Payment option, YouHodler

Hello everyone,

With the recent payment option debate, I was wondering if the StorJ community would consider HODL StorJ tokens to circumvent some of the gas fee’s as well as having a cheaper overall option to convert, store and earn interest on or similar websites.

As converting StorJ and even doing the payments is expensive providing liquidity to the StorJ network while HOLDing StorJ could be interesting. But as I am only 1 person I thought to drop a topic here and see if this would be interesting as SNO as well as StorJ itself?

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It looks too good, do you use it?

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Yeh I use YouHodler and BlockFi as holding accounts but YouHodler has the biggest selection of coins and I thought it would be nice if StorJ could be listed there as well or at least eventually.

You act as a bank providing liquidity in the DeFi space in short. And get 5% roughly depending on the coin per month. And 10% ~ 12% interest on holding stable coins.

From what I can tell their business model is to make money on bad loans with a massive interest rate, yet they still expect you to put up a massive collateral for those as well. They take non of the risk and all of the profit.

Now I understand you’re talking about the other side of the business, but I wouldn’t want to provide liquidity to a predatory business model like that.
I’d rather just exchange for coins I can stake instead. But for now I’m keeping my storj in my wallet and betting on those getting more valuable.


The point being for HODL crypto is to simply hold the Crypto in a wallet I do not take loans I just put in some funds and the rest I added through mining. The same idea, in general, would be for StorJ to just catch interest without having to convert to ETH and wait for prices to become higher. No pumping and dumping either you get to a certain level in assets and then you can use the monthly interest to cover the bills.

The liquidity you provide is mostly for trading, loans I believe are only a small part and I would not risk loaning and then 10 x leverage on BTC etc. It is not wise to take that much risk. You can for instance see with stable coins as you hold them you provide the liquidity to 1:1 each coin as a whole.

I want to hold when possible hold in an savings account onto StorJ and HODL them. If i keep them in my regular ETH address i get nothing out of them nor can i stake them. Hence me asking if StorJ could also be added down the road but StorJ would need to work with them to do so i guess.

We need to do something. The rate at which Storj is depreciating makes it totally untenable to hold. It’s lost over 30% in last 3 months and continues to lose value.

Nobody needs to do anything. Storj is a utility token. It serves its purpose well. Gambling on a value of a utility token is a rather questionable pastime.


Not sure what you are saying. Are you suggesting the whole thing is a questionable gamble and we shouldn’t be storing Storj?

3 months ago it was at .40$ now its at .43$ thats not a loss at all

i noticed price goes up sometimes at end of month (this month and 2 month ago) but last month it was down to .21$… if bought some at that time it would be easy double money now…

im starting to sell when price is over .4$ and will buy next time near .2$ (no financial advice for sure :wink: )

Blockfi is currently undergoing bankruptcy proceedings, I would not recommend anyone use any of their services now.
I am surprised that supposedly any of their services are still working at all. Afaik people who had stored any crypto on Blockfi will be lucky to get a fraction of their balance back. Please be cautious with centralized services where you do not hold the private keys yourself.


good call, i would never trust any service to get me more money, especially in crypto they can run with ur coins and u cannot do anything

Storj token only exists to facilitate payments. That’s it. It’s a payment instrument. It has nothing to do with the value of the company. It’s not a mean to invest into company. It’s just a very unstable form of currency at this point.

If company was paying you in potato chips — would you be hoarding potato chips?

Of course you can gamble on anything. Temperature at noon tomorrow, storj token price, a bunch of outcomes in a casino.

i agree with most what u say but not this part, ATH of storj was 3.91$ 3 years ago, maybe it gets near that again sometime but potato chips are a really bad currency compared imo also potato chips price will not go up 100% or much more maybe i guess

Potato chips have inherent value (they’re edible, they provide ~4600 kcal per kg, equivalent to 64 ml of crude oil, or 0.44 USD by the current price of crude). They’re also somewhat durable (shelf life of 6-9 months), and divisible (you can break a chip into smaller parts). I’d say they’re not that terrible.

FWIW potato chips are not currently undergoing bankruptcy proceedings


That’s a funny conversation about potatoes chips…
However, if we return to STORJ tokens, it’s more like a gift cards, but sometimes they have a great (or less) value…

So… Storj team, do you have an ETA on potato chips payments for SNOs?
Whould it be Storj flavored Pringles? :yum:

I can see the item in the Stor(j)e but it says OOS.