Siacoin is the crypto-currency of the Sia platform. It is the coin that is intended to be used for renting and hosting cloud storage on the Sia Cloud Network.
Not very much. It's very much a buyer's market at the moment. Check out the “Host Earnings” estimator at SiaPulse to get an estimate of your earnings from hosting.
This is normal. Every time you click “Receive Siacoins,” Sia generates a new wallet address, but you will still receive payments sent to any of your previously generated addresses.
If you want to see a full list of your wallet addresses, go to the “Terminal” view and type
This is expected behavior. Sia allows advanced users to choose a password that is distinct from their seed for added security, but by default, the seed and the password are identical.
No. But this is a planned feature in the Sia roadmap.
Kind of. Any cryptocurrency exchange that supports Siacoin will give you Siacoin addresses and allow you to send and receive Siacoin. This is not a *true* web wallet in the sense that the exchange controls the private key and thus ultimately controls your Siacoin.
sia-coldstorage is a tool for creating offline receiving addresses. It's not an “official” Sia tool, but it's written by one of the Sia developers. It can generate a seed and receiving addresses, but you can't sign transactions offline. To *send* from these addresses, you'll need to enter the seed on a Sia wallet that is online and has downloaded the full Sia blockchain. For pre-built Windows, Mac, and Linux packages, see the releases tab of the sia-coldstorage Github repo.
Hosts (and websites) are considered safe from user submitted content under section 512 of the Digital Millennium Copyright Act. Storage providers, websites and ISPs (Internet Service Providers) are considered protected under 230(c)(1) of the Communications Decency Act. No cases in the US have specifically accused websites of CP and 230©(1) and it is considered a safe harbor, but has never been tried. If you require more specific information, we recommend you discussing this with your legal representation.
Yes. Once you have created a wallet and generated an address, you can start to send coins to that address. Your coins will start to appear in your wallet as it builds the blockchain.
Hosts are incentivized to maintain uptime in the scoring process. Hosts are scored by several factors - availability being a large one of them. If a host system goes off for hours a day, or days at a time, they are “punished” by receiving a lower score. The scoring process determines how likely a host is to receive new contracts.
Initial blockchain download may take up to 1 day but this will depend on your hardware and internet connection speeds. Blockchain synchronization is a lot faster on an SSD vs HDD.
You may download the consensus.db file from someone who has already synched it, (e.g. https://consensus.siahub.info/ ). The recommended method is, however, to always sync yourself.
Possibly! Depending on your electricity costs, your GPU, and the market price of Siacoin, mining can be quite profitable. Check out the “Mining Earnings” calculator on SiaPulse to get an estimate of your earnings from mining.
SiaCoin is available on Cryptocurrency exchanges such as Bittrex and Poloniex. Users report the fewest issues with Bittrex. Poloniex boasts the highest volume, but has more frequent issues. The easiest to use may be shapeshift.io.
See these guides for more details:
There are two main ways to purchase Siafunds: