fil itself is a very good project with a very clear vision and a reliable team.

The biggest reason why this project failed is that it was used as a pyramid scheme by a large number of people in the country.

I hang out in many groups, and everywhere I go, there are people selling fil mining machines.

Those who bought FIL mining machines paid as little as 70,000 yuan and as much as several million yuan, and most of them were trapped.

Can these people who are trapped get their money back in the next bull market? I think it is very difficult. The banker will not be so kind.

Moreover, the surge in FIL is purely emotional, and there is no fundamental valuation at all. It has been CXed into this by some people in China.

Everyone in the group is promoting that buying fil will lead to financial freedom, and buying a mining machine will allow you to mine for a lifetime and you will be financially free.

But after spending so much money, have they really got the mining machine or mined the coins? Can they sell them? This is all a mystery.

If you are really optimistic, you should buy a mining machine and mine it yourself. I predict that FIL will be difficult to rise, not only because many people are trapped.

It’s more because of the bad reputation. Things with the same name as cx will have a bad reputation. When the reputation is bad, there will be no traffic, and it will all be negative feedback traffic.

What's the use of that? Institutions won't buy it, bigwigs don't dare to buy it, and retail investors don't have the courage to buy it, so FIL is basically doomed.

In addition to mining and staking, what other ecosystem does fil have? There are no usage scenarios, so what is its value?

A drop like this is the inevitable result of a bubble burst. Now the daily selling pressure of FIL is 500,000 FIL.

1.5 million US dollars need to be sold in a day. In this bear market, who will take over? There are very few people and liquidity may dry up at any time.

The secondary market can’t catch up, so it keeps falling. In December last year, the price of fil was 5U, and now it’s 5.3U. And there is no computing power package anymore.

There is no consumption for fil, only selling pressure. You are full of longing for fil and see the villa. But what fil will give you in return will be the cruel reality.

I know that some people will definitely go on together, and we can only go on together.