Thoughts about Sia making storage deals with corporate clients in cash instead of coin
In the AMA from 4 months ago, the question was raised, "When you get corporate clients are they going to be paying in dollars or siacoin?"
Co-founder/lead dev David Vorick's answer was, "Depends on the corporation, and the specific deal, and also depends on what are lawyers say is safe for us to do.
If corporate clients are willing to pay in siacoin, it's very simple for them to use the network. They can hire us on support contracts if desired, or if they aren't having any trouble they can just use it themselves and not even notify us that they've begun using Sia.
If siacoins are not compatible with their internal policies, we will be able to work with them anyway to get them operating on the Sia network, though the specific process will probably vary by customer."
My thoughts on this are that corporate clients of course are highly desirable and funds for Sia to operate and grow are highly desirable, and as stated there are circumstances where laws may require fiat payment, BUT it also seems like this is a deviation from the purpose of there being siacoin to pay for storage.
Would it be possible to account for this by Sia using a set portion of fiat payments received to purchase siacoin on the open market and either 1) pay that siacoin pro rata to wallets holding siacoin as of a certain date (like an ex dividend date for stocks) or 2) burn the siacoin purchased, like a company buying back and canceling its own shares and thereby increasing value to coinholders?
What are people's thoughts on this?
Posted Jun 3, 2017, 4:53 PM UTC · edited