Nic Carter on Siacoin

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Nic Carter is a partner at Castle Island Ventures, a venture firm focused on public blockchains. He also created Coinmetrics, a site that provides key metrics for crypto assets.

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Siacoin is a decentralized cloud storage platform on the blockchain.

Decentralized file storage

Siacoin reviews by Nic Carter

๐Ÿ”‘ 1 positive | ๐Ÿ’ฉ 1 negative

2017

  • ๐Ÿ”‘

    Siacoin's model, while convoluted, is also a nice innovation. A portion of every contract for storage goes to founders, so developers are incentivized to enable the production of many economically significant contracts rather than just pumping the price.

    Nic Carter, Partner at Castle Island Ventures and Co-creator of Coinmetrics

    2017-08-28 | Full Review

  • ๐Ÿ’ฉ

    Siacoin devs are considering hard forking the currency and depositing millions of coins a day into their own accounts, aka, expropriation.

    Nic Carter, Partner at Castle Island Ventures and Co-creator of Coinmetrics

    2017-07-11 | Full Review

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๐Ÿ”‘

Monero is one of the few projects with a genuine community.

Nic Carter, Partner at Castle Island Ventures and Co-creator of Coinmetrics

2018-04-30 | Full Review

๐Ÿ”‘

Numerai is probably the _only_ example of tokens in a tokenized network being used as a bootstrap mechanism. It's amazing what you can do when you optimize for growth and not short-term enrichment.

Nic Carter, Partner at Castle Island Ventures and Co-creator of Coinmetrics

2018-03-20 | Full Review

๐Ÿ’ฉ

Maker and Dai. Dai users return capital to MKR owners through the burn mechanism. At this point, the value of MKR (the derivative) is about 18x the value of Dai (the underlying). Channelling my best Matt Levine here: "This seems... wrong."

Nic Carter, Partner at Castle Island Ventures and Co-creator of Coinmetrics

2018-05-11 | Full Review

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๐Ÿ’ฉ

Looks like Siacoin devs soft forked their coin to gain a competitive advantage over a miner manufacturer.

This seems wrong from every perspective: it harms coin security and seems unethical.

2018-01-24 | Full Review

๐Ÿ’ฉ

The fact that [hard forking to fund operations] was even considered at all is a HUGE concern IMO. Developers and creators have a lot of influence and they have to be careful.

2017-07-11 | Full Review

๐Ÿ”‘

Sia works extremely well and was / is not possible on Bitcoin. Even if it could be ported to work on Bitcoin, it hasnโ€™t been done, so until that happens, itโ€™s pointless discussing it. Admittedly their userbase is narrow, but it exists nonetheless.

2018-02-10 | Full Review

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