A Severely Undervalued Decentralized Storage Project
I think the most controversial project in the near future must be Filecoin. When it is not online, it makes distributed storage a heat, and the popularity of the distributed storage field has once surpassed that of the project itself. Of course, if you plan futures early and sell before it goes online, congratulations on the profit! With the launch of Filecoin on the 15th of this month, the increase of the main network’s computing power suddenly dropped the speed by nearly 1 PB per day. The miner leaders led by the mining machinery manufacturers began to strike, and the computing power was no longer increased. The reason is that according to Fil’s nearly insane economic model, the coins dug out by miners need to be locked for 180 days. The problem is that mining requires pre-staking, so if you want to get more computing power, you can only go to the market to buy coins!
These problems among miners have not yet been settled, and the price of Filecoin in the secondary market has also decreased sharply, falling by more than 80% from the highest point compared with the price of more than $200 at the time when it was just launched.
Meanwhile, within hours of the launch on the exchange, 1.5 million FIL large tokens were transferred to an unknown address, and 800000 FIL was transferred to the Firecoin exchange. Members of Filecoin gave an official response, saying that the unknown account was an official account. The action was not cashing out, but for the market. On October 20, 30000 FIL was transferred out from the unknown address again, which is still under multiple doubts.
Of course, the much criticized is still related to the transfer of test coin into the main network. According to the official statement of Filecoin before, all sectors in zone 1 and zone 2 of the space race will be migrated to the main network, and the staking and block rewards of these sectors will also be transferred to the main network, which is the ultimate disaster for the secondary market. Before that, there even was a way to get test money for free, which was not for nothing! So FIL is a project for nothing indeed!
As a result, all kinds of swearing exists, public opinion can be summarized as follows: they have invested so much in Filecoin, the team has made money, the investors have made money, while others have a loss even the miners.
Whether the storage market will decline, and how the miners and the mining machines sold in large quantities (it is said to be more than 10 billion) can help themselves? After going to major communities and media, we find that MW, which is similar to FIL, should be FIL’s substitutes. This is not a branching project, it should be a Chinese version of Filecoin!
First of all, we will briefly introduce MW. IPFS is open source. Similar to FIL, MW also uses IPFS as the technical bottom layer to build an easy-to-use and available public chain of distributed storage network. In short, it is a pure technology project with no mode, and it mines like bitcoin.
Let’s take a look at the data comparison between the two:
The total amount of FIL and MW is 2 billion and 1 billion respectively;
The output of FIL in the first year is 152 million, and that of MW is 70 million in the first year;
The private placement price of FIL is about 0.5U, and MW is 0.03–0.05U;
FIL investors release for 6 months to 3 years, and MW investors release for two years (730 days linear unlocking);
FIL team release together with investors, MW team release half a year later than the investor (it is said to have just announced an indefinite delay);
Most of FIL’s miners are in China, and MW’s investors are FIL’s miners (there are dozens of miners in the recently announced list, which seems to have prepared early);
Here’s the key point:
The price of FIL over-the-counter futures was once about 30U, while MW was about 0.12U;
FIL was launched on October 15, up to 220U, and now it has about 25U, while MW has not been launched yet!
You will thank me a month later!
