Topic: Lets talk about Sia's Obelisk (Read 3229 times)

Yeah that doesn't even make sense.  I'm sure everyone would notice right away if the hashrate of the Sia network didn't jump massively when they go online. 

Man, I usually agree with your posts so can you please elaborate on the scam thing and why do you believe this?

It scam, ordinary ASIC for BITCOIN, but with software for scam mining pool. This minig pool will take to youself BITCOIN from cooperative mining.

@mktorn, @Vivisector999 has explained it, I can't elaborate more, don't want to say something without being 100% sure, it's technical & Hi-Tech we are talking about here and I don't have enough knowledge here.

Sia's price is $0.006506, I had a feeling that I am buying too early, with all this obelisk news and not selling enough. Now only 1240 has been sold, people obviously expected more from obelisk, faster deliver of hardware or/and more reasonable price, even if it had less hash power proportionally. I would have bought one ASIC for 650$ maximum, even if it had x5 less hashrate than the actual one, just to support SIA's infrastructure, to contribute to the decentralization. I have some hundreds of hashing power now, I can afford 2500$, just not for this product - 1 year in crypto is a lot, with the money for one ASIC, I can buy 5x 1070, mine for a year, sell them and buy an ASIC if somebody will sell it, if no, oh well, another "risk" I am willing to take.

Locking $2500 for an ASIC after a year? A horrible investment, $2500 are $2500.

Anyhow, I am optimistic, I really see the people looking at the obelisk page and getting disappointed every day, those are the weak people, I believe SIA's team have some ongoing deals with some big money, partners and they will sell those ASIC's very soon, check twice a week the obelisk page, if some chunks of 100+ will be sold daily, the deals are on and it's time to buy.

0.0065$ is a good enough time for me to buy a bit more - another 5% of my total SIA's.

Unlike most other coins, Sia is built around having a Cloud Storage backbone running off it's Blockchain.  You can "rent" out your HDD space for a contracted amount of time, in which you would receive encrypted files that could only be accessed by its owner, or those the owner shares it with via the Blockchain.  They are trying to compete with One Drive, Google Drive, iCloud ect. 

They need to have a lot of trust built up to have people entrust their files to be stored on their "cloud", and by creating ASIC's for their coin, they are taking a step towards trying to build up that trust.  At the expense of ticking off some GPU miners. 

Having a 51% attack and a double spend is bad enough for a coins future.  If they lost access to peoples files, or worse, made their files available to others, it would destroy any hope they would have of coming back from that.

Can you expand more on how the infrastructure and data would get affected by a 51% attack? I thought it would just be like others where the attacker could prevent transactions or double spend so I am interested in learning more about what you mean

Thank's.
Of course they sell them for money, I would be suspicious if they wouldn't calculate at least some profit on ASICs. I also understand why ASICs are necessary for a cloud project, if in a regular currency in case of a 51% attack people lose "only" their coins, with SIA a 51% attack could lead to the destruction of SIA's cloud storage infrastructure and the loss of all data.

That will be catastrophic for SIA, such an attack could destroy SIA completely.

I found good support at $0.010, bought +20% of my total SIA holdings.

You did a good sell /buy back trading. Congratulations.But crypto world is complex, maybe they just want to sell ASICs for money.

Now that they want to raise money for 4000 ASIC's, the price may still drop. I will search for a strong support and buy from there again. Yes, and I am reading that topic you mentioned, just did not have anything to add.

Hardcore totally called it! Major kudos, accolades and crypto-cred...It dropped in price, and probably for the reason he gave. Only a few hundred people purchased the first week 1000 units. I'd imagine a lot of them were Do a believers who unloaded their Sis to buy one (or 3).

I'm new to SIA, but this ASIC announcement got my attention. Everything I've learned about them since then has only instilled confidence in the coin long term. Even when sales came in lighter than they expected, their transparency and mea culpa was impressive for a crypto.

I pre-ordered one the 1st day and am now considering another. Check out this other thread on the Obelisk if you're interested.

https://bitcointalk.org/index.php?topic=1976753.20

Thank's mate!

Nice sell/buy HardFireMiner 

Did you read the thread or are you just running around and spamming the same comment here and there? I told you when I bought, what price, when I've sold and when I re-bought.

If you bought at the top, you may be angry, I understand.
But if that happened, do not panic and just hold.  You will eventually get a high return after a while.  This is the market, this is crypto

Okay, now I see some sort of strong support around 0.013$, I have bought again now with 0.0148$, needed confirmation of strong buyers, that's why I didn't buy at 0.013$, the same amount I sold earlier, 25% cheaper.

I was right, yay!
Now lets hope Sia is really great as I believe it is.

Yes, I know, I think SIA has an awesome coin, my sell decision wasn't based on that. I also know that within last week a lot of coins got spent or lost on renting space, 'cause the people providing space modified the contract conditions. Didn't got too much into it, but that was enough for me to sell at 0.019875$. Now it is 0.015341$, I can re-buy it again at 23% discount, my plan is to buy somewhat around 0.012 - 0.013, I will see how the market will evolve. Now that almost all coins are falling, seeing it fall too even if it has a great project behind the coin proves I was right - someone is selling SIA big time, my guess is the guys who already support SIA but needs money to buy the ASIC's.

SIA is a great project, lest hope it will continue in the exact same manner as till this day.

I think it's a good strategic long term move that fits in well with the overall vision for SC.

Unfortunately or fortunately depending on how you look at it the expectations are huge announcements/news that bring immediate rewards to people in the form of price jumps that make them feel good about their investment. Expectations are a helluva thing.

Depending on how some of my ventures go in the next week I might be able to swing for a miner. Either way I'll be doubling down on SC. It may not be as exciting but cloud storage is a huge business, and if SC pulls it off..everyone wins.

You have to remember though.  Sia isn't like most coins, its "purpose" is to create a cloud storage network, and rent out the space.  So I do see why they want to move in that direction, to better secure their chain in the future, since their business model relies on it.  They need a lot of trust built up in the network in order to have people purchase space and store their files. 

Also, if you go through their contracts for setting up a storage space to earn coins by renting HDD space, they actually already make the "big backers" put up coin collateral in the range of 100,000 Sia coins per TB they sign on for, which is already around that $2500 price tag, just to earn the trust of the buyers of the cloud storage space. 

Some people have some money apart, some don't. If I would be a big SIA supporter, I would have most of my coins in SIA. That was just an assumption of course, If I would have a lot of BTC, probably I wont sell my SIA, but from my side, I see an oportunity from this release - to buy SIA cheaper, I bought it late, around $0.013, so I am guessing that I will be able to buy again, as I like SIA. Again, maybe it will go straight up, this is a risk I am willing to take.
   

A little bit weired...

The dev-team introduces a milestone to strengthen the sia-network
!
!
!
You say:
Big supporters have to sell all their sc now.

Don't you think, that big supporters have some money left apart from their investment in sc ...?
Don't you think, that producing a unique piece of hardware for sc only is a big big proof of the trust from the dev-team in their project?

But:
Please sell your coins.
Looks like some people are not ment for earning profits...