[ANN] Sia - Decentralized Storage

[Branko]

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

There were plans for new software version in September, but postponed to November, there should soon be out
NAS based on SIA, and in about half a year there will be ASIC out

Whats funny is that this dramatic fall coincided with Duplicati integration...usually news like that drive price up

[aoluain]

i am wondering also if SIA is a real slow burner?
this thread seems very quiet with very little updates.

I think there are a lot of people hoping that work is
progressing in the background.

[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

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

That's a low price, lower than my average. I bought about half my coins at 119 average.

And I plan on either selling off half on the next big pump and rebuying once it drops, or holding long term.

Since I first invested in Sia, the thinking was always long term, because the potential for this coin is high.

I reckon 2 to 3 years and the coin will be widespread.

[Razoo]

Maybe SIA should think of doing some fundraising on fundagoal. Everything else they're trying to do doesn't seem to be working out for them.

[Aquazi]

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).

It won't.

-needs more space

-it's slower, you can't expect people sharing their free space to have good connections to make anything even closely resembling real time or near real time applications

-it's not user friendly as standard cloud solutions

-you can't give a siacoin bill to accounting

-price fluctuations make adopting siacoin as an enterprise solution impossible

I just don't see any real use case for Sia.

This coin is just a scam for the holding company to sell miners.

You can all masturbate and try to pump it with positive posts all you want, but Siacoin is a weak coin without any use case.

I'd argue you could make much better ERC20 tokens for the same use case.

I expect it to soon go below 100 sats and I can hardly see a situation where it will go over 250-300 ever again, especially with the current Bitcoin's price.

[Hakkane]

You are back, we were missing you and your FUD!!! It has been like 3 weeks without posting here, I was concerned about you 

-needs more space

False. So far 3.2 PetaBytes are available of which only 3% is being used (https://siastats.info/hosts_network.html). Hosts are not offering more space because the demand is still small. Let the demand grow and you'll see hundreds of hosts adding their storage to the network

-it's slower, you can't expect people sharing their free space to have good connections to make anything even closely resembling real time or near real time applications

False. Each file is spread among 30 hosts, and when you download, you receive chunks of the file from all of them at the same time. That's the power of distribution and decentralization

-it's not user friendly as standard cloud solutions

No need for it, you are missing the point. Sia is targeted to companies (they have IT teams) and to storage providers that will create cloud storage solutions user-oriented using the Sia storage layer. The final users will not see the Sia network or even know it exists

-you can't give a siacoin bill to accounting

But you can give the receipts of your coin exchange. Besides, developers are creating applications on top of Sia accepting FIAT as a payment, doing all the conversion and Sia managing behind the scenes. Users will have no need to know what Sia or Siacoins are.

-price fluctuations make adopting siacoin as an enterprise solution impossible

False. Storage price is independent of Siacoin price fluctuation, as hosts select their own pricing, adjusting it to dollar prices: https://siastats.info/storage_pricing.html. The companies just need to buy Siacoin on the go (or not if you read my previous points) and they will be paying the same final amount in dollars.

I just don't see any real use case for Sia.

Just clean your glasses then. Cloud storage is a multi-billion business with a grow projection of several folds in the next years due to the increase use big media formats, streaming, AI and machine learning...

I'd argue you could make much better ERC20 tokens for the same use case.

And then the destiny of your network would be tied to a different blockchain that you don't control, can collapse, can make operations extremely expensive due to Gas expenses and have a very concerning trend to hard-forking the network every few months. Some small tokens can do good inside an external blockchain. But big projects require their own blockchain for security

i am wondering also if SIA is a real slow burner?
this thread seems very quiet with very little updates.

The thread is quiet because Bitcointalk is not an official channel. I recommend you instead checking the Discord or the Reddit

Maybe SIA should think of doing some fundraising on fundagoal. Everything else they're trying to do doesn't seem to be working out for them.

They have no need of fundraising right now: They have VC investors, grants, the operational benefits of ASIC manufacturing and now a mining pool (Luxor) that donates them. In the long term, they own SiaFunds as an economic incentive to succeed in the general adoption of Sia.

[Aquazi]

You are back, we were missing you and your FUD!!! It has been like 3 weeks without posting here, I was concerned about you 

False. So far 3.2 PetaBytes are available of which only 3% is being used (https://siastats.info/hosts_network.html). Hosts are not offering more space because the demand is still small. Let the demand grow and you'll see hundreds of hosts adding their storage to the network

Needs more space because you need to encrypt it and you need redundancy.

False. Each file is spread among 30 hosts, and when you download, you receive chunks of the file from all of them at the same time. That's the power of distribution and decentralization

You have to pay for the redundancy, you know that, right?

Plus, none of that can compare with enterprise solutions since AWS. It's not even the same league.

