Honestly, I think File coin and silimsr coins which try to bring a decentralized solution to the storage of information in the cloud are a good idea. Though, one of the problems I have seen is the apparent apathy people have shown towards these decentralized solutions to the storage of information.
It seems people and companies continue to prefer to use centralized solutions like Google Drive, Amazon or even Apple, this is probably because the lack of awareness by the clients of the existence of decentralized options like Filecoin or Siacoin.
Also, anyone considering to invest in this coin need to keep in mind that storage, specially physical storage is getting cheaper with each year that comes and goes, so individual people will have less need to store their files and pictures in a cloud service, people already are getting drives and micro SD cards of more than 1 Terabyte each for one-time purchase. So beware of those two things which are definitely an obstacle for the massive adoption of decentralized storage Filecoin wants to bring to us.
Topic: What do you think about filecoin? (Read 522 times)
Usually stay out of the altcoin world but since the op was @_act_ figure it's worth a comment.
As others have mentioned there are a few other coins that do things similar to filecoin.
Non of them are doing that well and in the end many will probably not make it.
Drives are getting cheap. Bulk storage is cheap. BUT if you are hosting a node and loose a drive even at cheap prices buying a drive is, using back of the napkin numbers about a 41 month payback. Figuring a 10TB drive is about $200 and you are making about $5 a month with it. That is a tough sell.
On a personal basis I can get a smaller cheaper drive for my own use.
For people who want the distributed private secure cloud storage it becoming a tougher sell since places that are not secure and distributed and private are becoming dirt cheap.
For $100 a year (or less) you can get Microsoft 365 Family which gets you 6 copies of office for people to use and 6 TB of storage.
That is what coins like this are up against. No it's not private or anything else. But it's cheap.
The payback on FIL mining is the most profitable of all known. The problem is that there is a huge barrier to entry... you need to spend tens of thousands of dollars on equipment and have tens of thousands of dollars worth of FIL coins at your disposal (this is a kind of guarantee that you will honor your obligations). But probably the biggest problem... is that even if you bought $100,000 worth of equipment, it will only work at full capacity in a year or so (that is, the first months of mining, your super expensive equipment will only work at 10% ... and with In time you will reach 100%). As others have mentioned there are a few other coins that do things similar to filecoin.
Non of them are doing that well and in the end many will probably not make it.
Drives are getting cheap. Bulk storage is cheap. BUT if you are hosting a node and loose a drive even at cheap prices buying a drive is, using back of the napkin numbers about a 41 month payback. Figuring a 10TB drive is about $200 and you are making about $5 a month with it. That is a tough sell.
On a personal basis I can get a smaller cheaper drive for my own use.
For people who want the distributed private secure cloud storage it becoming a tougher sell since places that are not secure and distributed and private are becoming dirt cheap.
For $100 a year (or less) you can get Microsoft 365 Family which gets you 6 copies of office for people to use and 6 TB of storage.
That is what coins like this are up against. No it's not private or anything else. But it's cheap.
Having analyzed this coin, one can express an ambiguous opinion, discussing its capabilities essentially will not give us anything if the project does not have technical development and prospects, the result in this case is always the same, negative. It is better to look for projects, but with a better economic structure, with a clear understanding of what it will look like in the near future.
I want to know your opinion about filecoin, this coin was created in 2017 if I guess right, it got to $238 in 2021 which was the ATH. As of today, the price is back to $4.5. That was a huge price drop, but I like the saying that a drop in price of a coin is an opportunity to buy, this is true for bitcoin because bitcoin will attain ATH, but not all altcoins were about to attain ATH. With what I am seeing about filecoin, I am thinking it can get to that price again which would be a huge opportunity, but I do not know much about the coin. Anyone that knows more about this coin can post here to let me know if the coin is worth going for or not. Thanks in advance.
From a technological perspective, it is one of the most demandable in the crypto space but from a tokenomics perspective it is trash. If you look at the price of the token you can be deceived because at $238, its FDV was massive which was reasonable to think so the holder dumped their token. I am bullish on its technology but there is still a massive token unlock happening so there will be continued selling pressure in the market. There are very few competitor projects in FIL so i am looking for a better alternative with healthy tokenomics.
