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Author Topic: Sia - Siafund Redemption Deadline: June 1st, 2015  (Read 68528 times)
Daedelus
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May 15, 2014, 07:18:30 AM
 #121

Hi,

Can you post the Reed Solomon version of the Nxt address used to issue your asset on the AE? (The version that looks like NXT-sdfcdD-2Dwwe- etc etc )

This is now default in the NRS v1.1.3.

Could you post it here for me to pick up later >>> https://nxtforum.org/index.php?action=pm;f=inbox;sort=date;start=0

Thanks  Grin
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Eadeqa
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May 15, 2014, 08:02:13 AM
 #122


I didn't invest because frankly I didn't see the thread prior to IPO closure.

How is this Nxt fault if you didn't see the IPO that was open to everyone for 2 months? As for Nem, even if we assume there are no sock puppets and it really has 3000 stakeholders, the world population is 7 billion, so that is very "unfair" distribution too.  You can never have "fair distribution". BTC has even worse distribution with just 1 person holding 10%.  What matters is future adoption and use by wider community, merchants and general public.



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findgreenland
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May 15, 2014, 09:00:01 AM
 #123

Update on the IPO.

As of right now, There are 147 sianotes that are still for sale. 49 of these are currently on the AE at 3100 each.
Wasn't the price supposed to be 2400?

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May 15, 2014, 09:20:25 AM
 #124

Wasn't the price supposed to be 2400?

The original price was 2400, but we sold 1/2 of the supply in under 24 hours. So we raised the price. It's been 3 days and we're down to the last 10% shares, so I'm trying to stretch them out.

You can still buy them for 1BTC = 5 sianotes following the BTC method.

I'm not sure how many shares are on the AE at this point but I'm not planning on releasing any more to the AE. (I think there's like 65 available @ 3100 each). After that I'll leave 1 more day (tomorrow) for BTC sales and then the pre-IPO will be complete.

We've hit our funding goal! This is a big deal and we're very pleased with all the support we've gotten from the community. Stay tuned over the next 6 months, we're going to try and have an alpha version released every 30 days or so. The first alpha release will most likely be a single quorum (128 participants) storing a set of files with wallets and intra-quorum transactions.
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May 15, 2014, 09:50:54 AM
 #125

When i saw coolness factor for second i was thinking it would be coin that would lower heating necessary for mining.

Still I don't understand why both SCN and STK when it could be easily one.
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May 15, 2014, 04:25:43 PM
 #126

Wasn't the price supposed to be 2400?

The original price was 2400, but we sold 1/2 of the supply in under 24 hours. So we raised the price. It's been 3 days and we're down to the last 10% shares, so I'm trying to stretch them out.

You can still buy them for 1BTC = 5 sianotes following the BTC method.

I'm not sure how many shares are on the AE at this point but I'm not planning on releasing any more to the AE. (I think there's like 65 available @ 3100 each). After that I'll leave 1 more day (tomorrow) for BTC sales and then the pre-IPO will be complete.

We've hit our funding goal! This is a big deal and we're very pleased with all the support we've gotten from the community. Stay tuned over the next 6 months, we're going to try and have an alpha version released every 30 days or so. The first alpha release will most likely be a single quorum (128 participants) storing a set of files with wallets and intra-quorum transactions.

Congrats, I buy 10 sianotes, good luck!!!

Sorry for my broken English XD
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May 15, 2014, 04:30:16 PM
 #127

Wasn't the price supposed to be 2400?

The original price was 2400, but we sold 1/2 of the supply in under 24 hours. So we raised the price. It's been 3 days and we're down to the last 10% shares, so I'm trying to stretch them out.

You can still buy them for 1BTC = 5 sianotes following the BTC method.

I'm not sure how many shares are on the AE at this point but I'm not planning on releasing any more to the AE. (I think there's like 65 available @ 3100 each). After that I'll leave 1 more day (tomorrow) for BTC sales and then the pre-IPO will be complete.

We've hit our funding goal! This is a big deal and we're very pleased with all the support we've gotten from the community. Stay tuned over the next 6 months, we're going to try and have an alpha version released every 30 days or so. The first alpha release will most likely be a single quorum (128 participants) storing a set of files with wallets and intra-quorum transactions.

Congrats, I buy 10 sianotes, good luke!!!

You r really lucky. I didn't expect it would sell in a minute.

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May 15, 2014, 04:36:32 PM
 #128

 , take brain up..It would be great to integrate it with subtitle support by community into opensource XBMC.

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May 15, 2014, 05:51:05 PM
 #129

When i saw coolness factor for second i was thinking it would be coin that would lower heating necessary for mining.

Well, it's sort of more friendly. With Bitcoin, nothing is happening except heat is being produced. The calculations used for mining are completely worthless for general computing, and the rigs used for mining can't even be repurposed to do anything else (except break certain hash schemes, I suppose.)

Sia on the other hand uses its 'protection' algorithm to produce storage that is available to the general public. So while it's not 'free' in the same sense that a POS (how do we distinguish between proof-of-storage and proof-of-stake?) currency doesn't burn energy, Sia does replace the general datacenter, providing two functions at once. Overall I think Sia would be better for the ecosystem. But the other benefit is economic, because storage on Sia can only be acquired using Siacoins, which causes inherent demand for the Siacoin that's directly related to the value of the storage on Sia.

