At the time I write this, Siacoin is sitting at 0.007101 and I found myself wondering, what would make this coin increase in value?
Siacoin is tied to a cloud server company that makes it much cheaper to utilize cloud storage than the major players in the market.
Siacoin is also mineable, though not an extremely profitable coin to spend resources mining with a CPU or GPU rig compared to other coins of higher value. If I look at past values of the coin I see its been as high as .021 which means to me that the potential is at least there for it to get back there at some point. While cloud storage may not be the most attract tech associated with a blockchain coin its at least something that should Siacoin market themselves more towards capitalizing on their competitors customers the overall popularity of the company and the coin could rise.
However, the one thing I thing would ultimately help Siacoin grow in popularity are two things.
A. An increase in the coins effective use in various transactions, so, something like the latest Pre-ICO announcement of Zempa.io would greatly benefit Siacoin holders as they would be able to passively exchange their Siacoin for more useable coins for purchases and transactions without suffering fees and costs while gaining the benefit of the mas price fluctuations of the coin.
B. A large increase in the mining of Siacoin. Now, increasing the mining of the coin will ultimately drive up the market cap and in turn should improve the coins value. But how do you get more people to waste their precious CPU and GPU on mining a coin whose value doesn’t merit the resources over more valuable coins? You dont, you launch a new hardware miner people can tuck away and rack up a volume of coins every month. Obelisk is doing exactly that. They are 1,530 orders into a 4,000 order run of miners that will mine up 150,000 Siacoins a month at a cost of $2,499 and a discount on additional units. A little over 2 months and purchasers have recovered their hardware investment.
The thing is, while Cloud Storage may not be the most magical of technical offerings associated with a crypto, it is a stable one you can count on long term and for that, I feel Siacoin could prove a stable long term investment. My plan is to buy up as much Siacoin as possible while the value is low and wait for the steady incline in value as the use options for the coin also expand.