Bitcoin Forum

San Francisco-based startup Protocol Labs has sold $52 million in a token pre-sale ahead of an initial coin offering launch next week.

Notable backers of the Filecoin pre-sale include Union Square Ventures and Sequoia Capital, according to a representative of the startup. The Wall Street Journal covered the pre-sale earlier today, and in a tweet, reporter Yuliya Chernova said that Winklevoss Capital, Digital Currency Group and Y Combinator president Sam Altman also took part.

Why do you think, is it worth it or just ridiculous price for such a project?

Storage is already dirt cheap and very difficult to make profit on. How ever, the use cases are end less. If they get their game right, they could have lot of margin while providing high availablity storage at ridiculously less $ per gig. My only worry is that, they raised too much too early. No company ever wins by doing that. It just instills bad spending habits like the guys at juicero (who built a juicer machine that costs $800 and can be replaced by just using hands).

This sounds like Siacoin. Decentralised cloud storage where users can rent out their unused disk space for Siacoin tokens.

did the dev send it free to the president?
if the president join this is the truth,I think this coin may be move to moon!

It's not a ridiculous price, as you can see a lot of high profile already took a part of that project and at the same time try to shilling for the file project. It makes sense if the presale was raising a lot of money. I think you will see over 1/4 billion for the result of the ico sale such as tezos.

So many ICO are now/were below ICO price, especially those overvalued ICOs like Bancor, Status,BAT,Stox & many more.
I will wait for the exchange.

I don't know why they are pleasing SEC regulations, how do they intend to be decentralized by pleasing a group of people? Some of these don't know exactly what they are doing, startup is not cryptocurrency! A part of the Filecoin team I respect because they are competentens and experienced, but these accredited investors... This is reminding me of ZEC! Prepare for Filecoin Classic!

Agree with you. I wish I was an accrediated investor.
Maybe I can get when it hit the market, it's up to price though ;D

I don't understand how these ICOs are getting tens of millions of dollars in short periods of time (in a pre-sale, in that case). Some way of knowing if the developers are not buying coins from themselves.

My thoughts as well.

Either I do. Probably they are smelling the money :)

The marketcap is huge for this type of thing and it's only increasingly getting into demand -> at a crazy fast rate. How many hours of youtube footage are uploaded every minute? Thousands and thousands! It's wild that' sjust one example when you start to think about big websites like google, netflix, hulu, facebook, reddit, ect. ect. it's a massive amount of data.

Amazing ICO it raises $200m in 60 minutes is it record breaking? https://www.coindesk.com/200-million-60-minutes-filecoin-ico-rockets-record-amid-tech-issues

Have you read about the truth of filecoin ico? A lot of highprofil backed it. I think because the US person be able to invest their money to the filecoin. Please you must read more about the project itself. rather than made a weird statement like that.

Yeah it's big project! But i just don't get why they still didn't deliver anything , or im just missing out something?

Remember what George Carlin said its a big club and you're not invited.


All the money from this will go to the developers and venture capital and small investors will have a dumping coin to bag hold. Meanwhile community projects that are multiple times better tech like XtraBytes that does storage as just one of its features is at 7m marketcap. Not for long suckers..

If you suck any harder on banker cock you will damage your lungs.

Regulated ICO is not real ICO - it is usual VC money collected with crypto

VCs seem to be ready for dumping stupid money into crypto-world. I just don't understand why they invest into a project which has a lot of competitors already.

im pretty sure you will get it cheaper on an exchange

So impressed! Cryptocurrencies are having their Netscape moment.

This is my issue as well, satoshi did not need any kind of economic incentive to create bitcoin and then someone is going to try to convince me that this guys need 52 million and that is not even the ICO sale, the ICO sale is going to be successful for them but not so much for investors.

Wish I had jumped on that one. Started small and still is but what an amazing return. Wow