If you've been waiting for a surge in the price of SIA, you may be out of luck. Many SIA owners are not aware that the developers plan to purposefully keep the price down.
“I think this is going to end in tears,” said David Vorick, chief executive of Nebulous, the company that runs Sia.
“The [Sia] tokens are for using the service, not for speculating, and it’s our job to keep them stable, not to bump them,” Vorick said. “That does create a lot of friction in the community. The people who are upset about losing money are outweighing the people who are excited about the technology we built.”
Check out the full interview
http://www.bostonglobe.com/business/2017/08/07/sia/sUZ0p3EEAsgVuL2aGCeqEJ/story.html
My friend Jared had some great insight on their choice to artificially stabilize the price.
Any organization trying to control the price of their token for "stability" sake are ignorant of economics. Volatility early on in the life of the token is the blood of growth. Investors and traders are attracted to the possibility of gains. If you take that out of the equation, you're taking the free market out of the equation and potentially dooming the possibility of value increase (and subsequently dooming the potential for the coin to gain traction in the market).
Moral of the story: Due diligence is vital prior to making an investment.
Store of value? BTC.
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only that if a surge in use of sia and/or money coming in to crypto will boost the price no matter how hard they try to control the price. It had dip like most had in the start of the weekend + sia have had a longer downtrend before the dip to. That is not stable to me. The only thing they said that they wont pump the price and hype the shit out of it. Pleas stop bending words. Why the fuck should they manuplate the price? They have alot of siacoins that make no sense to dump, slow off selling of a fractions of it make moresense. They are a long term project. They do not have any plans of holding the price low, it is just alot of people spreading FUD and think they don't get paid enough when hosting. So demand goes down the drain. Alot don't have a clu what they are doing. The market is super young so no money lost jet, if you have the balls to buy or hold.
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This is extremely good news for the long term. A blockchain were some actual adoption is feasible with these prices.
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I'm holding a small amount of SC. Need to investigate properly but thanks for bringing this up.
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