Filecoin Miners Start a Strike – FIL Validators Claim the Project’s Economic ...
The Filecoin project has surely seen a lot of hype but during the last few weeks before the launch, the cooperative digital storage crypto project has been criticized a great deal. This weekend a few Filecoin miners have been on strike and claim the economic model is not working out for them. Just recently the Filecoin (FIL) token offering has been a topical conversation, as the project joins the cryptocurrency economy. Moreover, controversy recently surrounded the project when the crypto community questioned the movement of 800,000 FIL tokens. Now another story is arising that shows a few....
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Some of the largest Filecoin miners stopped mining on Saturday, complaining the project’s mining incentive scheme has made it impossible for the miners to start operations.
“Miners are following the protocol, and making a ton of money doing so,” said Juan Benet on Twitter. Juan Benet, the creator of Blockchain-based data storage platform Filecoin, has called allegations that miners of its token have been on strike since Saturday “nonsense.”According to a report by 8btc.com, five of the largest Filecoin miners turned off their machines to protest the project’s “unfair” economic model, which currently requires a significant amount of FIL tokens to begin mining. Crypto Twitter user Nico Deva was one of the first to claim that “a majority of miners” were on....
Five Filecoin miners have gone on strike. Bitcoin miners are seeing depressed earnings. And Binance is closing its Jersey branch.
The mandatory upgrade is the first post-launch upgrade to the Filecoin network.
The Filecoin network is facing liquidity problems, forcing some miners to borrow the native token at outrageous rates.