Sia Coin Burn?



  • As I understand the road map the proof of burn is yet to be implemented, not active already, but I can be wrong :-)



  • @larsfloe I was told in slcak the collateral is burned its also something I overlooked??? But in the 5/24/2017 "How to run a Host on Sia" Documentation .. it clearly states the collateral is locked "INSIDE" the contract. IF it is burned after contract is over.. whats the point of it existing and where exactly will these "burned" funds go?

    My mind envisions some Nebulous wallet loading up on SC collateral LOL... IJS.

    Unofficial User / Tester / Analyst of Sia ( w/Renter and Host experience)

    -2




  • @andyg not impressed... I think Sia means well.. but I think another (more focused and capable group) will come along and get this done right. Just waiting. lso talk is cheap. I been seeing many videos on Sia- but a lot of what they say does not match with what has been put out.

    Unofficial User / Tester / Analyst of Sia ( w/Renter and Host experience)

    -2


  • @moorsc0de said in Sia Coin Burn?:

    @larsfloe I was told in slcak the collateral is burned its also something I overlooked??? But in the 5/24/2017 "How to run a Host on Sia" Documentation .. it clearly states the collateral is locked "INSIDE" the contract. IF it is burned after contract is over.. whats the point of it existing and where exactly will these "burned" funds go?

    My mind envisions some Nebulous wallet loading up on SC collateral LOL... IJS.

    Please avoid making sweeping statements that have no basis in fact. It's reckless, ignorant and dangerous to new users. People are less interested in what your "mind envisions" and are more interested in fact. If you intend on helping, then you should focus on the facts, not speculation.



  • @beardo Sia's interface is reckless (in part) It does not do what the creator says it will do.. but who are you to tell me what I can say? If Sia can create a coin and talk about its splender, and steal coins from people- who gives you the right to tell me what I can and cannot say?
    The forum needs to be careful who they approach with the abuse. Feedback is communicated when it is required.

    The point has been made that proof of burn is to avoid some sort of Sybil attack, but that is so hoaxey it makes no sense.
    Then another person has said in the slack that it was to prove the host is real. That too sounds ridiculous because any host that has formed a contract with a renter and also allowed data to be sent to their allocated storage is obviously REAL. or no?

    So please sir, I am poking fun.. as indicated by the LOL's. However some of the more serious explanations in the slack go beyond - reckless, ignorant and dangerous to new users.

    Unofficial User / Tester / Analyst of Sia ( w/Renter and Host experience)

    -4


  • @moorsc0de said in Sia Coin Burn?:

    @beardo Sia's interface is reckless (in part) It does not do what the creator says it will do.. but who are you to tell me what I can say? If Sia can create a coin and talk about its splender, and steal coins from people- who gives you the right to tell me what I can and cannot say?
    The forum needs to be careful who they approach with the abuse. Feedback is communicated when it is required.

    The point has been made that proof of burn is to avoid some sort of Sybil attack, but that is so hoaxey it makes no sense.
    Then another person has said in the slack that it was to prove the host is real. That too sounds ridiculous because any host that has formed a contract with a renter and also allowed data to be sent to their allocated storage is obviously REAL. or no?

    So please sir, I am poking fun.. as indicated by the LOL's. However some of the more serious explanations in the slack go beyond - reckless, ignorant and dangerous to new users.

    Feedback is great, constructive criticism even better. Unfortunately, there is a difference between what you've been posting and constructive criticism. I'm more than happy to take what you have to say seriously, once you start basing your arguments in fact. Up till now, you haven't.

    If Sia can create a coin and talk about its splender, and steal coins from people

    Misleading and no basis in reality. You've got absolutely not evidence to back up this claim and it is potentially off putting to new users who are trying to learn about Sia. That's dangerous.

    The point has been made that proof of burn is to avoid some sort of Sybil attack, but that is so hoaxey it makes no sense

    Not only is that wrong (you mentioned in Slack that you had no development experience, so I find it interesting that you know so much about how a Sybil attack works and the inner workings of the blockchain) but it is speculation and misinformation.

    To me, it seems that you lack a fundamental understanding of what Proof of Burn attempts to solve. On the Sia network where anyone can become a host, the question must be asked: how do we know that the person who is hosting my files, is hosting my files with my best interests at heart? That is to say, on a network that is random, how can we trust the host to do what they say they are going to do: host my files. The problem becomes even more serious when we talk about the network as a whole. What if malicious users were able to become a majority of the hosts on the Sia network? At that point, it doesn't matter what redundancy your files are stored at because chances are, your files are going to be stored by the malicious host. Now, the malicious host holding all of your files can demand a ransom in return for your data. That's a pretty serious issue which we label a Sybil attack.

