Lets talk about Sia's Obelisk

[HardFireMiner]

Anyone have a clue about what it can be? I saw that asic chip with obelisk logo on it on Sia's twitter.

What do you think?

[skcoin33]

Refresh their Twitter page?

[HardFireMiner]

Refresh their Twitter page?

Done, nothing new, same asic chip with obelisk logo.
I'm curious, do they want to kill any other mining competitor with this chip? Why?

[Vivisector999]

Well, since Siacoin has its own hash type, that no other coin uses, I can say they aren't trying to overtake other mining companies, since it would only work on their coin.  Maybe they are trying to create a permanent presence to their coin by selling ASIC's that would not be able to be pointed to another coin at any time. 

Or I heard another possibility.  Since Sia is a blockchain for Storage, and their Roadmap "Goal" is to compete with places like Azure/Google/Amazon for cloud storage solutions, that possibly the "ASIC Miners" could actually be HDD storage centres, where they may pay "Mining" fees for connecting storage points all over the globe and pay people in mining fees for keeping their cloud alive. 

I am in no way attached to Sia, so I have no idea, guess we should know what its all about by tomorrow. 

[HardFireMiner]

Well, since Siacoin has its own hash type, that no other coin uses, I can say they aren't trying to overtake other mining companies, since it would only work on their coin.  Maybe they are trying to create a permanent presence to their coin by selling ASIC's that would not be able to be pointed to another coin at any time.  

Or I heard another possibility.  Since Sia is a blockchain for Storage, and their Roadmap "Goal" is to compete with places like Azure/Google/Amazon for cloud storage solutions, that possibly the "ASIC Miners" could actually be HDD storage centres, where they may pay "Mining" fees for connecting storage points all over the globe and pay people in mining fees for keeping their cloud alive.  

I am in no way attached to Sia, so I have no idea, guess we should know what its all about by tomorrow.  

I've read their explanation on ASIC's and it makes sense. What do you think?

https://blog.sia.tech/choosing-asics-for-sia-b318505b5b51

As a quick recap:
Proof of Work provides a cryptographic assurance that a certain amount of money needs to be spent to create an alternate history. Therefore, any attack (double-spend or otherwise) using alternate histories must minimally have a payoff that is larger than the cost to create that alternate history (even if you already have 100% of the hashrate).
The original history is being continuously extended by the network. A successful alternate history requires having more hashrate than the rest of the network combined. So the barrier for creating alternate histories is higher than just being able to afford the electricity, you also need access to billions of dollars of hardware.
Specialized hardware is both faster and more energy efficient than standard hardware, by so many orders of magnitude that at least in Bitcoin and other ASIC mined coins, using ASICs is the only practical means to build an alternate history.
ASICs are very expensive, and inherently useful exclusively for mining that particular coin. So if the ASIC is not mining, it’s just wasted money, and it’s a LOT of wasted money. This makes it unlikely that a meaningful number of ASICs exist today which are not actively mining, simply because its so expensive for them to exist and then do nothing. For ASIC mined coins only, this allows us to worry less about how expensive it is to build an alternate history and instead focus more on who owns the existing hashrate — that hashrate likely represents all practical hashrate that can be applied to attack the network.
For ASIC mined coins only, there is a very large amount of hardware that is useful exclusively for mining a particular coin. If the value of that coin falls, the value of the hardware necessarily falls with it. Performing attacks that could shake market confidence, scare away users, or otherwise affect the price of the coin ends up being a lot more expensive for the owner of the hashrate than just the money spent on electricity — they also have to consider the losses they incurred when the value of their hardware dropped.

[HardFireMiner]

Okay, so now I have moved all of my SIA to an exchange to sell ASAP, the announcement disappointed me, I believe a lot will sell, maybe I will buy later.  

https://www.reddit.com/r/siacoin/comments/6j1gyg/obelisks_sia_asics_full_details/

Later Edit: They sell them for BTC, 2499$, now big SIA supporters will have no choice than selling their SIA to BTC to pre-order the asics. The price will tank, there is no other possibility.

[McWorse]

Okay, so now I have moved all of my SIA to an exchange to sell ASAP, the announcement disappointed me, I believe a lot will sell, maybe I will buy later.  

https://www.reddit.com/r/siacoin/comments/6j1gyg/obelisks_sia_asics_full_details/

Later Edit: They sell them for BTC, 2499$, now big SIA supporters will have no choice than selling their SIA to BTC to pre-order the asics. The price will tank, there is no other possibility.

A little bit weired...

The dev-team introduces a milestone to strengthen the sia-network
!
!
!
You say:
Big supporters have to sell all their sc now.

Don't you think, that big supporters have some money left apart from their investment in sc ...?
Don't you think, that producing a unique piece of hardware for sc only is a big big proof of the trust from the dev-team in their project?

But:
Please sell your coins.
Looks like some people are not ment for earning profits...

