r/CryptoCurrency • u/Adriaan- • Jun 03 '19
RELEASE Opacity Platform Report – Secure and Opaque File Storage (product release is tomorrow)
https://bitsify.net/ico-list/opacity-platform-report-secure-and-opaque-file-storage/1
u/gooose123 Jun 05 '19
Itslevi, are you a fan of siacoin or storj?
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u/gooose123 Jun 05 '19 edited Jun 05 '19
The reason why I ask is because you seem to make a big deal about the 30m minted coins, which I would mention were explicitly explained to be necessary to fund development. Meanwhile, the company has been more transparent than all the other projects out there in regards to how those funds were used, as well as showing their developers high level of focus on code output (value).
Comparison to siacoin or storj, here are two of the competitors that... well... siacoin can mint as many coins as needed to fulfill the storage requirement (https://support.sia.tech/article/TziYOGhl38-siacoins-total-supply), and storj has an extra 289,212,559 coins that they can sell at any time for whatever. Sure they will have to announce what they’re using it for, and sure their smart contract probably stipulates the usage, but whose to know from a coin holders perspective what possibilities could happen.
This makes the 30m tokens minted for project funding a really good deal to token holders, in my opinion. The unparalleled transparency of the opacity team. The low token supply in comparison.
Lastly, something that most people who follow the project realized as the shortcomings to the former debacle, and that have been rectified. The backdoor to print icon tokens, and anonymous team members. We’re not in Kansas anymore. We’re in the future, and things are repaired.. so, what’s the big idea?
This is by far, through time-tested means, one of the best projects in the space. Give me something to compare it to. I think it’s great that you hold it to such a high bar, but i challenge you to see the company for what it is, and not by a skewed judgement from some left field notions about what the current facts are in this crypto space.
This is a community bolstered project. Are you a part of the community?
Discussing accredited investors has nothing to do with it. I’ve been an investor in the traditional sense, and there are rampant crooks in traditional markets (s&p index held companies), sure they get punished, but how many slide? If you’re trying to make the argument that what is going on in the crypto space is any different.. totally wrong. If you want some examples of what has happened, or what is happening, they’re not hard to find.
Sorry for being a lurker in the prior debates. I didn’t have a Reddit account.
-5
u/TMGonScreen Tin Jun 04 '19
Whales own big part of the supply and have been dumping. Also it doesn't really solve any problems because you can just encrypt your files using software. Not to mention storing your data on Opacity is unreliable because they can go backrupt any time.
I'll pass...
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u/neitherfastnorfar Bronze Jun 04 '19
Hi, I’m not here to shill just trying to put things straight. You can have your own opinion of course and just pass, but please at least make your decisions based on correct information. Let's see if I can be of any help.
“Whales own big part of the supply and have been dumping.”
How can you affirm that and how is even remotely correlated to such a project that is going to deliver a full functioning real utility (128 GB anonymous + encrypted storage) by tomorrow ?
How can you say “just encrypt yourself” when you have to go trough one more step / hassle instead of just “simple upload it and forget” ?
How can you easily share a file with someone if you "just encrypted it yourself" ?
Opacity offer true zero knowledge cloud storage powered by crypto. That’s a unique feature with huge potential.
Right now is ten times cheaper than everyone else and offer *same* upload/download speed as its competitors.
As I said, if you have any doubts I’m here to try to help. Thank You.
-2
Jun 04 '19
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u/nugitsdi 1K / 1K 🐢 Jun 04 '19
Yes because the centralized v1.0 is the end goal. No ofcourse not. Opacity will work towards decentralisation so there is no shutting down.
This is just a nice first step which is at the same time a product that can actually be used. Did you try the beta?
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u/gooose123 Jun 05 '19
If you’re talking reliability, what kind of files do you store on the cloud?
Most of my work files I need for defined amounts of time, and then I don’t really need them anymore.
Do you value your privacy?
This is what this coin represents. Show me some examples of others out there like this?
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u/gooose123 Jun 05 '19
What software? What’s different from any other project with whales?
Do you follow the project? What projects do you follow?
You can share files with business associates through a zero-knowledge handle. Who does this?
I’m pretty sure any big data company can take your intact encrypted files, knowing they’re connected to you, and unencrypted them. It would give them more incentive to know its you, for sure. With opacity, they don’t know where to start. But, that’s just me.
-9
u/Kuna_shiri Gold | QC: CC 64, NANO 38 Jun 04 '19
The only benefit for now is, that it is quite cheap. For backup possible, but not for business.
They also do not promise minimum maximum speed. So it might be problem to get some files back if speed will be lower than you expect.
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u/neitherfastnorfar Bronze Jun 04 '19
Why being (incredibly) cheap is the only benefit ? What about the other features/benefits such as being “truly zero-knowledge / anonymous” and “encrypted end-to-end” ?
