BITTREX:SCBTC   Siacoin / Bitcoin
Here on the 12 hour chart is the triangle SiaCoin SCBTC is now trying to break out of.

There are two good reasons to like this coin from a practical perspective:
1) Sia is an interesting cloud storage technology allowing people with spare disk space capacity to farm it out, see https://sia.tech
2) It's a miner's favorite because it can be dual-mined. Popular mining software such the claymore dual miner can mine both ETH and Sia at the same time without loss. So to those who mine ETH, ETC or another coin using the dual miner, Sia can now be mined at no cost. How that converts to market sentiment is hard to judge, at the very least there's volume and interest.

This analysis is not intended as investment advice.
Trade active:
Some positive volume showing on the 1h chart.

Comments

I think one of the issues facing Sia is the Bitmain tech which has annoyed some of the community members. There is a recent post from SIA on not going down the soft fork route but they've laid out their demands to ensure cohesion between the different mining community.
+1 Reply
gyphorz hasaai
@hasaai, why is that an issue? people are being salty because Bitmain was not transparent and their release and people have already bought Obelisk. So when Obelisk release their machines, their profits will severely be hit because the hash algorithm has gone up. So from here it can go one or two ways : fork or not to fork. They then came to the mature decision not to fork because it would be pointless. They have once chance, if they go for it it will cause a dip in the price and a month later Bitmain will release another chip to adapt. Soooooooooooooooooooo .. what we have now is a lot of miners pushing to get all these coins with the hash algorithm going up. I imagine that a lot of these people / institutions have stocked up on A3 and will be holding. Price will go up long term, may not be a soon turn around but also a big update end of march. I imagine the target 700+ would be around there.
Reply
Karnicle hasaai
@hasaai, I don't think its an issue, well as of now sia actually communicates with miners, theres a point in which compromise has to be given, you allow too much freedom in mining and the coins value drops and mining doesn't become profitable a year from now, so i think they are going in the right direction
Reply
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