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RE: Investigating the Top 50 Cryptocurrencies, Part 4/50: Siacoin
At least it has a purpose! Blockchain was designed for security not speed (look at btc confirmation speeds). If you need speed, centralised servers are the way to go. But I will certainly check this out.
What happens to tokens you pay for storage? Are they recirculated in the system? Or are they destroyed (decreasing total supply and hopefully increasing value of remaining tokens)?
Those tokens go to the people who are providing storage space, minus 3.9% which pays out as a dividend to holders of the SiaFund token (10,000 in existence, 0% inflation).
Can you earn coins by renting out hard disc space?
Yeah that's what I am saying, I think the people who offer hard disk space are the ones who receive the tokens.
I have some rigs with biggish hard drives that run 24/7 so I may look at this closer. Many thanks