Sia coin was just chosen to be BHP Billiton's internal

>>2654292
This link is literally fucking nothing.

>>2654319
http://ftreporter.com/what-is-siacoin-and-where-is-it-used/

http://www.financemagnates.com/cryptocurrency/bloggers-5/siacoin-could-dramatically-change-the-way-we-look-at-data-storage/

https://blog.sia.tech/getting-started-with-private-decentralized-cloud-storage-c9565dc8c854

http://www.influencive.com/move-bitcoin-4-cryptocurrencies-making-mark-ethereum-stratis-ripple-siacoin/

And

https://blog.sia.tech/getting-started-with-private-decentralized-cloud-storage-c9565dc8c854

WISDOM FROM BEYOND
Thanks very much.

I know the Sia developers personally and have audited their code, in particular the crypto stuff where I'm an expert. That's all solid, they're using standard signature primitives in the correct ways, which is good, but it can also (almost) be said for Ethereum.

The unsolvable problems they have to deal with are incentive models and identity/reputation. I'm not an economist or game theorist, I can't say much about incentives except to say that the Sia folks are extremely smart and have put a lot of thought into this. To be a host you need to put up a fairly large bond and you are punished severely for any downtime, which discourages casuals and also works as an anti-sybil mechanism, which means that your host uptimes are independent and high. Then when you're renting space, you split your data up using a Reed Solomon erasure code, upload encrypted chunks to everybody, and then you need 1/3 of your hosts to fail independently before any data loss can occur. If everyone is independent and 95% up, which is abhorrently low, then a 20-of-30 split gives you 13 9's of reliability. On that point these coins blow everything else out of the water.

>>2654292
And what would bitcoin's actual use be?

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>>2654449
Quality post, is this still /biz/?

>>2654459
mean to buy shitcoin and speculate by day trading

>>2654449
i think i will start to do this on my mining rigs, just to start to see how it works. It is exciting when you find out that this brilliant tech can be used for other than speculation

https://explore.sia.tech/
Total File Contract Size 169 TB
https://coinmarketcap.com/currencies/siacoin/
Market Cap: $379,033,045
169 HARD DISKS COST $379,033,045
1,933,842$ EACH
95% OF EARTH'S POPULATION CANNOT THINK BY YOURSELF AND DO SAME LIKE NEARHOODS

>>2654449
StorJ works similar, the main point of contention between them as I understand it has to do with StorJ having a "renters actively pay every period" vs Sia's "renters put up a bond which they refill periodically, and can drain, and hosts are automatically paid from this". This affects some edge case somehow, I don't remember the details.

Filecoin I understand just copied the Sia model and made an ICO out of it. Very frustrating. One thing worth noting is that the Sia people have never ICO'd, they have tried explicitly to avoid any security issuance, premining, "ICO" bullshit or other scam-like business structures. Instead the developers and a few others take a 1-2% fee on each transaction, similar to ZCash but significantly less...
...before launching, David from Sia asked me repeatedly if there was a way he could do file storage contracts with Bitcoin so that he wouldn't even need a coin. We worked on this for a while but couldn't find anything that didn't require general ZKPs such as SNARKs.

You could sorta do it on the original Bitcoin with OP_CAT, because you can hack together Merkle proofs with that, but it's gross and anyway isn't supported anymore.

So they're very honest people and they're certainly people I am willing to bet on.

Whether the systems can actually work....well, as you say, there are very hard problems surrounding them. I don't know. It's a pretty big gamble on incentive models.
if you're curious about intelligent smart-contract directions, look into Russell O'Connor's work, as I mentioned. I'm not sure if he has slides up or talks, but he's thinking about language design with an eye toward strong provable assurance of various properties, which is exactly what you need for smart contracts.

In the privacy/scalability direction Andrew Poelstra has been talking about this "scriptless script" thing that could work in Bitcoin, he has some slides
https://download.wpsoftware.net/bitcoin/wizardry/mw-slides/2017-05-milan-meetup/slides.pdf

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>>2654449
Great post and thanks for the insight

can somebody break it down.

what's the use of siacore.
I'm on my phone right now

sorry for beeing lazy.

>>2654292
I am dumping this shitcoin as soon as I break even. Price is too crazy and I don't like this amount of risk. Too many downswings.

>>2654548
Decentralised storage in which hosts enter contracts with customers who wish to rent storage space from them. The customer pays a bond that they add to periodically, and the rental cost is periodically withdrawn from the bond, I think this occurs monthly, but there might be other options. The way I think it works is that you don't so much manually enter a contract with a specific host, you just request an amount of storage space required monthly, and sia forms contracts and allocates you space on their respective servers. This way your files can be split, and encrypted, offering some degree of redundancy.

