sia team is one of the most hard workers in crypto scene. They have a better in price product than they rivals. Last october sia hit the higher used storage. I thing price will reflect all the work soon
The sia-tech team took all your BTC back in the day and converted it to cash (maybe, so they said) ..then then became a 'miner business' along the lines of Butterfly Labs.
The ship late, make 'dubious' products. Suddenly after development, they decide NOT to offer Grin miners (even though they have working immersion units) ..this sounds
to me like KNC when they made BTC chips just for themselves and mined massively.
Or if the above is too pessimistic...they bet on GRIN miners and it is a complete loss and they are left holding the bag.
Also NO new boards or Siacoin miners (truthfully, why bother)
When asked if I will ever get my lake compensation of $600 or so from Sia-Tech for my very 'late' SC1 unit back in the day.....I get a letter saying I will be refunded
when/if they make a profit this year!
So being a USA company...I fully expect them to do what all USA ASIC makers of any note have done in the past, like Butterfly Labs and GAW and a mess of others.
Declare units shipped (even though way late). Then have the Sia-Tech Corporation declare bankruptcy. (keeping all those nice personal BTC for individuals that
where accumulated back in the day) ...ie..the usual USA corporation raider stuff..drain the corporation dry and then have it take the hit on the bankruptcy
protecting all those folk that started Sia-Tech. Rinse/Wash/Repeat.
I think we are pretty much out of say 5 ASIC makers in the USA ZERO FOR 5 in that when times got tough they just bailed and let the corporation go bankrupt
and take the legal fall. As far as SEC is concerned as long as they SENT SOMETHING OUT...even if like BFL a year late..they kinda treat it like a T.V. and say
hell, you got such.
I could also get into the point of all the siacoin being mined and difficulty with no real use yet of note with their decentralized storage ..but that is s different
rabbit hole to go down.
Glad I dumped my 5 units for what I got into them in $$$ and paid in BTC ..so still in HODL mode on that and ahead of the game. Also, have 1,250,000 Siacoin
from them, I can't really use in (1) never can get their wallet to work after five tries, will never take the passcode (2) As an alternative looked for a legit paper wallet
and from what I saw an unsupported fly by night one is not gonna do it for me. Thus, still shared on the buddies wallet we co-mined too...and he says he can
never get the wallet to synch completely to use it!
Yep, things are frigging wonderful with Sia don't ya think? I mean it is a major 'supposed' coin and they don't even have a paper wallet of any legit nature?
Nope, they are no longer even trying. If they were they'd be offering SC1 original box boards yet at a discount and such for all other batches of equipment and
let us apply 'supposed' compensation (my $600) towards such....as it is they are sitting on their hands IMHO waiting for a pump in BTC price and 'hoping' that
Siacoin does some 'modest' price increase..then my bet again is, they will declare Sia-tech bankrupt and walk with the BTC etc that they have got out of project and split.
Tis, the way of 'failed' USA corporations, the corporation fails and the owners walk away with no liability..in this case, all that BTC you sent them from back in the day.
So many moving parts in all the above have to change drastically in order to prove my premise above wrong..that I can't even imagine such.
end of rant
Brad
