If the payouts are manual, you can just let mine accumulate until ETH 2.0.
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The payout process being manual doesnât mean that a person processes all those 10k payments manually. that would be insane. It just means it is not fully automated (yet). Storjlabs is an IT startup, not a big company with 10k employees and not a bank either. Some expectations in this thread are amusingâŚ
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It doesnât take 10k employees to deal with some of the issues raised. Iâve been a member of distributed teams many times and those teams were not large by any means. It takes structure and assignment of responsibilities.
I think the reason reason it is this way is that is not a priority for storj . Exactly why zksync gets pushed - it suits storj to do so.
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I was only comparing to 10k employees because of the amount of payments to process.
For storjlabs it makes no difference if they pay you on L1 or zksync. Itâs the same script that does the payouts. (but the changes for zksync needed to be implemented first, which took manpower).
Letâs just face it, some of the problems here are unimportant to most people and storjlabs has lots of things with higher priority than improving payouts.
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I think youâre exaggerating. What lack of transparency?
Some of the problems here really are rather unimportant. People do get paid reliably and regularly.
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What is the cost per transaction (in terms of 1 wallet address being 1 transaction) for storj paying with zksync and paying the ânormalâ L1 transfer fees?
IF you are a long term SNO or you want to be a token speculator and will accept zksync, on that basis then, yes. Remember for most of you that have been long term players (1) storj paid you surge payments (2) For a long time storj took a loss just to pay you. Neither of those scenarios apply now. (Which is correct for the long term sustainability of the business.) But it means the environment for a SNO with under 12 months âserviceâ is an entirely different beast from those who have been around in the longer term.
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The last surge payment was in November, so 9 months agoâŚ
The current new pricing for customers doesnât cover the SNO payments, so there is still a âlossâ on StorJâs side.
I would agree with you on this. There are more storagenodes on the network so they take longer to âfillâ. This causes node payments to be smaller for longer, which means operators donât see the fractions of cents being paid into their wallet, due to the payment threshold enacted because of the increase in transaction costs on the ETH chain.
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Iâve been following this thread and I agree that the payment process can be frustrating, especially for newer SNOs. I would like to point out that payments for June were completed on July 6th, which given the US holiday (like it or not Storj is a US based company and observes US holidays), the payout was completed in 3 business days. Which I would argue is very reasonable.
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Except that that is not all what is being discussed here. And we arenât talking fraction of a cent payments either. As one other person pointed out they were just under the $21 US payment level and due to the increase in gas fees over the last few days previous to the payment date they just missed out on being paid. Indeed had the payments been completed two days earlier even I would have been paid. Iâm not at $21 for sure but Iâm not fractions of a cent either. Maybe $21 is not significant for most people in western countries but I can guarantee you for people in a lot of the world $21 US is most definitely a significant amount of money. Heck, I can feed my family for a day on that amount without difficulty (5 people and a cat).
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Except SNOâs are global and storj has a global work force. I suspect (but donât know for sure) that storj does not stop emloyees from following local holiday customs. Maybe @Alexey could answer what the deal here is for storj staff? To enforce a US system on a global work force would seem rather stupid. But I get some Americans feel like they need to enforce their rules everywhere. Believe me, i have had enough personal experience of that. cough Bechtel cough.
You want a fiat payment?
Just wait some months to get enough balance.
Itâs too long for you?
Enable zksync and transfer the amount to L1 when gas fees are cheaper (generally during Saturday-Sunday night). Check this to find the best time.
You want to get rich while running some nodes?
Buy a datacenter.
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Would i be right in saying that currently payments to snoâs is actually free to storj (not including eth used to perform transaction) because the actual payment that the operators get is actually made by the various exchanges. This may not be true in time as storj may have to buy storj from exchanges to make payment or used returned coins through customer purchases. i bring this up because of people mentioning the difference in cost between price to customers and price paid to SNO, also the use of surge payments to give us a boost every now and again. Do they actual cost storj any thing more than the transactions to process.
So funny that when people talk about getting a payment the derogatory remarks about wanting to âget richâ always start to come out.
Month 7 for me so far with two nodes going.
No, because i would also need to use Metamask or use yet another wallet and I donât want to do either. I want a simple process. Transfer to my wallet, transfer to an exchange, transfer to my bank account. Oh, and the complete lack of Exchanges on L2 is also a current problem.
You can check supported wallets on there website (eg. Metamask, WalletConnect, Leger and more), maybe even your wallet. https://wallet.zksync.io/
Other than that, zkSync is exactly what you want: You get your payment, send it directly form your L2 wallet to your exchange address (use withdraw, not transfer to make a L1 tnx) and you can exchange it to fiat.
