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$FIL Elon Musk's evaluation of the Filecoin (FIL) project.
Storage is Value: Musk believes that the core concept of Filecoin—transforming idle hard drive space into value—aligns with his advocacy for sustainable energy and efficient resource utilization, representing an innovative distributed storage solution.
Technical Strength: He highly praised the technical architecture of the Filecoin project, especially the decentralized storage model based on IPFS (InterPlanetary File System), which he lauded as 'possibly a revolution in internet infrastructure.'
Network Stability and Data Security: As a relatively new project, Filecoin's network stability and data security still need to withstand the dual tests of time and market.
Ecosystem Development: Musk noted that the Filecoin ecosystem is in a rapid development stage and looks forward to more application scenarios being realized, empowering various industries and achieving large-scale commercial applications.
Role in the Web 3.0 Era: Musk is optimistic about Filecoin playing an important role in the upcoming Web 3.0 era, helping to build a more open, fair, and efficient internet environment.
Regulatory Oversight and Market Volatility: In the face of the global cryptocurrency regulatory landscape and market volatility, Musk reminded the Filecoin community to be well-prepared; compliance operations and risk management capabilities will be key for Filecoin to go mainstream and gain widespread trust.
Cooperation and Integration: Musk revealed that his company does not rule out the possibility of potential cooperation with Filecoin, especially in areas such as SpaceX's satellite internet service Starlink and Tesla's in-car entertainment system, where Filecoin's distributed storage technology is expected to find its application.
Storage is Value: Musk believes that the core concept of Filecoin—transforming idle hard drive space into value—aligns with his advocacy for sustainable energy and efficient resource utilization, representing an innovative distributed storage solution.
Technical Strength: He highly praised the technical architecture of the Filecoin project, especially the decentralized storage model based on IPFS (InterPlanetary File System), which he lauded as 'possibly a revolution in internet infrastructure.'
Network Stability and Data Security: As a relatively new project, Filecoin's network stability and data security still need to withstand the dual tests of time and market.
Ecosystem Development: Musk noted that the Filecoin ecosystem is in a rapid development stage and looks forward to more application scenarios being realized, empowering various industries and achieving large-scale commercial applications.
Role in the Web 3.0 Era: Musk is optimistic about Filecoin playing an important role in the upcoming Web 3.0 era, helping to build a more open, fair, and efficient internet environment.
Regulatory Oversight and Market Volatility: In the face of the global cryptocurrency regulatory landscape and market volatility, Musk reminded the Filecoin community to be well-prepared; compliance operations and risk management capabilities will be key for Filecoin to go mainstream and gain widespread trust.
Cooperation and Integration: Musk revealed that his company does not rule out the possibility of potential cooperation with Filecoin, especially in areas such as SpaceX's satellite internet service Starlink and Tesla's in-car entertainment system, where Filecoin's distributed storage technology is expected to find its application.
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The Filecoin Virtual Machine (FVM) has become a hot topic in the blockchain space, primarily based on several reasons.
On-chain programmability and smart contracts:
FVM has realized on-chain programmability and smart contracts on the Filecoin network for the first time, marking the transition of Filecoin from a singular storage network to a broader Web3 application platform. The introduction of smart contracts allows developers to utilize Filecoin's storage primitives to create decentralized applications (dApps), unlocking valuable workflows, including permanent storage, data access control, and data computation.
Driving DeFi growth:
FVM has driven rapid growth in the Filecoin DeFi ecosystem, allowing third parties to build staking and lending protocols on top of Filecoin network's storage providers. This not only increases the use cases for FIL tokens but also promotes token locking and burning, impacting the circulating supply of tokens.
FVM has realized on-chain programmability and smart contracts on the Filecoin network for the first time, marking the transition of Filecoin from a singular storage network to a broader Web3 application platform. The introduction of smart contracts allows developers to utilize Filecoin's storage primitives to create decentralized applications (dApps), unlocking valuable workflows, including permanent storage, data access control, and data computation.
Driving DeFi growth:
FVM has driven rapid growth in the Filecoin DeFi ecosystem, allowing third parties to build staking and lending protocols on top of Filecoin network's storage providers. This not only increases the use cases for FIL tokens but also promotes token locking and burning, impacting the circulating supply of tokens.
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$BTC Use Bitcoin to replace US Treasury bonds to repay US Treasury bonds. This statement is only theoretical and not a practical solution. Let's take a look at the US Treasury bonds. The current US Treasury bonds are about 36 trillion US dollars, and the total amount of Bitcoin is 21 million. According to the current price, the price of one Bitcoin is about 100,000 US dollars. If Bitcoin is used to repay US Treasury bonds, how much does each Bitcoin need to rise? Obviously, it is unrealistic. Let's do a simple calculation. If Bitcoin is used to repay US Treasury bonds, how much does Bitcoin need to rise to: 36 trillion US dollars ÷ 21 million pieces ≈ 1.7143 million US dollars/piece, that is, each Bitcoin needs to rise to 1.7143 million US dollars to use Bitcoin to repay US Treasury bonds, which is obviously unrealistic. Besides, even if the current market value of Bitcoin reaches 36 trillion US dollars, it accounts for nearly 40% of the global GDP. In fact, the global GDP is about 94 trillion US dollars, so it is impossible to use Bitcoin to repay US Treasury bonds. The price of Bitcoin fluctuates greatly, and this fluctuation is mainly affected by market sentiment and policies. The mining cost, holding cost, transaction cost, and market acceptance of Bitcoin also limit the rise of Bitcoin prices. Therefore, using Bitcoin to replace government bonds to repay debts is more of a theoretical discussion, not a practical solution.
