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Maybe he is talking about the future when a coinbase uses Vanilla coin instead of the inferior Bitcoin and then it will be true.....though not seconds but Zerotime which is sub second speeds......for the entire transaction with negligible risk of double spend....I shit you not.
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Regarding the $400,000 investment in the seed fundraising, what does Magma the investor get for return? Did they get $400,000 worth coins for return or somehthing else in the future for return? They probably get some kind of share of the company, not sure tho but got this from their website. I thought the gemz was the sole income resources within the ecosystem of this project if it takes off in the future. If there are company stock shares, how will the company make profit besides the gemz? While your wallet and the messenger element of the app is decentralised and encrypted end to end the app obviously has some centralisation to maintain and develop the store etc. IF successful the company would have some power in how the app connects to traders etc so would have some revenue streams I imagine. I remember from the beginning of the project Getgems as a company would clearly have some revenue possibilities BUT in comparison to the average centralised app their potential is likely to be peanuts cause most advertising revenue would be given to the user but a small commission for maintaining everything is inevitable and deserved......no one should work for free. |
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treid that already, says something I think about not having a node, im not 100% cause im using a korean lang computer.
oh, that's a bug. Can you provide more information? It shouldn't be happening. Nope, can't be bothered. And this is how the average user will behave if everything doesn't open like clockwork. I know it's in beta but I'm not working for you...so until stuff like this is ironed out don't wonder why no one is using it. |
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treid that already, says something I think about not having a node, im not 100% cause im using a korean lang computer. |
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But no one is really storing anything
This I think is the most important fact about our entire network. We need to solve this problem. So, open question: What do you need from Sia in order for you to start using it to store files? This isn't about hypothetical other people or businesses, but directly about the person reading this post. What is missing from Sia today that is preventing you from wanting to back up your storage. I can think of two things for me: 1. I'm nervous about spending money on siacoins to back up my data. But I'm going to bite the bullet and allocate 1 million siacoins towards backing up my data. 2. There are no spending limits in the renter yet. When I upload a file, there's still that question of 'what if it screws up?'. This can be solved in 0.4.2 by adding spending limits. 3. Files have to be uploaded 1 by 1. I would rather have some other way to upload files than 1 at a time, especially since my primary use case is backing things up. I think we can also fix this in 0.4.2 and, though this is a lesser deal for me 4. It's annoying to use sunfish right now because I can't upload ascii files. I think that this is already fixed in master though. how the hell does an average user download this wallet anyway? Average user want to click open on something and it friekn opens....so far the wallet is a bunch of files that make no sense to me....I am your average user. |
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I think it might have something to do with the new 0.4.0 client which did not meet the expectation.
 hmm I guess not. Do you care to enumerate exactly where it falls short? I think we fixed most of the things in 0.4.1 but it depends on where your priorities are.
Because Siacoins are not an investment. To me the supply model doesn't make any sense if you are concerned about the price per Siacoin. If hosts set the price of storage, and Sia is divisible, why design a coin that increases so exponentially? You could have 21 Mil Siacoins and storage would cost just fractions of a Siacoin. People have no incentive to hold Siacoins right now. Why would I pay for Siacoins right now when the supply will increase 4x in the next year. If anything, people are overpaying for Siacoins right now. Siafunds are the investment, because you are collecting Siacoins by doing nothing. Or am I wrong here?
