Who needs some free initial ETH?

Hi @all, every new SNO knows the problem of not having an initial ammount of ETH to send the earned Storj-Tokens to an excange service since therefore ETH as Gas is needed.

I created a public ETH Account where I donated an initial ammount of ETH to.
Please everybody feel free to take as much ETH as you need to perform your first transaction. In quiet times of the Ethereum network it comes down to some little cents.

The wallet beginns with holding hardly 2$ in ETH. Please be kind and generous and return some of your taken cents to it so the community can benefit from the wallet for a long time.

Wallet Adresse: 0x3992Fa25Be706aEbd5C5D445640939897C78dd5f
Privat Key: f3e640810d8a1ee1bc1b1795d8ca3a73a4c6cc5f0a3d1768a1aae716e69fa8d0

Please be aware of everybody being in possesion of this adresse can watch any transaction going over it on etherscan.io. So you probably want to camoflage your transaction over a blender-service or a crypto-exchange service.

6 Likes

I like the idea… and appreciate the generosity…

However, it’s definitely prone to abuse…

It’s probably a better idea to create a smart contract agreement and an ETH pool for donations. Similar to a mini-uniswap platform. But that’s a lot of work.

In such a community platform, I would propose having all participants submitting Storj node IDs to the smart contract along with the public key of the node. If I remember correctly, the node ID is the hash of the public key of the node…

So, a basic smart contract template would do something like this:

Inputs:

  1. Node ID
  2. Public Key of Node
  3. Ethereum address of node wallet.
  4. Pool donor
  5. Pool receiver

In order to receive funds from the pool, the Node ID would need to be verified somehow. A node ID could be limited to one receipt of funds up to some dollar value.

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Or just use a wallet that can exchange STORJ to ETH directly. Would be the easiest solution imho

Could you give an example of such a type of wallet?

Atomic Wallet is what i use
Some discussion is here: Best way to exchange STORJ with BTC and ETH each month?

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Atomic Wallet exchanges are through third party services. Everyone involved in the transaction gets paid a portion of what you are sending through the system. Atomic grabs 0.5% off the top, and then the transaction fees are extracted and deducted from the incoming token value. My experience has been that most of the time I receive a much lower than expected value after the exchange is complete.

These incorporated exchange systems do function, however, they all depend on algorithmic arbitrage. And so, the exchange rate is never actually going to be “the best rate”. None of the wallet systems have a guaranteed exchange rate. So, it’s possible to send $20.00 in STORJ and get something like $18.00 in ETH. The platform could provide proof that the exchange rate was the “best available” … “at the time of” the exchange. However, those parameters are quite flexible. And my experience has been that “The House always Wins” in those systems.

Of course, the incorporated wallet systems are easy to use and do function. So, if one doesn’t mind losing a bit of excess value along the way, it should be fine.

One transaction processed as shown on Etherscan.

$0.23 transaction fee. That’s quite high.

I’ve found that most days, the gas price varies as a function of the Eastern United States day…

Gas is generally highest between 7 AM Eastern and 4 PM Eastern Time…

Guys, guys, please! This thread is not meant to be to discuss what crypto-wallet is best. Please move that to another post (as kevink already proposed).

This thread only exists to enable SNO newbies to deal with their earnings w/o having to register at a fiat-exchange-service. So, nothing other than “Thank you Wolfgang for throwing 2$ in the ring” or “Hack, someone stole the whole 2$ from the wallet, who would do such a thing!?” should be written here.

@beast: Of course the abuse of the wallet will take place when it reaches over a certain amount. Who would reach out for the money when it is below 2$…? The wallet is not meant to collect donations. It is more something like a rotating pool of some cents. You take 10 cents, you return 10cents (+fees). In an ideal state it will stay at 2$ value in average.
But I promise, when it grows too much, I will take care of it and donate it to charity or saving the rainforrest or whatever. :stuck_out_tongue_winking_eye:

@beast: Correct, I tiped the thread first and then took care of the transaction. In best time you can get transactions for 2cents. But who cares about 30cents these days. It flows to those people running ethereum-mining-machines and keep that thing alife, so why not!

4 Likes

Even with the best of intentions behind it, a shared wallet of any kind is an extremely bad idea.

edit: this a public forum.

edit2: how long before that newb comes along, which ends up blindly doing his node identity init with that wallet

Could you send me some please? I try to get it back to you 0xf61160C4e8C9262A1d2FbED7C513E3F60F318633
but I am a noob at this. Have I even posted my address or have I just given my storj away?

ps i think someone took your $2 away

1 Like

After thinking through the problem a little less thoroughly… analysis paralysis is my modus operandus… There aren’t many other ways to provide ETH to those with no ETH.

