Topic: First Asic for SIA - Obelisk SC1 - page 12. (Read 29250 times)

It's already being dumped since BTC on the rise, I'm waiting for it to bottom out so I can buy a bunch more

U are right, the UI interface is more friendly with Storj, just some frond end dev. Sia will be a more more secure network, but i agree with dual miner a lot of ppl just dump, so SIA have a long road to do ... I gona buy one of this asic in end on 2017, not sure about this.

What do you think is the biggest thing that sets sia apart from its competition? I've tried Storj. It seems more intuitive to share storage space. However, I think they might be focused on different clients?

Hopefully SIA goes up, but with so many people having a ton from dual mining with ETH I think it will get dumped hard before it can go up.

ok, thanks for the replies. I'm still planning on getting a couple of the miners but holding out for a bit longer right now.

Pretty good article about SiaCoin

https://arstechnica.com/information-technology/2017/08/investors-poured-millions-into-a-storage-network-that-doesnt-exist/

It's a valid question, and of course I can't answer with certainty why one coin moves one way, while another moves a different way in the short term. Any answer would be speculation.

BUT i will say this much... I think the Sia team is taking a more measured, long term play. They are focusing on their infrastructure, technology, scalability, updates, and (with these Obelisks) securing their network /blockchain.

Sia's development team seems to be less focused on short term pumps... keeping their marketing powder dry for when their network is actually able to compete with data storage juggernauts like Amazon...

You only get one chance with some of this stuff, just my rose colored humble speculation..

Pump & Dump

Anyone care to comment on why Siacoin is down to almost 100 satoshi while Storj is soaring up over a dollar fifty.

Pretty good article about the future of cloud storage.

Talks about Sia and their competitors like Storj

https://hacked.com/cloud-storage-mature-saturation-early-adopter-phase/

Good news for SIA . To The Moon coming?

Seems cool.


Get it? oh, I kill myself.

A lot of you keep mentioning this is a gamble. Sure. But so is all of crypto. I don't see how this is any more of a gamble. I feel it's even less so than a lot of other options out there.

And I really like the passive income aspect. I don't have a lot of income, so in order to get more money into crypto, which I believe is the smart thing in 2017, 2018, 2019, 2020, this enables me to do that.

I was thinking, sell half, leave half in siacoin? That way I'm made full in about 4-5 months. After that, all else is profit.

And I do believe in siacoin.

I had some glass .the old type folk on old dressers...I put it down because of the cheap half assed controller board just sitting on the table KNC titan setup (sucks)

so seems to keep it a bit cooler and a bit of anti-static me thinks...and looked better there then on the old dressers

the workbench is like 200 bucks at sam's club and real frigging butcher block and heavy duty steel legs...also the shelves are menard's closet setup stuff

works slick

the PSU's are a buddies idea (maxumark) he found the bladed back plates with the computer protection guts of a regular PSU inside for over voltage protection etc
pop'd them in the old knc Jupiter 550gh btc case and 15 AWG wire no y connectors needed 2580 watts at 94% eff (vs corsair1200i 91%) and cost 300 bucks for
the works new....platinum also (equiv 1200i Corsair 1200 watt also 300 bucks only ran 1/2 a titan) thus a good hack

and again as to siacoin

they will either make it as a decentralized storage operation as they have planned, cheaper than the big boys, using ASICs for speed, security etc, transactions
with the siacoin's themselves acting more as a token than a store of value...or we are all screwed.

this project works as a bitcoin equiv of a decentralized storage with the ASIC's and siacoin as kinda tokens angle

or it all goes poof...thus the ASIC's they have stated would not work as a gpu merge mined coin for the purposes they want to use this coin for .not enough control
security etc

so this is long term 2018 stuff ...or so in my limited way as how I see the project so far and I also BADLY needed the equip depreciation this year

thus it is a gamble

later

brad

Out of curiosity, why the plexiglass foundation? Just aesthetics or a heating reason?


Anyway... These SC1's are looking more and more tempting... I wish this bull run would start already so I could more easily afford one. Someone lend me the cash?

