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Author Topic: Sia - Siafund Redemption Deadline: June 1st, 2015  (Read 68528 times)
Taek
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May 08, 2014, 04:15:40 AM
 #41

Dev here. Just wanted to post an update since it's been a few days.

Luke and I just cemented our summer - we've both just turned down full time positions and will be working on Sia full time. This week has been mostly about updating our whitepaper. It's currently at version 0.3 at can be found here.

We're not very far away from having software that can upload and house files redundantly (and be self repairing), and hope to be inviting early testers by June. A lot of features that make the system as a whole secure will not be in place at this point, so be careful about what you upload and how much stake you put into the system. In the testing stages, data will almost certainly be lost as we stress test the system and simulate catastrophes.

We've also been trying to get a website together the past two days. Mostly with bootstrap but neither of us have much experience with web dev. Hopefully we'll have something up soon.


This looks promising  but I suppose there will be quite a few bummers on the road.

I hope the devs are bunch of strong willed f*#kers Smiley

 Wink Not expecting anything easy, that's for sure.
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May 09, 2014, 09:51:01 AM
 #42

I like this coin !! ;)When the ipo?
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May 09, 2014, 10:26:55 AM
 #43

Interested  Grin
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May 09, 2014, 01:20:41 PM
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anyone else have a very good feeling about this coin?
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May 11, 2014, 09:34:45 PM
 #45

Hi, Sia dev here!

We're pleased to announce 3 things: a website, a whitepaper, and a pre-IPO!

Website: www.siacoin.com
Whitepaper: www.siacoin.com/whitepaper.pdf

Pre-IPO:

We'll be doing a pre-IPO, which means selling 15% of all Siastock. As a reminder, Sia uses Siacoin, a non-premined currency that is used to rent storage from Sia. 3.9% of all coins spent on storage are taken as a fee and distributed to the owners of Siastock, a tradeable asset built into Sia. Owning Siastock gives you a guaranteed income proportional to the value of storage being rented from the Sia network.

Stock has been chosen as an alternative to premining. As far as I'm aware, we are the first cryptocurrency to introduce stock as an idea, and we believe it is a much cleaner solution for early-backer income.

Luke and I (the two primary devs) have turned down comfy full time positions at Google and Akamai as software engineers so that we can focus entirely on Sia. However, we do not have sufficient savings to support development. This pre-IPO will give us the funds we need to put food on the table and a roof over our heads. (And insurance, transportation, etc. Living expenses.)

Unfortunately, this means that we can't use an escrow. We will run out of money before Sia is finished, which is why we are selling 15% of all Siastock at such an early stage.

Sia is the most efficient storage solution that I've ever read about. It's as cheap as buying consumer grade hardware, it's got low latency, high throughput, and is highly resilient to disasters that could take many hosts offline simultaneously. Sia's feature set is superior to existing cloud storage solutions offered by Amazon, Microsoft, Google, etc. all while being only 20% of the price. If Sia takes off, you can expect hundreds of millions to billions of dollars per year being spent renting storage. 3.9% of all of this will be going to the owners of Siastock, and we are making 15% of all Siastock available for purchase for a total of 250btc.

The IPO will most likely involve using the Nxt Asset Exchange, and will most likely start during the last week of May or the first week of June.

Future Plans:
After Sia is completed and fully working we'll be selling another round of Siastock, probably 25%. This will be in the hopes of raising multiple millions of dollars. That funding will give us enough for developers, security audits, marketing, etc. Sia has the capability to replace all of the corporate and centralized cloud storage solutions. We're going to need a lot of manpower and market power in order to make that happen. We'll also need Sia libraries in every major programming language, a dead simple API, an Amazon compatible API, (perhaps a dropbox compatibe API), etc. We can also replace all streaming services such as Netflix, Spotify, etc, and that will require a lot of manpower and market power as well.

The point here is that our future plans are very big. We're substantially more than a cryptocurrency, we're the next generation of the internet, the so called 'fifth layer.' We want to make this happen, and we need your help to do that.

