@paramind22 sia is PoW
and when functional, data storage farming
Will that reward people? I must be confusing SIA with another coin that isn't POS but not POW which I thought was rewarding
holders for the last couple of years.
Siacoin is earned by renting out your unused hard drive space. You can also mine it using your hard drive. It doesn't stake and you cant earn more simply by having some.
The catch is getting used and/or new HD's to rent out such space does not count. Not prudent or feasible or practical at all. The amount of space to make anything on siacoin storage
would require you to have an existing data hall and just do this for kicks. In that you already own the hardware and using it for data storage anyway, so why not use the unused space. It
seems that may be more trouble than it is worth at this time in the sia-tech storage universe for even that to be worthwhile.
I've said it before. Much talk of this storage option but very little in the real world, to justify such equipment purchases either used HD's or new HD's to make this feasible at this time.
But a lot more real-world $$$ can be made in the ASIC miner money making by sia-tech (what is it the 7th batch now?). To top that off, even the last of the ASIC miner batches
they are making are for GRIN coin and not siacoin. You add the other leg to the stool that is overbuilt that is the coin itself. Likely, IMHO, for the amount of work done.
The last leg of this 3 legged stool is the siacoin that is out in the world, much more difficult and much more coin than the siacoin storage network could justify even if it was up in full.
Lots of issues. Couple years behind Timeline. The emphasis on making equipment vs promoting the storage aspect of siacoin. Quite frankly, I'm surprised the coin is not 1/5th the
price it is currently. Not looking good IMHO. Not at all. They need to step it up so AT LEAST a hobbyist can make a sia-tech storage HD system out of used or new parts and play with
it and at LEAST make enough money for electricity in (you pay) for storage payments (to your) in (siacoin storage pays). Without that to move things along it looks like to me, full
stagnation for the storage option..the 'supposed' crown jewel of decentralized, everyone, anonymous cloud storage for everyone.
Naw, at the present time, I"m not buying the hype. They are going sideways on this project at best and likely backsliding big time without our full awareness.
my two siacoin of wisdom on this
Brad
I haven't checked out the network adoption statistics recently, do you still lose money on the renting out space aspect? Are they just not marketing towards growing the customer base? I thought it was weird when they went into ASICs and thought, that will really distract from their main goal of growing the number of people storing files on it.
I'd really, really, really like to be proven wrong on all this siacoin and sia-tech drama...
It's a good thing Sia crushed Amazon before the coin collapsed
This shitcoin was actually worth $900 million in May 2018... now $165 million or down 82% in USD, lol...
It's still trading $500,000/day on Binance... so someone must be buying... ya man, looks really cheap
Yeah, I kinda scratch my head....I mean I got in on the ICO when I was hurting on most of it. I bought some at 8-9 bucks (silly me) so Siacoin needs to be about
$1.91 for me to break even in usd. Thus, conflicted. I just don't see the storage option keeping up, now especially with mining equip (switched to grin) and just
the plain old 'speculation'. Indeed Siacoin may be worth a lot less, when the ASIC miner stuff goes away by Sia-Tech. But again, see little progress in the storage
solution they claim to want to push. In no way does it pay to get even used equipment to make an experimental box for such.
Thus I sit on hands and ponder this?
By the By it has been since Jan 31st, 2019 since Sia-Tech promised to pay me back $900 bucks in Bitcoin to the address I specified to them. Ya think maybe they are
stalling?
Again, stuff to ponder?
Brad