I want to know your opinion about filecoin, this coin was created in 2017 if I guess right, it got to $238 in 2021 which was the ATH. As of today, the price is back to $4.5. That was a huge price drop, but I like the saying that a drop in price of a coin is an opportunity to buy, this is true for bitcoin because bitcoin will attain ATH, but not all altcoins were about to attain ATH. With what I am seeing about filecoin, I am thinking it can get to that price again which would be a huge opportunity, but I do not know much about the coin. Anyone that knows more about this coin can post here to let me know if the coin is worth going for or not. Thanks in advance.
As far as I can remember the price of FileCoin I noticed was in mid-October of last year when it was between $3-$4, now I see it above $5. I have very little experience with this coin. I think in the first week of this month when the price of Bitcoin went up, FileCoin pumped quite a bit and it went above $7. Currently the value of File Coin is slowly going down. Maybe its price may go up and down a bit further, I don't think it will return to ATH again. Such investment is actually a personal decision, risk can be done but I am not interested in investing in such coins for now. 
Usually stay out of the altcoin world but since the op was @_act_ figure it's worth a comment.
As others have mentioned there are a few other coins that do things similar to filecoin.
Non of them are doing that well and in the end many will probably not make it.
Drives are getting cheap. Bulk storage is cheap. BUT if you are hosting a node and loose a drive even at cheap prices buying a drive is, using back of the napkin numbers about a 41 month payback. Figuring a 10TB drive is about $200 and you are making about $5 a month with it. That is a tough sell.
On a personal basis I can get a smaller cheaper drive for my own use.
For people who want the distributed private secure cloud storage it becoming a tougher sell since places that are not secure and distributed and private are becoming dirt cheap.
For $100 a year (or less) you can get Microsoft 365 Family which gets you 6 copies of office for people to use and 6 TB of storage.
That is what coins like this are up against. No it's not private or anything else. But it's cheap.
-Dave
As others have mentioned there are a few other coins that do things similar to filecoin.
Non of them are doing that well and in the end many will probably not make it.
Drives are getting cheap. Bulk storage is cheap. BUT if you are hosting a node and loose a drive even at cheap prices buying a drive is, using back of the napkin numbers about a 41 month payback. Figuring a 10TB drive is about $200 and you are making about $5 a month with it. That is a tough sell.
On a personal basis I can get a smaller cheaper drive for my own use.
For people who want the distributed private secure cloud storage it becoming a tougher sell since places that are not secure and distributed and private are becoming dirt cheap.
For $100 a year (or less) you can get Microsoft 365 Family which gets you 6 copies of office for people to use and 6 TB of storage.
That is what coins like this are up against. No it's not private or anything else. But it's cheap.
-Dave
I want to know your opinion about filecoin, this coin was created in 2017 if I guess right, it got to $238 in 2021 which was the ATH. As of today, the price is back to $4.5. That was a huge price drop, but I like the saying that a drop in price of a coin is an opportunity to buy, this is true for bitcoin because bitcoin will attain ATH, but not all altcoins were about to attain ATH. With what I am seeing about filecoin, I am thinking it can get to that price again which would be a huge opportunity, but I do not know much about the coin. Anyone that knows more about this coin can post here to let me know if the coin is worth going for or not. Thanks in advance.
I have heard about filecoin before but never analyzed it myself. If I were to form my opinion on FileCoin I would say not to invest. FileCoin once made a new ATH all-time high, but is currently down from there. There must be a bigger reason behind File Coin losing so much value. Unique to Bitcoin's market growth, altcoins have largely recovered their prices, but filecoins haven't recovered much from those highs. Currently File Coin is priced at $5.44. FileCoin's price peaked at $430(Follow Binance). From here you can consider how much these few stocks can recover in the future. But if one can invest with his own opinion and own risk then surely you can invest.
I want to know your opinion about filecoin, this coin was created in 2017 if I guess right, it got to $238 in 2021 which was the ATH. As of today, the price is back to $4.5. That was a huge price drop, but I like the saying that a drop in price of a coin is an opportunity to buy, this is true for bitcoin because bitcoin will attain ATH, but not all altcoins were about to attain ATH. With what I am seeing about filecoin, I am thinking it can get to that price again which would be a huge opportunity, but I do not know much about the coin. Anyone that knows more about this coin can post here to let me know if the coin is worth going for or not. Thanks in advance.
