Upload large size of files
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I'm fresh to Sia, so the question may be stupid.
The current total storage capability is around 16TB online. If I wish to store a batch of files that total size is more than 1TB, does that mean the price of sia will grow up violently? If the answer is YES, how violent is it? (This question is definitely important for me, since my lab is seeking to store data here. The new file size each day is around 200GB)
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The current average price of storage as estimated by the GUI is around 200 SC/GB/month. The maximum price that is currenly allowed by the network is 500 SC/GB/month (all hosts offering storage above that price are ignored).
Worst case scenario - price increase of 2.5x (the big assumption here is that the price of siacoin remains more or less a the same:))
Also, it would be natural to assume that more uploaders = more storage hosts (because there is money to be made)
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The current average price of storage as estimated by the GUI is around 200 SC/GB/month. The maximum price that is currenly allowed by the network is 500 SC/GB/month (all hosts offering storage above that price are ignored).
Should be noted that that price includes redundancy. So, the cost of uploading a file at 6x redundancy is estiamted to be 200 SC/GB/Mo. Which means the average price for each individual host is about 35 SC/GB/Mo. And, most of that cost is happening on the upper end of the redundancy. If you drop down to 4x redundancy, you ignore the 8 most expensive hosts, not 8 average hosts. So the price would likely drop by much more than 80 SC/GB/Mo.
Just wanted to point that out.
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@kingslove said:
If I wish to store a batch of files that total size is more than 1TB, does that mean the price of sia will grow up violently?
First, its really awesome to see someone using Sia for storing lab data on Sia! Big Data is where Sia will really shine!
In the short term, consuming 1/16th of the network storage may increase price. This is because hosts are selected based on price (or rather, are weighted based on price; there is some randomness to it). As cheaper hosts are used up, more expensive hosts will be selected with increasing probability.
Still, it is unlikely the network will ever fill up. True, it is small today, but an increase in demand will be met by an increase in supply of storage space. There are storage providers ready to jump in with petabytes of storage once it becomes profitable for them to do so. So, in the long term, price will remain stable (or, even go down).
By the way, if your lab has difficulties procuring Siacoins on the open market you can purchase them with credit card or even bank transfers on my company's website at http://nethut.no.
I'm not trying to make a profit (nor a loss, mind you), and this might be easier than explaining your account manager how to place bids on Poloniex...
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Ah, I realize I missed the original question of the post. Given the number of hosts who are offering 250GB or more of storage, I would guess that the price would increase fairly noticeably if you were to upload 1TB of data today. I'm also guessing that if you moved over 100GB at a time, the price would not increase significantly because people would add more storage to take advantage of the financial opportunity.
I'm more or less making up a number, but off the top of my head it seems reasonable to grow the demand portion of the network by 5-10% per week without dramatically affecting the price. And, even if you do grow the network faster than that, the price should only bump temporarily.
I will advise that the current renting software seems to be buggy enough that I would discourage uploading 1TB of data until we've got the next iteration out. I'm guessing most of your coins would be drained into file contracts that were never utilized. You would get the coins back, but only after 12 weeks. It pains me to ask you to wait, but I do think that's the smartest move. I don't think the software is ready yet.
