[ANN] Sia - Decentralized Storage

[R0mi]

This was a pretty good read. Definitely gives me great hope for Siacoin.
https://blog.sia.tech/response-to-the-sia-community-and-bitmain-653a12284098

It is the right decision, but not a good read.  If the SIA development team thinks it can arbitrarily make certain demands of a powerful competitor, it's not going to work out that way.

Few quick points:

1. "Bitmain is evil because the announcement was made when Team America was sleeping."  Welp, guess what?  They live in another time zone, do the math.

2. "Bitmain is evil because they hold patents."  Anyone care to guess how many patents Apple holds?  Microsoft, Oracle, IBM, HP, Dell... Buford? Buford?  Anyone?

3. "Bitmain should have come to us 60+ days in advance and revealed their business intentions"  If you ever get to the level where you are competing with Bezos over cloud storage, good luck with this fantasy.

4. "Bitmain should have revealed to us in real time how many units they intended to build, how many they had sold, etc., etc."  See above response.

5. "Bitmain is evil because they did not call the A3 a "SIA" miner."  This tells me all I need to know about the mindset of certain people.  Hmm.  Let's think about this one.  Let me put on my lawyer hat for a moment. 

If I, as Bitmain, correctly anticipate that Team SIA might pull some stunt like a hard fork, which would render my miner unable to mine SIA, what is my legal team going to tell me?  "Whatever else you do, don't call it a SIA miner, because the moment it can't mine SIA, you are going to get sued."  Call it instead a Blake2b miner, because if anyone complains in the future, your response is:  I sold you a Blake2b miner, and a Blake2b miner is what you got.  Anticipation of this sort denotes intelligence, and I am sure Team SIA reads this the same way I do.

And finally this:  If I wanted to do battle with a powerful competitor, what possible reason would I have to spell out my battle plan in public 10+ months in advance?  I can think of only one reason.  SIA was smart enough to realize what might happen, therefore they didn't fully fund the project.  They let their customers fund the project because hey, if their fears turn out to be correct and Bitmain scoops them, it is not their money on the line.

No sane business person announces to the world in advance, "Hey, I plan to buy a controlling number of shares in Company X 10 months from now."  Why not you ask?  Because if the rest of the world takes you at your word they will front run the crap out of you.

I've poured over the Reddit postings and it disgusts me.  50% of it is just incredibly juvenile, and 50% is the most cynical, dissembling BS I have read in many a month.

[myc066]

This was a pretty good read. Definitely gives me great hope for Siacoin.
https://blog.sia.tech/response-to-the-sia-community-and-bitmain-653a12284098

It is the right decision, but not a good read.  If the SIA development team thinks it can arbitrarily make certain demands of a powerful competitor, it's not going to work out that way.

Few quick points:

1. "Bitmain is evil because the announcement was made when Team America was sleeping."  Welp, guess what?  They live in another time zone, do the math.

2. "Bitmain is evil because they hold patents."  Anyone care to guess how many patents Apple holds?  Microsoft, Oracle, IBM, HP, Dell... Buford? Buford?  Anyone?

3. "Bitmain should have come to us 60+ days in advance and revealed their business intentions"  If you ever get to the level where you are competing with Bezos over cloud storage, good luck with this fantasy.

4. "Bitmain should have revealed to us in real time how many units they intended to build, how many they had sold, etc., etc."  See above response.

5. "Bitmain is evil because they did not call the A3 a "SIA" miner."  This tells me all I need to know about the mindset of certain people.  Hmm.  Let's think about this one.  Let me put on my lawyer hat for a moment. 

If I, as Bitmain, correctly anticipate that Team SIA might pull some stunt like a hard fork, which would render my miner unable to mine SIA, what is my legal team going to tell me?  "Whatever else you do, don't call it a SIA miner, because the moment it can't mine SIA, you are going to get sued."  Call it instead a Blake2b miner, because if anyone complains in the future, your response is:  I sold you a Blake2b miner, and a Blake2b miner is what you got.  Anticipation of this sort denotes intelligence, and I am sure Team SIA reads this the same way I do.