The focus is definitely not on making siacoins valuable, but I have been using it as a bit of a yardstick, and I think other people have as well. I will point out that Sia's inflation curve is substantially softer than Bitcoin's during every point in the first 12 years. But it makes sense that the price would be suffering right now as the supply will be doubling again over the next 3 months. That does mean that siacoins are cheap, and newcomers can get a pretty substantially slice of the pie for only a single bitcoin. But I also think you are wrong about them being worthless overall. There is still a very strict long-term supply on the siacoin, and the price of siacoin has a hard floor based on how much people are using the storage. If people are doing $10,000,000 per month in storage over Sia, then depending on how they set up their contracts there will be a minimum market cap of between $50M and $250M for the siacoin, and that's assuming that people are essentially dumping siacoins as fast as possible. Such a market cap, even 5 years down the road, would put the price of siacoin substantially higher than where it is today. If you believe that Sia has the potential to hit this kind of throughput or more, then the siacoin looks like a very good investment in addition to the siafund. I don't think most traders are looking at it like that though. And, given that the supply is going to be doubling again in the next 3 months, I'm guessing it will be reasonable to see the price fall some more by Christmas. Though, I really do think that interest in the project is going to pick up in a big way before then, and that should be beneficial for the price even if people are afraid of the large inflation over the coming months. But, as many have been saying, the really important part here is to pay attention to the storage, pay attention to the number of users, and make sure that people are actually using the system. 0.4.1 will be ready soon, I think that will help. I am a bit split. A lot of people want me to finish the mining pool, but that's going to take me probably two weeks, and it's going to be two weeks that I'm not spending on storage features. Luke is going to be able to, very shortly, commit most/all of his time to storage features. Even if the price is getting hit hard, it's pretty clear to me that the Sia ecosystem as a whole is advancing. We've got a set of volunteer developers now! That's a huge deal, and it's support that we haven't had up until this point. Sia is moving in the right direction. As you said we should keep track of users numbers and storage amount to judge how the project is doing. How can find these figures? I believe in this project in the same way i believe in Getgems, it's not so much a coin but a business we are buying into really. Just like Getgems there is plenty of room in the market storJ and other others don't need to be in competition, the pie is very very big especially when you get the demand for secure cloud storage is and is going to be in the future....the current marketcap $100,000 is kind of ridiculous really. companies will want to use this kind of secure storage.....hard to see why this would fail. |
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Why is the price being hit so hard  People are running away from Sia like it's a toxic investment, I just don't get it. its two things. Some think Storj has already done this so it can look just like a copier, the fact that in may way SIA is first to market needs to be emphasized. But I think the major one is lack of clarity to what the total coins will be. I'm hearing 4 billion and then a continual 30,000 added. But tohers are quoting larger numbers. |
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Definitely this will be the invest of the year. Feel sorry for those miners who are dumping gold for two bucks. SIA will easily rise to +1M $ market cap in the next two-three months ONLY with rumors and speculation. If Taek keeps working hard (we all expect so), we could see SIA at +10M $ cap or more in just a year. It's not an investor irrational dream, these are facts. If SIA works like it has to be, we all will get filthy rich. Please Taek keep going with your good work and don't worry about the price. Smart investors are behind this and we are just accumulating at a minimum cost (thanks to some miners, of course). For those afraid investors: Look at mkt cap: 100K $.  Do you really think that this is the real value of SIA? What a joke! 1+M $ mkt cap in 2-3 months. Mark my words please.  You forgot to calculate the 250million sia mined per week.. Marketcap is Marketcap....doesn't matter if there is a bazillion coins, the total value is around $100,000 i.e. silly cheap. |
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I thought this developer had already been found to be a scammer, people should research his past threads on this forum. It's not pretty.
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Wallet #5 (bittrex) unloaded today. Managed to not dump down either. Congrats on the clean exit.
nice - still in redistrubtion / impatience phase.
Seems to me the price is still led by bittrex. Polo is just bot trading and some impulse buys.
I will keep watching bittrex. If I see a fat wallet pop up then unload this would support the miner dump theory. So far I've seen it 3 times in about a month so it's not that regular and could still be early adopters exiting.
How do you figure that? Polinex has 3x the vol. |
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Obviously John is talking about block halving. Will it be this week?
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Or probably these are big holders/miners selling little by little as soon as any substantial support appears. They don't want the price to fall too fast because they want to sell their coins at maximum price possible.
I think it would be insane for any pumper to make a move now when so many people want to sell at 100-200K.
