Siacoin Trading Thread

[kingscrown]

i will buy 1000000 sia for 0.1 BTC

if someboy wants to sell - PM me.

YOU send first, i have enough rep to be trusted.
if you need escrow - you pay its fees.

[mishax1]

i will buy 1000000 sia for 0.1 BTC

if someboy wants to sell - PM me.

YOU send first, i have enough rep to be trusted.
if you need escrow - you pay its fees.

https://poloniex.com/exchange#btc_sc

[Caesar_advisor]

So, after a bit of SC trading on Poloniex I noticed that trades there are rounded to the 8th decimal. This seems to be the limit site wide, across all cryptocoins.

This presents a problem for trading SC on Poloniex, as the smallest price increments are 1 x 10^-8.

With a current SELL price at 0.00000013 and BUY price at 0.00000012, an increment of 1 x 10^-8 is about 7-8%.

In other words, its a market impossible to provide liquidity in or effectively trade while prices are this low, as gain/loss is very high whenever the order book moves.

There are a few ways to solve this:
 - Siacoin price must rise by an order of magnitude
 - Poloniex increase the number of decimals to 9 or more
 - Siacoin block rewards are reduced to allow the market to 'catch up' with all the coins already out there. Not gonna happen obviously.

I'll write Poloniex with a request to increase to 9 or 10 decimals. Maybe others can do the same.

EDIT: Poloniex replied that 8 decimals is the limit. They cannot increase this. So, we're stuck with the current situation until SC price goes up. Or, SC gets listed on a different exchange.

HITBTC is the answer. Same happened with XDN, being listed at Hitbtc gave it a decent trading possibilities. You should contact them I'm sure they won't have problems to add SC. Anyway, don't worry too much about these early stage trading difficulties. This coin trading destiny is between the 150-200 sats range. Do you think the 400 BTC pump to 40 sats was casual??  

[ol92]

So, after a bit of SC trading on Poloniex I noticed that trades there are rounded to the 8th decimal. This seems to be the limit site wide, across all cryptocoins.

This presents a problem for trading SC on Poloniex, as the smallest price increments are 1 x 10^-8.

With a current SELL price at 0.00000013 and BUY price at 0.00000012, an increment of 1 x 10^-8 is about 7-8%.

In other words, its a market impossible to provide liquidity in or effectively trade while prices are this low, as gain/loss is very high whenever the order book moves.

There are a few ways to solve this:
 - Siacoin price must rise by an order of magnitude
 - Poloniex increase the number of decimals to 9 or more
 - Siacoin block rewards are reduced to allow the market to 'catch up' with all the coins already out there. Not gonna happen obviously.

I'll write Poloniex with a request to increase to 9 or 10 decimals. Maybe others can do the same.

EDIT: Poloniex replied that 8 decimals is the limit. They cannot increase this. So, we're stuck with the current situation until SC price goes up. Or, SC gets listed on a different exchange.

Or asking poloniex to trade in kilosia (ksia) rather than sia!

[akaman]

Or asking poloniex to trade in kilosia (ksia) rather than sia!

Is there a precedent for this? I've never seen this done on any exchange, and think it would dangerously confuse a great many people leading to significant losses.

[junglemouse]

I think most have already taken their losses lol

[Technologov]

Is there a way to trade Siastock (Siafund) ?

[akaman]

Is there a way to trade Siastock (Siafund) ?

There is no exchange listing Siafund. Maybe you can ask someone here with a good reputation to act as escrow, if that's what you're worried about.

[onewiseguy]

has the service been up yet?

looks good but forgot about the coin.  long time.

[akaman]

has the service been up yet?

looks good but forgot about the coin.  long time.

Oh yeah, it is definitely up. New version was released today. Check it out:
https://github.com/NebulousLabs/Sia-UI/releases/tag/v0.4.4-beta

This project is getting better by the day. As I understand, there are at least 2 full-time developers working on Sia, plus an increasing number of contributions from the community. The Siacoin has seen a steady increase as well the last week.

[Taek]

Oh yeah, it is definitely up. New version was released today. Check it out:
https://github.com/NebulousLabs/Sia-UI/releases/tag/v0.4.4-beta

This project is getting better by the day. As I understand, there are at least 2 full-time developers working on Sia, plus an increasing number of contributions from the community. The Siacoin has seen a steady increase as well the last week.

2 full time developers, soon to be three.

1 part time intern, soon to be a part time intern + full time intern.

There are also ~5 volunteer developers working on the project right now. They have been really helpful, and each added a few features that they thought the project was missing. From this perspective, Sia is doing well.

[bit3000]

WTS 1.5 million sia @ .08 BTC /milliom

[adhitthana]

Why would anyone buy Siacoin at 6 Satoshi if the best buyer is only 5 satoshi?
In percentage terms that is a very poor market.

The coin is still moving down too so it could easily get worse (in percentage terms).
If this situation is improved I will definitely buy some

[bit3000]

Why would anyone buy Siacoin at 6 Satoshi if the best buyer is only 5 satoshi?
In percentage terms that is a very poor market.

The coin is still moving down too so it could easily get worse (in percentage terms).
If this situation is improved I will definitely buy some

I would rather look it at as the worst time to buy sia'a.
If you think they will jump back then roll the dice now!!Buy them and wait for the jump.That's how you earn BTCBTCBTC

[adhitthana]

Why would anyone buy Siacoin at 6 Satoshi if the best buyer is only 5 satoshi?
In percentage terms that is a very poor market.

The coin is still moving down too so it could easily get worse (in percentage terms).
If this situation is improved I will definitely buy some

I would rather look it at as the worst time to buy sia'a.
If you think they will jump back then roll the dice now!!Buy them and wait for the jump.That's how you earn BTCBTCBTC

I've put my bid in lower down, for now. Don't get me wrong, I think the coin looks very interesting but "market forces" seem to have taken hold. Too many coins released and not enough "marketing" and the bid offer spread is way too large.
We need to be able to trade more decimal places

[adhitthana]

delete

[rienelber]

How to mine with this???

Installed the program but it says it's not active yet

I've put my bid in lower down, for now. Don't get me wrong, I think the coin looks very interesting but "market forces" seem to have taken hold. Too many coins released and not enough "marketing" and the bid offer spread is way too large.
We need to be able to trade more decimal places

[EdvinZ]

The coin showed some recovery on poloniex, now at least we are sure that it is attractive for investors.

[akaman]

The coin showed some recovery on poloniex, now at least we are sure that it is attractive for investors.

Duh? Are you talking about Siacoin? What recovery? Its pretty close to rock bottom today. Not that that's a bad thing, from an investor perspective

[akaman]

Why would anyone buy Siacoin at 6 Satoshi if the best buyer is only 5 satoshi?
In percentage terms that is a very poor market.

The coin is still moving down too so it could easily get worse (in percentage terms).
If this situation is improved I will definitely buy some

I have asked Poloniex to add the XMR:SC currency pair. If they went ahead with that, liquidity would improve. If anyone feels the same, please send Poloniex a feature request to add XMR:SC.

XMR is also by the way a very cool cryptocurrency. Being able to trade XMR directly for Sia encrypted cloud storage would be great!