What is Siacoin? Sia is a decentralized storage platform secured by blockchain technology. The Sia Storage Platform leveragesShow more [+] underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers.
Sia uses a new cryptocurrency, called the siacoin.
The most important features of Sia can only be accessed by using siacoins. All storage contracts and all Sia payment channels require owning siacoins. This requirement means that as Sia grows in usage, so too will demand for siacoins.
As demand grows, the price will increase. If Sia is being used for billions of dollars of storage, billions of dollars of siacoins will be required. The value of the siacoin is inextricably tied to the amount of storage in use on the Sia
First, I'd like to say that I really appreciate the work u/FaustianAGI has done on his proposal. Not only is it well outlined, he has made an amazing effort in reaching out and communicating to the community the purpose and intent of his proposal. If you don't know what I'm talking about, I believe THIS is his latest linked proposal. So far, David and the rest of the team has been supportive in the discussion without tipping their hands whatsoever.
There are however some other issues which I don't feel are adequately addressed in the above proposal. I also believe we underestimate the contentiousness to which this will be met with. So I offer this counter-proposal to be discussed, torn down, improved upon, or whatever its fate may be. Understand, I believe Faust to be a good-thinking and logical community member and I will back the community that follows the devs.
The current proposal (hereto referred to as Prop1) relies on the built-in knife/alt algo in the SC1. With this, a fork can be made of the Sia chain onto the alternate algo, invalidating other current hardware for the exclusive mining period of roughly 6 weeks. This would allow for SC1's who upgrade to mine the forked chain. It is not yet clear what would happen to those who do not know how to update firmware, which, to be frank, as someone who's spent time on the Obelisk Discord, i get the impression this would be more than a couple people. After the 6 weeks, we'd move back to the original Blake2(b). An issue raised again and again is that the hardware which is invalidated is not Bitmain hardware (which u/hakkane has demonstrated was used to mine in secret), but rather newer hardware which Obelisk had some prior knowledge of. While a lot of people have conflated a Blake2(b) miner with a Siacoin-making-machine, there is no guarantee or law that any chain will or must follow any algo. However, I do not see a reason that the Halongs, Innos and Ibelink's should be invalidated based on the needs of a few thousand people who all agreed NOT to risk more than they were prepared to lose. As a B1 and B2 buyer, that's a bitter pill to swallow myself but I must remind myself of that. Another issue is that this does not include DCR1 buyers at all. And as the Decred community is practically fork-proof and very apolitical about mining in general, they are not going to make any special effort to make DCR1's any more profitable than they already are.
In honesty, I believe that Prop1 will wind up more bark than bite.
if we the devs agree to support both [chains], you only need each to have a critical mass to survive there's no majority wins at play, really it's everybody wins and... while we're at it i might suggest 2 additional changes
10% block reward to devs
reset block reward to 300,000
other than those changes, we'd keep the two chains identical.
I do not wish to take him out of context so I'm willing to say that there may be some other way to take this than how i read it.
My alternate chain-split proposal (Prop2):
I believe that if a large portion of the Sia community has no interest in this debate, or even believes that the Obelisk base is in the wrong, they should not have to be dragged into this. I hope that what I've outlined below could resolve all these issues fairly and democratically, allowing each participant (obelisk owners, other mining owners, and sia hodlers) to make their own decisions accordingly.
Shortly after Obelisk's B1 shipment, the alternative algorithm is offered in a voluntary firmware update, with all conditions made clear, SC1's who do not update would be allowed to compete alongside the Halongs, Inno's and Ibelinks as though nothing happened. Their wallets would be unchanged as well. SIA would remain SIA, untouched by this whole ordeal. It would remain on the exchanges just as it is now. Those that did update, would be then mining a second chain (called Sia2 for brevety/clarity, name TBD), one that met David's above suggestions, along w/ maybe whatever else Neb team and the Community seemed made sense. David has made it clear that too much divergence in the codebase of the two and it becomes more development effort than maybe can be maintained, so I suggest keeping as much unchanged as possible for now. The knife would be used for 6 weeks to restore the SC1 6 week exclusive period. Afterwards, this new chain would move to Blake14r, the DCR1's algorithm, where it'd stay. This would be an analog to DCR1 having its exclusivity period restored. That's it, done.
Prop1 and Prop2 would both result in a chain split. The chain left behind in Prop1 would require a larger effort by Halong, Inno, and the rest to maintain, so they'd likely mine SpaceCash exclusively for that period before dropping it again.
Prop1 and Prop2 would both send a message to the broader community that Obelisk was willing to work with their customer bases to find resolutions that don't require reaching outside of the crypto world to resolve.
Prop1 addresses SC1's, not DCR1's
Prop2 addresses both
Prop1 would likely be met with a great deal of contention by many.
Prop2 would likely be met with a great deal less (other than maybe a few kinda upsed Decred devs)
Prop1 would change the block reward fee/inflation of SIA in ways not all community members agree with
Prop2 would only make these changes to the second chain
Prop1 would return some chance of profitability to Obelisk customers
Prop2 would result in 'starting fresh' for knifer's, allowing them to mine a significantly more amount of coins (which admittedly would need to find an exchange)
Prop1 may be met with other unforeseen attacks that could be very difficult to combat.
Prop2 would result in 2 chains, which would leave one chain completely unaffected even if an attack was successful.
Siacoins disappeared in Sia-UI/correct address not showing up. Help!
Hey guys, a while ago I lost all of my siacoins. If anyone could help me I would greatly appreciate it.
a little backstory:
last transaction was made in December of 2017
Had some problems signing into Sia, was not able to sign in and access it until July of 2018(was able to sign in by typing wallet init-seed --force and entering my seed)
However, when I signed into the Sia-UI, it did not show any of my transactions and showed my siacoin balance as "0" even though I had many SC in my account. Yes, Sia-UI was correctly synced, and yes all my transactions correctly came through(checked through sia explorer). The Sia-UI for whatever reason does not show it, and as a result I can't do anything with the siacoins I am supposed to have.
After all of this, I went into the terminal and typed in "wallet addresses"(to see all of the wallet addresses affiliated with my seed). This is where it got really confusing and troublesome for me. Only one address came up, and it did not match with any of my old addresses that I used to receive siacoins. How could this be? How did Sia just delete addresses off of my seed? I scourged the internet but apparently not a single person had a problem where they just completely lost an address from their seed. I am in desperate need of help since I have invested a lot in Siacoin and it would be great if someone could help me get my coins back. Thank you.