Entertainment at it's peak. The news is by your side.

Filecoin’s diluted marketcap was hundreds of billions yet miners are losing $


Nico Deva Profile picturethread#showTweet” recordsdata-controller=”thread” recordsdata-screenname=”NicoDeva_” recordsdata-tweet=”1317689811046522880″ dir=”auto” id=”tweet_1″>

@Filecoin has transitioned from calibration acquire to mainnet at block 148,888 after a 200M ICO and 3 years of dev.

Inside of 24h of initiate a majority of miners are already on strike and focus on a failed marriage ceremony and forks.

Why? (1/n)


Label is a extremely high retail $40okay (contains web web hosting and repairs ), standard prices min. $20okay, 350TB (2/n) Image

Sealing fade is the bottleneck, you might want to perchance per chance present moderately about a procedure however with 2 computing servers you might want to perchance per chance peaceable simplest seal about 1TB/day to your 336TB of storage, and it will grasp from 210 to 350 days to utilize and mine with the explicit fat procedure. (3/n)

Within the period in-between, it is well-known to stake as collateral for the procedure equipped, this is a guarantee and is slashed if procedure commitment no longer honoured (the aim being to insure that recordsdata isn’t lost). But that’s a chicken and egg pb, as nobody has to begin mining and get . (4/n)

The calibration acquire solved that by being a final test acquire, and included a “procedure fade”, aimed at rewarding early miners who invested in costly hardware for locating out, and generally took the general dangers, with 1.5M disbursed however vested 540 days (5/n)

thread#showTweet” recordsdata-controller=”thread” recordsdata-screenname=”NicoDeva_” recordsdata-tweet=”1317689850355544065″ dir=”auto” id=”tweet_8″>

Present mining returns hovers around 0.25-0.27 FIL/day (filfox.recordsdata/en/ranks/strength)

This mining reward is vested for 180d (as per the SAFT agreement) (8/n)

filfox.recordsdata/en/ranks/strength (12/n)



Terminate, read it all but again. $240M price of hardware, ready at mainnet initiate. No longer including the general one waiting to be build aside in. No longer some market valuation, reliable cash modified fingers, reliable servers. Right here is a conservative estimate.


Miners invested early on in that powerful hardware, however can’t help ramping up ability on legend of they’re forced to lift . At $250B absolutely diluted valuation. (15/n)

Calculations will be off one procedure or the other however definite explain is many miners have stopped adding more ability and drives are idly waiting, as you might want to perchance per chance search the day-to-day strength enhance of 0 for lots of prime miners (16/n) Image

Within the period in-between, whereas the general coins are supposedly vested for sessions starting from 6months minimal to 6y for the team tokens, 1.5M where despatched to Huobi and OkEx, self-discipline satirically raised by Justin Solar. (17/n) Image


The FIL004 Filecoin enchancment proposal targets at changing the vesting for miners from 100% to 75%. You’d get (50/180*75% + 25%)*0.25-0.27 ~= 0.12 FIL/T/d.…

The proposal was once accredited (20/n)

After the update your 50TB-stuffed miner will get you 6$FIL/day, out of which you might want to perchance per chance either lock 5 and help ramping ability and splurge alongside with your 1 FIL/day out of your $20okay hardware, or upright promote the whole lot at the original insensible absolutely diluted market cap. (21/n)

Anyway, appears take care of miners got moderately rekt. Right here is doing the news in China, however nobody’s talking about it within the West. Rekt connoisseurs @bneiluj @RektHQ, however also others take care of @CoinDesk @decryptmedia @MessariCrypto @TheBlock__ might per chance perchance per chance evaluation a minute bit. (22/stop)

• • •

Missing some Tweet on this thread? That you just might want to strive to
force a refresh

Read More

Leave A Reply

Your email address will not be published.