Loading ...“Overwhelming Demand” Sees Filecoin ICO Raise $250 Million Without A Viable Product
It’s official: Filecoin, a blockchain project created by Protocol Labs, has raised nearly $250 million following a private “pre-sale” and public initial-coin offering – all without having a viable product to market.
According to the Wall Street Journal, the hotly anticipated ICO raised nearly $250 million after opening its offering to the public on Thursday. Thanks to a promise to offer discounts to the earliest investors, the Filecoin site crashed during the first hour of the public sale due to “overwhelming demand.”
“Because of heavy traffic on the site, the coin offering was paused when it started Thursday, raising some doubt about where the endeavor will end up. On Saturday, the firm announced it had reopened the token sale at 2 p.m. EDT. The outage was caused by a flood of orders, the firm said.
FileCoin is a poor investment… Look no further than SiaCoin – it is the same concept, ‘leasing out hard drive space’., SiaCoin has a viable product already – it’s coin value is $.006. The idea sounds good… But there is no demand for ‘extra hard drive space’. There are thousands willing to lease out hard drive space, including me – problem is no one wants it… even for pennies.