[ANN] Sia - Decentralized Storage

[Hakkane]

this coin is like a dry tree slowly to death. there are still many better coins than this, think before it's too late.

Almost 5x growth in the number of file contracts in the last 6 months. Source: https://www.siastats.info/active_contracts.html

If Sia is dead, then it looks like the corpse is making a lot of noise!. Some people would even say there is a party inside the coffin  

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[raoulsergia]

this coin is like a dry tree slowly to death. there are still many better coins than this, think before it's too late.

Almost 5x growth in the number of file contracts in the last 6 months. Source: https://www.siastats.info/active_contracts.html

If Sia is dead, then it looks like the corpse is making a lot of noise!. Some people would even say there is a party inside the coffin  

Hahaha xD Sia is growing in all ways, except the price 

but seriously the no of contracts should go elliptical and then SC would boom, still holding onto a ton of it mined

well not a ton in btc but a ton in sia haha

any plans for coin burn soon?

[wgd]

sia is the biggest ****coin the last few months, whether btc up or down. Sia falls and falls, very sad that I bought this project

burn probably the price

[Hakkane]

any plans for coin burn soon?

When a host misses the uptime requirement of about 97%, its collateral is currently being burnt. Additionally, in a future update Proof of Burn mechanics will be introduced for hosts: they'll have to burn a part of their profits for proving they are legit (and so avoiding Sybil attacks).

It is not possible to predict how many coins will be burnt, as it will depend on how much storage space is being used. But if the network usage is big enough, PoB could counteract the mining coin supply and make Siacoin deflationary.

[wgd]

any plans for coin burn soon?

When a host misses the uptime requirement of about 97%, its collateral is currently being burnt. Additionally, in a future update Proof of Burn mechanics will be introduced for hosts: they'll have to burn a part of their profits for proving they are legit (and so avoiding Sybil attacks).

It is not possible to predict how many coins will be burnt, as it will depend on how much storage space is being used. But if the network usage is big enough, PoB could counteract the mining coin supply and make Siacoin deflationary.

when will it work? How sia valuation for 2 satoshi be? Investors are concerned about what is going on around the project

[Zer0Sum]

Here's the best analysis of the p2p storage niche I've read so far...
Analyzing Filecoin, Swarm, Storj, SAFE and Sia.

They expect Filecoin to grab an 80% market share in 12-18 months...
But feel there will lots of room for small players to thrive.

Swarm will have the huge advantage of full Ethereum intgration...
Storj has many user friendly features...
Sia has many unique design features including PoW, but usability is an afterthought...
SAFE is written off as "in perpetual R&D".

https://multicoin.capital/2017/09/27/state-decentralized-storage/

[Hakkane]

when will it work? How sia valuation for 2 satoshi be? Investors are concerned about what is going on around the project

It is on the roadmap, but it is not a priority for the next upates.

Why are you concerned? Has anything bad really significative happened to Sia recently? No. Have you been reading lately the news around Sia?

Let's recap the last months:

- Today Obelisk (subsidiary of Nebulous, the company of core developers) has announced an ASIC for Decred. While it does not affect directly Sia, at will inject more money into Nebulous, securing the future of Sia. Moreover, the SC1 ASIC for Sia has announce they will triple the hashing rates. This means GPU mining will be totally out of the mining scene in Sia, securing much more the network. https://blog.sia.tech/november-obelisk-update-4216c77a5356

- Early this week RNDR announced they will use the Sia network for storing the rendering works of their network: https://medium.com/@rendertoken/rndr-sia-edc39df03c31

- Last month a new developer was hired for the Sia team

- Last month, Luxor developers launched a mining pool that pays the fees to the core developers, further increasing their sustainability (miners, consider joining Luxor: http://mining.luxor.tech/)

- Last month 3 services that use the Sia storage layer were released, including Pixeldrain and SiaCDN

- Core developers are progressing on version 1.3.1 of the client: they are rewriting almost all the code for renters, what will increase considerably the speed and reliability of uploading files to Sia. The version 1.4 that includes a redesign of the UI and file sharing most probably will not be ready this month, but actually 1.3.1 is going to include some features that were originally planned for 1.4

- Luxor developers are making huge advancements in the new Explorer code. That means that a full blockchain explorer and a Lite client are closer than ever

- Check the roadmap: https://trello.com/b/Io1dDyuI/sia-public-roadmap Take a look of all the features to be implemented in the next 18 months.

- Do you want to check more statistics about the usage and the health of the network? check https://siastats.info : all of them show growth in adoption and a healthy network.

I ask you again: has anything bad happened to Sia? No. Has anything relevant happened that could change our trust in the project. Yes, but all of them in the good direction.

What is going on then? Altcoins are in a blood bath because everybody wants to buy Bitcoins ahead of the forks, so they have to sell their alts. And you are comparing Sia with another coin that has increased its value 7x in the current year. By no means you can use Bitcoin as a reference for the value of other cryptos. I am shocked some investors in cryptos are not able to understand this.

Some investors might be panicking, but yet the project is stronger than ever.

