Topic: First Asic for SIA - Obelisk SC1 - page 11. (Read 29240 times)

Are you saying someone else is making a SIA Asic or are your saying that since the SIA price has tanked recently (due to BTC price increase and massive sell offs of SIA) you don't think it will be profitable anymore?

I believe the SIA price will come back up as the actual functionality of the architecture gains adoption. It's definitely a marathon situation for SIA.

yeah, I only got mine for equip deduction...I'm at 50% tax rate this year....and the good old 25% you can take off in full for computer 5 year equip deduction (stimulus) the same year

thus for 25% more risk than paying IRS 50% of my crypto mining....with that 25% I can apply to my taxes due this year....I got some of these

IF they just make 25% back after expenses I"m essentially even, with the above considerations this year..then IF I just sucked it up and paid the tax man on mining

on the other hand

someone NEW and using fiat and $$$ not mining.....is getting 25% and the other 75% of the product is all risk....none of my real life/justifications....correct or otherwise

hardly fair but that is how it is shaking out for me this tax year...thus the purchase (dubious thou it was indeed)

Not really sure about the profitability of the SC1 anymore.
There are other players in the market and it will be a fight about who will prevail.

Thing is - that is actually entirely optional for them, and if they continue doing the core shit right (decentralized storage that's secure & reliable, and providing robust means to use it, most notably an API), they won't even need to. Other people will. They'll see the incredible resource that Sia is - and the tech people, the devs, and the power users are gonna build atop it, not the grandmas. The grandmas will be using some random service that probably has made it big... but Sia will be the backend for that shit, and that will matter.

Perhaps this was obvious..but if you have more than one coupon you can only apply 1 coupon to 1 unit of any flavor...

I got an email on this....

thus most discount on any unit is $400 if you were 1st week and then #250 there after

I remember looking at this back when they launched and was sure they said 'per order' but live an learn

At current SIA price, and supposed hashing power, it would mine somewhere in $750-$1000 range per month minus electricity cost.
Draw your own conclusions

Can anybody tell me how profitable is to mine with such ASIC? Because SIA is a strange altcoin. Is it real to return money in some 5-6 months?

I just found out that the people behind Butterfly labs ASIC chips are the same producers as for the Obelisk.
I might be wrong here tho, just looking for opinions!

https://en.bitcoin.it/wiki/List_of_Bitcoin_mining_ASICs

"Butterfly Labs, Inc.
Facilitators: Chronicle Tech (now Custom Silicon Solutions)"

Thoughts?

Just got a notice that Sia is moving their correspondance from Slack to Discord.

https://discord.gg/sFCT3Ar

Not sure why. I've never used discord before... to be honest, i Barely used Slack...

That sounds about right to me. I mean there are tons of companies with tons of IT personnel  that I think would gladly suffer the user-unfriendly interface to save 25-50 percent on data storage.

Not to mention all of the companies that can act as middle men between grandmas and the Sia network...

I think the REAL reason Sia's interface isn't very user friendly is the same reason their marketing is lackluster: They haven't focused on it YET.

All of their moves, improvements, updates etc have been about Sia's infrastructure, it's scalability. What they've done so far has been pretty impressive, and if these Obelisks are real / get delivered, SiaCoin will be one of FOUR coins with an Asic secured blockchain.

Do any of us REALLY think that Siacoin won't make it to the moon because they can't make a nice interface? I mean for real tho. Is that what we're saying? They raised millions to secure their network with asics, they established a functioning marketplace of decentralized data storage, they're  releasing updates and new features all the time... BUT they got done in because they couldn't make something LOOK nice?

Idk. Maybe I take interface development for granted. I'm sure (like anything else) it's hard to do well... but i mean... come onnnnnn!!!

The whole process is quite complicated for a "normal person" and that is a huge problem even though the price you have to pay for 1TB storage is more than 10x cheaper. Hopefully with time they come up with simple drag and drop solution otherwise i can't see this thing going to the moon.

