more than 15km gaps between cities and town, not to mention that skycoin must be immensely popular and have users in millions to have node operators with antennas broadcasting every 15 km. To say the least things start to be very confusing to node operators compared to simply be a skycoin holder. I am not even sure how much such an antenna would cost and how much electricity will it used to run. I am not even sure that you can install such high powerful equipment as you please in some countries, not to mention the simple logistic of running a lan cable from the first floor to the roof of 12 story building. Sounds complicated the least. Which makes me wonder again how immensely more profitable running a node should be to simply holding skycoin when you take all the expenses and risk with it.

[Anonymous No.10945538]

>>10945527

part 5:

I know I may have written a wall of text but I am sure that many skycoin "noobs" are asking these questions or at least will start to wonder once they do their DYOR regarding the idea. Over all I really like the idea of the project but I can't fully join the team as a support with both hands while wondering such questions.

P.S. Please excuse my grammar and spelling errors I am not a native English speaker.
>That's all! Its a fucking wall of text, but honestly this guy here asks some really good questions!

How will skycoin holders every recover from this?

[Anonymous No.10945793]

>>10945504
Dynamic fees require manual manipulation. Coinhour values are set by free market mechanics.

Coinhour burn does quite a bit to mitigate the effect you're concerned about. Playing a deflationary currency off of an inflationary currency has great benefit as an economic engine.

[Anonymous No.10945804]

>>10945512
Node operators are likely to be paid in coinhours.

Physical nodes and antennas are actually a permiance feature to Skycoin. It's easy for dentists to stop using Dentacoin overnight. It's not so easy for someone that owns $2,000 in decentralized internet equipment to drop out. And why would they want to? Once you're set up, earning for metered traffic is easy.

[Anonymous No.10945835]

OP uses Facebook messenger
OP cannot crop a screenshot of kneepads
OP is OP on plebbit but makes up story to repost it here without getting any flack
>we all know you're the same pathetic loser.
Moral of the story dont be a fag.

[Anonymous No.10945836]

>>10945520
Living in the middle of nowhere is actually some of the biggest financial opportunities here. Imagine being the only source of internet for a town of 20k that doesn't normally have any? Or overpays.

Skywire is pure free market. The best built connections will be the best rewarded. MPLS is the protocol that determines pathways, and it uses multiple pathways for sake of stability.

[Anonymous No.10945865]

>>10945527
Submarine cables can be bought, built, or rented. There's no dedication not to using the parts of the legacy internet that work well. Overall point is decentralization, which Skywire accomplishes with or without submarine cables.

High level wifi directional antennas reach about 250km on a bad day. It takes about 20 nodes to reach from New York to San Francisco.

A mix of directional and omnidirectional antennas of various ranges will be used. The example antenna that Synth talks about will not be the only one.

Backhaul will be for those willing to put the time and energy in to operating. Akin to running a business with similar rewards. Just like BTC mining wasn't for the incompitent when it was first gaining traction.

[Anonymous No.10945869]

>>10945538
You'll get there ;)

https://vocaroo.com/i/s0WknLU9p8D2

[Anonymous No.10945886]

>>10945504
Top kek, you do know how 4chan works right Carson? This thread will archive and vanish. Go back to plebbit faggot you're not fooling anyone here acting all flamboyant.

[Anonymous No.10945912]

>>10945415

https://youtu.be/6LUpt1py5Wg

[Anonymous No.10945928]

>>10945912
lol

>>10945415
OP u a little queerbaby

[Anonymous No.10946013]

Nice try OP.

[Anonymous No.10946033]

>>10945504
1x24=100

Herp deeee durrrrr herp durrr

[Anonymous No.10946054]

>>10945835
Have nothing to say for the topic attacks the OP. True brainlet.
>>10945836
You are not offering them the internet you are offering them the skyversion of the net. How are they going to make a normie book account?
>>10945865
Fair point however would owning such a antena be more costly than the profit in coinhour.
>>10945869
Not gonna open it.
>>10945886
Yes i am aware how the mongolian dorito folding board works. By mesteriouslly vanish i mean gets del. From plebit.
Also not getting your info from all sources.
>>10945912
>>10945928
>>10946013
Literal shit posting. Nothing to disprove the said so i am gonna trow shit.
>>10946033
Whats the problem with the example it can also be 2738383 coins a day. Roundes numbers a simplier to work with.