My friend that thought of you thinking file coin getting to it all time high again, is what makes altcoins investment to be a gamble, because just as you mentioned in you comment that you are sure that bitcoin will make another all time high price, but unsure of altcoin, this statement point out the level of risk of one decide to invest in those coins simply because their have dropped significantly from their all time high price.You need to be very careful when choosing such coins for investment, I prefer to invest in new projects that got the hype than buying those coins that have already experienced a dump in their price previously.
This Filecoin, thread was discussed in 2022, and it has been resurrected today, so I think that if it's still discussed today then it could still have relevance, although I've not researched it, but if it's price is still in dip, then it's ok for it's investors to still be hopeful of it to pump. Remember that Solana, dipped quite low and it's investors kept holding until late last year when it made a big comeback, so if a crypto is not a shitcoin, then it'll surely pump again despite how long it stays on the low.
No coin is dead if the Blockchain is up and running. What only dies is mainstream demand/interest from investors and traders alike. I've seen "dead coins" rise from the ground up after the hype. Filecoin may not be as widely used as other coins, but it's still a good alternative against existing centralized cloud storage platforms. It can compete with Amazon, Google, and Dropbox if the community turns it into a "force to reckon with".
What the project needs is a strong marketing/promotion strategy to help drive demand for the coin across mainstream crypto exchanges. Hopefully, Filecoin would be able to stand the test of time alongside other projects such as Sia, and Storj. We can't predict the future, so lets hope for the best.
I want to know your opinion about filecoin, this coin was created in 2017 if I guess right, it got to $238 in 2021 which was the ATH. As of today, the price is back to $4.5. That was a huge price drop, but I like the saying that a drop in price of a coin is an opportunity to buy, this is true for bitcoin because bitcoin will attain ATH, but not all altcoins were about to attain ATH. With what I am seeing about filecoin, I am thinking it can get to that price again which would be a huge opportunity, but I do not know much about the coin. Anyone that knows more about this coin can post here to let me know if the coin is worth going for or not. Thanks in advance.
The past years, atleat we've learnt our lessons. Hitting All-Time high was the goal for these altcoins but any retracement back to ATL is mainly a big sign of bear and I wouldn't invest in projects that takes time to pump and dump. The only project I intend to keep for long period are bitcoin and Ethereum. Filecoin is another dump project I can possibly think of because the hugh dropped was not necessary. We know how terrible the bear market can be and how vulnerable we become when we see with our naked eyes, our portfolio bleeding from the heavy losses recorded. 
Op what you said is the truth but not for altcoins oh. When altcoins comes down or drop in price it will be very hard to it to rise again and if it rise up again it will take time and years to come before it will rise. Altcoins is not like Bitcoin that has periodic to fall and rise. This altcoins that you made mentioned here is new to me because this the first time I am hearing about it. And I believed it's because the dropped in price and if the price was still in the $238 as of the 2021, it would have been also trending in the ecosystem. As the price reduced, people became afraid and transferred their coins to another projects.
And this is one of the disadvantages of investing in altcoins because people that invested in the time when the price was going up to the $238 and thinking that the price would pump up but contradiction was the result for them. So most of them left the project nto another good project. Really as you said, people are just waiting for Bitcoin to drop in price so that they will invest massively and in this time when Bitcoin will start his bear market, many people will join the investment and the individual and group adoption of Bitcoin will be very high.
And this is one of the disadvantages of investing in altcoins because people that invested in the time when the price was going up to the $238 and thinking that the price would pump up but contradiction was the result for them. So most of them left the project nto another good project. Really as you said, people are just waiting for Bitcoin to drop in price so that they will invest massively and in this time when Bitcoin will start his bear market, many people will join the investment and the individual and group adoption of Bitcoin will be very high.
This Filecoin, thread was discussed in 2022, and it has been resurrected today, so I think that if it's still discussed today then it could still have relevance, although I've not researched it, but if it's price is still in dip, then it's ok for it's investors to still be hopeful of it to pump. Remember that Solana, dipped quite low and it's investors kept holding until late last year when it made a big comeback, so if a crypto is not a shitcoin, then it'll surely pump again despite how long it stays on the low.
