I must admit that lately i hear more and more rumors about Siacoin. If you search for Siacoin in youtube you will find plenty of youtubers forcing you to invest in SiaCoin, because it is "undervaluated, huge potential in future etc" crypto-currency. Is that true? I will try to answer this question in a minute!
So lets start. First of all I don't think SiaCoin is undervalued, because if you look at:
Source: https://coinmarketcap.com/currencies/siacoin/ market cap, you will see that it is more than 260 million dollars. Also you can see that price went down from 0.00000750 BTC to 0.00000275 BTC ..so new rise might come in a future... but when.. I think market must calm down and consolidate for a bit and this might not be the lowest price we see.. so be patient guys!
Secondly i added post snapshot from august 8th by SiaTech official twitter channel!
Probably most of you guys don't know that SiaTech is a team of about 20 programmers who have developed Sia platform and Siacoin by writing code in a Cambridge apartment! Photo below :D
Source and full article: http://www.bostonglobe.com/business/2017/08/07/sia/sUZ0p3EEAsgVuL2aGCeqEJ/story.html?event=event25
As team mentions "The wild interest in their product can feel more like a nine-figure distraction." So they are doing everything to not worry about huge popularity and just do their regular job by making Sia platform more successful in future. (Where in my opinion we migh see it's real value).
The other thing that might be not so good for Siatech future is the NEO (yes the same crypto currency that was called Antshares and hyped from 5$ to more than 20$ in just a few days!) As i heard they will develop NeoFS - that similar as Siacoin supports distributed data storage. I migh do a future post about this and other NEO future plans if i will see some interest from you guys!
So conclusion: Should you invest in Siacoin now? I don't know because it is hard to predict anything in cryptomarketplace because of huge volatility. But my advise would be to follow this project, also it's competitors (like NeoFs) and see where it goes in following weeks. Also.. before buying anything please do your own research and not listen every youtuber or blogger like me ;D If you have any questions feel free to ask in comments section! Good luck!!! ;)
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But one thing is for sure, Siacoin is very innovative.
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I agree.. as you might know.. Facebook also was created in dorms, so that does not say anything if guys work in an apartment. Team is strong and we will see amazing things in future!
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One thing that worries me about Siacoin is that increasingly more cryptocurrencies are offering the same ability. Whilst SC specializes in cloud storage these other cryptocurrencies are often platforms that can do much more, as well as cloud storage. Perhaps Siacoin can outperform the others by specializing though.
At the current price I do think Siacoin is an interesting investment to put a small amount of your portfolio in.
One has to keep in mind the maximum potential too. Although Siacoin will surely grow, I don't think it will ever be as big as an Ethereum. This limits the maximum amount of profit you can expect. Siacoin is for 1-10x gains, not for 100x gains, I believe.
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Thanx for your opinion! Mostly i agree with what you said! ;)
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