[ANN] Sia - Decentralized Storage

[Lionel]

These days I was asked the real difference from Filecoin to Siacon! Are there differences? Who is a step forward? Regarding decentralization, Siacoin is the first in this area! The game of preferences in Filecoin is annoying.

Filecoin seems not to be open-source, and that's a big drawback compared to Sia for many reasons.

Being closed-source is a single point of failure, because if the Filecoin guys get arrested the project dies and all users lose their files.

With Sia coin this will not happen because if they get arrested someone else has the source code and can revive the project.

So i can say that Filecoin is not truly decentrralized, while Sia is.

Being open-source is the first thing needed to have a decentralized system.
Non sufficient but necessary

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[Lionel]

After looking at the website, those prices are pretty cheap compared to DropBox, Amazon and others. I'm very tempted in trying it out. I'm just confused by all the negative talk, since it looks great.

Me too i don't understand why they say it's not profitable to sell your disk storage on Sia.
As long as YOU define the price you can make it profitable, no?

Of course there is a limit, as you can not ask the same price as Amazon and others.
I think Onedrive is the cheapest one among them but still expensive, and Sia i hope can offer cheaper solutions

[Lionel]

shit coin which has the only use of selling miners for its parent company.

someday it will be worth 1 sat.

dump this shit.

So you think that the file storage features are just been added to give value to their blockchain, and as a consequence to the coin itself so that they can keep selling miners?

Well,.. if the file storage system is useful for the people, i don't see why all of this is bad.
The miner company eventually will make money because of this, but they would deserve it,... as long as they give the people a better file cloud service that was not invented before

[rido]

It might be a good Taek, but it's great if you make the redemption list now, so they can make sure now for our transfers that passed before the drop.

[obszoenling]

These days I was asked the real difference from Filecoin to Siacon! Are there differences? Who is a step forward? Regarding decentralization, Siacoin is the first in this area! The game of preferences in Filecoin is annoying.

The difference is that Sias product actually exists.

[Jayjay04]

Filecoin is the old trick of smoke and mirrors.

Do not invest and read and re-read this :

https://medium.com/token-economy/the-analysis-filecoin-doesnt-want-you-to-read-e60d5243f17c

[marilyngroom]

Filecoin is the old trick of smoke and mirrors.

Do not invest and read and re-read this :

https://medium.com/token-economy/the-analysis-filecoin-doesnt-want-you-to-read-e60d5243f17c

Good read. I really don't understand why anyone would invest in these uncapped ICOs worth hundreds of millions of dollars. Especially ones where the Dev get to keep such a high percentage of the coins.

As time passes by the norm has increase, despite no coins ever needing this much money to code.

Look at Nem. Look at what they built with essentially nothing.

I'm just disgusted with the current setting.

[Hakkane]

I pointed out many times why siacoin's service (file hosting) isn't profitable neither for the host nor for the user.

It's unfit to any kind of long term storage, and even less as a short term one.

And we have pointed out many times why you are incorrect, and you never dare to follow the debate, because you don't really care and your goal is simply spreading FUD on every thread that speaks about Sia. If you are salty because the value of Sia is not what you would like and you lost whatever money you claim you have lost, it is your entirely bad for selling at a price lower than you bought it or mined it.

It is profitable for the host. Even if we consider a price of $1/Tb/month. You can buy enterprise-grade HDDs at less than $25/Tb and they are prepared to last more than 5 years. A ROI of 2 years (or less) is perfectly acceptable if your HDDs are going to last more than 5 years. Hosting is not like mining were difficulty increases over time. In hoisting, if you stay ompetitive you'll keep getting contracts forever. And electricity costs are irrelevant: a good HDD of 4Tb or even 8Tb will consume less than 3W

It is profitable for renter. People incorrectly compares Sia to Onedrive, Google storage or other costumers solutions that are "free" or very cheap. Companies can't use those solutions and have to purchase storage to Amazon ($23/Tb/month), Azure ($30) or Akamai ($50). Do you know how much is paying a renter right now in Sia? 250SC/Tb/month, roughly $2. And with the advantages of encryption, decentralization, and low latency due to the huge world-wide distributed network of hosts

[vortexz]

Do you think sia has already bottomed out? And is ready for taking off again?

[Daemon1987]

I feel like it bottomed, i will join back in again. I hope the devs are making some real tech proggress

[Blurb]

Anyone know what is up with Cryptopia?

"SC / BTC market is closing

Due to ongoing transaction issuesSiaCoin(SC) has been scheduled for delist, please close all open orders and withdraw your coins before 24/09/2017"

[Lionel]

Can you tell me about reliability/redundancy?

What happens if the node that has my files goes offline forever? Will i lose my files or are there other copies of them in the network ?

I don't pretend that SIA duplicates my uploaded file to every node of the network, that would be unsustainable, but at least i want to know how many
 redundant copies are there.

That is important because , unlikely Onedrive/Gdrive etc.,  a P2P network like SIA has poor uptime for each node, i.e. each node is not always online and there's no guarantee that it will keep working with SIA forever , while Onedrive servers have 99.9% uptime and will be there forever.
So i think that some redundancy is needed for a P2P cloud storage, i just want to know if SIA has it.

