[ANN] Sia - Decentralized Storage

[MrSunshine]

is there any good news about SIA, I see there has been no price growth for SIA for 2 months and breakout at 100 satoshi

Yes, the contracts on the system are growing at a good rate: https://siastats.info/total_contracts.html

[esconceptsz]

That's pretty good news about Duplicati, I'm almost about ready to start using Sia myself (after mining Sia for ~3 months), I just need it to be a bit easier. I don't want to have to have the UI running, plus I have several computers and SAN storage. Would also like it to be easier to buy storage... and it needs to be explained better what exactly I'm buying. If I set an allowance for 5000 Sia, estimated storage fees are 110.51.SC with estimated~20TB storage. Is that per day, per month? Need a better picture of what I'm getting during the buying process w/o having to go read a FAQ. Need the Staples Easy Button.

How about integration with Synology and ReadyNAS? Path to quick adoption.
 

[Zabivelli]

I am - x5 of my buy price
but still having hope with SIA.
project and intention is good. just dumping killing me

Does ANYONE know what the MAX/total supply of SIA coin is.. circulating supply is 29 billion. What's the max?

None really, but coins are burned in some transaction so it will level out in a few years: https://siastats.info/supply_inflation.html

Dude according to this link you gave me, there will be even more coins..eventually almost 57 billion..how the heack is this going to grow with price?

it's already way too much. Going almost to 30 Billion...it should be the otherway around.

[Hakkane]

That's pretty good news about Duplicati, I'm almost about ready to start using Sia myself (after mining Sia for ~3 months), I just need it to be a bit easier. I don't want to have to have the UI running, plus I have several computers and SAN storage. Would also like it to be easier to buy storage... and it needs to be explained better what exactly I'm buying. If I set an allowance for 5000 Sia, estimated storage fees are 110.51.SC with estimated~20TB storage. Is that per day, per month? Need a better picture of what I'm getting during the buying process w/o having to go read a FAQ. Need the Staples Easy Button.

Check this guide for renting: https://siawiki.tech/renter/using_the_ui_for_renting. The estimated amount of storage you receive for your allowance is for 3 months. It includes auto-renewal by using more funds from your wallet (unless you decide to cancel it).

Dude according to this link you gave me, there will be even more coins..eventually almost 57 billion..how the heack is this going to grow with price?

it's already way too much. Going almost to 30 Billion...it should be the otherway around.

The supply will always increase, as the minimal block reward will be 30000sc. But if you check the inflation chart, that means less and less percentage over the total of coins in circulation every year, below 4% in 2020 for instance. But these predictions do not consider Proof of Burn (it is indicated in the legend at the bottom of the SiaStats link): in a future update hosts will need to burn (removing coins forever) some of their profits to demonstrate they are legit, so the coin can even become deflationary, depending on how many hosts are in the network

[samysamy1]

I am - x5 of my buy price
but still having hope with SIA.
project and intention is good. just dumping killing me

Yeah it's been in a yoyo effect for days.

[Lucky7btc]

I am - x5 of my buy price
but still having hope with SIA.
project and intention is good. just dumping killing me

Yeah it's been in a yoyo effect for days.

I'm predicting a nice rise in price soon...

[BillCoin]

I am - x5 of my buy price
but still having hope with SIA.
project and intention is good. just dumping killing me

How can you be x5 of your buy price?
I mean, now siacoin is being traded at around 100 satoshis which is probably the all time low since it has been announced.
I am pretty much disappointed as I firstly purchase the coin when it peeked up at around 400 sat/sia which was a wrong move by me.

[DOGG]

That's pretty good news about Duplicati, I'm almost about ready to start using Sia myself (after mining Sia for ~3 months), I just need it to be a bit easier. I don't want to have to have the UI running

I believe that the UI only needs to be running to reupload your data in order to maintain redundancy should a host disappear.

EDIT: Forgot to mention that you need to back up a certain SIA folder I believe, in order to retrieve your uploaded data/contracts. So should your sia pc lose it's data, you have no way of downloading your backups.

This will change in the next version to seed based recovery, so that problem will be eliminated. Important step right there. Coming out within the next 2 months I believe.

Dude according to this link you gave me, there will be even more coins..eventually almost 57 billion..how the heack is this going to grow with price?

it's already way too much. Going almost to 30 Billion...it should be the otherway around.

Asides from collateral being burned when hosts go offline, as well as the future proof of burn implementation, consider the fact that coins will be locked up in contracts as collateral. Hosts will need to hold a stockpile of coins just to offer their services. A high collateral means that a host is serious about fulfilling their contracts, thus they could gain more clients as they would be deemed more trustworthy.

[maynasheer]

I did read the white paper on that, but it was above my head...

[MrSunshine]

I am - x5 of my buy price
but still having hope with SIA.
project and intention is good. just dumping killing me

How can you be x5 of your buy price?
I mean, now siacoin is being traded at around 100 satoshis which is probably the all time low since it has been announced.
I am pretty much disappointed as I firstly purchase the coin when it peeked up at around 400 sat/sia which was a wrong move by me.

Seriously, do you know how to read a chart? I am up 12x in USD because I bought in February.

[Bouli]

Everyday i see the chart, more disappointment i feel...
looks like will stop looking at charts for next few weeks

Make a plan for yourself, looking every day wont help. Look again in 2-3 years.

