Bitcoin Forum

Curious what you all think of what might happen with Siacoin when these Obelisk miners come out next year. They can mine 150k SC a month.
Will that help the price of SC go up?

More supplies = More coins waiting to be DUMPED

Therefore it will pull the Price of SC DOWN

Essentially he is VERY correct. It provides a huge motive for miners to get their $BTC$

There is the age-old question: "What correlation of mining to coin-price"
The quick and simple answer is, there is NONE, and if anything, it is inversely proportional, ie. More mining = less price.

HOWEVER... if you look at the price of ASIC-mined coins over the long-term, you will see the opposite is also true. Example: this year Bitmain released the machine that doubled, quadroupled, 10x'd the network hashrate of LTC... yet LTC is doing better than ever. Ive even noticed an overall increase in other Scrypt coins.
the D3, and Dash... similar.

So i think there is that notion that. If a coin is so attractive that they would create a miner just for that, chances are, its a solid project with a large potential uptake. The Obelisk miner is created by Nebulos, the guys that created SC. I put my money down on SC, and if you follow it. Looks like a real promising project with great application and great potential.

At the end of the day, we are all sitting in the same crypto-ship setting sail for paradise.  ;) ;D

How to mine this coin?

Siacoin is a solid project and is slowly gaining traction. The release of the obelisk ASICs should only increase its value by showing its a coin worth having an ASIC for.
Have you seen other shitcoins with an ASIC? No, because they are shit. Goes to show siacoin has value and is good as gold.

The product works and I'm using.  So much cheaper than Amazon drive.

Would have to agree with ya' here. There's a good amount of their R&D budget that was spent on these things. It builds value in their brand.

Not to mention from the Obelisk website:

"Is Obelisk its own company?
Yes, Obelisk is a wholly-owned subsidiary of Nebulous, Inc.

Nebulous, Inc. is the creator of Sia."

P.S.
On a complete side note, I'm a bit of a sucker for the Obelisk website. Very well designed.

THe problem with Siacoin is the 28 Billion SC. COmpare that to ETh @ 90M

28,858,687,025 SC

If the miner was a grand I'd be all for it. But $2,500?
Maybe they assume that the value will be going up after the first run launches.

Yeah 2500 is pricey. I like what Siacoin is as a project, and understand why they are going down the ASIC path, but it does obviously impact the average gpu miner.

However if their core storage functions become user friendly then losing your average gpu miner won't really matter to the future of Sia.

Yes, I was putting Siacoin in my list, was thinking to mine some and keep. But after I know total supply is unlimited, then I have to remove it from my list. I'm not dare to forecast the future, but I just better choose other coins.

All scrypt-based shitcoins are ASIC mineable.

With GPU dual with ETH or ETC is best option I think so

Looks like BitMain has just released an ASIC for SC.