What in the world is SiaCoin?

SiaCoin is a Altcoin like many other AltCoins that can be mined and traded for Bitcoins or Dollars. But what separates Sia is they provide a Peer to Peer encrypted cloud data storage service.

Ultimately their service functions much like Google Cloud or Microsoft Azure at a far less expensive price. With the added benefit of Sia users being able to get paid for sharing extra storage on their storage drives.

What's the huge announcement affecting Sia's vaule?

SiaCoins's CEO and co-founder David Vorick has made a huge announcement that has really shaken up the Sia community. Sia has just released their own ASIC miners called obelisk! In the past 24 hours, Sia began selling their miners that they claim will enable miners to be able to mine more than 6,000 SC per day! With the coin being valued at around 2 Cents as of this post that would be ruffly 12,000 US cents or $120 each day. Meaning the obelisk will pay for its self in less then 21 days if, in fact, the $2,499 miner performs as expected.

What does all this mean for the future of SiaCoin Mining?

This certainly means the end of GPU mining for the coin. This news has rocked many of the current GPU miners to the core and they have expressed as much to the community. I completely understand not wanting to invest in a piece of equipment only made to do one thing and will be obsolete in the near future. But here's the thing if you are ever going to invest in an ASIC miner it's in the very beginning when they are just being introduced. If everything goes as planned early adopters will be make a very nice return on their investment.

How does the ASIC mining switch up affect the SiaCoin Value?

Well even before the miners have ever been released the coin has been crashing as a result of the push back from the community. Community members are very disappointed with the direction of the coin. But as David Vorick has pointed out ASIC miners bring long-term stability to AltCoins. These very expensive miners only have value if they are plugged up mining SiaCoin. This means SaiCoin will be around for a while with obelisk adopters being heavily invested or even married to the coin in a sense.

What does all of this mean?

If you plan on mining Siacoin in the future, the time to invest in your ASIC miner is now. If you are in invested in Sia on the market don't panic and sale off your your coins. We should see the coin more then bonce back shortly after the obelisk's hit the alt streets. If your just now hearing about SiaCoin now is the perfect time to get in on the coin while is super under valued.

Love to hear what you guys think about the future of SiaCoion. Is it time to jump ship or go all in?