This answer is quite misleading because, for instance, Ethereum or Bitcoin fulfill this requirement. If the sole purpose was to facilitate payments, it wouldn’t have been a sufficient reason to create yet another coin.
My understanding is that SJCX and the Storj token served their purpose for fundraising and bootstrapping the project during its early stages. However, since the entire infrastructure is already in place, there are no compelling reasons to discontinue using it.
There are no reasons to keep using it if there are solutions available that have low and fixed costs and would be able to pay SNOs in their local currencies directly into their bank accounts or other preferred payment methods, as they prefer.
The tokens give a 10% discount to customers paying for space, and are an easy way to send payouts to SNOs without the hassle of dealing with fiat on a global scale. It seems to be working well: STORJ can keep recycling the existing supply forever… now that they’ve reached a scale to be profitable.
Maybe one day they’ll want the predictability and lower-tx-cost of something like Base USDC for payouts: but that’s something they could offer in addition to STORJ. But what they have now works - so there’s not a strong reason to change.
We’ve been lucky to mostly avoid the speculation that comes with some projects that use crypto tokens. Most customers pay in fiat, and the token has no direct link to the profitability of the company… so the number-go-up crypto-bros have left us alone 
No, it does not appear so. Please elaborate how did you come to this conclusion?
Those “investors” are morons and there is no pity for them. Storj token is not an investment vehicle.
Repeat after me: “The STORJ Token is not intended to be a digital currency, security, commodity, or any other kind of financial instrument.” This is from the horses mouth by the way.
lol. You shouldn’t be holding tokens.
I think we are getting to the real reason behind your weird posts: you “invested” without doing any research into what are you buying and now you are in denial.
When you missread the market, the docs and the forum, you buy a big bag of utility tokens, and you want to blame everyone else…
Let me correct that paragraph -
the real impact is felt by community members and investors ME who have purchased tokens at market value—many of whom are ME now facing losses. While the team continues to benefit, there seems to be minimal effort put into creating real utility or demand for the token. This approach raises serious concerns about long-term commitment and alignment with token holders’ MY interests.
I can assure you, that almost everyone is not interested in token price here. If the token even drops to like 0,000001€, you get the same money as a node operator, cause you get payed the fiat value in tokens. The only one’s crying are the ones, who bought the token for wrong hopes. This is not a share of the company. In fact no crypto coin is a share of any company. For that you have to go to a broker and by shares from like Microsoft or so. This is a private company that (afaik) legally doesn’t even need to share anything. Yes they maybe would benefit from rising token price, but as this is a free market, they can do nothing about it. And most customers are paying this service with fiat and not crypto (afaik too)
If the STORJ token has no direct value or connection to the company, and node operators are paid based on fiat rates, then what’s the real reason behind releasing more token supply?
You can’t have it both ways — on one hand claiming the token price doesn’t matter, and on the other hand diluting supply, which clearly impacts market value. If this isn’t about raising capital or extracting value from the token, then why manipulate supply at all?
This looks less like decentralization and more like silent profit extraction — all while telling the community that token price is irrelevant. If the token isn’t a share, fair enough. But at least be transparent about how and why the token is being used as a funding mechanism.
The community isn’t blind. Either the token matters, or it doesn’t. You can’t keep shifting the narrative to suit your strategy.
Lol delisting loading
It is like a kickstarter. The Company gets more Cash to boost business. If you start a Company with a low amount of Money, you can do an ICO. With the StorJ Token, you are able to get the Service and pay for it. That makes the Value of the Coin. StorJ Releases Tokens slowly so they cannot make a Rugpull like many Coins do on the Solana Chain. (And maybe other Reasons too)
Yes, because if a Node operator earns 30 USD in fiat, they get that payed out in the form of the current Token value. Not hard to understand at all. if it crashes, we get more Tokens, if it rises, we get less.
Every Company tries to make Profit. Or are you trying to make a loss by operating a company? The big difference is, that storage is decentralized and all software is open source. In theory you would be able to copy all and make your own Company. (if the licence allows it, that part i dont know about)
The token dosnt matter, we try to tell you that since days. The main reason of the Token is, to make payout easy. In the other hand you would be able to pay for the Service (and get a 20% bonus for using the token if it is still an offering)
Yes delist it out of your wallet and forget about that token
This was explained many times, included in this very thread About supply and future planning - #21 by arrogantrabbit
But the dude/gal does not read. What’s the point in asking question and ignoring answers?
