Sia price crash/lock/poor perf.
Well this is my first post and not sure of my last.
So many peeps complaining over the poor exchange rates, poor performace on system updates product releases.
I am here to comment on the poor price performance of the coin. Well this comes down to what sia tech is trying to do. They want to provide wirld class decentralized stirage at an unbeatable price.
Great wonderful idea and it can work. But with any idea it comes with its pros and cons.
Pro great low cost storage by using unused hdd space of other people's systems, great capitalist idea, we make lots of moolah of the little guy. I support that too.
Pro the 'man' cant say what can be stored as no one officially controls the location of the data.
No the fun stuff to acheive this ideal someone has to set the rules, cos where is a great system/game without rules. And with rules comes restrictions. I mean by this, that to ensure the system remains low cost is to control the price. Yep and what better way to do that is to create a 'bug' that will make the traders unable or afraid to allow trading. Cos as we all know, with trading and confidence so goes tge price - up up up.
If that happens then the ideal of low cost storage gors out the window. Oops;
, that is until you lock in some mega players with so many legal lock ups that they cant get out of a possible contract to use the system.
Once they sign the line.
But overall to ensure tgat the system roadmap stays on track the price has to be held till it takes off.
So we have the game, the rules and the game master.
So now lets get to how all this comes together. The token holders want to know when the price might moon. Well right now...NEVER!
Sia tech needs to get as many big boys onboard as possible.
By saying that we can supply you with unbeatable storage at an unbeatable price. Awesome.
Saying that you might wonder why am i buying or mining this coin then. What if no real players come onboard. Well yep sia will go the ghost. But even if they do come on board sia will have to strictly regulate sc price based on that if they 'fix' the bug that is apparent on the walket, which is what every trader, miner, investor is asking for, then the bulls and bears step in when they see something worth working with and guess what. Up up up, but then sua looses control of thermir ideal, low cost storage. If buying coins becomes to prohibitive then no one will use the system.
Recapping. I dont think sia will ever or wont adtess the wallet issue until they are confident in user base and shite man how long did it take for man to get to the moon? A long time.
So my opinion....if your confident sia will go somewhere....whic i think it will then hlod your tokens. But if you think your gonna get rich ith the tokens I dont think you are.
I bought a miner. Sucks to be me but hey we all make bad choices. So i am now a holder.
Sia tech will delete this post no doubt. But hey who wants bad presss.
All the crypto 'soothsayers' out there need to stop treating this as bitcoin. Bitcoin does not offer any realworld application such as this. So it can just be run like a crypto coin in that regard. But this coin and what it represents is very different.
End is that stop complaining about the price. Sia will only do something about it if no one uses their system. Because they will have to make the coin just like storj which is workin well. Ie fix the bugs to allow proper trade.
Pleaee reply to my poorly typed post as I rushed this on my mobile phone.