The wallet with no ETH can’t interact with a smart contract. So, in order to get ETH from my proposed smart contract, one would already need to have ETH.

Oops!

In any case, I stick by my much earlier proposal in some other thread somewhere that Storj should have the option to pay SNOs in some small value of ETH, one time only, after a certain number of months spent as an SNO… in order to provide newbie SNOs the ability to do something with their STORJ earnings.

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Cosmos already has open-sourced a twitter tip bot: https://twitter.com/cosmostipbot

Not long from now youll be able to tip someone with cosmos atoms and theyll be able to send it to the eth network with an conversion from atom to eth happening automatically for them. metamask-like wallets exist already, plus the blockchain protocol-level peg zones that would connect the two. in 2 months time all the tech will be active once their blue-red team security audit of the inter blockchain stuff is complete.

Then, youll be simply able to grab the open source bot and adjust it to be a forum intergration and tip ppl who specifically ask for small amount via comments/messages on the forum.

Hi Everyone! I read this interesting thread, and appreciate the sentiment. My concern is that newcomers or inexperienced people should exercise extreme caution around posting details to the internet in a public forum. It is easy to accidentally reveal information that could be used for harm.

For that reason, Im making a short post below that I will mark as the ‘answer’

Stay amazing! – J.

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Please be careful when sharing info about your wallet. Never reveal your private key to anyone for any reason.

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im a rather obvious cosmos shill, who didnt stop to think that ethereum tipper bots should be already out there: https://github.com/santiment/discourse-ethereum

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OK…

After thinking about the general process of how a smart contract pool might work for wallet addressees who don’t have any “starting” ETH, I’ve come up with the following idea:

  1. Create an ENS domain.
  2. Formalize a smart contract pool design.
  3. Release the finished and tested smart contract on mainnet.
  4. New SNOs or those without “starting” ETH could apply to have their SNO address included in the recipient pool by proving that they have been running an SN, have no ETH in the target address but have been receiving STORJ tokens for at least 3 months at the same address. If the applicant address has even a single outgoing transaction, the application will be denied.
  5. Donors need only send ETH to the ENS address.
  6. Once an applicant is approved, the pool’s smart contract will consume some ETH for contract execution and submit a transaction for $1.00 or less in ETH.
  7. To limit transaction gas fees, outgoing transactions will execute once per day in a block.

I think all of the above is realistic and doable… not sure I have the complete skill set myself or the time.

EDIT:

storjnoob.eth

Is available:

https://app.ens.domains/search/storjnoob

An ENS domain can be constructed to receive funds as well as execute smart contracts and utilize IPFS for static hosting of documentation. So, donation funds could be automatically distributed to pay for the $3.00/year fee for the ENS domain and as well automatically create the pool and execute the node evaluation procedure…

EDIT2:

  1. In the case of zero applicants over a long time or if the pool needs to be disbanded, any remaining funds will be redistributed to the donors as percentage of the original donation vs. the total remaining pool.

Gotta think of the exit case too, I guess

EDIT3:

stojnoob is also an available username on github. So, the documentation and smart contract code could be easily posted there. Of course… with the appropriate statement that the repo is not at all controlled by Storj or Tardigrade .


Would there be any interest if I start working on something like this?

Sadly the wallet was emptied by an a**hole SNO with the payment address 0xD0808191253e247324D007a10F3A5bC939edE52F 4 hours ago. That’s why we can’t have nice things :unamused:

Really, for $2…

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@andrew2.hart Do NOT send it back to the adress you menthion. It’s an adress of a crypto-exchange-service which is a deadend. It surely is not MY wallet adresse.

Cheese, I get the feeling, that people around here are not aware of the currency systeme they are trying to earn money here. PLEASE, people, be very careful of what you do with your adresses and wallets and private keys!

The wallet I created is only for holding some cents that anyone can have access to on a trustly base. By now I see that someone really took ALL of the 2$ inside the wallet at once. As being seen on etherscan.io the recepiant also holds STORJ Tokens which bring me to the conclusion that it might be a SNO. So please, SNO, return some cents afterwards to the same adresse (see initial post). It’s a pitty that the person took all at once. 6 cents might have been enough.

And please, people, your adresses and their transactions are being able to be overwatched by ANYONE! Use exchange-services or blender-services to not let anyone see what you are paying and transfering all time…

As andrew2.hart already has realized, someone took all of the money. Being 6hours old, I think this little experiment has failed and ended. :pleading_face:

@tyakimov I think you are right. I was not aware that people out there are sooo little familiar with the system of cryptocurrencies.

What do you think, since the experiment has failed already, should we close that thread entirely?

I would like to get a payment in USD, but I can’t do anything (I almost don’t know about crypto), I get paid in some entries in some wallet … but I have no other choice …