[ANN] Sia - Decentralized Storage

[Searing]

Since 1st (of 5) Siacoin miners arrived.

Now 15 days in the box. (doorstop status)

FYI.

Also having a hard time getting my head around the fact that EVEN if Siacoin forks, with all the siacoins in existence (say 10x what the devs originally envisioned) how is that gonna

be profitable with their decentralized anonymous cloud storage network? Seems a stretch. All them ASIC's with the fork...mining even more Siacoin, just replacing the surge of

Bitmain D3 miners that are off. So, I don't get the hype that this is gonna save ROI on these units. Not a slam. I just don't understand how this is 'supposed' to play out if Siacoin forks.

brad

[1715336108]

1715336108

[Waitingforlightning]

how is this project still relevant when there's projects that offer the same services as an extra, on top of other things like interoperability, cloud computing, fog, ...? I mean Sia was one of the first coins i bought but it doesnt look like theres gonna be a light at the end of the tunnel

[Branko]

how is this project still relevant when there's projects that offer the same services as an extra, on top of other things like interoperability, cloud computing, fog, ...? I mean Sia was one of the first coins i bought but it doesnt look like theres gonna be a light at the end of the tunnel

maybe someone would answer if you'd be more specific?

[Searing]

how is this project still relevant when there's projects that offer the same services as an extra, on top of other things like interoperability, cloud computing, fog, ...? I mean Sia was one of the first coins i bought but it doesnt look like theres gonna be a light at the end of the tunnel

maybe someone would answer if you'd be more specific?

Well, I was specific in an above quote. (er....than again, maybe everyone does not have a clue how this will play out either)

[Branko]

how is this project still relevant when there's projects that offer the same services as an extra, on top of other things like interoperability, cloud computing, fog, ...? I mean Sia was one of the first coins i bought but it doesnt look like theres gonna be a light at the end of the tunnel

maybe someone would answer if you'd be more specific?

Well, I was specific in an above quote. (er....than again, maybe everyone does not have a clue how this will play out either)

In the case fork happens and only Obelisks remain, you'll mine 20.5 million SCs divided by number of Obelisks. Happy?

[Searing]

how is this project still relevant when there's projects that offer the same services as an extra, on top of other things like interoperability, cloud computing, fog, ...? I mean Sia was one of the first coins i bought but it doesnt look like theres gonna be a light at the end of the tunnel

maybe someone would answer if you'd be more specific?

Well, I was specific in an above quote. (er....than again, maybe everyone does not have a clue how this will play out either)

In the case fork happens and only Obelisks remain, you'll mine 20.5 million SCs divided by number of Obelisks. Happy?

But at 10x or more the amount of Siacoin in the world than Sia-Tech imagined, thinking originally they would hold a monopoly now

on mining. How does 10x the amount of siacoin and the ASIC's mining them like hell as well, affect price? In that the 'value' of siacoin

speculation wise, from what I understand was always 'scarcity' and according to the devs, not price, but as a way to keep security

and keep score for their yet to be fully implemented anonymous decentralized cloud storage network at 10c to Amazon Cloud $1 in pricing.

So, if the value of siacoin is dependent on the above, and its use, and you have 10x more siacoin in the world then expected and

your cloud storage solution is still not up to snuff...where does the $$$ come from for mining more Siacoin?

Scarcity is no longer a determinate in price (GPU mining), speculation on the price of the coin should? IMHO, take a big hit because of that

and the fact, the 'supposed' sia-tech cloud storage solution is not in existence yet...

so, you have a lot of Siacoin with little purpose but the HOPE they get the decentralized network up and working and 'eventually' it

will have value. Not saying I'm right, but if not that, where does the value come into this? The hope Sia-Tech will pull it off?

Seems to me most Siacoin hodl'ers have enough to wait something like this out. Thus again, IMHO, the ASIC's will simply add more

coin to a price that (if I'm right on above, big if) siacoin is now will dump big time. At least until the 'supposed' cloud storage network

is up to snuff.

