Minimum Threshold for Storage Node Operator Payouts

Some payments for December seem to have been made:



around 0.0037 eth (~$4.50 at the time) per transaction (100 gwei)

What’s interesting is that according to storjnet.info, around 500 payments have been made (so far, there could be more in a few days) compared to ~5000 for the previous month so this has saved a lot in terms of transaction fees.

This is not official, just searching on etherscan.io, so please correct me if I’m wrong.

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I received my payment last night.

So, if my math is correct, operators will have to have earned at least $18.00 USD in order to receive a payment for January.
I calculate that my nodes will have accumulated enough earnings to get paid in around 8 months or so, assuming the transaction fees stay the same which we all know won’t happen.
This is coming from an operator running large nodes which are barely accumulating 400GB of data per month.
In my opinion you need to go back to the drawing board and rethink this carefully, before you loose three quarters of your node operators.
Even large node operators will have trouble getting started with this new model, and you leave no opening for small node operators who will be getting paid once every year or or so, if at all.

Granted it’s not all about the money, but anyone starting out will find it almost impossible to ever get paid.
I am not expecting to get paid this month, judging by what I see on Etherscan.
This is something that has been dropped on all of us without even a month notice.
I think Storj should pay all operators for December, starting this new model next month. This would enable operators to consider their options.

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They’ll find out, scream ‘SCAM’ and leave.

After reading this I realised at $4 Gas price I won’t get paid this time as well. :thinking:

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And honestly for good reason. If a company decides to change their payout scheme mutliple times without notice and agreement from SNOs, it will quickly become untrustworthy.
The only reasons I have no trust issues with STORJlabs is because I have been around for almost 2 years and they always paid reliable, they are a public company and therefore no anonymous group that can just vanish but I already get $30-$40 so all that doesn’t even affect me…

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At least to perceive it like this. I mean let’s look at what they’ll experience:

  1. Low traffic at the beginning
  2. Long vetting period
  3. Large portions of first earnings are held back
  4. The tiny remaining amounts are not getting paid but rolled over to unknown time in the future
  5. Disk crash = Total loss, start over, held back amounts are lost
  6. Graceful exit not possible = Money lost
  7. Satellite go down = Money lost (at least potentially, it has happened to me)

I emphasize that it IS not a scam, but new SNOs might get the feeling it’s scammy.

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I’m not sure this is actually the case. In fact, effectively there is not difference. If the costs are more than 25% of the transaction value, it would be a waste of money to move those tokens from your wallet to begin with. So the only difference would be that it’s now locked with storj instead of locked inside your own wallet.

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Are your nodes new?
December was my 8th month and I’m now hosting 9 TB (out of 14) of data with a bandwidth usage of 1.4 TB last month. So maybe you’re too pessimistic.

ETH network congestion is a serious problem for many ecosystems. There will be a better solution one day, but for now, this one should do it.

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Has it? I guess you wanted write “it hasn’t happened to me”

I am not saying I don’t trust Storj to deliver, but for a 5-month-old node to only have 1.67TB of data and be pushing just over 100GB upload at the end of last month, I don’t think my misgivings are unfounded to be honest.
Maybe it’s my node locations, which are in the UK.

as i understand from @jocelyn announcment, Storj mooves to account system, where SNO can withdraw money when SNO want, and pay transfer price themself. It is not posible to make it fast, as it need time to make it secure.

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From what I can see you’re out by a factor of two. The minimum STORJ paid out (except for 38 transactions on 07/01/2021 22:10) was 104 STORJ. At the time of the transactions this was worth $36.46.

My payout should have been $24.18 and didn’t get made.

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Well, I bet you’re not impressed.

just wait til Ether go up, it make up and down all the time today. All crypto go this way, some just go all the time downs.

A promise from Storjlabs to ensure that everyone gets at least 1 payout in say 3 months regardless of tx fees / amount would go a long way to counter this. Or at least a manual “withdraw” request.

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I understand the reason behind it.

However I have also received payouts for every month since I become an SNO, and received just 0.00487904 STORJ ($0.002) in my first month. I also concur with @jammerdan’s thinking:

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The held amount from the Stefan-Benten satellite is still showing in my dashboard. Can’t find it in the payments.

The issue I have, is that I have been getting paid until now, when I suddenly find out that I won’t be paid now for months.
Consider this.
You start a new job 5 months ago, everything is going well and you are slowly being promoted as it were, what with rising payments each month.
Suddenly, you are expecting to get paid and your boss comes to your desk and informs you that the company will hold on to any earnings you accumulate until you’ve earned $100000, which they estimate you might do within 8 months.
As the employee who has demonstrated proof of work for months now with no problem, you will be calling your solicitor the moment you get home to prepare a court case against the company.
Now, I understand that this is a little different, but effectively it is the same, with us as the employees and Storj Labs as the boss, who just informed a large number of us that we aren’t getting paid right away for the work we put in last month.
Since we are as Storj said, the backbone of the network, surely we should be treated as such. We should have been consulted, period.
Now, instead of a large number of impending law suits against Storj, they will instead suffer a broken back, what with all the operators planning their escape right now.

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If Storj labs would be sending out IDK how much thousand payments and each is like a few dollars imagine paying around 10000 or more dollars for just transaction feed. I mean it skyrocketed in the last few days so I mean they took it as a precaution in my opinion

But that is just my opinion

And yes we are the back bone of Storj.io an yes we are like employees. but like in the COVID Companies and governments had to take drastic measures it is the same here. there is no point paying your employees now if you will be bankrupt in few days because you spent your money on transaction fees. that just wouldn’t make any sense.

I mean I’m not happy either But it is for the greater GOOD

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I get what you are saying, I don’t know about where you are in the world but in the UK employees recieve 80% of their sallary based on our furlough scheme, but there is a simpler solution we have all been scating over.
Storj could simply opt to pay less gas for transactions. I mean, would it really be that bad if transactions took a little longer to complete, if everyone got paid as they have been in the past?
I personally have sent money to a friend but chosen to pay less for the transaction than the default price, and the price is only going up because people aren’t actively working to lower it by paying less.
Wallet creators should start by lowering the default gas price.

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