Siacoin & Filecoin | Can It Be Done? + My $$$ Pick!

Siacoin & Filecoin | Can It Be Done? + My $$$ Pick!

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Disclaimer: None of the information in this video should be
considered as advice. This video was made for entertainment
purposes only.

I look for long term projects that are trying to solve real world problems that are different than other cryptos. Because remember, most believe that 90% of cryptos are going to eventually fail, and that 10% will be left succeeding and likely making their investors a lot of money. So choose wisely.

Well, I believe these two coins have that 10% staying power, as long as they can deliver. They’re definitely different than other cryptos, as well as being innovative as hell.

Meet Siacoin and Filecoin. Now a lot of people have a preference one over the other. But I’ll let you make that decision about which one you like more. And I’ll give you my opinion so stick around.

In a nutshell, I’m going to explain what they do and the problem they are trying to solve, and I believe they hold so much potential value. There are some differences in the way they work, but we can save all the technical stuff for another video.

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Both Sia and Filecoin are innovating blockchain technologies in a unique way, and that is by decentralizing the data storage sector.

Data is the most valuable asset on this planet, literally. And the way we store this resource, this data, is going to evolve.

Sia and Filecoin brings a level of innovation to the crypto world that I’m digging. Data storage will become more of a problem as time goes on. We have to start looking past cloud storage as the only solution. Innovation.

For instance, many police departments can afford body cams. Not because of the cameras, but because of the storage of the videos.

What Sia and Filecoin are doing is often referred to as the Airbnb of harddrives. The statement that resonated with me was when the founder of Filecoin explained it like this, imagine all these people out there with all of this empty data storage space that could be getting used, just like all these rooms in people’s homes that were sitting there empty and useless until Airbnb came along. That’s when it clicked for me how different this crypto really was, and maybe that helps visualize it a little better for yourself.

Look at this chart. You can see that we are integrating more and more data storage into our daily lives. And this trend is going to continue moving upward. This is the reason companies are begging for low-cost high security data storage, such as Sia or Filecoin. On average, Sia’s decentralized cloud storage costs 90% less than incumbent cloud storage providers. Storing 1TB of files on Sia costs about $1-2 per month, compared with $23 on Amazon.

Siacoin is the native token for Sia. And FIL is the the native Token for Filecoin.

Siacoin is sitting in the number 107 position in terms of market cap and at .018 cents per Sia. Now the supply is much higher than filecoin with more than 49 billion Siacoin.

Filecoin is sitting much higher overall at the number 29 position and are priced much higher per Sia at $59. 94. However, their supply is much less than Sia with nearly 118 million in total supply.

#siacoin #filecoin #siacoinarmy