Siacoin
$0.0308 -3.63%
SC · 196w

Still debating buying an Obelisk? This may help

Sia Tech

Last month Sia Tech announced (https://t.co/CgbwRKCsIc) as a way to prevent 51% attacks that they are in partnership with a chip maker to produce an ASIC, The Obelisk, for SiaCoin mining. The Sia Tech blog goes in depth into why they believe ASIC’s are the correct move for the project and also provide a thoughtful introduction into differing blockchain proof systems. The post is a great introduction to the mechanics of the blockchain and ASIC mining vs GPU mining and we haven’t even started talking about the groundbreaking technology that all of this powers, decentralized cloud storage.

Obelisk by Nebulous

The Obelisk has already had its pre-sale come and go. Initially they planned to sell 2,000+ Obelisks with a hard cap of 10,000 total units offered in the pre-sale. After the week long pre-sale 1,000 units had been ordered so they extended the pre-sale indefinitely with the aim of 2,000 orders and a hard cap of 4,000 units total. At the time of this writing 1.260 out of 4,000 miner’s have been ordered. The Obelisk is not expected to be shipped for 6-12 months which, in conjunction with the recent market correction, seems to have scared away Obelisk buyers.

In exchange for taking the risk of pre-ordering the Obelisk, Sia and Nebulous have guaranteed that no Obelisks will be shipped for at least 6 weeks after the first batch has been shipped to those who order in the pre-sale. Even with the total ordered below the goal it appears (via Reddit) that the team will still be able to manufacture with what they have planned. All of this is great news for the Sia team and Sia Tech in the long run as they have laid out their vision and are allowing investors/miners/storage aficionados decide whether or not it fits their needs.

Risks and Investment Considerations

Having to wait 6 months to a year in the cryptosphere seems like a lifetime and with the current market correction Siacoin has seen its price lose about 60%...

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