[ANN] Sia - Decentralized Storage

[striker7334 2.0]

I skimmed the whitepaper on the website I like what I see here, especially since the dev have put their name on the line and everything so that always a bonus. I'm definitely interested in the future of this project I bought in at Poloniex @17 and I'll hold for a little while and see where this goes. Looking forward to the GUI release!

[1713304265]

1713304265

[1713304265]

1713304265

[nextgencoin]

people seem very evasive about the number of coins that will be minted?

You are funny. All your questions are for to calculate market cap and make some short term trade on a coin you know nothing or care about.
You don't care enough to read the whitepaper. You don't skim through the thread. You are not trying to understand that this is not an altcoin
trading game coin. But to answer your ?.


Siacoins that will be mined goes down by one every block until it reaches 30k per block. After that it will always mine 30k I guess forever.
That is because Siacoin is for renting storage and for mostly businesses to store all their cloud data cheaper and more reliable than centralized services.
Siacoin is a currency for storage usage so the ultimate value and price will be decided by the demand for its storage.


Siacoin allows a little boy in Alaska to use his 4TB hdd he got for Christmas to sell his space to Netflix who will use all of Sia's thousands of storage providers to store their content cheaper than Amazon. And for Mr. Smith who used to put his videos of himself naked making muscle poses on google drive until he got paranoid that it takes only one google employee to allow a hacker to gain access to his account and upload his video where if you put it in Sia, even the hosters don't know what they are storing so you only trust Sia the protocol which is open source.

Why have torrents anymore when there is Sia. Why should those guys who upload movies for free use file hosting sites when he can now use Sia?
Siacoin will be improved and tested like Bitcoin. If you trust your money to Bitcoin you will trust Sia for your data.

If your community didn't care about trading the coin then maybe it shouldn't move to get on the biggest trading sites in altcoins....

[striker7334 2.0]

people seem very evasive about the number of coins that will be minted?

You are funny. All your questions are for to calculate market cap and make some short term trade on a coin you know nothing or care about.
You don't care enough to read the whitepaper. You don't skim through the thread. You are not trying to understand that this is not an altcoin
trading game coin. But to answer your ?.


Siacoins that will be mined goes down by one every block until it reaches 30k per block. After that it will always mine 30k I guess forever.
That is because Siacoin is for renting storage and for mostly businesses to store all their cloud data cheaper and more reliable than centralized services.
Siacoin is a currency for storage usage so the ultimate value and price will be decided by the demand for its storage.


Siacoin allows a little boy in Alaska to use his 4TB hdd he got for Christmas to sell his space to Netflix who will use all of Sia's thousands of storage providers to store their content cheaper than Amazon. And for Mr. Smith who used to put his videos of himself naked making muscle poses on google drive until he got paranoid that it takes only one google employee to allow a hacker to gain access to his account and upload his video where if you put it in Sia, even the hosters don't know what they are storing so you only trust Sia the protocol which is open source.

Why have torrents anymore when there is Sia. Why should those guys who upload movies for free use file hosting sites when he can now use Sia?
Siacoin will be improved and tested like Bitcoin. If you trust your money to Bitcoin you will trust Sia for your data.

If your community didn't care about trading the coin then maybe it shouldn't move to get on the biggest trading sites in altcoins....

It is a red flag there is no block explorer or total amount of supply(CMKC shows 4,627,691,000 SC?)...thats normally a sign of a premine, unless I'm missed the link to the block explorer?

[chanc3r]

It is a red flag there is no block explorer or total amount of supply(CMKC shows 4,627,691,000 SC?)...thats normally a sign of a premine, unless I'm missed the link to the block explorer?

http://explore.siacoin.com

its a bit rough to say the least as explorers go..
No premise i'm aware of though.

[striker7334 2.0]

It is a red flag there is no block explorer or total amount of supply(CMKC shows 4,627,691,000 SC?)...thats normally a sign of a premine, unless I'm missed the link to the block explorer?

http://explore.siacoin.com

its a bit rough to say the least as explorers go..
No premise i'm aware of though.

Thank you very much and that's fine as long as there's one to keep an eye out on.

[ol92]

people seem very evasive about the number of coins that will be minted?