And finally this:  If I wanted to do battle with a powerful competitor, what possible reason would I have to spell out my battle plan in public 10+ months in advance?  I can think of only one reason.  SIA was smart enough to realize what might happen, therefore they didn't fully fund the project.  They let their customers fund the project because hey, if their fears turn out to be correct and Bitmain scoops them, it is not their money on the line.

No sane business person announces to the world in advance, "Hey, I plan to buy a controlling number of shares in Company X 10 months from now."  Why not you ask?  Because if the rest of the world takes you at your word they will front run the crap out of you.

I've poured over the Reddit postings and it disgusts me.  50% of it is just incredibly juvenile, and 50% is the most cynical, dissembling BS I have read in many a month.

1,Bitmain mining sia since April 2017,Many chinese miners know。I think dev term already know in Aril because https://yunbi.com/
2，If Dev term do not hard fork ,Move Bitmain,They maybe accepted bribes,We need new dev term

[CryptoWaffle]

Are the SIA mining ASICS already coming on the market? This could be the premise to a nice rise in the price of the coin, am I right?

shouldnt more SC on the market create a massive price drop ?

[CryptoWaffle]

This was a pretty good read. Definitely gives me great hope for Siacoin.
https://blog.sia.tech/response-to-the-sia-community-and-bitmain-653a12284098

It is the right decision, but not a good read.  If the SIA development team thinks it can arbitrarily make certain demands of a powerful competitor, it's not going to work out that way.

Few quick points:

1. "Bitmain is evil because the announcement was made when Team America was sleeping."  Welp, guess what?  They live in another time zone, do the math.

2. "Bitmain is evil because they hold patents."  Anyone care to guess how many patents Apple holds?  Microsoft, Oracle, IBM, HP, Dell... Buford? Buford?  Anyone?

3. "Bitmain should have come to us 60+ days in advance and revealed their business intentions"  If you ever get to the level where you are competing with Bezos over cloud storage, good luck with this fantasy.

4. "Bitmain should have revealed to us in real time how many units they intended to build, how many they had sold, etc., etc."  See above response.

5. "Bitmain is evil because they did not call the A3 a "SIA" miner."  This tells me all I need to know about the mindset of certain people.  Hmm.  Let's think about this one.  Let me put on my lawyer hat for a moment. 

If I, as Bitmain, correctly anticipate that Team SIA might pull some stunt like a hard fork, which would render my miner unable to mine SIA, what is my legal team going to tell me?  "Whatever else you do, don't call it a SIA miner, because the moment it can't mine SIA, you are going to get sued."  Call it instead a Blake2b miner, because if anyone complains in the future, your response is:  I sold you a Blake2b miner, and a Blake2b miner is what you got.  Anticipation of this sort denotes intelligence, and I am sure Team SIA reads this the same way I do.

And finally this:  If I wanted to do battle with a powerful competitor, what possible reason would I have to spell out my battle plan in public 10+ months in advance?  I can think of only one reason.  SIA was smart enough to realize what might happen, therefore they didn't fully fund the project.  They let their customers fund the project because hey, if their fears turn out to be correct and Bitmain scoops them, it is not their money on the line.

No sane business person announces to the world in advance, "Hey, I plan to buy a controlling number of shares in Company X 10 months from now."  Why not you ask?  Because if the rest of the world takes you at your word they will front run the crap out of you.

I've poured over the Reddit postings and it disgusts me.  50% of it is just incredibly juvenile, and 50% is the most cynical, dissembling BS I have read in many a month.

1,Bitmain mining sia since April 2017,Many chinese miners know。I think dev term already know in Aril because https://yunbi.com/
2，If Dev term do not hard fork ,Move Bitmain,They maybe accepted bribes,We need new dev term

I pretty sure Sia is a company and not a community project, so you can forget a new team.

[waqasniaz007]

Are the SIA mining ASICS already coming on the market? This could be the premise to a nice rise in the price of the coin, am I right?

shouldnt more SC on the market create a massive price drop ?