Pretty good article if your looking to maybe expand investment into Sia Network ontop of miners.


Create Your Own Low-Cost Cloud Storage App with Sia and Nextcloud


https://mtlynch.io/sia-nextcloud/

heh, well my gamble is with the Obelisk SC-1 miner ... on the other hand...equipment drought at this time in 2017
that makes sense to get...thus 50% pay IRS or take that 50% get 4 units....with an additional 25% off in real
$$$ towards taxes off gross income. Thus for 25% more risk than just giving $$$ to IRS, went with 4 of these.

MAYBE, not my wisest move....but some of these units may be moving, for the same reason.

good luck with that. I've dumped all of my SIA

Siacoin's releasing a Lite wallet in a few days.

http://wallet.luxor.tech/

I don't know how or if this will effect the coin's price in the short term, BUT it's this type of development and activity that makes me a SiaCoin believer in the long term.

They seem to be making these advancements all the time, that will really pay off over time. They haven't made a huge oush in marketing, but I think they're keeping their powder dry till their infrastructure is set up.

Well, price stability is "nice" and all, but it's not a guarantee of future prosperity. The price of a coin is determined by the whims of whoever is holding /buying /selling a coin at any given time. Sometimes those fluctuations are based on logic and reason, other times those fluctuations are nonsensical and arbitrary.

Crypto currency is such a new, undeveloped asset class that volatility is par for the course. Even bitcoin was half its current value a month ago.

If crypto currency survives in general, then a lot of cryptos with real game plans, engaged dev teams, solid tech etc should appreciate in price over time... but there are no guarantees.

SiaCoin Obelisks (assuming they get built and delivered) WILL secure the SiaCoin network. Right now, 2 or 3 Siacoin gpu mining pools COULD join forces and 51% attack their network. From my limited understanding... I think that would be a bad thing.

Network security doesn't GUARANTEE price appreciation, since a coin's price is based on the whims of whoever's trading at the time, but it's certainly a VERY good sign and indicative of a crypto on the go...

SIA MOON!!!

But isn't having a stable coin a good thing? A slow but constant growth connected with the growth of the network...

I don't know. This isn't bitcoin. It's supposed to be a service coin. I think the idea of having a steady, stable coin is pretty sound.

The VC funding is great, with news like that, one would expect the price to go up? Further, high profile articles come out stating how great the technology is, again the price should go up. The problem is, in both of these instances, their price went down - all due to ineptness in handling the situation properly.

The VC money can fix this, the question becomes do they fix it?

Maybe it's just bcoz that the dev team is taking vacation?
as business perspective, they are now backed by VCs, so i guess the situation would get better as time goes by? But i do agree that their communication especially over the asic, sucks

Sia has taken a beating over the last week or so, a lot of it is due to a few comments from the Dev team regarding their opinion on the value of SC, and their wish to see it remain "stable". One could read it as a good thing, but many of us viewed it as indifference towards their investors, and those of us who were mining to secure the network.

I wont make this a long winded response, but it does come from someone who mined, holds, and was close to pulling the trigger on 2 or 3 obelisks (their ASIC miner) that is currently in presale.

I ultimately pulled back on all but the holding front due to them making these public blunders, and it has had a real negative effect on the price. If you would like more info, I suggest reading more on their Reddit page.

I think a lot of people are loosing faith in the teams ability to operate this project as a business, not just a project. They desperately require a proficient PR team that could turn these missed opportunities into positives. I became increasingly frustrated when I witnessed the team piss away a great chance to gain traction with their Pre-sale trainwreck (people now asking for refunds) (only selling under 1/2 their expectations), coupled with the public blunders when it comes to discussing SC value, and giving the impression that they're a bunch of kids working in an apartment.

I still believe the technology is awesome, they have 2 years on Filecoin, but they need to get their act together and start giving consideration to the miners/investors.