You are funny. All your questions are for to calculate market cap and make some short term trade on a coin you know nothing or care about.
You don't care enough to read the whitepaper. You don't skim through the thread. You are not trying to understand that this is not an altcoin
trading game coin. But to answer your ?.


Siacoins that will be mined goes down by one every block until it reaches 30k per block. After that it will always mine 30k I guess forever.
That is because Siacoin is for renting storage and for mostly businesses to store all their cloud data cheaper and more reliable than centralized services.
Siacoin is a currency for storage usage so the ultimate value and price will be decided by the demand for its storage.


Siacoin allows a little boy in Alaska to use his 4TB hdd he got for Christmas to sell his space to Netflix who will use all of Sia's thousands of storage providers to store their content cheaper than Amazon. And for Mr. Smith who used to put his videos of himself naked making muscle poses on google drive until he got paranoid that it takes only one google employee to allow a hacker to gain access to his account and upload his video where if you put it in Sia, even the hosters don't know what they are storing so you only trust Sia the protocol which is open source.

Why have torrents anymore when there is Sia. Why should those guys who upload movies for free use file hosting sites when he can now use Sia?
Siacoin will be improved and tested like Bitcoin. If you trust your money to Bitcoin you will trust Sia for your data.

If your community didn't care about trading the coin then maybe it shouldn't move to get on the biggest trading sites in altcoins....

It is a red flag there is no block explorer or total amount of supply(CMKC shows 4,627,691,000 SC?)...thats normally a sign of a premine, unless I'm missed the link to the block explorer?

They found an elegant way to avoid premine & ICO : this is a two coin mecanism : siacoin and siafunds.
The siafunds has been sold to initial investors : they give right to have a percentage of the payment in siacoin of the storage contracts.
The siacoin are being produced by POW and are the money for the storage renting mecanism.

The one offering storage propose renting at some price on the network, the one searching for storage choose the best offer for his needs and pay in siacoin for a certain time.
A small fee of the renting payment goes to the siafunds holders.

The storage mecanism is in ealy beta stage.

[chanc3r]

They found an elegant way to avoid premine & ICO : this is a two coin mecanism : siacoin and siafunds.
The siafunds has been sold to initial investors : they give right to have a percentage of the payment in siacoin of the storage contracts.
The siacoin are being produced by POW and are the money for the storage renting mecanism.

The one offering storage propose renting at some price on the network, the one searching for storage choose the best offer for his needs and pay in siacoin for a certain time.
A small fee of the renting payment goes to the siafunds holders.

The storage mecanism is in ealy beta stage.

This is true...
There was a SIAFUND ICO on NXT Asset Exchange about a year ago, to fund the team.
About 1600 or so of about 2000 were sold I think.
These remain in private hands - I know of only one sale for 1 fund at 2BTC, there may be others.
The fund gets 3.9% of all SUCCESSFUL i.e. paying out storage contracts.
A fund holder gets 1/10000th of this fee
The majority are held by Nebulous to give them an income/collateral for future investment it also establishes the teams motive to make Sia successful at storage.
All coin transaction fee's go to miners as expected.
The storage upload/retrieval does not depend on PoW but the consensus does.

Basically Sia has been a year in the making so far and if you look at the code you can see the work.

[sasha35625]

put some buy wall at Polo for God's sake Looks very strange now.

[Taek]

No premise i'm aware of though.

We premined 100 blocks, or just under 30 million coins.

The fund gets 3.9% of all SUCCESSFUL i.e. paying out storage contracts.

We actually had to change that due to potential loopholes related to file contract revisions. Now it's 3.9% of all file contracts, even failed ones.

can i get some real figures on how many coins will be supplied and how they are used i.e. are they destroyed ever etc?

300,000 coins mined in genesis block, 299,999 in block 1, 299,998 in block 2, etc. Block time is 10 minutes. The minimum block reward is 30,000  (which gets hit at block 270,000). Current height is 15,878, current supply is 4.6 billion coins.

There's more info here: https://docs.google.com/document/d/1zNpAct53E_5p4KO3_-ZOrg5N9HQw8ACTQ7zAyksSIf8/edit

If you want to join our slack, you can get an invite here: slackin.siacoin.com

[striker7334 2.0]

No premise i'm aware of though.