>>2654548
Shit, sorry I misread your question

>>2654449
You don't fool me. I recognize that post from the eth thread. But it's always good to repost for further interest.

>>2654292

Look into the reality of this shitcoin and you will be disappointed.

>>2655576
I saw the crypto blink at me and it made me rich.
What did you see?

>>2654513
You were in the thread last night talking about the serious issue with ETH. Please man can you drop a throw away email for me? I'd love to pick your brain a little more. You were the one "gainfully employed" in cryptography at the moment. I'm a huge enthusiast and love to me like minded people.

Just one of very few coins that actually have some tech behind and much more safe to invest into. I'm not sure if Sia will beat Amazon or Dropbox, but it definitelly has its customers. Although I wouldn't expect crazy gains from it because its market cap is quite high already. Hoping for x4, may be x5

>>2655736
x4 in a year is still insanely huge, you spoiled crypto kids

>>2655759
I know, 400% is crazy but that's crypto, and btw I'm not expecting it to do x4 this year

>>2655759
This. If your financial advisor told you ge could get you 75% profits in a year youd think it was a scam

>>2655770
*300%

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>>2655759

>300% gains

>>2654292
BHP is a fossil fuel company, and fossil fuels are a dying industry. 0.02.

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>>2655791
>Iron ore is a fossil fuel

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>>2655791

>>2654489
fuck

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>>2655791
merica

I work for bhp.

Sia has an application yes, but is there a need for that application? No. Pointless.

>>2656109
What's that like

>>2654292

Sia is a scam and the CEO is a moron.

>>2656146
Pretty comfy company bro. Good money, good conditions.

>>2656156
>t. shawn wilkinson, Storj CTO

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>I have an idea this system could be used for the SAP system we use here

what did the guy who deleted the post mean by this?

>>2654465
This was copied from a smart guy in another thread. He was there primarily to tell everyone why Ethereum is a steaming pile of shit.

>>2656504
True, he said eth was a financial scam and that people know it

>>2654292
It kind if blows my mind how little sia has moved lately. If I were to pick ONE coin that I legitimately believed in, it would be sia. Yet it hasn't even broke 1k yet

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>>2654489
>95% OF EARTH'S POPULATION CANNOT THINK BY YOURSELF AND DO SAME LIKE NEARHOODS

What did xe mean by this?

>>2655708
yeah maybe you guys can exchange phone numbers too and you can meet up to suck his dick

>>2654489
your analysis is always spot on. i want to buy your brain.

>>2654449
i just loaded up on 18k sia. love this coin.
thanks for the info anon

The quickest way to double your coin is to train your hand to be super quick. Once you have mastered that, check out when the next pump is and what coin it will be. In 3 days it will be announced upcomingpumps.com. All the haters are simply slow people who risked their money and could not make quick buy and sell orders. Some win, some lose. If you have quick internet and decent computer, your chances are high. It is nice seeing people comment on how they made $200 from it, but then there are people who hate and denounce . You know what your are getting yourself into, dont risk what you cannot afford to lose. It is very fun thou.

I bought 500 of it as a test. Few bucks aren't shit but it'd be cool to see.

>>2656141
are you retarded?

>>2654622
even better for a daytrdaer ;)

>>2657259
INCNT caught my eye. i was in this and left for a small profit but now it went up again. could this be the one?

>>2654513
>the Sia people have never ICO'd
wrong, they sold siafunds

Golem is doing better

i dumped all my sia. at one time i thought it was promisng. however, since their obelisk asic miner bullshit, i just think the whole thing is stupid. they are trying to take this in the wrong direction

sia is legit one of the most undervalued coins out there. there tech is the best. they aren't just a knockoff bitcoin.

>>2659569
Yes this post wasbvery informative im going to hop on this project.

JESUS TAKE THE WHEEL

>>2654292
Ditched my stagnant SIA FOR ANS. Best decision I ever made. SIA will never hit 1k sats

>>2658398
Sia funds are not ICOs

Sia is the new Amazon. Watch it go $10-20 by the end of the year.

>>2659928
Found the bagholder

>>2659928
if amazon had downs and a wheelchair

>>2660279
Facebook didn't rule the world in a year.

>>2655708
I'm the guy from the other thread. The person you're talking to now is just copy/pasting me. I'm not sure how to prove this.

Anyway my email is [email protected] ... I guess you'll be able to tell from my answers to your questions whether or not I'm actually the other anon.

>>2660459
10$ is a ridiculous est. you could atleast make your bullshit sound believable

Is 550 good place to buy?