There are hundreds of Bitcoin projects, from the former Bitcoin and Ethereum to the current FIL, Chia, Swarm and then to PHA. Each project enjoys great popularity, and only FIL has survived in China.

Starting with Bitcoin and Ethereum:

As the eldest brother and the second brother in the mining industry, Bitcoin and Ethereum have always been at the leading position of mining. Since the country began to suppress Bitcoin and Ethereum, the position of the two currencies has plummeted, because China is the largest mining base of Bitcoin, Bitcoin has been suppressed by the national policy from 190Eh /S to the current 92.52Eh /S. With the closure, power outage and elimination of Bitcoin mines one by one, the price of Bitcoin has changed from the peak of 420,000 to the current 210,000. The decline of computing power has affected the decline of the price of Bitcoin, and Ethereum has also been affected and gradually cleared out of China.

CHIA and SWARM are two major Skyfall programs:

Chia mining, no mortgage, no lock up, no gas charges, upfront costs are much lower than FIL mining, a series of simplifying operations to make Chia more “people friendly”, but the model of Chia is destined to peak in a very short time, but definitely not for long, and the reality is that it is. The main network was launched in May, and the computing power of the whole network exceeded 30EB in July, which was several times more than that of Filecoin after several years of sediment. However, in the case of such crazy computing power growth, according to the current XCH price and mining performance, it is far from clear that the investment in Chia will be repaid for mining.

Although upfront costs are to earn the money, but because of early man put his hand in the currency are thrown at high prices, subsequent people were dug out of currency is selling the people involved in the subsequent became the front of the people involved in the flange, currency price has been down, want to recover the basic is a long way off, to witness the history of Chia callable bull/bear contracts, with only 1 months time to complete the alternate, The confusion of different roles is inevitable and must be experienced and learned.

If Chia is standing on the shoulders of two giants, Filecoin and BTC, Swarm was born standing on the shoulders of Chia. Chia’s previous outburst has prompted investors to turn to Swarm, either late or in search of higher returns. Chia also helped Swarm build its investor base to some extent. After all, under the rich effect, everyone can agree on the same thing.

One of the most remarkable things about Swarm is that it is backed by Ethereum. In 2019, the project was broken off from the Ethereum project. Swarm was designed to provide data storage for data on the ETH public chain. And Ethereum officials emphasized it again before Swarm went live.

Everyone thought that Swarm token BZZ would be the king of the world when it came to the exchange. In fact, BZZ broke all those illusions when it came to the exchange for a little over $10, and went from the king of the world to the death of the world in just one day.

PHA: Phala (PHA) is a hot spot for Filecoin, which is similar to the mining mechanism of FIL. I don’t know what it will look like when it goes live.

Why can FIL be retained in China and maintain normal computing power growth every day?

Filecoin is a project developed based on the IPFS distributed storage underlying protocol network. FIL has tripled from the initial 20U to the current 60U. Before FIL was launched, there was no listed company involved in mining. The disadvantage of HTTP is gradually exposed. China also needs a new safe network. FIL has not been attacked by China and also meets the national carbon energy standard, so FIL can have a stable computing power growth every day.

This is the best time to participate in Filecoin. IPFS and Filecoin will be further promoted and supported under the national policy of “Numerics and Computing in the West”. The IPFS and Filecoin industry is about to embrace great opportunities and take the initiative to provide data security services and actively participate in the national data security construction. IPFS/Filecoin will definitely take off. Now FIL is in the low price area, what we need to do now is to find a way to take more coins, wait until the next market or bull market, with more coins in your hand to cash in a higher value.

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