[MR,bon]

information I received is it true ?. maybe yes, maybe not, not necessarily true

[wudafuxup]

The worst decision they made was to release ASICs for the coin. I know atleast 3 close friends who completely left the project as soon as they learned about it. I wish I followed their footsteps.

[DroidR17A]

The worst decision they made was to release ASICs for the coin. I know atleast 3 close friends who completely left the project as soon as they learned about it. I wish I followed their footsteps.

Why? If it's a proprietary, custom design, available for anyone to order, it can still be a level playing field and not necessarily BTC centralization type of situation.  Plus GPU hashing is incredibly power and heat intensive, making it far more eco friendly.

[wudafuxup]

The worst decision they made was to release ASICs for the coin. I know atleast 3 close friends who completely left the project as soon as they learned about it. I wish I followed their footsteps.

Why? If it's a proprietary, custom design, available for anyone to order, it can still be a level playing field and not necessarily BTC centralization type of situation.  Plus GPU hashing is incredibly power and heat intensive, making it far more eco friendly.

The fact that it's proprietary itself is a big turn off for a lot of people. I understand it is available to everyone but lets be realistic here. The average crypto hobbiest isn't going to invest money into a asic that will devalue in price faster than a brand new car. That deters a huge part of the population away from a coin that was once mineable by anyone with a computer and internet access. The whole point of a crypto asset/global ledger is to be atainable by everyone, not by a few who are well enough to risk a investment loss by purchasing said asic.

[DroidR17A]

The worst decision they made was to release ASICs for the coin. I know atleast 3 close friends who completely left the project as soon as they learned about it. I wish I followed their footsteps.

Why? If it's a proprietary, custom design, available for anyone to order, it can still be a level playing field and not necessarily BTC centralization type of situation.  Plus GPU hashing is incredibly power and heat intensive, making it far more eco friendly.

The fact that it's proprietary itself is a big turn off for a lot of people. I understand it is available to everyone but lets be realistic here. The average crypto hobbiest isn't going to invest money into a asic that will devalue in price faster than a brand new car. That deters a huge part of the population away from a coin that was once mineable by anyone with a computer and internet access. The whole point of a crypto asset/global ledger is to be atainable by everyone, not by a few who are well enough to risk a investment loss by purchasing said asic.

You make a good point but at the same time, to mine with GPUs at a meaningful hashrateyou still need fairly expensive equipment. Equipment that is likely to fail much faster - like one of my EVGA 1070 GTX FTWs that burst into flames a few days ago, after less than three months of use - so that's $500 down the drain. Also, based on the electricity rates where I live ($0.19 Kw/h), 50% of the cost is balanced out just on the running costs over a year.

[marketone]

any plans for coin burn soon?

When a host misses the uptime requirement of about 97%, its collateral is currently being burnt. Additionally, in a future update Proof of Burn mechanics will be introduced for hosts: they'll have to burn a part of their profits for proving they are legit (and so avoiding Sybil attacks).

It is not possible to predict how many coins will be burnt, as it will depend on how much storage space is being used. But if the network usage is big enough, PoB could counteract the mining coin supply and make Siacoin deflationary.

when will it work? How sia valuation for 2 satoshi be? Investors are concerned about what is going on around the project

Yes, people are kept waiting from many days and don't have any idea about the future of the SIA coin. I think we have to leave sia because there is no further movement from this coin. Simply we are wasting lot of time and money.

[DOGG]

Is there any Slack/Telegram group to talk with the dev easily???

sia Discord server

[DOGG]

Here's the best analysis of the p2p storage niche I've read so far...
Analyzing Filecoin, Swarm, Storj, SAFE and Sia.

They expect Filecoin to grab an 80% market share in 12-18 months...
But feel there will lots of room for small players to thrive.

Swarm will have the huge advantage of full Ethereum intgration...
Storj has many user friendly features...
Sia has many unique design features including PoW, but usability is an afterthought...
SAFE is written off as "in perpetual R&D".

https://multicoin.capital/2017/09/27/state-decentralized-storage/

and now, eos.io

[rearendvague]

Which currency will be accepted during the ICO?

[MR,bon]

warning: think smart, siacoin countdown from now coin this will be destroyed.

[Xantopher]

I don't think sia can grow up again in the near future. 

Why do people keep coming into this thread with FUD, without doing any research? Sia can definitely grow in the future.

[Hakkane]

Has the coin really been developed? Has it useful for community with Sia's services?

Yes, Sia is one of the few crypto projects that can brag it has a working product, and actually it has been working for the last 2 years. Currently the storage network is 3.3 Petabytes big with 100TB being used. You can download the client and start uploading your files or offering your some disk space and be paid for that. This chart shows the growth of the used storage network:

Which currency will be accepted during the ICO?

The ICO was over 3 years and half ago...  It was not for Siacoins, but for the second asset of the network, the SiaFunds. 1130 were sold at 0.5BTC ($192 at that time). Siacoins were never offered in an ICO: it is a mined coin, and developer team only pre-mined 100 blocks.

Does the team have experience in this sphere?

The co-founder worked for a while on IBM. All of them were MIT students. At this points all of them have experience on the field... because Sia is already a working product 

[rattle99]

one thing that really sucks is that you need atleast 50K siacoins to start renting out your disk space.