Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Sia - Decentralized Storage
by
Hakkane
on 03/09/2017, 15:11:26 UTC
If I want to buy Sia low and cheap you could argue that I already can since it is trading below 1000 sats. look at the market orders. right now there are 40 BTC buyers and 10 BTC sellers in the range of 180 to 190. Still price is grinding lower. There is no buying interest in SIA. and with a zillion BTC traded on a single day you can not deny that the market isn't interested in this coin. And there I go back to my initial statement. If it was such a great coin we wouldn't trade this low at all. I'm not here to ruin the party, but you have to see the fact that the market isn't interested and if the market overall isn't interested you might actually see much much lower prices. Especially as the dumping continues because somebody is selling all the time.

There are 30 billions of Siacoin in circulation, so valuing the project at $230 millions. That is a market cap 10 times more than 4 months ago, 20 times more than 5 month ago and 200 times more than one year ago. Do you dare to say there is no interest in the project? Sia is an already functional product offering 3 petabytes of data so far among 750 hosts, but there is of course room for new features (all of them are in their roadmap https://trello.com/b/Io1dDyuI/sia-public-roadmap) and a lot of room for adoption growth: the value will keep growing naturally the closer we get to the endgame of Sia.

Your problem is also that you are using as a reference of the value of Sia the Bitcoin. That is a bad idea in general: how can you use a reference point for the value of Sia a coin that has duplicated its value during the last month? That's a horrible control. Is anybody panicking around about the dollar devaluation because the USD/BTC charts say so? But in the case of Sia it has even less sense to use the BTC as a control for its value, as file contract prices are adjusted manually to dollar prices by the hosts. It is an economy linked t dollar prices. And if you check the SC/USD charts, you'll see Sia has grown enormously, reached a peak at 2 cents on May, and since then it has been stable at the 0.7-1 cent of dollar.

Ultimately, still you are only using market charts to determine how good a project is. Seiously @attilafx, if you are an investor and you are only looking at BTC charts to know which projects are good or not instead of checking more info, digging in the communities and learning abut upcoming features, sell right now all your positions in cryptos because very soon you are going to lose everything