Is there still hope for the leading storage sector FIL???

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

The biggest reason this project has gone bad is that a large portion of people in China have turned it into a pyramid scheme.

A few years ago, I was in many groups, and there were everywhere selling FIL mining machines.

People who bought FIL mining machines spent as little as 70,000, and some spent millions, and most of them are basically trapped.

Can these trapped people recover their investments in the next bull market? I think it's very difficult. The manipulators won't be so kind.

Moreover, the previous surge of FIL was purely emotional; there was no fundamental valuation at all. It has been distorted by some people in China.

At that time, everyone in the groups was promoting that buying FIL would lead to financial freedom, and buying mining machines would allow one to mine for a lifetime and achieve financial freedom.

But after spending so much money, did they really get the mining machines? Or did they really mine coins that they can sell? This is all a delusion.

If one truly has confidence, they should buy the mining machines themselves and mine on their own.

I predict that FIL will be very hard to rise, not just because there are many people trapped.

More importantly, its reputation has deteriorated; things with the same name as CX will have a bad reputation, and with a bad reputation, there will be no traffic, and it is all negative feedback traffic.

So what’s the use? Institutions won't buy, big players dare not buy, and retail investors lack the courage to buy, so FIL is basically doomed.

Apart from mining and staking, what else does FIL have? There are no usage scenarios, so where is its value?

It has fallen this way, which is merely the inevitable outcome of a bubble bursting. Now FIL has a daily selling pressure of 500,000 FIL.

There is a need to sell 1.5 million dollars a day; who will take over? Very few people, liquidity could dry up at any time.

FIL has no consumption, only selling pressure. You are filled with fantasies about FIL, seeing the villa. But what FIL will ultimately return to you is the harsh reality.

I know some people will definitely continue with FIL, and we can only continue together.