We premined 100 blocks, or just under 30 million coins.

The fund gets 3.9% of all SUCCESSFUL i.e. paying out storage contracts.

We actually had to change that due to potential loopholes related to file contract revisions. Now it's 3.9% of all file contracts, even failed ones.

can i get some real figures on how many coins will be supplied and how they are used i.e. are they destroyed ever etc?

300,000 coins mined in genesis block, 299,999 in block 1, 299,998 in block 2, etc. Block time is 10 minutes. The minimum block reward is 30,000  (which gets hit at block 270,000). Current height is 15,878, current supply is 4.6 billion coins.

There's more info here: https://docs.google.com/document/d/1zNpAct53E_5p4KO3_-ZOrg5N9HQw8ACTQ7zAyksSIf8/edit

If you want to join our slack, you can get an invite here: slackin.siacoin.com

I appreciate the information I'll definitely be buying while its cheap! 

[Tobo]

Siacoin is on coinmarketcap.com now- http://coinmarketcap.com/currencies/siacoin/

[TerraMaster]

Everyone keep in mind SIA is still in its infancy but growing. As far as market price, its going to go up and down, especially in its first week. However I firmly believe after the next version release and even further down the road with a more finished product, the wallet use will explode and the demand for coins will also rise along with it.  We haven't even scratched the surface yet as far as any mainstream usage of SIA storage. Most haven't heard of SIA yet ..The best is yet to come  

[chrysophylax]

Everyone keep in mind SIA is still in its infancy but growing. As far as market price, its going to go up and down, especially in its first week. However I firmly believe after the next version release and even further down the road with a more finished product, the wallet use will explode and the demand for coins will also rise along with it.  We haven't even scratched the surface yet as far as any mainstream usage of SIA storage. Most haven't heard of SIA yet ..The best is yet to come  

totally agreed ...

there is a market for the project - and a market for the coin ...

each will intersect one another down the track - and this is a good place to be ... right at the beginning ...

taek and team - great work ...

#crysx

[striker7334 2.0]

Everyone keep in mind SIA is still in its infancy but growing. As far as market price, its going to go up and down, especially in its first week. However I firmly believe after the next version release and even further down the road with a more finished product, the wallet use will explode and the demand for coins will also rise along with it.  We haven't even scratched the surface yet as far as any mainstream usage of SIA storage. Most haven't heard of SIA yet ..The best is yet to come 

totally agreed ...

there is a market for the project - and a market for the coin ...

each will intersect one another down the track - and this is a good place to be ... right at the beginning ...

taek and team - great work ...

#crysx

I definitely agree there is a strong demand for it; the only competition that's really trying to tackle the same goal is Storj on XCP and I have no idea how that project is coming along. I like the fact the team has a simple goal and remarkable vision. ETH and MAID will include this true, but they have high expectations from their communities for other areas so who knows when the devs will get around to improving decentralized storage on each platform.

[kingscrown]

im interested in SIA buy at thi spot id buy for 10 satoshi each - anybody wants to sell - PM me

other than that - project looks promising, theres also R3D - that can host websites, other than that not many coins can compare
storj is imo not at a point to takeover spot of Sia for files

[TerraMaster]

Is it just me, or has anyone noticed there is no trading activity (SIA) on Poloniex for a while now... strange? Possibly an issue there...

[striker7334 2.0]

Is it just me, or has anyone noticed there is no trading activity (SIA) on Poloniex for a while now... strange? Possibly an issue there...

Well there is quite a few BTC buy walls that we have to eat through to really see any activity. No volatility, no attractive reason to trade.

[cryptoPrecise]

how much is the market cap?

[striker7334 2.0]

how much is the market cap?

According to CMKTC $148,393

[nextgencoin]

People always argue with me and tell me they don't need to induce momentum in a coin but I seriously recommend anyone who has a lot invested in SIA to at this very early light trade stage to chomp up the sell wall steadily to a more suitable level.



Some would call it a pump I would say everyone who believes in the coin should put there money where their mouth is and buy a bit not just sit on their hands waiting to dump their mined SIA. Otherwise you get a stagnant market that goes nowhere. You need to make clear to people interested in the coin that they CANT buy coins ever again under say 50 sats again.