Bitcoin miner: IPFS is a joke!

Filecoin is on fire! It’s extremely popular!

As the launch date of Filecoin mainnet approaches , the entire industry chain, from mining pools, mining machine manufacturers to technical service providers, is raising prices. The big guys are working overtime to preach, and the myth that Filecoin mining can make you rich is also spreading among the people.

Some people are excited about getting part of the private placement quota, some are betting on Fil futures, and many people even have a feeling that if they miss out on Filecoin mining, they will miss the opportunity to get rich.

"In the last five days, the price of the company's servers will increase, this is a rare opportunity..." A netizen hawked his business in the community. But Bitcoin miners poured cold water on him mercilessly, warning everyone to wake up .

Is Filecoin mining a greater fool’s game?

“Filecoin mining is a trick used by the fools who have already entered the field to trick new fools into taking over.” Dong Jieli (pseudonym), a veteran miner who entered the Bitcoin mining industry in 2010, said this without hesitation.

As an old-generation internet cafe owner, Dong Jie Li reaped the benefits of Bitcoin mining early on . The idle computers in the internet cafe are a tool for him to create wealth day and night. In 2019, he also created a "mythical story" of earning tens of millions a month (for details, you can read "Earning tens of millions a month, "crazy" miners are about to fly!").

When the early dividends were exhausted, especially when big capital entered the market, Dong Jie Li decisively withdrew. In his words, "Investment should be fast, accurate and ruthless."

However, Dong Jie Li is not optimistic about the investment in Filecoin mining. He told Lieyun Finance, "IPFS is the biggest scam in the blockchain industry and is simply a joke. The popularity is just to cater to the needs of many leeks who want to find new explosive growth points." He also does not believe in the long-term prospects of IPFS.

Dong Jieli gave his reasons from two aspects. He pointed out, " From the perspective of storage, some content is already within the scope of regulation and is not suitable for storage. Going against the law is courting death, not to mention making money. Wang Xin of Kuaibo is a lesson for us."

"In terms of hardware, IPFS machines are not difficult to supply, and all accessories can be freely purchased on the market and are easy to assemble. Relatively speaking, configuration is a small matter. What is important is the mining environment. Bandwidth, disconnection, etc. are all problems." Dong Jieli said, " Filecoin mining has too high requirements for hardware configuration and hardware environment, which basically blocks retail miners from entering the market. This has become a game of idiots for big miners. "

“I’m troubled by the 100,000 yuan mining service.”

Dong Jieli's views are recognized to a certain extent by other Bitcoin miners.

Miner Wang Jinsan (pseudonym) told Lieyun Finance that the threshold for Filecoin mining is indeed not low, and storage miners need to pledge. A high threshold means high costs, and the corresponding cost does not necessarily bring customers a better user experience than traditional networks. From the perspective of implementation, hype is definitely greater than practicality in the early stages .

"When others are crazy, I am afraid. When others are afraid, I am crazy." When Dong Jieli and Wang Jinsan were still "afraid", some people had indeed become "crazy".

“My classmate didn’t even ask me and directly bought a mining service worth 100,000 yuan without even owning a machine. He was told that he would only get coins every day after the mainnet was released. I feel a headache for him.” A netizen in the community regretted his classmate’s “madness”.

Some people couldn't help but offer suggestions, saying, "Don't worry about him. If he chooses the top mining company in the industry, that is, cloud computing power, at least he can have coins in his hands."

But it was soon opposed by group members.

“ Making money will definitely not be left to retail investors , but we must attract retail investors to participate at the beginning. If retail investors do not participate, who will be the ones to profit from?”

"The sickles are ready. Wouldn't it be nice to save the money and buy some buns?"

…

The group members believe that Filecoin mining is not a business suitable for everyone to invest in, at least at the moment. The discussion on this topic ended with "I also think IPFS is a joke."

However, in the eyes of believers in Filecoin mining, these people are simply "completely wrong"!

“IPFS has the strength and reason to rank third!”

Greater Fool? Scam?

“There are indeed too many people using IPFS to commit fraud in China. But there is a saying that goes, ‘Scammers understand trends better than you!’ This shows that IPFS has a bright future.”

Hoax? Joke?

“It’s normal for some people to think it’s a scam or a joke. There are still many people who are not optimistic about Bitcoin, and only a small number of people are playing with Bitcoin.”

Believers are recharging their faith in IPFS and have given their reasons:

"At present, there are three directions that are more promising. First, the Bitcoin family, which is mainly Bitcoin; second, the public chain system, which is mainly Ethereum; third, the distributed storage field, especially Filecoin. After the mainnet is launched, Filecoin is likely to rank third, that is, Bitcoin first, Ethereum second, and IPFS third. Judging from its prospects and positioning, it has every strength and reason to rank third."

As Jiang Zhuoer once said on his social media: " I recognize the freedom of information brought by distributed storage , but I emphasize that we should invest in a track rather than bet on a project . Although IPFS is currently the most famous, it may not be successful in the end. IPFS is still a long way from being practical. In addition, be careful of those who package some broken NAS (network attached storage) as 'IPFS mining machines' and then speculate on high prices to cut leeks. "

Investing is a technical job. Everyone wants to make a fortune from investing, but investments that you don’t understand may lead to a waste of money.

At this time, the hawking in the community continued, and from time to time there were red envelopes distributed by the group owner to advertisers, as well as group members thanking the boss in various ways.

It seems that everyone is looking forward to the launch day together in this unique way, or is welcoming the advanced carnival by "singing triumphantly".

We don’t know how many onlookers will join the game during this period. But the saying “others laugh at me for being too crazy, I laugh at others for not seeing through” seems to describe everyone’s state of mind at this time.

Do you think "Filecoin mining is a joke" or "Filecoin mining is an opportunity to get rich"? Feel free to leave us a message!

Disclaimer: Lieyun Finance is a blockchain media platform under Lieyun Group. Original content may not be reproduced without authorization. Some views are from the Internet. This article is only for information transmission, does not represent the position of Lieyun Finance, and does not constitute investment advice. If you enter the market based on this, you will bear your own risks.