Filecoin Foundation Donates $10 Million Worth Of Filecoin To Internet Archive

from the huge-news dept

Some really fantastic news if you believe in (1) the wonderful work the Internet Archive does and (2) the future of a more decentralized internet (and, for what it’s worth, you should believe in both of those things). The Filecoin Foundation has donated 50,000 FIL to the Internet Archive. This is approximately $10 million worth of Filecoin, which represents the largest single donation to the organization. Obviously, by the amount alone, this is a big deal and hugely important for an Internet Archive that is currently facing an existential legal attack by publishers who hate the very idea of libraries.

But it’s doubly interesting, because Filecoin is a key component that many are hoping will empower a new more distributed web. And it appears that the Internet Archive is looking to take advantage of this aspect as well (as it should):

?Holy Crow! This is a big deal,? said Brewster Kahle, the Internet Archive?s founder. ?And what are we going to do with it? We?re going to invest it in making the Internet Archive more decentralized, so that our digital history is available from thousands of computers, not just a few. The idea is to make a robust and private Internet that has a history that will persist over decades and maybe centuries.?

This is amazing news and exciting for both the future of the Internet Archive and a more distributed internet, not under the control of any single big internet giant.

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Companies: filecoin foundation, internet archive

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Comments on “Filecoin Foundation Donates $10 Million Worth Of Filecoin To Internet Archive”

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Anonymous Coward says:

Re: So, they got nothing - because cryptocurrency is complete BS

They’ve definitely got something, which may or may not turn out to be as useful as 10 million American dollars in the end. (Remember that American dollars have not, themselves, had any "real" value since 1971; and of course gold is treated as much more valuable that can be justified with practical uses.)

It would be prudent for them to convert to a more practical currency as soon as possible. But it might not lead to a favorable result (i.e., there’s a chance they’d get more value by keeping it in Filecoin).

Upstream (profile) says:

Re: Re: Re: So, they got nothing - because cryptocurrency is com

What about pizza_and_beer (which is actually one word)?

Seriously, I think some things like food can be said to have some intrinsic value, at least to critters that eat said food. Unless there is an infinite and effortless source of said food, which really isn’t a possibility.

Anonymous Coward says:

Re: Re: Re:2 So, they got nothing - because cryptocurrency is

Seriously, I think some things like food can be said to have some intrinsic value, at least to critters that eat said food.

Even with infinite supply it would have value to those who believe life has value (i.e., they’d still choose to acquire it). But that’s not intrinsic value, just a side-effect of our evolutionary bias in support of continued existence.

Anyway, it’s all beside the point. The US dollar has value because people believe it has value; the same is true of gold, food, filecoin, and tulip bulbs. Value is an opinion and doesn’t have to be numeric in nature. Archive.org needs things such as digital storage devices, network access, real estate, and human labor. Whatever helps them acquire these things has value to them.

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PaulT (profile) says:

Re: So, they got nothing - because cryptocurrency is complete BS

"If you can’t buy groceries with it, IT IS NOT A VALID FORM OF MONEY"

I can’t buy groceries with the US Dollar where I am, so by your standard it’s not a valid form of money.

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Upstream (profile) says:

Future of cryptocurrencies

I am all in favor of the concept of decentralized means of exchange that cut out governments and bean-counters altogether. However, I am not yet convinced that our current crop of cryptocurrencies are the solution. I am also a late-adopter in general, and I try to avoid getting cut on the bleeding edge of any new technology.

Bruce Schneier and Barath Raghavan have an interesting article on some of the positive features and possible pitfalls of blockchain cryptocurrencies as they stand right now.

tl;dr
The last line of the article:
"We are watching a public socio-technical experiment in the making, and we will witness its success or failure in the not-too-distant future."

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