Siacoin - a highly efficient decentralized storage platform

Siacoin - a highly efficient decentralized cloud storage platform.

You can mine Siacoins, renting out storage space to earn Siacoins, and use Sia platform to cheaply store and backup your stuff. Sia is the first of its kind in production.

https://bitcointalk.org/index.php?topic=1060294.0

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Comparing to Maidsafe, Siacoin is a less ambitious project for now. Their devs only want to focus on one thing at this time which is the decentralized storage.

http://blog.siacoin.com/2015/07/08/the-dream-of-sia/

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You can get an auto invite and sign up on Sia slack here - https://siatalk-slackin.herokuapp.com
There are more activities on the slack.

Storj already exist.

Siacoin is different from Storj in many aspects. Siacoin has its own blockchain and you can mine Siacoins on top of leasing storage. Siacoin has launched and is in production. You can rent out your space and rent space to upload your stuff right now.

Also competition is always a good thing for this industry.

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Storj has not launched yet. Sia has launched. I’m not sure what sort of storage capabilities Storj’s test group A has, but Sia is currently capped at 500mb, and has many files on the network over 100mb.

Our next update will be pushing the limit to 5GB (enough for a dvd) and greatly increasing upload stability.

So far, out of ~1200 files that have been online for ~8 weeks, not a single file has been lost. This is even without the stability and renewing code which we will be introducing in a few weeks.

I do believe you should try out Sia - it might surprise you. We’ve been in development for longer than Storj.

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how do i get SiaCoins? I have the program installed, connected after router PF, and seeing peers. I tried to upload a file but it wants SiaCoin.

You can buy Siacoins on the Siacoin trading thread - https://bitcointalk.org/index.php?topic=1083781.480

At this moment, it is about 0.15 btc per million siacoins.

million siacoins = ??? Megabytes stored?

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currently 1GB/0.01222 KS

Is one KS equal to 1000 siacoin?

EDIT: And how long does that 1GB get stored for?

The value of the siacoin is set by supply and demand, and it doesn’t directly correspond to an exact amount of storage.

1 KS = 1000 siacoins.

Right now you can buy 1GB for 6 weeks for ~12-15 siacoins.

I got the client mining on a win8 device and ubuntu. Traded for some KS on Slack and now have a file saved on it. I will test the share option here pretty quick. I am liking it so far…thanks for sharing!

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Client install on Ubuntu was straightforward and painless. Not a lot to config either - I’d have liked to been given the option to specify where I wanted to store data - I always like to keep programs and data separate wherever possible - but Im sure that will come.
Dunno if I’m ready to invest 0.15BTC for 1m Siacoin right now though.

.My shiny new client on Ubuntu says > Estimated Price Per GB: 49.63121 KS

However the defaults on the Hosting page suggest 12kS/Gb/month.
I am attached to a massive 3 peers after approx 1 hour - perhaps the 49.63121 KS is an average of what they have set their hosting rates at.

49 ks is about 2 cents per GB isn’t it?..but only stores for a limited time - is that right?

I make it $2.25

say 1BTC = $300 – very round figures
1m SIA = $300 x 0.15 = $45
50k SIA = $45 x 0.05 = $2.25

Feel free to correct me if I got that wrong but it looks pretty expensive from here. Happy to try it out with 20-30Mb but the economics need to change if its going to fly.
Or did I make a stupid gross error?

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That sounds expensive compared to Google, Dropbox etc.

SAFE should be cheaper than commercial services because the price will be dragged low by people who provide spare space with zero incremental cost. Any commercial farmers will have to be able to survive on very low margins, and will only be viable if there isn’t enough storage from people just sharing spare disk space - which there might well be.

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I suspect the price will drop sharply on Sia once it gets a reasonable no of users.
I fully agree with you on the bleak outlook for commercial farmers, I have 2Tb of free disk space here and a little local deduplication could easily turn that into ~3Tb.
Quite happy to make at least 1.5Tb available for SAFE. The platters are spinning anyway.

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This is quite fascinating. Just today the Estimated Competitive Price went from 1 SC / GB / Month to Estimated Competitive Price: 1334361 SC / GB / Month. This number is seen in the “Hosting” section of the client.

Under the “Files” section"Known Hosts: 3 Estimated Price Per GB: 4942.07857 KS"
So current cost: 0.69188btc/1GB/month or $201/GB/month…haha I hope this is just a temp. glitch.

update: different computer (running from an exe file on skydrive cloud :sweat_smile:) says" Known Hosts: 7 Estimated Price Per GB: 0.92914 KS"

Also, I wanted to be the first so @Southside obliged and we did the first KS(SC) to MAID exchange :grin:

1,000 KS/0.14btc = 0.00014btc/1KS
0.00012192btc/1MAID

1,000KS=1,000,000 Siacoin

prob should check my math

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