Search content
Sort by

Showing 6 of 6 results by Rippa84
Post
Topic
Board Speculation (Altcoins)
Re: SiaCoin's future?
by
Rippa84
on 10/08/2017, 20:08:39 UTC


I got it from the official projected statistics of the SIA miners (Obelisk). In June of next year they are projected to mine 150,000 SC a month. Each and every asic miner sold is supposed to mine that. If even just 5000 miners are sold (initial amount being sold) that will be 750,000,000 newly mined coins each month. Which is roughly 2.5% of the total coin supply each month.
Till here your direction  is almost correct. Despite the fact that there are just 4000 pieces beeing sold in the first batch.

After that it went all wrong.


As with any ASIC -- once one is mass produced, it is copied and resold by several companies. An estimated 25-50,000 asics for SC are likely to exist by the end of 2018. Each one mining 150,000 coins a month. 7.5 Billion coins minted each month. Of the current 28 billion coins. Equal roughly 1/4 the total coin amount created each month (I realize there will be billions more coins by this time next year so you can adjust %s accordingly -- but according to your own fairy tale, there should be LESS coins this time next year -- which is not true at all btw).

Whoever told you the value is constantly decreasing, clearly hasn't been following the coin. Do a little "science" experiment and jot down the current number of coins right now. Come back tomorrow and look at the total coins -- You'll see a metric shit ton more coins tomorrow than today.

The estimated reward of 150,000SC per Asic is not stable. It is estimated for the first month with 4000 units sold and decreasing after that. If less Obelisks are sold it will be more per unit.

What u ignore is the fact, that the daily Block reward is not about hashingpower. If there are 2 Billion asics it won't rise. Hashingpower just decides how much of the cake  u get.

With 4000 Obelisks sold and no gpu mining , u get 1/4000 of daily reward. When month later there are 8000units u get 1/8000 and so on.

I also did not say the total supply is decreasing, i said the amount of daily mined sc is decreasing. Exactly 144 SC per day.

So please stop ignoring the algo and do math on a regular basis.
Post
Topic
Board Speculation (Altcoins)
Re: SiaCoin's future?
by
Rippa84
on 10/08/2017, 16:15:50 UTC
Once those things hit the blockchain next year the total amount of coins will increase by a 1/4 EACH MONTH; each miner can apparently mine 150,000 SC a month. I think the per coin value will decrease over time, just due to sheer volume.

Wondering where u got that from? O_o

The Blocktime is and will stay 10 Minutes. The reward decreases by 1 every Block, to a minimum of 30,000 SC per block.
Actual reward is around 180,000 per block. Thats 180,000 *144 = ~26,000,000 per day and 26,000,000 * 30 = ~777,000,000 per Month.

With a total supply of nearly 28,5 billion SC today that is more like 1/40 (so 10 times less) increase, and as already mentioned that value is contantly decreasing.
Not forgetting features like proof of burn.

As I said in another post I feel like Siacoin may do good as well but it is nearly impossible to see high prices.  Max price is its opponent amazon's price. If it passes then noone would use Sia.

That is not a problem at all, cause all u have to do ist adjusting the costs in SC.

Devs also didn't say they want the price low, they stated they want it to be stable. Renters, Hosts and Miner should have a reliable token und no pump and dump bullsh** to make day traders happy.
Growing in a healthy way, nothin more.
Post
Topic
Board Mining (Altcoins)
Re: First Asic for SIA - Obelisk SC1
by
Rippa84
on 09/08/2017, 08:18:04 UTC


However, with more of the coin will in circulation, what impact will this have on SIA price?

None to little. The daily Block Reward will stay the same but mostly distributed between Obelisk owners.
Post
Topic
Board Mining (Altcoins)
Re: First Asic for SIA - Obelisk SC1
by
Rippa84
on 03/08/2017, 11:03:43 UTC
As the Team already stated the asics will deliver at least 250 Gh. That makes a total of 1000 Th if all 4000 are Sold.
It is very likely GPU Mining will be useless because of brutal difficulty increase. So most of them will step out and dualmine something else.

So we will have almost all Hashingpower done by these 4000 Obelisks. At least for the first six weeks. In this time you will very likely get 1/4000 of every Blockreward.
That makes a total of round about  225,000 SC.
Post
Topic
Board Mining (Altcoins)
Re: First Asic for SIA - Obelisk SC1
by
Rippa84
on 28/07/2017, 12:23:27 UTC
It is safe to order this miner? How can I be sure that they won't run with my money.

No it's a high risk. You have got to trust the Team and have faith in what they are doing.
If you do there is a Chance you can make a good profit. But nothing is for sure.
Post
Topic
Board Speculation (Altcoins)
Re: Storj (SJCK) vs. Siacoin (SC) - Discussion
by
Rippa84
on 14/07/2017, 12:53:45 UTC
They are both shit. Siacoin devs want to hardfork to add some billions of coins into their own wallets.

That info is wrong.
This was a post from a dev who was thinking out loud of how the team could raise funds. This was never an official statement nor a team expression.
The Sia Devs are very open in communication, in this case maybe a bit too less sensitive.

Three days ago they got a grant and announced in Slack:
“Nebulous has received a generous grant from INBlockchain, to be used for the development of Sia. Li Xiaolai quotes: "don't worry about money, just have things well done".As a part of this grant, we are committing to not forking the blockchain to fund development, now or in the future."
 http://sia.tech/2017grant/