Why is this such a big thing for the storj community? I can’t think of any crypto projects without minimum payouts in some form.
Not a big thing at all but it means the above is not true.
Storj is not a crypto project per se - they just happen to pay in a token. No one “Mines” here.
Sure, but for every opportunist who is able to get a low price, someone else is paying a premium. The intent was to make it more fair for everyone. Additionally, they want to optimize for programmability which is a lot easier if there is more consistency pricing. It also makes wallets simpler because they can basically just display the current cost, rather than offer a large range of options.
But there was a lot of debate before it was implemented for a reason. It’s not a universally positive thing. It comes with some downsides, but in the end the majority decided the upsides outweighed the downsides and here we are.
2 GPU’s. 3090 + 2080Ti
Because of the time it currently takes to reach that threshold. Storj has a slow start, so you’ll likely be waiting more than half a year for your first payout unless you use zkSync. Luckily once you start getting payouts, they’ll quickly become more frequent. It just takes some time to get there.
And yes @penfold, it’s in theory true that they may not have to pay out some of those amounts, but they’ve always promised they would when the costs drop, which means they have to keep those in reserve anyway. So even if they never pay them out, those tokens are in a reserved pool and can’t be used for anything else. And even if that weren’t the case, those relatively small amounts don’t weigh up against the substantial extra costs for the transactions they do have to make. So it is clearly still better for Storj to have lower fees.
More close to 14 months currently. As I mentioned , I am at the end of month 8 and not even half way to the current threshold.
But if you have a stable price the price isn’t going to drop that much.
Yes, but in the next 2 months, you’ll likely make more money than in the previous 8. Use the earnings estimator for reference. And of course we are currently at a bit of a peak in costs. Chances are there will be some drops again as well. As long as you have at least 4TB to share, you’ll very likely get paid in less than a year, but almost certainly more than half a year (unless you use zkSync).
It’s more stable in the sense that it smooths out outliers. But if there is sustained dip in transactions, it will definitely still go down. There are also future changes planned for ETH that will substantially lower the costs. Additionally any one of them could switch to zkSync at any time. Bottom line is they need to still reserve those payouts.
Yes, it definitely takes too long to reach that threshold. We still need to get the big projects with a lot of storage requirements. So IMO StorJ should be focusing on acquiring customers, not (for example) implant x new blockchains for payouts.
I’ve looked at your estimator many times and I am also looking at my own dashboards daily.
I stand by my prediction at current levels. Based on current trends I do not expect 1st payment until around month 14. Of course a small change now could reduce that greatly and it could drop by a couple of months. It wouldn’t take much. But, do I expect a payment this year? No.
I currently have 4TB available across two nodes and don’t have an issue adding further nodes once that space fills. I need to add more drives anyway to the new Proxmox nodes that will be coming up soon… I do have a problem adding a single node of 8TB or larger as i see it as wasting most of the drive life just waiting to be filled.
As I have mentioned may times for myself I want a fiat payment. It is somewhat ironic that storj pays in USD but it is so hard for a smaller SNO to actually convert those tokens to a fiat payment in their own bank accounts economically for small amounts. Please don’t use that z* swear word at me. A lot of things seemed to be planned for that other way to be paid - yet they haven’t materialised.
Well I won’t if you stop talking about the f* word. One of the two is actually an option, the other is never going to happen. You’ve been told why just as many times as you have brought it up, so I’m not going to repeat it again as it’s a just a waste of time to discuss that again.
If you think the predictions are wrong, please feel free to provide detailed info in the appropriate topic for the earnings estimator. As always, I’m happy to make corrections where needed. As it stands, I have no reason to believe your node would deviate from what I have observed based on my own nodes and other feedback. And the prediction clearly shows that nodes make roughly the same amount in month 9+10 as they made in month 1 through 8. I’m looking forward to your feedback if you think this is wrong.
Part of the reason why I won’t make the payment is precisely that I have two nodes that are at different ages and thus are at different held back rates. So everything you could say above can be correct (I’m not disagreeing with you here) but my reality for payment is my larger node is younger so whilst the growth will happen at the same rate the threshold held back will still be higher on the larger disk space node.
What exactly are you accusing me of asking for here? I’m not someone who has ever asked Storj to change token. I also said it is ironic storj pays in USD via the token yet to actually get them is not exactly easy. I have to my recollection never asked storj to pay in USD directly. So bite your arse.
Well that explains the difference then. Yeah, having longer held amounts on part of your payout could extent that period for sure.
Maybe I’m conflating your comments with others who kept repeatedly asking for fiat. I thought I had seen you ask before as well, but I could be wrong. It’s hard to keep track. But I recommend you search for other topics where this suggestion has been made. I can assure you it will never happen. And I don’t want to derail this topic by repeating that same conversation again.
Please just remove this part from your message. It isn’t necessary… And I won’t flag it, but chances are others might. I don’t want your message to be hidden for just this outburst as it contains useful discussion that shouldn’t be tainted by such outbursts.
- I have said may times I have no particular interest in crypto. So , changing tokens is of zero interest to me.
- I have never even asked Storj to pay directly in USD. Please find a post that disproves either 1 or 2.
You accused me of something. I stand by the comment and don’t really care if the post gets hidden or not.
Shame it has to end like this.
And may I just point out that
is factually true if you haven’t asked before… 0 = 0
Have a nice day!
So now you presume to infer what I am asking?
I already advertised I don’t expect a payment in 12 months. I’m still here. My nodes are still running. So what do you presume I am asking for storj to do now? Have i given any actions/recommendations for storj to change anything anywhere in this thread? have I done so in the past - yes. Am I doing so currently - no,.
I’m having a great day actually. Yesterday was my youngest daughter’s 5th birthday. Was a great time and that has carried over to today. In a couple of days from now my older child will attend her first day at school so it should also be a day of celebration for her.
No inference required.
I honestly harbor no ill will towards you. I don’t know what made you think I accused you of anything. You said you wanted fiat payments and you’ve now actually explained that you’ve said this before. That’s all I was saying. No doubt I or others have responded previously with an explanation of why that is not happening, which is what I was referring to. And I intended to not derail this topic by mentioning the same things again. (look how that worked out)
I see no reason why that should warrant expletives in response. And I feel no desire to continue a debate that leads to someone resorting to that.
That’s awesome! Congratz on both. Those are good times indeed. I hope you hang on to that feeling for a while to come.
That does not mean I want Storj to pay me directly in USD. it means I want to be able to get my tokens into USD and into my bank account. They are irrelevant to me until I get them into a fiat form. Because i can’t spend storj or use them for the benefit of my family.
I’ve used them as well. It’s a good option to have on your toolbelt, but they do also take a fairly significant chunk for themselves.
Doesnt seem very positive I still see huge fees, If anything its worse then it was before…Its only gonna get worse the more ETH that gets burned.
I know @BrightSilence you can not hear it again. However Ethereum failed. There are stable chains wich solved all the Issues. Tezos has now 25 % of transaction from Ethereum with fees below 1 cent.
In a short time frame the people will realize it.
The proof of my words you can check here
This is exactly why I didn’t understand it as a positive. Burning ETH is a pretty sure way to push up prices.