Post
Topic
Re: [ANN] Sia - Decentralized Storage - Working Beta - Launches June 7th, 2015
by
athenaclub
on 15/05/2015, 03:05:20 UTC
I'm a Sianote investor since the beginning. Glad to see things coming along.

I've just been a lurker with no reason to post before. Excuse my ignorance but I was always under the impression that Siacoins would be mined
with proof of storage. So we are using proof of work like Bitcoin to mine? And proof of storage is only for renting storage?
So we are attracting all the worthless miners who want to mine siacoins cause it is new and think they can unload them off idiots like they do
with every other shit clone.


I thought people will "mine" with their spare unused storage to earn siacoins. As long as they are providing storage they are earning coins. So that
guarantees space available for people to rent from. And the siacoins are in the hands of the people who deserve it, the hosts providing the storage.
What is the incentive for people to become hosts to earn siacoin if mining will get them coins too? Having lots of people eager to provide their empty
storage is what is needed for people to go renting it.


So now its the same miners who mine bitcoin and litecoin that will be earning the siacoins? Can the devs explain in better detail how this all works
and why this is going to work this way? I honestly don't understand but I want to.


So are there details as to what is needed to mine? Cpu power? Is it pointless to mine on a laptop?


Also be prepared to defend mining the first 100 blocks vigilantly. Since you are now attracting the miner community they don't like the word premine
no matter how many times its explained your reasons. People will not comprehend that siacoin is an open sourced decentralized solution for cloud storage
but it was developed to provide income to the devs who will need it to keep hiring and grow otherwise centralized storage will win forever. They will think
its like dogecoin.