In a world where money is printed from the air and thrown by helicopters, everything is Ponzi. Many people do not believe that bitcoin can grow indefinitely, but here we are 11 years in and 600 million% up. Obviously a lot of things are possible right?
Bitcoin became successful for fighting that. If it just followed, it would be another sheep lost in the herd.
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No.
Ponzi’s are marketed and/or manipulated to push prices to levels that are unsustainable – FOR THE PURPOSE of committing fraud.
Sure many things are now growing in an unsustainable manner … ALL new things do this. But, unsustainable growth isn’t the same as an unsustainable level.
The key to a ponzi is that there are people behind it actively managing it for their own ends knowing that it’s unsustainable at the levels they are aiming for.
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We all have hypotheses about how the world works. Probably everyone is partially right and no one is 100% right.
In this case, in my opinion, Filecoin was not created like Ponzi, and time will prove that a system that in its early days was 99.999% speculation can rise.
It’s all a matter of time. If you attract enough economic mass, you can afford to wait and attract people to use your product. If you are small, I think you are more likely to die.
This needs to go on a t-shirt ASAP.
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I’m not sure what to think about that one. Try doing something with this instead.
Henry Hintermeister, Public domain, via Wikimedia Commons
" This work is in the public domain because it was published in the United States between 1926 and 1963 and although there may or may not have been a copyright notice, the copyright was not renewed ."
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My version is a reference to:
Greyscale added FIL and I’m reading an article where they describe it.
“Filecoin — Filecoin is a decentralized storage and distribution network that aims to take on the $46 billion dollar cloud storage industry and currently facilitates over 5 petabytes of storage. Filecoin connects customers and data storage providers from around the world to achieve an efficient and robust marketplace for data storage needs. This market is growing quickly as video streaming becomes more common, digital resolutions increase, and more connected devices come online. FIL is the currency of the network and the collateral used by storage providers to ensure their good actions”
But hasn’t it been found recently that it’s more expensive than AWS? And that Chinese miners are adding storage capacity but the storage is underwhelmingly utilized? The price is exploding and it’s hard to judge whether this is what people actually believe a decentralized storage solution is worth or if it’s just blind speculation. I’ve mentioned previously a friend of mine “invested” in FIL and he doesn’t even know what it is for or what it does.
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The news, circa 2026:
“Safe Network – Safe Network is a decentralized world computer and secure application infrastructure offering global scale storage, computation capabilities, and artificial intelligence. It aims to restructure or replace the entire $15 trillion dollar internet industry. After surviving the Great Cryptocurrency Crash (gcc) of 2023 that led to the collapse of Bitcoin derivatives, the Safe Network was one of the few remaining blockchain technologies that developers have had any interest in. It first made global headlines in 2024 when a cure to 96% of all brain cancer was published anonymously on what developers call a ‘permaweb’…”
p.s. From a confirmed time traveler. 
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This time traveler needs to be fired. He called Safe Network one of the last remaining blockchain technologies.
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Glad you picked up on that. That was an easter egg to show that the news reporters still won’t get it right in 2026. Maybe the humor was too subtle. 
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Filecoin is actually not a decentralized storage network. Rather, it is a decentralized market for storage by a centralized party who then fully controls the data, i.e., only the market and price setting is decentralized, nothing else.
Filecoin is playing the market game (with a completely underwhelming product) and hogging all the attention. Few realize that it’s actually not even a decentralized storage network. This shouldn’t be surprising if you dissect what buoys the top projects up.
Wouldn’t it be a shame if Safe fails to pay attention to those (sad) dynamics and fails to garner attention with a far superior product while the shoddy products like Filecoin play the “hard money” game to hog all the attention (and attendant network participants)?
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I had this in the back of my mind when writing that because this was pointed out recently but I couldn’t remember it accurate enough to repeat.
Thanks for clarifying that.
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You’re right, I shouldn’t shoot the messenger. Fire that reporter! Time traveler dude is cool.
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Is it only really only one provider that stores the data? It’s been awhile since I’ve checked but is the data split, redundant, distributed in different locations at all? If not then that makes the price action all the more undeserved.
I’m also not so surprised in a sense either because IPFS held (I believe) the first accredited fundraiser in the space. So just like with ethereum, big money got in on something marketed as being able to deliver the world but that is inadequate.
You were just quoting the article. I was more trying to point out that the ecosystem, press, etc. don’t even realize what Filecoin is. They don’t care about technical merit, ease of use, etc. but only about number go up and money fundamentals (which Filecoin is achieving by artificially locking the supply, forcing miners to buy to participate, setting high message/post fees, and incentivizing continuous capacity addition that they use in marketing materials).
These are some of the social / human side of the equation that Safe will need to be mindful of.
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Yes this is the big lie!
I love this, haha. So true. People.
That’s right. Just one provider. If the client wants redundancy/distribution that isn’t under the control of the lone provider, then the client has to enter into a separate contract with yet another provider.
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