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Author Topic: [ANN] Sia - Decentralized Storage  (Read 1342709 times)
MrSunshine
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August 15, 2017, 05:41:19 PM
 #5581

While I'm glad to see it clawing its way back from the brink of nothing but a landslide ever since I put money in what could be the reason for the small uptrend just now? After reading a bunch of information about how fees and prices need to he kept as low as possible how can something like sia ever reach something like the $1 stage? (If ever etc)

Sure, but not for a few years. If they become the go to cloud storage provider at 1$/coin there valuation would be ~28 Billion+, which is must less the valuation of many tech companies in terms of stock market valuation.
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August 15, 2017, 09:54:00 PM
 #5582

For normal home users with expensive internet connection and not being able to run 24/7 this is the worst possible way of earning, I know that we

Can set our own desirable rates of payment but what happens when a large storage provider with very cheap internet and electricity beats us to the

Competition? according to the current calculations if I host files I'd be paying from my pocket but for what, so other people could have access to

Decentralized cloud storage? some company like google, they are paying %5 of what I'm paying for internet+electricity+hardware and that's why

They are the best cloud storage provider, if it's about the decentralization then people like me will never have the chance to take any part in this.

If I download or upload 1TB of data over my internet connection, I'll have to pay $0.25 for every gigabyte, that means 1TB=$250 so if I host files

On sia will I earn at least $300 for 1TB? I didn't even mention the electricity cost.
In the silence
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August 15, 2017, 09:58:43 PM
 #5583

Its value is very low compared the online storage we already have, ranked 29 in https://coinmarketcap.com/currencies/siacoin/
$2 is the fit value for this coin.

Rent this.
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August 16, 2017, 12:54:04 AM
 #5584

For normal home users with expensive internet connection and not being able to run 24/7 this is the worst possible way of earning, I know that we

Can set our own desirable rates of payment but what happens when a large storage provider with very cheap internet and electricity beats us to the

Competition? according to the current calculations if I host files I'd be paying from my pocket but for what, so other people could have access to

Decentralized cloud storage? some company like google, they are paying %5 of what I'm paying for internet+electricity+hardware and that's why

They are the best cloud storage provider, if it's about the decentralization then people like me will never have the chance to take any part in this.

If I download or upload 1TB of data over my internet connection, I'll have to pay $0.25 for every gigabyte, that means 1TB=$250 so if I host files

On sia will I earn at least $300 for 1TB? I didn't even mention the electricity cost.

Hello. If you want to be a host, clearly there are some requirements, and the most clear one is having unlimited, non-metered internet connection. It is not universally available, but it is very normal to have unlimited connections in several countries. The other requirement is having your host online 24/7, so you need a dedicated machine (server or not), the same as with mining.

If you meet these two points, you can start hosting and you'll have the same opportunities as any "big farmer" hosting, as long as you setup a cheap pricing. The key is accessing to cheap HDDs, and those are not difficult to buy for less than $20/Tb. If you set up a pricing of $1-2/Tb/month, you make ROI in 1-2 years. In opposition to mining, there is not a "difficulty" parameter that gives you less profit as more people get into the business: as long as you are among the top hosts in scoring, you get contracts.

Electricity costs for hosting are irrelevant. An optimized server will use less than 50W. HDDs of low disks speed consume 2-3W.

Overall, hosting is not for everybody, but on certain conditions it can be profitable.

And of course, being average prices about $2-3/Tb/month, Sia is 10x cheaper than Amazon Storage, so naturally we will get their part of the pie of cloud storage. Not to mention the rest of advantages compared to them like encryption and decentralization...
Big Naturals
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August 16, 2017, 02:42:01 AM
 #5585

Statement from the Team:

https://www.reddit.com/r/siacoin/comments/6tmx0r/why_is_sia_important/?utm_content=title&utm_medium=hot&utm_source=reddit&utm_name=siacoin

Now this is what I'm talking about! Smiley

A powerful statement, that lifts your spirit up and addresses many concerns, and gives us an image of what could be... 70 to 90% of the cloud storage market!

I am really thankful they released that statement today.


For people who don't follow links,

Quote

We're seeing a pattern that we've seen before. Sia hits some high point in the price, then people start to sell off and the price begins to fall. People get frustrated at their falling investment and start pointing at all of Sia's deficiencies and saying why it can't succeed, why it won't succeed, why the dev team is insufficient and incompetent.