Thanks!
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May 12, 2014, 12:38:49 AM
 #46

Hi, Sia dev here!

We're pleased to announce 3 things: a website, a whitepaper, and a pre-IPO!

Website: www.siacoin.com
Whitepaper: www.siacoin.com/whitepaper.pdf

Pre-IPO:

We'll be doing a pre-IPO, which means selling 15% of all Siastock. As a reminder, Sia uses Siacoin, a non-premined currency that is used to rent storage from Sia. 3.9% of all coins spent on storage are taken as a fee and distributed to the owners of Siastock, a tradeable asset built into Sia. Owning Siastock gives you a guaranteed income proportional to the value of storage being rented from the Sia network.

Stock has been chosen as an alternative to premining. As far as I'm aware, we are the first cryptocurrency to introduce stock as an idea, and we believe it is a much cleaner solution for early-backer income.

Luke and I (the two primary devs) have turned down comfy full time positions at Google and Akamai as software engineers so that we can focus entirely on Sia. However, we do not have sufficient savings to support development. This pre-IPO will give us the funds we need to put food on the table and a roof over our heads. (And insurance, transportation, etc. Living expenses.)

Unfortunately, this means that we can't use an escrow. We will run out of money before Sia is finished, which is why we are selling 15% of all Siastock at such an early stage.

Sia is the most efficient storage solution that I've ever read about. It's as cheap as buying consumer grade hardware, it's got low latency, high throughput, and is highly resilient to disasters that could take many hosts offline simultaneously. Sia's feature set is superior to existing cloud storage solutions offered by Amazon, Microsoft, Google, etc. all while being only 20% of the price. If Sia takes off, you can expect hundreds of millions to billions of dollars per year being spent renting storage. 3.9% of all of this will be going to the owners of Siastock, and we are making 15% of all Siastock available for purchase for a total of 250btc.

The IPO will most likely involve using the Nxt Asset Exchange, and will most likely start during the last week of May or the first week of June.

Future Plans:
After Sia is completed and fully working we'll be selling another round of Siastock, probably 25%. This will be in the hopes of raising multiple millions of dollars. That funding will give us enough for developers, security audits, marketing, etc. Sia has the capability to replace all of the corporate and centralized cloud storage solutions. We're going to need a lot of manpower and market power in order to make that happen. We'll also need Sia libraries in every major programming language, a dead simple API, an Amazon compatible API, (perhaps a dropbox compatibe API), etc. We can also replace all streaming services such as Netflix, Spotify, etc, and that will require a lot of manpower and market power as well.

The point here is that our future plans are very big. We're substantially more than a cryptocurrency, we're the next generation of the internet, the so called 'fifth layer.' We want to make this happen, and we need your help to do that.

Thanks!
sorry, what  ever your project is so power and amazing ,without escrow , i'm out.

pos , visa , edge , sim , nxn ,stc ,what, sbc , lax ......    all of them ,  we all remember.....

if dev have confidence in the project , you should same as the dev of gen 2.0 coin just like  EXO , QORA , they are really powerfull and work hard . by the way , they used escrow .



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May 12, 2014, 12:41:38 AM
 #47

Do you know there are someone steal your thought? Stroagecoin, copied everything from Siacoin

QORA | 2ND GEN | NEW SOURCE CODE | QM8Q7itiFjs9b2QaXgDuedT8cfX5qaYeqC
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May 12, 2014, 12:42:04 AM
 #48

Interested.

So many coins now.
I all want.
waiting this coins come.

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May 12, 2014, 12:45:01 AM
 #49

Hi, Sia dev here!

We're pleased to announce 3 things: a website, a whitepaper, and a pre-IPO!

Website: www.siacoin.com
Whitepaper: www.siacoin.com/whitepaper.pdf

Pre-IPO:

We'll be doing a pre-IPO, which means selling 15% of all Siastock. As a reminder, Sia uses Siacoin, a non-premined currency that is used to rent storage from Sia. 3.9% of all coins spent on storage are taken as a fee and distributed to the owners of Siastock, a tradeable asset built into Sia. Owning Siastock gives you a guaranteed income proportional to the value of storage being rented from the Sia network.