Anyhow, beat me up, but seems to me a lot of 'coin' (horse) before the 'cart" (cloud storage solution) ..so value under these circumstances

on a forked siacoin eludes me. NOW if they forked to an entirely NEW coin, and start from where they originally planned (obelisks would

be the backbone) I maybe could get it. Now not so much.

Not a slam. If I am incorrect I need 'enlightenment' on this...feel free...

brad

[jameswell]

how is this project still relevant when there's projects that offer the same services as an extra, on top of other things like interoperability, cloud computing, fog, ...? I mean Sia was one of the first coins i bought but it doesnt look like theres gonna be a light at the end of the tunnel

maybe someone would answer if you'd be more specific?

Well, I was specific in an above quote. (er....than again, maybe everyone does not have a clue how this will play out either)

In the case fork happens and only Obelisks remain, you'll mine 20.5 million SCs divided by the number of Obelisks. Happy?

Yes, and this is the per day number. Everyday 20M+ SCs will be mined by the Obelisk miners.
when people mined so many SC every day and the goal is to ROI asap,
I would imagine everyone will sell and the price of SC would go down like crazy.
Maybe dropping to single digit satoshi per SC

[Branko]

how is this project still relevant when there's projects that offer the same services as an extra, on top of other things like interoperability, cloud computing, fog, ...? I mean Sia was one of the first coins i bought but it doesnt look like theres gonna be a light at the end of the tunnel

maybe someone would answer if you'd be more specific?

Well, I was specific in an above quote. (er....than again, maybe everyone does not have a clue how this will play out either)

In the case fork happens and only Obelisks remain, you'll mine 20.5 million SCs divided by the number of Obelisks. Happy?

Yes, and this is the per day number. Everyday 20M+ SCs will be mined by the Obelisk miners.
when people mined so many SC every day and the goal is to ROI asap,
I would imagine everyone will sell and the price of SC would go down like crazy.
Maybe dropping to single digit satoshi per SC

Same number of SC is mined daily since inception...and its the same for any other mined coin...not many have working product yet,
and yes, welcome to the capitalism, where we bet with our money on future marker winners

[boomboom]

Same number of SC is mined daily since inception...and its the same for any other mined coin...not many have working product yet,
and yes, welcome to the capitalism, where we bet with our money on future marker winners

[Insert inciteful black swan, antifragile comment]

SIA has a good team, good tech, à working product, and some big problems,  let's hope they work things out and the storage app goes viral!

[khash4u]

As soon as the team announced the ASIC miners were developed I knew this sort of crap was going to happen. People need to accept that ASIC mining your going to almost always lose ROI if your not setting up a large scale mining  operation you should just forget about it and put that money into buying alt coins on the dips instead of trying to make profit mining, leave the ASIC mining to the big players because they have proven over and over with various ASIC mined blockchains that they are going to out perform you.

[|Admiral|]

As soon as the team announced the ASIC miners were developed I knew this sort of crap was going to happen. People need to accept that ASIC mining your going to almost always lose ROI if your not setting up a large scale mining  operation you should just forget about it and put that money into buying alt coins on the dips instead of trying to make profit mining, leave the ASIC mining to the big players because they have proven over and over with various ASIC mined blockchains that they are going to out perform you.

Mining will not be profitable even in for large players until they are from country side of USA or Canada. For people in rest Europe the mining will be a lose lose scenario.

[jameswell]

Same number of SC is mined daily since inception...and its the same for any other mined coin...not many have working product yet,
and yes, welcome to the capitalism, where we bet with our money on future marker winners

I thought the block reward decreased by 1 until the block reward reaches 30,000 SC.
At the moment of writing this post, the block reward is 127,451 SC.
I recalled at the beginning of this year, it was 150K+ at that time.

[Branko]

Same number of SC is mined daily since inception...and its the same for any other mined coin...not many have working product yet,
and yes, welcome to the capitalism, where we bet with our money on future marker winners

I thought the block reward decreased by 1 until the block reward reaches 30,000 SC.
At the moment of writing this post, the block reward is 127,451 SC.
I recalled at the beginning of this year, it was 150K+ at that time.

My bad, you're right. In my defense, I'm not mining SIA myself, so just assumed its permanent
number of coins per block (unless changed by fork) like most of mineable coins on the market.

