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SIA COIN- Ready for a new Liftoff?3 Reasons to Buy Siacoin Siacoin provides tangible real-world utility and an attractive investment thesis based on disruption and innovation in the cloud-storage space. Key Points The Sia network provides decentralized cloud storage in a secure way. This decentralized cloud storage is provided at extremely low prices, making the Sia network competitive with established industry giants. The security of this network is impressive, a key factor that could spur mass adoption. For cryptocurrency investors, the search for meaningful utility is always on. Finding the next cryptocurrency network with the disruptive ability to innovate in hyper-growth sectors of the economy is the goal. However, breaking into certain segments of the tech economy can be difficult. Big Tech seems to control everything these days, and cloud storage is no exception. Companies dominating the cloud storage space include major players such as Google, Amazon, and Microsoft. However, there's one upstart decentralized network seeking to take a slice of this growing pie. The Sia network, powered by Siacoin (CRYPTO:SC), is a unique offering in this oligopolistic space. The Sia network provides cloud-storage services on the blockchain. Since Sia is a decentralized service, there's no single point of failure. Users pay in Siacoin for this storage, and providers are paid in Siacoin for their troubles. Indeed, Siacoin could represent the decentralized future of the cloud. Let's dive into three reasons why Siacoin could be a great long-term investment for those seeking disruptive blockchain technologies today. 1. A cost-effective cloud-storage solution Running large numbers of connected servers isn't cheap. Accordingly, cloud-storage companies are increasingly being forced to increase prices to meet these costs. Inflation is real, and companies in many cases don't have a choice but to pass on costs to the consumer. For example, Microsoft Azure charges $18 per month for 1 terabyte (TB, or 1,000 gigabytes) of storage. The Sia network, on the other hand, charges less than $4.50 for the same service. This is a rather significant price difference and could be meaningful for companies requiring cloud-storage services at scale. If anything, the secular trends underpinning growth in cloud storage are only likely to accelerate over time. Undoubtedly, the pandemic helped accelerate cloud adoption to some degree. However, there are certainly reasons for investors to have a very positive outlook for cloud-storage providers in the years and decades to come. The Sia network's current cost advantage could be viewed positively in this light. As adoption picks up across the network, expectations are that Siacoin's value should appreciate, as well. 2. Peer-to-peer storage solutions The Sia network is the premier peer-to-peer cloud-storage solution in cryptocurrency today. This blockchain-based provider offers a solution that anyone can be a part of. Decentralization is the name of the game in the cryptocurrency world. However, most of the focus in this space right now is on decentralized transactions. For cloud-storage providers, there are other advantages of being decentralized, peer-to-peer solutions. Security is one of the key drivers of the Sia network's allure in this regard. However, the nuts and bolts of how this network operates are intriguing from this perspective. In order for a cloud-storage provider to join the network, a certain amount of Siacoin must be locked into a contract. These contracts are cryptographically enforced in the blockchain, simplifying the process for users and providing collateral to ensure both parties will be satisfied with the arrangement. Both the user (renter) and host put some amount of Siacoin into the contract. If the host fails to perform its duties or loses the client's data, the user is compensated in Siacoin. Additionally, since the renter pays upfront, the host is guaranteed to get their money from the transaction. It's a win-win. 3. Security is paramount As a cloud-storage intermediary, the Sia network's security protocols are of utmost importance to those looking at this service. In this regard, there's a lot to like about how the Sia network has chosen to think about a security-first approach. There are a few security advantages the Sia network has relative to traditional cloud storage providers. Perhaps the most obvious is the fact that the Sia network is decentralized. Since there's no central server to attack, a hacker would be required to carry out multiple attacks on various servers simultaneously in order to significantly disrupt the system. That's an obvious plus for those concerned about potential cloud-server hacks. Additionally, the hosts are anonymous, and the level of encryption and data-transfer security appears to be among the best in class right now. Anonymity is ensured. Since the owners of the files are the only ones with private keys to access the data, no one other than the owner is able to access the files. Finally, the Sia network uses redundancy, splitting files across many computers. This means that even if some of the nodes operating the network are offline for any reason, the renter will be able to access their files at any time. A potential long-term winner One of the drawbacks of many cryptocurrencies is that they power networks with no real utility outside of storing or transferring money. Other cryptocurrencies such as Siacoin support powerful utility-generating functionality in the real world. That can be both a good and bad thing. Obviously, Siacoin's value as the currency used on the Sia network is dependent upon this network continuing to grow. Unfortunately, there aren't as many catalysts for Siacoin as there are for a cryptocurrency like Ethereum, for example, where an enormous network of projects utilizing smart contracts and tokens are built on top of it. This multipurpose functionality is what drove Ethereum to the heights it has reached. Siacoin's growth may not be as explosive. There are other risks with Siacoin, as well. In 2019, the developers behind Siacoin were ordered to pay $250,000 for alleged securities fraud for offering an unregistered security. Although the SEC has chosen to take no further action against the Sia network at this time, the budding cryptocurrency world is certainly not without risk. That said, for those intrigued by the potential disruption the blockchain could bring to the cloud-storage space, Siacoin is a compelling token to consider. Right now, Siacoin is one of the top smaller-cap cryptocurrencies I'm watching for this reason.
Long
by FX_Professor
5
You need to buy when no one is interested in altcoinsWe do not encourage you to buy or sell. Just walk past this asset that will probably grow by 10,000% or not. Or you will lose your money. Nobody wants to buy at the start. But everyone wants to buy at the end. As usual, it happens that people start buying what has already grown. And yes, perhaps this asset will grow by 100%. But the risk is bad. If you want to buy something safely, buy bitcoin now. You will have less profit, but you will definitely not lose 90% of your deposit.
Short
by pennygene
2
SCUSDT forming bullish butterfly | Upto 170% move expectedThe Priceline of World's 72th ranked cryptocurrency out of more than 2300 cryptocurrencies Band Protocol Siacoin (SC) is forming bullish Butterfly pattern and expected to enter in bullish potential reversal zone soon. Lets have a look on the Sia priceline's move: After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.786 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B leg's Fibonacci projection and final (C to D) leg is suppose to be retraced between 127 to 1.618 Fibonacci for a perfect bullish Butterfly and then the price action will be entered in potential reversal zone of this bullish Butterfly pattern, then we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg, but after this bullish divergence if the candles sticks will be closed above 0.786 Fibonacci levels then it can also lead to the long term bullish move. As per Fibonacci sequence method we can set our targets as below for mid term trade: Buy between: $0.00113053 to $0.00077098 Sell between: $0.00140711 to $0.00208915 So this chart has potential to give upto 170% big gains. Regards, Atif Akbar (moon333) The harmonic moves analysis involves hours of hard work and determination however the success of harmonic trading in fiat and cryptocurrencies is around 80% therefore it is always important that you follow any stop loss strategy while trading harmonic patterns I have also shared a stop loss idea in this article, the information in this article is for educational purpose only this is not intended to be investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic bullish Butterfly pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.
SLong
by moon333
1