Stock has been chosen as an alternative to premining. As far as I'm aware, we are the first cryptocurrency to introduce stock as an idea, and we believe it is a much cleaner solution for early-backer income.

Luke and I (the two primary devs) have turned down comfy full time positions at Google and Akamai as software engineers so that we can focus entirely on Sia. However, we do not have sufficient savings to support development. This pre-IPO will give us the funds we need to put food on the table and a roof over our heads. (And insurance, transportation, etc. Living expenses.)

Unfortunately, this means that we can't use an escrow. We will run out of money before Sia is finished, which is why we are selling 15% of all Siastock at such an early stage.

Sia is the most efficient storage solution that I've ever read about. It's as cheap as buying consumer grade hardware, it's got low latency, high throughput, and is highly resilient to disasters that could take many hosts offline simultaneously. Sia's feature set is superior to existing cloud storage solutions offered by Amazon, Microsoft, Google, etc. all while being only 20% of the price. If Sia takes off, you can expect hundreds of millions to billions of dollars per year being spent renting storage. 3.9% of all of this will be going to the owners of Siastock, and we are making 15% of all Siastock available for purchase for a total of 250btc.

The IPO will most likely involve using the Nxt Asset Exchange, and will most likely start during the last week of May or the first week of June.

Future Plans:
After Sia is completed and fully working we'll be selling another round of Siastock, probably 25%. This will be in the hopes of raising multiple millions of dollars. That funding will give us enough for developers, security audits, marketing, etc. Sia has the capability to replace all of the corporate and centralized cloud storage solutions. We're going to need a lot of manpower and market power in order to make that happen. We'll also need Sia libraries in every major programming language, a dead simple API, an Amazon compatible API, (perhaps a dropbox compatibe API), etc. We can also replace all streaming services such as Netflix, Spotify, etc, and that will require a lot of manpower and market power as well.

The point here is that our future plans are very big. We're substantially more than a cryptocurrency, we're the next generation of the internet, the so called 'fifth layer.' We want to make this happen, and we need your help to do that.

Thanks!
sorry, what  ever your project is so power and amazing ,without escrow , i'm out.

pos , visa , edge , sim , nxn ,stc ,what, sbc , lax ......    all of them ,  we all remember.....

if dev have confidence in the project , you should same as the dev of gen 2.0 coin just like  EXO , QORA , they are really powerfull and work hard . by the way , they used escrow .


without escrow , i'm out too.


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May 12, 2014, 03:17:13 AM
 #50

sorry, what  ever your project is so power and amazing ,without escrow , i'm out.

without escrow , i'm out too.

I understand. I also hope that you understand; we need the money before we can finish the coin. If we could get to 100btc without escrow, we could take escrow until there's an alpha. But then there's the same sort of issue: an alpha is certainly not a full coin, and would not be released under the pretence of being a full coin.

Sia is not programmed yet (well, it's partially programmed). It will take us several months to get to get to the full coin, and we will run out of money long before then. If you're willing to do something like a 3 month escrow (no Bitcoins for us until an alpha... or something like that), we might be able to make it work out. But we need to eat, we need electricity and internet, and we need a place to sleep.

The other thing that we have over the other scams is that our identities are fully public. I'm David Vorick, the other dev is Luke Champine. We were Ycombinator finalists under the idea for Sia, but were turned away for being several months from completion. You can email me directly, and you can email Luke directly to confirm our identities. (first.last@gmail.com)

If there's any mid-step you will accept as opposed to waiting until Sia is fully developed, we are happy to consider escrow. We are legitimate, and we are willing to take large steps to prove it. We understand the huge aversion to buying into an IPO without escrow, because anybody could be running a scam. If you are interested in the coin and want to get involved, consider what would make you willing to trust us, and let us know. We are not anonymous developers.

The other thing is that Sia will be having a second IPO (a real IPO) once the currency is completed. For this, escrow will certainly be used but the price will also be much higher, at least 10x as expensive if not much more. Investing at this early stage represents greater risk but also much greater reward.