We already have seen massive price drop in past. Because of massive increase in supply i am still confused weather i should invest or not, Although Sia is great project with real case use in future but being investor i also have to look return.

[CryptoWaffle]

GPU mining is basically over now so lets hope Asic owners split the hashrate across the pools.

[Photographer]

Are the SIA mining ASICS already coming on the market? This could be the premise to a nice rise in the price of the coin, am I right?

shouldnt more SC on the market create a massive price drop ?

We already have seen massive price drop in past. Because of massive increase in supply i am still confused weather i should invest or not, Although Sia is great project with real case use in future but being investor i also have to look return.

How massive will be exactly the increase in supply? I didn't follow the latest developments, no mention of this increase on OP, but I own some SIA and I'm interested in these marginal details like increment of supply...

[Hakkane]

Are the SIA mining ASICS already coming on the market? This could be the premise to a nice rise in the price of the coin, am I right?

shouldnt more SC on the market create a massive price drop ?

We already have seen massive price drop in past. Because of massive increase in supply i am still confused weather i should invest or not, Although Sia is great project with real case use in future but being investor i also have to look return.

How massive will be exactly the increase in supply? I didn't follow the latest developments, no mention of this increase on OP, but I own some SIA and I'm interested in these marginal details like increment of supply...

The increase in hashrate (about 10x compared to 1 week ago right now) is having zero impact in the supply and will have zero impact even if it increases 1000x. This is a common misunderstanding of people not familiar with Proof of Work. The blockchain has a parameter called "Difficulty" that increases at the same rate as the hashrate in the network. This makes that no matter how many ASICs connect to the network, the block time, and so the block rewards (that create the increase in supply) remains exactly the same. The Supply is predictable and immutable: https://siastats.info/supply_inflation.html

Actually the two last hardforks we had in the last months were aimed to make the difficulty algorithm to update the difficulty every block instead of every 4 days, so with the arrival of ASICs the impact in the block generation was zero.

1,Bitmain mining sia since April 2017,Many chinese miners know。I think dev term already know in Aril because https://yunbi.com/
2，If Dev term do not hard fork ,Move Bitmain,They maybe accepted bribes,We need new dev term

1 - That is simply false. It is impossible there was any ASIC from Bitmain in April: there was no significative increase in the hashrate
2 - Can you think twice about what you wrote? Are you aware how much money Nebulous (core devs company) is losing due to Bitmain? Obelisk is a subsidiary of Nebulous that manufactures ASICs for Sia. With the release of Antminers, the sales of Obelisks have been affected, as they are going to be delivered by June and by then they will be considerably less profitable. Bitmain released these miners only for damaging en emerging company that otherwise would have competed with them

[CryptoWaffle]

Are the SIA mining ASICS already coming on the market? This could be the premise to a nice rise in the price of the coin, am I right?

shouldnt more SC on the market create a massive price drop ?

We already have seen massive price drop in past. Because of massive increase in supply i am still confused weather i should invest or not, Although Sia is great project with real case use in future but being investor i also have to look return.

How massive will be exactly the increase in supply? I didn't follow the latest developments, no mention of this increase on OP, but I own some SIA and I'm interested in these marginal details like increment of supply...

The increase in hashrate (about 10x compared to 1 week ago right now) is having zero impact in the supply and will have zero impact even if it increases 1000x. This is a common misunderstanding of people not familiar with Proof of Work. The blockchain has a parameter called "Difficulty" that increases at the same rate as the hashrate in the network. This makes that no matter how many ASICs connect to the network, the block time, and so the block rewards (that create the increase in supply) remains exactly the same. The Supply is predictable and immutable: https://siastats.info/supply_inflation.html

Actually the two last hardforks we had in the last months were aimed to make the difficulty algorithm to update the difficulty every block instead of every 4 days, so with the arrival of ASICs the impact in the block generation was zero.

