Siacoin Epic Monster Moon

[NeilLostBitCoin]

The circulating supply is quite high though, not much room for mad profits.

If they become a goto service for decentralized cloud storage I beg to differ. Their service will cost much less than the current mainstream services and lets face it most people are price conscious. Not to mention the privacy Sia will provide.

yes but lets wait for the correction on the chart. Im seeing a big pump on this one. if my technichal analysis was right. lets just wait for the next few days. if the ath was break we could see a big outbreak to this coin.

[1714750625]

1714750625

[1714750625]

1714750625

[1714750625]

1714750625

[CryptoManiacHen]

I agree that this is a pump happening right now.  No reason why Siacoin should be shooting up like this. 

As for the total supply, I don't buy that.  The amount of profit really depends on your investment. I'm heavily invested in Sia, so a rise to over a penny will result in a substantial return. 

When Sia pumps for real, I expect a 1,000% return or better, this year.  How much that equates to in Fiat depends on how much you have invested.

But Stellar Lumens has a way more coins and saw a major pump, well over 1,000%, for essentially no reason. 

When Sia announces progress, it will be real news fueling the price rise.

[bearex]

But this would defy the purpose of SiaCoin as CHEAP storage. If the price of the coin would rise a lot, the price of storage per GB would also rise, and that would mean Siacoin would no longer be cheaper than competative cloud storage solutions, such as Amazon.
Quite difficult project if you think about it. You actually don't want the price to rise too much.

[sefo]

USD will always be the benchmark ... if the price of Siacoin increases, hosts will have to decrease the amount of Siacoins they charge. I fail to see a problem there.

[MrSunshine]

But this would defy the purpose of SiaCoin as CHEAP storage. If the price of the coin would rise a lot, the price of storage per GB would also rise, and that would mean Siacoin would no longer be cheaper than competative cloud storage solutions, such as Amazon.
Quite difficult project if you think about it. You actually don't want the price to rise too much.

Not true, the price in coins to use the service would simply change. So for example instead of your storage costing 20,000 Sia per month it might cost 10,000, or 2,000, or 200 and so on as the Sia price increases.

[CryptoManiacHen]

I've talked to the founder about that concern before.  He said the Sia network is made to function efficiently no matter what the price of a coin is.

[Laje]

I've talked to the founder about that concern before.  He said the Sia network is made to function efficiently no matter what the price of a coin is.

According to their FAQ:
"Sia is a decentralized cloud storage platform that uses a blockchain to facilitate payments. On Sia you can rent storage, get paid host files, Siacon mine, or contribute to the project! "
"All payments on the network happen in Siacoin"
According to their website with SIA:
Storage Provider: $ 10
Download Bandwidth Cost: $ 5

Clear analysis:
Today 1BTC ≃ $ 1761
Today 1SC ≃ $ 0.002498 (0.00000143 btc)
I think this works like all coins. It doesn't matter how much cost 1SC because, for example, Storage Provider costs $ 10.
According to that, if "tomorrow" 1SC = $10, you will pay 1SC.
But today, you will pay 4004 SC, because 1SC is $0.002498
(0.002498 * 4004 = 10). (I think it's correct, please correct me if I'm wrong).

The fact is: When you bought SC and how many people are holding this to increase its value? (of course, coin demand is necessary).

It's the same if SC will be $20, you will pay 0.5 SC (if we follow prev example).
Therefore, it doesn't mean that SC will rise until $10. It means that their rates are in $, and you will pay $10 in SC.

Future:
Can SC increase its value? Yes, like other coins.
Limits? No limits, like other coins.
Why? Because it is money, it only has the value that people / trust give to it.

And this is what like me about functional cryptocurrencies: technology that envolves them, because in front of "people" and "trust", coins are sponsored by their own technology.

[MrSunshine]

It is nice to see some Siacoin getting some love in the last day it is up 35% or so. The sleeping giant is getting noticed and awakening.

[sefo]

Damn, I hoped for some correction and wanted to get more  

Can't buy more even if I wanted to. Poloniex every time when I enter order: Order execution timed out.

[MrSunshine]

Damn, I hoped for some correction and wanted to get more  

Can't buy more even if I wanted to. Poloniex every time when I enter order: Order execution timed out.

You could buy smaller amounts with shapeshift.io

[alex9919]

Reached 190 sat! Yeh!

[vlad06]

My sell and buy orders for SIA are all timing out on Polo. 

[gators]

I think this is just the beginning for SC.....

[Laje]

I bought two weeks ago and sell them has no sense. I'm holding.
Keep them in sia off-line wallet, no one be able to stolen or 'manipulate' with strange and 'timely' delays. I think a lot of people who have SC in Polo will have problems like XRP.

I detect some moments/hours that website works correctly. I take advantage of that to widthdrawal my coins.
I have to say that all my withdrawals (diferents coins) were fast (minutes). No problems.
Now I'm studing other sites to buy SC.

[sefo]

Damn, I hoped for some correction and wanted to get more  

Can't buy more even if I wanted to. Poloniex every time when I enter order: Order execution timed out.

You could buy smaller amounts with shapeshift.io

Thanks for the tip, but wow, this is really low

Deposit Max
0.00063018 BTC

[cryptonikus]

Wow! The way sia went from zero to hero in just a few days. If it goes up a bit more I may be able to go on a cruise trip round the world.

[Zegra]

Because of the rise today, looked into this cryptocurrency. Looks pretty promising. OK, I'm in.

[g___]

I bought two weeks ago and sell them has no sense. I'm holding.
Keep them in sia off-line wallet, no one be able to stolen or 'manipulate' with strange and 'timely' delays. I think a lot of people who have SC in Polo will have problems like XRP.

I detect some moments/hours that website works correctly. I take advantage of that to widthdrawal my coins.
I have to say that all my withdrawals (diferents coins) were fast (minutes). No problems.
Now I'm studing other sites to buy SC.

have you personally had problems when it comes to withdrawal? i've never had problems moving large amounts from polo (everything but XRP)

[Laje]

Not yet (all my withdrawals have been in 24h range, all correct).
I'm cautious because a lot of people are worried about that.
However, I think I have written something that could be misunderstood:

I think a lot of people who have SC in Polo will have problems like XRP.

I write this in relation to:
1. XRP amounts
2. Delays in its web

Not only for SC: There are coins whose value is a few sats or few cents. If a lot of people with high amount of any coins want to sell/buy them, maybe this problem will repeat.
Finally, recent news about computer virus/trojans arround the world, I think is better lost my coins by myself because I have a mistake/technical problem in my computer/phone instead of my coins are out of my reach.

And I want to sleep quiet

I like Polo, but last weeks I'm not quiet with it (completly personal opinion). I enter in when I see that there are not delays and seems to work well.
Here Polo news: http://Https://poloniex.com/press-releases/2017.05.16-Industry-growth-and-its-effect-on-Poloniex/

[CryptoManiacHen]

The OP and I have long predicted this.  This is nothing though.  Wait until mid to late June for the real magic.

I cosign the concerns about Poloniex.  I would feel much better if Bittrex also listed Sia.