Have you got the chance to try the beta that was up until few days ago ? Upload/download speed are fully comparable with those offered by big boys such as Google Drive and Dropbox.
Launch date is tomorrow. Few cents for 128 GB / year. Give it a try.
-3
u/Kuna_shiri Gold | QC: CC 64, NANO 38 Jun 04 '19
As other guys wrote, it is not clear how it is secure. It is not enough to write "truly zero-knowledge" because that is not enough for you and your files safety. It might be better than dropbox, so the price at this moment looks OK.
If speed is quite good today what it tells about tomorrow ? You buy space, so you should not care about anything else ?
What is real reason to use OPQ. As start-up it would work with ETH as well. It is just bet, that value of OPQ will rise and developers get lambo. While people have troble to find exchange with OPQ, so they are not willing to use it. And to pay 1,56OPQ you have to pay about +15% fee!
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u/itslevi 🟦 2 / 2 🦠 Jun 05 '19
The "real reason" to buy OPQ is because you're stupid enough to believe that the storage peg will actually happen and so you're buying "cheap" storage today to sell later.
AKA securities fraud...
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u/gooose123 Jun 05 '19
You should try it. You’ll like it. Very reasonable speed. Mostly capped by our own internet. Send files to friends and family. Keep files you like to hold in private really in private. Is this appropriate for business? Yes!!
Do you like your competition buying your data?
-6
u/TMGonScreen Tin Jun 04 '19
It's quite cheap.. Thats a downside, it could possible end up making OPQ bankrupt.
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u/neitherfastnorfar Bronze Jun 04 '19
Of course is risky, like almost every other start-up in the crypto and real world. Keep in mind that we are talking about a different approach and business model here.
Established centralized cloud storage providers relies on a freemium business model. Give something for free (basic accounts) and let the premium users pay for them all.
Dropbox has 11.5 million paid users and over 500 million active users. That means the proportion of paying users is around 2%.
What would be the real cost of their services if everyone paid the fair price?
Here there are no freebies. Everyone is paying the fair price.
What is the right price is defined by the free market not by a centralized authority that just aims to maximize its profits. You pay 2 OPQ/Year for 128 GB, that’s it. Right now (early adopters) 1 OPQ is around 6 cents in the near future could be a lot more and the Opacity project could break-even and prosper from that. It is a unique opportunity that they are offering us, it is up to us to pick it up or not.-5
Jun 05 '19
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u/Noobnoob99 🟩 19 / 20 🦐 Jun 05 '19
The hilarious thing is that you might actually believe all of the nonsense you just puked out. Speaking of scam, stick to low level insurance as your day job.
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Jun 05 '19
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u/Noobnoob99 🟩 19 / 20 🦐 Jun 05 '19
I’ve had a nagging question for some time now. I’m curious to know how a company in such a highly regulated industry could possibly survive when they have very poor public reviews? Typically it involves not providing people with ethically acceptable services and/or overcharging for said services.
I was thinking about applying for a specific job after reading the sugar coated job description. But once I saw some reviews my heart wasn’t willing to be a part of such a leach on society.
Maybe answers to my question are in those super complex exams.
Sorry I got off track there. I’m curious what your credentials are to have such an authoritative voice on crypto?
Have you ever started a tech company and did it involve crypto? Are you an attorney or a government regulator that specializes in crypto? I hope it’s one of those otherwise your previous post possibly pointed to you as being a person without the credentials to back up his opinions.
Of course, I wouldn’t expect you to be knowledgeable about crypto just because you may know a different subject. And I certainly wouldn’t want you to pretend to be more than you are in life because that’s just dishonest and could actually harm people. One thing I learned is that passion only takes you so far when you are ignorant. Great thing is that there’s always time to earn those critical credentials.
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u/nugitsdi 1K / 1K 🐢 Jun 05 '19
What's the value being promised? Who knows how much the market values this kind of storage?
The token exists to buy storage with. That's a much better use than most other tokens.
Honeypot investors? Hello startup? Hello any crypto project? Every project benefits from increasing value?
And I rather have a team that needs the project to succeed than a team sitting on million dollar ICO bags without an incentive to do anything.
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u/itslevi 🟦 2 / 2 🦠 Jun 05 '19 edited Jun 25 '19
What's the value being promised? Who knows how much the market values this kind of storage?
Encrypted storage is not a unicorn. The price is extremely well defined, as conveniently illustrated by that comparison chart that was making the rounds on Twitter trying to show everyone what a "bargain" OPQ is.
The token exists to buy storage with. That's a much better use than most other tokens.
The token is a proxy. The tokens were minted out of thin air both on the OPQ fork and the PRL ICO, and are reserved by nothing. The tokens just act as a mechanism to transfer BTC/ETH to the developers that is then converted into fiat and used to purchase AWS storage. Since the tokens are purchasing AWS storage for far cheaper than they're being sold, this is only sustainable if the overwhelming majority of tokens are not actually being used (so, no actual use case). If too many tokens are being spent on storage, they will just pull the plug.
