Filecoin
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FIL · 1w

Credible to use?

Hi guys, recently picked up an interest in filecoin. I read that in order to safeguard that storage miners stick to their end of the agreement in storing data, they are penalised via Filecoin. Is this penalty strict enough? And does it mean that as a client you are trusting that a miner won't simply decide it isn't profitable anymore, and decide to delete your data? When storing data, is that data only stored on the hardware of the miner which you reach an agreement with? If so, is that strictly decentralised? Doesn't it mean that rather than having your data stored across many locations, it is only being stored in one location, ie centralised. ​ Thanks for any clarifications, hopefully I used the correct terms!
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