[ANN] Sia - Decentralized Storage

[Tmdz]

God damn it.

These farms keep on dumping coins and tanking the market with all the cheap sia.  Hope that when the diff ramps up the price can go back up, or at least there will be fewer cheap sia coins available (same difference).

Read my previous posts.
Its not mining farms, its simply a new mining software update from Claymores Dualminer.

No, its not merged mining, its 2 different algos at the same time, resulting in mining 2 different coins.
In this case its either ETH & DCR, or ETH & SIA.

It's concurrent mining, in other words.

He explains it quite well in his thread. Im just too lazy to find the post right now..
But ye, its pretty neat and cool.


edit:

Btw, have u guys tried it? You can disable ETH mining or put its intensity so low it wont affect the SIA part.
How does it match up against your current mining software?

I should have been more specific and yes I know about the dual miner, thats the recent hash rate increase.

Today there was a huge dump of Sia coins on the market, take a look at the candle stick.  It comes out to a little more than $90'000 and I chopped that up to a farm mining a ton of sia and then for some reason decided to dump it all at once.  In the past private pools and as well farms would hit Sia HARD when the hash rate would adjust really low, allowing them to grab tons of coins at high profit.  I think with the dual miner that those days will be gone, as people will continue to dual mine sia until it is not worth it for the extra electricity.

I am a bit baffled WHY someone would need to dump so many coins at once, they could have easily sold those over a few days for more money. Well perhaps the fella need to make a down payment a new yellow Lamborghini 

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[bbc.reporter]

Is the rise of Sia over? I think this was only a pumped because there was no huge good news after the price went up. Or maybe we still haven't seen the best part yet?

[nrg_wolf]

Is the rise of Sia over? I think this was only a pumped because there was no huge good news after the price went up. Or maybe we still haven't seen the best part yet?

Looks to be that way, price has been dropping since the pools release and large amounts have been getting dumped.

[Goldshredder]

It's simple - the new pools have opened sia up to the mine-and-dumpers. The dual eth/sia mining is also encouraging mine-and-dump of sia. So the sell pressure has increased. But the buy side has not increased (in fact it has decreased since the 1.0 release, as expected from the buy-the-rumour-sell-the-news effect). And so the price drops. It's a hard development, for people who have invested in sia over the past month.

The road map of "fixing v1.0 for the next month+" is also not encouraging of new buyers at this time. It's more "sideways momentum" rather than forward momentum. Forward momentum is what will be needed to encourage new buyers and turn the market back up.

There is also talk that the sia difficulty is not balanced enough? needs to change diff more often? Not sure, but that's what they're saying out there.

[Fanpant]

Is the rise of Sia over? I think this was only a pumped because there was no huge good news after the price went up. Or maybe we still haven't seen the best part yet?

The SIA was mined previously mainly by users, now, it is mined by the professional miners. So there will be dumps.

[frostminer]

You guys are getting this wrong ...

Claymore miner makes the SIAcoins spread to more users.
This is GOOD.

Its no "big mining farm" but a ton of users, yes, some have many rigs and much power.

But for the COIN, claymore is good.
The rise of difficulty is also good for THE COIN.

Yes, it must suck for u guys who basicly mined this coin "alone" on low diff and got huge rewards(also enables big dumps).
Now its spread among a ton of users with 1 - 50 gpus.

[Amph]

it's true, in fact a coin will never die because of dumping, like many believe, a coin will always die because of low demand, low amount of buyers, that's it

this because dumping is fixed, tnx to the block reward/diff, instead demand is not fixed, demand is the important factor to determine the value

[Porsche911]

3rd Review on Invesd! Vote for Sia - updated Review!

https://twitter.com/ProjectInvesd/status/752134920592617472
invesd.org

[pufuletz]

Just watching from afar, thankfully.  Looks like it has farther to fall. At what price is this likely to bottom out and be safe to go into?

[Arvydas77]

Storj now is going strong but of course it is not a reason for Sia drop. I thought about the price of 400 sat at the end of this year but now it seems to optimistic for me. Anyway, Sia project looks good and I trust developers.

[IncludeBeer]

What exchanges are trading SC?  OP doesn't list such things...

Also, is there a place to view difficulty change over time? I see current difficulty in block explorer, but not past difficulty.

[AceOfPentacles]

After downloading the SIA dashboard, about how long does it take for your first deposit to hit your walllet?

[xurious]

What exchanges are trading SC?  OP doesn't list such things...

Also, is there a place to view difficulty change over time? I see current difficulty in block explorer, but not past difficulty.

