[ANN] Sia - Decentralized Storage

[xurious]

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.   not to mention the 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

Pools enabled anyone who didn't have enough hashing power to find blocks in a reasonable amount of time, to finally start mining and adding their hashing power to the network. Before that it was futile. However "If you can find one block a day or every other day I feel that is sufficient enough to be on solo." wasn't feasible with a lot of people.

In testing we had people joining with 100-200GH at a crack. How do you think a person who had only 1GH was going to compare to operations of this size? Once the pool went live, we had someone connect with 600GH. The large operations were there either way, a pool simply exposes them.

File sharing is currently broken IIRC.

[Arvydas77]

It seems to me that only bots are sustaining Sia from the hit of the bottom. Sadly, I thought that Sia could do better on market but a few pumps and dumps are very bad things for this coin. It can really crash if BTC goes up strongly.

[Goldshredder]

Pools enabled anyone who didn't have enough hashing power to find blocks in a reasonable amount of time, to finally start mining and adding their hashing power to the network. Before that it was futile. However "If you can find one block a day or every other day I feel that is sufficient enough to be on solo." wasn't feasible with a lot of people.

In testing we had people joining with 100-200GH at a crack. How do you think a person who had only 1GH was going to compare to operations of this size? Once the pool went live, we had someone connect with 600GH. The large operations were there either way, a pool simply exposes them.

The network hashrate roughly doubling in the past week would seem to belie your statement to some degree.

The increased sell pressure on the exchanges over the same period also seems evident.

I'm not saying it's bad. Most coins must go through this phase. Most coins have pools. It's just a shame it opens the project up to pro miners who exist only to suck as much value from a coin as possible and take it for themselves. With Sia being a fledgling market, and dual mining almost asking for Sia to be used for "bonus profit taking", it is temporarily retracing the price a bit. But it could turn around at any time, and I would be surprised if the price isn't looking quite a bit better in a month or three.

[MinermanNC]

Found this in Claymore software... not sure what to think  



https://www.microsoft.com/security/portal/threat/encyclopedia/entry.aspx?name=Trojan%3aWin32%2fSkeeyah.A!bit&threatid=2147695505&enterprise=0

ok, I am using software for dual mining Exp/Sia, (the newer release) but this makes me nervous... perhaps no worries..... its been removed now, but? just an FYI

[frostminer]

Pools enabled anyone who didn't have enough hashing power to find blocks in a reasonable amount of time, to finally start mining and adding their hashing power to the network. Before that it was futile. However "If you can find one block a day or every other day I feel that is sufficient enough to be on solo." wasn't feasible with a lot of people.

In testing we had people joining with 100-200GH at a crack. How do you think a person who had only 1GH was going to compare to operations of this size? Once the pool went live, we had someone connect with 600GH. The large operations were there either way, a pool simply exposes them.

The network hashrate roughly doubling in the past week would seem to belie your statement to some degree.

The increased sell pressure on the exchanges over the same period also seems evident.

I'm not saying it's bad. Most coins must go through this phase. Most coins have pools. It's just a shame it opens the project up to pro miners who exist only to suck as much value from a coin as possible and take it for themselves. With Sia being a fledgling market, and dual mining almost asking for Sia to be used for "bonus profit taking", it is temporarily retracing the price a bit. But it could turn around at any time, and I would be surprised if the price isn't looking quite a bit better in a month or three.

As mentioned earlier... claymores miner is a good thing. It spreads the coins over bigger number of users than the few miners taking ALL earlier.
Yes, it must suck to be one of those who got huge rewards(and dumps) to now share with many others.

Id rather see 100 small dumps than 1 big one.

Sia's slow diff adjustment opened it for abuse. The diff should gone up immediately and not let the big hashrates get huge rewards for overpower.

[pufuletz]

Ok, so for the non-techy among us, for how much longer will anyone buying SC face the risk of massive miner dumps?

[Fanpant]

Ok, so for the non-techy among us, for how much longer will anyone buying SC face the risk of massive miner dumps?

I think the dumping is happening right now. You can see the price of the Siacoin is drop at the moment.

[frostminer]

Ok, so for the non-techy among us, for how much longer will anyone buying SC face the risk of massive miner dumps?

I think the dumping is happening right now. You can see the price of the Siacoin is drop at the moment.

I dont know SIA well, but u guys seem to panic easily.

Im sure some the sia-guys can confirm that 95% or more off the coins out now were mined BEFORE claymore.

And.. therefore belong in "fewer" wallets than if 1000 miners would share the same payout.


AND there is where u'r dump fear should be rooted.
There are probably some big bagholders here... and that is not due to the new claymore miner.




On the other hand... SIA has gotten GREAT attention from this.
Check the claymore thread.. Its a big thread with many readers.
And every one of them now know of SIA.

How do you determine the value of that level of exposure?
Free promotion ftw.

[Goldshredder]

Ok, so for the non-techy among us, for how much longer will anyone buying SC face the risk of massive miner dumps?

Every coin which involves mining faces the risk of massive miner dumps.

But the Sia dumping seems to have slowed over the past 24hrs, probably in response to the latest upward difficulty adjustments, and the lower price (that makes it less attractive or unprofitable for miners to sell at current prices).

