Blockchain thats been in developement since the bitcoin early days, fixing literally all of the issues with bitcoin: >web of trust algo that got rid of the miners and pos hoarding from network operation >fixed double spending >fixed signature malleability >51% attack impossible >secure deterministic wallets >coinjoin protocol for privacy >created their own networking protocols for consensus verification >uses a lot less resources than bitcoin nodes >soft coded blockchain size parameter for ez scaling >provably hundreds of txs per second >no tx fees >timelocked distribution over a 14 year timeline >massive ecosystem being built around it
Coin itself is used for operating skywire, a new decentralized internet built from the ground up, designed to be in every way better than tcp/ip >designed to be ran on their own open source hardware infrastructure >uses public keys instead of ip addresses >all traffic encrypted by default >man in the middle attacks impossible >nodes forwarding traffic can only see the previous and next hop, not origin or destination >latency superior to ipv4 because ISPs use hot potato routing and skywire doesnt >speed superior because bandwidth aggregation is possible, using the unused bandwidth of your neighbours >immune to all of ISP fuckery such as throttling, censorship, outages etc >works as an overlay over the current internet as of now, but will be completely independant as soon as the network backhaul is in place >incentivized for the first 14 years, you get paid for running a node and transferring packets for the network >it will be faster and pretty much free, no way current ISPs can compete
All of this already works, it's a massive project with like 80 developers, check their github. Why the fuck aren't you all over this?
I don't currently own any SKY because I was worried about a bearish turn so the corporate-backed coins are a lot more attractive right now.
But these guys are definitely absolutely legit. Love the Synth interviews, love their approach to crypto and decentralization, love the community dedication, love the github. Hope they finally get the respect they deserve and get peer reviews instead of remaining a low-key community project forever.
That said the project focus and marketing are a bit off but I think that's understandable since the devs are a bit crazy.
Juan Davis
Corporations don't do shit in crypto it is just a bunch ob whales and oligarchs you delusional cuck.
Joseph Clark
Better buy it on binance for 200 dollars then. Biz loves to buy in late.
Kayden King
Wrong, XLM is probably the only crypto that has demonstrated real industrial benefit and interest. It's technologically ahead of most other cryptos and has a realistic shot at becoming the SMTP of value as per their vision. I'm all-inning it for now but will be back for SKY.
Jason Rivera
what are these corporate backed coins you're talking about? You mean platform tokens?
Christian Allen
Fuck I love the Synth adderall laugh when he gets excited! Respect
Mostly XLM, I'm not too confident about the rest being suited for industrial use in the end. XLM is good because it doesn't pretend regular people are gonna run validators and uses a synchronic ledger instead of a blockchain.
Adrian Cruz
Why it instead of ripple?
Christopher Rodriguez
one of my comfy bags tbqh. The fundamentals seem amazing, the only thing that's lacking is hype.
Colton Foster
Delusional as always
Sebastian Wright
XRP isn't really decentralized because the UNL is supplied by Ripple and can't be diverged from safely. It's also run by a for-profit and it's not open to the people. Worst aspect is that we have no certainty the XRP token is gonna get used ever.
Andrew Stewart
Its building up so slowly but once this rocketship starts its gonna be moon straight to top 10 on cmc
Isaiah Gonzalez
Please do provide arguments for fruitful discussion instead of retarded kiddie slander.
Ryder Myers
like 99% of Cryptos are centralised
Cooper Perez
My miner is getting shipped guise
Xavier Scott
Depends on what we mean with decentralization. Some nitpicks will call anything centralized, but cryptos like XRP and NEO are centralized by design, they're not just currently centralized, their protocols prevent them from ever becoming properly decentralized. That's where I draw the line.
Nolan Gutierrez
Post here when you get it.
Christopher Brown
>$36.00 a coin. Take your sky coin and shove it up your fucking ass and lick the poop off your fingers you filthy degenerate.
Sebastian Anderson
I have 37 skycoin please tell me they'll be worth 10000 each one day
Elijah James
I don't understand how this can get around things like throttling if it's reliant on the ISP we pay internet for, it's not like it has access directly to the ground wiring either so we can't simply stop paying our ISPs
Ethan Gonzalez
>20 shillpoints have been added to your account
Ayden Lee
500 EOY faggot. Imagine the press when the whole thing start running.
Connor Hall
They're gonna use wireless connections. Sounds crazy but it may actually work. Cables would still be used for cross-continent connections.
Aiden Rodriguez
You are the kind of guy that called bitcoin a scam 6 years ago and now you talk shit about the most comfy hold ever.
Kevin Russell
why are you salty, $36 is fucking nothing
Liam Watson
wireless meshnet, they're not going to rely on ISPs at all. 5G is coming in the next couple of years.