With 28,428,047,460 coins already in circulation doesnt leave too much room for any major future price increases. Id avoid buying from future obelisk batches.

yeah I pulled the trigger and got two more (see my pm to you) I added 2 tonite to make a total of 4 units. 1 in first 100 lot. 2nd in 1300 area and this last in the 1450 lot or so.

no idea...just probably have them setup in a row on my miner table setup ...the titans should be doorstops in the basement by then or I'll put them with my main
stuff at the data hall...

I don't have data hall pics..but the setup by the dryer in the pics below is still going strong in the basement. All other hash is elsewhere. (ran out of data hall room)

lostgonzo.imgur.com

Again probably same setup with the 2580 server psu's in the old jupiter cases below for power. (notice no y adapters needed on Titans on the 1 server unit. 15awg wire.)

anyway sent you a pm

brad

Hats off to Searing for putting his money where his doubt usually is.

Personally, I threw a bunch of crypto towards hardware that's FINALLY starting to arrive. I bought an Obelisk the first hour they went on sale, but haven't bought another one since. I'm hoping to buy 3 more when my crypto flow allows... and a(n irrational) part of me is worried they'll sell out before then... Luckily the sales counter seems to be on my side.

On a side note Searing, if you're buying 4 SC1s... how do you plan on stacking your Sia when you're mining? Do you plan on holding Sia, or trading out of it? Reinvesting it in the SC2?... ... or maybe selling data storage at a reduced rate? A combination of all 4?

Nobody can accurately predict what impact these ASICs will have on the price of Siacoin, BUT I CAN give you my rosy speculation if you're interested...

Crypto is such a new asset class, it's hard to find precedent / correlaries... That being said, if you look at the trading patterns of Litecoin and Dash after their first asics hit the market, I believe you'll find that the price initially dropped. I asssume a lot of that was miners looking to ROI by converting to btc or cash, but who know?

That was in the short term... had those miners HELD ON TO what they mined, even when the price dropped, they'd probably be millionairs now, or close to it... In other words, if you factor in the giant price increase of ltc/dash, those first gen asics were EXTREMELY profitable, in spite of the initial dip in price.


That's not to say that will happen here... 2 alt coins are a very small sample set

There's also a big difference between the Obelisks and those first generation ltc/dash Asics...The companies that built the first litecoin and dash asics did so because they thought it would be profitable... they thought it would be profitable because the price/profitability/interest in the coin was already present.

Those factors probably/definitely could/do have a lot more to do with the meteoric rise in price litecoin and dash have enjoyed. The Obelisk Asic company, on the other hand, is comprised of the same developers ass the coin itself... They CHOSE to build an Asic for Blake2b, not because they thought it was the most profitable algo to mine, but rather to add security to their network.

I do think that having a more secure network, AND a development team capable of getting an Asic to market is indicative of a coin that's going places, but nobody knows. It's uncharted territory.. They haven't even done it yet...

But if I may make one humble prediction, I think that future mining newbies will do a quick search for what alt coins can be mined with Asics, and (with the oversaturation of other algos) seek out an Obelisk if only for the novelty and diversity.

TLDR: While having an Asic doesn't guarantee any rise in price for a coin, I do think it's a good sign and indicative of a stable coin with a future. The success of the coin will ultimately hinge on whether people use their coin for decentralized data storage... But an asic is rarified air for sure, and great first step.

Well...not sure that is gonna happen.....been buying ASIC's since 2013...thus....IF and I mean IF
their ASIC equipment can ROI from say 10-12 months, I'd consider that a win, with the equip
deduction, that in USA can all be taken that particular year.

As to other silliness


Well...I'm considering NOW, getting 2 more siacoin Obelisk SC-1 miners to make it an even 4 miners total. (1 in batch 100 and 1 at around 1300 mark..this 2 unit batch
would probably be above 1500 mark)

mainly because I need the equip deductions and BTC as I speak is at $3407 usd. Which comes out at 1.488 BTC or .744 btc each.

Anyone else on who is considering same......(uncertainty loves company)

None to little. The daily Block Reward will stay the same but mostly distributed between Obelisk owners.