Last year Sia pumped from about 3 satoshis to about 180 satoshis. Then it fell to 28. The whole way down, people were upset, and missing the bigger picture. They would talk about the user experience. They would talk about how you could only upload like 5 GB to the platform. They would talk about the giants and how nobody would ever be interested in using Sia when you could only store 5 GB on it. They would complain that Sia doesn't do any marketing. They would complain that Sia didn't have any money. They would accuse the devs of price manipulation.

I had many people private message me below the price of 40 satoshis in late 2016 and early 2017 saying they just didn't believe that the fundamentals made sense. They said they really like the project but don't see how it could be successful, so they were selling what little they had remaining and leaving. These people sold millions of coins for under a thousand dollars.

Everyone today is missing the point. Everyone is focused on trivial things like a 30% inflation rate. Like a competitor that just raised $230 million despite having no working code and a whitepaper that is incomplete and that betrays a poor understanding of blockchain technology.

Sia is going to change the face of cloud storage. That's a $20 billion market, and it's projected to become a $200 billion market. Sia is not some niche either, it's a full upgrade to how cloud storage works. We aren't aiming at 1%, we are aiming at 70-90% market share, because the core technology is that good.

Today, most Internet infrastructure is owned by a small number of companies. When you put your data in the cloud, you give up control. They can choose to delete your data, they can choose to hold your data hostage, they can change their terms of service on you. These are not uncommon situations either. Here's a story about photobucket requesting ransom prices from Ebay and Amazon. About a month ago, atlassian.com announced massive price increases for their platform, which left many people out to dry. Several months ago, Amazon pulled the unlimited tier from their Amazon Cloud Drive, giving users 180 days to download the data and find a new home.

When you put your data in the cloud, you give it to someone else. The traditional cloud is controlled by humans. There can be downtime, terms changes, price changes, companies can go under (like Soundcloud). We have built a fragile internet that puts the power in the hands of a few.

Sia changes that equation. Sia allows people to use the cloud without giving up control. This is a feature that resonates deeply with IT admins. The majority of IT admins will agree that they don't like using the Cloud, and that they would rather use another option if they could, except that the cloud offers so many advantages that they are willing to accept the loss of control of their data. Sia changes this equation. IT admins can have all the benefits of the cloud, without giving up control. It's a big step forward, and it's the core reason for blockchains existing in the first place.

The advantages don't stop there. Sia is cheaper, faster, more reliable, more secure, and has better uptime than the traditional cloud. The software today is not fully able to realize these benefits, but that's no fault of the protocol. The protocol itself is the foundation for a superior cloud platform, even if you don't care about trust. Sia is a full fledged CDN, with storage points in over 50 countries and on all 6 continents. Amazon can't claim numbers like those. Sia has hosts within 50 milliseconds of every major city in the world. Amazon can't claim that either. If you want low-latency storage to every city in the world (useful if you are YouTube, Netflix, Imgur, etc.), Sia is the best technology to use. The world's leading CDN (Akamai) charges >$50/TB. Sia charges $0.50, and that's a sustainable price.

The community has fallen into a mental trap that we see every time the price is declining. We see it with Bitcoin too. As the price goes down, people only ask themselves "what are the ways this project can fail?". I can promise you, Sia has a much better chance of success than 90% of the cryptocurrencies with a higher market cap. The projects technological fundamentals are exceptional, and an outlier in the space. Not only that, we've actually shipped a working product, and it's actually decentralized. Every 3 months has seen a release that marks a major step forward in usability and functionality.

The overwhelming din of pessimism of the past three months needs to stop. We are on a mission, and we are going to complete it. The community can't function when every other post is about how Sia is a waste of time. If you believe that, stop wasting your time and leave. The true community of Sia does believe in the project, because they know how serious the potential is. Sia is a revolutionary technology, and it's far, far ahead of everything that's trying to compete with it.

Thank you.
Pajulapoiss
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August 16, 2017, 03:40:24 AM
 #5586

Statement from the Team:

https://www.reddit.com/r/siacoin/comments/6tmx0r/why_is_sia_important/?utm_content=title&utm_medium=hot&utm_source=reddit&utm_name=siacoin

Now this is what I'm talking about! Smiley

A powerful statement, that lifts your spirit up and addresses many concerns, and gives us an image of what could be... 70 to 90% of the cloud storage market!

