Siacoin has potential

Siacoin opinions


6 opinions have been recorded for Siacoin so far. These opinions are not an investment recommendation but the community's perspective on Siacoin. Please do not make a purchase decision based on these Siacoin opinions.

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Positive opinion by Marko Braun on March 28th, 2021 ★★★★★ 5 out of 5

Anyone who has understood something about the topic will definitely invest!

This is guaranteed to have a future!


This is still the best coin for secure cloud storage for everyone to this day.
There is nothing that speaks against siacoin.
Siacoin has my full support in any case. I am an administrator myself and know the area well.

Positive opinion from Luis on November 26th, 2020 ★★★★★ 4 out of 5

Siacoin (SC) aims to provide an affordable, open source cloud storage solution that enables the encryption and distribution of files selected by users for storage over a decentralized network of peers. User-controlled private keys make the claim that no third party should have access to or control over the data stored on the network. As a result, the cloud storage marketplace being made available to Sia blockchain users is said to be highly redundant, completely private and more affordable than many alternatives.

There is no limit to the total supply of Siacoins. The reward for the first block mined was 300,000 Siacoins, which will decrease over time until it reaches 30,000 SC per block.
Sia is a decentralized cloud storage platform that uses a blockchain to facilitate payments.

Existing cloud storage providers are centralized. The costs are high, the data is often unencrypted, and each provider usually only operates several large data centers. Sia, on the other hand, allows private, decentralized, distributed cloud storage at a much lower price.

Neutral opinion by Hans Swissich on 08/28/2020 ★★★★★ 3 of 5

Would I use this coin yes / no:
I would certainly use the Siacoin. Because it fulfills the function of the modern cloud on blockchain technology.

What do I particularly like about the coin:
I especially like the technology behind it and that it solves a real problem and that of cloud storage.
Dropbox and a few others already exist, but Sia does the same thing with the main difference, Sia does it decentrally. This means that nobody has control over your data, except you yourself.

Why don't I like the coin:
I like the coin a lot.

What is my prognosis for the coin:
I think that Sia will really compete with the big players Dropbox and Co. in the future.

Which exchange and which wallet do I recommend:
The coin is listed on many exchanges, including well-known ones such as Binance, Hitbtc or Kraken. As a wallet, I recommend the original Sia wallet which you can download from the official Sia homepage.

Negative opinion from Kryptoholik on 08/19/2020 ★★★★★ 2 of 5

Siacoins have been on the market since June 7, 2015.
The Siacoin Coin belongs to the cloud storage provider Sia and is its crypto currency.
The background is a secure storage platform that runs on the blockchain.
This means that the currency is used to enable decentralized payments for contracts and to pay for the rented storage space with the Siacoin Coin.
What is special about the currency is that initially there was only Sia cloud storage, which differs greatly from other cloud storage in that the Sia cloud is decentralized and works with a redundant architecture.
The data is therefore not only on one server, but on many computers, where it is distributed in pieces.
This makes the storage particularly secure, as no hacker can do anything with the data of one or even several servers.
The redundancy, i.e. the multiple availability of the same data on different servers, means that you are well protected against failures.

In the hype I bought my Sia's in 2017 at Binance and since then I have been waiting for a positive price development.
This is one of my coins where I made a lot of losses and the coin was just hyped it seems.
The idea was a good one, but it didn't seem to get through.

Neutral opinion by Sara on 08/18/2020 ★★★★★ 3 of 5

Unfortunately, I haven't had such good experiences with the Siacoin. Not that the coin or the token? is bad in itself, I cannot judge that because I haven't dealt enough with the project itself and I don't know anything about the developers or the CEO, etc.
My experience is based purely on trading this coin. Unfortunately, I got into this coin at a very bad time and unfortunately I lost a lot of capital on it.
Then the so-called "Revenge Trading" began.
You incur losses and want to make up for them immediately by getting out and betting in the opposite direction.
It's just stupid that the majority of the market thinks that way and if everyone thinks the coin is going in one direction, then it goes even more in the other direction.
The "smart money" has more and more capital available and will always come out as the winner in such things, since you can countertrade until you get old.

Negative opinion from Martin on 08/13/2020 ★★★★★ 2 from 5

Siacoin one of my first investments. I didn't buy the coin itself, it was a nice extra income that I got from ETH mining. I saw huge potential for SIA at the time, so I decided on it instead of Decred.

Sia herself wanted to revolutionize cloud mining. What would have been possible without further ado, Microsoft, Amazon, etc. were not represented so strongly at the time. But nothing happened.

The price of Sia has been bobbing about 3 years ago, still in the same place. With the exception of a wallet update, nothing else has changed. The company either lacks innovation or simply the necessary know-how to actually make a difference.

The wallet layout is out of date, the update (downloading the blockchain) takes years, Siacoin stocks are not currently displayed. It's a disaster.

For me personally, the coin is dead. I still hold them to update the wallet out of laziness, but otherwise they would have been sold long ago ...