Why is it unreliable to buy a Filecoin mining machine to “grab the first mine”?

Source: Bad Review

Original title: "I've only heard that you need to charge money for online storage, but have you ever seen an online storage that gives you money and makes you rich?"

Author: Bad Review

I calculated that it has been a while since I last talked to you about the latest news in the cryptocurrency world.

Indeed, ever since the cryptocurrency circle’s “guest of leeks” Justin Sun was blocked last year after cutting leeks all over the circle, there has been no big news in the cryptocurrency circle, which is still a niche group in China.

However, recently, several friends who I haven’t contacted for a long time came to ask me, "Can IPFS be mined? I see that everyone who has mined it online has made money."

Mining IPFS? After hearing this term, the bad reviewer’s face was full of question marks.

Because if I remember correctly, IPFS seems to be a "network transmission protocol" used for "persistent and distributed storage and sharing of files" , so how is it related to the cryptocurrency circle?

After a little understanding, I found that the routines in the cryptocurrency circle are really interesting.

I guess you guys are all confused now, but don’t worry, please allow me to explain what IPFS is in plain language:

Given the fact that USB flash drives disappear once you get them, and the increasing speed of Internet, we are becoming more and more accustomed to "uploading" files when sharing them with others.

Smaller files are usually sent via WeChat; as for larger files, you need to use online disk sharing tools such as Baidu Netdisk and CowTransfer.

However, I believe that most of the friends who use online storage curse while using it.

For those who upload files, many free versions of online storage have a limit that the size of a single file cannot exceed XX GB. Sometimes, uploading a few GB will fill up the online storage.

Even if the upload is successful, the sharing link may be swallowed up one day, and you have to renew it from time to time.

Moreover, for those who download, if they don’t pay 298 yuan for a super membership on a commonly used network disk, they will never be able to get the fastest download speed.

Although rational people understand that these shortcomings are debuffs artificially added by some commercial cloud storage services, there is still no problem with products like cloud storage services themselves.

But at this time, a young man from Stanford jumped out and said:

"Network disk is dead, my IPFS is here!"

The young man's name is Juan Bennett. He believes that there is no need for such a trick as commercial network disk. Internet users can just borrow each other's "idle" hard disks and bandwidth to transfer files.

The thick hair makes the negative reviewer a little jealous▼

According to Juan's idea, its IPFS (Planetary File System) can form a huge storage network with the idle hard disks of netizens, and then do some things:

Suppose user A wants to share a file with B, and C and D happen to have space on their hard drives, then A can encrypt the file in advance and send a copy to C and D.

In this way, when little B downloads the file, he can retrieve the data from the hard drives of A, C, and D at the same time.

Or if Xiao A is particularly worried about losing important data on his hard drive, he can first contact B, C, and D, and regularly package, cut, encrypt and send the important data to the other party for safekeeping.

In this way, when little A's computer crashes one day, he can just reinstall the IPFS client and automatically retrieve important data from B, C, and D.

Of course, the users B, C, and D here are just empty words mentioned by the bad reviewer - if A wants, he can send the file to dozens, hundreds, thousands, or even all IPFS users.

Maybe by now, some of you have figured out something:

In the logic of commercial network disks, a data center serves thousands of users; but in the logic of IPFS, thousands of users serve you alone.

You are the brightest thing in the entire universe.

Okay, I have finished talking to you about what IPFS is, so what is the point of making money by mining IPFS?

Well... As we mentioned earlier, if Juan's IPFS is to work, everyone needs to actively contribute the extra storage space on their computers.

But in reality, who would be free to donate their hard drive to others?

If I had a 4 TB SSD, wouldn't it be nice to use it all to install games? ? ?

The 1.5 TB solid state drive of the bad reviewer has been filled up with games▼

Even if there are many people willing to contribute resources voluntarily at home, the actual network transmission experience may fluctuate greatly because the priority of home broadband is not as high as commercial broadband.

Moreover, there is a risk of loss of files stored via IPFS : since we are all at home, who wouldn’t allow me to turn off the computer and delete other people’s data to make room for my own data?

So, after IPFS got off to a bad start, Juan quickly gave IPFS a reward mechanism called FileCoin.

To put it bluntly, it is to use money to motivate those wealthy people to contribute their commercial bandwidth and large hard drives:

There are 70 million filecoins in the entire IPFS network. Contributors can get some filecoins as rewards for accepting each file uploaded by others.

Moreover, as the file storage time increases, contributors can continue to receive filecoin rewards provided by the IPFS network.

After receiving the rewarded filecoins, contributors can go directly to the "exchange" in the currency circle to exchange the filecoins for Bitcoin, and then exchange Bitcoin for real money in circulation.

Since Juan announced at the beginning that 70 million filecoins were fixed, it was certain that the later one came, the less filecoins one would get. Therefore, the old friends in the cryptocurrency circle (leeks) who were attracted by the coins began to get restless.

Therefore, in recent times, in addition to being able to see articles such as "Are you still mining Bitcoin? I mine IPFS and make a fortune every day", "The latest IPFS mining machine has arrived, buy it as soon as possible" in some cryptocurrency groups...

You can also see a bunch of old friends buying commercial broadband and hoarding hard drives online...

Alas, IPFS mining, whoever believes in it is a fool!

We all know that to see whether a currency is strong or not, we have to look at what it is backed by.

For example, the Mao Zedong coin that we use most often is backed by the value created by the labor of more than one billion people in our country, so it is very hard.

For example, Bitcoin, the originator of the cryptocurrency world, relies on the endless computing power of network miners. Before the Bitcoin bubble burst, it was still pretty good.

But what does Filecoin rely on? It relies on users who use IPFS to store files.

But apart from a few technology geeks, how many people will use IPFS to store files?

Because of the filecoin strategy mentioned by Juan, the ultimate beneficiaries are still the contributors who help provide storage space, and users seeking file storage will not benefit from it.

Juan even envisioned that users could pay a certain amount of filecoin to contributors in exchange for the corresponding storage space. . .

Well, since I have to pay for it, why should I ignore the mature commercial network disk and instead invest in a "black network disk" whose server is not even in some basement???

If you have the time, wouldn’t it be good for everyone to use CowTransfer for 99 yuan a year?

Therefore, I am afraid that the ultimate purpose of IPFS is to provide a hotbed for transactions for the "teachers" in the hard drive (the official hinted that a plan to use filecoin to buy and sell resources will be released later).

It's so blatant, why would you let him go home for the New Year if it's not banned?

Therefore, no matter how reasonable and excellent the planning of IPFS and Filecoin is, without the most core "user" link, Filecoin can only become a "air coin".

The bad reviewer thinks that the filecoin that Juan has created now is more like a dying struggle of IPFS, which has been released for six years:

Through a "coin issuance" that keeps pace with the times, network miners will happily provide IPFS with servers for storing files.

But when the bubble cleared, it was a mess again.

Original link: https://mp.weixin.qq.com/s/1dLOrqC1y45C6afPq5GJhg