Why Siacoin price will rise.
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The thread bellow "Why SIA Exchange Value Will Not Rise: Analysis" is pure FUD, and the that topic has nothing to do with the analysis. The topic has been discussed and arguments of the author have been found invaluable (read the thread).
I just want to point why Siacoin price will rise in the time frame of 1-2 weeks:
The main reason is the release 1.3.0. which is not available yet, though can get current code from github right now. Based on github code I'd say we have to wait for release for at least 1 week. Reasonable time frame 2 weeks. Almost any feature in that release already have been pulled. Not every of those features from roadmap are yet accepted into release though.
Another reason is that USD price of Siacoin have nothing to do with the storage price, - hosters are competing for contracts right now. And amount of Sia you pay per TB is decreased significantly since 21st of May. I have no doubt we will pay only fraction of Siacoin per TB in the future.
I want to point once again the significance of those features planed for upcoming release:
- Ability to repair files without having files locally - This is a direct way to re-balance renter's contracts for cheapest contract price.
- Simple file sharing - Share files with other sia users. - This is huge. This is a direct way to build cluster applications upon sia storage network with different wallets and the same content. It is not only to share the files between users, it will decrease the risk of loosing your money by distributing them to different wallets on a different virtual machines. This will increase the performance of storage access for your application if you use separate wallets (siad - sia daemon) on separate virtual machines, for the enduser.
- Support for partial downloads. Again, it is huge. This is video/audio streaming use-case. Alone this feature will decrease the network I/O demand for hosts and make it possible to support more renters on one host with the same internet connection. This will make monthly costs of network traffic for sia users (renters) drop significantly. Next expected feature would be replacing part of the file, that will provide possibility to make posix layer over your sia backed storage with R/W capabilities.
- Renter to begin pruning/replacing low quality hosts. Needless to say that together with feature (1) this will greatly improve quality of the network and increase storage demand.
- Ability to recover files from outdated backup of the renter directory. This is simply priceless.
Actually Siacoin is one of the few useful and used in production coins. The adoption of Sia may start getting exponential without end-user knowledge, as more and more services will adopt sia storage network for their applications.
The demand for storage is very high world wide, and Sia storage network offers right now about 3PB of storage, where only 1% utilized right now. Considering cheapest storage price and features of upcoming release adoption of siacoin will only grow.
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@pazak While I want the price to rise significantly, as I currently have 11 BTC worth of Sia... how is the supply (currently 25 Billion) going to be taken off the market to fuel the rise? Take #2-- file sharing-- for example, do people actually need to buy/hold/use SC for this feature to work? I don't totally understand where the coin supply will be used... and I feel like 25B going to 50B is too much supply. $1 SC would mean $25B market cap which unfortunately seems completely unrealistic anytime soon. Of course it would also make me a multi-millionaire so that for sure won't happen ;)
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@Dafar I concur... this is exactly why the price wont go up. I wrote the article you tagged... @pazak is speaking about BETA versions that have not hit the scene - so this is PURE SPECULATION on his part. Not to mention Sia certainly cannot stop with v1.3- (in argument) there may be subsequent releases that do not promote any additional value or additional bugs discovered in new code.
Nothing I wrote is FUD. Its what reality looks like for Sia right now. Things could change, but right now and prob for this year (without massive improvements) it wont rise.
Its actually a good thing that Sia doesnt become too high because the volatility will not enable hosts to set a good profitable price for services which they do expect to make money on. A 25B market cap as @Dafar wrote.. is not realistic and places un-necessary stress on the coin when its not needed. Not to mention there is no cap on Sia.
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Please see this topic about supply
Consider that there will be 53 billions of Siacoins by 2026 in 9 years. The inflation rate is decreasing every year and it is not really high (less then USD inflation rate).
Right now in the mid season everything is going down, however this will totally change in August. I suppose that total market capitalization will grow at least 2 times until end of the year (some say it will be 5x growth). It is still an early adoption phase. The mass adoption and the highest prices are not to be expected earlier then in 5 years time frame.
With new release features those will make it possible to use sia network as a backend for video streaming the demand for storage will grow exponentially.
In the same time useless XRP which is absolutely have nothing to do with cryptocurrency and have no value for the holder, - has 100 billions of tokens and those tokens went to 9-10k sat (there was a hype which broad it to 20k sat occasionally).
ETH which has systematic failure and can be ddosed by tokens running upon it with turing complete contract language which makes it impossible to predict and control the impact on the network - has a price of 0.12BTC now.
Ppl buying everything then selling when price goes down. It is a bubble and speculators market. Some ppl get wrecked. Some regret selling. Because they rebuy at higher price later.
@moorsc0de 1. Im talking about upcoming release 1.3.0 (not yet released). 2. im long enough around in IT and I've experienced the dot.com bubble as well. I can't predict prices, but I can see what the technology is capable of and where the market goes to. 3. Sia is one of few crypto currency projects that is really worth to pay attention to. Even if price goes down now, it will definitely rise with upcoming release and it will grow in price with further adoption.
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@pazak your speculating on a release that hasnt been launched past BETA- to give way to aa rise in the coin price? hmmm
Sia is so fuggin complicated for most new users to adopt that this alone is a barrier to coin use... and price hikes. Sia is not a speculation coin.. its a token to use in the Sia Network. Thats nothing special.
Sure idea may be good, but the people are not going to speculate on this. There is nothing to speculate about. You think coins just rise- just because new technology is out? Nothing Sia has done is new.
But all new coins have some sort of new technology- Sia doesnt have 1 single new idea (speaking of the coin itself). The implementation of Sia would have been BEST had they simply done this as ETH or BTC coins- not its own coin. Then the mining and everything else would actually work for speculators, hosts, and renters.
Sia has nothing to separate it from the pack- Nothing. At least nothing worth making the price rise on its coin.
If it was going to rise.. early adoption and proof would be key.. they dont have that. But feel free to throw $$ at Sia. Its always going to be this cheap token that serves 1 purpose only. Ranks in with Reddcoin.
