Untill the day when Storj says “hey, we’re shuting down the party, close your rigs”, my systems stay on. If any SNO looses trust and prefers to leave, please do; it’s just more data for me. We have too many nodes anyway.
My “Held” amount should be paid to me in August. If not, I’m shutting it down. There is no need for me to use up some extra electricity when I do not really need the hard drives in my machine. I really didn’t mind leaving them there but when I first signed up, the value of a StorJ token was acceptable to me, I wasn’t going to make any money but it should offset a very small portion of my electric bill (1 year ago today it was $0.30). Today it is $0.0607 as of this message.
There are no hard feelings about it, some companies thrive, some do not. I will chock it up as an interesting test. But I do hope I get my Held balance, it could buy me a few gallons of gasoline for my truck 
Here we come again. Shut down NOW. The point of storj is to use already online capacity. Not bring more capacity that can otherwise be offline.
People don’t read, don’t think, and then dramatically post here this nonsense.
Nothing changed about this statement.
Happy cake day.
Chapter 11 =
You will NOT be paid tokens next month.
You will likely be considered a vendor; therefore, you will need to register as a debt holder.
It will be interesting to see how the token equity ranks, given they used ~15 million in part payment of aquisitions, and they other tokens were liquidated for cash (~32 million) and mainly burned as operating expenses and the other portion of payment for the gpu business/etc.. There is absolutely no info on how much and to whom they owe for other than sno services, but undoubtedly they will outrank SNOs. Google will at least not shut the lights off… yet.
I know, I’m purposely $hit disturbing here. 
Maybe they will take this opportunity to petition the court to close out the token, as it’s no longer a supporting asset.
.02 cents on the dollar, will be your adjusted owing… lol!
Julio
“Storj said it filed to resolve “certain legacy obligations” while keeping its business running, and that it expects no interruption to customer service during the process.”
- that looks like they intend to pay nodes as usual.
If they have the cash/token on hand. But the point is, they can (under C-11) now choose not to. Haha, that would be immediate un-aliving, I’m sure.
They don’t even have to the cash to pay a CEO, and perhaps just concepts of a plan moving forward. However I’m pretty sure Inveniam or whatever will be guiding the process to keep what they want.
Restructuring filings indicate they will likely divest or unwind the Valdi GPU unit. However they do say legacy here so it could be the storage-only footprint, we don’t know if Valdi was ever cash positive or not. They might have horribly over paid for it, or it might be the new cash cow and storage is on the block. Either way, the token is going to be whacked to have court ordered as completely unsecured, probably to settle the ‘legacy’ stuff.
2 cents.
Julio
What I derive from this is that they want to trade equity for tokens so they have cash to cover obligations and operational costs. I don’t know what debts the company may have, but it may be related to former partners who were paid to sell their ownership stake under some unknown agreements (Speculation).
I don’t know if a court will agree with the plan given the path to profitability is long. They could order Storj to wind down and auction what assets they have. But there is little to auction off that would result in making creditors whole. It may indeed make more sense to let them continue to operate to try and emerge from bankruptcy and pay back creditors. It will really depend on the plan put before the judge and whether creditors come forward to object to it.
Even if Storj were to be liquidated, the code is open so another team, perhaps the same team, could operate satellites and keep the platform going indefinitely so long as “someone” is able to pay for the operational costs.
The company has pulled a lot of rabbits out of its hat over the years. I tend to expect they’ll do it again and live on.
That’s an excellent attitude and proper summary.
The public side has been quite public, although the private side has been very private. That indeed leads to a lot of speculation.
I’m sure Inveniam knows what it wants to keep and what to toss, and they’ll pony up the op cash in the interim.
2 cents,
Julio
It has been asked already twice in the forum. An answer is outstanding.
Ignoring this question is really bad. Maybe @Alexey can forward it to the team again for clarification.
The thing is, if they don’t pay the SNOs that’s rather not a normal business operation what they had claimed to continue. This question also affects the remaining customers as when SNOs are not getting paid, they are likely to pull out which means customers should backup their most important data before they lose access to it.
I do not have any additional information except already provided. Will wait for the answer as well.
