Bitcoin Forum

Like most of you, I was introduced to SIA Coin as a secondarily mined coin to Ethereum via Claymores Dualminer software. On the premise, I thought it was awesome. Good technology, small but good team, I see a market for it, and I can see why people would choose it over AWS from a cost/security perspective.

Heck, I was even ready to pull the trigger on pre-ordering 2 Obelisk (their ASIC Miners).

That said, I'm starting to have my doubts. Their coins haven't surpassed $0.01 since all coins were waaaay up about 2 months back. Even then, they weren't what I'd consider "high". My issue is that there appears to be little to no marketing despite having a working platform. The UI seems horrendous, albeit I've not used it, outside of the wallet part.

I understand this is never going to be a $50 coin, but some movement would be nice...

What are your thoughts?

Just to add - https://www.bostonglobe.com/business/2017/08/07/sia/sUZ0p3EEAsgVuL2aGCeqEJ/story.html

Great....make a great product and a coin to go with it. have miners mine said coin, and make it so worthless that it doesn't even offset the cost of mining it.

As I understood it the fees users of the sia network pay to have their files hosted are lower than what StorJ charges for file storage, so if they can compete on price with another product that is marketed well, they might still gain traction.
This video gives a more detailed comparison: https://www.youtube.com/watch?v=0gNVJjJAve0
I hope this helps.

No no, I get the concept. I've done tons of research on their service, the technology, etc.

My issue stems from statements from the core Dev team like;

So, in short they want it mined (which ive been doing for months), but they don't want it to be an investment....so....without sounding greedy....what upside is there for the miner, the backbone to their technology?

No in short they want it to be stable. SC is still worth N amount of USD.

1 cent was nice. $50 we will never see, but maybe $1 or $5 max. That is still crazy.

I understand that stability is a major priority for them, but to what end?
I personally never see this coin getting over the $0.20 mark with the PR team they have in place today.

I again stress that I think the technology / service has the potential to be game changing. I just hope they don't squander the opportunity.

My opinion is that this coin had a promising tech with potential, and I've been waiting one month, following the dev team and any news.
Sadly the price seems to be tanking, and that will drive off many potential investors.

Storj appearing is also a gamer changer, but at this point, its difficult to decide which one will be the winner (and since the idea behind the tech itself is actually quite interesting, I can see some new spins on it appearing soon from other coins).

I totally agree with you.

Sadly, thus far, SIA has taught me that it takes more than a great technology to build a business.

I think if they got themselves a good PR team, it would remedy a lot of their shortcomings. Watching the good news come out, that should be driving up the price up is being blundered by the dev team.

Hats off, they are making awesome strides in terms of the development, but its painfully clear they don't know the first thing about PR. They didn't learn from their mistakes with the shit-show Obelisk pre-sale, and they seem determined to make the same mistakes again.

im still buying siacoin this day while it drop now. i believe this coin will up again. for some reason would believe this coin is the best to save up.

If compare the potitial of Siacoin with other altcoin on market with cheap price as Digibyte, Stellar, I think Siacoin can't compete with them because Asic hardware for Sia is worst make me can't like it. Not like Digibyte is altcoin have a huge community Chinese before pump to high price, Siacoin just popular in recently after pump to high price in May.

just give it a little time. Market will apreciate Sia for what its worth soon enough. Better accumulate untill then

it depend more on market.. in exchanges nothing impossible. dont u agree mate. it more depend at market then worst asic hardware to make the price up. to be honest im still believe the price will pump up again soon or later. just wait for the whales pump it again. i will not miss the train.

Guys, at the begin of June I invested 300 euros in Siacoin to get 22162 SC (paid around 580 sat per Sia at that time). I was naive to buy at a high price, but I didn't have any experience at all, hence this mistake. Because of the technology I thought that it would be wise to invest another 300 euros when the price is around 200 sat per SC and to sell my first Sia's when the price is 580 sat again. The latter investment would be a long term investment. Do you think that it would be a good decision to do it like this?

This is called averaging, and yes this is how you minimize loss.

You will see 580 sat per Sia again soon enough. That is quite low actually. I expect 600+ sat by December.

At less that a cent per share it makes sense to invest a small amount of money that you are not afraid to lose. Just set a sell stop at some amount higher than the current price. If it ever runs, you can turn a quick profit and not even know it.

Ripple was trading for fractions of a penny for along time and then one day it made some people really really rich. It doesn't sound like sia is a scam coin and the team is reputable therefore perhaps it just needs some time on the market until it's found by big money traders.

Thanks for your reply. What makes you think that Sia will be worth 600+ sat per SC by December?

I follow SIA a fair bit, and I too would be interested in hearing why you think it will increase? I have no idea what coin Sat is, or its value. FYI

Sat is a way of determining the coin's value. 1 sat = 0.00000001 btc (sat stands for Satoshi)

Gotcha - Ok, thanks!

I bought it from 280 satosi price and currently it is dropping very strongly i take 50% account with it

I was mining SC in dual with ETH, but know switched back to Decred. I don't believe in SC anymore.

I too switched to Decred as my secondary, and as of last night - converted a chunk of my SIA into Deep Onion coin.
One of the main dev's posted a positive note on their reddit group yesterday - seems to have helped the case some, but the fact remains that its a poor "make money" investment. Further, I can't stand the SIA purists that think wanting a profit from my investment is some sort of "bad" thing.

I'm still going to hold 15k in coins, because why not..