Lets adopt some charitable listening please. There are legitimate concerns with the current payout systems. Everyone is aware of that and it’s hitting smaller node operators more than larger ones. This also creates a bit of a barrier to entry. I happen to agree with the bet on Ethereum long term, but with that I have to say that I’m also in complete agreement that in its current state, Ethereum doesn’t work for a lot of SNOs.
It seems to me that the expectations that Storj had were in line with the broader expectations around this change.
- You may have had different expectations, but that doesn’t mean it is surprising that others didn’t agree with you before the fact.
- I have not seen any proof that a rise in costs was related to the london fork. This is not as easy as saying costs were higher afterwards, because it coincided with a big rise in crypto value and thus a big rise in activity on Ethereum. The time to be smug about predictions is when you have proof that A caused B. So far you just have a correlation, no causation.
- The london fork was never really meant to lower costs, but to stabilize it block to block and eliminate sudden spikes. Additionally it is meant to prevent miners to manipulate those costs upwards. It did that to some extent, but is nowhere near the end game. Cost structure changes alone can never solve the scale issue. ETH2.0, sharding and L2 solutions will though… we’re just not there yet.
When they are not… I have only ever had 2 months of postponed payout (and I ended up with more STORJ as a result, since high fees usually coincide with a jump in value). It works just fine if you have 8TB or more and get a payout at least every quarter. But it takes a bit of startup time. That puts some selection pressure on the type of node operators who stick around for that. At the moment, that selection pressure is actually a positive. There is no shortage on node operators at the moment and this unintended filter ensures that the more invested and reliable node operators stick around. Not a bad way to build a solid base for now.
So the question becomes, can Storj afford to wait until Ethereum solves its problems? I think they can, but reasonable people may disagree.