Do you know there are someone steal your thought? Stroagecoin, copied everything from Siacoin

Yes I've been in at least one thread with Storagecoin. Whoever runs the account 'Storagecoin' can hardly speak english, I don't know how he can convincingly pass as the writer of the whitepaper that he stole. Additionally, the source code he uploaded (at first, idk if he's fixed it now) has my name (David Vorick) in it. Furthermore, the whitepaper being presented is several months old, has hand-drawn images (my own drawings as it were), and is severly flawed in a few ways (that we've since fixed). Anybody who does their due diligence on storagecoin at this point will reveal the scam almost immediately.


====================

I just wanted to say again, we're willing to take extra steps to prove ourselves as legitimate. We realize that many of you will never take a risk without escrow, which is why at the moment we are only collecting enough money to get by until the launch of Sia. Sia has been my pet project for 10 months now, and we've just recently kicked it into full gear. You can see our github page and our commit history. If you feel so compelled, you can open an issue in the issue tracker asking us to confirm this thread. I'm not sure what else would put you at ease, but feel free to make suggestions.
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May 12, 2014, 03:56:19 AM
 #51

Hi, other dev (Luke) here.

Just wanted to make myself known, and to mention that we're looking for others to contribute to the project. In particular, we could use people versed in:

  • Academic proofs
  • The Go programming language
  • Web/graphic design

Feel free to email either of us if you want to help out. You can also contribute directly by opening a pull request on our GitHub page.

Thanks!
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May 12, 2014, 03:59:02 AM
 #52

Jesus, another shit coin... Sad
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May 12, 2014, 10:26:04 AM
 #53

I am interested. Supposedly time is of essence here. Whoever comes first with working product has some benefit, be it maidsafe of sia.

BTC 1Mye3mqB9WQdCj3uFwx6zcRArnzbUiq6Ro  ★ [NXT] NXT-RA49-RXFR-V6WE-97HT9
★ [ORA] LOGO  ★ [NEM] LOGO  ★ [NXT] MONOLITH  ★ [EXO] LOGO  ★ [FIMK] LOGO  ★ [NODE] LOGO
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May 12, 2014, 10:39:56 AM
 #54

There is a second problem without the use of an escrow.

If you fail with the programming and you decide to stop it and give up. We will not get our money back, obviously cause you already spent it for living expenses.

It´s really hard to invest in this one, even if we believe that you are honest.

Maybe you can add some juice. 15% is not much.


So you want to sell 15% for 250BTC.  What happened if you get just 100BTC? The 15% will be distributed among the 100BTC invistors right?


With paying 250BC for 15%, the whole thing would be worth almost 700 Grand, even if it´s just an idea right now.
Think about it, if you want guys to invest, I think you have to give away way more than 15% for 250BTC.

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May 12, 2014, 10:41:23 AM
 #55

Hi Taek,

I have compiled a list of projects that are listing on the Nxt Asset Exchange and I see that you plan to use it. Great News  Grin

The porjects so far are here >>>> https://nxtforum.org/news-and-announcements/asset-exchange-ipos-launch-day-listings!/

If you want to add Siacoin, please post the details and I will add it to the OP and promote it with the rest of the projects.

Thanks  Grin
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May 12, 2014, 12:11:49 PM
 #56

There is a second problem without the use of an escrow.

If you fail with the programming and you decide to stop it and give up. We will not get our money back, obviously cause you already spent it for living expenses.

This is true, except that neither Luke nor I will stop working on Sia regardless of what happens. If we run out of money, we'll take full time jobs and work on Sia in our spare time. If prior experience is any indication, Sia would still get at least 20hrs a week from each of us. Things would move slower, but we'd be committed to finishing what we accepted money to finish.

Maybe you can add some juice. 15% is not much.


So you want to sell 15% for 250BTC.  What happened if you get just 100BTC? The 15% will be distributed among the 100BTC invistors right?

We'll have to see what the market thinks. We've already got several large investors interested (>5 btc) and we haven't even started yet. We don't need everybody to be willing to pay this price, only enough to hit 250btc. I feel pretty confident that we can get very close.

