Have you read any of anonymints posts? regarding sia ( he posed the proof of storage idea years before anyone else i believe) i think he said sia can never work (well proof of storage not just sia) so he abandoned the idea*** if i am misrepresenting what he said then that is my fault for not understanding it...
No, you got it right. Sia and Storj are not proof of storage, closest existing thing atm is BURST, and even that is seriously flawed, and that's just mere proof of erasure.
Not only him but a few top devs have said iota will eventually fail when the training wheels are taken off at some point.
Although a bit better theory-wise, IOTA is currently in very bad shape (mostly thanks to shoddy implementation). It relies on node trust, otherwise you could take it down with a moderate GPU mining rig. My opinion on it is basically "another maidsafe, perhaps marginally safer this time".
So these designs although they seem very interesting could be fatal.
Definitely, especially if the implementation is new, it's to be expected to be buggy for few years. Out of the bunch it was probably NXT with most famous glaring holes which were (luckily) silently patched. By extension, incidents like TheDAO bring all this to another meta level.
I am not betting against either of them but it is perhaps to early to tell if they are good new designs (have enough advatages over btc to merit any down sides they may have) or just different designs to bitcoin.
Claims to "replace" bitcoin is to be viewed with extreme suspicion. Personaly I'm looking for things branching out into spheres Bitcoin definitely cant do in its current shape.
I mean if bitcoin did turn out to be the best design we still have after a few years then those running hacks on top of it to provide great use cases that are not immediately there with just bitcoin then they are hopefully still going to have great value.
Bitcoin is arguably not the *best*, the strength of bitcoin is it's *conservative* design. Bitcoin is, for all intents and purposes, the first, most minimal (in terms of theory) and most tested implementation of trustless CC. Which bank would you prefer, one with 100 year tradition with history of prudence as well as various conservative warts from 100 year ago, or a new flashy hip startup?
Regarding bitbay however... although currently it runs on pos3 that code base is open to being altered. I believe DZ (bitbay dev) is in future looking at a few different possibilities. It hasn't as yet so i'm just talking dreams and talk until it has happened. I do think though he is capable of pretty much anything so when he tells me he is looking at doing it i do believe him.
Even the major ones like NXT, MasterCoin, BitShares all lost against counterparty and later eth. It's a risky bet to think blackhalo could fare better this time.
In terms of pure sales pitch, CLTV implementations like blocknet (or something similiar with fancy UX) are better in the near term. In the longterm, every bitcoin fork and their mom pulled CLTV from upstream, making no room for any intermediary currency for x-swaps, it would just add to the spread.
There is radix coming out I think that could be of interest to you since i have heard this is a real project but as yet is only in test net. I think this will be a new design. He apparently tried dag years back but discounted it due to reasons beyond my understanding and seems a very good developer.
eMunie sure knows how to keep hype for 3 years. Whenever this is done, there's usually good reason for there being no single line of code in years, and when something finally shows up, the results tend to be underwhelming. Though I'd love to be proven wrong.
I hold to my belief so far though that there are very very very few Real developers here that have the chops to make something other than like you say a standard clone of what we have with straight forward bitcoin.
One point you did make which i think is valid too is that sometimes the key devs that develop something new don't always end up with the best project based on their design. I mean take monero... I am not sure exactly but are the devs that made bytecoin (was this the original) even involved with monero? I did hear that the main designer of crytponote was CZ the dev of boolberry. However a few years back he kind of abandoned it or rather just left it to start another project. He still posts here and there but not too much. Either way right now monero seems king of that code base and the others...not so much.
Monero is quite unique because of its bullshit inception story, luckily it's not that common. Indeed in terms of "original", it should be probably clarified "the most accepted by the community". Given that monero was the first non-scammy fork of cryptonote at the time (though even there rumors exist that monero devs knew about the
AES exploit). Whatever, it's the "original" now.
Anyway nice to hear what you had to say.
can i please know your opinion on xby and xrb ? these seem interesting but for a layman as myself impossible to tell if they have merit fully.
XBY is generic rubbish. Didn't know about raiblocks until now, looks somewhat original, albeit not really sure yet as I had only cursory look at its cowboyish consensus code.