No need for it, you are missing the point. Sia is targeted to companies (they have IT teams) and to storage providers that will create cloud storage solutions user-oriented using the Sia storage layer. The final users will not see the Sia network or even know it exists

No major company will ever use sia network to host those files in the next 2 years.

I'm willing to bet half an ETH with you on that, we can use an escrow and I put the money right in

But you can give the receipts of your coin exchange. Besides, developers are creating applications on top of Sia accepting FIAT as a payment, doing all the conversion and Sia managing behind the scenes. Users will have no need to know what Sia or Siacoins are.

That's still unbillable and you cannot deduct it from taxes

False. Storage price is independent of Siacoin price fluctuation, as hosts select their own pricing, adjusting it to dollar prices: https://siastats.info/storage_pricing.html. The companies just need to buy Siacoin on the go (or not if you read my previous points) and they will be paying the same final amount in dollars.

True. The

Just clean your glasses then. Cloud storage is a multi-billion business with a grow projection of several folds in the next years due to the increase use big media formats, streaming, AI and machine learning...

Sia doesn't offer anything that other cloud storage solutions offer:
-more reliably
-cheaper

And big companies store in house most of their files.

And then the destiny of your network would be tied to a different blockchain that you don't control, can collapse, can make operations extremely expensive due to Gas expenses and have a very concerning trend to hard-forking the network every few months. Some small tokens can do good inside an external blockchain. But big projects require their own blockchain for security

You don't control Sia either. What's your point?

In the end:

-hosting on sia isn't cheaper than standard solutions (especially when we consider bandwidth)
-hosting on sia isn't enterprise friendly and it's straight useless for whoever needs even a mediocre amount of I/O
-hosting on sia doesn't give you any financial benefit or tax deduction


You want to keep saying otherwise?

I'm willing to give half an ETH to an escrow if you do so as well and in one year the loser takes it all

[Hakkane]

Needs more space because you need to encrypt it and you need redundancy.

Including the 3x redundancy, the network usage in 3%. There are 3 Petabytes still available, and be sure hosts will add more disks, and new hosts will be attracted, as soon as the usage grows. BTW, encryption does not increase substantially the size of the file.

You have to pay for the redundancy, you know that, right?

Oh, I am absolutely aware of that! And do you know how much are renters currently paying including the 3x redundancy? $1/Tb/month: https://www.siastats.info/storage_pricing.html . And $0.20/TB in bandwidth costs.

Besides, we were speaking about download speeds, not prices. And about speeds, having 30 hosts for each file means you have the combined upload speeds of all of them for your download

No major company will ever use sia network to host those files in the next 2 years.

I'm willing to bet half an ETH with you on that, we can use an escrow and I put the money right in Wink

Nice for you that you have a crystal ball. I hope it is making you rich!.

I am not into betting. I am more into facts and data. And speaking about "no one using the Sia network", take a look at the evolution of active contracts: https://www.siastats.info/active_contracts.html

That's still unbillable and you cannot deduct it from taxes Wink

If you make a purchase in FIAT using Paypal (for example), of course you can present those bills. And there are already several developers working on those platforms that will accept FIAT for using Sia storage

Sia doesn't offer anything that other cloud storage solutions offer:
-more reliably
-cheaper

Sia offers both:

- Reliability: collateralizing hosts they are incentivized to keep 97% uptime (otherwise they lose large amounts of Siacoin). Being only 10 out of 30 hosts required to retrieve the file (Reed-Solomon redundancy), 99.9%+ uptime for your files is guaranteed
- Cheaper: How many times are you going to insist on this lie? $1/TB/month is what a renter on Sia pays including the 3x redundancy (https://www.siastats.info/storage_pricing.html). Compare this to $23/TB/month in Amazon, $30 in Azure or $50 in Akami

And additionally to traditional services:

- Native encryption. No company or government will access your files
- Decentralization. No single point of failure or closing provider will terminate your access to the files

-hosting on sia isn't cheaper than standard solutions (especially when we consider bandwidth)

Do you know AWS asks for $10/Tb in bandwidth while Sia only $0.20/TB?   I have already presented twice the comparison in storage pricing


Are you going to debate these points like any reasonable user or instead you will ignore this and come back in a few weeks to tell the same lies and misunderstandings again and again as you have been doing in the past?

[vortexz]

i am standing at 20% of my buy price..
should have kept stop loss for it...

[detectiveduck]

What's the latest new for sia? Had a baaaad run...

[amktt]

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

a hero member that cant read the chart ?? wtf dude start learning please

[Aquazi]

Needs more space because you need to encrypt it and you need redundancy.

Including the 3x redundancy, the network usage in 3%. There are 3 Petabytes still available, and be sure hosts will add more disks, and new hosts will be attracted, as soon as the usage grows. BTW, encryption does not increase substantially the size of the file.

