[ANN] Sia - Decentralized Storage

[rabidri]

Thanks Hakkane for all your replies
I also have a question ! Uploaded files are encrypted and split, is this process done by the client ?

[attilafx]

Looking at the price of Siacoin it is pretty obvious that the devs have failed miserably.
So they can do whatever they want now but the common people and investors gave up on this coin.
proof me wrong, if this was a good project with reliable devs and future, then price wouldn't be down here.
So when faith is gone they can release and do whatever they want with their worthless coins because investors won't trust this project anymore.

[asdfqaz]

Sia really has failed. The first mistake was that you need to have atleast 2000 sia to sell your storage. That would have scared some people away. And people list it in one of the best coins to invest in.

[itsnasir]

I invested in SIA on June 18th when it was 0.018$, I invested 7 BTC which is worth now 1.75 BTC and I got 1M sia. I am just too disappointed in SIA that this coin has not been going up like all others even things they implemented like ASIC miners for next year, This was a utter failure on their end but once again I am a bag holder due to SIA and cannot sell unless I break even which I don't see anytime this year but u make mistakes and you learn from these mistakes. I learned it the hard way, Hope sia bring out something big or new which would increase its prices. I hoped to invest in SIA that if it ever touches 1$, I would have 1M$ in my pocket but 1$ seems impossible for this coin due to their current progress. SMH!

[attilafx]

I invested in SIA on June 18th when it was 0.018$, I invested 7 BTC which is worth now 1.75 BTC and I got 1M sia. I am just too disappointed in SIA that this coin has not been going up like all others even things they implemented like ASIC miners for next year, This was a utter failure on their end but once again I am a bag holder due to SIA and cannot sell unless I break even which I don't see anytime this year but u make mistakes and you learn from these mistakes. I learned it the hard way, Hope sia bring out something big or new which would increase its prices. I hoped to invest in SIA that if it ever touches 1$, I would have 1M$ in my pocket but 1$ seems impossible for this coin due to their current progress. SMH!

Sorry to be a D**khead or so but reality is that it was something new that had to prove it self. You probably chased the hype around this coin until reality hit and people realized that the devs can't deliver. If you are unexperienced trader learn this not to jump on board the first 6 to 12 months. Let the market decide what they think. it is not you nor me who will decide the price of Sia but the market. And now, if you look at the chart, every uptick is being met with more sellers. This means that the market doesn't give shit anymore about the devs of SIA. if they did you would have seen prices going up and not down. So basicly, the devs of SIA are working for nothing right now and have no future. Probably can go back to work and become wagecucks again. Not that I care since they don't care about the price neither. So let them proof us wrong but the odds are pretty much against them. Better buy some litecoin or ethereum classic or waves or whatever. Buy what the market supports. Not some faithless coins.

[Lucky7btc]

I invested in SIA on June 18th when it was 0.018$, I invested 7 BTC which is worth now 1.75 BTC and I got 1M sia. I am just too disappointed in SIA that this coin has not been going up like all others even things they implemented like ASIC miners for next year, This was a utter failure on their end but once again I am a bag holder due to SIA and cannot sell unless I break even which I don't see anytime this year but u make mistakes and you learn from these mistakes. I learned it the hard way, Hope sia bring out something big or new which would increase its prices. I hoped to invest in SIA that if it ever touches 1$, I would have 1M$ in my pocket but 1$ seems impossible for this coin due to their current progress. SMH!

I have an ocean front property in Arizona I'll sell you if you're interested for the remaining 1.75 btc and 1M sia.

[Hakkane]

Thanks Hakkane for all your replies
I also have a question ! Uploaded files are encrypted and split, is this process done by the client ?

My pleasure  to help

Yes, files are encrypted by the client using the Twofish algorithm (one of the most secure that exist) and the splitting and spreading of the file among 30 hosts is also carried out by the client using the Reed-Solomon algorithm.

Sia really has failed. The first mistake was that you need to have atleast 2000 sia to sell your storage. That would have scared some people away. And people list it in one of the best coins to invest in.

Those minimal 2000SC are called Collateral, and it a guarantee you offer that you will keep your promise of hosting the files during the whole contract. If you are a good host, you receive them back. If there was no collateral (and this is the concerning case of Filecoin or StorJ), hosts would drop the files they are hosting as soon as another HDD-mineable coin was more profitable than Sia, thus making the files unavailable. Do we want a shit-coin in that conditions? No, for that reason collateral exists. To be a host is not an experiment of a weekend, it is a compromise as you are hosting the files of other people, and that entry point of 2000SC is actually very low. Don't you really have $16 to offer (that will be returned if you are a good host)? Seriously??

Sia really has failed. The first mistake was that you need to have atleast 2000 sia to sell your storage. That would have scared some people away. And people list it in one of the best coins to invest in.

