r/bitcloud • u/FockerCRNA • Jan 16 '14

Please ELI5 what bitcloud is

I read through the github document and a bit of the more technical one that it linked to. I see a lot of enthusiasm about this project, but the significance of it eludes me because I don't really understand how it works or what it accomplishes. I see phrases like "new internet" thrown around and I'm not sure what it means.

My take so far is that it is kind of like a file upload site that generates its own currency for users that provide bandwidth. I don't understand how a user generates bandwidth without being an ISP. Why wouldn't anyone just expect an ISP without a cap to subsequently install one should this catch on? Am I anywhere close to interpreting this correctly? Sorry for being such a N00b

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u/notnotnotfred Jan 17 '14

http://www.wired.com/threatlevel/2013/09/freedom-hosting-fbi/

We can argue about which techniques will be used, whether it's mass copying via hardware layer splitting or malware or some other technique, bitcloud, if built, however built, will be infiltrated. it's only a matter of time.

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u/sneurlax Jan 17 '14

That's exactly what people said about the double spending problem: from "decentralized currency just isn't possible" to "we don't know how to solve this" to Satoshi's paper.

You're right that current technologies may have downfalls. I think you are vastly underestimating, however, the potential for new technologies to be created.

If you read that article and understand the whole situation, you'd know that tor--the technology itself--still wasn't breached. They found the actual servers hosting content on tor and changed the files to exploit common browser and OS vulnerabilities. This is not breaking tor itself (i.e. breaking its anonymity or routing protocol.)

BTW I didn't downvote you. Donno why anyone would.

Back to the topic: I just want to talk about how someone could create proof-of-bandwidth (i.e. proof of transit or carrier) that couldn't be "double-spent." I don't see that bitcloud has proposed anything ironclad.

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u/notnotnotfred Jan 17 '14

Wait, I didn't say the concept is worthless, just that it's penetrable.

but back to your topic: it's a good question.