Siacoin Summary
Siacoin is a truly decentralized storage solution. It's competing with solutions like S3 and may have apps built on top of it like Dropbox or Box.net. Costs are expected to be about 1/5 that of current providers. Sia coin is used as collateral by hosts to ensure that they have an incentive to protect your files and by you to pay file hosts. There is a supply of 27.4B coins currently trading at $0.013 with a market cap of $364MM.
You can find out more about the technology at https://sia.tech.
Obelisk ASIC Miner Pre-Order
To raise funds to continue supporting Sia development as well as add hashing rate to the network, the Sia team announced an ASIC miner pre-order.
The Obelisk Miner Pays for Itself?
The Obelisk is $2499 or about 1 BTC. According to the site calculator, if the minimum target of only 2,000 units are sold, you could be raking in up to 300,000 SIA a month. SIA is currently trading at $0.013 so that would potentially earn as much as $3900 back in that first month.
In all likelihood, they will sell more than 2,000 units, but even at 4,000 new units you could earn back the full price of a unit within the first couple months.
If you are interested in a miner, you can pre-order at https://obelisk.tech.
Questions for you to comment on
- Is the miner a good deal?
- Would you buy Siacoin directly?
- Can Sia compete with Dropbox? What about Amazon S3?
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