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RE: Look What I Got!

in #cryptocurrency7 years ago

I feel bad for all the people that bought the ShitCoin ( I mean SiaCoin) miners from bitmain. The coin has been around for quite a long time and really has never broken above the 1k sat price before (ATH was 844 I think).

I really hope you can offload the miner an recoup some of your costs. SiaCoin will never moon and is of the same tier as DogeCoin. I wish you luck. If you are interested in projects like this, I would recommend StorJ over SC anytime.

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I think the distributed cloud storage projects do have value. Even if I keep the miner I can always just trade the coins for other coins that have more upside.

I am leaning towards just selling but having a miner for a few months making $20+/day is pretty tempting right now.

The real question is how does the release of the A3s affect the difficulty of mining the coin.

Consider this chart and the green area that is almost going exponential.

Screen Shot 2018-01-27 at 4.35.46 AM

Over the last 7 days the network hash rate went from 470TH to almost 6400 TH.... If this trend continues I suspect you are looking at a decrease of 1/2 the mining value almost per week at the current trend line.

I really hope it plateus somewhere, but I have no idea how many miners bitmain made... so its very hard to tell.

Source: https://siamining.com/stats