Joshua Johnson
They will fuse it all together
Hunter Watson
So essentially this is going to offer a 5g network on the cheap simply by buying the coin? That's big af if true but how does this system incentivize the users to stay on board, after a large pump? Since fees are supposed to be nonexistent/free, what will make someone offer up their bandwidth to keep the net running quickly and unsegmented?
Christopher Stewart
They say join the telegram to ask the questions.
Robert Lee
Bandwidth is paid with coinhours. You get coinhours just by holding SKY in your wallet (as NEO gives GAS).
Logan James
desu I'm pretty hazy on the value of coinhours as well. Are they gonna be worth anything? They're inflationary after all. Is it enough to incentivize hosting miners in the long run?
Joshua Robinson
The "miner" will generate Skycoins not just Coinhours
Matthew Lopez
Seriously, for those who are sceptical on Skycoin,
If you like the uncensored nature of Veeky Forums you should also back what SKY is trying to accomplish.
Nicholas Carter
What role do skycoins play beyond generating coin hours?
Tyler Brooks
Huh, that's nice. Sorry for the babby questions, but do you know how the mining works since the network doesn't require POW?
Eli Phillips
The CoinHour economy works like this
You get - 1 skycoin coinhour per skycoin hold in your wallet, each hour - coin hours can be sold. So you generate 8640 CoinHours per year, per Skycoin in your wallet. - the coinhours could be $0.10 each or something (I have no idea) and its like $86/year (say $100/year for each number) - if Skycoin is at $1000 dollars, then $100/year in Skycoin Coinhours would be "10% per year", etc you earn 10% monetary value per year in CoinHours for every dollar of Skycoin in your wallet. For every $10 of Skycoin in your wallet, you are earning $1 per year if "interest rate" is 10%. - The interest rate is set by the ratio of the Skycoin to CoinHour exchange rate. In reality the first year interest rate could be over 80%.
The actual interest rate in first year is going to be like 50% or 80% or something absurd. I did them before and have trouble believing the numbers. Its like someone telling you "Bitcoin is going to go from $0.01 per Bitcoin to $10,000 in four years" and anyone looking at that will say "That impossible!", but that is what the mathematics says.
The CoinHours per hour are fixed, while the bandwith consumption is increasing exponentially; which means an exponentially increasing CoinHour price; which means the interest rate on holding Skycoin is increasing exponentially.
The "interest rate" has to fall. Since the price of CoinHours cannot decrease (fixed number of CoinHours per hour, with exponially growing bandwidth usage and spending of coinhours, following user growth), then the price of Skycoin must go up until the "interest rate" is low enough that it is not causing a buying frenzy anymore.
Gavin Reed
That does make sense, thanks for the spoon feed. If coinhours will be required for transactions they'll need to have some value, and if the rates decrease like you said that will increase demand further.
Levi Price
Give it 2 more months max and Veeky Forums will be all over this
Robert Jenkins
As a currency I suppose. One that's technologically superior to anything that we have now.
Chase Martin
wasn't it already confirmed a scam?
Camden Hughes
Cryptopia is the best exchange you plebo
Grayson Myers
your mom is a scam
Xavier Ortiz
Most definitely not a scam. If it was they could just have exited years ago. They have a big marketing problem and a lack of focus, but the project is legit and the github is there for anybody to see and compile the stuff yourself.
Andrew Parker
I hear there was some crappy FUD on reddit last day, care to share info?
Justin Gonzalez
btfo
Charles Robinson
The marketing and focus are slowly getting there, they finally hired a proper marketing director, advertisement campaigns are starting. And they seem to be sticking to their deadlines pretty well now, should get some hype as the miners get shipped.
Nathaniel James
Substratum whupped their hind ends real good
Ethan Turner
Substratum is a fucking joke. Its just hyped right now because they piggy backed off brainlets freaking out about Net Neutrality. The reality of the matter is that since Sub is built OVER existing internet, IPs and Governments can just fucking block their nodes. Rendering them totally useless. If people knew that skycoin was decentralizing the actual internet and building a whole new system they wouldn't even give a fuck about Sub but people are brainlets and dont DYOR.
Brayden Murphy
Yeah it's nice. The test ads they made were kek-worthy though, made it seem like a complete scam. I'm sure they'll get some more organic hype & awareness soon.
Substratum doesn't even have a product, it's just one of the things that mooned due to the market's idiocy.
Samuel Moore
Substratum is a scam tho
Bentley White
inb4 butthurt substratters lmao
Jayden Sanchez
When you ask the substratum devs specific question about the code base they are just banning you.
Christopher Howard
There is a group of people that wanted to fuck over the devs with very cheap otc and they are mad the devs did not give it to them. They are pissed.
Anybody know how they're gonna solve sybil attacks? Haven't seen mentions about that so far. I heard they're gonna have public identities for nodes, but how are nodes gonna find each other without the risk of getting sybil attacked?