Indeed, Filecoin is not a worthless project, it is certainly a good choice for investing, given its practical applications. You talked about Solana, I have been loyal holder of it during the whole period of bearish market, eventually it staged a comeback. I continued holding it as I believe that its true potential is yet to fully realized
Therefore, just as Solana regained its lost glory, Filecoin could follow the same trajectory. DYOR
Some coins show increase in price but this increase is temporary and it never shows such huge price again so I don't think that file coin will ever go to higher worth but still its up to you, if you wants to do investment in it then choice is yours.
You can hold it longer and may be the price once again goes higher but I will suggest that choose coins with solid foundation and previous success history because not every coin again attain the same upward price in their life span.
Such a huge drop is exactly an opportunity to buy coins in affordable price but buy file coin by keeping in mind that more dump will not make you sad because In crypto market everything is possible.
You can hold it longer and may be the price once again goes higher but I will suggest that choose coins with solid foundation and previous success history because not every coin again attain the same upward price in their life span.
Such a huge drop is exactly an opportunity to buy coins in affordable price but buy file coin by keeping in mind that more dump will not make you sad because In crypto market everything is possible.
I remember Filecoin was once a talk of the town I personally like their concept and I had my bets on Filecoin and Sia coin back in days and Sia coin couldn't capitalize but File coin did went on a rally during 2021 bull run and ever since it has not been able to recover back to even 10% it's ATH but we have seen gradual and continuous price increase especially this year. I am kinda fine investing into Filecoin as it has real life use case and it has one more opportunity in upcoming bull run. I would give it a try once again.
Ain't know much about this coin but AFAIK, this is a decentralized project, a decentralized file storage and sharing network which has a real utility that could be potentially used in the future. As you can see, most crypto users now are trying to avoid centralized services that are related to crypto, it could be a decentralized sharing platform like this will boom next year and might be worth investing a little that you can afford.
I think this is worth a long-term investment and if you feel that, it's time to fill your bag while the price is very cheap.
It's sometimes good to do some research before putting your investment into a project but if you don't want to do this, go for the safest investment which is Bitcoin, there's no need to dig research because it's proven and tested.
I think this is worth a long-term investment and if you feel that, it's time to fill your bag while the price is very cheap.
It's sometimes good to do some research before putting your investment into a project but if you don't want to do this, go for the safest investment which is Bitcoin, there's no need to dig research because it's proven and tested.
I think File coin has good real life use case of practical application of data storage, which attracted me and I purchase that t few thousand File coins it in year-2022 when its price reached its bottom at around $3.5. Since then, It has demonstrated significant growth. I plan to continue holding it for the next anticipated potential bullish market which may lead to significant gains.
This Filecoin, thread was discussed in 2022, and it has been resurrected today, so I think that if it's still discussed today then it could still have relevance, although I've not researched it, but if it's price is still in dip, then it's ok for it's investors to still be hopeful of it to pump. Remember that Solana, dipped quite low and it's investors kept holding until late last year when it made a big comeback, so if a crypto is not a shitcoin, then it'll surely pump again despite how long it stays on the low.
Ain't know much about this coin but AFAIK, this is a decentralized project, a decentralized file storage and sharing network which has a real utility that could be potentially used in the future. As you can see, most crypto users now are trying to avoid centralized services that are related to crypto, it could be a decentralized sharing platform like this will boom next year and might be worth investing a little that you can afford.
I think this is worth a long-term investment and if you feel that, it's time to fill your bag while the price is very cheap.
It's sometimes good to do some research before putting your investment into a project but if you don't want to do this, go for the safest investment which is Bitcoin, there's no need to dig research because it's proven and tested.
I think this is worth a long-term investment and if you feel that, it's time to fill your bag while the price is very cheap.
It's sometimes good to do some research before putting your investment into a project but if you don't want to do this, go for the safest investment which is Bitcoin, there's no need to dig research because it's proven and tested.
I think File coin has good real life use case of practical application of data storage, which attracted me and I purchase that t few thousand File coins it in year-2022 when its price reached its bottom at around $3.5. Since then, It has demonstrated significant growth. I plan to continue holding it for the next anticipated potential bullish market which may lead to significant gains.
