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So I did a quick look and it seems like the total usage of siacoin is not that large.

https://siastats.info/hosts_network Only 710 TB is in use. Or about $20k worth of hardware TOTAL for the entire network, according to the above URL.

Also, why is this a cryptocurrency at all? Wouldnt this business be drastically simplified by simply paying people out//letting people rent space with either USD or bitcoin?

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> Also, why is this a cryptocurrency at all?

Do you even need to ask? Because they have minted a bunch of SIA coin and this is their effort to give it value out of thin air, making them all millionaires. Using someone else's currency, despite its obvious benefits, means no huge pre-minted pool under their control = no lambos.

Every single ICO project is like this.

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