A few questions before uploading my data!

  • Hello! I'm very interested in hosting some TB of files in the Sia network, but first I have a few questions:

    1. I've seen people mentioning that the actual prices are very different from the ones shown in the website. How much would it cost today per TB in Siacoin? Reference: http://forum.sia.tech/topic/1487/why-does-sia-storage-cost-so-much
    2. Also that in practice you pay for all redudancy. You want to store 1 TB and end up paying for around 3 TB. Is that true? Reference: https://www.reddit.com/r/siacoin/comments/6jdlxe/how_redundant_are_my_files/djdqaid/
    3. What happens if Siacoin moons? Won't storage become a lot more expensive? Are people hoarding Siacoins because of that?
    4. What happens if the person with whom I have a contract suddenly decides to raise the price? I fear my Internet connection is not fast enough, and neither do I have storage available to download the files immediately and place them somewhere else!
    5. In the first link mentioned above, I read the following (and other people agreed): "it's not yet the time to use it for anything seriously. At least not without completely understanding all the ways that you won't be able to get your data back or that you'll pay way more then expected!" Is that true? Which ways can I lose my data, and what to do to prevent paying more than I expected?

  • @jukir
    I'll try to answer your questins one at a time.

    1. What website do you refer? SiaHub.info shows the median prices of active hosts. As a renter you pay for the redundancy (your question 2) thus the price renters pay is higher.
      The current actual price estimate you can get is by typing renter prices in the terminal of Sia client.

    My node tells me currently:

    siac renter prices
    Renter Prices (estimated):
      Fees for Creating a Set of Contracts:   129 SC
      Download 1 TB:                          24.88 SC
      Store 1 TB for 1 Month:                 240.5 SC
      Upload 1 TB:                            23.66 SC

    So if I would make new contracts now that would be roughly what I would get.
    The host scoring is done on each client and differs between any 2.

    Here we are on question 2

    1. Yes, the renter pays for the redundancy. If you want to store 1TB you effectively upload at least 3TB. And by doing it you pay for 3x uploads and storage. But the price estimate your client shows (by renter prices command) accounts that 3x redundancy.
    2. If SC moons, nothing happens in short term. Your SC is already locked for the contract duration. It would get interesting if SC moons and stays on the moon. That is a bit uncharted territory. I have no idea if it works so but in my opinion it should work like this (depends on hosts):
      A) Hosts lower their price in SC, and that new price is applied to renewed contracts. As a result you need less SC for financing those contracts and you should lower your set allowance.
      B) Hosts do not lower their price in SC, nothing changes in existing or renewed contracts. Renters realise Sia storage costs more than competing solutions and move their data out of Sia. As a result demand for SC drops and the price goes down until the storage price gets competitive again.
    3. Depends how much is the price increased. If a little, your client most likely agrees with the new price when renewing the contract. If the increase is substantial and there are enough hosts with substantially lower prices, your client will abandon the previous contract (no uploads, no contract renewal) and make a new contract and upload your data there. In theory a host replacement would make a download (if no local copy available to recalculate the block) and following upload of 1/30 your data stored. I don't know how smart the client is... If the host sets insane download fee, the renter should be smart enough not to download from that host but from others (so the total download fee gets not bigger than that from the most expensive one).

    1. Yes, Sia is not mature enough to be called production ready. There are still bugs and missing features that lead to possible data loss, coin loss or both together. Though, the bugs are eliminated and missing features added, so Sia gets better with every release.
      In my opinion the most critical missing functionality is "restoring uploaded data using seed". At present you can lose all your data stored on the Sia network if you lose your Sia client metadata (Sia AppData folder). So you need to make a backup of that folder after every upload of new data... The developers are working on that but it is currently a "missing critical functionality" for Sia to be called a "backup solution".

  • Thank you for your answer! Since I still have storage space available for around 3 months, I decided to follow the progress of Sia for the moment!

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