AMAZING! Filecoin to Overtake Bitcoin as #1 Cryptocurrency by 2021

get ready to fill your bags with phil and get ready for a filing of gains today we discuss the biggest ico in the history of crypto the heavily anticipated platform beset with delays has just launched and for those who got into file coin congratulations for the 118 search so strap in your seat belts this is going to be a wild roller coaster let's get it welcome to bit boy crypto my name is ben every day i show you how to make money in cryptocurrency if you like money hit that subscribe button and join my telegram group so you can keep up with me in the bid squad in this video we're going to be discussing file coin now it was revered as the biggest crypto project three years ago and has finally launched its platform while simultaneously launching its crypto rocket ship on several exchanges these include kraken coinbase finance huobi and gemini tyler winklevoss who invested heavily into file coin tweeted out the listing valvecoin took its investors on one of the wildest roller coaster rides we've seen thus far in crypto which is saying a lot the coin surged as high as 200 on some exchanges on its first day of trading before settling around 40 bucks on friday evening coindesk even reports that just within the first four hours filecoin and filecoin futures contracts traded between prices of thirty seven dollars and one hundred dollars according to price data from tradingview the original filecoin offering in july 2017 sold tokens to investors in a range of one dollar to five dollar with six month to three year vesting schedules and yielded a raise of 205 million dollars to build a new type of digital storage network according to data from massari this means at current prices early investors have earned between 700 and 3900 percent over the last three years filecoin is potentially if not the most anticipated mainnet launch of the year a year that has been plagued literally with bad news at every turn now i'm not going to say the c word and get demonetized you aren't tricking me youtube not today satan but for crypto holders it hasn't been so bad we've had some massive opportunities to make gains i don't know about you but 2020 has been a great year for my crypto portfolio filecoin is no different but man oh man do i feel bad for those that bought at 75 bucks did you puke on the way down with that massive volatility i know i would have in fact multi-coin capital managing partner kyle simani said the early file coin trading was one of the most memorable market dislocations in the history of crypto translation all that trading was nothing more than speculation without reason thus is crypto perhaps though there was a reason falcon is seeking to take on amazon web services or aws and google cloud two centralized cloud-based solutions used by website providers now aws not to be confused with a w that makes the greatest diet root beer known to man the cloud computing business though is projected to reach a market cap of 761 billion dollars by 2027.

Forbes also reported that a bessemer fincher partners report found that out of 42 public cloud companies indexed it could pass a total market cap of 500 billion dollars by 2020 that's this year another estimate states the global cloud computing market size is expected to grow from 371 billion in 2020 to 832 billion by 2025 at a compound annual growth rate of 17.5 percent during the forecast period so it's really insane to think that foulcoin would surge to a 500 plus million dollar market cap the time is recording falcoin's sitting around 700 million market cap with a fully diluted market of 86 billion but at its peak it was actually coming in at a 200 billion dollar overall diluted market cap which actually would make file coin larger than bitcoin so let's look further at its tokenomics to examine if filecoin is overvalued due to hype or if all the hype is justified i'll give you the facts and let you decide falcon is a blockchain based file storage platform the network will use tokens and blockchain technology to store data on millions of computers around the world and reward those offering their hard drive space with filecoin anyone can participate as a storage provider monetize their open hard drive space and help store humanity's data this provides an important incentive layer for ipfs the interplanetary file system enhancing the existing web3 storage infrastructure already used by thousands of projects and developers kraken explained falcoin in a tweet on october 13th as a decentralized version of dropbox protocol labs has previously published a paper detailing the economic model planned for filecoin within that paper are a number of key things to note first there will be five stakeholder groups in the following categories trade tokens developers clients miners token holders and ecosystem partners there will also be three distinct file coin markets false storage the retrieval and on exchange token trading currently storage miners are the core service providers on filecoin while there will be other types of mining in the future bobcoin is also adapt platform allowing developers to build on top of it utilizing its technology onedap example is slate a personal storage service that uses filecoin and ipfs textile is another which has evolved into a set of developer tools for managing storage from where it started as a decentralized flicker dapps aren't all being targeted by filecoin though the team of filecoin explained that consensus code fi has added support for the project which will provide a divide bridge to accelerate the adoption of the file sharing network in two ways first the file coin storage market will enable users with hosting needs to find the best storage prices from the most reputable miners second the divi bridge will enable liquid markets for lending and borrowing file coin on ethereum's robust d5 markets to ensure an adequate and liquid supply file coin is available for use on the filecoin network codefy runs on the ethereum network and was launched by consensus codevi provides the tools and services for anyone to build blockchain based financial services on the ethereum network the filecoin device bridge by code5 connects filecoin to the popular ethereum d5 decentralized finance system the bridge will enable the conversion of the fill digital asset to an erc20 token using the wren protocol where's stimpy sorry once on the ethereum network fill holders and miners will have the ability to deposit these tokens as collateral in various d5 platforms the dvi bridge will allow fill holders to access liquidity and other d5 protocols on the ethereum network by introducing the ability for fill holders to lend and borrow their fill via the erc20 bridge the vast pool of liquidity and economic activity and ethereum defy will become available to the filecoin ecosystem ethereum native defy users interested in trading rap filecoin and accelerating the network's development can use the code5 built platform to deposit eth-based assets as collateral borrow wrapped fill and convert it to native fill to store data or engage with the filecoin network now let's dig into the tokenomics filecoin's mainnet went live on block 148 888.

There's a total of about 15.5 million estimated file coins in circulating supply according to coingetco while the max supply is a massive whopping 2 billion that's right that's a number with nine zeros behind it number nine number nine number nine however the real circulating supply including the locked up tokens is estimated to be around 10 million or even less valcoin has some notable supporters including shapeshift ceo eric voorhees filecoin investor who described falcoin as easily one of the most professionally built carefully executed and valuable projects that has merged from the ico era he also said the same thing about the bitboy crypto youtube channel blockstack ceo mooney bali also expressed that he was excited about the foul coin launch shortly describing the file coin journey in a twitter thread sorry i have a hard time taking this series not everyone is happy about file coins rise though tron's justin sun tweeted out that falcoin was an exit scam in a tweet that's been pinned to the top of his twitter profile with 2.1 million followers and about 100 real ones sun mentioned that phil the native token of filecoin was trading at 60 bucks after soaring to as high as 200 before sun says developers dump 1.5 million coins on the market sun is calling on the ussc to investigate filecoin and protocol lab ceo juan benay not to be confused with jonbenet eric voorhees the ceo of shapeshift responded to sun and said that his tweet thread was the level of lameness of craig wright hey he said it not me maybe tron's son is mad that filecoin which has doubled supply is receiving an evaluation of forty dollars a coin and an original white paper while trx of course is stuck in pennies with a circulating supply of 1.6 billion and a total of 100 billion trx coming that may explain sun's behavior if anyone has the audacity to try to do that what do you think about filecoin though are you waiting for a dip to buy some is it overvalued to some believe and do you believe it's all over hyped let me know your thoughts down below in the comments section that's all i got be blessed bit boy out [Music] you

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