[Anonymous No.10946079]

>>10946054
The problem is your are fucking stupid and cant even do basic math or understand how coinhours work

[Anonymous No.10946105]

>>10946054
>skyversion of the net
Actually, you're allowing them to choose. There will be exit nodes on to the legacy internet where they can use legacy websites to their heart's content.

>than the profit in coinhour
Nobody knows the profitability of coinhours yet. No point in speculating but it will obviously need to justify equipment costs.

>Not gonna open it.
It's vocaroo you fucking newfag.

[Anonymous No.10946203]

>>10946079
This exactly how they explain they will work. Its not rocket science go listen on a interview or two.

There no certain amount yet know how much coinhour are going to amount to 1 skycoin. So speculation as exaples are okay.
>>10946105
It is true that no body knows how much a coinhour will cost. But how much better owning a node has to be compensate the fact simply holding skycoin gives you coinhours needs to be drastic.

Yes i know its vocaroo I am simply cant open it now as i not at home.

[Anonymous No.10946205]

>>10945415
Those aren't fundamental problems, that's a shill post as evidenced by the fact that it's still up on skycoin reddit.
Here are the actual problems:

No consensus algo

Unreliable devs hold 90% of the supply in unlocked wallets

The entire "blockchain" is run from one server in the dev's office. It's a database.

[Anonymous No.10946336]

>>10946203
You continue to say stupid shit. What's funnier is your original post is also wrong and you are now steering clear of the simple mistake there are only 24 hours in 1 day moron if you have 1 skycoin you make 24 a day jesus fucking christ you boomer

[Anonymous No.10946354]

>>10946205
Your life must be boring as hell. Lmfao

[Anonymous No.10946388]

>>10946354
I'm not the one making 7 posts about fucking skycoin lmao

[Anonymous No.10946779]

>>10946336
You are mentally chalanged zoomer, no other way around it.

There is no reason to get 1 coinhour from 1 sky coin every hour so you get 24 in a day.

You might get 1000000 coinhours every hour from 1 skycoin.

>Inb4 Herp derp its in the name its "coinhour" this means....

I should make a coin named dollar so zoomers will insist just because its named dollar its worth 1$

[Anonymous No.10946823]

>>10946205
>building consensus before Skywire, which operates consensus
>not grasping the concept of timelocked coins
>not realizing that multiple masternodes are deployed around the world

[Anonymous No.10946831]

>>10946203
>owning a node has to be compensate the fact

No shit, captain obvious.

[Anonymous No.10946888]

>>10946831

Owning a node has to be vastly more profitable than owning just Skycoins in wallet somewhere.

Did you need me to hold yor hand when you pracrice reading comprehantion on the internet, anon?

[Anonymous No.10947122]

>>10946888
At least you can type coherent english. Help your cohort.

So far testnet has been structured with miners achieving ROI in about two months. Looks like they're doing just splendidly on that front.

[Anonymous No.10947563]

Oh my god, a project that tries to solve actual problems, has huge engineering challenges ahead, invite to participate and it is too hard to comprehend to the average Joe. SCAAAAAAAAM

[Anonymous No.10948346]

>>10945504
>Mysteriously vanish
Get over yourself. You're assuming that the conversion rate of coinhours to sky is fixed when it will be determined by the market. Retarded example that doesn't consider the dynamics of inflation and velocity in determining purchasing power.
>>10945512
Ideally yes. What amount of skycoin is this being compared to?
>>10945520
More traffic = more rewards. Nodes will also be subsidized with Skycoin during phase1(testnet) and phase2(mainnet) of the skywire adoption model to encourage density. DYOR should have probably included looking into the business whitepaper.
>>10945527
Clearly haven't looked into anything. CXO solves part of this as the data can be stored locally and shared to peers like DHT. Exit nodes could also rent submarine cables
>>10945538
I'm curious what you actually researched before posting any of this. Seems like not a lot. The Skycoin blog is a great resource.