
Filecoin ICO raises $200M in 60 minutes - pfista
https://www.coindesk.com/200-million-60-minutes-filecoin-ico-rockets-record-amid-tech-issues/
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badestrand
Amazing, although I am not sure I understand their business model correctly.
So they are a middle man for digital storage rental and those transactions are
done in Filecoins that only they can mine and distribute? So that company has
>$200M in cash now or who gets that money? And the investors are in because
they saw the surge of Bitcoin (and now of Filecoin)?

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Canada
How will these storage coins stop cheaters? Why can't I claim that I will
store your data and just not do it?

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pfista
Check out their whitepaper
[https://filecoin.io/filecoin.pdf](https://filecoin.io/filecoin.pdf)

It includes two proofs, proof-of-replication and proof-of-spacetime which help
prove someone is storing the file multiple times in independent locations.

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Canada
It looks like some kind of zero knowledge proof. Why I can't just generate
that and then discard your data?

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lgierth
Because you need to keep proving over time

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Canada
Reading the paper I get the idea. Although it's possible to cheat, nodes have
to put filecoins at risk of loss if they get caught.

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thebiglebrewski
Who is putting up this kind of cash?!

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wslh
Accredited investors ;-) Didn't notice the difference with non accredited
ones.