I am really thankful they released that statement today.


For people who don't follow links,

Quote

We're seeing a pattern that we've seen before. Sia hits some high point in the price, then people start to sell off and the price begins to fall. People get frustrated at their falling investment and start pointing at all of Sia's deficiencies and saying why it can't succeed, why it won't succeed, why the dev team is insufficient and incompetent.

Last year Sia pumped from about 3 satoshis to about 180 satoshis. Then it fell to 28. The whole way down, people were upset, and missing the bigger picture. They would talk about the user experience. They would talk about how you could only upload like 5 GB to the platform. They would talk about the giants and how nobody would ever be interested in using Sia when you could only store 5 GB on it. They would complain that Sia doesn't do any marketing. They would complain that Sia didn't have any money. They would accuse the devs of price manipulation.

I had many people private message me below the price of 40 satoshis in late 2016 and early 2017 saying they just didn't believe that the fundamentals made sense. They said they really like the project but don't see how it could be successful, so they were selling what little they had remaining and leaving. These people sold millions of coins for under a thousand dollars.

Everyone today is missing the point. Everyone is focused on trivial things like a 30% inflation rate. Like a competitor that just raised $230 million despite having no working code and a whitepaper that is incomplete and that betrays a poor understanding of blockchain technology.

Sia is going to change the face of cloud storage. That's a $20 billion market, and it's projected to become a $200 billion market. Sia is not some niche either, it's a full upgrade to how cloud storage works. We aren't aiming at 1%, we are aiming at 70-90% market share, because the core technology is that good.

Today, most Internet infrastructure is owned by a small number of companies. When you put your data in the cloud, you give up control. They can choose to delete your data, they can choose to hold your data hostage, they can change their terms of service on you. These are not uncommon situations either. Here's a story about photobucket requesting ransom prices from Ebay and Amazon. About a month ago, atlassian.com announced massive price increases for their platform, which left many people out to dry. Several months ago, Amazon pulled the unlimited tier from their Amazon Cloud Drive, giving users 180 days to download the data and find a new home.

When you put your data in the cloud, you give it to someone else. The traditional cloud is controlled by humans. There can be downtime, terms changes, price changes, companies can go under (like Soundcloud). We have built a fragile internet that puts the power in the hands of a few.

Sia changes that equation. Sia allows people to use the cloud without giving up control. This is a feature that resonates deeply with IT admins. The majority of IT admins will agree that they don't like using the Cloud, and that they would rather use another option if they could, except that the cloud offers so many advantages that they are willing to accept the loss of control of their data. Sia changes this equation. IT admins can have all the benefits of the cloud, without giving up control. It's a big step forward, and it's the core reason for blockchains existing in the first place.

The advantages don't stop there. Sia is cheaper, faster, more reliable, more secure, and has better uptime than the traditional cloud. The software today is not fully able to realize these benefits, but that's no fault of the protocol. The protocol itself is the foundation for a superior cloud platform, even if you don't care about trust. Sia is a full fledged CDN, with storage points in over 50 countries and on all 6 continents. Amazon can't claim numbers like those. Sia has hosts within 50 milliseconds of every major city in the world. Amazon can't claim that either. If you want low-latency storage to every city in the world (useful if you are YouTube, Netflix, Imgur, etc.), Sia is the best technology to use. The world's leading CDN (Akamai) charges >$50/TB. Sia charges $0.50, and that's a sustainable price.

The community has fallen into a mental trap that we see every time the price is declining. We see it with Bitcoin too. As the price goes down, people only ask themselves "what are the ways this project can fail?". I can promise you, Sia has a much better chance of success than 90% of the cryptocurrencies with a higher market cap. The projects technological fundamentals are exceptional, and an outlier in the space. Not only that, we've actually shipped a working product, and it's actually decentralized. Every 3 months has seen a release that marks a major step forward in usability and functionality.

The overwhelming din of pessimism of the past three months needs to stop. We are on a mission, and we are going to complete it. The community can't function when every other post is about how Sia is a waste of time. If you believe that, stop wasting your time and leave. The true community of Sia does believe in the project, because they know how serious the potential is. Sia is a revolutionary technology, and it's far, far ahead of everything that's trying to compete with it.