Sorry to be a D**khead or so but reality is that it was something new that had to prove it self. You probably chased the hype around this coin until reality hit and people realized that the devs can't deliver. If you are unexperienced trader learn this not to jump on board the first 6 to 12 months. Let the market decide what they think. it is not you nor me who will decide the price of Sia but the market. And now, if you look at the chart, every uptick is being met with more sellers. This means that the market doesn't give shit anymore about the devs of SIA. if they did you would have seen prices going up and not down. So basicly, the devs of SIA are working for nothing right now and have no future. Probably can go back to work and become wagecucks again. Not that I care since they don't care about the price neither. So let them proof us wrong but the odds are pretty much against them. Better buy some litecoin or ethereum classic or waves or whatever. Buy what the market supports. Not some faithless coins.

And what are devs not delivering, according to you? Sia is a working storage network currently offering 3.5 petabytes of storage among more than 700 hosts worldwide distributed. You have hosts at less than 50milliseconds of ping of every bigger city in the planet (which other storage provider can claim that?). File contracts are being formed every day and renters are uploading and downloading files. Take a look at the growth of file contracts:


(Source: https://blog.sia.tech/sia-may-august-2017-update-8929f21c56f7)

In a few months, reliability for renters will be revamped, file sharing and file streaming will be available and integration with many other services and apps will be enabled.

So what are they not delivering, according to you? What you might mean is that devs are not making you rich fast? Sorry buddy, but your investment decisions and their consequences are entirely your fault (or your success). Devs are not here to make you rich by you speculating with the price of a coin, devs are here to keep making a better product. And after what I have exposed it should be clear they are doing an incredible work in that sense.

[trgnn]

I'm new in to this community, at least as a registered user of this forum and I'm extremely surprised to see people coming on thread for just vomiting their short term views and disapointment. "This project is a failure, I lost all my bitcoin and so on".

Sia bring something I never saw before, and it's already working. It's just a question of communication now.

[unusualfacts30]

I'm new in to this community, at least as a registered user of this forum and I'm extremely surprised to see people coming on thread for just vomiting their short term views and disapointment. "This project is a failure, I lost all my bitcoin and so on".

Sia bring something I never saw before, and it's already working. It's just a question of communication now.

that is usual business in cryptoland. When people lose money, they blame it on altcoin instead of their bad judgement. I suspect they bought recently after price increase.

[jstern]

I was checking out the price for this, and it's very, very competitive with OneDrive, DropBox, etc. But what if the price fort he coin goes up? It could end up costing a lot more.

Sounds like a good coin to mine though.

[rabidri]

@jstern,
Few posts above, is your answer by Hakkane .

I have a question and maybe it's a bit silly, I don't know. As far as I've read, Siacoin is an interesting solution for storage because it's decentralized, encrypted and secure AND because it's cheap. But, if I'm right, it's cheap because Siacoin's price is low. So, if this coin skyrocket, wouldn't be a sort of marketing suicide ? The storage cost would explode and it'll be way more expensive than Amazon and others. But, again, maybe I'm wrong. I know some people are really concerned by the decentralized part, I'm also concerned about the price ^^

Hello. You are missing something very important: each host decides his own pricing. And as hosts are competing with Amazon and other services that charge in dollars, hosts change their pricing when the value of Sia changes to adjust to Dollar prices. Average pricing of hosts have been, and will be, around $1/Tb/month, no matter how dramatically the Sia price changes.

On summary: Storage market pricing and Siacoin market dynamics are totally independent

[Aby Normal]

If the coin price goes up it doesn't have to mean that hosting on SC would be more expensive than competition, just imagine if the number of hosts and users comes close to the level of Google + Amazon + Microsoft - then we would see increased demand for SC and a lot higher coin price ...
Right now we can't really know will it happen or not, but so far the devs did a pretty good job. I remember how the SC client worked when this coin was in early stage and the price was below 10sats, back then it was an adventure to try to set up a host even for pro IT folks like me, now it works like a charm.
With video streaming coming within next 6 months and the ability to share files outside the SC network somewhere by the end of next year I feel like this project has a bright future and the current price (below 200sats) is a steal.

[attilafx]

Thanks Hakkane for all your replies
I also have a question ! Uploaded files are encrypted and split, is this process done by the client ?

My pleasure  to help

Yes, files are encrypted by the client using the Twofish algorithm (one of the most secure that exist) and the splitting and spreading of the file among 30 hosts is also carried out by the client using the Reed-Solomon algorithm.

Sia really has failed. The first mistake was that you need to have atleast 2000 sia to sell your storage. That would have scared some people away. And people list it in one of the best coins to invest in.

Those minimal 2000SC are called Collateral, and it a guarantee you offer that you will keep your promise of hosting the files during the whole contract. If you are a good host, you receive them back. If there was no collateral (and this is the concerning case of Filecoin or StorJ), hosts would drop the files they are hosting as soon as another HDD-mineable coin was more profitable than Sia, thus making the files unavailable. Do we want a shit-coin in that conditions? No, for that reason collateral exists. To be a host is not an experiment of a weekend, it is a compromise as you are hosting the files of other people, and that entry point of 2000SC is actually very low. Don't you really have $16 to offer (that will be returned if you are a good host)? Seriously??