[MrSunshine]

Everyday i see the chart, more disappointment i feel...
looks like will stop looking at charts for next few weeks

In Fiat terms it seems to have hit bottom Sept 15, so it looks fine too me, give it some time.

[DOGG]

Good news. New pool with 10% profits going to devs.

By mining with Luxor, you are directly supporting the Siacoin ecosystem. We have agreed to a partnership with Nebulous Labs to donate 10% of our profit directly back to the developers.

https://medium.com/@nitronick600/introducing-luxor-mining-31b8cb83e21f

[trunghieu250688]

Good news. New pool with 10% profits going to devs.

By mining with Luxor, you are directly supporting the Siacoin ecosystem. We have agreed to a partnership with Nebulous Labs to donate 10% of our profit directly back to the developers.

https://medium.com/@nitronick600/introducing-luxor-mining-31b8cb83e21f

Hi
So should I sell or hodl my SC? I bought at 125

[Branko]

Someone dumped huge amount on Poloniex?

[error808]

I bought too got excess of over 1million + SC and my average break even is 566 Sats :| bought it around July time

Looking at the chart it hurts bad!

I am tempted to either

a) Buy more to bring my average down so i can try and either minimise my losses and exit quicker (Once price increases which no doubt i am confident it will)
b) Just wait and hope

I am probably going to do both, I see SC doing what DGB did last January completely flopped and went to a really all time low  for a few months- remember DGB at 20 sats last january 2017 before rallying to 2000+ few months later

I am in a position where i can afford to hold long term ( I am a long term holder for all my coins ) Held DGB for 15 Months and paid off really well in the end.

Tough i know and at times i have been tempted over the past few weeks to dump it all and try and recoup the losses by flipping on other coins, however though I have a lot to lose and not in a position for this to be a really bad trade

So I will just Hold Hold Hold till the price increases which i believe it will When is another question but i am prepared to wait another 6-10months with this coin lol

So for now i will accumulate more to try and bring my average down and hopefully once i hit breakeven and my average or bit above then i will exit

[CryptoRobert]

I bought too got excess of over 1million + SC and my average break even is 566 Sats :| bought it around July time

Looking at the chart it hurts bad!

I am tempted to either

a) Buy more to bring my average down so i can try and either minimise my losses and exit quicker (Once price increases which no doubt i am confident it will)
b) Just wait and hope

I am probably going to do both, I see SC doing what DGB did last January completely flopped and went to a really all time low  for a few months- remember DGB at 20 sats last january 2017 before rallying to 2000+ few months later

I am in a position where i can afford to hold long term ( I am a long term holder for all my coins ) Held DGB for 15 Months and paid off really well in the end.

Tough i know and at times i have been tempted over the past few weeks to dump it all and try and recoup the losses by flipping on other coins, however though I have a lot to lose and not in a position for this to be a really bad trade

So I will just Hold Hold Hold till the price increases which i believe it will When is another question but i am prepared to wait another 6-10months with this coin lol

So for now i will accumulate more to try and bring my average down and hopefully once i hit breakeven and my average or bit above then i will exit

Usually when I am losing 70%-80'% on any assett I stubborny hold, since the risk of losing the last 20%-30% of my money is a letter pain than the risk of not getting back my vanished 70%-80'% if/when price will be up again.

[HitTheLow]

I bought too got excess of over 1million + SC and my average break even is 566 Sats :| bought it around July time

Looking at the chart it hurts bad!

I am tempted to either

a) Buy more to bring my average down so i can try and either minimise my losses and exit quicker (Once price increases which no doubt i am confident it will)
b) Just wait and hope

I am probably going to do both, I see SC doing what DGB did last January completely flopped and went to a really all time low  for a few months- remember DGB at 20 sats last january 2017 before rallying to 2000+ few months later

I am in a position where i can afford to hold long term ( I am a long term holder for all my coins ) Held DGB for 15 Months and paid off really well in the end.

Tough i know and at times i have been tempted over the past few weeks to dump it all and try and recoup the losses by flipping on other coins, however though I have a lot to lose and not in a position for this to be a really bad trade

So I will just Hold Hold Hold till the price increases which i believe it will When is another question but i am prepared to wait another 6-10months with this coin lol

So for now i will accumulate more to try and bring my average down and hopefully once i hit breakeven and my average or bit above then i will exit

Usually when I am losing 70%-80'% on any assett I stubborny hold, since the risk of losing the last 20%-30% of my money is a letter pain than the risk of not getting back my vanished 70%-80'% if/when price will be up again.

is it possible that SIA will be back? which plans on dev?

[Cryptopriest]

Usually when I am losing 70%-80'% on any assett I stubborny hold, since the risk of losing the last 20%-30% of my money is a letter pain than the risk of not getting back my vanished 70%-80'% if/when price will be up again.

I couldn't agree more, and  i have a feeling we haven't seen the last of sia.

[MrSunshine]

Usually when I am losing 70%-80'% on any assett I stubborny hold, since the risk of losing the last 20%-30% of my money is a letter pain than the risk of not getting back my vanished 70%-80'% if/when price will be up again.

I couldn't agree more, and  i have a feeling we haven't seen the last of sia.

If SIA makes progress as the storage protocol of the Internet, expect big things from SIA. The run up it had was excessive and it has gone back to May levels just like many other coins. I am holding for the long term (2+ years).