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RE: Siacoin: How to use it to store your files securely
I hope they iron out the wrinkles because the wait umes described are unworkable. What I could not find in the documentation is how the price for storage is determined. If Siacoin price goes up 10x, will storage fees go up 10x as well?
Payment is in Siacoin. Whatever 1 SC price is doesn't matter. If Siacoin price goes higher -in BTC, for example- then you will get less storage space for the same amount of Siacoin, but you will still pay the same amount in Siacoin.
Storj makes it different: they charge the uploaders in USD and then pay -once every month, cough cough more or less in that period cough cough- to the people that host the files in SJCX -or since this week, in STORJ-. Again, if I have to buy USD because my bank only holds EUR, I will still to take into account the EUR/USD value.