The ones who really want to sell will put many smaller sell orders and over week or two he could sell substantial amount without hurting the market. This what you are saying is not what is happening here, definetly not... or sellers are realy stupid which I highly doubt. It very well could be miners. Not everyone who mines holds the all the coins they mine long term. If you are larger miner you may need to sell some amount on a regular basis to cover your expenses, mainly electrical costs. So even if you do mine and hold, you may need to sell 60-75% on a regular basis to offset mining costs. I have a few miners going at my house 24/7 and they add approximately $200/mo to my electric bill. I will sell approximately 1 BTC's worth at current rates each month, usually trying to spread it out to hit higher prices, just to offset my electricity costs. I still end up with a decent amount to hold onto longer term, without having to risk as much. Not impossible, and some miners really do just dump everything without much trading thought. But this is too stupid. Within a few minutes of a rise the dump comes, VNL looked like rising quite a bit but the setiment is cut down with an axe by these little instant dumps. |
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Maybe it's just common manipulation but there is some serious trading opposition to VNL on Polinex. Within a minute or two of any rise someone dumps prematurely. This isn't just taking profits or bag holders this is a serious effort to keep the rice down. Why? Maybe just to accumulate more but it could be more sinister, even interests like ETH wanting to kill competition? All I know is it's definitely there and people should take advantage of it and buy the crap out of the dumps. we need to get on another exchange with decent vol. The people selling had to buy before. I believe this is somewhat day-trading. This is good for the coins since it provide liquidity. VNL has rather good liquidity for a while, which is good for the coin (18th in trading volume in coinmarketcap for today, and it has done far better at times). Bullshit is that day trading. Day traders when they see a coin can easily move up they don't dump instantly on a rise. Ive never seen such aggressive dumping on a coin. The only reason you do that is to keep the price down, why? that's open for debate....simple accumulation by a whale is of course the most likeliest. The reasonably decent vol validates my point, no coin real low in marketcap is constant in the top 10 on polinex vol like VNL is. The price is static but coins are definetly being bought at a reasonable pace. Annoying as it is....this is only a good sign, keep buying if someone or group wants to play this game. When price starts to move up manipulator instantly make massive dump to his own buy orders and move buy support little lower in hope that with massive dump he will provoke panic sales. The thing is almost noone falls for that, and I can say that some of those guys could lose their sell wals because you cant hold this kind of coin on low level to long. Acummulation is one thing but this becomes vicious, and anyone saying this is healthy is on the same agenda as those manipulators. Well I hope you didn't think my comments made it seem like ai thought it was healthy. I'm just saying if this is the situation then capitalise on it. A plus if anyone is that desperate to hold the price down then they must see VNL as either a threat or want to accumulate cheap....this is still I think a good sign. I absolutely dont think it's healthy though which is why some posts back I suggested that the community pushs through these levels and buys...ie calling the manipulators bluff. |
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Maybe it's just common manipulation but there is some serious trading opposition to VNL on Polinex. Within a minute or two of any rise someone dumps prematurely. This isn't just taking profits or bag holders this is a serious effort to keep the rice down. Why? Maybe just to accumulate more but it could be more sinister, even interests like ETH wanting to kill competition? All I know is it's definitely there and people should take advantage of it and buy the crap out of the dumps. we need to get on another exchange with decent vol. The people selling had to buy before. I believe this is somewhat day-trading. This is good for the coins since it provide liquidity. VNL has rather good liquidity for a while, which is good for the coin (18th in trading volume in coinmarketcap for today, and it has done far better at times). Bullshit is that day trading. Day traders when they see a coin can easily move up they don't dump instantly on a rise. Ive never seen such aggressive dumping on a coin. The only reason you do that is to keep the price down, why? that's open for debate....simple accumulation by a whale is of course the most likeliest. The reasonably decent vol validates my point, no coin real low in marketcap is constant in the top 10 on polinex vol like VNL is. The price is static but coins are definetly being bought at a reasonable pace. Annoying as it is....this is only a good sign, keep buying if someone or group wants to play this game. |
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Maybe it's just common manipulation but there is some serious trading opposition to VNL on Polinex. Within a minute or two of any rise someone dumps prematurely. This isn't just taking profits or bag holders this is a serious effort to keep the rice down. Why? Maybe just to accumulate more but it could be more sinister, even interests like ETH wanting to kill competition? All I know is it's definitely there and people should take advantage of it and buy the crap out of the dumps. we need to get on another exchange with decent vol. |
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Anyone have any clue when this narrow trading range will end?
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all coins value is based on future potential....most of it unlikely to be realised. Sia actually makes that potential more likely and sooner than 95% of alt coins. I like coins with an inbuilt economy like this and Getgems. You really are buying stock in a start up.
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[Call to Arms] CryptoNight FPGA mining
TROLL detected.
Don't folow my mistake, don't feed the TROLL.
Zero tolerance....the best way by far to deal with trolls is to ignore them 100%. Anyone responding to them are as bad as trolls to a coin honestly. |
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can I mine by just opening the wallet and making available HD space?
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People always argue with me and tell me they don't need to induce momentum in a coin but I seriously recommend anyone who has a lot invested in SIA to at this very early light trade stage to chomp up the sell wall steadily to a more suitable level.
Some would call it a pump I would say everyone who believes in the coin should put there money where their mouth is and buy a bit not just sit on their hands waiting to dump their mined SIA. Otherwise you get a stagnant market that goes nowhere. You need to make clear to people interested in the coin that they CANT buy coins ever again under say 50 sats again.
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