Conversation

That large amount of Filecoin coins the first day were testnet coins that somehow were valid on the main net and were dumped on exchanges. You can't make this stuff up.

Quote Tweet

฿itcoin

@CryptoChrisG

Oct 20, 2020

This is going to get a lot of attention once someone translates this. mp.weixin.qq.com/s/VW6KxNtyvZJ- $fil testnet coins moved on to exchanges & were sold. Gate & Huobi seem to be the biggest. Binance & poloniex limited damage.

Show this thread

270

Replying to

and

Quote Tweet

Replying to @mattysino

Not 100% sure but I think the rumors are false -- I *think* that there weren't 30mm coins hitting exchanges. You can mostly verify this by confirming that the total volume, in FIL tokens, on exchanges was less than 30mm

12:15 PM · Oct 20, 2020Twitter Web App

Replying to

and

From what I understand during the last phase of the testnet miners, as a reward, could swap testnet coins for main net ones. These were supposed to be vested which wasn't the case. The supply the first day was supposed to be 420k coins? So even 1.5 mill coins is a huge fuckup.

Show replies