Why is Filecoin, which is popular among Chinese people, not popular overseas? (POC Series 1)

Regarding Filecoin, we will find an interesting phenomenon: the domestic popularity is skyrocketing, but almost no one is interested in it overseas. It can basically be determined that this is a "huge bubble" created by China.

If we search for Filecoin on Baidu, we will find 113,000 pieces of information. If we search for Filecoin on Google, we will find only 18,000 pieces of information. The number of domestic information is more than 6 times that of overseas information. If we search for IPFS, Baidu will find 167,000 pieces of information, while Google will only find 10,600 pieces of information.

Looking at the Twitter of Filecoin official and founder Juan Benet, there are very few responses. The important Twitter post announcing the launch of the test network has only 7 comments, and the number of followers is also seriously suspected of being inflated. CryptoMiso shows that the activity of the technical community is also very low, and the number of Github code submissions in the past 12 months is outside the top 100.

In comparison, Google search for ETH has 12.6 million results, while Baidu search for ETH+Ethereum has only 730,000 results. Searching for EOS, Google has 11.9 million results, while Baidu has only about 310,000 results.

We can draw a conclusion that the popularity of traditional cryptocurrencies overseas is much higher than that in China. Storage coins, IPFS and Filecoin are exceptions, and their popularity in China is much higher than that overseas.

If this isn’t obvious enough, let’s look at the global index of Google searches for Filecoin, where China dominates:

Let’s take a look at WeChat’s attention index on IPFS, which is showing a crazy upward trend.

There are four reasons:

1: The mining circle is pouring in. China has a huge group of miners and mining machine industry. After the Bitcoin halving and Ethereum switching to POS, a new investment target is urgently needed.

It can be seen that some traditional crypto mining practitioners are the most active agitators in joining Filecoin, and no one wants to miss the opportunity to become the next Bitmain or Shenma.

According to the data from the mining website, we can see that the top six miners/mining pools in terms of test network computing power are all from China.

2: The cryptocurrency circle is pouring in. Chinese cryptocurrency circle capital and big Vs are injecting money and encouraging. Distributed, Du Jun (Node Capital) and Bao Erye are the top investors or KOLs in the cryptocurrency circle. They are also the three "Chinese cryptocurrency giants" who strongly support Filecoin.

3: The influx of the trading circle, the close combination of IPFS, Filecoin and China's CX and capital groups, has made this product produce a bizarre out-of-circle effect, and even the phenomenon of aunts selling mining machines has appeared. IPFS mining machine fraud cases are also common. The most famous IPFS mining machine Star Snail took nearly 2 billion yuan and then ran away.

4: Finally, Filecoin is indeed a high-quality project. From the initial financing of more than 200 million US dollars; the endorsement of a strong investment team; the recognition of first-tier exchanges such as Coinbase; the excellent technical background, grand vision and cautious attitude towards the launch, all can prove that this is an excellent project.

But are such excellent projects scarce enough? Not necessarily. For example, it was just one of the 17 projects that Coinbase listed for evaluation last year. Is there a huge bubble in China? Yes, it is. For China's enthusiastic buyers, Filecoin's own excellent conditions may only be the reason for ranking fourth.

In any case, it seems that the entire cryptocurrency capital, mining industry, and retail investors in China, from the mining circle, the currency circle, and the trading circle, seem to be pouring into this track. In the next article, Wu Blockchain will summarize for you which capital is betting on IPFS and Filecoin, and which bigwigs are not optimistic about it, and what are their reasons.

According to the "Risk Warning on Preventing Illegal Fund Raising in the Name of "Virtual Currency" and "Blockchain"" issued by the China Banking and Insurance Regulatory Commission and other five departments, please establish correct investment concepts and enhance risk prevention awareness.