Has IPFS/FIL started to produce coins? A certain node produces more than 50,000 FIL coins a day?

The most popular blockchain project in 2019 - Filecoin. Filecoin is both a blockchain project, a protocol, and a network.

On December 12, 2019, the Filecoin testnet was launched. Various nodes actively participated and the competition in the testnet was fierce.

On January 14, 2020, the official testnet was restarted. Major mining nodes increased the intensity of network testing to cope with the Filecoin mainnet launched in March-April 2020.

Since the reset on January 14, many nodes have been on the list, and mining node t01201 has temporarily occupied the top spot in effective storage computing power. But the most noteworthy thing is that Filecoin test network dark horse node t01346 came from behind and competed with t01201 node for the top spot in storage power within 24 hours with its amazing storage capacity. At the same time, this node is even better in block explosion and has been steadily at the top of the block explosion list.

As of press time, t01346 has obtained more than 51,000 FIL tokens in just over a day.

According to official statements, the second phase of the testnet will issue rewards based on miners’ wallet balances or total computing power. Then these 51,000 FIL tokens can be said to be the first batch of FIL coins!

Now that FIL coins have appeared, what is the actual return on investment of one FIL?

Filecoin investment includes mining and buying coins. Filecoin's 1CO has ended. Even if it has not ended, the conditions for participating in 1CO are very harsh. The trading of FIL coins in the secondary market is risky. FIL6, FIL12, FIL36, etc. have lock-up periods, and the time to cash out is much longer. Filecoin mining is different. It is currently the most reliable and profitable way.

Filecoin mining is the best way to make profits. The high returns that Filecoin brings to miners are related to the scarcity of Filecoin.

The scarcity of Fielcoin will cause Filecoin to surge after it goes online.

Why is Filecoin said to be scarce?

First of all, the Filecoin system is inherently complex. It introduces storage miners, retrieval miners, regulatory miners, and mining miners on top of the concept of blockchain mining. Compared with Bitcoin mining, Filecoin mining is more complicated and the difficulty of obtaining FIL increases.

Secondly, Filecoin has a pledge and penalty mechanism, and the system's security and economic mechanism interact with each other.

(PS: There are two types of pledges in the Filecoin network, commitment pledge and storage pledge. Commitment pledge is the pledge of available space promised by miners to the network when mining. Commitment pledge has three functions in the Filecoin network: it punishes miners when they fail, locks a part of it in the game ecology to promote the improvement of the network, and when an attack occurs, it is used as the cost of the attack to reward miners who prevent the attack. Storage pledge is the pledge provided by miners when storing user data to ensure that user data is stored within the specified time.)

The dual pledge mechanism in the Filecoin network encourages miners to provide better services in order to gain benefits. The FIL coins punished in the Filecoin network will be used as rewards to reporters and executors to promote the healthy development of the network. Of course, there is another possibility that this part of the FIL coins will be destroyed, which reduces the total amount of FIL and greatly increases the scarcity of FIL.

Finally, the FIL distribution and release rules are that miners are allocated 70% of the shares, which decreases every week and is halved every 6 years. This is modeled after the law of radioactive decay in nature and is in line with economic principles. The amount of Filecoin released is less than the market circulation demand, and the price is affected by supply and demand. The Filecoin price will continue to rise sharply across the board.

So, will the market demand for Filecoin really be greater than the amount released in the future?

From the perspective of IPFS projects and enterprises, IPFS has added more than 5 billion files, involving multiple industries, and there are also many blockchain companies using this technology. Once Filecoin goes online, the market demand it faces will be the value applications brought by the IPFS network.

From the perspective of the secondary market, the FIL futures price closed at 6.29USD last week, and the secondary market is facing a rush to buy. According to statistics from Twitter, Facebook and other sources, the number of people following Filecoin continues to rise. With the launch of the Filecoin mainnet, many coin hoarders and speculators have emerged, and FIL in the secondary market is extremely scarce.

From the perspective of mining, for storage miners, they must prepare a certain amount of FIL as collateral before storing data. There will be demand as soon as Filecoin goes online.

The complexity of the Filecoin network, the dual pledge mechanism, and the release and distribution rules lead to the scarcity of Filecoin. When the market supply is less than the demand, the price will be affected and will continue to rise across the board!

In March-April 2020, the Filecoin mainnet will be officially launched, and new investors will continue to pour into the market, making Filecoin more and more popular.

After the launch, Filecoin is bound to soar, and those who invest before the end of January 2020 can obtain the first mining income (there are factors such as equipment configuration and mining pool deployment, and the configuration cycle is 2-3 months). The first mining income can be estimated to increase by about 20 times to 60 times, or even more. We can have room for imagination, perhaps a thousand times!