1,Bitmain mining sia since April 2017,Many chinese miners know。I think dev term already know in Aril because https://yunbi.com/
2，If Dev term do not hard fork ,Move Bitmain,They maybe accepted bribes,We need new dev term

1 - That is simply false. It is impossible there was any ASIC from Bitmain in April: there was no significative increase in the hashrate
2 - Can you think twice about what you wrote? Are you aware how much money Nebulous (core devs company) is losing due to Bitmain? Obelisk is a subsidiary of Nebulous that manufactures ASICs for Sia. With the release of Antminers, the sales of Obelisks have been affected, as they are going to be delivered by June and by then they will be considerably less profitable. Bitmain released these miners only for damaging en emerging company that otherwise would have competed with them

the supply coming from GPU mining took a major dip. RIP dual Sia mining...

[OWZ1337]

Are the SIA mining ASICS already coming on the market? This could be the premise to a nice rise in the price of the coin, am I right?

shouldnt more SC on the market create a massive price drop ?

We already have seen massive price drop in past. Because of massive increase in supply i am still confused weather i should invest or not, Although Sia is great project with real case use in future but being investor i also have to look return.

How massive will be exactly the increase in supply? I didn't follow the latest developments, no mention of this increase on OP, but I own some SIA and I'm interested in these marginal details like increment of supply...

The increase in hashrate (about 10x compared to 1 week ago right now) is having zero impact in the supply and will have zero impact even if it increases 1000x. This is a common misunderstanding of people not familiar with Proof of Work. The blockchain has a parameter called "Difficulty" that increases at the same rate as the hashrate in the network. This makes that no matter how many ASICs connect to the network, the block time, and so the block rewards (that create the increase in supply) remains exactly the same. The Supply is predictable and immutable: https://siastats.info/supply_inflation.html

Actually the two last hardforks we had in the last months were aimed to make the difficulty algorithm to update the difficulty every block instead of every 4 days, so with the arrival of ASICs the impact in the block generation was zero.

1,Bitmain mining sia since April 2017,Many chinese miners know。I think dev term already know in Aril because https://yunbi.com/
2，If Dev term do not hard fork ,Move Bitmain,They maybe accepted bribes,We need new dev term

1 - That is simply false. It is impossible there was any ASIC from Bitmain in April: there was no significative increase in the hashrate
2 - Can you think twice about what you wrote? Are you aware how much money Nebulous (core devs company) is losing due to Bitmain? Obelisk is a subsidiary of Nebulous that manufactures ASICs for Sia. With the release of Antminers, the sales of Obelisks have been affected, as they are going to be delivered by June and by then they will be considerably less profitable. Bitmain released these miners only for damaging en emerging company that otherwise would have competed with them

TEK and SIA both valuable for staking on rasberry pi miners it takes time but this is the gimmick of this low eco-friendly mining platform ;-D more to come!!! ===>

https://www.cryptopia.co.nz/Exchange?market=TEK_BTC

[PrinceCaspian]

I just downloaded siacoin desktop wallet. And when i try to unlock my wallet with the password i choose i get this error.

"error when calling /wallet/unlock: provided encryption key is incorrect"

Someone knows how to fix this?

[myc066]

Are the SIA mining ASICS already coming on the market? This could be the premise to a nice rise in the price of the coin, am I right?

shouldnt more SC on the market create a massive price drop ?

We already have seen massive price drop in past. Because of massive increase in supply i am still confused weather i should invest or not, Although Sia is great project with real case use in future but being investor i also have to look return.

How massive will be exactly the increase in supply? I didn't follow the latest developments, no mention of this increase on OP, but I own some SIA and I'm interested in these marginal details like increment of supply...

The increase in hashrate (about 10x compared to 1 week ago right now) is having zero impact in the supply and will have zero impact even if it increases 1000x. This is a common misunderstanding of people not familiar with Proof of Work. The blockchain has a parameter called "Difficulty" that increases at the same rate as the hashrate in the network. This makes that no matter how many ASICs connect to the network, the block time, and so the block rewards (that create the increase in supply) remains exactly the same. The Supply is predictable and immutable: https://siastats.info/supply_inflation.html

Actually the two last hardforks we had in the last months were aimed to make the difficulty algorithm to update the difficulty every block instead of every 4 days, so with the arrival of ASICs the impact in the block generation was zero.

