Re: [ANN] Sia - Decentralized Storage

There could be a new coin if a part of the community continues mining on the legacy (before the fork) chain. The fork is going to invalidate blocks mined by equipment that is currently holding ~45% of the hashrate, I don't see this mining equipment just going to trash and miners using it just accepting to throw away their now main-chain-useless miners, so in my opinion, there is a very high chance the legacy chain will be maintained hence giving birth to a new coin.

Keep in mind that, unlike , for example, Bitcoin Cash, Sia coin has very special purpose, and for
that purpose team that would make new coin would also have to build software for storage network, too

Otherwise they'd mine coin that noone actually needs

My understanding is that the sia client version 1.3.5 will support the legacy chain, and that legacy chain users are always welcome as long as they hold siafunds. Regardless, mining a coin that no one needs wouldn't be a first, and there will always be people/bots ready to trade it as long as it's on an exchange ...

Wow, this is a very interesting predicament. It's going to be interesting to follow and see what comes of it. It seems that if there will still be two different chains, but only one product (the new Sia Coin that is created), how will the previous chain hold value? I understand that traders will want to continue to trade it, but how would investors view it? I think that then the original chain coin would need to proceed with its own abilities, technologies, project, etc. for it to survive as the market cap and value will then be moved to the new Sia Coin chain. Thus destroying the value of the original Sia Coin chain. Interesting, indeed.

mimagneto

If I understand correctly,
there will be no new coin creation, there will be the same SC with another algo, right?
So why are You writing about the "old"Sia and "new"Sia coin?

In theory, the old Sia Coin chain with it's algorithm Blake2b, and many, many ASIC miners will be left with nothing to mine. So in theory, instead of heading to the garbage dump, miners will decide to continue to keep the blockchain alive. Hence the "old" SiaCoin on the old algorithm will remain alive. The "new" Sia Coin will now be a completely different blockchain on a different algorithm, so hence we now have two Sia Coins. This is all theory, and based on perception as stated previously. We have yet so see what actually develops. Or am I understanding incorrectly?

mimagneto