An open letter to the Storj token community: the restructuring, the network, and a proposed path to shared ownership

Did anyone follow today’s court meeting? I tried but my english skills are not good enough…

Can you post link to it please.

Live (zoom) is free. Recordings are also available but not free.

is it already going or just starting?

Based on the hearing dates, the next available is August 11 1:30pm EST

Wondering now whether zoom will handle the traffic. :rofl:

For clarity, 2026-08-11T17:30:00Z if I’m not mistaken.

Is it just me having problems with forum access?
2 days ago I got a blank screen with a line of text, today it didn’t load.
Are you migrating to some cheaper servers?

I think they installed an update. Some things are looking new for me (or I never recognized those things :see_no_evil_monkey:)

Fully agree. Information and data is missing.

The buyout proposal fails to addresse the minimum mandatory information to even considere if it is worth to invest into this company or better sell the STORJ token as long as they have at least some value.

Information that I can think of that I am missing:

  • Define ‘buyout’
    Who is selling? What is being sold? How much of it? What is included? Required target capital?
  • Numbers
    We have them partly from the 12-Week Cash Flow Budget mentioned in the proposal. Cash flow, revenue, expenses, team, customers
  • Business plan
    Strategy to success, schedules, capital requirements

And probably even more open questions. These should be provided so that interested parties can make a more informed decision before signalling anything.

Thanks JoshGarza for the pertinent trip down memory lane, and your thoughts. :slight_smile:

But the rest of this thread:
I can’t … I just can’t with you people. I’m hardly even bothered to push out some stream of consciousness to rebuke some of the straw grasping everywhere here.

Yes, I wholly called out management over the course of time as to their complete failure to steer the token (in forum posts all along, only to be rebuked by zealot moderation herein, with few other signs of moderate debate - ie: JDan and his curious ways.). And their obvious massive losses, I even gave everyone the numbers of their destruction of capital as it happened. The specific liquidations per quarter, and their absurd burning of over $32 million dollars… Check my old posts. I was happily making a mockery of it all, using the information to profit and sharing my knowledge with the forum, in real time. This was truly a slack board of governance.

So many amateur hour suppositions here that it hurts my head, the ignorance is not worth commenting on.

$900M - nah… haha closer to $1.4 billion in my estimation, both valuations are hilarious, indeed - straight up crypto-style.

Had this company acted like Ewwwwlon Musk, it could have massively capitalized on Carbon Credits - the only reason Tesla even exists today; therefore it might have actually achieved an admirable valuation. But they face-planted there.

Simple concept, a token - utility in this case or not - represents corporate equity and belief, you don’t just protect it by buying it and burning it unless your business is more profitable (or there is evidentiary belief that it will be) than investing elsewhere. It’s balance sheet stuff, and subject to tax changes annually, mark-to-market. Storj demonstrated they had zero confidence in this core asset, thus the insane ongoing and corrupt liquidations in front of all of the community. There where some who massively profited after they liquidated ALL their position, save for the last tranche, while not even treading water. That last tranche is gone by the way, in case you haven’t analyzed/noticed their market buys of late. Even those were stupidly placed and executed, extremely poor management - especially by value when it mattered the most.

BTW utility token people, you do know the actual value of this token as a utility coin right? As a ‘stable coin’ it only has a fully circulating and addressable value no more than one multiple of it’s monthly expenditure/real enterprise value; only upon substantive growth would any new authorized tokens be put in circulation.
Well that hard cap is over, finito.
Ergo:
On the rough napkin calculation, I am warning EVERYONE HERE.
The actual tokenized value is approximately, due to average monthly demand: $120k / 424.9 Million fully dilluted. Where the token would remain somewhat stable, but illiquid: THE FOURTH DECIMAL PLACE. LOL, I made a joke about this a few days ago, when I said support would first kick in at about .045, which it has.
So what’s that mean?
STORJ has a floor of $0.00058837 (USD) - If the company survives.
Only then could the companies purchasing power of tokens fully stabilize the distribution much like a stable coin. Then and only then do you have a utility token.

As a going concern in bankruptcy, maybe .. maybe it’s worth about 1/5th of what it trades at right now - fully subscribed and converted to equity. Maybe that’s a possibility if it’s a >51% subscription, it would be legally possible.

2 cents,

Julio

You forgot that a company buys storj to pay storj company so a fraction higher

Weird activity

Payment wallet is getting filled with STORJ so it’s a good signal

https://etherscan.io/address/0x303edcd8dbe1607fe512d45cc15d3e41fa4db44b#tokentxns