Details here:

https://forum.sia.tech/topic/161/about-siacoins-calculation-and-supply

But that makes Brad even more wrong, as theres actually deflation over time involved

[Searing]

Same number of SC is mined daily since inception...and its the same for any other mined coin...not many have working product yet,
and yes, welcome to the capitalism, where we bet with our money on future marker winners

I thought the block reward decreased by 1 until the block reward reaches 30,000 SC.
At the moment of writing this post, the block reward is 127,451 SC.
I recalled at the beginning of this year, it was 150K+ at that time.

My bad, you're right. In my defense, I'm not mining SIA myself, so just assumed its permanent
number of coins per block (unless changed by fork) like most of mineable coins on the market.

Details here:

https://forum.sia.tech/topic/161/about-siacoins-calculation-and-supply

But that makes Brad even more wrong, as there's actually deflation over time involved

hey I'd like to be wrong, but simply having a lot of coins (siacoin) fork or not without the scarcity and the decentralized 10c on the $1 vs Amazon Cloud (siacoin's anonymous cloud mining in place)

where is the value come from? just having a LOT of previous GPU mined Siacoin on the hope of the pump if/when they get the supposed sia tech network up...is just that a lot of coin with no use, and you toss the amount of siacoin in the world before the obelisks were shipped (10x or more) with the scarcity angle taken away (GPU miners and if anything siacoin is not scarce now nor will it be when the fork happens)

where is the 'value' of the coin coming from? IMHO, unless they get their project network up to compensate for this massive amount of siacoin out there pre-fork and the ASIC's post fork ... it may be 'valueless'

just saying, again I have 5 of these doorstops..hope I'm wrong as hell, but not seeing it, let me know with facts how this works, if I'm wrong

would like some clarity on this...but just hoping the 'fork' is gonna fix this mess is naive, IMHO.

again, prove my doubts wrong, I'd welcome that! But again just the 'scarcity' argument does not cut it....siacoin has to 'do' something

besides being held as scarce or for a network project by siatech that is behind and not up to speed in any way from their claims

their network vison is key, so where it the hype? where is the product to compete against Amazon cloud in a decentralized and anonymous way at 10c to the $1 for Amazon Clouds centralized and not anonymous network giant?

they both have to come into play, and I just don't see this happening in any legit manner

brad

[litecoingva]

Meanwhile, not working network that makes sense to invest $$ equipment wise for HD's and participate. No Siacoin network fork. But hey, I got my Obelisk SC-1 ASIC doorstop,

day 9, still in the box, unopened. No reason to run it at a $1 a day loss over electric. (but who's counting, days, right?) sob! (live and learn)


a buddy did turn it on to see if they work at the data hall....not impressed..no way to set settings the watts are correct (500w) but it only mines

at 500gh, not the 800gh they said originally...worse yet, no way to do any settings ..it is all locked in..thus can't overclock or underclock ...or anything

you plug it in and it runs as it runs...luck of the draw...

so again, this is day 8  (back in the box/off) just thought folk would like to know what is what...

by the by ..at the 'supposed' 550gh they can do with 2 boards...IF they simply would have shipped 3 boards to a miner (one slot is empty) they would make

the approx 800gh they stated (at probably around 750 watts) ..but still..instead they seemed to go the 'cheap' route and pulled a board..charged us the same price

and said they would make a firmware fix to get to 800mh..whatcha wanna bet..they are simply gonna overclock the hell out of the 2 boards.

now, that really would suck, if you CAN'T MODIFY THE SETTINGS IN ANY MANNER...maybe your piece of crap obelisk CAN'T mine in overclocked mode

on 2 boards when they make the firmware/software mods ..supposedly...

myself, if the settings are locked... I'm simply going to make them 3 board units .....with what I've seen so far ..that would leave me with 3 units vs 5 units..

in that at this rate I imagine one board will be sh*t anyway..if not then I'll have a 1 board unit...but again...not impressed at all

brad

(again, back in the box/off 9 days since arrival...in doorstop mode)

If you don't want this mining righ, i give you the same amount you spent in btc and i will be happy i don't know when you join the train... but i remember that mining in 2013 was not profitable

[Branko]

snip

Again, show me one crypto project that has working economy model...even ETH is barely profitable for miners right now.

