Quote from: inspiredinvestor on November 27, 2017, 10:07:05 AM

Quote from: mycotoxin on November 27, 2017, 04:39:04 AM

Quote from: inspiredinvestor on November 27, 2017, 04:01:56 AM

Quote from: crypto_dau on November 27, 2017, 03:28:58 AM

Quote from: mycotoxin on November 27, 2017, 03:17:05 AM

Quote from: mycotoxin on November 27, 2017, 01:41:26 AM

Quote from: DanTheHam on November 26, 2017, 11:48:03 PM

I gave up mining SIA a while back (and switched to a non storage based coin) simply because, I don't see a future for it. I can't see any large company wanting to go through the hassle (and risks) of exchanging cash for SIA then using it to buy storage. Currency fluctuations can have big effects on profitability (Lots of UK businesses after Brexit have seen profits squeezed, or even wiped out after GBP took a dive) Why would a large company already at risk of currency fluctuations increase that risk by also getting involved with crypto markets, and with something as important / essential as storage?

With high speed networks, falling SSD prices (and increasing capacities) along with super reliable HDD's does SIA really have a large scale customer out there? Perhaps content creators could find a use for SIA as an alternative back up space - but the likes of a large multinational with huge storage requirements would probably already have their own facilities in place. Honestly, I don't see enough small scale users to make up the difference.

So, that's why I got out - I don't think the demand will ever match the supply. I think it's important to have faith in any project you're investing in (whether it's buying coins or using resources to mine them, it all counts as an investment!) - I have a great deal of respect for all those who do believe that there's a future for SIA - perhaps you can see something I can't... (or maybe you are just smarter than me!) - however, for me - I think there are better options out there.

Soooooo wrong . Ive worked for two of the biggest storage manufacturers of storage in Silicon Valley and in the world. I'm not talking Terrabytes of data we are talking arrays which hold multi Exabytes of data, hosted in data centers the size of football fields. Every major company, business, hospital, stock market exchange in the world is on these arrays. When an array goes down its in the news as it impacts something huge and the downtime can affect the stock price of a company.

Now think about this, for every petabyte of data there has to be a backup of this petabyte of data , (government regulations dictate backups go back 7 years) , and to avoid a single point of failure this data has to be replicated to multiple branch locations throughout the world. Where do you think the XRAYS hospitals use are stored ? Do you really think the movie studios are storing movie data on a bunch of hard drives ? Nope, they are on multi-million dollar intelligent arrays the size of fridges which manage the data and its spread across several global locations.

One of the biggest challenges is how do you preserve this data, how do you provide cooling , the cost of electricity, security, product failures, data redundancy, real time replication, data deduplication, ete etc . These are issues which the major storage companies and enterprises struggle with .
SIACOIN solves a majority of these problems and is going to huge.

I have 675 TB of data I manage at home, which means I need to keep another 675TB of space for backups and another 675TB in case the main backup fails.
You can imagine my electricity bill, its up there and I try to offset it with solar panels and 20 x 12volt (256 Amp Hrs) solar batteries which run these NAS devices when the Sun goes down and the panels no longer supply energy.

In summer time these NAS boxes require a lot of cooling and im also mindful of what happens to the data if there's one of these California earthquakes . This is where SIACOIN comes in as I will archive the data to the SIACOIN network, and now I only need to keep 675TB of live data and my cooling and power requirement issues are now resolved - As a plus I also get to pocket a lot in savings. Another added benefit is its decentralized so I no longer need to worry about security ( As you need the wallet key and seed to get to the data ). Plus its decentralized so there's no need to worry about a single point of failure - And Even if SIACOIN team folds and gives up the project the network still lives on .

Think again @DanTheHam in the future I see SIACOIN on phones, in cars, watches etc ... this revolutionary and is going to be huge !

Another wonderful thing is no matter how much Dropbox, Amzon, Microsoft, Box etc try they can never complete with SIACOIN in the storage space. This is because there's no storage, cooling, security, power etc.. etc requirements for SIACOIN its all taken care of in their distribution model. There's never overhead as its decentralized. If Drobox, Microsoft, Box etc attempt to compete with SIACOIN they can never ever win as they have various financial overhead they can never avoid - you gotta love it . These are some smart Devs over at SIA - So SIACOIN will always undercut them in prices and will always be more secure .
Where do you think these enterprises are going to turn to cut costs and up their stock valuation ? .. SIACOIN network gives them this option

I do not agree with your analysis in the previous post. Please take a neutral analysis for both Sia (de-centralised) and others (centralised, including Dropbox, Amazon, etc.). You can see that all of them need hardwares, by which I mean real high-perfomanced devices for their storage services. Those services all need power, cooling systems, etc. which put the Earth under extremely high pressure about environmental pollution, generally. The only thing Sia project is better than those others is it use de-centralized devices, and you can restore your data easier. That's it.

regarding storage and siacoin. how is the data storage security is it uniformly encrypted on each devices? where can I learn more about this as I would be keen to use it for additional phone storage.

in a traditional storage model i.e raid volume the data is spread across several disks for speed, redundancy etc. For example in a raid5 data is spread across five disks inclusing the parity data so you can lose one disk and still recover the data - https://en.wikipedia.org/wiki/Standard_RAID_levels#RAID_5

With a raid 6 you add a second parity stripe ( or some manufacturers use a dedicated parity disk ) so you can have a two disk failure. This also mean that if one day someone walks off with one disk from your data center they only have 1/5 of your data and its useless as its only partial block data which makes it unreadable . SIACOIN extends this model but unlike hard disks in one data-center the data is spread across multiple computers across the internet and you do not know the ID of those computers. So even if someone hacks into one of those computers they only get partial data which is unreadable and not usable as the block data is garbage. Throw encryption on top of that for added security and a block-chain wallet key and you have very highly secured data. Which of the current storage provider models can beat this model or offer better security ? Pray do tell me
- The beauty of the SIACOIN model is its very simple and yet very highly effective and very affordable as the overhead requirements are stripped.
What do you think the developing world will be using ?

thanks for the detailed response mycotoxin, one of the nice things about this approach, it even I wouldn't know where all the parts are it's like anonymous secure storage... truly decentralized i definitely think if the data age this is a key advantage.

yes good analysis of the SIA storage benefits.I just want to go back
to the cooling point made by "mycotoxin", its a great analysis of the
advantage of SIA over centralised competitors.

Each little data centre operated by each storage provider on the SIA
network is responsible for their portion including cooling so instead of
trying to control climate in a 39,000sq ft centre at a cost of millions
i will be cooling my cpu as normal while i am browsing BCT

big game change

https://storageservers.wordpress.com/2013/07/17/facts-and-stats-of-worlds-largest-data-centers/