Time to Pay Attention to SIA Coin During This Downtrend? [crypto-currency]
The whole crypto-currency marketing is experiencing a severe downturn since its recent all time high. At one point, the crypto market capitalization had crossed into the $800 Billion US Dollar mark. It is currently sitting at about $500 Billion US Dollars. That's a rough hair cut of 40% percent in a matter of weeks.
Now, just like hair after a hair cut, I do believe that the crypto-currency market will begin to 'grow back.' Could there still be another shave to the crypto currency market? Sure, but there are signs that there are many more people still on the sidelines looking to invest in crypto-currency. For example, an exchange service for trading stocks will soon start $0 Fees trading of crypto-currency. The service is called Robinhood, and since this recent announcement, already has 1 Million users that signed up and are waiting for the launch of the crypto-trading to begin.
Another sign that people are still seriously investing in crypto-currency is the recent announcement and sale of the ANTMINER A3 by Bitmain.com. This ASIC miner will be using the blake (2b) Hash algorithm, which is used by SIA Coin. Bitmain has broken up the sale of the Antminer A3 into different batches, some of which have already sold out. There are currently some now available, but according to their website, will only be accepting Bitcoin Cash (BCH) as payment, and only allowing 1 unit per person.
As for SIA Coin and its team, led by entrepreneur and tycoon Li Xiaolai, it recently updated their wallet and had a major facelift to the website at Sia.tech. SIA Coin plans to change the Cloud Storage business by encrypting and distributing stored data across a decentralized network. According to SIA Coin, this could potentially drop the price for Cloud Storage by 90%, while maintaining a secure, highly robust and redundant system. SIA Coin's current price is around $0.034 US Cents (0.00000336 BTC) with around a $1 Billion US Dollar Market capitalization.
According to a 2015 article in Forbes Magazine, the cloud storage industry market cap value could reach $500 Billion US Dollars by the year 2020. Currently, the big players in Cloud storage are companies like Amazon and Microsoft. Should the idea and savings brought by SIA Coin's encrypted and decentralized storage network take flight, there could potentially be a huge run up in the price of SIA Coin. First, SIA Coin has to prove it can safely and securely protect user storage data, but it is well on its way with about 4.0 PB of storage capacity available, 870 actives hosts and 138TB currently used.
@streetstyle
Sia will increase a lot this year, this is a sure thing .
They had a problem with the sc trasfers to the poloniex platform and bitrex and others. Some exchanges did not upgrade their wallet to new sia block (at block 130k aprox) because of that sc remained in sc block and not in the exchanges ( I assume) . Many users wait their sc back from the exchanges including me ( about 67000 sc) .
That and the ASIC miners are the 2 big problem that sc had ...but as soon as these problems get resolved siacoin will jump very high in price.
I believe they have resolved their issues with the miners (Bitmain), @cynetyc
Thanks for stopping by.
well if it gets up i will be more than happy because i am in loss right now hahahaa
After reading it looks like i need to keep holding my Sia coins for long :D
it is the best coin's out there in the market slight undervalued still it has long way to go
well seems like they updated the systems good to know because i was having problem in sending
well currently its state is just as a pump and dump because of its low price once it break the 1000 satoshies mark it will explode in prices
it has grown consistently and stable in fact one the top choices of coin to be in the list of 2018
sia coin is an interesting project being heavily invested into it seems good to hold it for long
this year belongs to the coins which has a practical use in the world and sia is definitely on of those top choices
Excellent information and the fact that Siacoin can safely be called a promising crypto currency due to constant growth, which increases the constant price of the coin. If you provide long-term storage, then it will pay off after a while. Siacoin transactions pass very quickly and it attracts investors well, which pulls the growth of the capitalization of the crypto currency. So efficiency increases with the growth of the network and this allows you to multiply the money that was added to the development of the service. Thank you @streetstyle