2 Allowance questions
-
An allowance is a quantity of Siacoin that Sia will set aside for uploading, downloading, and storing files on the network.
An allowance lasts for 3 months and is automatically renewed at the half-way point.Question 1:
If allowance automatically is been renewed do i have then to pay the same amount for the allowance as before?
I mean if price dollar/sc ( at the moment 396 SC/USD ) goes up to 1SC/USD then it can could become a very expensive allowance.
Will this be automatically adjusted?......Question 2:
If i want to quit the allowance how can i do this?....Regards Daniel
-
SIAs monetary foundation is it's own coin, SIA coin, everything is calculated in that currency.
if the price of the dollar goes up and you use dollar to buy SC, then you are right. But remenber that the price is calculated automatically, so if the net work's host are happy with the same price in dollar as before the rise they could lover their prices in SC keeping it stabile in USD. I think it is still too early to see how this correllates given the very small demand for storage and the in all respect little competitiion there is between the small number of hosts at the moment.
If you quit the allowanse, there is a part of the fund you will loose, but since you then have used no storage, you have no spending on that bit, so you will get most of it back once the contracts expire.