1,Bitmain mining sia since April 2017,Many chinese miners know。I think dev term already know in Aril because https://yunbi.com/
2，If Dev term do not hard fork ,Move Bitmain,They maybe accepted bribes,We need new dev term

1 - That is simply false. It is impossible there was any ASIC from Bitmain in April: there was no significative increase in the hashrate
2 - Can you think twice about what you wrote? Are you aware how much money Nebulous (core devs company) is losing due to Bitmain? Obelisk is a subsidiary of Nebulous that manufactures ASICs for Sia. With the release of Antminers, the sales of Obelisks have been affected, as they are going to be delivered by June and by then they will be considerably less profitable. Bitmain released these miners only for damaging en emerging company that otherwise would have competed with them

It is fact,Same thing happened in X11,Asic mining dash over one year before Asic sell! In April ,Someone brought Sia asic from Yunbi CTO

[joae1975]

Are the SIA mining ASICS already coming on the market? This could be the premise to a nice rise in the price of the coin, am I right?

shouldnt more SC on the market create a massive price drop ?

Mining with ASIC's does not mean more SC on the market.  It simply means higher difficulty in mining and more hashing power to get the same blocks. 

[big_daddy]

anyone here mining with an A3?
how many SC are U getting per hour?

me only ~100 SC   

[yeyz20171031]

SIA is a good distributed storage project, but as an investor in the short-term pursuit of return, I think it might be more appropriate to buy STORJ.

[tothanhtuan]

With a proper plan i do think SC will be okay this year, well if you partnership with Drop box, One drive, Google Drive. The price of SC will go UP

[CryptoWaffle]

Are the SIA mining ASICS already coming on the market? This could be the premise to a nice rise in the price of the coin, am I right?

shouldnt more SC on the market create a massive price drop ?

Mining with ASIC's does not mean more SC on the market.  It simply means higher difficulty in mining and more hashing power to get the same blocks. 

are Asic owners holding the coins like I do ? Thats the question

[vindermarch]

I think the Sia project is a pretty interesting project and quite promising for long-term projects. But it is very unfortunately that the look of this project is not so interesting. Should Sia create a more attractive appearance so as to captivate the passing eye. Because, by looking at the initial look, can make people interested to follow and study your big project. Because so many projects are coming up, we have to do that.

[Hakkane]

I just downloaded siacoin desktop wallet. And when i try to unlock my wallet with the password i choose i get this error.

"error when calling /wallet/unlock: provided encryption key is incorrect"

Someone knows how to fix this?

If you just downloaded the client, and are trying to unlock a wallet that was being used in other computer, you can't use the password (is the password only works locally, in the original machine). Use the recovery seed instead.

Alternatively if what you are using is the seed: it might be possible you created another wallet when you installed Sia, and if you try to use another seed from another wallet, Sia will say the seed is incorrect. Not because the seed is bad by itself, but because Sia is expecting the seed from the current wallet. To switch to an old wallet, first delete the current wallet folder. For this, go to "About" > "Open sia folder" and delete the sub-folder "wallet". Then re-start Sia and click on "Load wallet" (an icon of an old-fashioned key)

[ilpipita]

I just downloaded siacoin desktop wallet. And when i try to unlock my wallet with the password i choose i get this error.

"error when calling /wallet/unlock: provided encryption key is incorrect"

Someone knows how to fix this?

If you just downloaded the client, and are trying to unlock a wallet that was being used in other computer, you can't use the password (is the password only works locally, in the original machine). Use the recovery seed instead.

Alternatively if what you are using is the seed: it might be possible you created another wallet when you installed Sia, and if you try to use another seed from another wallet, Sia will say the seed is incorrect. Not because the seed is bad by itself, but because Sia is expecting the seed from the current wallet. To switch to an old wallet, first delete the current wallet folder. For this, go to "About" > "Open sia folder" and delete the sub-folder "wallet". Then re-start Sia and click on "Load wallet" (an icon of an old-fashioned key)

Very detailed explantion, guiding steps on how to unclock wallet before reinstall it and resync it with Sia's network.