SiaCoin Bounties announcement

SiaCoin announces Sia Bounties for integrations with popular apps & platforms
20 July 2017   3409
SiaCoin

Is a cryptocurrency for the actively developed decentralized private cloud data storage service Sia

A decentralized cloud storage SiaCoin team has announced the beginning of an ongoing series of bounties, each between $1k and $10k, paid and denominated in Siacoin.

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

As the company reports, Sia Bounties will allow them to reward the contributors for building integrations between Sia and popular apps and platforms. 

The funding come from a group of enthusiasts, quietly organized a “donor’s club” and remaining anonymous. 

A bounty will only be paid once to one submission and, unless specified otherwise, it will be paid to the first individual or team to meet ALL the criteria set out for the bounty. This may be changed in special cases for larger bounties, clarifies SiaCoin team. 

All projects have a time period where they are useful to the development and growth of Sia and likewise all bounties will have an expiration date. Submissions will not be accepted after the expiration date, unless the bounty is renewed. As reported, in the event of multiple submissions in the same time period, Sia and the Donors will evaluate each submission and serve as tiebreakers.

The first bounty is already there as SiaCoin team reports on its Twitter, Sia is offering 300,000 SiaCoin. 

Bear Market to Hit Mining Hard

BitMEX research division presented an analysis of the impact of market decline on the mining industry
11 December 2018   75

The cryptocurrency market has experienced a marked decline over the past weeks. The BitMEX research division presented an analysis of the impact of these events on the mining industry. Bitcoin hash rate has fallen by 31% since the beginning of November, which is equivalent to the capacity of 1.3 million Bitmain S9 devices. From this, BitMEX concludes that miners as a class are in a difficult situation, however, they may have different conditions, and those who pay more for electricity, are forced to turn off their equipment first, while others may still be quite viable.

The decrease in the price of Bitcoin by 45% since the beginning of November has already caused two recalculations of the complexity of mining to the lower side - by 7.4% and 15.1% on November 16 and December 3, respectively. The first recalculation turned out to be the largest since January 2013, the second - since October 2011.

Bitcoin mining revenue fell from $ 13 million per day in early November to $ 6 million per day in early December. The fall in the size of the miner's encouragement turned out to be even more rapid than the fall in the price of cryptocurrency. This is due to the delay in recalculating the complexity of mining. For the six-day period ending December 3, 21.8% fewer blocks were mined than expected, since the miners left the network before recalculating the difficulty. As a result, in addition to reducing the size of the miners' encouragement in dollar terms, due to lower asset prices, they received 21.8% less bitcoin awards.

One of the popular reasons for the recent decline in the cryptocurrency market is that miners sold bitcoins to cover their costs of hash warsin the Bitcoin Cash network. The monitoring platform Boltzmann recorded an unusually large sale of Bitcoin by the miner on November 12, that is, 3 days before the hard fork of Bitcoin Cash.

BitMEX assumes that the actions of miners over the past weeks could have played a significant role in reducing the market, however, recommends not overestimating their value and reminds that in a bearish trend, prices continue to fall regardless of asset movements and news.