If we only get to 100BTC, what will happen is we'll stop the IPO (after 2 weeks). At 100BTC we'll be able to develop for several months and have much more to show for our efforts, and we'll be a much less risky option. As the funds start to run dry, we'll continue the IPO and sell the remaining X% for a higher price. (less risk, higher price). I'm quite confident that we can hit 100BTC.
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May 12, 2014, 01:09:45 PM
 #57

the acceptable way is find a trustworthy  escrow, dev made a detail plan , just like 5 steps , when you finish first step,escrow release 2% ,when you finish step 2, release 4% to you ,finished step 3 ,release 8%,when you show us beta version and test ok ,then 20%, finial version will be release all.
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May 12, 2014, 01:17:34 PM
 #58

IPO ETA?

Bitcoin Ethereum TERA
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May 12, 2014, 01:27:37 PM
 #59

sorry, what  ever your project is so power and amazing ,without escrow , i'm out.

without escrow , i'm out too.

I understand. I also hope that you understand; we need the money before we can finish the coin. If we could get to 100btc without escrow, we could take escrow until there's an alpha. But then there's the same sort of issue: an alpha is certainly not a full coin, and would not be released under the pretence of being a full coin.

Sia is not programmed yet (well, it's partially programmed). It will take us several months to get to get to the full coin, and we will run out of money long before then. If you're willing to do something like a 3 month escrow (no Bitcoins for us until an alpha... or something like that), we might be able to make it work out. But we need to eat, we need electricity and internet, and we need a place to sleep.

The other thing that we have over the other scams is that our identities are fully public. I'm David Vorick, the other dev is Luke Champine. We were Ycombinator finalists under the idea for Sia, but were turned away for being several months from completion. You can email me directly, and you can email Luke directly to confirm our identities. (first.last@gmail.com)

If there's any mid-step you will accept as opposed to waiting until Sia is fully developed, we are happy to consider escrow. We are legitimate, and we are willing to take large steps to prove it. We understand the huge aversion to buying into an IPO without escrow, because anybody could be running a scam. If you are interested in the coin and want to get involved, consider what would make you willing to trust us, and let us know. We are not anonymous developers.

The other thing is that Sia will be having a second IPO (a real IPO) once the currency is completed. For this, escrow will certainly be used but the price will also be much higher, at least 10x as expensive if not much more. Investing at this early stage represents greater risk but also much greater reward.

Do you know there are someone steal your thought? Stroagecoin, copied everything from Siacoin

Yes I've been in at least one thread with Storagecoin. Whoever runs the account 'Storagecoin' can hardly speak english, I don't know how he can convincingly pass as the writer of the whitepaper that he stole. Additionally, the source code he uploaded (at first, idk if he's fixed it now) has my name (David Vorick) in it. Furthermore, the whitepaper being presented is several months old, has hand-drawn images (my own drawings as it were), and is severly flawed in a few ways (that we've since fixed). Anybody who does their due diligence on storagecoin at this point will reveal the scam almost immediately.


====================

I just wanted to say again, we're willing to take extra steps to prove ourselves as legitimate. We realize that many of you will never take a risk without escrow, which is why at the moment we are only collecting enough money to get by until the launch of Sia. Sia has been my pet project for 10 months now, and we've just recently kicked it into full gear. You can see our github page and our commit history. If you feel so compelled, you can open an issue in the issue tracker asking us to confirm this thread. I'm not sure what else would put you at ease, but feel free to make suggestions.

I'm really interested in this idea, I struggled about whether or not to invest storagecoin. Now seem that I was right not to join in stc.
I believe u, and I think I will invest even without escrow, it will be better if there is.
I will keep eye on this. If you are going to start IPO, PM me.  Grin

QORA | 2ND GEN | NEW SOURCE CODE | QM8Q7itiFjs9b2QaXgDuedT8cfX5qaYeqC
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May 12, 2014, 01:36:04 PM
 #60

when is the ipo on nxt?
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