Buy SiaCoin? Is SiaTech The Future Of Cloud Storage?

[Music] what’s up everybody this is Steve from altcoin buzz and today I want to talk about something that popped on in my radar about a week ago you know it’s doing some research into some of these sub cent coins because that type of position interests me when you can get into something that has really low coin price and allows you to accumulate tens or hundreds of thousands in your position in a short period of time with very little upfront investment now most of those coins that are in that subset Ranger you know they’re garbage that’s why they’re worth that little there’s either too high of a circulating supply and not enough promise of what their project is going to become or there’s just no faith in anything that that that team is going to deliver but so when I got into SIA and that’s what we’re talking about today SIA coin SC it was like half a cent so this wasn’t that long ago and I’m gonna show you here on the charts it it was ranked like 50/50 one in position here on coin market caps so there was a good strong amount of money you know hundreds of millions of dollars being held but there was tens of billions of dollars of coins if I recall correctly so I woke up this morning scroll down to that fifty fifty one position where it’s been hanging out and it wasn’t there so you know slight panic because that’s good or bad right and we’re looking at a sea of green if you look here huge huge huge gains on most of this stuff you know my necks of four hundred five percent unreal but luckily we’re now looking at SIA coin sitting at 40 okay so it’s it’s slipping a little bit when I woke up this morning it was at almost a full cent per coin but it’s expected that it would go down because I’m expecting people like myself to be smart selling their positions and then recouping and gaining those positions after the pullback you know you can sell when it’s high I call it smart selling and then wait for it to kind of bottom out or get lower and then per repurchase your position at a lower coin value that’s different than panic selling panic selling would be assuming that the coin just gonna forever go up and up and up in value there’s never going to be a downturn and then dumping your position and moving on while it’s on the downturn so that that’s what I don’t consider smart so an ass panic selling so this coin is gonna fluctuate up and down you know I don’t think people have seen it go up that high in value here in a short period of time certainly anything overnight you know that’s volatility that’s basically the definition of volatility you got a high Z index here of a one-day activity so let’s take a look at its price history and you know yesterday it was sitting around here today we wake up and it’s here so it’s it’s kind of nearing I guess it’s all-time high was about two cents so not quite that high that was back in June but let’s take a look and see what kind of news has come out the only thing I can really find is that basically they’ve adjusted their algorithm so that and what does that algorithm tie into why is that important that helps maintain the stability of their platform and the SIA coin platform if you haven’t heard about it and you may not have because of it being in the you know the 50th ranked coin it’s probably not everybody’s favorite sweetheart and it’s a jump coin in some people’s mind because of its price not because of the product here’s what their product is it’s a decentralized cloud system so imagine your files getting uploaded anonymously into the cloud and then through an algorithm and encryption being distributed all throughout the world so you take one file you upload it parts of that file are being stripped apart and being stored on different servers all around the world with redundancy so that ends up giving you a raid or redundant array and so that should provide privacy security and anonymity as well as stability so you’re gonna hold your key that unlocks the files brings it back off the cloud their algorithm is now helping with the encryption and storage and location of that information their product promises to be ten times less expensive than other cloud storage the redundancy helps provides stability it’s open source so you can develop on it and build api’s and let’s take a look so right now businesses because of level one compliance are usually putting their storage on to Microsoft Azure and Amazon W you know ws3 but Google cloud I guess is a viable alternative to I mean I use that more for personal storage you know Google Drive and things like that but when you look at what five terabytes cost that’s about the equivalent of five average desktop computers hard drive space these days you’re looking to spend about $600 per month for bandwidth access and storage costs on any of the three big major providers but SIA coin the this unheard-of alternative for most businesses is 15 dollars and when you when you look at the factor of what businesses are looking for first and foremost most businesses that are looking for compliance level one compliance are going to be looking at credibility stability and security because they don’t want any of their stuff to get hacked we don’t want another Sony issue we don’t want another target issue or actually Madison or any of those other issues where people’s private information and credit card information is being stolen by pirates so SIA coin may not have that credibility yet you know they’re not it’s not gonna be a household name they’re probably not being talked about in the social circles of the tech space with CTOs and and CIOs but you know it’s certainly something that when a business looks at is it at least as good as the other ones that’s you know probably to be determined and tested but at fifteen dollars versus six hundred dollars that actually works out to be about thirty times cheaper and when businesses are looking at storing tens or hundreds of terabytes so multiply this times factors of tens and fifties profitability becomes a factor and that might lead some businesses to start testing out their platform the moment that you start having businesses not people not necessarily end-users like you me or anybody else big money starts getting dumped into the platform mainstream adoption starts taking place businesses start referring it it becomes a mainstream thing that may or may not happen and that’s speculation but I have faith that the team here is willing to pull is able to pull off the product and that the price on the coin is currently right I wouldn’t jump in and purchase this coin currently right now at point eight six cents let’s go ahead and refresh and let’s take a look at the volatility and see what kind of price action we’ve had here in just a few moments that we’ve been talking about it staying kind of stable I do kind of wish it was back to that point nine four it was this morning when I woke up but c’est la vie that’s just something that’s gonna happen with any of these volatile coins I could sell right now I could probably take about a 60 to 80 percent gain on my initial position I can speculate that maybe it’ll drop to 0.7 or maybe it’ll go back to its average of 0.6 cents or 0.5 eight cents again which is where it had been for a few days if you look here in this lull and repurchase it there you know I don’t have any reason to believe that the coin is going to like shoot the moon and go and become a ten cent 25 cent coin on a stable basis and when you look at the circulating supply of almost 32 billion it’s probably not gonna become a dollar coin right it’s not gonna rival one of the big top five coins out the count there so you know just keep this on your radar watch it because the technology is promising consider making maybe making a small position because this is one of those sub cent coins that probably isn’t gonna stay sub cent for too long and it might become worth three four or five cents here next year you know who really knows but it’s exciting to see and wake up and find a coin that you had been taking a leap of faith on because you believe in the project and seeing some kind of activity come out of it this is Steve signing off from all coin buzz go ahead and subscribe to our channel if you’re already a subscriber and you don’t have the bell rung next to that to get alerts on our new videos go ahead and do that drop a comment below let me know if you’ve been looking at SIA coin or what you think of their tech and team even if it’s if it’s a bad comment good comment we want to hear the discussion and go ahead and give me a thumbs up and we’ll talk to you guys soon [Music]

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