In my opinion the business operations continuation meaning that SNO will be paid, because nodes a main part of the network. We even never missed a deadline. Even on the Bitcoin network, when the transaction could hang for a week before a confirmation.
According to the announcement:
Dedicated channel: community@storj.io — staffed, read daily, with a commitment to respond within [2] business days.
So expecting an answer within 2 days here should be reasonable. Maybe some SNO may ask this question on the provided email address as well. On the other a response to such an essential question should not take that long.
That’s how it should be. If they don’t then there is no more business to operate.
Dramatically? Really? I’d have to say that you maybe are being a bit dramatic here, maybe I’m off base.
I understand the philosophy behind SNO, my primary node is using what is always running and a few extra TiB, my second node I just slapped in a few drives that were laying around. Not a big deal to me. I don’t have any hard/bad feelings about it, I think you missed that part of my message. Sorry I got your whiskers tied in a knot. I will try to refrain from being dramatic in the future.
As for making a little money… I’d think (I could be way off base) that the extra electrical power used just to support SNO should be properly compensated. Even a system that is powered on 100% of the time, it will use more energy performing additional tasks so it is not an absolute no cost to the operator. And that cost is not just in the power consumption of the computer system itself, it also affects the environmental (extra heat) cost as well. A very low cost yes, but not no cost.
I don’t know if StorJ will survive the Chapter 11, but I hope they do. It isn’t just about SNO’s, it is also jobs within that company.
Time to jet, cheers
Even so, someone else can take the assets, the technology, along with ppl that can operate it, the workers, the SNOs. Hypermarkets in my country changed names, rebrand every 5 or so years for “financial” purposes… Trump bankrupted few times, and he rule the world right now…For use and customers that shouldn’t even matter if the company is owned by Arabian prince or Baron Trump, “but the people are retarded”
ok, so people … next day or two here are your levels.
your next STORJ Fibonacci levels should be
step 1, immediately: .0445
step 2, end of week/after weekend: .03
Have fun trading, .. errr shorting? heh.
3 cents,
Julio
P.S. Can it get worse? Umm, yeah absolutely! Wait until payday next month to find out! 
Speculators will always speculate, right?
Speculation implies upside potential, ATM there will be nothing but volatility, and a downward panic trend.
Much like the recent price adjustment there is no evidence of forthought, therefore given the psychology of restructuring, anyone holding bags of tokens will realize cascading stop-losses as it’s a high probability last co-related vacuum zone of tertiary perception. Even if superficial, the average quick research of events for this company indicate a abnormal level gross incompetence, by tripping over themselves contiguously of late.
Furthermore, there has been no communication as to the qualification of management for this task. It’s easy to surmise that there will be no anchor nor any semblance of belief that a restructuring will be beneficial nor even be successful. So in the interim the public utility coin will be undoubtedly hammered, it will be treated as a total unwinding in the interim. There is no defense treasury here and this months commodity buy will be a drop in the proverbial ocean at a ratio of 200:1 of market cap, a mere hourly blip on the radar of any given day.
Could some STOJ insider please advise us when they will be buying tokens to re-distribute, I’d like to place a major Storj Put on Kalshi, and catch that spike. Please signal by using the 0x06177A8C93535b342321E9a5984560b4E37c2D43 wallet. Thanks!
Just so long a Kushner doesn’t get involved with the UAE dudes, I’m good with this.
It will settle down, as after all there are a lot of decimal places in play here. Not unlike Raptorium .. lol.
3 cents,
Julio
So, speculators will always speculate, especially when there is no certain. Thank you for proving that 
We will see
So I get that now the Storj Global Network is profitable, with present price model, operators and clients. And the code base is pretty mature.
The only problem is the past debt.
So if the debt is solved somehow, who takes the helm at SGN is on profit from day one.
That’s in part very encuraging. At least we proved that this model is feasible.
Ok, I admit that today’s forum downtime (I guess to upgrade?) has made me worried for the first time in this thread
Meh.
Carry on as usual and see what happens. Really not worth losing sleep over (for us anyway, clearly uncertain times for the Team and I do feel for them).