But it remains to be seen how Sia's difficulty adjustment method will perform going forward. Hopefully a market equilibrium will be reached where sell pressure from the miners is balanced enough to not bully the market.

[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.

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.

This is an interesting direction that the SIA developers took. But what is the main reason that they made the SIA slightly inflationary instead of having a cap in total possible coins?

[pufuletz]

Who set up these massive miner pools to dump SIA - are the devs involved?

[Goldshredder]

Who set up these massive miner pools to dump SIA - are the devs involved?

It was only a temporary issue until the difficulty adjusted. Should be fine now. Next month will tell.

[serg_25]

Sia mining calc - http://sia-calc.cryptohub.info/
All data updates automatically

[frostminer]

Who set up these massive miner pools to dump SIA - are the devs involved?

Read my previous post a cpl above urs

[IncludeBeer]

Who set up these massive miner pools to dump SIA - are the devs involved?

Read my previous post a cpl above urs

You've got it right, frostminer.  Reading through this thread, a lot of people scare very easily I guess.  I mean, the coin is still BETA!  Some extra hashpower added to the network isn't a bad thing for the coin.  Yes, individual profits may be lower, but the coin itself is just fine.

I can't help but roll my eyes when people panic and start shouting "this coin is dead", when it hasn't even gotten out of beta.  Maybe because I'm a developer and work in software, but I really don't think people understand that development is an iterative process.  Things are constantly being worked on and updated. Be happy you have a GUI wallet and as much functionality as there is....

[frostminer]

Who set up these massive miner pools to dump SIA - are the devs involved?

Read my previous post a cpl above urs

You've got it right, frostminer.  Reading through this thread, a lot of people scare very easily I guess.  I mean, the coin is still BETA!  Some extra hashpower added to the network isn't a bad thing for the coin.  Yes, individual profits may be lower, but the coin itself is just fine.

I can't help but roll my eyes when people panic and start shouting "this coin is dead", when it hasn't even gotten out of beta.  Maybe because I'm a developer and work in software, but I really don't think people understand that development is an iterative process.  Things are constantly being worked on and updated. Be happy you have a GUI wallet and as much functionality as there is....

SIA has one really great thing going for it, if finished.

Decentralized storage has many real life applications.
The potential here is mindblowingly huge.

[IncludeBeer]

Who set up these massive miner pools to dump SIA - are the devs involved?

Read my previous post a cpl above urs

You've got it right, frostminer.  Reading through this thread, a lot of people scare very easily I guess.  I mean, the coin is still BETA!  Some extra hashpower added to the network isn't a bad thing for the coin.  Yes, individual profits may be lower, but the coin itself is just fine.

I can't help but roll my eyes when people panic and start shouting "this coin is dead", when it hasn't even gotten out of beta.  Maybe because I'm a developer and work in software, but I really don't think people understand that development is an iterative process.  Things are constantly being worked on and updated. Be happy you have a GUI wallet and as much functionality as there is....

SIA has one really great thing going for it, if finished.

Decentralized storage has many real life applications.
The potential here is mindblowingly huge.

Ha!  That's exactly what caught my eye the first time I read the OP: their goals for the future. "The long term goal of Sia is to become a serious competitor to existing cloud storage platforms, including Dropbox,
Google Drive, and OneDrive. We envision a future where even massive services such as Netflix and YouTube will use Sia to
deliver the best user experience to their customers."

What an awesome aspiration.  Sure, it's ambitious.  But it at least looks achievable. The tech behind the coin is really impressive, and I'm excited to see what this looks like in year's time.

[bluehorseshoe]

I had to do a pc rebuild, after installing SIA on to my new hard drive, how do I load/change my wallet to my original one using my address, seed phrase and password phrase?

Thank you,

Brett

[bbc.reporter]

Who set up these massive miner pools to dump SIA - are the devs involved?

Read my previous post a cpl above urs

You've got it right, frostminer.  Reading through this thread, a lot of people scare very easily I guess.  I mean, the coin is still BETA!  Some extra hashpower added to the network isn't a bad thing for the coin.  Yes, individual profits may be lower, but the coin itself is just fine.

I can't help but roll my eyes when people panic and start shouting "this coin is dead", when it hasn't even gotten out of beta.  Maybe because I'm a developer and work in software, but I really don't think people understand that development is an iterative process.  Things are constantly being worked on and updated. Be happy you have a GUI wallet and as much functionality as there is....

SIA has one really great thing going for it, if finished.

Decentralized storage has many real life applications.
The potential here is mindblowingly huge.

Ha!  That's exactly what caught my eye the first time I read the OP: their goals for the future. "The long term goal of Sia is to become a serious competitor to existing cloud storage platforms, including Dropbox,
Google Drive, and OneDrive. We envision a future where even massive services such as Netflix and YouTube will use Sia to
deliver the best user experience to their customers."

What an awesome aspiration.  Sure, it's ambitious.  But it at least looks achievable. The tech behind the coin is really impressive, and I'm excited to see what this looks like in year's time.

Yes this is very ambitious and in a good way. But it not yet close to achievable for the time being. Sia's greatest hurdle is scalability.  Until they get past that hurdle, this project is an experiment at best. I am not saying it has no value, it does. But not in the way we think of it. All dreams and promises are still that. But we have to start somewhere.

[pufuletz]

has the difficulty adjusted - no more miner mega dumps?