Hello guys, I m going to invest in RLC , but I have several questions,can some1 answer to me ? Will RLC be more profitable than mining ? Who will pay to me and for what ? Is there enough tasks for every supplier ? Who are consumers ?
I think when we have access to some months worth of KPIs itll be easy to see if building a rig to specifics will be profitable. But we would need info on $ value of buys in RLC on the market, specifications of other workers ( public + private), reputation of other workers etc. I suspect it wont be profitable to build iExec specific rigs in the next 12 months or so (I could be wrong!), with most workers provided either from private workers such as TF Cloud or public workers connected with hardware they already own and is currently idle or used for less profitable means (potentially mining).
The most interesting relationship to see develop is profitability of being a worker for iExec vs cpu mining cryptos
The thing is... Bitcoin can never ever be linked to gold! And never should! It would be wiser to compare Bitcoin with something along the lines of a nation or world-wide used currency as the U.S dollar for example. Which is used as an SOV, a global currency, in many markets and decided upon by far more governments, institutions and enterprises then just the SEC commission. A bunch of bureaucrats deciding the fate of our "gold" is just wrong.
Around 90% of the mined BTC is sitting in 0.5% of all the wallets. And around 65% of all BTC is owned by 0.07% of the wallets. An incredible amount of wealth within the hands of a select few.
Gold is stored as an SOV by every country and bank to backup their own currency. And almost everyone in world owns a bit of gold. The mining of gold isn't as centralised as BTC either. It's a mineral that's hidden in every corner of this earth and has thousands of years of history as being seen and used as an SOV.
Nevertheless don't take all of my comments literally! I tend to be frustrated about the bear market as anyone else would legitimately be. I hate my own countries currency with a passion too, because it's owned and controlled by my government and most of it is held in the hands of a select few. Still I love it just the same, because with it I can sustain a great life for myself and the people I hold dear. It's a hate/love relationship. For me it's the same with Bitcoin.
What we need in cryptocurrencies is our own digital gold! Something (Almost) completely decentralised and thrustworthy in the hands of many. Bitcoin will probably stay a global currency and a SOV in the blockchain markets of the futures, but it should NEVER be the base SOV of all cryptocurrencies imho.
We need something better is all I'm saying.
It just someone running the monero miner on iexec, who is saying that there is any collaboration with monero?
Mining doesn't make much sense as a usecase anyway imho, someone would only offer you his computer for mining if he makes more then mining himself. So the requestor pays more then mining himself, why would he do that? The only reason I can think of is gaining massive amounts of compute power for a short time to perform 51% double spend attacks on shitcoins (similar to the nicehash attacks)
Mining pools for connected workers to switch to whilst waiting for marketplace jobs? Perhaps a feature to market sell mined coins (incase there will be multiple coins mined, starting with xmr but ultimately not limited to) for RLC every 24hr/week/month to be awarded pro-rota to the workers.
Not sure how technologically feasible it would be but could make more economic sense than just users buying mining power/time
Not really - the provider will set price point above what he can make with mining, presumeably mining the most profitable coin. Thus buying mining power will always be unprofitable, its making a minus for the requestor. Elastic hash capacity and easier installs don't matter if you can't make a profit.
Some people don’t want to deal with the risk associated with mining. It’s why banks rather loan money then buy the property the loan is being used for. Even if the property owner is going to make more than the loan fee schedule...
Tholas, I acnowledge your research and knowledge, but with respect to you - you are wrong here.
IaaS stands for infrastructure, it is typically VMs or containers. And the key factor to understand this layer is that it does not interfere with application. Raw computing. As opposed to PaaS.
If IaaS, then plain software can run. Any software. A server. Open socket, you know.
iExec requires you not only to register your dApp onchain, but aldo to register each dApp execution act, and also it requires you to pass all your input data via iExec and also make a hash of all output (PoCo).
It is good for making computation result consensus, but this is a critically impacting limitation on the application you may run this way.
I think we used to discuss it here already.
If you want to host a server on IaaS - you open socket and listen incoming connections. That's it. Any connection: https, ssl, tcp, ip, icmp, grpc, your own.
It is completely impossible with PoCo. You can't open socket and listen incoming connections (which most software is doing).
Your incoming connection must pass blockchain, buy order at market, call dapp, wait for all blocks to be mined, pay gas, wait for poco cycle. It also must be deterministic requirement (not chaotic).
I meat compare:
"Open any TCP socket" on IaaS
"Call blockchain, pay gas, wait minutes (block mining time and confirmations), you must use specific protocols, you cant stream video etc" - on iExec
Do you agree this is a kind of very serious limitation on the app compared to what is usually called IaaS?
Do you still find it posdible to call iExec an IaaS?
I had a few questions.
1) I was looking around and couldn’t find if gpus were supported or not yet. If they are will this be more profitable than regular mining?
2) what are special hardware requirements except gpus?
I did not say that, btc hashrate makes it superior in terms of trust, history, first-mover-adv etc and security, apart from mining-centralization. My point was that public perception of bitcoin being able to scale or innovate is low.
Had an idea.
Could a cryptocurrency use iEXEC proof of contribution for purposes of merged mining?
For example a Bitcoin clone using PoC to mine blocks.
This would make mining useful while still allowing crypto to use mining as a way of achieving consensus.
Exec is partnered with a number of different organisations. Product collaborators: Intel, Ubisoft, RSK. Resource Providers: Genesis Mining, Cloud&Heat, Stimergy, TF Cloud, Nerdalize. Consortiums and Working groups: Enterprise Ethereum Alliance, Ubisoft Incubator, OpenFog Consortium, China Computer Federation, Chinese Academy of Sciences, INRIA, CNRS.Source : https://iex.ec/faq/