Siacoin was one of the first altcoins that I was interested in outside of the top coins, and if you don't know what Siacoin is..
Siacoin is basically a crypto coin that is used to pay, and earn money by allowing or storing data on other individual's "free" space of their hard drives.
At first I was very excited at the idea, because who DOESN'T have free space on their hard drive.. I never use half of mine!
But I have recently been presented with an obstacle that crypto coins like Siacoin face.. Right after Siacoin's v.1.0 release on June 28th that was supposed to be huge for them!
I downloaded the UI and it took about 2 days to sync, but it was great!! However I started to notice the price of Siacoin starting to go down, and I started asking other people familiar with Siacoin why this was happening.. There was one answer that DID concern me about Siacoin, and other storage coins like it, which was.. "Why would people want to store other people's potential "illegal" content on their own hard drives."
Now I do a lot of research on blockchain and sidechain technology, but I still don't understand a lot of it. So I don't know if this is something to be concerned about, but for now I will hold my Siacoin that I have.. I would love to hear other thoughts on this risk with these types of altcoins.. and if they really are competitors for Dropbox?
