I don’t understand the L1 L2 concept very well.
What I did after I received some STORJ in zksync is that i tried to transfer it to my wallet in binance. But as it seems the address in L1 and L2 are quite different. I was thinking that I transfered 7.8 StorJ to myself to address 0x79a876689c44edac8efac71d762ba56241fe811d in binance. However, as I read now, binance is using L1. Therefor I have transfered to someone else in L2 with the same address as mine(that I use in L1 in binance). Can this some how be undone? And why isn’t there a warning that you might be transferring to a wrong person? Isn’t there a way to differentiate between L1 and L2 address. To me it sounds very stupid. Because I mined for months for these 9 STORJ that I finally received in zksync and now I practically gave it away. And all is because STORJ don’t want to keep their promise for monthly payouts. 2 years ago when I started no one mentioned that you have to mine 50 60$ worth of StorJ coins to get a payout … I wouldn’t start it these were the conditions. And in the current situations if those coins get stuck only in zksync … what is the point of having them if you can not exchange them at some point?
Before you accepted Zksync you should really have done your homework before randomly sending it to an ETH wallet, The ethwallet you send on binance is yours you just dont own it so now you cant access your storj because its on the L2 blockchain. If you were to convert from L2 to L1 again you could access it on the binance L1 If binance ever supports L2 your storj will appear but since you dont own this wallet private key you cannot access it.
This is why your suposed to make sure you own the wallet and have access to the private key and exchanges do not allow you to have access to this.
Also this is the argument why no one wants to use zksync because no exchanges support L2 its been said over and over again, which is why everyone was angry to find out storj was going to force you to use zksync by default.
Yes, you are absolutely, right. So what is your advice? Should I change back my settings to the previous address that I entered, that pointed directly to my binance address? That way after 1 or 2 years, when I eventually mine 50 60$ worth of coins or whatever is enough for the transfer, I will get them in binance and will be able to use them. Because as I understand having them in zksync is as useless as not having them at all - just seeing them in the dashboard - held ammount. Right?
What I did because of fees is just put my exchange address and I just wait till I make the minimal payout for now, till there is a better solution for it. Everyone says its not recommend but I also mine directly to my exchange address so I dont have to spend on any fees transferring back and forth. This is my recommendation for now as of right now.
My node only made 49 dollars and got a payout so its not really that bad to wait I have no issues to wait 2 - 3 months as long as I get it to the right place.
Right it is useless to have it in zksync because you would have to transfer it back to L1 in order to use it and you will have to pay fees yourself. The only useful part of it at least you get paid every month other then that I cannot recommend it at all since its so new right now.
Yes, I think that is the catch and it isnot very well explained. Or you have to dig in deep to understand it. I mean the pros and cons. In the StorJ documentation and forum only the possitive things are discibed, there are no negative. If there was 1 sentance writen, telling us that our StorJ coins becaome unsable when they get transfered to zksync … I don’t think that a lot of people would have bothered to change their settings. So yes, tomorrow I will return the settings as they were before and wait few months or years until I finally get what is already mine.
Just remember fees arent always going to be high it never lasts forever. How much is your node making per month right now?
my main node is making less than 5$ per month it is 2TB and full
I have 2 more one is less than 600GB and is half way full and the 3rd one I started few weeks ago that is less than 1TB
It is probably clear for everyone that you can not make any real profit with this storage mining. I just have few old spare hard drives, which I wanted to use before I throw them away. They have bad sectors, so I can not realy place any important data on them. So I shared them with StorJ, while I mine ether and xmr, with my video card and with the 2 cpus that i have in the workstation. I mine just for fun, just to see the different types of mining and to test stuff. As I said you can not make any real profit with storage mining. Or maybe if you get the hardware for free you could get a bit of profit, I don’t know.
So far with storj ive made nothing but profit since I started running mine it costs me nearly nothing to run my nodes on pi4s and a free machine I got on market place with drives I had sitting for a few years, Turned into me buying bigger drives with storj. When a node filled I started another.
There is an “Alternative Withdrawal” for zkSync. So you can get your coins back. But you really should look that up yourself before you use it (never used it myself).
There is, but I fear it’s not going to be worth it in this case as the cost will be higher than the tokens to transfer. It’s at https://withdraw.zksync.io
You are absolutely right:
So guys, newcomers like me, be very carefull and don’t make the same mistake as me. Don’t try to use zksync, use your common sence. Just wait until you get enough coins for a payout or if you are just starting and you want to get profit but you don’t have a lot of spare storage(less than 10TB), don’t even bother starting and wasting your time with Storj. You won’t get any profit out of it. At least not in the first 3 4 years
…For exchange deposit address.
We do not recommend to use any exchange deposit address on any level as your wallet. It’s not your wallet, it’s a wallet of the exchange.
If you use your own wallet, then zkSync is the option, because a normal withdraw from L2 to L1 (not emergency as you posted) via wallet.zksync.io would cost you almost the same as a normal L1 → L1 transfer.
See Test zkSync with TestSTORJ token - #18 by littleskunk
The withdraw.zksync.io is called an emergency withdrawal because it doesn’t uses a normal withdrawal flow via wallet.zksync.io on Web3 and thus costs much more and requires to use ETH for miners fees, unlike wallet.zksync.io where you can use STORJ tokens to pay fee.
The emergency withdrawal is needed only when you do not control your private keys.
Thank you for the detailed explanation.
However, lets be honest, how many people mine so that they can keep the coins in their own private wallet? What are they going to do with those coins? Can I go and buy a phone for example if I have 1000 StorJ? No. I have to exchange it to BTC, ETH, Euro or $ so that I can make use of the mining, right? By the way I have few milion old Serbian and Russian money(Dinars and Rublei i think). And they have become useless. 15 or 20 years ago I could have bought a chocolate bar with them, no they are just … paper, no one can buy anything with them. To me having StorJ or any other of the low profile coin alternatives, stashed in a private wallet somewhere on the web … is eqal as useless as having few of the notes/currencies described above.
Many of us uses the decentralized exchanges like Uniswap, Etherdelta, etc.
They do not requires a trust to the centralized exchange, you can use your own wallet.
We always suggest to do not use deposits of the exchanges to receive your payout. We have had a lot of tickets from those who did not follow and fall to trap - either deposit was wrong (ETH instead of STORJ), or deposit address has changed, or exchange decided to stop withdrawals and so on. So we always suggest to do not use exchange deposits as their wallet and use their own wallet instead.
P.S. Being Operator in Storj network is not mining. Hardware is not important, only activity of the customers is important. Thus - no predictable income or constant traffic.
STORJ tokens are not coins, they are issued in 2014 in fixed amount and there will be no new STORJ tokens. Tokens are used to pay operators for their service and to pay to Storj DCS for usage of decentralized cloud storage.
Why there will not be more tokens ? I mean even after 5 or 10 years?
No, the token contract created a fixed amount that can’t be changed later. This is important because if it could be you could manipulate the value by just making more. This is impossible with the contract as it is on the blockchain. So when Storj Labs runs out, they will have to buy back STORJ tokens from the market.
didn’t know that.
in that case, there is a high probability that the price of the tokens will raise a lot
Or StorJ will just sign another contract? I am pretty sure there will be workarounds to avoid paying a lot.
The workaround is having paying customers who pay more than the tokens would cost. It also helps that Storj Labs pays out in dollar values, so even if the token would suddenly be worth $1000, they would simply have to buy back much fewer tokens in order to pay SNO’s. But the company needs to be viable with sufficient customer interest before the tokens (and investor money) run out.