Sia

hairygrape
hairygrape

Tell me, Veeky Forums, why you still haven`t invested in Sia?

It`s the coin with real value. You ALREADY can buy and sell storage for it.

And it`s fairly cheap now.

All urls found in this thread:
http://coinmarketcap.com/currencies/library-credit/#markets
https://www.youtube.com/watch?v=DjouYBEkQPY
http://coinmarketcap.com/assets/storjcoin-x/
https://forum.sia.tech/topic/284/siamining-com-first-pps-pool-lp-vardiff-3-fee
http://sia.nanopool.org/
http://siamining.com/
Deadlyinx
Deadlyinx

@hairygrape
Come on, people! Google it. Sia is blockchain technology worth investing a few hundred bucks in it.

Skullbone
Skullbone

Imagine Dropbox, but without a company running the central servers. You can pick who you let store your files according to their cryptographically proven uptime, fee structure, and geographical location. You then pay the person hosting the server directly for their storage space. Once you’ve made a selection, a contract is entered into between the renter (you) and the host, with the host putting up money as collateral that they will not lose your files for the duration of the contract. Upon completion of the contract, the renter can renew the contract or cancel it. The host can’t change the fees on a renter mid-contract, and if they lose files, they lose the collateral. The files you store are encrypted before being transferred. If you need more space than a single host is offering, you enter into multiple contracts.

whereismyname
whereismyname

@hairygrape
Have about 115k of them.

Firespawn
Firespawn

sia
cheap

If you look for a long term investment it's OK, but there are better alternatives as sia won't rise much from where it is

GoogleCat
GoogleCat

@Firespawn
Yeah, this is something I'll just sit on and hope for the best. After the lack of action with the official release, it's going to need a couple of big players involved before major attention (and hence rise in value) occurs.

Nojokur
Nojokur

have about 100k but its a LT investment probably

5mileys
5mileys

@hairygrape
33k @ 118 here, i imagine having to hold for like half a year before i can get a profit outta this, but who knows

WebTool
WebTool

@Firespawn
This. Good coin but no fix cap.

Sir_Gallonhead
Sir_Gallonhead

@hairygrape
Ok think about it like this:

you pay for storage with siacoin
you get paid for storage with siacoin
no one will use siacoin unless it is cheaper than competition
siacoin needs to have a low value in order for sia to be successful

you see why the coin will never be worth much?

farquit
farquit

@Sir_Gallonhead
I don't get it. Why would sia have to be low in value if a lot of people use it? It just means less siacoin will be required per storage volume.

viagrandad
viagrandad

Not only that but sia works with contract meaning that if the network grows, a good majority of the coins will be locked.

likme
likme

@farquit
The first 270,000 blocks will release 300,000-block height=siacoin, after that every block releases 30,000 siacoin. This is why less siacoin required by storage volume will never be a thing. There will always be a ton of siacoin around and the price will always need to be lower than competition.

Also if less siacoin was required per storage volume, the demand for siacoin would go down, lowering the price.

Poker_Star
Poker_Star

@farquit
@viagrandad

Look, I love the idea and if I could invest in sia on it's own I would. I just would be very cautious about expectations. How could it ever be worth .0001btc with that many coins out there competing with dropbox and google and amazon etc....

Not saying it has to be worth that to make a little bit of money, but if you're looking for ridiculous gains I don't think this is the answer.

Methnerd
Methnerd

@likme
I've already done the math. The total amount of sia in 5 years or so will be around 44 billion.
An increase of 1 billion siacoin per month is the current rate, devaluating the coin by only 100k market cap.

There will always be a ton of siacoin around and the price will always need to be lower than competition.
The total amount used to get storage will decrease, not the value itself.

@Poker_Star
that many coins out there competing with dropbox and google and amazon etc....
There isn't any other than Storj and that coin still in beta. Plus Storj is all premined and the devs control 91% of all the coins.

if you're looking for ridiculous gains I don't think this is the answer.
I've already made ridiculous gains and I do think that it can grow exponentially.

Snarelure
Snarelure

@Methnerd
Devaluating the coin by only 100k market cap.
100k USD per 1 billion per month*

Evilember
Evilember

Although there's a new coin that seems to go into that market somewhat

http://coinmarketcap.com/currencies/library-credit/#markets

https://www.youtube.com/watch?v=DjouYBEkQPY

LuckyDusty
LuckyDusty

@Methnerd
The total amount used to get storage will decrease, not the value itself.
I understood what you said bro, I'm saying that will not happen

There isn't any other than Storj and that coin still in beta. Plus Storj is all premined and the devs control 91% of all the coins.
This is just not true

I've already made ridiculous gains and I do think that it can grow exponentially.
Awesome. You asked why I haven't invested in it in the OP and I answered all that. Good luck to you. I do think it will go up long term just not all that much.

ZeroReborn
ZeroReborn

@LuckyDusty
I'm saying that will not happen
I don't really understand your reasoning for it not going up.
As more people buy the coin, the market cap will be high and the coin will be used. The market cap will always be overvalued of what it's worth.

