That is only one side of it. The other side is: Pay $4 to transfer $1 or less. That is ridiculous.
which is why it pays to not pay… 
the problem is people think they can do micro transactions, if everybody wants to move around minute amounts of money they will need infrastructure to do so…
SURPRISE there was a reason banks had certain fees… 4$ to do a transfer still seems rather low to me… i mean banks would take like something like 10 cents to 2$ for smaller transactions here… and well crypto is what 100times more complicated and data demanding… so really it wouldn’t surprise me if the costs would keep going up…
the banks would have massive mainframes to deal with that kind of stuff… and those was simply transactions… i think… i suppose there has to be some sort of verification and security in place lol but still i highly doubt it was anything close to what crypto is using today… so the question is how much worse is it… and then apply that multiple upon the bank fees and you most likely get the real cost the transaction fees will end at…
ofc in the future it will go down again as tech changes… maybe thats why we are seeing an uptake in processing developments again now…
only thing equal or better for development rather than war, is if people can make money on something lol
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Right. Additionally there is the speculative nature of the underlying asset. If ETH goes up because of greed, then it turns out to be a questionable idea to build a micropayment system on top of it.
For that you would rather require a different form of crypto, one that has no or low transaction fees and is more immune to greedy speculations.
@jammerdan yes, that is what I suggested earlier too, but there are some problems, you need to get that coin onto the relevant exchanges, which also might cost money for storj. I guess it is really up to the people at storj how to proceed, gas is unlikely to go down anytime soon, things might change when ETH goes PoS
i suppose if we know GAS will keep going up… that should mean we know that there should be money in Eth mining… and as we can see with storj the demand for more transactions are basically unlimited… even if people will get better at optimizing… most won’t really want to care if they aren’t forced to…
and many of us got servers running anyways… might be one way to try to make the transaction fees more reasonable…
The king has no cloths.
That is the way it is now - you get them every month, not when you want them
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Meanwhile…
Gas prices have been dropping from the prior max. At the moment, averaging 77 gwei, which amounts to about $0.62 USD per transaction. So, it’s likely that this thread will be OBE (overcome by events) Sept 10th or so when the payouts start rolling.
If one looks at where gas is being consumed… one notices that the two largest gas users are Uniswap and Tether (about $22 Million USD combined in gas in 30 days). Both consume large amounts of gas due to the complex smart contracts being executed.
Clearly, DeFi and arbitrage bots need Proof of Stake… Ethereum is getting there… slowly. very slowly.
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This is something we are considering; one of the issues with it is communication to the SNO’s and the lack of consistency from month to month. I dont know if having the floating threshold is worth the confusion we might have.
may be best way will be, that SNO will have an account, like in mining pool, and can withdraw money, then everyone can decide itself when hi will withdraw it, there can be also some threadshold, if over 10$ or something withdraw is free for user, if lower pay transaction fee. then it will looks like a democracy. But it will work if money there will apear every day or every week not once a month + 2 weeks.
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I like that idea… except for the need for account authentication…
If the account method is to be used, hopefully there can be an option to authenticate via a Web 3 wallet, such as Metamask… just like is done for sites like Cryptokitties.
Pues yo lo que veo, es que, aqui el plato roto siempre es del SNO… Por si fuera poco lo que nos retienen cada mes a los nuevos SNO, ahora hasta que no consigamos 10$ no se nos paga…
De mis dos primeros meses con 1,5TB tengo ganados 5,43 (4,07 Retenidos) y a falta de 4 dias para terminar el tercero van 6,13 (4,59 Retenidos)… 2,89 en mis 3 primeros meses, y hasta que no llegue a 10 no volveré a recibir otro pago. y si quiero cambiar el nodo de maquina o hacer mantenimiento solo tengo 5 horas al mes…
Pueden apretar mas el cuello a los SNO ? empiezo a pensar en hacer un Graceful exit…
Cudo Miner does this and it hasn’t stopped me from using their mining software. They have a minimum payout amount and you can control when you request your payout.
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En lugar de criticar te sugiero que te documentes…
El tiempo que se permite a un nodo estar offline ha subido notablemente y ha cambiado totalmente el metodo de seguimiento de este parametro
Si vives en españa te adelanto que con 1,5TB apenas cubres gasto electrico a no ser que uses algo semejante a una Rpy o un NAS de bajo consumo
Ya te adelanto que si pretendes que tu critica sea tomada en cuenta por el equipo de Storj la escribas en ingles y que si solo emites una queja y no aportas ninguna solucion mejor te quedes en la sombra observando: crticas constructivas BIEN, criticas negativas MAL
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I am sure you are right oin this. This is how I understood the post and it is fairly said very clear formulated…
traanquilo guapo, no pretendo ni que me contesten… solo expreso mi opinion despues de estar un ratito leyendo
27 posts were merged into an existing topic: Why does Storj use the STORJ token?
unbelivable, ppl crying for 2$ not reciving the 1st month. What if they decide to take the ETH fee(gas) from your payout?
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No problem from me. I am glad you will introduce this payment threshold thing.
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It seems to me we were once promised a system that paid us for work in almost real time? What happened to that? This seems like a way for Storj to make use of the massive inflation going on in the Storj coin price right now, $10 dollars worth of coin a month ago is worth $50 now.