Not knowing much, I asked AI …
Instead of wiping out the $STORJ token holders (who act similarly to equity holders in the crypto world), management wants to offer them real equity (shares) in the new version of the company. If the bankruptcy court approves this, it breaks the standard rule, turning crypto token holders into corporate equity holders.
Am I supposed to register somewhere to get my share of the new company alongside the err creditors?
Phase 1, collect underpants:
STORJ | 24h Range | $0.04569 – $0.04808 |
Target hit, .04569 … well almost, that was an 18% drop since my last post.
Now dead cat bounce! Weeee.
PHASE 2:
______________________.
PHASE .03:
Prrr-awwwwfit!
Well we’ll just have to wait to see if there’s a payday or not, won’t we.
If not, next station is breaking that .045 resistance and stabilizing above 3 cents.
.02 cents,
Jullio
I think it would work in a different way:
If company doesn’t pay SNOs, I am out, and I am sure many more people will follow suit. Folks can of course do charity and run for free without being paid, but, I’ve seen my fair share of scams through the years, and I’m not participating in another one.
Pay me, I will run for one more month. Don’t pay me, storj dockers gets shutdown and I’m removing the disks. Simple.
Storj are not a scam and your inflammatory and puerile post doesn’t show you in a good light.
They’re a business. If they fail they’re a failing business and failing businesses seldom end up paying all creditors.
If you’re so incensed then there is nothing stopping you quitting the project. You and I know there is a pretty significant chance that we won’t get paid this month, but please be mindful that there is a whole team of people currently fearing for their jobs. Don’t insult them.
I’d say @ACarneiro is 100% right. I’m not an employee, I’m a contractor, just like any other SNO. I wasn’t paid when I came here 
. I just wanted to help people because I had some problems that I solved, I have the knowledge, and I wanted to share the solution with others so they wouldn’t have to. And I continued helping others until I got noticed.
I’m not encouraging anyone to do the same; you can leave, but we all hope this ends well.
I hope so too. I’m happy to have provided SNO services so far. I still haven’t broken even on my hardware investment (even though it was only a few extra parts and disks to add into an existing server). But at the end of the day, this is a service, not a charity.
As @ACarneiro said in the post above, Storj is a business. SNOs are essentially businesses too. We’re not here to operate as a charity. If the parent company stops paying us, we have no choice but to leave.
@ACarneiro My post isn’t inflammatory; it’s simply reality. It doesn’t need to “show me in a good light” because I couldn’t care less about that. If the company never recovers from Chapter 11 bankruptcy proceedings and ultimately collapses, then there won’t be much else to say beyond what I’ve already said in my post.
So, as I see it, the company has some debt to be paid.The court must rule in favor of the debtor to get his money back. This can be done in 3 ways.
It looks like they gone for no.3 or at least they try, and search for solutions that will satisfy the court/debtor, aka paying the debt in some agreed time. After the debt is payed, the conpany will continue it’s upward trend. So this is just the valley that we must pass to be on the next wave.
PS: Now I saw the main announcement. It seems they went with no.1.
If they could pay their dept in time there would be no reason for chapter 11. I guess Inveniam took Valdi away from storj and then opted for 1 to get rid of the storage business.
Once again someone has crystallized my thoughts entirely.
2 cents,
Julio
For me too buyout means Inveniam will sell Storj as “restructured” company with its
focus on Storj’s original business proposition and has continued to support Storj throughout, and it endorses this reorganization as the right path to a sustainable future serving their core clients, and ownership by the management team, decentralized community, Token holders, and potential investors.
This could be understood as:
Of course this is just speculation but this is a fact:
It’s all theory and speculation but this is not how you treat something you appreciate and value and want to keep.
YES, EXACTLY — BINGO.
I’ve had a post removed/suspended, so everyone be aware.
Julio
Well to be fair, Storj people have denied these speculations:
So we put it as speculation only. Time will tell.
Man, I saw this dawnfall comming like a year ago, but the moderators denied it. Maybe they were in the dark too…. Anyway, it’s a pity, the team created such a beautiful code/project/service, we have such a nice comunity here, and I have more posts here than anywere else. We’ll see how this plays out, but I don’t have much hope for the future of Storj.
The greatest tech is not sufficient. Not even a prerquisite or guarantee to success. You need the right people who do and are capable of doing the right things.
So my storage bill jumped significantly this month, and in the process of reminding myself that the per TB price jumps had been announced, I discovered this news. 
I am an end consumer doing personal backups – I am not a node operator or someone versed in crypto STORJ tokens. I jumped through hoops to buy enough STORJ tokens for many months of credit balance (forgetting the huge price increase) to avoid the $50/mo minimum (my first foray into crypto of any kind) – only to see that policy reversed/undone. While I’m glad the policy was reversed certainly, it sure made this user have to go through a lot of agony for nothing.
And now it seems like the company is at risk? Am I understanding correctly? Is my credit balance that my STORJ tokens bought at risk? Should I be filing as a creditor in the bankruptcy case? Should I just simply be throwing in the towel (again) and going to B2?
Cmon folks – for we small guys trying to use this cool distributed storage, this seems like utter chaos. If there is an FAQ somewhere explaining the impact on the mere mortals, please point me at it.
Your data isn’t at risk, and Storj continues to operate as usual—that’s the main benefit of using Chapter 11. Since you pay with STORJ tokens, the minimum monthly billing doesn’t apply to your invoices. However, you’re right, the new prices are already in effect, except for customers with special contracts; everyone else will be charged the new prices starting July 1, 2026.
I wasn’t asking for confirmation of the price increase.
I’m asking if credit balances purchased with STORJ tokens are at risk. The 10% bonus when using STORJ tokens might have still gotten me to take the leap – but had I known Storj would immediately reverse the $50 monthly minimum policy, I wouldn’t have wasted a HUGE amount of time opening an account with an exchange and learning how to do my first crytpo transaction.
This stuff does not cause warm fuzzies. I really like the distributed nature of Storj and the community behind it, but storage is now slightly more than B2 (and egress is MUCH more). This instability needs to stop or it’s going to scare away this customer at least.
The moment you deposit these tokens in your account you will see a USD balance. So the only risk you have is the time between buying and the deposit into your account.
The network is stable. No customer data is at risk.
i’m aware the tokens were converted to USD upon deposit. That wasn’t my concern. When a user like me reads that the company is in bankruptcy, that is obvious cause for concern. I am asking if my USD credit balance is at risk should the company go under completely. Or do I need to get on the list of creditors that will get paid out first somehow.
Yes, I understand bankruptcy does not necessarily mean that a company is folding. But neither is it a very good sign of stability or reliability. There’s been a lot of messaging flip-flops and chaos over the past year that do nothing to increase trust.