Honestly why care? The company “storj” is not treating me, how I treat them. Ofc. I will not pay when storj can’t pay my expenses, I won’t “donate” money keeping a huge 1.5PB rig alive, while I wait for GE.
Heck, at this point I don’t even know if I will be paid for my work in July.
Has nothing to do with “hot shit”
I am just telling storj, that if they lower payouts. So I can’t pay my electricity for the server. And the costs, I am not absorbing that. It’s their mess, their mistake.
They threat me like a contractor they do whatever they want with. And I will do the same to them.
Who knows if they have the money to even allow for money for GE? Don’t be a doll catching the falling knife.
Thats the whole setup, and it has been the whole time.
The knife is only as big as you made it. Mines pretty small, and looking good to use for more plex storage. But in the meantime it pays for the electricity my server would use anyway. If it doesnt, Ill decide between GE and deletion.
The knife gets bigger, if storj can’t fund the GE.
If the payment does not arrive for July, the conclusion must be that funds for GE don’t exist. = falling knife
Agreed, and as someone else noted it doesn’t appear that there are any custodial tokens nor mechanism which represents any amount for ‘graceful exit’; it’s beset as only an operating expense. Thus it’s likely that the knife doesn’t only get bigger, but it’s also double edged.
This is a fantastically exotic slow motion train wreck, I don’t think it’s even sunk in that everyone here is a passenger.
Damn, token sale reserves gone, hype to sell the company and now liquidation. They even try to sell a dead company.. and “This will need to move fast”.
So long, thanks for all the fish during these years!!!
We’re prohibited from doing this due to regulations. Tokens are still not shares, securities, or stocks; they’re utility tokens used in the Storj network. We can’t participate in market liquidity support operations, etc.
Furthermore, the token price is irrelevant as long as all settlements are conducted in US dollars. I know volatility exists, but we don’t manage it and are prohibited from doing so.
I don’t know what you mean. If the company has a token reserve of 100K tokens are you saying it does not make a difference if the token value is U$ 0,01 or U$ 10?
An example:
Token reserve: 100K token.
Monthly cost: $1K USD
Token price: $0,01 USD
You need 100K tokens to pay $1K USD, reserves last for 1 month.
Token reserve: 100K token.
Monthly cost: $1K USD
Token price: $1,00 USD
You need 1K tokens to pay $1K USD, reserves last for 100 months.
If you manage to keep the token price high, then the reserves last longer. Where am I wrong?
What I mean is that it’s a utility token—you buy it and use it in the service, and it’s immediately converted into its USD value in your balance with a +10% bonus. It’s the same with SNO—we buy the token and send it to SNO. If SNO sells it immediately afterward, the amount should be roughly the same.
As for reserves, yes, this means we’ll have to buy them on the market if we run out.
Nowhere, except for the fact that we can’t do almost anything to keep the price high
Precisely because the Storj token is not a stock, a security, or a share.
That’s reflected in the Service provider payments, salaries and net network operations. And you can see an increase due to the bear market price.
The “Other” category in the chart is not related to operational costs.
Yes, but unfortunately they arrived too late, and it seems the idea wasn’t fully developed.
I still don’t have any details, for example. The general idea was clear, but how it could be implemented in the limited conditions was unclear.
I thin is is also time to get rid or storj token, It served its purpose well. But today it more matter of loosing money for storj. Client pay then value drop till storj pay to node operators, and this huge loss in operational cost for storj. If it would stable coin then there is no problem. When there was initial reserves of Storj(start capital) there was no problem. But today it is problem. So I see that All operation need to go to some stable ground.
I don’t know if we’ll be allowed to do this, and I also don’t know the rules governing the circulation of stablecoins; for example, USDT is practically banned in the EU.
Depends on what Storj does with the tokens.
If Storj sells the tokens immediately after receiving them, then the value won’t have changed much between the customer buying the token and Storj selling it.
If Storj holds the tokens for paying node operators, then, yeah, the value may change.
The same applies to the node operators -
if you sell the received tokens immediately, you get the USD value that was calculated for your payout.
If you hold the tokens, then the value may go up or down.
Sending small amounts of USD to lots of people in lots of countries would likely be really annoying both for Storj and the people.
I guess Storj could use some other crypto like ETH.
Imagine how much they cared about the token price