Want to know more — go RTFM, and stop wasting everyone’s time until you have actual unanswered questions. It’s all there. Nobody here has a secret communication link directly to CEO’s brain.
On the contrary, you can contact CEO@storj.io
This means that the token’s value has a significant impact on the rate at which Storj’s reserves are depleted. If the token’s value is low or very low, Storj’s reserves will drain faster. Furthermore, if the value is low and there is no demand for the token, there is a risk that the token could be delisted from exchanges or become difficult to sell. In fact, I have personally experienced this issue, where I was unable to sell received tokens for almost a day due to lack of demand.
I believe the bonus is actually 10% and I don’t believe this is sufficient to create significant demand for buying the token.
Once Storj’s reserves have been depleted, it would be prudent for them to switch to a more stable and reliable solution. One option could be to use a popular stable coin, which would likely even have a positive impact on SNOs. Even better would be to abandon the token system altogether and pay SNOs directly into their bank accounts with a solution provider I had already hinted. It is possible to automate this process for the vast majority of SNOs looking at the map where the nodes are. And for the few countries that might still require a manual task, this still might be done in an at leas semi-automated fashion.
The Storj token was great for the start but will hopefully become obsolete soon.
There are a lot of customers who prefer STORJ tokens as a payment method and not only because of 10% bonus (however, I believe, that it adds something). Even in EU cards may not work or cannot be charged automatically, the same for AP.
I can repeat multiple times - it’s not easy to pay in fiat as a company, when it comes to pay to 123 different countries with own rules and restrictions regarding foreign currency. Even you cannot receive USD from the USA company with easy. Because in EU you use SEPA, which is incompatible with SWIFT (used in USA) and not compatible with hundreds other money transfer systems around the world. And you are in EU, the most adapted region for money transfers. But even you will have problems to pay for the Storj service with a usual Sparkasse card, or almost any other if Stripe would render it as a prepaid card (it’s a setting of the card by the issuing bank, and many EU banks set it exactly like a prepaid card).
In other countries it even not possible.
It seems to me that even @Wasi20908 got answer to his question, his mood & attitude did not change at all.
I would also have a question to you now, to explain us the hostility and the behavior your are currently showing us. Specially when i saw above that you had a previous post that you will go submit an application to the SEC against this project.
If you are so hostile, why even ask questions?
What is your goal?
Why you keep talking here with the people that develop, operate the project?
Who hurt you?
If any answer you get does not change your opinion, attitude, why keep asking questions or talking at all?
Thanks for your time and answer!
Just boatloads of ignorance on here. The token is a store of value, period. STORJ is supply & demand based, primarily used as a median for the exchange for services; it is not going anywhere, it can NOT be replaced by any fiat exchange B.S. Token reports clearly show the bulk of circulating supply is free from lockup, is free trading, and doing well, in fact it hit it’s recent $1.20+ high well after they liquidated the majority of precontrived/well understood schedule of reserve tokens. Should you want to purchase 80+ Petabytes of it’s network’s available storage, go for it. Buy 100 million tokens for $25 million, right now - it’s an open market. Demand pushes token value up, realize that value with storage needs in the future, at $1.00 you’d have $100 million in storage reserved value; and quality value at that; the value received is THE market. Maximum token supply is more in context to future demand and the company’s reputation/needs/future success and an entire Pandora’s box of options. Ask yourself questions like can the system support this scale, what are the inflationary pressures involved, what time-lines must be accounted for? Can the company supply 25 million terrabytes, or 6,250 or even 25,000 petabytes right now? No, there’s a ceiling - but can someone lockup 6 years (87PB) worth of storage at that value, right now: yes. Either cash it all in now contractually, or amortize it’s usefulness. Why would they need to dillute it? It’s only a 4 million a year revenue prospect to utilize the entirety of my 87PB example of network capacity.
Blah blah blah, not worth the time getting into a seminar here.
/rant off
1/100 Millions of a cent,
Julio
P.S. Meanwhile the GPU/AI/CunoFS’s profitability already DWARF this public/select storage segment, but nonetheless are additive/beneficial to it.
Paying and receving payments in FIAT requires KYC, meaning Storj must identify you with ID card, proof of address etc., and to report your ID to some gov. agency that tells Storj it’s OK to pay you, you are not a terrorist. And to comply with every countrie’s laws.
Are you willing to go through KYC? How many SNO are willing to do it? Why Storj should allocate a lot of resources and money to be KYC compliant?
Just to satify 2-3 operators?
SNOs earning more than $600/year have already been KYC’d, FYI.
Negative.