I want to know your opinion about filecoin, this coin was created in 2017 if I guess right, it got to $238 in 2021 which was the ATH. As of today, the price is back to $4.5. That was a huge price drop, but I like the saying that a drop in price of a coin is an opportunity to buy, this is true for bitcoin because bitcoin will attain ATH, but not all altcoins were about to attain ATH. With what I am seeing about filecoin, I am thinking it can get to that price again which would be a huge opportunity, but I do not know much about the coin. Anyone that knows more about this coin can post here to let me know if the coin is worth going for or not. Thanks in advance.
what makes you think that filecoin can get to that price again? I saw this coin trading in Binance. but never traded it myself. I don't see anything special in file coin. I don't know why it reached to $2380 in all time high. the total supply is so huge which make me thing that was probably early day hype of that coin. Mate I think if you are looking for good projects/coin then there are many other options you can consider. even if you want to invest in filecoin you can do that. but I would not suggest you to expect it to reach to all time high again. i don't think this coin is good for hodling for long term purpose.
I want to know your opinion about filecoin, this coin was created in 2017 if I guess right, it got to $238 in 2021 which was the ATH. As of today, the price is back to $4.5. That was a huge price drop, but I like the saying that a drop in price of a coin is an opportunity to buy, this is true for bitcoin because bitcoin will attain ATH, but not all altcoins were about to attain ATH. With what I am seeing about filecoin, I am thinking it can get to that price again which would be a huge opportunity, but I do not know much about the coin. Anyone that knows more about this coin can post here to let me know if the coin is worth going for or not. Thanks in advance.
I doubt Filecoin is going to reach a new ATH, especially when demand for decentralized cloud storage is at its lowest. Most people prefer to use centralized alternatives such as Google Drive, Amazon Glacier, and Dropbox. Why bother getting into something that has a steep learning curve?
That is true we could consider that the demand for storage is definitely growing as more and more data are being produced and thus needs to be stored in a safe and secure place some people especially those deep in the cryptocurrency scene the problem is filecoin does not seem to offer that much other benefits compared to centralized storages aside from of course it being decentralized
If it were to offer more such as lower fees then i could see filecoin increase
I want to know your opinion about filecoin, this coin was created in 2017 if I guess right, it got to $238 in 2021 which was the ATH. As of today, the price is back to $4.5. That was a huge price drop, but I like the saying that a drop in price of a coin is an opportunity to buy, this is true for bitcoin because bitcoin will attain ATH, but not all altcoins were about to attain ATH. With what I am seeing about filecoin, I am thinking it can get to that price again which would be a huge opportunity, but I do not know much about the coin. Anyone that knows more about this coin can post here to let me know if the coin is worth going for or not. Thanks in advance.
Filecoin is one of the potential coins we can make our investment in and hold for a longer period, if you look at most of the altcoins, almost all of them had their highest performance in 2021 and made it through their all time high, though everything now is under risk taking z we can decide to make an investment on it and take the risk away or decided not to if we think we cannot afford to risk our money on investing on it, but it's a coin that has a future prospects if we buy and hold, more to confirm from it's market stats.
I want to know your opinion about filecoin, this coin was created in 2017 if I guess right, it got to $238 in 2021 which was the ATH. As of today, the price is back to $4.5. That was a huge price drop, but I like the saying that a drop in price of a coin is an opportunity to buy, this is true for bitcoin because bitcoin will attain ATH, but not all altcoins were about to attain ATH. With what I am seeing about filecoin, I am thinking it can get to that price again which would be a huge opportunity, but I do not know much about the coin. Anyone that knows more about this coin can post here to let me know if the coin is worth going for or not. Thanks in advance.
I doubt Filecoin is going to reach a new ATH, especially when demand for decentralized cloud storage is at its lowest. Most people prefer to use centralized alternatives such as Google Drive, Amazon Glacier, and Dropbox. Why bother getting into something that has a steep learning curve? Not to mention, FIL's market prices are widely unstable. Just like any other altcoin being traded on the market today. Tech-wise, Filecoin could've been a strong competitor of Sia (another decentralized cloud storage platform). You should do your own research to determine what's best for your money in the long run.
The crypto/Blockchain industry is getting more exposure with the approval of spot ETFs lately, so maybe there's hope for decentralized cloud storage platforms after all? With increased mainstream adoption, Filecoin might survive for generations. No one can predict the future, so lets hope for the best. Just my opinion
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