SIACoin

So SIA wants to utilize blockchain for storage. Does that mean that every computer contains the same log of information (Like everyone is updated on what has been put onto the chain) Sorry for being ignorant I have been trying to actually understand what I have been throwing money at.

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reddit.com/r/siacoin/comments/6ig4i7/thread_for_questions_about_proof_of_work_asics/dj661cr/
reddit.com/r/siacoin/comments/6iu0dx/bad_contracts_high_fees_major_renter_losses/
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Do you have any other pic of this grill?

no user

Do you know her name?

Also SIA looks like it could hit 1000 but seems already inflated. I could have bought it at 6 satoshis but missed it because im a dumby dumb.

no bro

From what i understood back then, SIA basically lets you rent your drive to host files from other people and maybe it uses chunks but im not sure. The contracts are in the blockchain, thats for sure. I liked maidsafe more and there was much more activity for it back then so i ignored SIA at my own peril. That's why i never go all in now and always bet at least a bit on the competing coins/plataforms.

Hmm I see thank you.

No problem. if you have any other question, please ask.

No I am good for now. I'm just going to read up on some other coins that would have more practical uses in the real world. I'm trying to find things to invest in that I could see the average person using on a daily basis or something that could become essential in multiple industries.

Same as i did back then, but that doesnt really work in your best interest when you are in a bubble. Still, solid strategy. I thought exactly the same when i was all in maidsafe back then, too bad it got delayed and delayed tho. Still, its up 20x in usd from ico and it is very solid and transparent so i guess i shouldn't complain much. Could have done much better tho.

Right now my coins that follow that same strategy but maybe will do better than maidsafe are Monaco and Iconomi. Monaco is a bit riskier for my taste, but follows my style. Real world use.

I've been wanting to invest in some ICOs but it is illegal in the US. I will look into Monaco and Iconomi right now too, I appreciate all the information you have given me so far.

>Does that mean that every computer contains the same log of information
If you're asking whether everyone's computer stores everyone else's files, no.

>The contracts are in the blockchain
yes. Sia is basically just Bitcoin plus one extra type of smart contract. The contract is a "payment channel" which allows the renter to send money to the host in exchange for the host storing the renter's file. The contract also enforces that, at the end of a predefined period (e.g. 6 weeks) the host must prove it still has the file by submitting a special transaction to the blockchain. Otherwise the host loses all the money.

In short, Sia provides economic incentives for hosts to store data, instead of trying to engineer some new consensus algorithm wherein everyone stores everyone else's files.

No problem man, good luck with your investing. Remember to always diversify. Even if you loose a big chunk of your money if this bubble pops, dont give up, the real big bubble is still in the future, you will have enought time to recover and maybe make some good gains. No time tables tho. Could be as soon as mid 2018 and as far as 2022.

Thank you for the information user.

>grill

user, I have some bad news for you...

Thanks man I appreciate it.

The way I had it explained to me, it was like having Google Drive but on a peer to peer network- so no central Google node. Instead, you can rent out space on other people's server if you need it and your files are also secure.

Bumping for interest

Sia has lots of flaws.

First being: reddit.com/r/siacoin/comments/6ig4i7/thread_for_questions_about_proof_of_work_asics/dj661cr/

Second being:
reddit.com/r/siacoin/comments/6iu0dx/bad_contracts_high_fees_major_renter_losses/

Invest wisely. I hopped out recently, but who knows - despite the upcoming massive inflation, maybe it'll pay off.

Just sold.

Those hips don't lie, user.

that means if some pedo wants to hide some cheese pizza on your hard drive, say hello to the fbi.

That's Bullshit, as it's not traceable where anything is stored because it's crypted.

"availablitity"