/biz/ - Business & Finance

Can we have an honest discussion regarding the future of SIACOIN?

If the potential is reached, this coin could create a storage ecosystem that rivals Amazon web services as well as microsoft azure and others. It's truly revolutionary, and could even be part of a decentralized web in the future. Imagine hosting your website in an encrypted manner distributed across thousands of servers rather than one server controlled by one company, who can shut you down at any time?

The possibilities for this are absolutely incredible, and yet I wonder if they will come to fruition. I have no doubt that decentralized encrypted storage is the future, but I wonder if SIA will be the coin to make it happen. I think it has the best shot, as it is already a working product for technically minded people. But there are still so many kinks to work out.

For those who have been following siacoin there has also been intense drama at the upper echelons of Nebulous, the company behind SIAcoin. Nebulous has also created a second company called Obelisk which produces ASIC miners for siacoin. Unfortunately Bitmain beat Obelisk to the front a few months ago making the Obelisk miners nearly obsolete and taking a very long time to recoup the thousands of dollars that they cost. Personally I think if SIA can overcome the institutional challenges with the Obelisk company, that it can succeed and thrive in the future, it's just so hard right now.

I bought last december at 196 sats, didn't sell immediately when it went to 600 because I'm an idiot. Didn't sell in April when it went up to 400. Now It's sitting at around 80 sats and I can't bear to sell at such a steep loss. I've debated selling my SIA and investing in LINK but I think link is a meme that will never take off. Sia could truly be the future, and if so now could be the best time to invest. Under 100 sats right now, but has gone above 600 sats before. I don't think it's improbably that this could be the next great 10x coin

>>6980370
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.

On a cold winter's eve
On an imageboard bound for nowhere
I shitposted with the Trader
We were both too tired to sleep
So we took turns a-starin'
At our screens in the darkness
The boredom overtook us,
And he began to post
He said, "Son, I've made a life
Out of readin' people's trades
Knowin' what the cards were
By the way they held bought n sold
So if you don't mind me sayin'
I can see you're out n faded
For a taste of your best meme
I'll give you some advice"
So I posted my rarest Wojack
And he laughed and keked a bunch
Then he bummed a cigarette
And asked me for a light
And the board got deathly quiet
And his posts lost all expression
He said, "If you're gonna play the game, boy
You gotta learn to play it right
You've got to know when to HODL 'em
Know when to fold 'em
Know when to buy the dips
And know when to run
You never count your money
When you're candles are a pumping
There'll be time enough for countin'
When the pumpin's done
Every trader knows
That the secret to survivin'
Is knowin' which coins to throw away
And knowin' what to HODL
'Cause every coin's a winner
And every coin's a loser
And the best that you can hope for is to die
in your sleep
And when he finished postin'
He turned back toward the exchange screen
Crushed out his cigarette
And faded off to sleep
And somewhere in the darkness
The trader he broke even
But in his final words
I found an coin that I could keep
You've got to know when to HODL 'em
Know when to fold 'em
Know when to buy the dips
And know when to run
You never count your money
When you're candles are a pumping
There'll be time enough for countin'
When the pumpin's done
You've got to know when to HODL 'em (when to HODL 'em)
Know when to fold 'em (when to fold 'em)
Know when to buy the dips
And know when to run
You never count your money
When your candles are a pumpin
There'll be time enough for countin'
When the pumpin's done

>>6354228

I don't want to diminish your hopes, because I'm mostly in SIA, but those sell walls have always been there. They were there when I bought in under 200 sats. The price of this is and has been kept down for a long time. It's just how this coin is. Very hard for it to break out but when it does it's great.

Wallet issues have been completely fixed and they are in talks to list it on binance. When it does it will probably moon

>>5607806
I'm holding 48k and feel like an idiot for not dumping more money into it. This coin will easily 5x and maybe even 10x over the next few months. For anyone spreading FUD or doubting the power of this coin, I invite you to watch this video. This guy concisely explains why SIA is so revolutionary and why it will continue to dominate in 2018

https://www.youtube.com/watch?time_continue=280&v=9cEEG3WOemI