How much money do I need to send to my wallet to start hosting ?
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Asked by @robinos. How much money do I need to send to my wallet to start hosting ?
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Sia requires that Hosts put up collateral. This ensures that Hosts have both an incentive to stay online (payment) and a disincentive to go offline (collateral).
You can fill the "Collateral per TB per Month (SC)" field the amount you want. But the higher you set it and the more reputable you are, and have chances that renters choose you. Today, farmers are paying around 10$ and 20$ in Sia coins as collateral.So don't forget that hosting is a commitment, don't start to host if you can't handle it and be online 98% of the time.
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The GUI recommends that you have about 20,000 siacoins.This number is recommended to be 100,000 by some old guides. The price has gone up a lot since then. Really, you just want to have about $5-10 USD in your account to put up as collateral when you are a host. If the price continues to rise, we will reduce the value in the GUI from 20,000 to 10,000, but I think it would be premature to do that at this time.
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@Taek It would be good to display the price in USD, and/or be able to set up the price in USD
