Looking at the price of Siacoin (SC) several investors are feeling like it is Bullish sentiment and they are also aware that they probably might be wrong.
They feel that Siacoin could mean $1 by this time next year. The news about Siacoin is getting massively important. Siacoin is looked at as having the potential to end up on Coinbase. And, if that happens this can influence the price massively.
The price action of Siacoin has been trending kind of around 4 cents a bit above or below. Since most of the market is up, this was not surprising. Over the past week end, there was a big dip and they seem to be back on track now.
Though Siacoin is not in the top 20 or top 50, it is still a very important project. Over the past couple of months it has been nearly up by 63%
For those who do not know Sia, they claim to be the decentralized storage for the post-cloud world. It is a lot similar to Filecoin. It is mainly based on storage solutions from which it draws its value.
This is a 75 billion dollar industry – cloud based storage like Google drive, One Drive from Microsoft, Drop Box and all of these stuff. However, there are very few companies who give the cloud storage space. The pricing for it is lot more expensive. Siacoin are trying to decentralize cloud storage.
They leverage blockchain as being able to create the data storage market place. There are lot more affordable options. There are so many people who have that storage space available. So, anybody who has the storage space available and has been able to join in on this they have the opportunity to sell that space to other people that need that storage.
SiaCoin is a pretty cool project right here. By visiting the website, users will be able to get to see all the different kinds of things they offer. It is a completely open source contribution from the leading engineers. It is made possible by the thriving community of innovators on the Sia API. The market place on Blockchain where storage providers compete for business and renters are trying to get the lowest price possible for storage. Also, renters pay using SiaCoin, which can also be mined and traded. Therefore, users can see everything they get going on to be a really interesting project.
Siacoin is already under review with Coinbase and the expectation is that it might probably get listed. Coinbase do not allow anybody and everybody to be on their platform. We need to see how things unfold.
