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If the market trades Filecoins too high, won't it become a cost burden to those wanting the service? And so then I will leave Filecoin, and there won't much da
by johnmarcus 7y ago
If the market trades Filecoins too high, won't it become a cost burden to those wanting the service? And so then I will leave Filecoin, and there won't much data to store. Until you fix price Filecoin, the technical market will be sullied by the financial markets.
As an example, if my ec2 prices went up in line with Amazon stock, I would be paying 5x the cost compared to z few years ago - which means I would have left to digital ocean, and AWS would lack customers. Lagged hype would falsely bolster the stock price.
It's why this decentralized bullshit doesn't work - in the end the greed of it's founders/majority holders destroy it.
- whyrusleeping 7y agoIts not like 1 filecoin == 1 gigabyte of storage. Its a market, people pay what they want to pay. I think you have an incorrect picture of the system in your head and havent actually gone and done the research needed to back up your angry sounding claims.
- johnmarcus 7y agoThey pay in Filecoin, which is a fluctuating asset based on financial market conditions which have nothing to do with actual cost of services. Do your research, else your just anther naive investor, or worse, con man. https://tokeneconomy.co/the-analysis-filecoin-doesnt-want-you-to-read-e60d5243f17c https://tokeneconomy.co/the-analysis-filecoin-doesnt-want-yo...
- capnwally14 7y agoLol, whyrusleeping is one of the core contributors to Filecoin. Also if the price externally is changing, you could just... reduce the amount of FIL you pay per GB. So if in t=0, the price of FIL is $1, and I choose to pay 1 FIL for 1 GB, and in t=1 the price of FIL goes to $2, I could just pay 0.5 FIL. Sounds like a miner (whose cost basis denominated in fiat) would be happy to accept either deal if its net profitable.