Major Bump to Ingress Bandwidth

The only thing they could do is to increase their token reserves if the token price is low. But I don’t think they do that.
Also you can buy StorJ and deposit it here to pay for the storage expenses. Plus you get a 10% bonus for that (if they still have it). So some coins are flowing back

I wonder how long storj can pay SNOs from pre-minted tokes? How much is left?

You can take a look here:

1 Like

So only 8 percent left end of Q3 2024? Seems like a nice opportunity for speculators coming soon… :money_mouth_face:

When Storj buy tokens from the market, it doesnt matter what price they are at, as they pay everyone the value in FIAT. So, if they intend to pay $100,000 they will pay that same amount regardless of what the price of the token is. If the token is worth more, they buy less tokens. If the token is worth less, they buy more tokens. Because the majority of these tokens get sold/converted right back into FIAT, it tends to have little impact on the market price of the token.

7 Likes

True.
But I still hope there will be more demand and a bullish push for the Token, but thats pure Speculation :wink:

It goes towards expenses for the company + bank.

No it doesn’t, see my previous reply. The price is completely and utterly irrelevant to any discussion, I cannot stress this enough.

See the first sentence in this reply.

Storj (the company) will eventually use the bank reserves to buy enough tokens for the next payout. The result to Storj: more profit (price goes down => SNOs paid for X, Storj (the company) buys back the tokens for X-$0.001). The result to SNOs: a fraction of percent lost per month (= nothing worth discussing about)

My previous reply clearly stated the one and only use case for Storj (the token): to pay the SNOs. You seem fixated on adding an imaginary use case for price speculation. There is no price speculation. Do not trust a single word coming from anyone saying “save your payments because the price will go up and to the right” or “don’t sell now, sell two weeks after payments” or “look! the reserves are running low!!!11oneeleven price is going to explode!!!”. The most (as previously stated by someone else) that Storj tokens should live in your exchange’s wallet (never use your own wallet) is a few minutes.

4 Likes

Clients can also use the Storj token to pay for storage service, with 10% discount. So there are 2 use cases for now.
And the history tells us that there are pumpers and dumpers that make the price go up even to 3$, or down to a few cents.
So advising against hodl is bad as much as pro hodl. I stoped giving investment advises. Nobody has a magic crystal ball to see the future… yet. :grin:

1 Like

Storj also used the token to aquire Valdi. So we have a third use case… :wink:

1 Like

If you would add the possibility to buy gift cards from Bitrefill it’s another one.
However, the primary usage for STORJ tokens to pay for the service as a customer (and yes, have 10% bonus on top) or be paid as a supplier for provided storage and egress.
And as many said, the snapshot price of the token doesn’t matter - all calculations in USD anyway.

1 Like

I’m not familiar with Bitrefill, but I simulated a buy order and dosen’t show Storj as payment option. It’s a joke? Or you can realy use it? Or maybe it’s restricted for EU countries?

The approach was to swap it for something else that you could use at bitrefill or BitPay

But why bother. Just swap to your local currently and send to the bank account.

1 Like

There is an option LI.FI Pay, it allows to select many tokens on many networks.

1 Like

One should be very careful about spread, if using L2. It can get silently very expensive very quickly.

2 Likes

1 Like

1 Like

You know, I saw some pretty high ingress on some of my nodes yesterday. But ONE NODE was left out with seemingly lower ingress than other identical nodes. (like 14GB on one day instead of 30GB)

I realized it’s config.yaml file was set with storage2.max-concurrent-requests: 20 . while the other nodes were set to 50 or 100.

Turns out the log showed a lot of “too many requests” rejections.

So my lesson learned is the storj ingress can be bursty and setting that value too low can cause you to miss out!

2 Likes

It’s better to do not set it at all.

1 Like

Who would have guessed that limiting ingress will limit ingress.
I think this value is just meant for potatoes. So if your computer is powerful enough, just set it to unlimited

4 Likes

If one is forced to run iSCSI or.. ewww NFS <v4.1, max-concurrent-requests would probably be helpful.
2 cents,
Julio