    So, how do we solve this? Proof of Burn. If a host wants to prove that they are real, then they need to "burn" a small portion of coins. These coins are destroyed and can never be used again. The amount of coins that a host burns acts as a straight multiplier to their current hosting probability. That is, if they burn 0 coins they'll have their already existing chance of being selected as a host multiplied by 0; they won't have any chance of being selected. If on the other hand they burn 1000 coins, then they'll have their already existing chance multiplied by 1000. For two hosts that already have the same hosting probability before multiplying by their burned coins, the more coins each burns, the higher the chance of it being selected.

    But if a host is hosting files, they they are obviously real! No. There is nothing to say that I don't build up a large network over time and act "legit". Without something tangible that affects me, I can pretend to be a real host for as long as I like.

    So how does this address a Sybil attack? In order for a malicious host to become the majority of hosts on the Sia network they would need to burn a very large amount of coins to take over. This makes it financially unviable and prevents said attacks.

    Sources: https://forum.sia.tech/topic/108/how-sia-works and https://www.infoq.com/presentations/decentralized-storage



  • @beardo What I say can be wrong.. but its also nothing different than what others are speaking in the slack.. so you targeting me is rather childish.
    I have asked what proof of Burn was- never claimed to say I knew what it was.. no where on this thread. Matter of fact I have questioned why its required.. due to the replies I have been given and seen from others.

    If the concept is so well known where is in any Sia documentation? People using your or mine answer really are in no better position what so ever. So you attempting to target me on some childish behavior is well- childish. Sia should speka for their own platform - no?
    Or do you just like to enagage in circular banter? I dont.. I like to get answers.. but in the mean time- speculation is the order of the day.

    Unofficial User / Tester / Analyst of Sia ( w/Renter and Host experience)

    -4


  • @beardo by the way click on my name and look at my reputation- then click on your name. Nuff said. Its 10 times higher than yours bucko.. so I dont just come here and pick fights.

    Unofficial User / Tester / Analyst of Sia ( w/Renter and Host experience)

    -4


  • @moorsc0de said in Sia Coin Burn?:

    @beardo What I say can be wrong.. but its also nothing different than what others are speaking in the slack.. so you targeting me is rather childish.
    I have asked what proof of Burn was- never claimed to say I knew what it was.. no where on this thread. Matter of fact I have questioned why its required.. due to the replies I have been given and seen from others.

    If the concept is so well known where is in any Sia documentation? People using your or mine answer really are in no better position what so ever. So you attempting to target me on some childish behavior is well- childish. Sia should speka for their own platform - no?
    Or do you just like to enagage in circular banter? I dont.. I like to get answers.. but in the mean time- speculation is the order of the day.

    I'm going to reply to your points with quotes from your own posts and quotes from my previous post:

    1
    You said:

    What I say can be wrong.. but its also nothing different than what others are speaking in the slack.. so you targeting me is rather childish.

    I say:
    The difference is that people in Slack aren't pretending to know what they are talking about. They don't run the risk of persuading new users that there is something wrong with Sia and how it runs. Whether you do it on purpose or not, by providing incorrect information and failing to base any of your claims in any amount of fact, you mislead people.

    2

    You said:

    I have asked what proof of Burn was- never claimed to say I knew what it was.. no where on this thread.

    You also said:

    The point has been made that proof of burn is to avoid some sort of Sybil attack, but that is so hoaxey it makes no sense.

    You imply that you know what it is as you call it "hoaxey". If you don't know what it is, how do you know it is "hoaxey"?

    3

    You said:

    If the concept is so well known where is in any Sia documentation?

    I said:

    Sources: https://forum.sia.tech/topic/108/how-sia-works and https://www.infoq.com/presentations/decentralized-storage

    You said:

    Sia should speka for their own platform - no?

    Sia said:

    https://forum.sia.tech/topic/108/how-sia-works

    4

    You said:

    but in the mean time- speculation is the order of the day.

    I say:
    You're the only one speculating. It's dangrous and irresponsible.



  • @moorsc0de said in Sia Coin Burn?:

    @beardo by the way click on my name and look at my reputation- then click on your name. Nuff said. Its 10 times higher than yours bucko.. so I dont just come here and pick fights.

    Your reputation is -1.

    --
    SiaMining.com -- Your PPS Sia Pool.
    I'm not affiliated or work on the Sia/Nebulous team.

    1

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