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Author Topic: [ANN] Sia - Decentralized Storage  (Read 1337614 times)
Bgjjj2016
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July 13, 2016, 08:35:48 AM
 #3601

Is the rise of Sia over? I think this was only a pumped because there was no huge good news after the price went up. Or maybe we still haven't seen the best part yet?

The SIA was mined previously mainly by users, now, it is mined by the professional miners. So there will be dumps.

So does it mean that SIA will be very much the same like bitcoin? Will the professional miners also become a cartel and have power over the SIA core developers and bypass the community? I hope it's not so.
Is there a limit to the number of Sia coins that will be mined or this is limitless ? Thank you !

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AizenSou
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July 13, 2016, 09:44:51 AM
 #3602



You guys are getting this wrong ...

Claymore miner makes the SIAcoins spread to more users.
This is GOOD.

Its no "big mining farm" but a ton of users, yes, some have many rigs and much power.

But for the COIN, claymore is good.
The rise of difficulty is also good for THE COIN.

Yes, it must suck for u guys who basicly mined this coin "alone" on low diff and got huge rewards(also enables big dumps).
Now its spread among a ton of users with 1 - 50 gpus.



Ton of users? The biggest guy on pool has a few hundred GPUs. How could it be good for the coin when big farms practically get it for free (or very cheap since it's dualmining) ?
Sia and Decred will be a dumpfest and the only way for it is to go down if it continues like this. Look at Decred, it could never go up again. Sia made some nice growths but i doubt that it could continue like this.
Dualminer is a plague, IMHO.

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July 13, 2016, 09:52:11 AM
Last edit: July 13, 2016, 10:15:04 AM by xurious
 #3603

Is the rise of Sia over? I think this was only a pumped because there was no huge good news after the price went up. Or maybe we still haven't seen the best part yet?

The SIA was mined previously mainly by users, now, it is mined by the professional miners. So there will be dumps.

So does it mean that SIA will be very much the same like bitcoin? Will the professional miners also become a cartel and have power over the SIA core developers and bypass the community? I hope it's not so.
Is there a limit to the number of Sia coins that will be mined or this is limitless ? Thank you !

No, it is limitless.

The block reward drops by 1 each block(Current reward is about 240,000.) Once block 270,000 hits, the reward won't drop below 30,000. So sia is slightly inflationary.

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d57heinz
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July 13, 2016, 12:26:32 PM
Last edit: July 13, 2016, 01:11:32 PM by d57heinz
 #3604



You guys are getting this wrong ...

Claymore miner makes the SIAcoins spread to more users.
This is GOOD.

Its no "big mining farm" but a ton of users, yes, some have many rigs and much power.

But for the COIN, claymore is good.
The rise of difficulty is also good for THE COIN.

Yes, it must suck for u guys who basicly mined this coin "alone" on low diff and got huge rewards(also enables big dumps).
Now its spread among a ton of users with 1 - 50 gpus.



Ton of users? The biggest guy on pool has a few hundred GPUs. How could it be good for the coin when big farms practically get it for free (or very cheap since it's dualmining) ?
Sia and Decred will be a dumpfest and the only way for it is to go down if it continues like this. Look at Decred, it could never go up again. Sia made some nice growths but i doubt that it could continue like this.
Dualminer is a plague, IMHO.



What killed this coin was not dual miner. What killed this coin along with every other coin is pools!  Most of these large farms won't run nodes and solo mine. Why is that.  Well because these huge farms are the same people that run the pools.  So not only are they greedy with the huge farms and try to hide their size with a pool.   also charging fees used to grow their farms..  The idea of decentralization when all this hardware is in the wild along with unequal prices on resources leads all coins to one inevitable ending.  If you can find one block a day or every other day I feel that is sufficient enough to be on solo.  Sad to see this coin take such a beating because I think the concept is great although I can't seem to figure out the wallet and file sharing.  Keeps telling me not enough hosts when I try to purchase space. And I have no clue what going price is. Keeping an eye on this

Best Regards
D57heinz

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July 13, 2016, 12:51:43 PM
 #3605



You guys are getting this wrong ...

Claymore miner makes the SIAcoins spread to more users.
This is GOOD.

Its no "big mining farm" but a ton of users, yes, some have many rigs and much power.

But for the COIN, claymore is good.
The rise of difficulty is also good for THE COIN.

Yes, it must suck for u guys who basicly mined this coin "alone" on low diff and got huge rewards(also enables big dumps).
Now its spread among a ton of users with 1 - 50 gpus.



Ton of users? The biggest guy on pool has a few hundred GPUs. How could it be good for the coin when big farms practically get it for free (or very cheap since it's dualmining) ?
Sia and Decred will be a dumpfest and the only way for it is to go down if it continues like this. Look at Decred, it could never go up again. Sia made some nice growths but i doubt that it could continue like this.
Dualminer is a plague, IMHO.



