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https://icostats.com/roi-since-ico https://icostats.com/roi-since-ico This is why people are putting as much money as they can. The total crypto market cap is

https://icostats.com/roi-since-ico https://icostats.com/roi-since-ico This is why people are putting as much money as they can. The total crypto market cap is 160B, which is basically nothing. There are now future Apple, Google and Microsoft stocks in crypto traded for pennies. In the investor groups I am in totally anonymous strangers are pooling multiple hundreds of thousands of dollars for ICO funds, all based on trust. The idea is to send as much money as possible as a single transaction with insanely high transaction fees to get ahead of everyone else before the hard cap is reached. If you have some amount of money you don't mind losing just buy some BTC, ETH, LTC, NEO, GAS, OMG, PAY, XMR, BAT, LSK, ARK and forget about them for a few years. November will be a good time to buy in because the uncertainty about the BTC hard fork will make people exit to fiat. Thank me later. As for Filecoin - their ICO cap is unreasonable, this is too much money, as soon as their tokens hit the markets the price will drop to nothing.

bitcoinmoney 9y ago
Honest question: So the tokens would be used to operate on the "filecoin blockchain" as a fee to store files. A.) Why would I be interested in buying that if I don't want to store a file in a decentralized system. B.) Why would I want to buy it if it will cost 1000$/coin to operate in their blockhain? Is this just purely speculation?
- tylersmith 9y ago
  The huge valuation is almost surely just speculation. I believe it has value in many uses cases but as you point out with point "A" not most use cases. For "B", the coins are highly divisible and the costs of usage will be driven the market. You probably won't need $1k to use the network, the same way you don't need ~$4500 to use Bitcoin. We're building OpenBazaar on top of IPFS to distribute user's stores. But that relies on people visiting and seeding each others stores. With Filecoin, vendors will be able to pay other users to seed with reliability. Disclosure: We work closely with Protocol Labs but I do not own any Filecoin and don't plan to until it can used for applications like ours.
bearjaws 9y ago
"Buy all the coins I own so I can make more money when I sell in November"
CloudYeller 9y ago
I bet returns were similar in 1998-99 from dotcom IPOs. Guess it's a game of getting in early and getting out while you're ahead.

bitcoinmoney 9y ago

Honest question: So the tokens would be used to operate on the "filecoin blockchain" as a fee to store files. A.) Why would I be interested in buying that if I don't want to store a file in a decentralized system. B.) Why would I want to buy it if it will cost 1000$/coin to operate in their blockhain? Is this just purely speculation?

tylersmith 9y ago
The huge valuation is almost surely just speculation. I believe it has value in many uses cases but as you point out with point "A" not most use cases. For "B", the coins are highly divisible and the costs of usage will be driven the market. You probably won't need $1k to use the network, the same way you don't need ~$4500 to use Bitcoin. We're building OpenBazaar on top of IPFS to distribute user's stores. But that relies on people visiting and seeding each others stores. With Filecoin, vendors will be able to pay other users to seed with reliability. Disclosure: We work closely with Protocol Labs but I do not own any Filecoin and don't plan to until it can used for applications like ours.

bearjaws 9y ago

"Buy all the coins I own so I can make more money when I sell in November"

CloudYeller 9y ago

I bet returns were similar in 1998-99 from dotcom IPOs. Guess it's a game of getting in early and getting out while you're ahead.