What can i do with the storj tokens?

[j2geu]

I don’t find the answer so I ask here because someone post about it.
What are the uses of storj token except for pay the SNO ?

Because like I see it, higher the price of storj is, less we have and if we don’t sell immediately, we loose money.

[Alexey]

Also, you can take a look on this topic:

Why does Storj use the STORJ token?

I would like to open discussion about Storj coin, why it was chosen or made, why not use etherium directly or some other independent coin not token. It makes aditional charges to conver transfor, and cant pay this price in storj token, need etherium. Any coin will be very stable, because of storj use will stibilize it. Something like Bulwark coin, it not have mining any more, only staking, 51% mining atack is not posible. Have high transver speed, at least 3 exchanges. It is just example. Al…

And read all related: Topics tagged storj-token

[j2geu]

I am not agree with this statement, if I want to exchange quicly the storj I receive, it is better to put an exchange adress so you gain some fee and speed.

[Alexey]

And lose your money, if they change the deposit address or run with your money, or block you from the access, etc.

The truth is still the same - whoever owns the private keys to the address owns the money on it.

If you trust your money to some strangers on the street - it’s your choice.

[j2geu]

No, it is not like some stranger.
It is more like a small “unsecure” bank.
You can trust them but not to much.

[Alexey]

No. They often do not have any governance from government or sometimes even by law in your country.
Thus they are not better than strangers on the street.

[anon27637763]

@j2geu

You can trust them but not to much.

I trust the Decentralized Exchanges much more than I trust the Centralized Exchanges… DEXs such as Uniswap work through smart contracts sitting on the blockchain. And while there are plenty of fake tokens floating around as well as possible exploitable errors in the smart contracts … at least the platform itself is unlikely to be the cause of loss of funds. Actual bad actors are needed to cause a DEX to fail.

However, Centralized Exchanges have been known to:

1. Use deposits to manipulate a blockchain
2. Lose hundreds of millions of USD worth of tokens/coins.
3. Close shop and take the exchange’s private keys with them.

…

And other nasty things to account holders and their funds.

---

Meanwhile STORJ hit $0.502 today !!

I think that means, STORJ is now above the ICO price for the first time since June 2018.

[j2geu]

Ok, I don’t want to pollute this subject about exchange or not.
Does anybody have short answer about what is the use of storj token except pay SNO.

I read your link Alexey and don’t find answer.

[anon27637763]

@j2geu

what is the use of storj token except pay SNO.

STORJ is a utility token. It’s sole use is within the Storj network:

1. Pay SNOs
2. Pay for use of the network via Tardigrade

However, there’s no reason one couldn’t use it for other things. If I wanted to, I could setup an online shop and put up a sign that says 10% discount if you pay in STORJ … But such uses are not a component of the intended design of the token.

[j2geu]

I understand but what is the advantage to pay use of the netwok in storj ? Is there real discount or something ?

[anon27637763]

@j2geu

Is there real discount or something ?

I think this is still true:

https://storj.io/blog/2020/01/development-update-34-from-storj-labs/

…

• We finished adding support for STORJ token payments so that clients utilizing the Tardigrade network have the option to pay for their invoices in STORJ. Making a STORJ token deposit will result in a 10% bonus to users’ accounts.