They own STORJ Coins, why would they exchange it and then send it to you to pay even double the transaction fees?
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Why not implement a proper withdrawal system? Let SNOs choose transaction time and max gas price they’re willing to pay. Gas price storjlabs used for january payouts was 260gwei, meanwhile you can see much cheaper transactions going through and they use less gas as well. Storjlabs may provide a single use monthly withdrawal credit to SNOs to keep their part of the deal.
The problems this approach solves:
- SNOs can withdraw directly to exchanges and the risk is reduced because withdrawal happens not once in the middle of the month (maybe if txfee is low) but right after SNO submits withdrawal request.
- SNOs who prefer to exchange storj get a possibility to do that without getting ETH or risking their earnings.
- Withdrawal threshold is greatly reduced and SNOs with earnings below that threshold can still withdraw if they’re willing to pay the difference.
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You have no idea how spot on that is… 
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LMAO what are their market risks? are you kidding?
just check the gas vs converting USD to USDT
this is how storj actually makes money - the are paid in USD, they pay you out randomly in the token. As the owner of the token, they’re in perfect position to pick the moment of payment bc it is intentionally not fixed to any factor
defi, binance, actually everybody are paying interest in crypto now. holding tokens for such long is a clear rip off. Who benefited? the gas price is even higher than it was
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This is exactly what the zkSync payout solution offers. It solves all 3 problems you mentioned.
I’m not, they are taking the fluctuations in value for the payouts that haven’t yet been sent. Eg. market risks. If you have more specific questions, please ask them… respectfully. And from this point on assume I am not kidding. Thanks.
no need to ask them. If the price will dump to 0.1 cents, they will just send you more tokens
again - they are paid in fiat (USD) for their services. Their risk is zero. You’re taking it.
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They’re not creating the tokens out of thin air. If the value of the token drops Storj Labs is the party which is hurt by far the most as they are currently the biggest token holder. Yes, they have reserves, but they aren’t endless and having to pay more tokens comes at the cost of their run way before the product has to pay for itself. When those reserves run out, Storj Labs will have to buy back tokens from the market.
What you’re saying is akin to saying a company spending money they got from investors doesn’t have any costs, but only income. I think you’re missing a big part of the equation.
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To further deal with the fee’s issue wouldn’t it be an idea to do quarterly payouts instead of monthly…
if nothing else then that would cut costs on fees by 2/3… and it would also help limit the transactions.
tho i guess that might just make more go over the barrier… so not sure if the math would work out…
but would limit the number of transactions storj uses
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It’s an option, but it would lead to even more delays in payouts than the current threshold alone.
I’m not missing anything, I am fully aware how businesses work.
But it’s undeniable their mitigating their risk by putting it on SNOs
Otherwise they would pay in USD / USDT
btw - the thin air? what about the double payment in recent months? you think that they could cover it just like that if it wouldn’t be paid in crypto?
They are mitigating part of COSTS not risks, with DELAYS in payouts again not risks.
Are you suggesting they just ditch their reserves and with that their runway? Yeah, not gonna happen, obviously.
What about it? That came out of their reserves. What’s your point?
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That’s actually the best argument for the costs storjlabs has. If they pay SNOs while prices are up, they need less token. So effectively they might end up having more money. While if the price is low, they pay out a lot of tokens and burn through those tokens faster even though they spend the same amount of USD.
One has to account for the additional costs of tx fees of course but you can’t say it’s better for storjlabs to not pay while prices are high.
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it’s funny how you raise some points to contradict them in another post later on (“reserves” lol)
I’m actually done. Awaiting my December tokens calculated fair with the rate used for ppl who were actually paid back then. By holding tokens for first 12 months, storj is backing themselves sufficiently. Now it’s time to back up the SNOs.
Otherwise I migrate my HW to do something else, mainly bc such “unforeseen” problems will repeat here sooner or later. They had years to avoid them and make payments regular and transparent
Its not just storj that is being affected by the gas fees everyone who is dealing with the Eth blockchain have to deal with the fees, Its uncontrollable even mining pools have to deal with the fees and they also raise the limits for the minimal transactions every month. Its is unfortunate that it does effect how much you will get paid every month but that is just how it works. It will drive people away from being a SNO espically the little guys who got into this thinking there were going to make some pocket change every month. But only time will tell and it can improve overtime.
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that’s totally OK. I understand it
I just want my tokens
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Can you please just respond to the points without the tone of ridicule. I have no idea what you’re even trying to say here. If there are contradictions point them out and I will try to explain my point.
That’s ok too. I was starting to wonder if you were interested in constructive debate or conversation to begin with. But I’m happy to continue whenever you are.
That too is an option. And my nodes will welcome your data with open arms. But in this topic we’re trying to focus on finding reasonable solutions to a problem we all share. Complaining alone isn’t getting any of us closer to that. Do you think I’m happy about missing my payout? I can tell you, I’m not a fan either… but I want to move towards solutions, not just complain.
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So it unfortunately contradicts the whole idea of the network. There will be a concentration to “big” players and not the small ones with hardware the have laying around 
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They are partially paid in USD and Tokens, depends on how the customers pay. Also they don’t exchange USD to STORJ just to pay you, they already have the STORJ and give that amount to you that corresponds to the value in USD.
send me my tokens with a regular fee that is used by any different pool / project instead of arbitrary holding it. is that clear? is that so unusual? nobody is holding my assets (I mine / farm different things) except for storj
is the fee a pain? go L2
just don’t hold tokens
or set a USER DEFINABLE THRESHOLD like all of the pools do