This project looked good to me about 3 months ago for the same reasons that you've mentioned. I'm down about 2/3 on this coin. I stopped putting money into it when I read that the project does not consider the coin as an investment but more so a token to be used on their network. The project wants to keep the price low as well.
Currently there are 30 Billion coins in circulation which is a lot. My notes from a few months ago had them at 29 Billion. Either my notes are wrong or the project has added more. On CryptoCompare there is no maximum amount given for the coin.
For now, I am holding onto these coins for in hopes I can get my money back.
Personally I like the project but I have my reservations on the coin as an investment.
JMHO.
I hope this helps you in your decision process.
Some other low cost coins with good potential are XLM and ADA. XLM had good news with IBM last week. I'm waiting for it to go down to 2 cent range before buying. ADA may have some good tech coming out. I did purchase some ADA today. Both have a lot of coins in circulation though.
Additional Info:
https://steemit.com/cryptocurrency/@blueblarflubar/if-you-want-to-invest-in-sia-buy-siafund-not-siacoin
Good Luck in your choice!
Thank you for a comprehensive answer 🙏🏼 I will reconsider / research more before I decide whether it should be the coin or another coin that should be my next purchase.
I will check out and follow ADA as you mentioned .
You are very welcome. I hope I didn't come across negative. I was concerned with my answer that was based on my recollection of discoveries a few months ago so I did some refresher research. Be sure to to check out the link I added to my reply post. Another Steemer did some research months ago on the Siacoin and Siafund relationship. Very eye opening. The no maximum makes sense now.
Yes, please research and review the info in the link to come to your own conclusion.
Good Luck!
Please don’t. I'm very happy to share your experiences and thoughts about Siacoin. I need different angles and because I'm new to this, I'm just grateful for your advices 🙏🏼
I will definitely check the link later .👍