Alex Morris

SiaCoin Price Prediction- How Much Will SC Cost in 2018\20\25?

In this article, you will find our most up-to-date SiaCoin price predictions for the upcoming years
SiaCoin Price Prediction- How Much Will SC Cost in 2018\20\25?

 

What is SiaCoin?

SiaCoin is commonly known as the Airbnb of cloud storage. It allows renting unused hardware space to other users who, if permitted, are able to store their data on your computer. The Sia network ensures privacy by encrypting all the files that are stored on the host’s hardware. Only the uploader is able to access the information with the help of a private key.
 

What is Siacoin

Unlike cloud services from such tech giants like Google and Amazon, SiaCoin puts emphasis on decentralization, so you are not obliged to rely on an individual company. Moreover, these mainstream cloud storage providers could get widely expensive, so SiaCoin is definitely a more affordable option.   

So far, the network fails to offer a slew of features like Google Drive, Amazon S3 or Dropbox, but as more developers get on board, SiaCoin will get more advanced. Subsequently, price predictions for SiaCoin are also expected to improve.    

SiaCoin price prediction 2018

It is currently the 41st largest cryptocurrency on the market with a market cap of around $235 mln. The SiaCoin price is currently at $0.0065, which is a bit underwhelming for investors. Nearly in one week, the cryptocurrency lost almost 22 percent of its value. Here’s a table that vividly shows how the price of SiaCoin has changed over the past few months.

Date

Price High ($)

May 08

0.027050

Jun 08

0.018454

Jul 08

0.011093

Aug 08

0.007207

However, some pundits are certain that the coin has the potential to hit $1 as early as in 2018. While this may sound like an extremely bold SiaCoin price prediction, let’s break down the reasons why investors might still want to bet on SiaCoin (SC).

  1. A threat to incumbent data storing services. As mentioned above, the Sia network has plenty of potential to replace the likes of Dropbox due to its extremely low fees. Even John McAfee paid attention to SIA back in December 2018 calling it ‘unique.’ However, the infamous crypto enthusiasts were still iffy about the coin’s investment potential.

  2. SiaCoin usability. As the network expands, its native token’s value is also expected to proportionally increase, which definitely fuels SiaCoin future price predictions.  

  3. Growing convertibility. SiaCoin has already been listed on the majority of big exchanges where it can be easily bought with other cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). For example, the coin saw a 20 percent spike in price following the Binance listing in June.  

  4. Price stability. Despite some recent bearish trends that may negatively impact SiaCoin price prediction for 2018, the currency’s overall performance instills confidence. It might have experienced significant volatility (as you can see on the graph below), but it’s not so critical as compared to some other altcoins.

SiaCoin price prediction 2018

SiaCoin price prediction 2020

In order to make some adequate predictions for such an extended period, we have to take a look at SiaCoin roadmap for the upcoming years. With speed being one of the main issues, the company is going to reach the level of Amazon S3 as early as in 2018. Moreover, new data distribution features, which are currently in the pipeline, are going to be implemented. By 2020, the company is planning to become a big player on the cloud storage market elbowing out Amazon and other major competitors. So, can this inflate SiaCoin 2018 price predictions?

Of course, this roadmap sounds too ambitious, but if the team keeps working at the same pace, it may reach some of its development goals, which will subsequently push the SiaCoin price further. While facing such heavyweights as Amazon and Google may be tough, SiaCoin barely has any competition on the distributed storage market apart from Storj, so this project has pretty good timing. In fact, Storj utilizes a rather similar technology, but its hefty price tag (on par with the aforementioned mainstream cloud services) will definitely be a turn-off when there is a much cheaper alternative.

However, one cannot make a SiaCoin price prediction for 2020 while isolating it from the whole crypto market. As mentioned above, you need Bitcoin, Ethereum or any other big altcoin to buy SiaCoin. Since the majority of altcoins usually reflect Bitcoin’s bullish/bearish trends, the king of crypto and the cryptocurrency industry as a whole will have an enormous impact on the future price of SiaCoin. Taking into account the possibility of mainstream crypto adoption in the nearest future, SiaCoin price predictions 2025 may look completely different.   

SiaCoin mining profitability

Back in June, SiaCoin appeared in the headlines because of hackers who gained access to thousands of computers in Chinese cafes in order to mine this currency. Remarkably enough, these shenanigans conveniently coincided with a gargantuan 400 percent spike in SiaCoin price– it went from $0.002 to $0.01 in just two months. Of course, nobody could foresee it in SiaCoin price predictions 2017.   