What killed this coin was not dual miner. What killed this coin along with every other coin is pools!  Most of these large farms won't run nodes and solo mine. Why is that.  Well because these huge farms are the same people that run the pools.  So not only are they greedy with the huge farms and try to hide their size with a pool.   not to mention the fees used to grow their farms..  The idea of decentralization when all this hardware is in the wild along with unequal prices on resources leads all coins to one inevitable ending.  If you can find one block a day or every other day I feel that is sufficient enough to be on solo.  Sad to see this coin take such a beating because I think the concept is great although I can't seem to figure out the wallet and file sharing.  Keeps telling me not enough hosts when I try to purchase space. And I have no clue what going price is. Keeping an eye on this

Best Regards
D57heinz

Pools enabled anyone who didn't have enough hashing power to find blocks in a reasonable amount of time, to finally start mining and adding their hashing power to the network. Before that it was futile. However "If you can find one block a day or every other day I feel that is sufficient enough to be on solo." wasn't feasible with a lot of people.

In testing we had people joining with 100-200GH at a crack. How do you think a person who had only 1GH was going to compare to operations of this size? Once the pool went live, we had someone connect with 600GH. The large operations were there either way, a pool simply exposes them.

File sharing is currently broken IIRC.

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July 13, 2016, 01:37:46 PM
 #3606

It seems to me that only bots are sustaining Sia from the hit of the bottom. Sadly, I thought that Sia could do better on market but a few pumps and dumps are very bad things for this coin. It can really crash if BTC goes up strongly.

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July 13, 2016, 01:45:00 PM
 #3607

Pools enabled anyone who didn't have enough hashing power to find blocks in a reasonable amount of time, to finally start mining and adding their hashing power to the network. Before that it was futile. However "If you can find one block a day or every other day I feel that is sufficient enough to be on solo." wasn't feasible with a lot of people.

In testing we had people joining with 100-200GH at a crack. How do you think a person who had only 1GH was going to compare to operations of this size? Once the pool went live, we had someone connect with 600GH. The large operations were there either way, a pool simply exposes them.

The network hashrate roughly doubling in the past week would seem to belie your statement to some degree.

The increased sell pressure on the exchanges over the same period also seems evident.

I'm not saying it's bad. Most coins must go through this phase. Most coins have pools. It's just a shame it opens the project up to pro miners who exist only to suck as much value from a coin as possible and take it for themselves. With Sia being a fledgling market, and dual mining almost asking for Sia to be used for "bonus profit taking", it is temporarily retracing the price a bit. But it could turn around at any time, and I would be surprised if the price isn't looking quite a bit better in a month or three.
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July 13, 2016, 04:05:38 PM
 #3608

Found this in Claymore software... not sure what to think  Huh



https://www.microsoft.com/security/portal/threat/encyclopedia/entry.aspx?name=Trojan%3aWin32%2fSkeeyah.A!bit&threatid=2147695505&enterprise=0

ok, I am using software for dual mining Exp/Sia, (the newer release) but this makes me nervous... perhaps no worries..... its been removed now, but? just an FYI

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July 13, 2016, 04:53:38 PM
 #3609

Pools enabled anyone who didn't have enough hashing power to find blocks in a reasonable amount of time, to finally start mining and adding their hashing power to the network. Before that it was futile. However "If you can find one block a day or every other day I feel that is sufficient enough to be on solo." wasn't feasible with a lot of people.

In testing we had people joining with 100-200GH at a crack. How do you think a person who had only 1GH was going to compare to operations of this size? Once the pool went live, we had someone connect with 600GH. The large operations were there either way, a pool simply exposes them.

The network hashrate roughly doubling in the past week would seem to belie your statement to some degree.

The increased sell pressure on the exchanges over the same period also seems evident.

I'm not saying it's bad. Most coins must go through this phase. Most coins have pools. It's just a shame it opens the project up to pro miners who exist only to suck as much value from a coin as possible and take it for themselves. With Sia being a fledgling market, and dual mining almost asking for Sia to be used for "bonus profit taking", it is temporarily retracing the price a bit. But it could turn around at any time, and I would be surprised if the price isn't looking quite a bit better in a month or three.

As mentioned earlier... claymores miner is a good thing. It spreads the coins over bigger number of users than the few miners taking ALL earlier.
Yes, it must suck to be one of those who got huge rewards(and dumps) to now share with many others.

Id rather see 100 small dumps than 1 big one.

Sia's slow diff adjustment opened it for abuse. The diff should gone up immediately and not let the big hashrates get huge rewards for overpower.