Thank you.

Good stuff mate, thanks for the quote!
 It's pretty usual people who are trying to make a quick buck will get frustrated after when they see that their losing money instead. So the do the stupid thing and sell with a loss, and try to jump on to the next rocket, which has already increased in value, then they buy in high again, and the same circle go on. "daytraders" maybe? They do several trades a day always losing money.

Use ur money to invest! Once u buy something stick with it, and try not to buy crap!

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narrrf
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August 16, 2017, 03:40:37 PM
 #5587


Thanks for sharing this!

I am a fan and want to BUY and HOLD as much as i can - in this type a portfolio I have SIA.

Thanks for all the cheap COINS out there HEHEHE

best greetz from austria
tintumon
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August 17, 2017, 01:51:22 AM
 #5588


Thanks for sharing this!

I am a fan and want to BUY and HOLD as much as i can - in this type a portfolio I have SIA.

Thanks for all the cheap COINS out there HEHEHE

best greetz from austria
I am also accumulating at these prices. I am sure SIA will bounce back to its old glory days once BTC is settled.
Mergesort
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August 17, 2017, 02:42:05 AM
 #5589

Nobody is going to instantly make decentralized cloudstorage happen. This will take time and everyone should consider it a long time investment Roll Eyes
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August 17, 2017, 03:27:50 AM
 #5590

Poloniex really needs to get their crap together. Been waiting on a withdrawal for almost a month now.  Huh
vankinhluan
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August 17, 2017, 03:50:52 AM
 #5591

This coin dump very deep, I hold it since its price is 500 sats...

Blockchain for Apps | Blockchain for Business | Blockchain for Future
Pajulapoiss
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August 17, 2017, 04:10:26 AM
 #5592

This coin dump very deep, I hold it since its price is 500 sats...


Whatever u do, don't sell with a loss, be patient, don't panic. The price will go back up, there so much potential for this project in the future, it will be huge when mainstream adoption starts.

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August 17, 2017, 04:22:16 AM
 #5593

Love this project, gets better every day

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August 17, 2017, 06:38:03 AM
 #5594

"Each time that you make a new contract, you have to put coins into the contract that can be taken away from you if you are a bad host."

What does "bad host" mean?

Thank you, a great project here!  Grin

Do to others whatever you would like them to do to you Smiley
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August 17, 2017, 06:52:34 AM
 #5595

"Each time that you make a new contract, you have to put coins into the contract that can be taken away from you if you are a bad host."

What does "bad host" mean?

Thank you, a great project here!  Grin

You can find a lot of information on the Wiki: https://siawiki.tech/
About hosts: https://siawiki.tech/host/hosting
About contracts: https://siawiki.tech/about/introduction_to_file_contracts
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August 17, 2017, 06:59:58 AM
 #5596

Why is developers not doing anything to stabilize the price? Did they abandon the project completely?
And how do I get myself a hold ofa SiaFund?
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August 17, 2017, 07:22:17 AM
Last edit: September 04, 2017, 10:09:51 PM by Iris Linus
 #5597

I STILL hold a LOT of SIA but I am really LOSING my hope.

how about you friends?

I will sell it all today
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August 17, 2017, 08:05:22 AM
 #5598

Why is developers not doing anything to stabilize the price? Did they abandon the project completely?
And how do I get myself a hold ofa SiaFund?

Developers doesn't need to do anything to "stabilize the price" , the market decides it and it mainly dropping now because of the rise of the bitcoin, I guess that once the bitcoin stabilize itself alts will start getting back to their tops.

Anyway, I don't agree with you that the Sia team needs to release any message in order to make the price higher..
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August 17, 2017, 09:53:11 AM
 #5599

Why is developers not doing anything to stabilize the price? Did they abandon the project completely?
And how do I get myself a hold ofa SiaFund?

How exactly can developers help the price? The supply of Sia is huge, so there is no way several people can manipulate it. Moreover, developers work on the tech side of the project and I hope they continue to do so.

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August 17, 2017, 10:48:07 AM
 #5600

I STILL hold a LOT of SIA but I am really LOSING my hope.

how about you friends?

I will sell it all today and put it in Decentraland ICO.

No, I am a long term investor, but if you are impatient and can't wait years, please sell. The sooner we get out the weak hands the better.
Taking over cloud storage is a long game.
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