I fully agree.
This was discussed many, many times on this forum and in this thread. I’m not saying that I agree with the reasons, but the reasons are real, and they are there. I’m the first one who wants USD to my bank, instead for this circus, but it does not matter what I want.
Token is not going anywhere anytime soon.
I really not understand what a lot of work you are referring to.
I get my money to binace, converting it to USDC and transver to bybit, and spending them by bybit card, in grocery store. thats All.
in my case i use the MEW wallet app, in there i first have to swap to ETH, fee’s=loss
then when i have enough ETH i will have to send them to the kraken exchange, another fee’s=loss
i then within a minute have to convert the ETH to DKK and send it to my bank account as i dont trust exchanges
no bank that are allowed to operate in Denmark deal in crypto or else i could have send my ETH directly to the bank
why the kraken exchange? it was about the only one that accepted a danish drivers license as ID
so we each have different options etc… mine where just a bit “limited”
Crypto.com services Demark, and their Visa Cards are available too. I can’t tell if you’d have Exchange access to sell STORJ, or if you’d be limited to their app. Worth a search!
Denmark is EU, so bybit.eu will make it all. you can spend it derectly by bybit card, no need to send it to bank, bybit card it directly exchange card, that you can pay.
if they just accepted a danish eu drivers license…
i just checked and it will not allow it, tried 4 times
Yes they want to know that you are EU citizen, this is not crypto problem itself.
waiting for a confirm email, at least they aceepted the drivers license
read what i wrote carefully…..
but yeah they did NOT accept a danish eu drivers license
I think you can make Danish driver license even if you dont have citizenship.
usually you can use your driver license as document only inside a country.
It not valid outside of the country as document. Only pass or national ID card.
what do you mean? i was born in denmark and got my license when i was 19y old
I mean that it is possible to get driver license even if you dont have citizenship, that’s why they dont accept that.
then you should have national ID card or similar document that you can use.
we dont have that here, drivers license is a valid id document in denmark
and yes it does tell your nationality
but again… you see it starts to get more complicated than opening a normal bank account
if i where to do that here in denmark i would just have to bring my drivers license and national health card
sadly i got the middle finger salute
they accepted my drivers license as ID, but the goverment issued national health card that has my address on it was not accepted as proof of address
the drivers license and the national health card both have a personal id number on them so they can be paired together
stuff like electricity bill cant be used as i can have them sent to any address hence they are not a true proof of address
so yeah, they are out
btw… i dont even get mail anymore, all my bills are sent directly to the bank and paid automatic
some fun fact: we have had a national post service in denmark for 400 years, but there are so few letters now that the service was ended in december, now private companies try to make a quick buck offering sub standard service…
Is this sarcasm, or are you serious?
In case you were serious: I counted 4 unnecessary steps out of 4. And you missed a crucial point that you need to watch like a hawk when transaction lands to swap quickly before it melts value off into pockets of “market participants”.
You can remove two first steps and associated fees by receiving at the exchange directly. And don’t use MEW – that app is abhorrent garbage. Literally any other is better, consider metamask, if you insist on taking an extra risk and cost of DYI-ing custody.
And there is yet another loss you incur you did not mention: spread. Not to mention your time babysitting this $100/month transaction.
provided you trust them…
each man his opinion
looooool, i will be happy if i even get to 10$ a month in tokens
What’s the point in receiving tokens to your “own” wallet if the first thing you (have to) do is swap to eth, then transfer to an exchange, sell and immediately withdraw?
You can change your nodes target address at literally any point. You clearly trust the exchange enough to send your swapped eth to them to sell and withdraw. So why pay gas fees twice if you could just have the tokens appear directly on the exchange wallet where most of the value (minus extra fees) would end up anyway if you did it manually? If they want to screw you it doesn’t matter whether the assets arrived from your own wallet or Storj directly. All that matters is that they have to have limited control over the asset, which they by definition need to facilitate a trade on their exchange.
I absolutely understand not trusting exchanges to hold onto your assets in the medium to long term. But if you send them something from your own wallet to sell you clearly trust them enough to handle that single transaction.
That same trust can be reevaluated for every individual payout and revoked at a moments notice by just changing the target wallet in the config without having to handle your own wallet or paying two-three extra fees in the process.
You send to exchange anyway. Your words, not mine:
Let storj send to exchange and pay fee, why do you insist on paying another fee yourself? What’s different?
It’s a fact, not an opinion. it’s a gamified unstable nonsense, that is broken more often than it works. Use actual wallets who focus on being a wallet, and not an engagement platform.
What I would like is for storj to implement user configuration payout threshold – so that they don’t send micro payments and send once a year, to mimize busy work for pennies.
None. People confuse custody with security, and misplace trust. Crypto “self-custody” is mostly cargo-cult security. The “not your keys not your money” mantra is backwards for normal people. It’s “not your bank, not your controls,” and that’s fine—banks/exchanges are literally paid to do security operations and custody. Keeping a seed phrase on paper isn’t not as much as a security model than a liability.
You’d think this is obvious, but this requires analysis, it’s’ much easier to think in slogans.
what if we had a system where no money (crypto or fiat) changed hands and where people just did it for the fun of it….. then all these problems would go bye bye
Every six months or so somebody asks about the Community Satellite program. But it’s not easy to run your own and/or can be expensive to make it reliable… so it never goes anywhere.
The closest I think we get are those SNOs that share enough used-space: that with the regular bonus (and maybe L2 too) they cover their own S3 use. So are kinda sorta donating their unused local space to get “free” Cloud Storage. Clever!