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July 13, 2016, 07:01:49 PM
 #3610

Ok, so for the non-techy among us, for how much longer will anyone buying SC face the risk of massive miner dumps?
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July 13, 2016, 08:17:00 PM
 #3611

Ok, so for the non-techy among us, for how much longer will anyone buying SC face the risk of massive miner dumps?

I think the dumping is happening right now. You can see the price of the Siacoin is drop at the moment.
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July 13, 2016, 10:48:17 PM
 #3612

Ok, so for the non-techy among us, for how much longer will anyone buying SC face the risk of massive miner dumps?

I think the dumping is happening right now. You can see the price of the Siacoin is drop at the moment.


I dont know SIA well, but u guys seem to panic easily.

Im sure some the sia-guys can confirm that 95% or more off the coins out now were mined BEFORE claymore.

And.. therefore belong in "fewer" wallets than if 1000 miners would share the same payout.


AND there is where u'r dump fear should be rooted.
There are probably some big bagholders here... and that is not due to the new claymore miner.




On the other hand... SIA has gotten GREAT attention from this.
Check the claymore thread.. Its a big thread with many readers.
And every one of them now know of SIA.

How do you determine the value of that level of exposure?
Free promotion ftw.

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July 14, 2016, 01:49:26 AM
 #3613

Ok, so for the non-techy among us, for how much longer will anyone buying SC face the risk of massive miner dumps?

Every coin which involves mining faces the risk of massive miner dumps.

But the Sia dumping seems to have slowed over the past 24hrs, probably in response to the latest upward difficulty adjustments, and the lower price (that makes it less attractive or unprofitable for miners to sell at current prices).

But it remains to be seen how Sia's difficulty adjustment method will perform going forward. Hopefully a market equilibrium will be reached where sell pressure from the miners is balanced enough to not bully the market.
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July 14, 2016, 05:12:59 AM
 #3614

Is the rise of Sia over? I think this was only a pumped because there was no huge good news after the price went up. Or maybe we still haven't seen the best part yet?

The SIA was mined previously mainly by users, now, it is mined by the professional miners. So there will be dumps.

So does it mean that SIA will be very much the same like bitcoin? Will the professional miners also become a cartel and have power over the SIA core developers and bypass the community? I hope it's not so.
Is there a limit to the number of Sia coins that will be mined or this is limitless ? Thank you !

No, it is limitless.

The block reward drops by 1 each block(Current reward is about 240,000.) Once block 270,000 hits, the reward won't drop below 30,000. So sia is slightly inflationary.

This is an interesting direction that the SIA developers took. But what is the main reason that they made the SIA slightly inflationary instead of having a cap in total possible coins?

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July 14, 2016, 07:44:57 AM
 #3615

Who set up these massive miner pools to dump SIA - are the devs involved?
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July 14, 2016, 08:19:32 AM
 #3616

Who set up these massive miner pools to dump SIA - are the devs involved?

It was only a temporary issue until the difficulty adjusted. Should be fine now. Next month will tell.
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July 14, 2016, 08:32:12 AM
 #3617

Sia mining calc - http://sia-calc.cryptohub.info/
All data updates automatically
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July 14, 2016, 11:16:32 AM
 #3618

Who set up these massive miner pools to dump SIA - are the devs involved?

Read my previous post a cpl above urs

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July 14, 2016, 07:47:41 PM
 #3619

Who set up these massive miner pools to dump SIA - are the devs involved?

Read my previous post a cpl above urs

You've got it right, frostminer.  Reading through this thread, a lot of people scare very easily I guess.  I mean, the coin is still BETA!  Some extra hashpower added to the network isn't a bad thing for the coin.  Yes, individual profits may be lower, but the coin itself is just fine.

I can't help but roll my eyes when people panic and start shouting "this coin is dead", when it hasn't even gotten out of beta.  Maybe because I'm a developer and work in software, but I really don't think people understand that development is an iterative process.  Things are constantly being worked on and updated. Be happy you have a GUI wallet and as much functionality as there is....

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July 14, 2016, 07:52:41 PM
 #3620

Who set up these massive miner pools to dump SIA - are the devs involved?

Read my previous post a cpl above urs

You've got it right, frostminer.  Reading through this thread, a lot of people scare very easily I guess.  I mean, the coin is still BETA!  Some extra hashpower added to the network isn't a bad thing for the coin.  Yes, individual profits may be lower, but the coin itself is just fine.

I can't help but roll my eyes when people panic and start shouting "this coin is dead", when it hasn't even gotten out of beta.  Maybe because I'm a developer and work in software, but I really don't think people understand that development is an iterative process.  Things are constantly being worked on and updated. Be happy you have a GUI wallet and as much functionality as there is....

SIA has one really great thing going for it, if finished.

Decentralized storage has many real life applications.
The potential here is mindblowingly huge.


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