Ohhh Filecoin... The billion dollar white paper...
Here comes the big dog...
Filecoin has long been on my list of targets to invest a good portion of my holdings in.
Why? Honestly, because the team behind it is incredible. Naval Ravikant mentioned it long ago and Juan Benett has been the lead developer on it for quite some time. The fundamentals of their storage system along with IPFS working along side of it seem like a no brainer.
But it's too legit for me. Literally, I can't invest because I'm not an accredited investor. This isn't to say I might piggy back on one of my whale friends who's got a million in the bank to prove he's worthy.
This is the first ICO that is going completely by the book, and granted, it's created a flurry of hype and mania. Friends of mine who no little to nothing about blockchain are in love, because they feel it's legitimate. One such friend is Rick Salomon. You may know him as Pamela Anderson's ex or from the Paris video. He's an incredible guy and he's pulling the trigger big on filecoin. I've tried getting him in ICOs like Tezos Eos and qtum in the past. Why does he and other investors like him like Filecoin? Unlike Tezos and Eos, they don't have to download a VPN and pretend they're outside of the US to invest. They can invest the good ol fashion way, with America all eyes to see.
10% of the tokens have already been allocated in a preseed round at a price of either 50 million or 100 million. I've heard different accounts. That said, filecoin is already valued at either 500M or 1 billion and though Juan has been vigorously developed, you could still argue it's a billion dollar white paper.
August 7th will be an exciting day, winners or losers I'm excited to see how this all plans out, and ultimately, let's not forget, this is about building something to change the world. Until then, I'll be sitting happily with my Sia.
Sounds like a great project. Too bad its just for the rich. Projects that's selling to everyone have much better network effects and tend to be more successful even with having to use VPN. The valuation seems too high and I read where their File Coin buddies got in real cheap. This kinda thing is exactly what crypto is cutting out "the fat middle man". It going to turn out like BATS where only an elite few bought and hardly anyone supports nor talks about now since well no one was able to get in but the rich.
No different than any corporation that sells stocks privately before an IPO. Crypto ICOs at least give the little guy a chance to get in.
Very unfortunate about BAT. I would guess that if they had known it would have sold out with just a few whales that quick, they would have done something different. I love BAT's idea and think if they can create a network, (sorta shot themselves in the foot with their ICO) interesting things could happen. Brendan Eich gave the world Java Script, he seems to feel like it is the backbone behind the monopolized ad industry and wants to redeem himself. Brave is pretty awesome, you can go on Youtube with absolutely no ads! The tough part will be the transition, but part of me feels like people are getting fed up with the current ad situation. I'm definitely going to look more in to BAT because I think it's a real interesting concept that's a solid win or fail.
Great post
Thanks David!
Sia, eh? What are your thoughts on Maidsafe?
NEO all the way!
I don't know too much about the in-depth details of the differences between maidsafe, storj, sia, and filecoin, but Sia is the least hyped and my developer friend tells me it's the most solid. I love projects that aren't hyped, especially in terms of investing. That said, maidsafe seems to have the most ambitious plan, so if what they're doing works, it could be a real winner. Storj is hyped. File coin super hyped!
This project goes against all fundamental laws of Crypto. Supporting this thing is kind of like opening the door to all the corporate/government evil that we are trying to get rid of in the first place. Crypto is a tool for modern humans to finally get rid of all the oppression imposed on us by the elite. All the smart people in Crypto are staying away from this, because they know how dangerous and evil this is.
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