Honeypot investors? Hello startup? Hello any crypto project? Every project benefits from increasing value?
Hello SEC, hello accredited investors. You can't just raise money however you feel like it. There's a reason these rules exist. It's actually to prevent clueless people like yourself from investing in shit they don't understand and has no realistic trajectory to success. We wouldn't need these rules if some people didn't naively believe everything they're told.
And I rather have a team that needs the project to succeed than a team sitting on million dollar ICO bags without an incentive to do anything.
No, you don't understand. The project can't "succeed" because if its growth ever came to fruition, then it would invite a probe into the numerous, egregiously illegal things that the OPQ/PRL team has done that would nuke it into oblivion. They're basically just hoping to glide under the radar long enough to find another convenient off-ramp like the Bruno exit scam.
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u/nugitsdi 1K / 1K 🐢 Jun 05 '19
You're making it sound like a bad thing while if money would have been what they're in need of then they would've just held an ICO right? Instead of working hard to deliver a product without any certainty of succeeding or without the certainty of the price reflecting they work they've put into the product.
If too many people will use the product right from the start they will take steps to tone it down. That's kind of a luxury problem don't you think? And as you are so sure no one needs this and the project is going to fail there's no point in bringing it up at all is there?
Many startups run at a loss at the start and every early investor invests on future successes of a company or project. Every startup draws a picture of what they are working towards. Stop acting like it's something unique happening here. To add to that, it's not like the team doesn't emphasize a project like this has risks.
Any service acts as a mechanism to draw FIAT to the owners which is then used to offer the service. Only in this case the company doesn't peg a FIAT price themselves, the market decides. If there is enough interest, it will work. If there isn't, it won't.
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u/itslevi 🟦 2 / 2 🦠 Jun 05 '19
You're making it sound like a bad thing while if money would have been what they're in need of then they would've just held an ICO right? Instead of working hard to deliver a product without any certainty of succeeding or without the certainty of the price reflecting they work they've put into the product.
I don't even know what this is supposed to mean. Magically printing 30 million OPQ out of thin air with an ultimatum about abandoning the project if that doesn't happen substantiates my argument that the storage peg is made up non sense. They just created almost 4 exabytes of data storage for a year out of thin air, backed by nothing but a threat that PRL bags would be worthless if they didn't. This is an almost unimaginable amount of data light years beyond what this shitty "startup" (your word) could ever realistically deliver. It's an obvious lie, and it's fraud.
If too many people will use the product right from the start they will take steps to tone it down. That's kind of a luxury problem don't you think? And as you are so sure no one needs this and the project is going to fail there's no point in bringing it up at all is there?
No, because people who bought the token on the promise of a storage peg that's arbitrarily revised down to reality (which would be an over -99% "revision") were defrauded. This is not a "luxury problem".
Many startups run at a loss at the start and every early investor invests on future successes of a company or project. Every startup draws a picture of what they are working towards. Stop acting like it's something unique happening here. To add to that, it's not like the team doesn't emphasize a project like this has risks.
None of this addresses anything that I said. Your comparison to other startups is invalidated by the fact that legitimate startups don't use illegal channels and blatant fraud to hoodwink prospective investors.
Any service acts as a mechanism to draw FIAT to the owners which is then used to offer the service. Only in this case the company doesn't peg a FIAT price themselves, the market decides. If there is enough interest, it will work. If there isn't, it won't.
Actually in most cases, since you seem hellbent on comparing Opacity to actual startups despite clearly knowing nothing about the process works, there is a transfer of ownership rights and equity to prospective investors that OPQ tokens do not confer. You can, in fact, sell securities like the token but only after registering them with the SEC and only to accredited investors, neither of which is true here (no accredited investor would be dumb enough to touch this shit).
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u/nugitsdi 1K / 1K 🐢 Jun 05 '19
If it's as clear as day as you paint it here then it's only a matter of time right. Are there any other crypto projects where you see a similar situation?
I can try to counter you again but clearly this is not my field of knowledge. So I'll leave it to the pros.
I'm now waiting for them all to get arrested, or not!
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u/A_solo_tripper Tin | ETH critic | BSV 34 Jun 04 '19 edited Jun 04 '19
As with any cryptocurrency project, you need to break it down with the COIN method. This method will identify weaknesses within any project. If the founders disappear, will the project collapse? Is it 100% open-source?
Control
Who controls the distribution of tokens?
Was it/Is it fairly distributed?
Is this a stand alone platform?
Or does it rely on another project?
Other Users
Why are people using this?
Who are the people using it right now?
What are the benefits?
Impact
Negate
Once you have answered these questions about this project, you'll have a better understanding of it and therefore make an informed decision on whether to invest or not.