You have to pay for the redundancy, you know that, right?

Oh, I am absolutely aware of that! And do you know how much are renters currently paying including the 3x redundancy? $1/Tb/month: https://www.siastats.info/storage_pricing.html . And $0.20/TB in bandwidth costs.

Besides, we were speaking about download speeds, not prices. And about speeds, having 30 hosts for each file means you have the combined upload speeds of all of them for your download

No major company will ever use sia network to host those files in the next 2 years.

I'm willing to bet half an ETH with you on that, we can use an escrow and I put the money right in Wink

Nice for you that you have a crystal ball. I hope it is making you rich!.

I am not into betting. I am more into facts and data. And speaking about "no one using the Sia network", take a look at the evolution of active contracts: https://www.siastats.info/active_contracts.html

That's still unbillable and you cannot deduct it from taxes Wink

If you make a purchase in FIAT using Paypal (for example), of course you can present those bills. And there are already several developers working on those platforms that will accept FIAT for using Sia storage

Sia doesn't offer anything that other cloud storage solutions offer:
-more reliably
-cheaper

Sia offers both:

- Reliability: collateralizing hosts they are incentivized to keep 97% uptime (otherwise they lose large amounts of Siacoin). Being only 10 out of 30 hosts required to retrieve the file (Reed-Solomon redundancy), 99.9%+ uptime for your files is guaranteed
- Cheaper: How many times are you going to insist on this lie? $1/TB/month is what a renter on Sia pays including the 3x redundancy (https://www.siastats.info/storage_pricing.html). Compare this to $23/TB/month in Amazon, $30 in Azure or $50 in Akami

And additionally to traditional services:

- Native encryption. No company or government will access your files
- Decentralization. No single point of failure or closing provider will terminate your access to the files

-hosting on sia isn't cheaper than standard solutions (especially when we consider bandwidth)

Do you know AWS asks for $10/Tb in bandwidth while Sia only $0.20/TB?   I have already presented twice the comparison in storage pricing


Are you going to debate these points like any reasonable user or instead you will ignore this and come back in a few weeks to tell the same lies and misunderstandings again and again as you have been doing in the past?

Current SC's prices are good for renters, but not the hosts.

Simple math tells us that with a 15 TB hdd farm, I'd make 4.5 usd/month by renting all of those disks. That's based on your very own numbers.

It's not even worth the electricity.

Sia will never be a good hosting solution, it's either unprofitable for the renter or the host.

[Hakkane]

Current SC's prices are good for renters, but not the hosts.

Simple math tells us that with a 15 TB hdd farm, I'd make 4.5 usd/month by renting all of those disks. That's based on your very own numbers.

It's not even worth the electricity.

Sia will never be a good hosting solution, it's either unprofitable for the renter or the host.

Currently the strong competition among hosts has sunk the prices of storage, right, but in the future they can easily stabilize in a fair price good for both sides. Remember: it is the host who decides his own pricing. For instance, let's consider hosts ask for $1-2/TB/month

- For renters, after 3x redundancy, that is $3-6/TB/month, still considerably lower than traditional clouds (3-7x less than Amazon S3). Good business for them

- For hosts: You can find HDDs of NAS-grade quality under $25/TB (or even 20). That means a ROI of 1-2 years. Those disks are prepared for lasting 5 years or more. Unlike mining, when you host there is not a "difficulty factor" that increases over time reducing your earnings. Are you competitive in pricing? You'll get contracts forever. And electricity costs are irrelevant. A good NAS-grade disk consumes under 4-5W, and a whole system with 4x8TB disks for instance will consume less than 50W. ROI is long compared to mining, but it is a more stable and predictable business, so it is good niche for many, specially those that have access to expensive electricity

[DOGG]

What's the latest new for sia? Had a baaaad run...

duplicati integration, minio integration.

new version coming up soon with seed based recovery and ready for cold production level storage.

New pool which donates 10% of its profits to the devs.

[wajik-tempe]

this is a situation that makes me saturated

it's been more than 4 months I waited long enough there will be a pump

but until now there is still no movement that makes me sell 10% that I have

I wonder how long this situation happened

[xibeijan]

Can we have our downloadz yet?

[bitmagic1984]

will it go up ? holding it for a long time.

[samysamy1]

People shouldn't put huge sell orders at low prices. That's just shootin yourself in the feet.

[vanedwap]

when sia coin go to the moon im waiting for the long time until now still no movement how sad my bitisi stuck on sia

[Branko]

People shouldn't put huge sell orders at low prices. That's just shootin yourself in the feet.

If I'd be Microsoft or Amazon, I'd do that to slow SIA down...its change money for them


Actually, they could mine it and even make some profit, while dumping it