FileCoin mining hardware requirements including 128GB RAM
FileCoin cryptocurrency is very complex and requires very high end mining hardware. This includes 128GB RAM which can get very pricey. Here is an exchange of miner that includes three servers with two computing and one storing from 6block.
As you can see, price can get very high, reaching around 40,000 dollars per year including hosting and maintenance. Sealing speed is the bottleneck, you can provide a lot of space but with 2 computing servers you can still only seal about 1TB/day for your 336TB of storage, and it can take from 210 to 350 days to use and mine with the actual full space.
Meanwhile, you need to stake FIL coins as collateral for the space provided, this is a guarantee and is slashed if space commitment not honoured (the goal being to insure that data isn’t lost). But that’s a chicken and egg pb, as nobody has FIL to start mining and get FIL.
So our 50TB miner is on ramp up to mining capacity but also on ramp to full returns. While on ramp, as of 50/180 days, he gets 50/180 of the reward or 0.075/TB/d, 3.75 FIL for 50TB. Wait is that below the five FIL/day to keep sealing?
$240M worth of hardware, ready at mainnet launch. Not including all the one waiting to be installed. Not some market valuation, real money changed hands, real servers. This is a conservative estimate. Miners invested early on in that much hardware, but can’t keep ramping up capacity because they are forced to buy FIL. At $250B fully diluted valuation.
Miners provided huge support to the Filecoin team during the dev years, and now are rekt. The much anticipated Filecoin launch has turned to sad show and disappointment.