Market Research on market size and growth

Filecoin at 11 EiB farming resources today.

Still only about 27.5 PiB stored on the network (source). That’s about 2.5 PiB added in 17 days, which makes for an average total network upload rate of about 15.3 Gbps. There’s 774 providers, so that’s an average of 19.8 Mbps upload bandwidth per provider.

0-1 EiB after 87 days
1-2 EiB after 58 days
2-3 EiB after 45 days
3-4 EiB after 35 days
4-5 EiB after 26 days
5-6 EiB after 29 days
6-7 EiB after 28 days
7-8 EiB after 21 days
8-9 EiB after 19 days
9-10 EiB after 19 days
10-11 EiB after 17 days

12 Likes

Just a random early morning thought but not knowing the costs and mechanics of Filecoin, I’m curious if it’s profitable to upload junk to be a provider? Or something like that.

I guess I don’t understand how it’s profitable to provide such a glut of unused space and have that continually outpace actual storage. So it just makes me wonder if most of what is being uploaded is at least useful.

In comparison with SN where you get paid for data being retrieved not for providing unused space.

IPFS uses Filecoin AFAIK and most NFT platforms use IPFS so I know at least a highly sizable chunk of the NFT world should being stored there.

1 Like

They are different networks from what I’ve read

1 Like

Yeah as @drehb says they are two different networks.

Filecoin uses the same concepts / protocols as as ipfs but there’s no crossover of data at all between the two. And the reason (as far as I can tell) is because filecoin charges for GET, so if they stored on ipfs there would be no way to do that. Seems backwards to me.

The idea of filecoin was to add an incentive layer to ipfs so data would be stored in a reliable way (ipfs data can go away any time, it depends on enough peers deciding to seed the data, so I think filecoin identified a good opportunity). But for filecoin to achieve this data durability they also had to charge for downloads as well as uploads. I think the reasoning was if people can download for free it would mean farmer bandwidth is being consumed but not paid for, and that meant filecoin farmers couldn’t operate in a predictable economical way (or to rephrase, the incentives weren’t aligned). I can see the logic there. But if less than 1% utilization of storage is the result of ‘aligned incentives’… I’m not sure it’s really such a good system.

7 Likes

Some food for thought I found on Wikipedia.

The world’s technological capacity to store information grew from 2.6 (optimally compressed) exabytes (EB) in 1986 to 15.8 EB in 1993; over 54.5 EB in 2000; and to 295 (optimally compressed) EB in 2007.[9][10] This is the informational equivalent to less than one 730-megabyte (MB) CD-ROM per person in 1986 (539 MB per person); roughly four CD-ROM per person in 1993; twelve CD-ROM per person in the year 2000; and almost sixty-one CD-ROM per person in 2007.[11] It is estimated that the world’s capacity to store information has reached 5 zettabytes in 2014,[12] the informational equivalent of 4,500 stacks of printed books from the earth to the sun.
The amount of digital data stored appears to be growing approximately exponentially, reminiscent of Moore’s law. As such, Kryder’s law prescribes that the amount of storage space available appears to be growing approximately exponentially.[13][14][15][8]

From Information Age - Wikipedia

5 Likes

17 days for filecoin to go from 11 EiB to 12 EiB. The growth is incredibly consistent.

Currently priced at $71.20 for a market cap of nearly $8B and ranked #25 by market cap. 24h trade volume is just shy of $1B.

As a $8B network with 12 EiB that naively puts the value of 1 GiB at $0.62, a decent premium considering these figures:

Filecoin storage cost: $0.0000512 per GB per year source

S3 storage cost: $0.276 per GB per year ($0.023 per GB per month)

Backblaze storage cost: $0.06 per GB per year ($0.005 per GB per month)

New HDD: $0.33 per GB ($135 for 4 TB)

0-1 EiB after 87 days
1-2 EiB after 58 days
2-3 EiB after 45 days
3-4 EiB after 35 days
4-5 EiB after 26 days
5-6 EiB after 29 days
6-7 EiB after 28 days
7-8 EiB after 21 days
8-9 EiB after 19 days
9-10 EiB after 19 days
10-11 EiB after 17 days
11-12 EiB after 17 days

10 Likes

Used Sia storage:


Privacy. Security. Freedom

3 Likes

Was there some trigger that caused the usage to start going vertical earlier this year?

1 Like

Yes, the Sia Foundation. It took them 5 years to conclude that the mass, the mass of people on the planet are not ready to move to decentralized data storage and create a foundation to support the process.


Privacy. Security. Freedom

2 Likes

25 days for filecoin to go from 12 EiB to 13 EiB

0-1 EiB after 87 days
1-2 EiB after 58 days
2-3 EiB after 45 days
3-4 EiB after 35 days
4-5 EiB after 26 days
5-6 EiB after 29 days
6-7 EiB after 28 days
7-8 EiB after 21 days
8-9 EiB after 19 days
9-10 EiB after 19 days
10-11 EiB after 17 days
11-12 EiB after 17 days
12-13 EiB after 25 days

Chia network still around 36 EiB, been almost 3 months at about that size.

6 Likes

I wonder what is the total size of the worlds de-duplicated data sets.

I also wonder what data means?

  • Papers :white_check_mark:
  • emails / comms :white_check_mark:
  • photos :white_check_mark:
  • music :white_check_mark:

But what about log files, all video and temporary data etc. ? Video is huge as we know, but with cameras al over the planet continually recording I wonder if it’s even possible to store that. Perhaps looking at the max possible data that can be created (something like max b/w per compute device * num devices?)

8 Likes

If you didn’t see it, here is a topic thread you might like about the information catastrophe.

3 Likes
7 Likes

Is that data stored or space available? I know space was mental, but data lagging, great if data is actually increasing now though.

4 Likes

It looks like actual data stored. Available space is at multiple exabytes.

6 Likes

Brilliant news then :+1: There is a market for sure, always good to have more visibility

8 Likes

Today filecoin reached 14 EiB farming capacity.

38 days for filecoin to go from 13 EiB to 14 EiB

Looks like the growth in both filecoin and chia farming are slowing down considerably (not shrinking, just not growing as quickly).

0-1 EiB after 87 days
1-2 EiB after 58 days
2-3 EiB after 45 days
3-4 EiB after 35 days
4-5 EiB after 26 days
5-6 EiB after 29 days
6-7 EiB after 28 days
7-8 EiB after 21 days
8-9 EiB after 19 days
9-10 EiB after 19 days
10-11 EiB after 17 days
11-12 EiB after 17 days
12-13 EiB after 25 days
13-14 EiB after 38 days

5 Likes

Normal “S” curve of technology adoption. A bit early though which means a very flattened “S” curve

I dont think chia has grown at all for 3 mnth personally. If anything it looks like a tiny decline, but nothing really worth mentioning.

Filecoin reached 15 EiB farming capacity yesterday. That’s 42 days to add the most recent EiB of storage capacity.

29.2 PiB being stored.

0-1 EiB after 87 days
1-2 EiB after 58 days
2-3 EiB after 45 days
3-4 EiB after 35 days
4-5 EiB after 26 days
5-6 EiB after 29 days
6-7 EiB after 28 days
7-8 EiB after 21 days
8-9 EiB after 19 days
9-10 EiB after 19 days
10-11 EiB after 17 days
11-12 EiB after 17 days
12-13 EiB after 25 days
13-14 EiB after 38 days
14-15 EiB after 42 days

7 Likes