under my total ignorance, I followed the advice to move to zKsync, and now I find that I cannot move them to any exchange, there is still nothing in L2, I don’t know what it is, what I do know is that I tried to move them from zKsync to Binance and they got lost on the way, despite paying the commission, they never arrived, that if, the transfer was made and they charged me almost 7 storj, luckily, I only tried with o.o1, so I don’t see any sense in it If it is because of the commissions, the network could not be moved from eth to cardano, or chia, which is coming out now and its commissions are bordering on zero, I think something like, 0.0000000001 chia approximately, since yes, for 60 storj, approximately in a year, I have to pay 45, for approximately one dollar a month, you do not pay the electricity rate, even though it is solar, the wear and tear of the 24/7 equipment is much higher, I have approximately 5tb of storage in storj, they leave it to me in zKsync, approx 10 storj, I can’t move them anywhere, I commision them nes are higher than 10 storj, with the same space I get 0.03 chias, which I can take to exchange and use them, make conclusions. postscript, the answer for the future is always to expect to see the corpse of your enemy pass by, even if you are eaten by spiders.
borrado. era una copia del primero
Why do you say storjlabs is not being fair with SNOs? They covered eth gas fees when prices went up and then paid up to 25% on top of what they owe SNOs to distribute the payments. Now storjlabs is giving SNOs an option to withdraw whatever amount they want while paying eth gas fees. And storjlabs is still willing to cover their part of gas fees by offering a 10% bonus.
Trying to optimize payouts is natural, no one would like to spend 25% on top of the bill to be able to pay it.
In terms of fairness, if they say you get $20/TB of egress, the SNO should be able to get $20 per TB of egress. It’s STORJ’s problem how to ensure the SNO gets their payment. Otherwise, they should advertise $20/TB of egress minus fees and that “your mileage may vary”. It’s not like my employer is charging me for the fees they pay to the bank to deposit my paycheck.
STORJ seems dead set against fiat currency payments even for those who want them and don’t mind the tax consequences. They are a US based company and could easily make payments to a subset of SNOs in USD and probably in a few other currencies to a number of other countries through Xoom or equivalent services. I thought STORJ is a distributed storage project, not a cryptocurrency project.
For truth in advertising they should say - we (plan to) pay the STORJ equivalent of $20/TB of egress, $10… etc to an L2 sidechain address with a 10% bonus; your L1 or fiat currency equivalent amounts will vary depending on the state of the ETH network and exchange rates.
Your employer definitely never found himself suddenly having to pay 25% on top of your paycheck. And storjlabs never said you’re getting $20/TB, you’re getting $20 worth of STORJ token and exchange rate is determined at the moment of payment.
I can join people blaming storjlabs for not trying to solve the problem by technical means, like using mass payment contracts or using gas token, or moving to a different blockchain. I really dislike zksync as it’s just useless, but with 10% bonus it can cover my fees so I’m okay with it.
But when it comes to payment handling, I see it all as a fair deal. One should not expect to get paid $5 when tx costs $10.
I see your point, and the reason my employer never found itself having to pay 25% extra on top of the paycheck is because they used a reliable financial transaction approach that does not suffer from the vagaries of emerging cryptocurrency markets. And you’re right - the terms say SNO get $20/TB worth of STORJ at the current exchange rate. The devil is in the details of what “getting” means. For me “getting” means getting them in a way that allows me to exchange them to USD and actually get something close to $20 in my bank account. However the definition of “getting” is now drifting to “having an electronic record reflect a STORJ balance equivalent to $20, but such “balance” cannot be feasibly converted to anything close to $20 in actuality”
Anyway, STORJ is in a difficult situation because their business model relies on global coverage and they took a bet at achieving that by making payments in cryptocurrency and now they are buffeted by the ongoing storms raging through the cryptocurrency realm (forgive my poetic language).
I wish them all the best - they decided to live by crypto and they might die by crypto. I hope not because the crowdsourced storage idea is cool. For myself, I’m planning to admit I donated some money and effort to STORJ (on balance) and gracefully exit next month (though I have to admit the temptation is there to just pull the plug).
i’ve been running 18 months as a SNO and if i had a button to choose payouts i might not even have pushed it yet… hell i would even pay my own fees…
thats 18 payouts right there which StorjLabs could have saved…
i think maybe the approach to trying to keep paying people and taking on the fee’s is a mistake.
