New to cyrptocurrency and sia

  • Hello

    How does this work? I am new to this. Can someone help me put much appreciated.

  • @moey124
    That can't be explained in short and simple sentences.
    You probably should start by reading the Sia Wiki and other linked pages in the Links section on the right side of this page.

  • In my view, the benefits of using a decentralized file storage (like Sia) is the following. I'll actually give you my pros and cons:


    • No single authority can take down your hosted files. For instance, if you upload a file to Google Drive and Google "doesn't like it" they can delete it or close your account and you won't have anything to say about it. (The same applies to any other file hosting service in U.S. or not, including Mega, etc.) With decentralized file storage peer-to-peer network (p2p), like Sia, a single government, company, etc. will not be able to do that.

    • I believe (someone will have to confirm this) files remain anonymous if hosted in a Sia p2p network. So your file from the example above will not be immediately linked to you.

    • Files stored in a p2p Sia network are immutable. (In other words, no one can change them while in storage.)

    • You can earn money (Sia coin) by renting out your free (or unused disk storage.) I will not be doing it myself, but it's available.


    • The Sia network seems to be very slow at this point. (Hopefully it will change in the future!)

    • Wallet setup is cumbersome and slow. (Hopefully it will change in the future!)

    • There's not enough users on the Sia network (yet) to make it worthwhile. (Hopefully it will change in the future!)

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