There is no proof of work computed besides creating the identity.
You should read this.
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Thanks, I need to understand all of this a bit more, especially the economics behind it.
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Oh so when i talk about “proof of work” I’m talking about bandwidth and storage, that is the proof I’m meaning.
"The total supply is 185M in circulation plus the 240M non-circulating supply, which totals 425M STORJ tokens."
OK Stob, on average, how many tokens do you earn a month???
I want to get my hands on thousands, tens of thousands, of these tokens, every few months, as an SNO… How do I do that?
This is the wrong question. All earnings are in USD. At the point of payment (assuming thresholds have been reached) the USD owed is converted to STORJ token at the market rate.
You don’t have control of that.
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Maybe you wanna read here:
That’s the point he doesn’t understand.
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Yeah i understand that. So how many tokens do you earn a month on average? Forget the USD… What is your biggest payout of STORJ tokens in a single month, in contrast to 425,000,000 tokens?
You can calculate with about 3-4 USD per TB.
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Since starting my node 11 months ago I have received in total 321.41 STORJ tokens.
As the USD to STORJ price changes what would have been $20 USD to 100 STORJ last year, will now be $20 USD to 6 STORJ now.
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You wait for the token to devaluate to about 0.001 USD, then you try to earn 50 USD in 1 month.
Et voilá, you just got 50,000 yummy tokens for that month.
On a more serious note, my best month netted me around 260 tokens.
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Only to generate an identity. During the work the node will not execute any proof of work. It offer your bandwidth and free space, almost not using your resources while waiting for customers’ requests.
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STORJ is designed to only do that, isn’t it? Take space and network capacity that is already being paid for, and offer it as a place for others to store files. So it can make you a bit of money from resources that would have otherwise been idle.
Maybe the misunderstanding here is how long it takes for those idle resources to be filled? Individual SNOs don’t have control over demand: so they have to wait for STORJ customers to arrive and upload. I’m not sure what a reasonable rate is to guess how fast space will be filled: maybe 3TB/year these days? It could be 10x tomorrow: there seems to be a lot of variance.
This isn’t mining: it’s a web service that hosts files - and it’s also a service that’s still slowly growing its customer base - and growing SNO payouts as it gets more popular…
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Guys, you aren’t answering his question. The guy explained that he wants to get his hands on thousands and tens of thousands of these tokens a month.
Well the answer is that @JimboSlice needs to get thousands, tens of thousands of IP addresses, all in different /24 subnets, get enough servers and hard drive space to never run out, create thousands, tens of thousands of nodes, route each one of them to a separate IP address, and then, most importantly, compel customers to upload exabytes of data to the network. Then wait for them to need the data back many times and, viola, you have achieved your goal.
Disclaimer: The cost of doing this will be almost guaranteed to exceed the total revenue generated in the next many years. Also it would single-handedly drop the income for everybody to half. Actually it is more efficient to buy the coins directly. They will most likely rise in value over the years with such a stable company, at least in my opinion.
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Sorry guys i was blacklisted from posting for a day being a new member and all that!
Well said. I think the SNO’s are being kicked about, the customers of tardigrade are being treated well with a fair deal, a solid idea backing it etc… Its really good customer facing innovation.
I’m stepping up a conversation here about business models (present and future economics) not business plans (how storj/tardigrade ended up like this), these are two different things.
I personally prefer contractors as I think it best describes the arrangement, but farmers/harvesters works fairly well.
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That term might have legal implications though. I think SNO works just fine.
Yeah, I just think that is completely separate from the Storj network and service itself. You get fair compensation and then you have the choice to keep that as tokens or sell them. The compensation at the time you receive it is perfectly fair though. So cash out or not… it’s up to you.
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It’s super simple. People pay us to host their data. That’s it.
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