Payout: Storj Token prices up 200-300% when exchange rate selected?

Which exchanges?

I noticed some exchanges not allowing me to deposit, only to withdraw storj (poloniex i thnk?)

Does anyone think that we could be paid the AVERAGE price of Storj token over the service period (month) in order to smooth out crazy cryptocurrency fluctuations like this? Just a thought! I mean, I have been providing the service over the whole of the period, right?

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No, you can always sell it immediately after getting the payment.

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We tried in the past, exactly because of such feedback from the Community.
But when the average for the payment period were higher than a current value most of farmers (we call now SNO) were disagree on this payment process and we finished to use the average and started to use a current value on time of payout. It work fine for everyone. Hodlers can HODL, who in rush can sell immediately.

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This choice (sell immediately or not) is important IMO. If Storj decides to have an account from which node operators can withdraw their tokens (to reduce transaction count), there should be an option to accumulate the balance in USD (“if you paid me like before, I would have sold the tokens immediately”) or in STORJ (“I hope the token price rises”).

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I agree, that would definitely encourage more people to use fewer transactions if the transaction isn’t tied to the moment you switch currencies. I might even just set it to storj tokens and only request a payout when I want to actually use my tokens. That would save a ton on transaction costs.

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@Alexey, Thank you but I don’t understand this:

if the average value over the whole month was higher than the instantaneous value at the end of the month… SNOs did not like that? Can you check your wording and/or explain this a little better? I think you mean:

If the average were LOWER.

I see how it is a tricky problem: some people assume that their crypto will generally increase in value over time and so want the payout shifted latest in time/end of month to get the highest value.

But wait, here, the higher the value of Storj the FEWER tokens we are paid -it is a logical inversion (I mean in predicate logic, not that it is illogical and I’m criticizing it). So maybe @Alexey was right with his wording.

edit
Let me say that I LOVE THE IDEA OF NOT BEING PAID EVERY MONTH to reduce number of transactions and transaction fees and just let the balance stay in Storj.

I mean the price of the token. If you would earn $10, but the average price was $1/STORJ, and when the price has dropped, but average is still the same, you will get less tokens than if were used the current value.

You people mix up two totally different things.

Getting paid in Storj and stock exchange speculation. The are to be taken care separately and have nothing to do with each other.

And @Kevink you also could have lost 500$ if you had holded them. Stock exchange speculation = gambling.
So don’t bother the chart going up or down. Just make sure to directly exchange your Storj tokens into a stable-coin or a fiat currency.

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Let me try to work through your example:
Earnings: $10
Average Storj token value for month: $1
Storj token value on last day of month (has dropped, per quote below): $0.50

I would then end up with more tokens of the same value, right? Let’s make sure we can agree on that?

That’s what I mean by inverse relationship. To be clear, I’m talking about QUANTITY OF TOKENS. Value is always equal to that of the services my nodes have earned and delivered AT THE TIME OF EXCHANGE/PAYOUT. My point in posting this question is the the exchange rate varies wildly, as with many cryptocurrencies.

With average price you will receive 10 tokens.
If we use the price on date of payout, you will receive 20 tokens.

Same boat here… I held all my STORJ for the whole year 1) hoping price would go up and 2) didn’t have an exchange that I liked (felt safe using).

Then last month they listed on Kraken so I moved my 5000 STORJ and sold at 18 cents for a $300 capital gain for the year… If I would have waited a couple weeks it would have been a $3000 capital gain if I would have sold in the 60 cent range.
So :disappointed_relieved: sad.
Shhh haven’t told the wife that part either shhh

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Here we are, 4 days after the payout. How much has the value of Storj token decreased? $0.65 -> $0.45?

I still have not received them that I could have transferred them to some other coin or fiat.

I would be happier if my “balance” just sat in Storj’s systems and I could elect a payout when I was ready. Like I said - this is exactly the example that I was pointing out: peak at the instantaneous payout, then crash. :frowning_face:

But for those of you who sold your tokens earlier, there’s always this tweet to make you feel better: https://twitter.com/gregschoen/status/70261648811761665?lang=en

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it is good that it droping before payout, then we will get more storj coins, if drop wold be after we get coins this is dramatic. But his way it just will have space to rize

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It’s not 4 days after the payout. The payments for August have not happened yet.
The exchange rate will be used at the time when Storj sends you the tokens. If you sell them immediately after you get them, you will get the USD vaue (minus exchange and transfer fees).

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Oh! I read this to be “within about an hour of the end of tha pay period” even if it takes a few days for the accounting systems to process the payout, which I what I was referring to above. Yes, if it drops right before payout then no harm done, or less harm (more tokens)

I thought they used an exchange value then set the payout systems to work on the process of performing the payouts.

I do not know how often the exchange rate is updated while the payment script runs, but this would be counted from the time of the first transaction out and not from the end of the month.

the accounting is done for a full calendar month, but the payout scheduled is something like 10th or within the first two weeks. and i’m sure if storj needed somewhere there is something legally binding that allows them to expand the payout range, in case of trouble.

so yeah you feel cheated that storj dropped in value because you wanted to sell money you haven’t gotten yet… how many things does actually pay you within 10 days of your actually earning the money… your job maybe…

i would very much like a payout button… but i doubt it with be instantaneous, if it can payout the same day would be nice :smiley:

on another note, if you got paid during the peak you do know you would have gotten less storj… so really the price dropping before payout is to your advantage…

so if we had a payout button… it shouldn’t be pressed anytime soon… :smiley:

Some pumping needed before payouts

Wrong. Dump before payouts so the price is as low as possible, so we get a lot of tokens.
Then pump.