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Tuesday, October 4, 2022

Siacoin – Dropbox Squared

Hello, smart investors! Today I will tell you about Siacoin, SIA. Is this the next Dropbox, the future of online information storage? It is very possible. Before starting, I invite you to click on the “Subscribe” button under the video, to subscribe to the “Leonis” YouTube channel, join several hundred investors smart people who receive my investment advice every day and take your independence financial.

Let’s go! The Sia company created Siacoin, which is a token, and created a whole infrastructure behind it. They, therefore, want to replace Dropbox. Concretely, what does that mean? Well, it’s a storage system in the decentralized cloud. Today, when you store a file on Dropbox, well, it gets sent to the cloud.

The cloud is only a server, it is sent to the Dropbox server, and that means that there is a central point of failure. That is, if the servers are hacked, or if the server, the server factory of Dropbox in California catches fire, well you can lose your data, and most importantly, you can hack them to you, if there is a hacker.

Obviously, it is very secure against hackers on the one hand, and on the other hand, it there is redundancy, i.e. if there is a whole warehouse of servers that burns, Dropbox, they stored data somewhere else because, of course, they don’t want to allow your data to be lost would be catastrophic for them.

But, Siacoin, it’s a completely decentralized project in which your data, at instead of being stored in one place, are cut in full of small pieces, in full small packets, encrypted and stored on full full full full full of computers of service around the world.

This is extremely interesting because telling you that if any of these servers were being hacked, well nobody could have access to your data, since they would never have the full information, they would only have a little bit, and the other ends would be in other places.

And of course, it’s encrypted with techno powerful enough that, anyway, that we cannot decipher it. So this is a project that I find relatively interesting and futuristic. Siacoin has risen a lot in recent days. It is currently at 3 cents, with a market cap of 1 billion.

That is interesting for a market cap of 1 billion because in general, it is at from that moment we say that society has really acquired, finally to a rather sorry token, gain market confidence. Ranked 26th among cryptos. So the token had risen to 11 cents in January 2018, as usual, with a market cap of 3 billion, so there it is on a third of its market cap and a little less a third of its price, eh, 11 cents, 3 cents now. Me, it’s the kind of project in which I believe a lot.

I had invested, on a personal basis, in a startup that is a competitor, which is called “Storage”, which basically does the same thing, which used to do it. What is interesting is that Siacoin came after and managed to grow bigger faster, and to expand. So, good for them, it means that they were very, very good.

If you want to buy Siacoin if you have it and you want to know when selling, you are of course free to join my Mastermind Crypto Leonis, in which I give you live, every week, crypto in which to invest and, daily, investment signals to buy and sell, and take your earnings, I put you the link in the description.

Read More: How to buy Siacoin on SimpleSwap

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