Siacoin (SC) is a cloud storage crypto directly rivaling the likes of Dropbox. Renting cloud
storage off Siacoin is currently around 10X cheaper then Dropbox. Users can also sell
their own hard drive space to the Siacoin blockchain and get paid for it in SC. It is
un-hackable due to the nature of block chain and already has a working product and
has been in use for a while. As of writing this the market cap of SC is sub 400 million
The entire cloud storage industry is projected by Forbes to reach up to 500 billion
dollars by 2020. If Siacoin could capture only 1% of that market, that would value
the currency at 5 billion dollars so there is definitely a lot of room for growth and
currently there are no other competitors for Siacoin in this space. The fact that they
already have a block chain and a working product put them far ahead of any other
potential future competitors.
Here at CryptoInMinutes we believe there is a lot of room for Siacoin to grow and it
definitely has a place in our long term hold bag. Currently its listed on 3 exchanges,
Bittrex, Poloniex and HitBTC.