I would pay more than 2$/month but i want to be sure that i won't lose my files.

[Hakkane]

Can you tell me about reliability/redundancy?

What happens if the node that has my files goes offline forever? Will i lose my files or are there other copies of them in the network ?

I don't pretend that SIA duplicates my uploaded file to every node of the network, that would be unsustainable, but at least i want to know how many
 redundant copies are there.

That is important because , unlikely Onedrive/Gdrive etc.,  a P2P network like SIA has poor uptime for each node, i.e. each node is not always online and there's no guarantee that it will keep working with SIA forever , while Onedrive servers have 99.9% uptime and will be there forever.
So i think that some redundancy is needed for a P2P cloud storage, i just want to know if SIA has it.

I would pay more than 2$/month but i want to be sure that i won't lose my files.

What happens if a host goes offline? Absolutely nothing for you in terms of file availability. Each file is uploaded to 30 different hosts by dividing it in chunks and sending each chunk to 3 different hosts (a redundancy of 3x). The algorithm that distributes the chunks is called Reed-Solomon, and ensures that 20 of those 30 hosts can go offline and you still will have access to your files.

But moreover, in Sia hosts are heavily de-incentivized to go offline. Each host is risking collateral when you make a contract with them (several times bigger than your payment), and if they don't keep an uptime of 97%, that collateral will be lost.

So you see, hosts in Sia keep each one of them an uptime of 97% (at least) and you only need 10 out of 30 to recover your files. That is an availability of your files bigger than 99.9%

[Asyifiah]

I'm stuck on a hill. I bought SC coins at the price of 200 Satoshi. Should I cut loss or buy back again at the current price ? I'm really confused please give me a good recommendation. Thanks.

[startsts]

What happened to Cryptopia?

[thisisespria]

Do you think sia has already bottomed out? And is ready for taking off again?

Yes, sia will come back soon. Don't forget how fast it was rising a couple months ago.

[finist4x]

Friends! Support your SIA...

https://bitcointalk.org/index.php?topic=1948108.msg21058883#msg21058883

[Lionel]

Can you tell me about reliability/redundancy?

What happens if the node that has my files goes offline forever? Will i lose my files or are there other copies of them in the network ?

I don't pretend that SIA duplicates my uploaded file to every node of the network, that would be unsustainable, but at least i want to know how many
 redundant copies are there.

That is important because , unlikely Onedrive/Gdrive etc.,  a P2P network like SIA has poor uptime for each node, i.e. each node is not always online and there's no guarantee that it will keep working with SIA forever , while Onedrive servers have 99.9% uptime and will be there forever.
So i think that some redundancy is needed for a P2P cloud storage, i just want to know if SIA has it.

I would pay more than 2$/month but i want to be sure that i won't lose my files.

What happens if a host goes offline? Absolutely nothing for you in terms of file availability. Each file is uploaded to 30 different hosts by dividing it in chunks and sending each chunk to 3 different hosts (a redundancy of 3x). The algorithm that distributes the chunks is called Reed-Solomon, and ensures that 20 of those 30 hosts can go offline and you still will have access to your files.

But moreover, in Sia hosts are heavily de-incentivized to go offline. Each host is risking collateral when you make a contract with them (several times bigger than your payment), and if they don't keep an uptime of 97%, that collateral will be lost.

So you see, hosts in Sia keep each one of them an uptime of 97% (at least) and you only need 10 out of 30 to recover your files. That is an availability of your files bigger than 99.9%

This sounds so awesome.

I don't understand why the price is dropping and people are giving negative feedback at this point..

[Hakkane]

This sounds so awesome.

I don't understand why the price is dropping and people are giving negative feedback at this point..

Moreover: if a host goes offline for a long time or proves he is no longer keeping your data (and no trust is needed here, because hosts need submit proofs of storage to the blockchain), your client will automatically recruit a new host and upload the missing chunks of files to it. And you don't even need to keep that file locally on your computer for this to happen. It is called File Repair.

Why negative feedback? Signature spammers that post the first thing that crosses their mind, traders with their tribulations that can't see every other coin has dropped too because BTC has duplicated its value and that money has to come from somewhere, eventual trolls...

This technology is out there, it is real, it is working, it has very good chances of becoming the standard of online storage...

[TeslaSEO]

This sounds so awesome.

I don't understand why the price is dropping and people are giving negative feedback at this point..

Moreover: if a host goes offline for a long time or proves he is no longer keeping your data (and no trust is needed here, because hosts need submit proofs of storage to the blockchain), your client will automatically recruit a new host and upload the missing chunks of files to it. And you don't even need to keep that file locally on your computer for this to happen. It is called File Repair.

Why negative feedback? Signature spammers that post the first thing that crosses their mind, traders with their tribulations that can't see every other coin has dropped too because BTC has duplicated its value and that money has to come from somewhere, eventual trolls...

This technology is out there, it is real, it is working, it has very good chances of becoming the standard of online storage...

Sia needs support now.
Price dropping huge. I did not sell at 780. Still holding, otherwise we kill this idea.