(FYI for now you need to do a one time tnx on L1 to activate your L2 address)
My wallet is not supported and requires Metamask.
No, it isnât. I have no interest in zksync in the current environment.
If you want to make money by participating in a blockchain network and using different wallets is too complicated for you, maybe you should consider another side-business.
You are participating in a pretty new technology, collaborating with a quite new startup and emerging market. You may also be considered as an early adopter in 10 years. So it seems fair to me that it is not as simple as selling a well-known service and being paid in fiat currency through traditional banking services. I agree with you: making things simpler is one of the biggest challenges for all blockchain-related markets. But once again: step by step.
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Iâm participating in a business that sells storage space and âpaysâ people who provide that space with a token. I really donât give a crap about any other part of the blockchain. As I have said before I have no wider interest in crypto. I do have an interest in internet based distributed projects and have had so for many years. Neither did I say it was too complicated. I said I didnât want to do it. Can you please cut out the veiled insults?
What I disagree about here is sometimes the difficulty is needless. Storj itself has made a big deal about paying SNOâs in USD. Strangely enough I actually want to be paid in those USD and not to jump through too many additional costs along the process as to make any payment meaningless. Surely to actually calculate what one is being âpaidâ in net terms as an SNO all costs involved in that payment need to be accounted for?
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That was by far the biggest complaint though, and zksync solved it. Long term it will likely solve more things, but adoption has this network effect problem. It only makes sense to use it if others do. Someone has to be first and Iâm glad Storj is helping push it forward.
It is if they want some room to make changes. But payouts have happened during the first week for many months now. They donât actually use the 2 week window most of the time.
Yep, Iâm with them on that. It isnât. Payouts are good enough for now. As long as there are improvements they can make to make more customers choose Storj over the alternative, the entire ecosystem benefits. Not everything can be a priority automating payouts currently shouldnât be one. Better first make sure there is something to pay out.
Iâm with you on the sustainability argument. But there are plenty of nodes for now. The focus should be on getting customers. More customers will make things more profitable, which attracts more node operators automatically. Iâm not worried about that part of the equation at all. Storj can still accommodate a lot more customers with whatâs already there (remember there is also still a lot of test data that can make room for customer data).
This absolutely applies now. There is still a lot of test data and traffic and even customer data is now stored and transferred at a loss since the price changes. Storj is currently losing money on every byte stored and downloaded. You donât have it so bad⌠trust me.
Why? What are you basing this on? There are plenty of nodes with free space. The network is doing fine. Just look at the satellite stats. Itâs perfectly healthy. Node acquisition now would just lead to less profit per node. Customers should be the focus. The nodes will come.
In that case, just donât run nodes and run a datacenter instead. Should be more profitable. 
Sure⌠if you argue that Storj has no value⌠but then what are you doing here? I see the token balance Storj has as similar to an investment runway for startups in the sense that itâs going to run out. And they will need to have their shit together on the business model and customer base before then to be able to survive. Any losses they make eat into that runway. It doesnât make sense to say it doesnât cost them just like it doesnât make sense to say any other startup doesnât have costs because they are using investor money.
I donât think this is derogatory at all. There is an unbalance of expectation due to a lot of âminersâ coming here to make a quick buck. I think itâs worth mentioning thatâs not what Storj is. You get fair compensation for services offered. Meaning if you buy HDDâs for it, you can count on it being a year or two before you get any ROI. On that scale, getting paid this month or next month really shouldnât matter. So if someone tells you this, itâs just meant to signify that your expectations may be wrong.
Calm down⌠nobody is insulting you, youâre just having a disagreement on a forum. No need to get touchy.
Sure⌠it does sound super easy to build a payment system that pays out in fiat in over 100 different countries with different payment and banking systems⌠oh, waitâŚ
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Can you actually show where I expected storj to pay out in fiat directly? Yes, I want to convert my payments to fiat but I never had an expectation storj pay me in USD. I am not someone who has asked them to ditch the storj token for whatever the fashionable token of the day is.
Ok, you donât think it is derogatory. I do. We disagree. And again, is there anywhere in this post that I have said the rate of pay is unfair or unreasonable? I do not have a problem with the current rates. My âexpectationâ is the payments system needs work. Again, we disagree. The world doesnât end. But you are part of the clique of long time players who no longer faces many of the issues of newcomers. Of course it would be expected you see things differently. How many payments did you miss out on in the last 4 months? 1 I think it was? Your self interest is in a different place.
I can accept this as fact - though the cause is the pricing change rather than spending many times the value of transfers in fees as it was before. But yes, storj is still losing money. I am someone else who awaits with interest the forthcoming changes to pricing for SNOâs.
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