Sure it sucks to pay fee’s, but ill wait until i feel the time is right.
and a thousand people can have a thousand different criteria on when that is and have a thousand brains to put towards that.
people feel upset because they don’t feel like they are in control.
StorjLab might be trying to help, but i think they are only making it harder on themselves, because people behave irrationally…
it doesn’t make sense that paying our own fees would make us less offended, but then atleast it would be our choice which is most likely what matters most.
hate to have to say that tho… because i kinda like my fee’s being paid lol
Ok, so I have an offer for you. You could get exactly that. Accumulate your Storj income while not paying anything until you hit a payout button. Storj wouldn’t have to pay the high transaction costs.
And I’ll do you one better, despite you not having paid transaction costs yet and Storj not paying the high fees, you already get cryptographically guaranteed ownership of your tokens on the Ethereum blockchain. Hell, I’ll even throw in a 10% payout bonus for you while we’re at it. Only minor downside is that hitting that payout button could cost you slightly more than a normal ERC20 transaction. But the 10% bonus should easily cover that with extra to spare. Especially if you’re planning to wait until that payout makes sense anyway.
I think you see what I’m getting at…
Not quite true actually. My contract with Bechtel said that they would reimburse any expenses in terms of any increases in tax in the country where I was hosted (Canada) relative to my home country (Australia). So, when Canada put up the tax rates it meant Bechtel paid more back to us. if Australia had put up the tax rates, they would have paid less. It meant Bechtel paid quite a few thousand dollars extra over the course of 1 financial year.
After 8 months I received a payment of $20 to zksync. A 10% bonus to that most definitely doesn’t cover the fees to move the tokens. So I completely agree that Storj needs to be more visible on the fees of being a SNO.
The question was: what do we think of the proposition. My reply: I do not like it.
Why:
(the TL;DR version):
I want payouts in fiat. The storj project is great, the STORJ token is a nuisance.
The first part means that only the whales will get regular payouts on L1. The others (new or old SNOs), will see the payouts become extremely infrequent, like once a year or so.
The second part I don’t like because:
- L2 is opaque and immature (any crypto is immature, but this is one step up again). You’d have to be very dedicated to be able to transform L2 funds into fiat.
- the 10% fee will only benefit to the whales: for the smaller payouts, those 10% will not cover the fees.
To resume: this proposition will only benefit whales.
Somewhat longer explanation:
I started early (over 2 years ago), and in the beginning I hovered around $60/month on my one-subnet setup. That was mainly due to the large amount of initial (test?) data that was pushed to the SNOs. That period is over. Data growth has been extremely slow this past year, and inbound volume has been slowly declining. I have now fallen under the payout limit. When I hear that new SNOs get around $10/month, I feel like that that will also be my case in some time. So I put myself in the position of the smaller SNOs. This proposition is not made for the smaller SNOs.
To me, the real question is: is the storj project viable? Do they make any profit? Because if they don’t, all this is moot and storj will be shut down soon. I’d like to see business reports.
I wold prefer Payout with witdraw system and I agree to pay withdraw price, as for me i pay transaction fee from wallet to exchange, so i do not see any problem when I withdraw directly to exchange when i want. So Storj can save a lot of money on transaction fee. People will have control over they money and decide when to withdraw it. It will solve all problems with that.
This is what I think:
Storj gets paid in fiat (USD) by their customers.
Storj pays SNOs (and ETH transaction fees) with STORJ token.
For a startup it would also be common to pay employees lower than usual but offer stock options as compensation.
So not all costs really cost them money in terms of USD and they could always (of course not infinitely) sell some more STORJ or reduce expenses by reducing test data.
That is about the tokens. I was talking about a real financial (annual or quarterly) report.
They started in 2014, so that must exist.
Yes, these are tokens reports. But this information can actually answer on your question. You need to compare the previous and the latest. It can give you at least information when we run out of money.
It not work like this, According to token report, Storj buy back tokens also, so they spend real money for that.
There is
Line 10 is to report any repurchases of STORJ from the open market.
In the token balance sheet, but it was 0.0 for the last 2 quarters. I haven’t checked other times.
Yes indeed, a lot of interesting info in there. Noncirculating supply is not a solid indication of the financial reserves though: suppose one of your VCs wants to pull out, and you have to dump large amounts of tokens, then the tokens take a dive.
The report does show some insight in the operating balance though. I’d love to see “net network operations” detailed.
But this is all off topic.
Which is exactly why I don’t understand Storj actively recommending a 500GB node. With the zksync activation fee plus the transfer costs they don’t really have a chance.