Want to invest in Filecoin mining? You should know these!
Since the Filecoin mainnet went live on October 15, 2020, although problems such as high gas fees have not been completely resolved, the continuous influx of active miners throughout the network has made more and more investors begin to understand Filecoin. And began to try to invest in mining.
The difficulty of mining Filecoin is very high, and the extremely complex economic model also needs to be understood in detail. Below, Wheat has refined some points for everyone, mainly for the release of rewards, the trend of total rewards, the trend of FIL/T revenue, and the input-output ratio. Wait.
No. 1 baseline
The Filecoin network introduces the concept of block reward benchmark minting, issuing tokens by estimating network utility, changing the traditional method of minting tokens purely based on the passage of time. According to the official Filecoin economic model, the release of block rewards is divided into simple casting and baseline casting. Simple casting accounts for 30%, while baseline casting accounts for 70% (affected by baseline standards).
Simply put, the baseline can be understood as a KPI, and if the KPI is reached, you can get the full reward.
If the actual size of the Filecoin network does not meet the baseline requirements, the release of the baseline part will be restricted. When the scale of the entire network's computing power reaches the baseline standard, the total daily income will greatly increase. The total income is not a sudden process, but a process that is gradually released as the scale grows.
The current baseline situation?
Because in the Filecoin network, 70% of the FIL released every day is affected by the baseline and limited by the baseline network. According to the formula, the actual release of the baseline is about 37% of the baseline part, and most of it has not been released. In the future, as the scale of computing power exceeds the baseline standard, the block rewards released to miners will increase. According to the current increase in computing power (approximately 700 TiB/H), it is expected that the benchmark network requirement will be met in May 2021.
No.2 total reward trend
According to the statistics of observations and data, even if you just watch the block explorer frequently, you can get a prediction: as the scale gets bigger, the total reward will get bigger and bigger.
The increased rewards in this part mainly include two pieces: 1. Return to the normal baseline network level; 2. The delayed release part that did not meet the baseline standard before.
But it does not increase indefinitely. When the effective time is close to the natural time, the daily reward will gradually decrease, returning to the normal 6-year halving release cycle.
Therefore, the trend of Filecoin's daily output of FIL will generally continue to increase until it reaches approximately the release of the 6-year halving cycle.
No.3FIL/T income trend
Customers who invest in Filecoin have recently noticed that single-T income seems to be decreasing. This is related to several factors.
The initial baseline of the Filecoin network is 2.5EB, 2.5EB=2560PB, which is increased at a rate of 100% per year, and the baseline increase rate is about 7PB/day, 2560/365≈7PB; the increase in the entire network's computing power is greater than the increase in the baseline Speed, then the total block reward released by the entire network every day is gradually increasing.
So according to the above, the total block reward released every day has increased. Why is the single-T revenue of the whole network declining?
We use apple picking as an analogy. Although everyone works hard to pick apples every day, the number of apple pickers is also increasing. The rate of increase of apple pickers is greater than that of apple pickers, so relatively speaking, each person’s apples are distributed decreasing.
Another reason that affects revenue is the fluctuation of gas fees. Recently, there have been many cases of ultra-high gas on the entire network. When the basic cost is high, the amount of destruction may account for a relatively large proportion, even close to 30%. The most direct impact is that it will reduce the daily revenue of the entire network, that is, the decrease of Apple, then our single-T revenue will also decrease.
With the increase in total rewards and the gradual control of gas fees and other issues, it can be predicted that the single-T revenue will rise to a certain extent, and after the rise, it will gradually decrease slowly. In general, only the computing power that is deployed in advance can catch up with the single-T revenue growth area.
No.4 Input-output ratio
With the gradual development of the Filecoin network, some people will be concerned about what will be the future earnings if they start investing now?
Static calculation based on data on January 1, 2021:
Average daily income of the entire network: 0.14 FIL/TiB
computing power increase mortgage: 8.3104 FIL/TiB
new computing power handling fee: 10.7296 FIL/TiB
maintenance computing power cost: 0.00066888 FIL/TiB / day
purchasing power count the cost: 2000 yuan / TiB (assume)
FIL Price: 150 yuan
single T expenditure: purchase cost + count count force force force growth in mortgage fee + count + new operator force to maintain 365≈19.2841FIL + 2000 Yuan ≈ 4892.62 Yuan;
single T income = single T daily income 365 + computing power growth mortgage = 59.4104 FIL ≈ 8911.56 Yuan, the
income is about 82.75%, and this part will be fully obtained after one and a half years of mining.
Filecoin is a long-term ecology, and the miracle of compound interest will be very gratifying.