So far the only utility of storj token is (that should drive demand)
- 10% discount if you pay with storj instead of fiat (if you even can call this an utility)
The other deemed utility is paying nodes with storj, but that is not an utility in the eyes of the storj holders, the opposite actually since it creates downward pressure on the price.
The official version is that token is needed to make the thousands of payments to nodes, since it wouldn’t be practical to do with fiat, but that argument doesn’t hold much water since it is much cheaper to pay them with ETH directly instead of with ERC20 ETH token…gas prices for sending tokens are higher than sending just ETH.
So we all that invested early in the project (2017 for me) feel kinda left out in the cold.
We believed in this project, we bootstrapped it with our cash, and now we feel like we are just being used.
Nowhere is mentioned any future planned utility for the token, something that accrues value to the token in relation with the project success.
I’m addressing the team here, do you have any plans to introduce such utility for the token?
Since you pay node operators with Storj token that you already have, and take mostly fiat payments, where do those money go?
Are there plans this fiat to eventually be used to buy up Storj on the open market to pay node operators once your reserves run out?
Gives us something here, we were with you in the early days, believed in you, gave you our cash, and now we are left hanging.