Topic: [ANN] Sia - Decentralized Storage - page 12. (Read 1382140 times)

I wonder when they are gonna go bankrupt like ButterFly Labs with the SEC and let the corporation take the walk and owners walking away with profits as a result.

It seems to be the plan.

With the GRIN miner debacle and pulling of equipment. Siacoin price dump. Etc. It seems to be the case.

I base this on the fact when contacted about the 'supposed' January 2019 payback for late Oblisk SC-1's first batch compensation they promised (5 units) that came

out to around $660 bucks, I think it was? They replied they will only pay this WHEN they make a profit on my email.

Well, that seems clear enough.

Anyway, I sold my 5 Obelisks for what I had into them a bit after the algo change went in. I have about 1.25 million Siacoin, as a result, I was just letting ride for the

hell of it. Probably the next pump I should dump the works.

What a clusterf*ck. I have a buddy who did the same and flipped equipment etc as I did in time at algo change he would get like $5k or something in 'supposed' compensation.

IF we would have been paid that amount on January 31st, 2019 as promised. With the price of bitcoin that day from https://coinmarketcap.com/ $3,422.99 usd, well

you'd see no complaints from me then (nor my buddy)

just another example of 'trust us' until we declare bankruptcy and FOLD via SEC settlement via the corporation only trick

So one should probably NEVER buy an ASIC from a USA manufacturer for this reason. They can play bankruptcy in the manner and it seems to be rinse/wash/repeat for any

ASIC maker in the USA in the past to die like this. Alpha Tech/GAW/ButterflyLabs ...others I've forgotten about.

Well them $$$ are gone indeed.

Really, when we will make a profit.

Below is the email I got in August 2019 sure looks to me like any of us in my boat are screwed indeed!

start of quote

Brad,

I apologize for any confusion. As it states in the linked support article and my previous email, the exact date of the compensation will depend on the financial state of the company. The article goes on to advise that it will likely take several months or more to complete.

We are still working to finish up the project, such as dealing with repairs and outstanding orders due to insufficient information. We also have several other projects we are working on as well as running our business day to day.

Once we have additional information to share about the compensation program we will be sure to let the community know. As an existing customer you will be one of the first to hear it.

Please let me know if I can be of any further assistance.

Thanks,

—
Jeremy Hall
Customer Service Manager

end of quote


Of course, just telling the masses here on Bitcointalk. They will never reply to this thread. But figured I'd toss it out there if you have an Obelisk Sc-1 and only ONE unit..that supposedly

would be what $110 bucks if I remember my math right? The only thing you had to do supposedly was setup up and BTC address to pay to on the Obelisk portal with an account made.

Anyway, maybe pointless and me just venting here. But the more I look at Siacoin, the more it looks like a long-con with no future, stuff like this, being into dubious ASIC equipment,

bad management in all areas of the company. My odds of getting any of this are slim to none.

for what it is worth

end of rant

later

Brad

Sia and handshake on September 30, Sia Co-Founder David Warwick to speak
https://www.eventbrite.com/e/sia-handshake-meetup-tickets-78687250685

There is no list, but when you read the news feed you see all these fines.
Of the latter, it is a SIA fine of 225k, a fine of EOS of 24 million, an ICOrating fine of 200+k and a Blockchain Revolution fine of 150k.
And this is for the last 2 months and only those that I remember.

How many? Do you have a list?

225k dollars. Not a small amount for siafund.
The SEC is trying to regulate everything and fine everyone, note how many fines have been issued for this year!
That's just the recent EOS will pay 24kk dollars to the SEC.

Actually, even back in the day...I thought this 'side action' by Sia was kinda dubious....like one step too far.

They are lucky they only charged them 'chump change' with the fine. IMHO. It could have been a lot worse.

SEC is is fucking robbers.
Look at this article: https://sia.tech/settlement2019
I hope everything will be OK with Sia.

Commands and records - Sia Weekly Update

https://www.youtube.com/watch?v=VeKx9urhbVI&feature=youtu.be

Sia's next meetup is in LA with David Vorick and Manasi Vora. We are excited to meet you in person!

Join us: https://www.eventbrite.com/e/sia-meetup-with-david-vorick-in-la-tickets-73043143007

Date: Thursday, September 26

Time: 5 pm - 8 pm

Location: USC EEB-248

Food will be provided.

Hello mr. Carlo do You still have that Euro1080 video recording of TMF awards Belgium 2004 in Your archive?

no paper wallet

I've never gotten the siacoin wallet to work with the passphrase and tried 5x on 2 different machines

mine is now on a buddies yet (we split mining this stuff ..sold the obelisks what we had into for equip at the fork ..got lucky..this is just extra)

he claims now he can't get it to synch

I mean really you don't even have a frigging paper wallet that is legit?

yeah, the details lack on above and on what exactly they need being so far behind on the curve on their decentralized storage stuff

imho, they are making their money on equip printing imaginary sh*tcoins if such are attached supposedly price wise to the above equpment

so the siacoin i have I got nothing really in them....all profit from before i sold the equip back for what i have into it

but i mean really, no way to run a company

and remember the promises of 'build your own storage node and make money' yeah, right,

brad

i did not try the wallet sins 2018

but have a question

if you wanna backup your own file on your own storage space

i mean by that can you buy your own contract  or you need 2 wallet to do this ?