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The reasons why some people consider the Filecoin (FIL) project to be a Chinese project may be related to the following factors:
Marketing and community activity: The Filecoin project may have a relatively active community and marketing in China, leading many to mistakenly believe it is a Chinese project.
Investors and partners: During its fundraising process, Filecoin attracted the attention of global investors, including those from China, which may include some Chinese investors or investment institutions. This could lead some to mistakenly believe the project has a more direct connection to China.
Technology and market potential: As a distributed storage solution, Filecoin may be widely discussed and anticipated in China, a market with a huge demand for blockchain technology and distributed storage technology, creating the impression of being a "Chinese project."
Misunderstandings and information dissemination: Due to potential misunderstandings or inaccuracies in the dissemination of information, some people may not have accurately understood the origin and background of the Filecoin project, leading to the misconception that it is a Chinese project.
In fact, the founder of the Filecoin project, Juan Benet, is Mexican, graduated from Stanford University with a degree in computer science, and the project was developed by him through Protocol Labs, which he founded in the United States. The Filecoin project is a global project, with its founders and core team members from all over the world. Therefore, it is inaccurate to categorize the Filecoin project as a Chinese project.
Marketing and community activity: The Filecoin project may have a relatively active community and marketing in China, leading many to mistakenly believe it is a Chinese project.
Investors and partners: During its fundraising process, Filecoin attracted the attention of global investors, including those from China, which may include some Chinese investors or investment institutions. This could lead some to mistakenly believe the project has a more direct connection to China.
Technology and market potential: As a distributed storage solution, Filecoin may be widely discussed and anticipated in China, a market with a huge demand for blockchain technology and distributed storage technology, creating the impression of being a "Chinese project."
Misunderstandings and information dissemination: Due to potential misunderstandings or inaccuracies in the dissemination of information, some people may not have accurately understood the origin and background of the Filecoin project, leading to the misconception that it is a Chinese project.
In fact, the founder of the Filecoin project, Juan Benet, is Mexican, graduated from Stanford University with a degree in computer science, and the project was developed by him through Protocol Labs, which he founded in the United States. The Filecoin project is a global project, with its founders and core team members from all over the world. Therefore, it is inaccurate to categorize the Filecoin project as a Chinese project.
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$FIL They finished, started the second round of increases, [grin] the sixth week line has started
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$FIL Don't even think about me giving up my chips, haha. Allowing you to rise and allowing you to fall is also for a better rise, okay.
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$LEVER $LEVER this idiot dealer has started pulling, celebrating, prepare to charge 0.01 USD for a week
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Brothers, the fil has started, the carnival has begun, directly 15 dollars within a week
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FIL is ready to start pulling to 15 dollars, it will take 5 days starting today, Sunday.
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Correct
Insights on C2C Withdrawal Experiences
As a veteran in the crypto space, I need to withdraw 200,000 to 500,000 each year to make a living, so I’m sharing some experiences on withdrawals in the crypto space; let’s get straight to the point:
1. Only choose platforms that offer T+1, such as Binance, because once dirty money is converted to USDT, it will be transferred immediately to avoid prolonged risks. T+1 platforms can deter most dirty money.
2. Choose merchants with a long registration time and high transaction volume, as they have more experience and know how to avoid being monitored by the authorities.
3. Withdrawal time should be during business hours on weekdays. In 2021, I had a withdrawal of 100,000 that was done during trading on a platform at night, and it got frozen the next day, and it still hasn’t been resolved. If it’s dirty money, there’s nothing to be done; just accept the loss.
1. Only choose platforms that offer T+1, such as Binance, because once dirty money is converted to USDT, it will be transferred immediately to avoid prolonged risks. T+1 platforms can deter most dirty money.
2. Choose merchants with a long registration time and high transaction volume, as they have more experience and know how to avoid being monitored by the authorities.
3. Withdrawal time should be during business hours on weekdays. In 2021, I had a withdrawal of 100,000 that was done during trading on a platform at night, and it got frozen the next day, and it still hasn’t been resolved. If it’s dirty money, there’s nothing to be done; just accept the loss.
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$BTC This wave of Bitcoin has a sword inserted on its head, very terrifying, sealing the needle determines the universe, January 2025 is the month of financial destruction in the world,
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It seems that January 2025 will be a terrifying year, Trump is estimated to be eliminated, and Bitcoin will probably crash.
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$LEVER I will accompany you, I will be the dealer at a low point, and I will collect the chips, hahaha
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$LEVER This project party is really patient, the whole network is several times better, if you don't pull a hundred times, I'll die with you.
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This market is a mess, it's exhausting, does anyone else feel the same way?
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