Yeah the STORJ payout beats competitors (ref burstcoin/filecoin). I think the train has been and gone on the earnings for STORJ and serious players, which STORJ isnt’ clearly suited for. If you were in on the early days, you would have got big payouts, when the STORJ coin was low-price and tokens being pumped out all over the place due to load testing etc, being banked until a later date when its inevitable that the price will increase… Maybe the STORJ coin will increase in value later on, but there is no way to tell these things for sure. Truly is a gamble.
Spoiler alert: Last I checked burstcoin mining made less than $0.25 per TB per month and dropping…
Flawed economics are at play there, I’ll be checking them out (and Chia). Another great concept with ecology in mind too. It does say on one article though “it suffered a significant price decline after it was delisted from Poloniex” - A black swan event of sorts has shafted it then…
@JimboSlice The STORJ token is utility token for simple transfer of USD value between parties, it’s not shares, securities or investment into the company.
As a user you can pay for storage and bandwidth in STORJ tokens, they will be converted to USD with a 10% bonus to your balance.
As a supplier of resources you will be paid in USD converted to STORJ tokens on send date.
All calculations are made in USD.
Although I agree on the theory, in practice this isn’t the case anymore because of the ERC-20 transaction fees these days. Unless there’s a way to convert Storj to USD with no fees I’m not aware of?
As a reminder, we don’t participate in trading competitions, airdrops, or conversations that could be interpreted as speculation about the price of STORJ token. As you may know, Storj Labs aims to be leaders in compliance and governance, and our current policy and approach is to avoid these types of activities.
True, maybe Storj Labs will consider implementing looping payments, which is similar to zkSync but also provides a decentralized exchange on L2. Haven’t looked into it much myself yet, but that would at least allow you to trade it for other tokens. Including USDT ERC20 if you’re looking for something stable.
Pretend there is no storj coin. You are a landlord renting out data. That is all. No mining.
The sole reason for storj to exist is that the payments are so small that using ach transfer or PayPal or any other form of payment wouldn’t work. So they made their own crypto to facilitate low cost payments to bode operators.
Decentralized storage had never worked in the past due to the inability to pay small operators.
The investment you are making is in your nodes reputation. So that if/when storj gets more customers your node will get a lot of the data, and you’ll start making better money. Then you can upgrade your node with more space.
Right now I’ve made ~ 5k usd from running a node for about 2 years. I’m a trader though, and held the coins waited for the inevitable alt coin season to sell.
My node is 16tb, and makes $65 per month. Server is from a dumpster. Hard drives are from a dumpster, the only thing I bought was an unraid license. Keep the server in efficient power scheme, the power costs are negligible.
I plan on merging the node with the next computer I’m building for myself to make things more efficient since the dumpster server, while free is a bit overpowered. Also loud.
I saw that tardigrade has been rebranded, got newsletter, will have to fully get myself up to date on matters. Big changes are these in a matter of moments lol.
