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Author Topic: [ANN] Sia - Decentralized Storage  (Read 1342375 times)
MrSunshine
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August 31, 2017, 09:52:10 PM
 #5761

I'd wait for breaking 200 SAT for a confirmation. ATM I'm swing-trading half of it for a short-term profit.

200 sat is nothing. just wait for few more weeks.
we will enter into 4 digits..
this is most undervalued coin compare to competitors

You're seriously delusional if you have hopes for an above 500 sats sia.

I see you invested and hope for a pump, but this is simply not going to happen.

The Sia ATH is like 850 sats back on June 20th, so it certainly could happen again. It certainly got ahead of itself, and I would prefer a slow steady rise.
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cico76
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August 31, 2017, 10:10:56 PM
 #5762

Coin supply is huge and it's inflationary. Furthermore many chinese host are selling hd space very low creating low coin value. They should add more feature or cloak system to create anonimous transactions.
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August 31, 2017, 10:36:52 PM
 #5763

i am still hodl my siacoin.
There is too much supply, we need new liquidity on the market in order the price to rise.

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August 31, 2017, 10:41:11 PM
 #5764

Nobody can know for sure what will happen but people sometimes hope, sometimes are scared. Holding your coins is the best way to go.

Liquidity provider.
Hakkane
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August 31, 2017, 10:55:22 PM
 #5765

Coin supply is huge and it's inflationary

As the other 95% of cryptocoins, and that is not preventing you investing on them  Smiley

Furthermore many chinese host are selling hd space very low creating low coin value.

That is simply a lie. Only 19 out of 720 hosts are located in China (2.7%), and the amount of storage they offer is irrelevant. Hosting is mainly a western countries thing (source: https://siahub.info/network)

They should add more feature or cloak system to create anonimous transactions.

Being a coin used for paying storage contracts where files are completely encrypted, the anonymity of transactions is irrelevant. There are much more interesting features the developing team is working on:
- Improvements in scalability and reliability for renters
- Recovery of files only with the wallet's seed
- File sharing
- File streaming...


................. Next time you have to increase your post count, try either to say something more coherent or limit to speculation about the price like every other sigspammer  Wink. Writing a random lie or incoherent stuff only misinforms other people and speaks very bad about you
trgnn
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September 01, 2017, 12:20:42 PM
 #5766

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 ^^

Liquidity provider.
Hakkane
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September 01, 2017, 01:35:11 PM
 #5767

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
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September 01, 2017, 01:38:44 PM
 #5768

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

Okay, got it. Thanks for the info Smiley

I'm really interested into such project which bring a real +value on blockchain tech. I don't understand why Sia hosting isn't more used... there is a lot of offer and a very little bit of demand.

Liquidity provider.
rabidri
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September 01, 2017, 01:48:55 PM
 #5769

Thanks Hakkane for all your replies Smiley
I also have a question ! Uploaded files are encrypted and split, is this process done by the client ?
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September 01, 2017, 01:53:18 PM
 #5770

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
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September 01, 2017, 02:07:37 PM
 #5771

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
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September 01, 2017, 02:31:11 PM
 #5772

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
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September 01, 2017, 02:38:43 PM
 #5773

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
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September 01, 2017, 02:40:34 PM
 #5774

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.

Am I spamming? Report me!
Hakkane
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September 01, 2017, 04:07:34 PM
 #5775

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

My pleasure  to help Smiley

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.
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September 01, 2017, 05:17:51 PM
 #5776

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.

Liquidity provider.
unusualfacts30
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September 01, 2017, 05:27:46 PM
 #5777

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
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September 01, 2017, 05:31:25 PM
 #5778

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
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September 01, 2017, 06:18:33 PM
 #5779

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

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
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September 01, 2017, 06:30:45 PM
 #5780

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.
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