Does it make sense to invest in a Storj token in the hope of multiple growth? How does the community assess the token from the point of view of investment?
It is utility token, and Storj Lab cant suggest anything, otherway they wil have problems with SEC. If you make investment, it is only your decision, only you responsible for your money, no one guarantee that token price will go UP.
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Username checks out.
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@Vadim happens to be a very helpful and well respected member of this community and provided you with useful context on what to expect when asking these questions. You can guage its accuracy by the fact that it has the most likes as well. If you think responding like this is going to get you other answers, I think you will find you are sorely mistaken. Please treat people with respect. You’ve been shown nothing but respect so far.
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Note that this forum is for technical discussions related to the Storj Network. STORJ is a utility token used to pay the storage node operators for their services and can be used also to pay for storage and bandwidth on the network.
STORJ holders do not have a stake in the company, it is not an investment. Please use one of the many available cryptocurrency trading channels on the internet if you want to speculate on token prices. This is not the place for such discussions.
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Well, I asked here, not because I want to hear some advice like “DYOR” or “follow your heart”, but because there are projects in which the growth of the token price is initially embedded in the idea of monetization, this is especially true with a fixed general supply.
Well, if you are launching your project, you should roughly understand future of the token - will the team support it at some level, or will it, on the contrary, reduce the offer and make buybacks or any other steps to increase the value of the token.
Am I the first one to ask this question? Or maybe it’s some kind of forbidden topic? Usually the team is willing to answer such questions.
Well you didn’t ask those questions at all until now. There is a fixed amount of tokens, that can’t ever change. You can look up the quarterly token flow reports to find out how many are held by Storj Labs. The basic token usage by Storj Labs won’t change, it will be used for SNO payouts and customers can use it to pay for Storj DCS and get a 10% bonus when they do. They also pay for some other costs with token reserves, like partner program payouts and I believe some salary payouts. But you can find all the info on that in the quarterly token flow reports.
Once Storj Labs runs out of their reserves they will have to buy STORJ back from the market in order to keep paying SNOs.
As for price predictions, I’m going to stay far away from that as the value of the token isn’t tied to the value of the company, nor the product. Even if you pay for storage with the token, you pay a USD price which is translated to STORJ based on the token value at time of payment. And even if you would get price predictions from others here, consider that everyone here is here because they either use the product or run a node. This means they have a stake in Storj’s success and are already filtered by the fact that they have at least some faith in Storj’s future. Would you really want investment advise from such a biased group of people?
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Thanks for the wonderful answer, this is exactly what I wanted to see. Yes, I really didn’t specify the question - my mistake.
I have read the reports on the movement of tokens, and I think that this token is not suitable for long-term investment. In any case, this is an interesting project in which it is interesting to participate.
Thank you for your time!
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