Topic: Sia - Siafund Redemption Deadline: June 1st, 2015 - page 25. (Read 68743 times)

Maidsafe has been developing for 7 years.
You think you and your anonymous team are going to be able to accomplish what they couldn't in 7 years with a large team?

This is not the first intended "proof of storage" system to grace our forums.
Do you have any proof of concept yet?
It would be nice if this was real and not a scam, but you are biting off a very big piece of pie.

random post ?

Thanks for you Awesome Work and Support !!!

actually it sound interesting (sound like a bit like torrent...)
But what about the network traffic generated by this ?
What kind of file gets into the storage ?
How do you protect the rest of the computer from being infected by crappy files downloaded there ?

interesting project.
would like to know more details.

This one looks intresting. I would also like to know the total cap coins.

Max Coins is？I want to know the total number of this coin

There's likely to be some giveaway after we launch. One of our fears is that there will be a bunch of people trying to mine and nobody storing data. If there is nobody storing data, people can't mine (it's part of the security of the network, you can only mine once you have something to store). So we might do some giveaways so people can start storing things.

The other bump (looking for a work-around) is that you need to make a down-payment in siacoin before you can start mining. Before Sia is on any exchanges, the only way to start mining will be if someone donates you coins. We'll be passing coins around to help people out. I'm pretty sure though that we'll think of a better way to kick-start the network.

We might also just nix the required down-payment for the first 3 months. It opens up a bunch of attack vectors but if nobody is abusive initially then it won't be a problem.

any giveaway?

Oh this could be huge. I will this thread.

I would say that we are competing against both maidesafe and etherium.

Though I didn't mention it, Sia intends to include a turing-complete scripting system that should put etherium to shame. This isn't yet designed though (we're saving that problem for last), so perhaps it's too early to be certain that we can do better than etherium.

As for maidsafe, I'm having troubles understanding exactly how their system works. It's not well documented (I guess ours isn't either) and some of the features (like data only being stored on 4 machines) seems really insecure. I'm keeping a close eye on Maidsafe though because they seem to know what they are doing. We are a storage only system however (though we offer turing complete scripting, we don't expect it to compete with a real computing platform like EC2) where Maidsafe is bandwidth and compute as well.

I'll have to count on you guys to build a better coin service that the public can understand more easily then.

are you guys competing against maidsafe and erutheum ?

Sia has changed substantially since the creation of this thread. Much of the information, especially in the early pages, is incorrect. A new thread has been created here: https://bitcointalksearch.org/topic/ann-sia-decentralized-storage-1060294

Sia is a new cryptocurrency that is being actively developed. We have released a whitepaper, and are in open beta.

About Sia's Technology:

Sia is a proof of work blockchain just like Bitcoin. A single feature is added that which enables clients and hosts to make storage contracts that will automatically be enforced by the network. More can be learned by visiting our website and Github page, and by reading our whitepaper (all available from our website).

About Sia's Economic Model:

Sia compensates hosts using a cryptocurrency. This cryptocurrency, Siacoin, will be easily exchangeable for bitcoins and subsequently USD. When the currency launches, 10,000 siacoins will be mined per day and distributed to hosts according to the volume of storage they offer to the network. The number of coins mined per day will decrease until the 4 year mark, at which point the network will mine coins such that the annual inflation rate is kept permanently at 5%. No coins will be premined.

Storage can only be rented using siacoins. This presents a major inconvenience for most people, so we will be providing a service that allows users to rent storage with USD, transparently exchanging dollars for siacoins behind the scenes. The siacoins spent on storage go directly to the hosts that hold the file, with the exception of a fee. The fee is distributed among the owners of Sianote. Currently, just under 0.5% of all host income has been distributed/sold/circulated as Sianotes on the Nxt Asset Exchange. The devs are no longer selling sianotes directly, they must be bought on an exchange. More can be found at www.siacoin.com/sianotes.html

Use Cases:
Since files are spread across hundreds to thousands of machines on Sia, the throughput for downloading a file is expected to be on the order of gigabits per second. Optimized files can enjoy latencies below 100 milliseconds from nearly anywhere in the world (or just on a single continent if the goal is to save money), and low redundancy files can be maintained at slow but highly reliable speeds for much cheaper than existing cloud storage solutions.

Any static data that already gets transferred over the internet would be more efficient through Sia. Every image on the internet could be embedded through Sia. This reduces the workload and bandwidth costs of webservers and makes websites as a whole cheaper to run. The same also applies to videos, which would substantially lower the barrier to entry for video websites. We plan on making Sia javascript and HTML5 friendly, meaning that pretty much any website will be able to integrate with Sia and pull content from Sia.

Sia is also friendly to applications. Imagine a music library that does all streaming directly from Sia. Right now, services such as Spotify and Pandora stream compressed music, because bandwidth costs are high when moving media around. If they streamed the music from Sia however, the costs would be reduced such that streaming FLAC from Sia would be cheaper than streaming mp3 or ogg from their own servers. Imagine video games that manage save files from Sia. Imagine streaming movies from Sia. Imagine downloading applications from Sia instead of sourceforge, a package-manger mirror, or Steam.