Just like Bitcoin or Ethereum, you can also earn SiaCoin by mining it with the help of special hardware. However, David Vorick, the leading developer behind SiaCoin, is pretty skeptical about the profitability of mining claiming that manufacturers are the only ones who profit off expensive ASIC mining chips. Furthermore, he claims that there are secret ASICs that are not revealed to the general public. It’s worth mentioning that Vorick has his own mining company Obelisk that is threatened such a near-monopoly like Bitmain.

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Darryn Pollock

Does a Bigger Market Cap Mean a Better Blockchain Company?

Coinmarketcap.com is visited by hundreds of millions of people, so what does it mean for a token that cracks the top 100?
Does a Bigger Market Cap Mean a Better Blockchain Company?

Since the Blockchain boom in the early part of 2017, there have been a number of Blockchain companies emerging with an idea that a cryptocurrency or a Blockchain token can be a disruptive force and affect a specific targeted sector.

However, there have also been a lot of failed ICOs, poor businesses, and fly-by-night scams. The frenzy around ICOs made it easy for a lot of projects to earn money without any checks or balances, and a lot of money fell into some bad investments.

Essentially, it came down to the value of the business and whether it was making progress. Because of the speculative nature of the ecosystem, determining that was hard to do in any other way than on hearsay.

But, there is one overarching metric in the Blockchain space which spells out the worth of Blockchain companies along with decentralized cryptocurrencies, and that is their market cap. Market cap rankings seen on sites, such as coinmarketcap.com, are viewed as an important measure, but they are a measure of a successful or potentially successful company.

If one starts to understand the market cap and the value of a company’s tokens as an intangible asset and a way to measure the equity of these new and unprecedented companies, then they must follow that success in the market cap rankings is the equivalent to a successful and valuable company.

A new breed of intangible assets

Traditionally, one way to value a company was through the equity and tangible assets. Intangible assets, like brand power and other more technically valuable things, were always hard to consider unless an IPO or publically traded stocks became available.

However, with the tech boom, companies like Microsoft and other tech giants relied much more on an intangible valuation of their company. Now, with the boom of Blockchain companies and the definite need to value them in discovering if they have what it takes to succeed, there needs to be a new metric.

To this end, considering the value of a company’s tokens, its growth along the market cap and the interest it receives from a decentralized investor base can be considered an even better way to determine intangible value.

The value of the market cap

There is a number of benefits that come with firstly breaking into the top 100 market cap rankings, and there is even more when the value of a company continues to rise through the rankings.

Nexo, a cryptocurrency-backed loans company, recently saw the advantages that came with cracking the top 100 market cap after a bout of good news and decisions from the company.

Nexo is currently sitting at 62 in the market cap rankings, not having been featured in the top 100 less than a month ago. For Antoni Trenchev, one of its co-founders, there is a lot of good that comes with this for their company and the Blockchain space.

“For those on the outside looking in, it is often the first port of call to determine the size of a business,” Trenchev explained about sites like coinmarketcap.com. “I believe this rise up the market cap standings is not only a magnificent milestone but also a good space to be recognized by potential customers and investors. It is also a recognition that the company is doing well, especially in terms of how we deliver our crypto loans.”

Trenchev believes that with the current climate, especially for ICO companies, it is now more important than ever to show growth and deliver on promises. The bearish market has made it difficult for cryptocurrency companies, and the so-called ICO bubble has made it even harder.

“Because Blockchain companies are still so new, and as such, are trying to find their feet in the global market, they have been increasingly difficult to value. There have been things like ICO bubbles and a huge hype that have overinflated the price and value, but those companies that have succeeded and stuck through it are now starting to shine,” he adds.

“In the very near past, we had quite unrealistic valuations of Blockchain companies that were clearly unsustainable; a market cap of $1 bln for a company can be quite elusive as liquidity apart from very few of the 2000+ crypto assets is no way near liquidity in the traditional stock markets.”

“Now, after a few months of a market correction, we are seeing a normalization of valuations which is a positive outcome, and this is ultimately a good thing.”

Value at the top

The thing with the market cap rating is that it is a very dynamic and fluid ranking system. Coins that were near the top can easily fall away and crash to nothing. The market cap of a company surely has some effect in determining its value, but that value needs to maintain and grow for there to be a real belief that the project is solid.

Trenchev makes decent points about additional advantages that come with reaching a promising point on Coinmarketcap, and those advantages need to be absorbed and grown in order to help the company be a success.

If a company cannot maintain its high standing in market cap rankings, it is probably a bigger red flag than if it is lower down the rankings but at least steady.

