It's not done, but I'd definitely say the altcoin bubble is taking a breather. The vast majority of coins are going down at the moment, though that doesn't mean that they might not come back after this.
Bitcoin is going straight up at the moment, highly unsustainable. I'd imagine everyones ditching Alts for BTC because they don't want to miss out on the action.
Has alot to do with the market as a whole and not so much with each individual coin.
I've notice Altcoins & Bitcoin go through phases where they correlate & rise with eachother then switch to completely opposite correlation, with alts falling as bitcoin rises.
At the end of the day, both markets rise alot whether they are in lockstep or not. The question is: Is it over? Ik bitcoin has to be close to a proper correction. This is reminding me immensely of 2013, the jump from 600-900, small correction, then major jump from 900-1260... before moving downward. The difference is, this time everythings hunky-dory, no Mt Gox's & Chinese government bans lol.
I'm on the fence, basically.
Topic: Is Siacoin done? (Read 1032 times)
Far from done. Just really going long term.
Bitcoin and Litecoin suffered the exact same problem back in the day. That being the announcement of ASIC's dropping the price to merely nothing. Not that ASIC's are bad. The problem is a lot of people are dumping all their Siacoins to afford to purchase their Obelesk ($2500) which is taking the price down along with it. The price will remain low as well until people start paying off their ASIC's they purchased with new coins in the future. Then finally things should settle down. I have seen this cycle twice now, and when you consider it took down even the mighty BTC, it isn't that much of a surprise.
Everyone is looking for a huge payout right away. This can't happen with such a small team. (Think No Man's Sky). They will get it, but they need a lot of time to get everything down before they can try marketing to others. If they rush out of the gate to try to drive up profits to soon, they again think No Man's Sky, will end up ticking off a large portion of their market, and you only really get 1 chance.
Bitcoin and Litecoin suffered the exact same problem back in the day. That being the announcement of ASIC's dropping the price to merely nothing. Not that ASIC's are bad. The problem is a lot of people are dumping all their Siacoins to afford to purchase their Obelesk ($2500) which is taking the price down along with it. The price will remain low as well until people start paying off their ASIC's they purchased with new coins in the future. Then finally things should settle down. I have seen this cycle twice now, and when you consider it took down even the mighty BTC, it isn't that much of a surprise.
Everyone is looking for a huge payout right away. This can't happen with such a small team. (Think No Man's Sky). They will get it, but they need a lot of time to get everything down before they can try marketing to others. If they rush out of the gate to try to drive up profits to soon, they again think No Man's Sky, will end up ticking off a large portion of their market, and you only really get 1 chance.
Sia is far from done, i believe. Excellent point to step in, in my eyes.
Greets Hank
Greets Hank
No, it's not done. Just zoom out on the charts and look at what the price was back in April. I'd be concerned if it had a high price and an inactive team. Low price and active team is not as much of a concern - it just shows they're focused on the product rather than $$$. If the product succeeds, the price will increase. Ignore the lack of hype - a quiet team can mean they're hard at work 
I see active devs on their subreddit but they don't provide any information.People are still saying buy it since it's cheap but i don't think it will have a feature if it keeps going in this way.
It's not done, it's just that developers don't care about the price, they care about the project. When project is working as it should and new users come to the platform, the price will rise. It's not dead.
We see a new thread about "dead SC" everyday..
We see a new thread about "dead SC" everyday..
I've been reading a lot of fears about SC being done because price. I also read that the dev team is failing to market itself and thinks that low prices is a good thing. I bought for the long term, but I'm curious what is going on with SC. Have they stopped working on product? Why is the price failing to rebound.
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