If sia can actually obtain 500,000 TB of storage (their estimated current max is 2 million TB due to scalability), it can grow to a good size.

This is just not true
Hahaha. It is.

http://coinmarketcap.com/assets/storjcoin-x/

Available supply
49,518,143 SJCX

Total Supply
500,000,000 SJCX

They premined it and only released a small number.

The dev team of Storj can dump everyone and bail the moment the wind turns for them. The Sia devs hold nothing. They're betting everything on becoming the facebook of storage. They can only get money as the network grows.

BinaryMan
BinaryMan

@ZeroReborn
I'm not talking about storj coin, I'm talking about you limiting their competition to one other coin is just not an accurate representation of the truth.

As for less coins/storage, As I initially said, the demand for coins would go down and the supply would go up. The price would go down accordingly. These are just my opinions, and you're clearly not going to be convinced so don't worry about it. You could very well be right at the end of the day.

JunkTop
JunkTop

@BinaryMan
I'm talking about you limiting their competition to one other coin is just not an accurate representation of the truth.
Then what other coin is there?

You could very well be right at the end of the day.
I dunno, we'll see. I'm just an idiot.

Illusionz
Illusionz

@JunkTop
Ok I see the confusion. I said "How could it ever be worth .0001btc with that many coins out there competing with dropbox and google and amazon etc...."

I meant "that many siacoin out there, when it's competing with..."

So I'm saying they're in competition with huge companies. Who knows man maybe google will buy them out one day.

Fried_Sushi
Fried_Sushi

@Illusionz
Sia is in competition with huge companies and will try and beat them by offering lower prices and having lower bandwith costs. It's how Amazon S3 apparently makes most of its money.
If sia can actually provide an equal service, have a lot of storage at a lower price with better security, it can become good.

Who knows man maybe google will buy them out one day.
There's nothing to buy out. Sia is decentralized.
You would have to buy all of the siacoins to buy it out.

idontknow
idontknow

Anyone know the best way to buy Bitcoin in Canada thats fast. Not coinbase preferably.

SniperGod
SniperGod

@idontknow
Circle and Coinbase let you buy small amounts instantly. Certainly enough to buy some sia.
or localbitcoins deposit cash into somebodies account, never done it

I guess you could also see if there's a bitcoin atm nearby

Illusionz
Illusionz

How do I backup my sia wallet? Just the seed words? Anything else?

viagrandad
viagrandad

@Illusionz
The seed string is technically all you need to recreate your wallet, but you can also backup the wallet.json file located in %appdata%\Sia-UI\sia\wallet as your 'tism requires.

Supergrass
Supergrass

@Illusionz
The seed alone will restore your wallet.

wallet.json is stored in %appdata%\Sia-UI\sia\wallet if you still want to make copy.

Crazy_Nice
Crazy_Nice

@hairygrape
maybe if it wasn't such a pain in the ass to figure out how to mine

TurtleCat
TurtleCat

@Fried_Sushi
i dont think you should look at Sia as a platform in competition with these centralized platforms

it seems much more of a longterm investment that a company like facebook or google would want to control for the technology

Need_TLC
Need_TLC

@TurtleCat
i dont think you should look at Sia as a platform in competition with these centralized platforms
Why not?
it seems much more of a longterm investment that a company like facebook or google would want to control for the technology
They cannot control the technology. What part of 'sia is decentralized and cannot be bought out' do you not understand?

@Crazy_Nice
A sia pool came out recently. It's pretty easy to work out.

TreeEater
TreeEater

@Crazy_Nice
@Need_TLC
I have a server with no gpu, can I use it to mine?

Evilember
Evilember

mfw in October SIA becomes one of the biggest players in the data management field.

LuckyDusty
LuckyDusty

@Sir_Gallonhead
More like ''omfg a meme coin that actually has a use besides exchange for bitcoin! I must buy all of them this is so coooool ! '' next you will tell me that companies stock adequately reflects how much a company is worth.

Methshot
Methshot

LOL at the price lately.

What a joke of a "muh tech" coin

btfo

whereismyname
whereismyname

siamining.com
https://forum.sia.tech/topic/284/siamining-com-first-pps-pool-lp-vardiff-3-fee

Looks alright

CouchChiller
CouchChiller

94

just fuck my shit up

Stark_Naked
Stark_Naked

Sia had a bubble guys. Now expect several months of slow decrease before the next bubble. This is how cryptos work.

If you truly believe in the tech long term, you'll use the next few months to slowly cost average and accumulate.

I sold at around 110 but I will buy back in over the next weeks.

farquit
farquit

@Stark_Naked
In addition, two new mining pools just came online:
http://sia.nanopool.org/
http://siamining.com/

A wider distribution of coins held by new miners looking to recuperate costs might help price trend lower.

Likely support between 85-45 sat. on the way down.

Like you said, a good time and area to start accumulating for those who want exposure.

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