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Alexander Goborov

The Blockchain Market Continues to Expand: Predictions for the Near Future

The global Blockchain technology market is expected to reach almost 2.5 billion USD by the year 2021
The Blockchain Market Continues to Expand: Predictions for the Near Future

According to the recently acquired data by the research portal Statista (based in Hamburg, Germany), which have been kindly shared with UToday, the global Blockchain technology market is set to grow at an impressive rate in the near future. The trend looks as follows:

image

Having moved past the ~200 million USD mark two years ago, the ~350 million USD mark last year, and the ~550 million USD mark this year, the forecast predicts close to 1 billion USD next year and almost 1.5 billion USD in 2020. The projected figure for the year 2021 is set to be around 2.5 billion USD.

Note that these numbers pertain to the actual market adoption of the Blockchain technology and does not include money pools associated with daily cryptocurrency speculations, nor market capitalization values of individual altcoins.

For more insights look here:

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Darryn Pollock

51 Percent Attacks on the Rise in Smaller Altcoins and What it Means

51 percent attacks are becoming more frequent, and while still hypothetical for Bitcoin, they pose a substantial risk for smaller altcoins
51 Percent Attacks on the Rise in Smaller Altcoins and What it Means

There was a time when the idea of a 51 percent attack on a cryptocurrency was far-fetched and purely hypothetical. This is still the case for something as large as Bitcoin, but smaller altcoins are succumbing to this form of hack.

In recent times, coins such as Zen Coin, Bitcoin Gold, Verge and Monacoin have all experienced such attacks which has led to millions being stolen. It is an attack that is become more regular, but it is one that is totally preventable, and perhaps this recent surge will lead to better defenses.

What is a 51 percent attack

Essentially, it is when an individual, or more likely a collaboration of people, work together to control more than 50 percent of the mining power of a Blockchain network. Then this group with more than half of the hash rate then decides to verify certain transactions on the Blockchain network and leaves others unverified.

This also allows them to spend their coins (confirm their transactions) more than once. This occurrence during a 51 percent Bitcoin attack is known as double spending.

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This type of attack usually affects coins that use a Proof of Work algorithm, rather than say a proof of consensus, and this is one of the factors that makes a Blockchain susceptible to such an attack. Other factors include interchain linking, the size of the mining pool, and the tokens used.

Recent attacks

Some recent attacks include those on Zen Cash, Bitcoin Gold, Verge and Monacoin. All of these attacks have been dealt with, but the damage has also been done. Many investors lose faith in coins that are hit with attacks of this nature as it shows weaknesses.

There are of course things that can be done to not become victims of such attacks, which includes using different algorithms and making sure the expense of performing on a coin per hour are substantially high enough to deter hackers.

However, these attacks should also serve as a lesson to other coins to start building defenses against these attacks which are more substantial and direct.

There are at least four lines of defense against a 51 percent attack. The number of confirmation requirements can be increased, the attacking entity can be boycotted or more drastically the attacking entity can theoretically itself be attacked via a Distributed Denial of service attack or there can be coding changes at the protocol level.

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Wheat from the chaff

Perhaps, this lesson serves the ecosystem well as it is quite clear that coins that are well thought out and structured have a much lower chance of falling victim to an attack like this. Bitcoin cannot be attacked in such a manner and is the most popular and secure cryptocurrency.

So, just as people lose faith in a coin when it is attacked in such a manner, perhaps these 51 percent attacks are showing where the cryptocurrencies that are still needing work are, and deterring people from the less impressive option.

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Coins Guide George Shnurenko

How to store NEM (XEM) Offline (on USB)

🎓 Coins Guide
A paper wallet is the safest way of storing crypto
How to store NEM (XEM) Offline (on USB)

If you are not an active trader, a cold wallet will be the best option for you because it allows you to keep crypto offline eliminating the possibility of a hacking attack. There are two cold storage options: hard wallets (Ledger Nano S, Trezor) or paper wallets.

Hardware wallets help to efficiently protect your money from scammers since your coins are stored on a physical electronic device. Even if your hardware wallet has been stolen, you can simply restore your coins on a new device.

There is also an additional level of security in the form of a PIN code. One shouldn’t rule out the possibility of a random security bug that will create a gateway for crooks. Hackers could potentially get access to your wallet using RNG (Random Number Generator). However, you shouldn’t be excessively paranoid, since not a single case of theft has been reported at the time of writing this article.

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Safest way to hold your cryptocurrency

A paper wallet is the safest way of storing crypto, but make sure you do not tell anyone the private keys to your wallet. You also have to keep multiple copies of your keys: your Bitcoins will be lost forever if you happen to lose your paper wallet along with the keys. In order to check the current balance of your wallet, you can simply go to Blockchain.info and enter your address.

