What do you guys think of this as an investment?

I have less than 100k SIA but am trying to get to at least 100. I have huge belief in this coin and the potential of this technology. The problem with SIA is that it's hard to predict when it might moon. The ASIC miners are great, but there was a ton of internal debate.

Right now SIA developers and contributors maintain the option to soft fork should bitmain try to take control over the network in a 51% style attack or whatever. Here's the rundown. SIA is also making an ASIC minder called the Obelisk. They announced this last year, yet they won't be shipping until August of 2018. They have batch 1 and batch 2. Batch 1 I don't think has shipped yet, batch 2 (which is great) is shipping in August.

Out of the blue, Bitmain released SIA ASIC miners a few days/week ago. This caused chaos at SIA because they thought they would have a monopoly on the mining hardware for the coin. Bitmain pulled the rug out from under them.

Many developers wanted to fork SIA. Essentially bricking the tens or thousands of ASIC miners that Bitmain sold. The purpose of this being to protect the profitability of the Obelisk miners.

But there is yet another catch. The purpose of SIA is to use the cryptocurrency for cloud file storage. It already works. You can use your excess hard drive space to make money by renting it out. People will pay you a certain amount of SIA to rent your storage space for a certain amount of time. You agree to keep your server/computer online at all times to fulfill the contract. It's also highly redundant. Anyway, it sounds cool and it is cool. But here's the thing. The real money in cloud storage isn't your family uploading photos and videos to google drive or icloud or whatever.

The real money is at the enterprise level. The real money is multimillion dollar companies paying google, amazon, apple etc to host their files. Cloud storage saves companies a ton on hardware. SIA will offer storage to enterprise clients < 10% what theyre now paying.

I just all inned Turtlecoin
It'll hit at least 100 sats on TradeSatoshi
Reddit isn't even in yet because they're scared of TradeOgre

the biggest issue with this, and why they wanted to fork it, is that miners kind of control the network of a cryptocurrency. And this is where it gets to be over my head (as I'm not a huge tech/computer guy) but I'll try to explain the potential pitfall as best I can.

Say Bitmain controls most of the hashing power for SIA. Theoretically this means that Bitmain would be the ones powering the enterprise level storage developed by SIA. Enterprise level companies would not only have to trust SIA, they would have to trust Bitmain as well. The entire project is now riding on the hope that Bitmain won't decide to fuck everyone by mining empty blocks or otherwise taking control of the network. And that's a huge risk that a lot of large companies would not be okay with, despite the affordable cost.

So, in order to mitigate this, SIA has talked about doing a fork to invalidate all of the Bitmain A3 miners they released for SIA. Of course though, this would also be a huge blow to the project, as a bunch of people that bought those miners and want to contribute to SIA would have wasted their money. Right now they are making it back, but this potential remains.

Ultimately, for the time being, SIA has decided not to fork. But they have said they will fork IF Bitmain behaves irresponsibly. So theres kind of a lot going on right now.

SIA has absolutely massive potential as a cryptocurrency and as a technology. But nothing is guaranteed right now. I'm along for the ride, most of my portfolio is SIAcoin. It could moon tomorrow, or it might be this price for months on end. Very hard to predict imo

Also worthy of note is that the devs are in talks to list SIA on binance. Unlike most projects, they aren't holding tons of coins, and likely can't afford what Binance will initially demand they pay.

IF this coin gets on binance it's an easy 2 or 3x. No one's been able to join bittrex for months now. Right now SIA is just on bittrex, poloniex, abucoins

no it's not bad, it has to be that way for the technology to work. The coins that they own guarantee that there will be space in which to store files

how come no one biz ever wants to talk about SIA? Legit question it's one of the few top coins that absolutely never gets discussed here

its not a pump and dump coin

Thank you for all the information. Really helpful

Long time Sia owner and user of the platform.

When they get the file metadata and contract information in the blockchain:

trello.com/c/qTNXNNnm/39-ability-to-recover-your-files-using-only-your-wallet-seed

This is going to explode, I work for a media distribution company for syndicated content and Sia is currently part of our DR plan, only have a couple TBs of transcoded masters in it right now.

You have to understand when they do this and the market that currently used glacier can all of a suddenly slash their costs, achieve more 9s, and get their data quicker/cheaper (retrieval fees are a bitch for cold storage) it is a no brainer in a DR planning meeting. Even if you still use other backup services this should be your plan C.

How Sia spreads out the files via Reed Solomon means that in a DR scenario (say the east coast gets hit by a cat 5 hurricane) Not even the big cloud players have the amount of data center locations that comes from having a bunch of tiny hosts spread out all over the globe.

Mark my words this will become a household name for DR planning in the next year for Large companies.

Now some FUD, the decentralized internet crap will never happen. No one will publicly host files that have their decryption keys and metadata posted online. Too much hassle with the DMCA.

I think poloniex fucked me since my sia I sent 3 DAYS AGO still hasn't shown up online...

I swear they need to get their shit together.

I put a ticket in but ill likely wait over 50 days for response.

It was only 4400 but still, I had sent like 60k to them before with no issue. The fuck.

its never going to explode because the name is fucking GARBAGE RUBBISH BIN TRASHH.

Now Bitcoin Private... Thats something my Dad would talk about

Wew sounds good

Was talked about a ton during the first half of last year, then the downward spiral began and people FUDed it hard. Biz doesn't talk like long hold anyway, fags just want "muh moon" or they call it a shitcoin.

fair enough, and I guess I get it, but tons of noobs like myself got into this shit just a few months ago. Since sia went from like 150 sats to over 600 back at the beginning of January it has consistently been in top 10 volume on bittrex, often way higher. I'm just surprised that such a frequently traded coin gets almost no mentions on here or even twitter for that matter.

Are you serious that your company is actually looking at SIA for storage? If so that's huge, that means you aren't the only one

Not just looking actually use it. It is not the primary backup plan, we are multi region with S3 and Glacier on both coasts along with cold API/DB servers in GCE.

Once I showed the costs, CTO laughed and said fine can't hurt to have another storage backend. We are hybrid cloud so our local transcode farm just spits the files out to a local storage server with Sia running on it.