SC may be worth shit when the miner hits the market.
It could and should if the network isn't better than now from both (renter and hoster) sides. Regardless of ASIC existence.
I don't believe the development will stall for the coming months so I'm sure the network state, demand for storage and profitability for hosters will go up.
From my point of view the coin price should be depending more on the offer/demand relation for storage and less on mining. That's where Sia differs from most of other cryptocurrencies. As long there is substantially less demand for coins used to rent storage as there are mined coins I see no reason for a big rise in price for the coin.
@osoverflow - it is a very good question. I'm not sia, but as I understand is, SIA devs want to be the back bone of decentralized storage. However there are pans to do simple file sharing in the road map.
I don't think the intention is to build full blown services around the storage as you suggest there, but idea is for 3rd parties to either use SIA as an alternative to storage solutions already build into any services around or to have new services arising around SIA.
Today the only way to interact with the storage system is by getting SIA coins, using the core wallet/client and understnading how the whole thing works. All storage is paid for by SIA coins that is highly volatile, so you'd need to find a way around letting the masses pay somehow easy
If any new service couldtake that hazzle out of it it would be very convenient. The storage will by definition be dead cheap due to the nature the price is calcualted and due to the participants in the network.
@bryan per my research- the renter is not necessarily charged for the 3x redundancy..but their contracted 'space allocation' (amount of space they purchased) is charged.
Example: I buy 30GB of data. If I upload 10GB the system is not charging me in additional SC, but it appears via the contract file that the overall amount of data used is 30MB due to the 3x redundancy.
This can be a problem for hosters who may be sacrificing additional storage capacity for no charge.
I mentioned this in dev just yesterday. I understand what we are told, but what we are told versus what we can prove and see can be 2 different things. The 'renter contract' file shows what I am saying.
We are based in Norway, where cryptocurrencies are considered a 'service' and subject to sales tax (aka 'value added tax' in Europe) for domestic purchasers. Sia is in fact a service (cloud storage), so its not as odd as it sounds. Thus, there is no requirement to register as a money transmitter here.
Nice - in Switzerland, you'd likely still need to follow basic AML/KYC rules, this takes the form of being a member in a self-regulating organization, and pay for their auditor to stop by and check your processes & books once a year. Not as expensive as registering as money transmitter in the US, but also not as easy as you make it sound for Norway!
as per your bullet 1: the networks decides the price - it is in theory referred to the rush towards the bottom, eventually making the price very very small.
bullet3: It depends shat you defines as ready? SIA does offer storage and retreiveal of files on a very basic base. The price mechanics works, the transfer of revenue based ont hte host ability to do proove of storage also works - I see amounts coming in from old contracts.
the issue still stands that the supply of storage is growing, but that the demand does grow much slower.. I personally do not see an increase in demand before there is a thin client that can be used for other services to build on also enabelling mobility as well. OR if SIA teams up with a 3rd party that can drive the demand up..
@johnathanhowell posted this: "You can quit the UI (right click the Sia icon in your system tray and click "Quit Sia"), then navigate to your Sia directory and delete the wallet folder. In windows, this is located at %APPDATA%\Sia-UI\sia\wallet, in Mac OS X this is located at ~/Library/Application Support/Sia-UI/sia/wallet, and on linux this is located at ~/.config/Sia-UI/sia/wallet.
Wallet deletion and importation features are planned for a future UI release."
@snakes imo, sia would be a terrible choice for medical records. For a distributed medical records system, I would want a, say, two-of-three multisig access. This would give me control over my records while allowing a recovering path for the day I lose my sig by mistake.
Additionally, medical records should be selective; e.g. you would allow some data to be released to an insurance company, but not everything.