Topic: Sia - Siafund Redemption Deadline: June 1st, 2015 - page 12. (Read 68743 times)

So I have to consider buying some storjcoin too now? I would very much appreciate if one of the storj guys could give an honest description for the layman as to why storjcoin will have value and what is it? I already know the reasons why an investment in sianotes can potentially make a big return. Can someone at storj explain storjcoin's goal pretty please?

Yes, I was just wondering from a technical perspective if you are trying to accomplish the same thing, but sounds like you are not really.  Storj seems like a good group of devs.

Well even looking at the past replies in this thread between super3 (Storj founder and lead developer) and Taek shows there is no sense of hostility or competition. As super3 mentioned, we could later on integrate Sia into Storj by allowing people to store on Sia via our application Metadisk, and any drive farming software could be used with our DriveShare GUI. Not to mention how interesting the quorum aspect of Sia is; Storj would be happy to help with applications and frontend and so on.

that depends on the market value of the coin

Can you explain from a technical standpoint how you are not in competition?  I understand you don't believe in competition, but if Sia considers you competition, then you are competitors.

No, Sia and Storj are not in competition. We at Storj do not believe in competition and would love integrating with Sia along with sharing ideas.

So is storj in competition with siacoin? Which should I invest in? Or should I buy both?

Thanks msin. This thread was derailing too much with sia development updates and discussions on the future of crypto cloud storage.

This is the best post on BTT today.  Trust me, I've read them all.

Ping us at Storj when you get a more solid CLI done. We can hack something together so people can store their files on Sia via Metadisk, and any drive farming software can be throw into the DriveShare GUI.

Your quorum stuff is legit, so we can probably help you on the app and frontend portion and let you guys dig into the cool data stuff. Good luck!

Happy to help test and give you more technical feedback.

Thank you for the update and for providing them candidly. You guys have convinced me in the ginormous potential sia has. I am hypnotizing you right now. You are special. You will dominate cloud storage by solving problems others can not. You will make me millions thereby making yourself hundreds of millions. You will make sure Disney does not ruin Star Wars. The last one being the hardest to accomplish.

Yeah, been planning on making an update.

This week was pretty rough, we just moved into our new place (finally) but it was a wreck. We've spent the last few days cleaning up and haven't had time for Sia.

At this point, we're approaching on releasing a test-network, which will a bunch of isolated (IE not talking to each other) quorums of hosts. We'll need a bunch of testers, 20 is probably enough at this point. What we're mostly testing for is network stability. The theory says that we'll be mostly stable, but our local tests have shown a lot more instability than we've been expecting. I'm going to keep tweaking the algorithms but these partial-scale tests are going to give us much better information on what sorts of failures to expect.

We'd want some sort of arrangement where a standard home connection, with all the instabilities that accompany it, could expect something like 90%+ efficiency on Sia (meaning that all of their downtime, plus the fact that they have to share a connection during peak hours doesn't cost them more than 10% income, and doesn't result in them bouncing from quorum to quorum because they keep getting kicked). I have a feeling that our current setup is going to result in a high rate of people getting kicked, but I'm not exactly sure which links in the chain are going to be the weakest. Testing will help a lot, and it will help us figure out where to spend our energy.

I'm not exactly sure when the test suite will be ready. We're already building out a cli, and pretty much all of the functionality is in place, it's just not fully wired together. I was hoping to have it ready by now but we got thrown off with all the moving (we're only two guys and we live together, so all of Sia got affected).

As for hiring more developers, we're close to hiring at least 1 engineer. The thing is, looking into hiring is going to take away a lot of our development time, and training the new guy/teaching him Sia is also going to soak up a lot of dev time. So what I think we'll do is get the test network up, spend 1 or 2 weeks fixing all of the super-big problems, and then we'll have 2-4 weeks to focus on hiring while we wait for smaller or subtler problems to reveal themselves.

Realistically, the new dev won't start working for probably 3-6 months. And then they won't be truly useful for another 3-6 months after that.

Sia is a new complex system, and the codebase is going to need a lot of time and love before it's as stable as Bitcoin. Bitcoin spent several years in incubation. I'm hoping we can be a lot faster than that, but we'll need to see. The good news is that we've got enough funding to last about 2 years, even if we hire 2 additional people. I do think though that we'll have a pretty strong beta up by the end of the year.

As always, happy to answer any questions or go into detail on anything you guys are curious about.

Hello Taek,

Would you be able to give us an update on the progress? I am deliberating with myself if i should buy more Sia currently or not. 

Out of interest would you be hiring more devs to work on this so you can get the product out faster?

Thanks. Yeah, its pretty great. We will have a few tricks up our sleeves, and we don't need too much funding in the beginning. 

Congratulations on your crowd sale btw. I know it's not 9800 btc, but 560 btc is nothing to shake a stick at. I wish you guys the best luck.

Those of us at Storj are happy to see this moving forward.

Thanks for update.

Seems about time for an update on how things are going.

We're moving steadily, though we've been slowed down a bit at this point. Sia is a complex protocol and the program that implements it is starting to increase in complexity. We want a program that's as secure as possible and that means we're making careful design decisions. This is slowing us down, but I think it's the right thing to do. By taking our time now, we're saving a lot of headaches 3 months down the road. August 8th still seems possible for an updated release.

I spend a bit of time last week looking into secure clock synchronization techniques, as these are important to Sia's functionality. Turns out that it's a really difficult problem, and that computer clocks can drift by as much as 10 minutes every day. This has impacts on our decisions about block rate, and makes it seem like the best approach is to assume that one machine will have multiple siblings operating on different quorums, but all using a single logical clock. Doing things this way actually brings in a ton of security, especially if honest hosts are expected to intentionally drift their quorums in the direction that most benefits them.

We don't expect to have any clock synchronization stuff implemented in the next few weeks, nor do we expect to have efficient redundancy implemented in the next few weeks. Instead, K will be forced to equal either 1 or 2 (meaning very high amounts of redundancy), which will simulate the amount of bandwidth that the more efficient algorithms will consume when siblings go offline or leave the quorum.

Our general goals for the next release:

1. Release when ready, as opposed to picking an exact date.
2. Have a 'test-net' with 3-5 machines that we control operating in consensus. The test-net will be open, meaning that you guys can join in as siblings.
3. Be able to upload and download individual files that have a certain, small size cap. The cap is probably going to be a few hundred kilobytes, which pretty much means images and documents only at this point.

It should be noted that uploads will probably take a few hours at this point, because there will be no acceleration. Downloads will be instant.

The deadline has long passed. There are a few people who opted for me to hold their Sianotes for them (instead of sending them to an Nxt address). If you are one of those people, you've got a way to contact me and you should use that route.

Otherwise, the only way to get Sianotes are through the AE. It seemed like the cleanest solution available, and I think that it's still the least complicated way to crowdfund a cryptocurrency.

Is there a deadline to receive the Sianotes from sending to the BTC address in the OP? I had a problem with NXT after an update so I didn't send a NXT address to receive the Sianotes, and am currently migrating wallets to a new computer. I'm not planning to sell anytime soon, so I haven't been in a hurry to receive them, but I want to make sure I don't miss a deadline to have them included in a Genesis block or otherwise receive a distribution.