Exchanges listed on the right hand side: https://forum.sia.tech/


http://siamining.com/stats lists 1 weeks worth of Difficulty changes.

[madmartyk]

After downloading the SIA dashboard, about how long does it take for your first deposit to hit your walllet?

You have to wait until the wallet syncs, mine took about 48 hours

[AceOfPentacles]

After downloading the SIA dashboard, about how long does it take for your first deposit to hit your walllet?

You have to wait until the wallet syncs, mine took about 48 hours

Ok great. Does SIA offer a bootstrap download to make the process faster?

[bbc.reporter]

Is the rise of Sia over? I think this was only a pumped because there was no huge good news after the price went up. Or maybe we still haven't seen the best part yet?

The SIA was mined previously mainly by users, now, it is mined by the professional miners. So there will be dumps.

So does it mean that SIA will be very much the same like bitcoin? Will the professional miners also become a cartel and have power over the SIA core developers and bypass the community? I hope it's not so.

[Bgjjj2016]

Is the rise of Sia over? I think this was only a pumped because there was no huge good news after the price went up. Or maybe we still haven't seen the best part yet?

The SIA was mined previously mainly by users, now, it is mined by the professional miners. So there will be dumps.

So does it mean that SIA will be very much the same like bitcoin? Will the professional miners also become a cartel and have power over the SIA core developers and bypass the community? I hope it's not so.

Is there a limit to the number of Sia coins that will be mined or this is limitless ? Thank you !

[AizenSou]

You guys are getting this wrong ...

Claymore miner makes the SIAcoins spread to more users.
This is GOOD.

Its no "big mining farm" but a ton of users, yes, some have many rigs and much power.

But for the COIN, claymore is good.
The rise of difficulty is also good for THE COIN.

Yes, it must suck for u guys who basicly mined this coin "alone" on low diff and got huge rewards(also enables big dumps).
Now its spread among a ton of users with 1 - 50 gpus.

Ton of users? The biggest guy on pool has a few hundred GPUs. How could it be good for the coin when big farms practically get it for free (or very cheap since it's dualmining) ?
Sia and Decred will be a dumpfest and the only way for it is to go down if it continues like this. Look at Decred, it could never go up again. Sia made some nice growths but i doubt that it could continue like this.
Dualminer is a plague, IMHO.

[xurious]

Is the rise of Sia over? I think this was only a pumped because there was no huge good news after the price went up. Or maybe we still haven't seen the best part yet?

The SIA was mined previously mainly by users, now, it is mined by the professional miners. So there will be dumps.

So does it mean that SIA will be very much the same like bitcoin? Will the professional miners also become a cartel and have power over the SIA core developers and bypass the community? I hope it's not so.

Is there a limit to the number of Sia coins that will be mined or this is limitless ? Thank you !

No, it is limitless.

The block reward drops by 1 each block(Current reward is about 240,000.) Once block 270,000 hits, the reward won't drop below 30,000. So sia is slightly inflationary.

[d57heinz]

You guys are getting this wrong ...

Claymore miner makes the SIAcoins spread to more users.
This is GOOD.

Its no "big mining farm" but a ton of users, yes, some have many rigs and much power.

But for the COIN, claymore is good.
The rise of difficulty is also good for THE COIN.

Yes, it must suck for u guys who basicly mined this coin "alone" on low diff and got huge rewards(also enables big dumps).
Now its spread among a ton of users with 1 - 50 gpus.

Ton of users? The biggest guy on pool has a few hundred GPUs. How could it be good for the coin when big farms practically get it for free (or very cheap since it's dualmining) ?
Sia and Decred will be a dumpfest and the only way for it is to go down if it continues like this. Look at Decred, it could never go up again. Sia made some nice growths but i doubt that it could continue like this.
Dualminer is a plague, IMHO.

What killed this coin was not dual miner. What killed this coin along with every other coin is pools!  Most of these large farms won't run nodes and solo mine. Why is that.  Well because these huge farms are the same people that run the pools.  So not only are they greedy with the huge farms and try to hide their size with a pool.   also charging fees used to grow their farms..  The idea of decentralization when all this hardware is in the wild along with unequal prices on resources leads all coins to one inevitable ending.  If you can find one block a day or every other day I feel that is sufficient enough to be on solo.  Sad to see this coin take such a beating because I think the concept is great although I can't seem to figure out the wallet and file sharing.  Keeps telling me not enough hosts when I try to purchase space. And I have no clue what going price is. Keeping an eye on this

Best Regards
D57heinz