If you constantly make payments with BTC, you may want to create a semi-cold (software) wallet. Software wallets are called semi-cold because they can be still installed on computers that do not have access to the Internet (it is advisable to prevent a potential phishing attack). Electrum is one of the most popular software wallet for storing Bitcoin. It combines a user-friendly interface with a high level of functionality.

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📈 Pricewise Daniel Osten

Confrontation in Cryptocurrency Market Continues, Bitcoin Price Finds Foothold at $8,100

Pricewise
The waiting game: Bitcoin is stuck at $8,100 as parties are gathering strength for the next move
Confrontation in Cryptocurrency Market Continues, Bitcoin Price Finds Foothold at $8,100

 

It feels like by the end of the week the opposing sides are exhausted- a great deal of effort has been expended already, but bulls and bears will only get their deserved rest upon achieving their goals.

So far, no one is getting anywhere and the main market parameters remain the same- just like yesterday, capitalization is at $325 mln, Bitcoin dominance is 42.5 percent, and its price is held within narrow (as compared to previous volatility) borders between $7,900 and $8,400.

The lateral movement of Bitcoin price creates a good opportunity for the altcoins to prove themselves. Of course, during an ongoing global correction, one cannot expect miracles from the coins- it’s good enough that they are not falling.

Some assets may occasionally stand out from the rest like Ripple did today with a growth of eight percent. The other members of the top 10 show more modest results with increases around two percent. In addition to XRP, Litecoin is still looking better than the rest of the market, and XEM is in the worst situation, having rolled back to 12th place.

Upcoming news may shake the market

The media is hashing over the news about the Google cryptocurrency and ICO advertising ban as if that alone provoked the drop in the market. Of course, the price takes into account all factors, but we encourage our readers to think critically- if we were seeing market growth right now, the news would be swallowed up and forgotten the next day.

The results of the G20 deliberations between representatives of central banks and finance ministers may turn out to be a much more fundamental factor for the crypto industry. Questions regarding the possibilities and the security of Blockchain technologies in general, as well as cryptocurrency regulation and anti-money laundering, measures will not just be put on the agenda- special meetings will be dedicated to these issues. We will certainly return to this topic and follow the market reaction to the statements of the participants.

BTC/USD

At the time of writing, Bitcoin is trading at $8,200, where it has found temporary shelter. The fall was suspended at $7,700, upon reaching the lower boundary of the parallel descending channel, one of the many mirror levels, as well as the 1.618 Fibonacci retracement from the last growth wave.

It’s essential to understand that despite reaching a local minimum and making a small rebound, the trend remains bearish, and seller’s goals have not yet been achieved.

However, we wouldn’t rule out a slow turn from the current values. Buyers are beginning to put up resistance to the decline (this is evident from the long candle shadows, of which we are seeing more and more), but are unable to break the trend- bears are not allowing the price to gain a foothold above $8,400.

Confrontation in Cryptocurrency Market Continues

The further direction of the movement largely depends on the resources still available to bulls and bears. In this situation, bulls have a greater challenge, growth without volumes often ends badly, while bears are aided by the trend and by gravity. Big players may want to wait for the results of the G20, so the period of uncertainty might drag out. In the current situation, this is to the benefit of the sellers.

Further decline targets have been discussed here before- it’s the level of $7,200 with multiple confirmations. As for trying to break the trend, bulls need to get a comfortable foothold above $8,400, which they have not been able to do. 

XRP/USD

Yesterday, Ripple was falling harder than other coins in the top 10, so today, with the permission of Bitcoin as it sticks in place, we can see a slight recovery of lost positions. Growth is limited by the 0.786 Fibonacci retracement, and under the current conditions of uncertainty, buyers can’t seem to overcome it. Besides, XRP continues to move within the downward channel formed on March 5 after an unsuccessful attempt to break the resistance.

Confrontation in Cryptocurrency Market Continues

If market decline continues, buyers are likely to support the asset only at the $0.57 level, which corresponds to the previous minimum of the February correction. A surge in buyer’s activity is not only possible but also necessary. This level is critical, beyond it lies the road to $0.50 and $0.43, and those are values we haven’t seen since the middle of December 2017.

Right now Ripple is looking like an abandoned child, but this impression can be misleading. Compared to the middle of February, trading volumes almost doubled, so it’s likely that we are seeing a phase of accumulation before explosive growth. Ripple is quite capable of this, as we had the opportunity to confirm at the end of 2017.

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