[ANN] Sia - Decentralized Storage

[Tmdz]

How long for coins to mature?

Did some digging and it is suppose to be 24 hours so that translates to 144 blocks for maturity.
 Payouts on nano should begin later today as those coins mature.

[1715236183]

1715236183

[1715236183]

1715236183

[xurious]

What pools for mining there except nanopoola?

Siamining.com will be up and running later today.

If you'd like to start on the beta (and we'll do some behind the scenes changes to live) you can start here: siamining.com/testing.

[xurious]

Dual mining is actually bad for miners, the reason is simple.  If people can mine both coins at once they no longer have to choose an algo to mine and it raises the hash rate in both.  Where if they had to choose a single coin then hash would be removed from one coin and used to mine on another.

Anyway Nano has released a Beta Sia pool, the stats or payouts are not really working yet but the hash is already sky rocketing.  Profitability is likely doomed on sia pretty soon.

Yup. Hashrates gone from 5TH to 11TH in about two weeks.

[Amph]

What pools for mining there except nanopoola?

Siamining.com will be up and running later today.

If you'd like to start on the beta (and we'll do some behind the scenes changes to live) you can start here: siamining.com/testing.

it will support the cuda miner version?

[IncludeBeer]

Dual mining is actually bad for miners, the reason is simple.  If people can mine both coins at once they no longer have to choose an algo to mine and it raises the hash rate in both.  Where if they had to choose a single coin then hash would be removed from one coin and used to mine on another.

Anyway Nano has released a Beta Sia pool, the stats or payouts are not really working yet but the hash is already sky rocketing.  Profitability is likely doomed on sia pretty soon.

Yup. Hashrates gone from 5TH to 11TH in about two weeks.

No, this is a good thing for the coin. It means people are interested. Sia is obviously not aiming to be just a pump n dump. Try to think long term if u can...not "omg difficulty climbing so high right after release!"

[frostminer]

Looks like this coin is getting MURDERED by huge mining farms.

#1 miner on nanopool is sending 500GH/s. That's like over 500 GPUs.

Looks like the difficulty will double by next adjustment in a few days.

Read my post on top of the page...


The reason for double difficulty and hashrate skyrocketing is the release of a dual miner for ETH/SIA.
That means that the massive power from the ethminers using this miner now is partly directed towards SIA.

Many of the miners probably stay with ETH/DCR.
But SIAs diff will double or more with next adjustment.
I think this is a weakness of the coin... diff should be readjusted more often.
If the ETH miners moves away from SIA after diff update, the original miners will be stuck with blocks really hard to solve and for a long time.

[crazyearner]

Nice to have a new alt coin to mine on with eTH but like many said here diff gonna go up so quick and kill the coin to the point it will eventually be worthless in terms to mine. Sia coin should hard fork and change algo to dagger and would be much safer for its future or have multi algo support.

[frostminer]

Nice to have a new alt coin to mine on with eTH but like many said here diff gonna go up so quick and kill the coin to the point it will eventually be worthless in terms to mine. Sia coin should hard fork and change algo to dagger and would be much safer for its future or have multi algo support.

Or adjust difficulty each block, not once a week

[xurious]

Dual mining is actually bad for miners, the reason is simple.  If people can mine both coins at once they no longer have to choose an algo to mine and it raises the hash rate in both.  Where if they had to choose a single coin then hash would be removed from one coin and used to mine on another.

Anyway Nano has released a Beta Sia pool, the stats or payouts are not really working yet but the hash is already sky rocketing.  Profitability is likely doomed on sia pretty soon.

Yup. Hashrates gone from 5TH to 11TH in about two weeks.

No, this is a good thing for the coin. It means people are interested. Sia is obviously not aiming to be just a pump n dump. Try to think long term if u can...not "omg difficulty climbing so high right after release!"

High transactions would show interest in the coin.

High hashrate shows miners can make a profit at the moment.

[Lucky - Luciano]

Does anyone knows which hasrate have ATI 7950,7970 and R9 390 with Gominer?

[adaseb]

Anyone get paid yet by Nanopool? Seems I have a balance but no payout.

[Tmdz]

Frostminer:

 I pull this quote way back from I forget who in this thread.

I noted the following pattern since about 10 days :

step 1 :diff = 100X : at this time : very high --> slow block production because diff is high and hashrate is low since it is not profitable or not the most profitable coin : about 1 block per hour or worse
step 2 : 500 block later (a week or more) : diff is adjusted : 50X (half the previous one) --> about normal block production : hashrate increase since it is profitable, block time seems about normal, some farms and miners are back
step 3: 500 block later (two days) : diff is again adjusted (why?) : about 16X or 25X (half or less thant the previous one): fast block  production with huge hashrate since it is the most profitable coin, private farms jumps with full power.
step 1 again : 500 block later (less than one day) : back to 100x step 1

As you may see we are locked in this circle. To my opinion, difficulty adjustement needs some tweaking for smoother block production : even a public pool may not be enough to fix this (but it will help).

Now that there is public pool will this effect be worse or will it even things out.  The dual miners could level it out IF people just leave it and keep on mining even though the diff could double but if the miners leave and create a hashrate black hole then the pattern will continue.  It seems to be a pretty serious issue that NEEDS to be dealt with as any coin that will take hours to complete a transaction will get a bad rep.

[wavespump]

I find this good coin, it has potential to be top 10, is this coin an ICO coin or mining coin? (it seems not an ICO coin)

Maybe you will surpass maidsafe market cap cause you are more competent than that, they usually delayed things, maybe you will be NO.1 in the decentralized storage market.

[bitoc2015]

WTB Siafunds
PM me

[Fanpant]

Nice to have a new alt coin to mine on with eTH but like many said here diff gonna go up so quick and kill the coin to the point it will eventually be worthless in terms to mine. Sia coin should hard fork and change algo to dagger and would be much safer for its future or have multi algo support.

Or adjust difficulty each block, not once a week

It should adjust the difficulty every day if not every block. Otherwise, in the next difficulty adjustment, it will take very long to confirm.

[nrg_wolf]

Any idea's when nanopool pays out? Have been mining there for 2 days now and still no payouts :-/

[madmartyk]

Any idea's when nanopool pays out? Have been mining there for 2 days now and still no payouts :-/

They pay out every day, but you have to have a minimum of 5000 coins.

[Tmdz]

Im a bit curious about the storage aspect of this coin.

If I upload some files to my storage how would I share that with anyone...if I want to?

[xurious]

SiaMining.com went live this morning. Features:

Pay-Per-Share - 3% fee - Get paid even with orphaned blocks.
Long Polling support - Minimize those stale shares!
Variable Difficulty - Improves network efficiency and provides more accurate miner statistics.
No Account setup - Simply use your wallet address as the username for easy payouts.
Worker Support - Detailed statistics of each worker.
Quick Payouts - Payments every 6 hours. No waiting on block confirmations!

Thread here: https://bitcointalk.org/index.php?topic=1545699.0

[google98]

I've lost track about this enterprise: Is there anything about to happen after v1.0 release? As far as I've heard it's about bugfixing now - has contact to companies already been established?

thx