< this isn't strictly true... Sia relies heavily on fully random numbers, which ends up being very difficult to pull off in a quorum, potentially impossible. The solution we've chosen is a proof-of-work model (and actually, you can just use the existing Bitcoin blockchain), which damages the environmental argument because our random number generation is just as wasteful as traditional POW currencies >

Still I don't understand why both SCN and STK when it could be easily one.

What is unclear? Did you read the economic model?

Siacoin is supposed to be inflationary, because we want to keep the emphasis of the value on the people who are actively contributing to Sia. With Bitcoin, people who provided $1000 worth of mining in the first 6 months have hundreds of thousands of dollars of reward today. Imagine if instead that hundreds of thousands of dollars was going to todays miners. The hashrate would be higher, and the currency would probably also be more stable ("more stable", though I doubt stable enough to defeat the instability argument).

At the same time, we need a way to feed ourselves. At this stage, that meant doing fundraising, which meant we needed some convincing source of value for our investors. Selling a coin that's permanently inflationary didn't sound too attractive to me. The other thing is that I've always felt like premining is a "dirty" way to get money for the developers. It's not clear exactly how much value the developers will have, and there's a large potential for the early adopters to have control over the markets. Someone owning 1% of a currency can perform massive manipulations, and if they're good at manipulating the market they will profit greatly at everyone else's expense.

Siastock derives its value from Siacoin, but the reverse is not true. If someone performs a massive pump-and-dump on Siastock, only Siastock holders will be affected. This rests well with me, because Siastock is designed to be highly speculative. It's where the greatest opportunity for making money is. But it shelters the people who just want to use Sia for storage, as they will be using exclusively Siacoin. Over time (after the initial explosive growth of Sia... [fingers crossed]), the Siacoin should be stable in an inflationary direction, and ultimately a poor long term investment. Siastock on the other hand gains value as Sia gains value, and is a fantastic investment (though risky) for anyone who's confident that Sia as a whole will continue to gain value.

I think that separating Siacoin from Siastock will end up being one of the defining improvements of Sia over other cryptocurrencies.
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May 15, 2014, 08:53:47 PM
 #130

Hi David,

Can you please confirm receipt of my btc deposit via email when you get a chance please.

 Smiley





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Taek
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May 15, 2014, 09:21:55 PM
 #131

Hi David,

Can you please confirm receipt of my btc deposit via email when you get a chance please.

 Smiley

Yes, I have received your coins, will be sending the sianotes in the next few minutes.

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

I'm announcing the close of our IPO. We will no longer be accepting Bitcoins for sianotes. 27 sianotes are still available on the AE for 3100 each, once these are sold there will be no more added.

Thank you very much for participating.
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May 18, 2014, 09:06:58 PM
 #132

Great idea, interesting project. Good luck
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May 18, 2014, 10:32:23 PM
 #133

Am I late into the party???
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May 18, 2014, 10:38:47 PM
 #134



This is a torrent. 0 idea. want to fuck money "free"
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May 18, 2014, 10:58:54 PM
 #135

Am I late into the party???

You can use Nxt Asset Exchange to buy shares ('sianote' asset)
Taek
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May 19, 2014, 12:20:50 AM
 #136

You can use Nxt Asset Exchange to buy shares ('sianote' asset)

We (the developers) are not selling Sianotes any more, but one of the advantages of using the Nxt AE is that a few other people are selling shares that they bought earlier. Especially if you post a buy at a high enough price, you will be able to get your hands on some.

I believe right now there are a few available for 3100, which is the price we (the developers) were selling them for at the end of the fund-raiser.
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May 19, 2014, 05:30:39 PM
 #137

@Taek - does Sia network has to be decentralized? It seems the services that Sia provide do not require Sia network to be decentralized as long as the network is encrypted. The network is encrypted and distributed but the company can be an organized legal entity
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May 20, 2014, 07:36:22 AM
 #138

@Taek - does Sia network has to be decentralized? It seems the services that Sia provide do not require Sia network to be decentralized as long as the network is encrypted. The network is encrypted and distributed but the company can be an organized legal entity

The network does not have to be decentralized, though I think that there are substantial advantages to it being decentralized, from a societal perspective even if that's not what's best for the company. Imagine if the internet were fully centralized, where you had to go through some central server and pay some fee in order to host your own website. It would have killed a lot of random quirky things that ended up being very beautiful.

Siastock gives us the potential to have tens of millions and even hundreds of millions of dollars in annual revenue. For a single product, this is plenty for me.
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May 21, 2014, 02:00:50 PM
 #139

Siastock gives us the potential to have tens of millions and even hundreds of millions of dollars in annual revenue. For a single product, this is plenty for me.

Wow, that is a hefty estimate. Then again I really don't have the competence to judge it wrong or right. But what kind of timeframe do you think this could be accomplished in, potentially?

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May 21, 2014, 03:12:10 PM
 #140

even if sia coin just managed to become a 30m $ USD market cap coin .... it is still going to be 30x from ipo price.
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