[HardFireMiner]

Okay, so now I have moved all of my SIA to an exchange to sell ASAP, the announcement disappointed me, I believe a lot will sell, maybe I will buy later.  

https://www.reddit.com/r/siacoin/comments/6j1gyg/obelisks_sia_asics_full_details/

Later Edit: They sell them for BTC, 2499$, now big SIA supporters will have no choice than selling their SIA to BTC to pre-order the asics. The price will tank, there is no other possibility.

A little bit weired...

The dev-team introduces a milestone to strengthen the sia-network
!
!
!
You say:
Big supporters have to sell all their sc now.

Don't you think, that big supporters have some money left apart from their investment in sc ...?
Don't you think, that producing a unique piece of hardware for sc only is a big big proof of the trust from the dev-team in their project?

But:
Please sell your coins.
Looks like some people are not ment for earning profits...

Some people have some money apart, some don't. If I would be a big SIA supporter, I would have most of my coins in SIA. That was just an assumption of course, If I would have a lot of BTC, probably I wont sell my SIA, but from my side, I see an oportunity from this release - to buy SIA cheaper, I bought it late, around $0.013, so I am guessing that I will be able to buy again, as I like SIA. Again, maybe it will go straight up, this is a risk I am willing to take.
   

[Vivisector999]

You have to remember though.  Sia isn't like most coins, its "purpose" is to create a cloud storage network, and rent out the space.  So I do see why they want to move in that direction, to better secure their chain in the future, since their business model relies on it.  They need a lot of trust built up in the network in order to have people purchase space and store their files. 

Also, if you go through their contracts for setting up a storage space to earn coins by renting HDD space, they actually already make the "big backers" put up coin collateral in the range of 100,000 Sia coins per TB they sign on for, which is already around that $2500 price tag, just to earn the trust of the buyers of the cloud storage space. 

[Evlve]

I think it's a good strategic long term move that fits in well with the overall vision for SC.

Unfortunately or fortunately depending on how you look at it the expectations are huge announcements/news that bring immediate rewards to people in the form of price jumps that make them feel good about their investment. Expectations are a helluva thing.

Depending on how some of my ventures go in the next week I might be able to swing for a miner. Either way I'll be doubling down on SC. It may not be as exciting but cloud storage is a huge business, and if SC pulls it off..everyone wins.

[HardFireMiner]

You have to remember though.  Sia isn't like most coins, its "purpose" is to create a cloud storage network, and rent out the space.  So I do see why they want to move in that direction, to better secure their chain in the future, since their business model relies on it.  They need a lot of trust built up in the network in order to have people purchase space and store their files. 

Also, if you go through their contracts for setting up a storage space to earn coins by renting HDD space, they actually already make the "big backers" put up coin collateral in the range of 100,000 Sia coins per TB they sign on for, which is already around that $2500 price tag, just to earn the trust of the buyers of the cloud storage space. 

Yes, I know, I think SIA has an awesome coin, my sell decision wasn't based on that. I also know that within last week a lot of coins got spent or lost on renting space, 'cause the people providing space modified the contract conditions. Didn't got too much into it, but that was enough for me to sell at 0.019875$. Now it is 0.015341$, I can re-buy it again at 23% discount, my plan is to buy somewhat around 0.012 - 0.013, I will see how the market will evolve. Now that almost all coins are falling, seeing it fall too even if it has a great project behind the coin proves I was right - someone is selling SIA big time, my guess is the guys who already support SIA but needs money to buy the ASIC's.

SIA is a great project, lest hope it will continue in the exact same manner as till this day.

[HardFireMiner]

Okay, now I see some sort of strong support around 0.013$, I have bought again now with 0.0148$, needed confirmation of strong buyers, that's why I didn't buy at 0.013$, the same amount I sold earlier, 25% cheaper.

I was right, yay!
Now lets hope Sia is really great as I believe it is.

[Israfel7]

If you bought at the top, you may be angry, I understand.
But if that happened, do not panic and just hold.  You will eventually get a high return after a while.  This is the market, this is crypto

[HardFireMiner]

If you bought at the top, you may be angry, I understand.
But if that happened, do not panic and just hold.  You will eventually get a high return after a while.  This is the market, this is crypto

Did you read the thread or are you just running around and spamming the same comment here and there? I told you when I bought, what price, when I've sold and when I re-bought.

[Tartiflette]

Nice sell/buy HardFireMiner 

[HardFireMiner]

Nice sell/buy HardFireMiner 

Thank's mate!

[ekrififi]

Okay, so now I have moved all of my SIA to an exchange to sell ASAP, the announcement disappointed me, I believe a lot will sell, maybe I will buy later.  

https://www.reddit.com/r/siacoin/comments/6j1gyg/obelisks_sia_asics_full_details/

Later Edit: They sell them for BTC, 2499$, now big SIA supporters will have no choice than selling their SIA to BTC to pre-order the asics. The price will tank, there is no other possibility.