If forked, your Obelisks will compete with about 7000 others and based on todays prices, earn $15 per day per unit, minus electricity

[Searing]

Meanwhile, not working network that makes sense to invest $$ equipment wise for HD's and participate. No Siacoin network fork. But hey, I got my Obelisk SC-1 ASIC doorstop,

day 9, still in the box, unopened. No reason to run it at a $1 a day loss over electric. (but who's counting, days, right?) sob! (live and learn)


a buddy did turn it on to see if they work at the data hall....not impressed..no way to set settings the watts are correct (500w) but it only mines

at 500gh, not the 800gh they said originally...worse yet, no way to do any settings ..it is all locked in..thus can't overclock or underclock ...or anything

you plug it in and it runs as it runs...luck of the draw...

so again, this is day 8  (back in the box/off) just thought folk would like to know what is what...

by the by ..at the 'supposed' 550gh they can do with 2 boards...IF they simply would have shipped 3 boards to a miner (one slot is empty) they would make

the approx 800gh they stated (at probably around 750 watts) ..but still..instead they seemed to go the 'cheap' route and pulled a board..charged us the same price

and said they would make a firmware fix to get to 800mh..whatcha wanna bet..they are simply gonna overclock the hell out of the 2 boards.

now, that really would suck, if you CAN'T MODIFY THE SETTINGS IN ANY MANNER...maybe your piece of crap obelisk CAN'T mine in overclocked mode

on 2 boards when they make the firmware/software mods ..supposedly...

myself, if the settings are locked... I'm simply going to make them 3 board units .....with what I've seen so far ..that would leave me with 3 units vs 5 units..

in that at this rate I imagine one board will be sh*t anyway..if not then I'll have a 1 board unit...but again...not impressed at all

brad

(again, back in the box/off 9 days since arrival...in doorstop mode)

If you don't want these mining rights, I give you the same amount you spent in BTC and I will be happy I don't know when you join the train... but I remember that mining in 2013 was not profitable

in BTC it was about 0.98 BTC each...so, by all means, you want one of these miners for BTC ...feel free to contact me via PM. The 1st batch price was $2,535.00 USD with shipping included as an aside...I"m pretty sure that is what I paid for 1st batch..miners

after my equip deduction off taxes owed last year of 25% and the amount of gross income at my 41% tax rate (with state and soc sec for the biz) I am down 34% or about

1.11 BTC I figure...so it is a 34% loss on USD I spent on these...hey I figured they could least make 34% of the value back on units..oops)

(by the by...do you know something I don't?)

brad

[jameswell]

I have been investing in Siacoin for almost a year and mining SC since the beginning of this year.
I wish Siacoin all the best.
I support whatever it takes the Devs team and community to make the Sia project better.
BTW, I just sadly realized that my JR member has been demoted and I am a "newbie" member again...
Can anyone in this thread help me?  It would be greatly appreciated...

[Searing]

I have been investing in Siacoin for almost a year and mining SC since the beginning of this year.
I wish Siacoin all the best.
I support whatever it takes the Devs team and community to make the Sia project better.
BTW, I just sadly realized that my JR member has been demoted and I am a "newbie" member again...
Can anyone in this thread help me?  It would be greatly appreciated...

Did someone hack your previous account? If so the only way to get it back is if you had saved your BTC address on the profile and then send the devs

a msg via private msg to prove you own that BTC address...then they can give it back. (or at least that is how it worked years ago). A blank paper wallet

on the profile with access to the private key for such purposes works just fine also. Stuff it in a book, someplace, just in case or simply copy-paste the

info on the empty wallet somewhere you can get at also.

As to your current problem, if you were demoted to a newbie because of a hack, and did not do above, you are out of luck.

Let us know if you have been demoted for another reason I"m not aware of..if for no reason contact a Moderator and ask...

could be a bug I guess

brad

[metallicelmo]

I was wondering if there is so much online storage demand, why are people still not using crypto as a decentralized storage option. This would be the perfect thing for encrypted backup right. You still don't hear a lot about it really.