Topic: [ANN] Sia - Decentralized Storage - page 159. (Read 1382198 times)

This is a miss-conception probably due to the recent cases of Bitcoin forks aimed to create new coins (Bitcoin Cash, Gold and so).

A hardfork is just a change in the very deep rules that govern a blockchain (called the consensus set of rules) that makes old versions of the clients to become incompatible with the new mined blocks. In this case, Sia is changing the algorithm that adjusts the mining Difficulty. The new version was introduced 6 months ago, and in that version this hardfork at block 135000 was already programmed.

If a hardfork becomes contentious, and so one part of the community accepts the new rules but not the other, 2 coins emerge from the hardfork (as with Bitcoin forks)

In the case of this fork of Sia, all the community is accepting the change. Almost all the hosts are using version 1.3.0 (the compatible version), all the exchanges, all the mining pools... This hardfork is being accepted by all the parts, and so there will be no creation of a new coin. After block 135000 all the coins in circulation, mined or in exchanges will be part of the upgraded blockchain. The legacy blockchain, together with the old version of Siacoins, will be abandoned, as no one is supporting the legacy coin.

In summary, the legacy coin is going to disappear, and your exchange will issue you the same amount of coins you had in the new coin. Of course, the name of the coin will remain as "Siacoin"

Do you need more info? Check the official post about the fork: https://blog.sia.tech/reminder-upcoming-sia-hardfork-e0ffcde9ebcc

Next stop: 125 satoshi's if you ask me

Hello,
OK thank you!

Siacoin has made a good profit in the last few days, I hope that it will continue like this. 

Hi,

No it's just an update to the network.
so no need for another currency

Hello,
I've been a while without tracking the coin, I only have two doubts.
1) Will a new coin be posted on this hardfork (if so, which one)?
2) About Hardfork if I have coins in Bittrex can I get the other currency?

Don't listen others much hard to tell about this spike what is going to happen in future. If you think you have chance to make profitable exit than it depend on you but I will keep hold my bag for long term.

SIAcoin maybe 1000+ when the new asics come online weeee


https://poloniex.com/exchange#btc_sc

off course it's the safest way but this wallet is a Chinese puzzle for me, plus it takes a lot of space and put weeks to syncronize

is this actually the siacoin we have been lookng for? :\ i'm hyper<<<

https://poloniex.com/exchange#btc_sc

Thats quite informative, glad to see your insight in simple and precise way

Sia is just getting warmed up. Once the new features start rolling out, we should see the interest spike back up. Glad to see the FUD has died down on this thread 

good responses as always Hakkane. plenty of details!
I have my SIA on Bittrex so I will continue to hold there
although I will be updating the SIAwallet and move the
tokens there.

Great to hear also that development is moving along
contrary to what has been said before on this thread
when the $ value was shrinking.

SIA is still here.

Thank you for your response. I am currently holding on an exchange, but I will take your advise and move to the client.

Wow, sia went to .0094€ . It s always been .006€ or less . Is there any reason for this spike and should we sell now or will it rise higher?

It will be at block 135000 and we are currently at block 134679 (you can check the current block at https://www.siastats.info/index.html). Block time average is 10 minutes, so the hardfork is expected in 53 hours


If you are holding your coins in the official client, just be sure you are using the version 1.3.0. If it is an earlier version, just update. If not, you'll simply will not be able to see updated balances on your wallet, as you will not accept new blocks. However you'll always control your funds as long as you keep your recovery seed, so you can update at any moment in the future to send those coins anywhere else.

If you are holding on a exchange, it is safe to assume all the big ones are running an updated version of Sia, so they will keep operating normally (the compatible version was released 6 months ago!). However, as you probably know, holding your funds long-term on an exchange is a horrible idea as you don't control the keys of your coins, and so the exchanges can crash, can be hacked, can run away with your money, and you'll lose everything. For any coin you have, the safest place is always the official client (or a hardware wallet if the coins has one available, not the case of Sia), so you'll always control the keys that give access to the funds.

As far as we are aware, the developing company (Nebulous) does not have any other project they are preparing. Nebulous also owns a subsidiary called Obelisk that is developing ASIC miners, but the team behind it is different from the team developing SIa (with the exception of the CEO and the PR)

I have heard that sia is planning to launch its own campaign, what about the original concept, i mean the cloud storage services should be developed and be a success before launching a new project.

Thanks for this explanation. It helped a lot.
So basically Sia was much undervalued in the past months, so when people found they are totally wrong, correction happens.
I hope I knew this earlier.

Thanks for the Clarification.
Is there a expected date for the hard fork ?

Sia has taken off recently.
Were any new exchanges added recently ?
This was quiet surprising

So for a newbie here, Do we need to do anything with our Siacoin? Or just continue to hold?