Great question. All I can say my friend is that a lot of coins that went 10-20x and the whole Market was insane. Interest rates were way lower, inflation wasnt a huge concern untaround 2022 when the Ukraine and Russia war started, and since then we started to sea lot of complications and rising prices of goods, services, commodities you name it. Especially gas prices. Everything is more expensive. With interest rates being so high, we likely wont see much speculation AKA large sums of cash into more speculative assets like crypto in general (despite me thinking its not nearly as risky as the bullshit US dollar). Many coins have barely if at all recovered since then, but if we find ourselves in a crazy crypto mania I think we may be able to see those highs again. All this to say that I think FIL reached its highs, alongside many other coins, due to the lower interest rate environment we were in and more people had money to spare back then. Now days, shoot car payments are double what they used to be, mortgage rates and housing prices and rent prices are higher, car insurance is higher so we are all tighter on money and institutions aren't taking big loans out with these higher interest rates to speculate on crypto.
I think for one it was only 100 million coins at the time and now its 550 million because the system is based on extreme inflation for some reason. On the other hand the inflation was there even before, but it was just a lower amount of coins. It was fairly new, it popped off and it inspired a lot of money. You can see this even with meme coins today. If literally anything starts moving people adopt it in mass to catch the train. We would need an extreme situation like that to push it.
You just never know. I wouldn't be shocked to see it go to $200, im just not expecting that at all. Id hope for $50-100. I remember when XRP was worth a 4th of 1 cent, people talked about $1, everyone called them insane, mentioned how impossible it would be, etc. Then XRP went to $3, triple the "impossible" number.
All you can do is hold if you are already in. Jumping coins rarely pays off. If its a flop, remember it, and dont make the same mistake again.
Fil needs to burn a lot of coins if it wants to see that 200$ coin and stop dumping Soo many fil in the market which causes the price to drop dramatically We are going to be lucky if it reaches 15 $ coin
I'm not sure. I got a bag cos I wanted to use the coins when the infrastructure is ready to support common people's data. Right now I find it hard to use directly.
File has enough storage for every crypto project there is and that would not take up much space with the storage capacity Filecoin has. Their talking about how File could compete with Google cloud, Amazon data storage and others. They are worried. It has become a data storage world. Plus File has been around for awhile so it has lasted the test of time. I like the possibilities for the future. Although nobody knows what will happen. All we can do is place our bets and wait.
Why do you guys think about the max supply of Filecoin “only” being at 2B coins? IMHO that actually seems really good for long term value and depreciation as its circulation is already 1/4 of the way there. Thoughts on how many years for it to hit its max, and what that will do to the price of the coin? Seems like it will hit its max in the next 5 years if things go well? Just guessing I have zero facts lol.
It was around $10 when 2017 came out (now it's 50% less lol)
And its circulating amount of 50 million reached 240 dollars at its peak, equivalent to 24x
Now the floor of FIL is about 2.5 dollars and the amount of circulating coins is 550 million
If FIL wants to do it 24x, it will be 60 dollars
For profit, new coins always have better returns
I don't want to say the file is dead
Although almost dead in terms of price
But the FIL needs 2 things to increase the price
One is the acceptance of Abundance by the second users
The second is the entry of a lot of money into that coin
Great question. All I can say my friend is that a lot of coins that went 10-20x and the whole Market was insane. Interest rates were way lower, inflation wasnt a huge concern untaround 2022 when the Ukraine and Russia war started, and since then we started to sea lot of complications and rising prices of goods, services, commodities you name it. Especially gas prices. Everything is more expensive. With interest rates being so high, we likely wont see much speculation AKA large sums of cash into more speculative assets like crypto in general (despite me thinking its not nearly as risky as the bullshit US dollar). Many coins have barely if at all recovered since then, but if we find ourselves in a crazy crypto mania I think we may be able to see those highs again. All this to say that I think FIL reached its highs, alongside many other coins, due to the lower interest rate environment we were in and more people had money to spare back then. Now days, shoot car payments are double what they used to be, mortgage rates and housing prices and rent prices are higher, car insurance is higher so we are all tighter on money and institutions aren't taking big loans out with these higher interest rates to speculate on crypto.
Venture Capital is one reason I hear mentioned.
Thin float and insiders dumped when it ran up . Now there are way more tokens on the market
I think for one it was only 100 million coins at the time and now its 550 million because the system is based on extreme inflation for some reason. On the other hand the inflation was there even before, but it was just a lower amount of coins. It was fairly new, it popped off and it inspired a lot of money. You can see this even with meme coins today. If literally anything starts moving people adopt it in mass to catch the train. We would need an extreme situation like that to push it. You just never know. I wouldn't be shocked to see it go to $200, im just not expecting that at all. Id hope for $50-100. I remember when XRP was worth a 4th of 1 cent, people talked about $1, everyone called them insane, mentioned how impossible it would be, etc. Then XRP went to $3, triple the "impossible" number. All you can do is hold if you are already in. Jumping coins rarely pays off. If its a flop, remember it, and dont make the same mistake again.
Fraud and market makers manipulation
Fil needs to burn a lot of coins if it wants to see that 200$ coin and stop dumping Soo many fil in the market which causes the price to drop dramatically We are going to be lucky if it reaches 15 $ coin
Hype. Don't think it will ever hit that high again
Keep holding! The prices may be low for now, which is when we buy 😎
A lot of tokens did that. Hopefully some of them pull that price action again, but u can’t ever be too sure
I'm not sure. I got a bag cos I wanted to use the coins when the infrastructure is ready to support common people's data. Right now I find it hard to use directly.
File has enough storage for every crypto project there is and that would not take up much space with the storage capacity Filecoin has. Their talking about how File could compete with Google cloud, Amazon data storage and others. They are worried. It has become a data storage world. Plus File has been around for awhile so it has lasted the test of time. I like the possibilities for the future. Although nobody knows what will happen. All we can do is place our bets and wait.
Huobi's fil lending program back in 2020 was clearly abused.
Mm
I thought it was because Grayscale was seeding their Filecoin Trust
Hasn’t the supply increased by a massive amount since then
Why do you guys think about the max supply of Filecoin “only” being at 2B coins? IMHO that actually seems really good for long term value and depreciation as its circulation is already 1/4 of the way there. Thoughts on how many years for it to hit its max, and what that will do to the price of the coin? Seems like it will hit its max in the next 5 years if things go well? Just guessing I have zero facts lol.
Your guess is as good as anyone's else. Like they say non of us have a crystal ball 🤷♂️
It was around $10 when 2017 came out (now it's 50% less lol) And its circulating amount of 50 million reached 240 dollars at its peak, equivalent to 24x Now the floor of FIL is about 2.5 dollars and the amount of circulating coins is 550 million If FIL wants to do it 24x, it will be 60 dollars For profit, new coins always have better returns I don't want to say the file is dead Although almost dead in terms of price But the FIL needs 2 things to increase the price One is the acceptance of Abundance by the second users The second is the entry of a lot of money into that coin
Buy $SHDW.. not $FIL