v1.4.1.2

On official website https://sia.tech version of Sia-UI wallet  is v1.4.1.1.
But on the github https://github.com/NebulousLabs/Sia-UI/releases last version is v1.3.7.
So why version v1.4.1.1 is not on github?
What version should I use?

cant argue with that, you make some good points.

i got updated via blockfolio,
i always say btct is important but i see lots of projects just dont care to update it.
but also the quality from these forums have been reduced by too many scams.

so because everything you said i tried to look deeper into it.
the good thing is, i could sell all my coins now at once.
back in jan 2018 that wasnt possible

at binance there are only 20btc worth of buyorders.
volume in sell orders make me think the price never recovers.

let me quote a 3 day old reddit post for some good news:



all in all, ill sync it again and see how it goes...

the decentralized network is still light years away from anything resembling the work they put into ASIC's and driving up difficulty by pumping out siacoin's that currently are

only a speculative price due to the ASIC pump. This amount of siacoin was un-needed for the amount of development they have for their storage network.


Amazon is almost 1 exabyte ...so no where near anything sia-tech as a working decentralized network should be at (if it worked) at this point in time.

https://www.extremetech.com/computing/129183-how-big-is-the-cloud

I still suspect that sia-tech is never going to give me the promised 700 bucks or so of compensation they promised last year for very late ASIC's,  by Jan 31st, 2019. They now claim

if the company shows a profit, they will pay this out. So WTF?

So myself I suspect a BFL Labs bailout when the SEC comes calling and the USA corporation takes the legal hit, like BFL Labs and

thus they are off the hook for the whole sia project.

They got distracted by the hype and the ASIC's and GRIN etc, so now they are likely too far behind on the decentralized storage to keep the doors open into next year

seems to me. Would like to be wrong, but this whole ASIC song has a familiar theme to it, don't ya know.

If I can ever get the wallet to work (and or synch) 4th try failed yet again to take keys on trying to set up a test wallet...and again no legit paper wallet even

I'll likely dump this sh*tcoin ASAP, call it a win as 'overage' of coin on and at the price of 5 obelisk sc1 sales in 2019 at what I had into them...so this coin is just a

bonus. Call it a win and move on I guess.

But I'm not impressed with their project at all. Also, if they really gave a f*ck they'd do stuff on bitcointalk threads, but that would lead to all sorts of pesky questions

discord it is lost in the clutter a bitcointalk thread it sits forever.

later

brad

guys chill, sia is alive and healthy.
ive seen dead coins, sia is nowhere near them....

you wont find much news on btct thats true,
but if you follow other channels like their official blog,
blockfolio signal or twitter you find plenty of nice updates.

just 4 days ago the network hit 500tb in used storage.

or go here for a list of things you can now do with sia. it has grown alot.

sia.tech/get-started

yes but the price.. well, have you seen the market? its always up and down.
better grab a lifetime supply of sia now dezentralized storage is not going anywhere.

I've mined this in dual with Claymore's, until it was possible, than I bought also an A3 machine... the first batch... and got my ROI = never...
I see some development here, but I'm aware that is too f*** slow
But still holding my SCs and trying to flip them to accumulate more on some major exchanges with good volume (most bots of course), and this time next year maybe I will see my ROI or there will be the bottom of the bottoms for me supporting this project

Sia has a great product that is being used, adoption is small but growing, the trend is clear. Most crypto is based on speculation but sia has real users, and the dev team have ongoing funding from their sianote holdings tied to adoption.

If you're a speculator/gambler you're suffering, like all alt coin traders/miners, and that's rough, but don't throw the baby out with the bath water, decentralised storage is a fantastic product, and sia is delivering!

Yeah, unsure why I'm hodl'ing any. They seem to have been left with nothing of note, even new sia-miners. Though why you would need more miners

to pump difficulty at these prices without any way/shape/form workable storage solution of note is beyond me. So right now it is (1) a speculative coin and

(2) a way to sell ASIC machines (or was).

(3) of course is the storage solution but that has not moved for 2 years. I mean they don't even support a decent paper wallet. Sheesh!

Should probably dump this sh*t. The only reason I'm HODL'ing it, is that I 'mined' the amount with my (5) Obelisk SC1's for a few months and then

sold them at the right time to get my $$$ back, almost to the penny. Thus after the electric, the amount of Siacoin I have, essentially, feels like it just fell

out of the sky. But this lack of any real adoption of the decentralized storage solution they push seems to be deader than dead, IMHO.

Can't be this out in front as a company with 1) equipment pushing 2) difficulty being excessive (due to equipment pushing) and 3) no frigging storage solution

of any adoption/note without any corresponding folk pursuing the decentralized storage builds as an option.

Also, they STILL have not compensated as they stated my $650 USD, for being late to market as they informed me of 'my share'.

They did say, this depends on what they get for a profit out of this year, sometime in the fall. This does not sound like they are gonna walk away

like Butterfly Labs did with the SEC and let the corporation take the fall, right?

Same tune, different company, then butterfly labs, but they will be bankrupt within the next year IMHO.

Seen this song and dance before with butterfly labs scam

Brad