[ANN] Sia - Decentralized Storage

[wudafuxup]

I bought SIA at 600 sat - beat that whiners! 

Yea I bought SC at 600 too >.< . Not only that but I bought Digibyte at 540 also. My GAINZ my GAAAINNNZZZZ. 

[malbarussa]

mining process is too buggy

[btcdiggingmaster]

I bought SIA at 600 sat - beat that whiners! 

Every time I think it can't be lower than it is, but chart proofs opposite and surprises me that it is possible...to be lower...I don't know how much time it will take to recover till July price, any thoughts?

Right now the price of SIA is testing our patience because from the July the altcoins market is completely in downfall. It is not possible to predict how long it will take to reach more than 600 sats.

[DOGG]

mining process is too buggy

What? Same as any other coin...

[metallicelmo]

I bought SIA at 600 sat - beat that whiners! 

Every time I think it can't be lower than it is, but chart proofs opposite and surprises me that it is possible...to be lower...I don't know how much time it will take to recover till July price, any thoughts?

Right now the price of SIA is testing our patience because from the July the altcoins market is completely in downfall. It is not possible to predict how long it will take to reach more than 600 sats.

I think it depends what altcoin you have there are so many altcoins today, my portfolio only got better last 6 months

[Nightz]

Can someone here put in a nutshell what the main difference is between Storj and Sia?

[cimpex]

Can someone here put in a nutshell what the main difference is between Storj and Sia?

Sia is a mineable coin, Storj is a token.
Both are developed for decentralized storage of data.
Price for capacity/bandwidth: Sia - every user is able to make custom offers, Storj - global price is set be Storj (easier for farmers...no need to care about supply and demand)
Another upcoming storage provider is Filecoin.

[Zontop]

How old coins are being pumped these days with x3 or x4 times. It seems that Sia is next on the list of those people. It has already significant volume with small changes in price. I have missed some previous but this time my eyes and hands are on this. I expect quick rise anytime.

[ronzzz]

love that project.

[badboyrazor]

Is there any information published on how much space is actually being used on the Sia network? I'm not asking how much total space is available to use but rather how such space is being occupied right now?

[Zer0Sum]

Is there any information published on how much space is actually being used on the Sia network? I'm not asking how much total space is available to use but rather how such space is being occupied right now?

Not very much... << 5% of capacity last I saw some numbers.

Here's the whole adoption problem...
Would Google even exist if they chose a pay-alt-crypto-as-you-go model in 2000?  No chance.

Sia needs to adopt a basic "free" model to bootstrap the network, gain credibility and get some measurable market share...
With charges for enterprise or non-standard services or heavy usage... or someone else will do it for p2p storage.

There is nothing radical about giving away limited free web services to gain market share.

[Fantomas81]

Waiting for 50 sat to buy)

[steinkopf]

Still holding SIA coin hard like a Rock..
hoping for some miracle now

You are not the only one, but not like I'm a Rock.. . simply to sell now would be the most stupid decision I would do after waiting so long... I don't understand why such a good project is so cheap   

[PeterPalmBeach]

Sia will go up for sure. Great project, still active.

[sobrino_od]

very nice project...any chance to participate?

[Zabivelli]

Edit: Someone is buying hard! Think a bit...

Someone is buying hard means someone is selling hard.

Lol this killed me :p ... someone that is buying hard, of course means someone is selling hard, indeed.


Guys what is the damn max supply of this coin?

30+ billion is already in circulation.. is there an end to this?

[Hakkane]

Guys what is the damn max supply of this coin?

30+ billion is already in circulation.. is there an end to this?

No there is no limit of coins in circulation: https://siastats.info/supply_inflation.html The number of mined coins decreases with every block, but the minimal will always be 30KS/block. However, this number will be less and less representative of the total coins in circulation: check the Inflation chart (second chart) on the link I provided.

Also take in mind in the future Proof of Burn mechanics will be used for hosts, so some coins will be burnt. With the proper adoption of storage, Sia can even become deflationary. Also, more adoption of the storage means more coins locked in contracts and collateral, so less circulating coins.

Sia needs to adopt a basic "free" model to bootstrap the network, gain credibility and get some measurable market share...
With charges for enterprise or non-standard services or heavy usage... or someone else will do it for p2p storage.

There is nothing radical about giving away limited free web services to gain market share.

The average pricing a renter pays right now is $1/TB/month: that is close to nothing (compare it to the $23 of Amazon S3). Each host is receiving less than $0.50/TB/month. We can not ask hosts more efforts providing free storage. However storage providing companies that use Sia as a backend can offer free storage to their buyers and pay that part to the hosts. But this is something it should not be implemented at the network level

Is there any information published on how much space is actually being used on the Sia network? I'm not asking how much total space is available to use but rather how such space is being occupied right now?

90TB currently: https://siastats.info/hosts_network.html

[Zabivelli]

Guys what is the damn max supply of this coin?

30+ billion is already in circulation.. is there an end to this?

No there is no limit of coins in circulation: https://siastats.info/supply_inflation.html The number of mined coins decreases with every block, but the minimal will always be 30KS/block. However, this number will be less and less representative of the total coins in circulation: check the Inflation chart (second chart) on the link I provided.

Also take in mind in the future Proof of Burn mechanics will be used for hosts, so some coins will be burnt. With the proper adoption of storage, Sia can even become deflationary. Also, more adoption of the storage means more coins locked in contracts and collateral, so less circulating coins.

So i just checked this stats on Sia from the link you provided. What I could see:

1. from 2016 until now the token count is following the supply chart, which is 30+ billion. That's correct
2. If the token adds up with the chart, means there has been no any token burns. Or should this happen sometime in future? when? How much?
3. What is the inflation chart based on, any explanation behind it?.. don't get me wrong but i can make a chart like that also. What is it based on?

If no burn and max supply, the value will keep going down, because of constantly bigger supply.

[Hakkane]

So i just checked this stats on Sia from the link you provided. What I could see:

1. from 2016 until now the token count is following the supply chart, which is 30+ billion. That's correct
2. If the token adds up with the chart, means there has been no any token burns. Or should this happen sometime in future? when? How much?
3. What is the inflation chart based on, any explanation behind it?.. don't get me wrong but i can make a chart like that also. What is it based on?

If no burn and max supply, the value will keep going down, because of constantly bigger supply.

Proof of Burn is not yet active, it is planned for next year. It will be a feature to prove that hosts are legit,thus avoiding Sybil attacks. No one can predict how many coins will be burned at a certain time: it will depend on how much each host decides to burn per TB and how many files are stored on the network. Thus, the chart is not considering PoB mechanics and it is showing the coin supply based exclusively on the block rewards (that is predictable)

Inflation chart just means what percentage of new coins will be in circulation 365 days after any time point. It is the same as the inflation indexes we see in FIAT coins. For example, checking today the inflation for the next 365 days is 25%. In other words: it will be an extra 25% of coins in circulation. In 2020 inflation will be under 4% meaning that in 2021 there will be a 4% more of coins circulating than in 2020. Again, inflation can't consider PoB as it is not predicatble, and it is purely based on the block reward.

Why so much supply? Sia developers strongly believe in Proof of Work as the mechanism to secure the network. You need a block reward in order to keep miners incentivized forever. However, as the block reward will be the same every year once it goings down to 30000, the inflation will be smaller and smaller (same new minted coins for a total supply that increases every year).

[reffi]

Look what happening now, there is trend of revival of crashed coins!!! First BTS jump 800 to 1400 now DGB jump 40%, and now SC turn!!!!!!!  Easy money!