Sia really has failed. The first mistake was that you need to have atleast 2000 sia to sell your storage. That would have scared some people away. And people list it in one of the best coins to invest in.

Sorry to be a D**khead or so but reality is that it was something new that had to prove it self. You probably chased the hype around this coin until reality hit and people realized that the devs can't deliver. If you are unexperienced trader learn this not to jump on board the first 6 to 12 months. Let the market decide what they think. it is not you nor me who will decide the price of Sia but the market. And now, if you look at the chart, every uptick is being met with more sellers. This means that the market doesn't give shit anymore about the devs of SIA. if they did you would have seen prices going up and not down. So basicly, the devs of SIA are working for nothing right now and have no future. Probably can go back to work and become wagecucks again. Not that I care since they don't care about the price neither. So let them proof us wrong but the odds are pretty much against them. Better buy some litecoin or ethereum classic or waves or whatever. Buy what the market supports. Not some faithless coins.

And what are devs not delivering, according to you? Sia is a working storage network currently offering 3.5 petabytes of storage among more than 700 hosts worldwide distributed. You have hosts at less than 50milliseconds of ping of every bigger city in the planet (which other storage provider can claim that?). File contracts are being formed every day and renters are uploading and downloading files. Take a look at the growth of file contracts:

https://cdn-images-1.medium.com/max/800/1*lMm30bBkyor9BtnirI9h3w.png
(Source: https://blog.sia.tech/sia-may-august-2017-update-8929f21c56f7)

In a few months, reliability for renters will be revamped, file sharing and file streaming will be available and integration with many other services and apps will be enabled.

So what are they not delivering, according to you? What you might mean is that devs are not making you rich fast? Sorry buddy, but your investment decisions and their consequences are entirely your fault (or your success). Devs are not here to make you rich by you speculating with the price of a coin, devs are here to keep making a better product. And after what I have exposed it should be clear they are doing an incredible work in that sense.

Well like I said, it's not me who decides but the market and let's be honest charts never lie looking at the price. Just saying.

[MrSunshine]

I invested in SIA on June 18th when it was 0.018$, I invested 7 BTC which is worth now 1.75 BTC and I got 1M sia. I am just too disappointed in SIA that this coin has not been going up like all others even things they implemented like ASIC miners for next year, This was a utter failure on their end but once again I am a bag holder due to SIA and cannot sell unless I break even which I don't see anytime this year but u make mistakes and you learn from these mistakes. I learned it the hard way, Hope sia bring out something big or new which would increase its prices. I hoped to invest in SIA that if it ever touches 1$, I would have 1M$ in my pocket but 1$ seems impossible for this coin due to their current progress. SMH!

That was near all time highs. I was telling my friends at that time to stay away from crypto as it got to far ahead of itself with prices. It was clear to me it was in a minor bubble. Also if you calculate your losses in USD they would not be as dramatic as compared to BTC as BTC has quite a run of late. In USD terms I think SIA is about 55% off it's ATH.

[GaPR]

I would in your place has preserved its SC, perhaps you will be satisfied. Find SC on Poloniex and Bittrex, had already said in favor of this coin.

[z0n0]

So if I understood right: the pricing is about 1$/1TB per month?
Isn't that way to low for regular normal people?

If you look, how many TB do most of regulars have in their system? Probably 1 or 2 TB HDD.
I don't see how this project can be used for small normal people (like myself), I see it only as only big HDD farms can benefit from it.

[MrSunshine]

So if I understood right: the pricing is about 1$/1TB per month?
Isn't that way to low for regular normal people?

If you look, how many TB do most of regulars have in their system? Probably 1 or 2 TB HDD.
I don't see how this project can be used for small normal people (like myself), I see it only as only big HDD farms can benefit from it.

Normal people benefit because of the lower prices. You can use Sia and pay $2/month and have better privacy, redundancy, with out worrying about some centralized owner changing the rules on you.

Or you could pay a big cloud provider $10/month, worry about them peaking in your files and worry about them cancelling or reducing the service on a whim.

I hope it is clear now how normal people could benefit.

[z0n0]

So if I understood right: the pricing is about 1$/1TB per month?
Isn't that way to low for regular normal people?

If you look, how many TB do most of regulars have in their system? Probably 1 or 2 TB HDD.
I don't see how this project can be used for small normal people (like myself), I see it only as only big HDD farms can benefit from it.

Normal people benefit because of the lower prices. You can use Sia and pay $2/month and have better privacy, redundancy, with out worrying about some centralized owner changing the rules on you.

Or you could pay a big cloud provider $10/month, worry about them peaking in your files and worry about them cancelling or reducing the service on a whim.

I hope it is clear now how normal people could benefit.

Yes, thank you.

[BillCoin]

SiaCoin is slowly recovering it's price as digibyte skyrockets and increases its value in about 50% less then one week.

What do you guys think about what siacoin price is going to be in the next few days?
As a holder I expect atleast a 20% increase to the rate of 250 sat/sc , it would be great!

[smokiebean]

shit coin..