Last update: 18-05-2024 16:00 UTC
Top trading strategy Filecoin (FIL) 4H – Live position:
- Open long
- Entry price : 5.855 $
- Pnl : %
Trade history
Over 6 months
Complete
«Top trading strategy Filecoin (FIL) 4H» vs Buy & Hold ?
For this comparison we started from an initial portfolio of $1000 allocated to the «Top trading strategy FIL 4H». was split evenly between the ten cryptocurrencies. It is compared to a Buy & Hold strategy consisting simply of buying and holding its asset.
Historical comparison of cumulative returns with Buy & Hold
Annual comparison of cumulative returns with Buy & Holds
Heatmap of monthly returns
Distribution of the monthly returns of the top strategy
Presentation of FIL
Filecoin (FIL) is a decentralized digital currency that harnesses blockchain technology to provide a decentralized storage network. It was first proposed by Juan Benet in 2014 and was launched in 2020 with the aim of revolutionizing the storage industry. FIL operates on the InterPlanetary File System (IPFS), a peer-to-peer network designed for storing and sharing data.
Filecoin aims to address some of the inherent challenges in the traditional storage industry, such as high costs, lack of transparency, and centralized control. By leveraging the blockchain, Filecoin creates a decentralized marketplace where users can rent out their excess storage capacity or purchase storage from others on the network. This peer-to-peer model eliminates the need for third-party intermediaries and enables individuals to monetize their unused storage resources.
One of the key features of Filecoin is its Proof of Replication (PoRep) and Proof of Space-Time (PoST) mechanism. PoRep ensures that the stored data is replicated across multiple nodes, enhancing security and data availability. PoST, on the other hand, verifies that the storage provider is continuously storing the data over time. Through these mechanisms, Filecoin ensures the integrity and durability of the stored data.
Another notable aspect of Filecoin is its incentive mechanism. Users are rewarded with FIL tokens for providing storage services or contributing to the network’s computational tasks. This incentivizes network participants to comply with the protocol and maintain the integrity of the system. The use of blockchain technology also ensures transparency, as all transactions and storage activities are recorded and can be audited.
The potential applications of Filecoin are vast. It can benefit individuals, businesses, and organizations that require secure, decentralized storage solutions. Filecoin can be used for various purposes, including data backup, archival storage, content distribution, and decentralized applications (dApps). By providing a reliable and cost-effective storage solution, Filecoin has the potential to disrupt traditional cloud storage providers.
However, like any emerging technology, Filecoin faces some challenges. One major concern is the scalability of the network. As more users join the network and demand for storage increases, the system needs to handle a larger volume of transactions and data. Filecoin’s developers are continuously working to improve the scalability and efficiency of the network through protocol upgrades and optimizations.
In conclusion, Filecoin is a promising cryptocurrency that aims to revolutionize the storage industry by providing decentralized, secure, and cost-effective storage solutions. Through its innovative use of blockchain technology and incentive mechanisms, Filecoin has the potential to disrupt traditional storage providers and empower individuals to monetize their unused storage resources. However, it also needs to address scalability challenges to ensure its long-term success.
Strategy details
«Top trading strategy FIL 4H» is the result of meticulous selection work. Above all, we backtested long and short around 20 strategies. Then, we selected for you the best of them on the basis of their success rate and their risk gain ratio. In order to refine the money management of the trading strategy, we take into account the relative cumulative return between the three strategies for each position taken. We are currently working on incorporating Kelly’s formula into position sizing.
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Disclaimer: This article is intended for informational purposes only and does not constitute financial advice. Investors are advised to conduct their own research and consult financial professionals before making investment decisions.
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