A little bit weired...

The dev-team introduces a milestone to strengthen the sia-network
!
!
!
You say:
Big supporters have to sell all their sc now.

Don't you think, that big supporters have some money left apart from their investment in sc ...?
Don't you think, that producing a unique piece of hardware for sc only is a big big proof of the trust from the dev-team in their project?

But:
Please sell your coins.
Looks like some people are not ment for earning profits...

Some people have some money apart, some don't. If I would be a big SIA supporter, I would have most of my coins in SIA. That was just an assumption of course, If I would have a lot of BTC, probably I wont sell my SIA, but from my side, I see an oportunity from this release - to buy SIA cheaper, I bought it late, around $0.013, so I am guessing that I will be able to buy again, as I like SIA. Again, maybe it will go straight up, this is a risk I am willing to take.
   

Hardcore totally called it! Major kudos, accolades and crypto-cred...It dropped in price, and probably for the reason he gave. Only a few hundred people purchased the first week 1000 units. I'd imagine a lot of them were Do a believers who unloaded their Sis to buy one (or 3).

I'm new to SIA, but this ASIC announcement got my attention. Everything I've learned about them since then has only instilled confidence in the coin long term. Even when sales came in lighter than they expected, their transparency and mea culpa was impressive for a crypto.

I pre-ordered one the 1st day and am now considering another. Check out this other thread on the Obelisk if you're interested.

https://bitcointalk.org/index.php?topic=1976753.20

[HardFireMiner]

Okay, so now I have moved all of my SIA to an exchange to sell ASAP, the announcement disappointed me, I believe a lot will sell, maybe I will buy later.  

https://www.reddit.com/r/siacoin/comments/6j1gyg/obelisks_sia_asics_full_details/

Later Edit: They sell them for BTC, 2499$, now big SIA supporters will have no choice than selling their SIA to BTC to pre-order the asics. The price will tank, there is no other possibility.

A little bit weired...

The dev-team introduces a milestone to strengthen the sia-network
!
!
!
You say:
Big supporters have to sell all their sc now.

Don't you think, that big supporters have some money left apart from their investment in sc ...?
Don't you think, that producing a unique piece of hardware for sc only is a big big proof of the trust from the dev-team in their project?

But:
Please sell your coins.
Looks like some people are not ment for earning profits...

Some people have some money apart, some don't. If I would be a big SIA supporter, I would have most of my coins in SIA. That was just an assumption of course, If I would have a lot of BTC, probably I wont sell my SIA, but from my side, I see an oportunity from this release - to buy SIA cheaper, I bought it late, around $0.013, so I am guessing that I will be able to buy again, as I like SIA. Again, maybe it will go straight up, this is a risk I am willing to take.
   

Hardcore totally called it! Major kudos, accolades and crypto-cred...It dropped in price, and probably for the reason he gave. Only a few hundred people purchased the first week 1000 units. I'd imagine a lot of them were Do a believers who unloaded their Sis to buy one (or 3).

I'm new to SIA, but this ASIC announcement got my attention. Everything I've learned about them since then has only instilled confidence in the coin long term. Even when sales came in lighter than they expected, their transparency and mea culpa was impressive for a crypto.

I pre-ordered one the 1st day and am now considering another. Check out this other thread on the Obelisk if you're interested.

https://bitcointalk.org/index.php?topic=1976753.20

Now that they want to raise money for 4000 ASIC's, the price may still drop. I will search for a strong support and buy from there again. Yes, and I am reading that topic you mentioned, just did not have anything to add.

[3months18w]

Okay, now I see some sort of strong support around 0.013$, I have bought again now with 0.0148$, needed confirmation of strong buyers, that's why I didn't buy at 0.013$, the same amount I sold earlier, 25% cheaper.

I was right, yay!
Now lets hope Sia is really great as I believe it is.

You did a good sell /buy back trading. Congratulations.But crypto world is complex, maybe they just want to sell ASICs for money.

[HardFireMiner]

Okay, now I see some sort of strong support around 0.013$, I have bought again now with 0.0148$, needed confirmation of strong buyers, that's why I didn't buy at 0.013$, the same amount I sold earlier, 25% cheaper.

I was right, yay!
Now lets hope Sia is really great as I believe it is.

You did a good sell /buy back trading. Congratulations.But crypto world is complex, maybe they just want to sell ASICs for money.

Thank's.
Of course they sell them for money, I would be suspicious if they wouldn't calculate at least some profit on ASICs. I also understand why ASICs are necessary for a cloud project, if in a regular currency in case of a 51% attack people lose "only" their coins, with SIA a 51% attack could lead to the destruction of SIA's cloud storage infrastructure and the loss of all data.

That will be catastrophic for SIA, such an attack could destroy SIA completely.

I found good support at $0.010, bought +20% of my total SIA holdings.