what I want to know is how does this compare with #siacoin - i noticed they also allow us to upload files to their 'cloud'
I don't think that has any function yet. I think that may relate to the computing functions of elastic in the future when the actually computing part of it finishes testing. It isn't really anything like Sia (if I remember correct they are creating cloud storage) as Elastic is creating a decentralised computing platform for research and the like.
that is very interesting; do you think XEL is a good buy for the long term hold? (I may grab some more soon)
I think so.