I noticed it and then I misread that you took the money back. That person didn’t need some ETH for transferring STORJ, he already had ETH in his wallet. What an a**hole move for $2…
Well… I was wrong… that never happens.
Some legal jurisdictions label such actions as “Money Laundering” … If someone lives in such a jurisdiction, they can be arrested and prosecuted for using or developing a coin mixer…
Really?! Those services are the best way to get peoples privacy back. If government and companies know all about us and our transaction what a dangerous and sad world would this be…
@ donald.m.motsinger You are so right: Those people are the reason why we cannot have nice things in the world and hav to put locks on our doors.
I’m just reporting… not advocating.
It’s very important to indicate that the use of coin mixers is very risky and could easily end up in some legal trouble for the participants.
It’s also important to remember that intent to commit a crime is what is being measured and Law Enforcement are doing the measuring. So, using a service that doesn’t overly obscure the source and destination of the funds being transferred or exchanged is probably OK. However, coin mixers are now generally considered not OK by regulators.
I think you’d probably be fine if you were transferring just a few cents though. Bigger fish and all.
Unfortunately my expectations for this experiment came true even faster than I expected. I admire the faith in people though. But especially when people think they can do things anonymously, they tend to be selfish jerks. Even for $2…
I think part of the problem here is also what @peem is mentioning. The lack of non-custodial token swap services supporting storj (Kyber, Bancor, etc) is really, really sad. The only token-swap-esque service supporting storj is Changelly. So, for most ppl, even if they managed figuring out how to cover the gas costs for pulling out their storj, they’d probably get stuck on how to exchange it to something meaningful that is supported at brokerage places like Coinbase that allow you to get $ for ETH. Then, if they do figure that out, they’ll get ripped off by someone like Binance on exchange ingress, egress and swap fees.
The other thing is, this isn’t some Storj-specific problem, its a problem in general for crypto. How do you do on/off-ramp with your money. And evidently, for years now, no crypto service has managed doing a break-through in that direction. It’s all soon™
uniswap works great.
Anyone can create a token pool on uniswap. So, if someone has token K and doesn’t know what to do with it… that individual can start a pool for swapping token K for ETH… The next individual who comes along can then perform an exchange against the newly created pool. The pool creator gets a reward paid out from a portion of the 0.3 % platform fee per transaction.
both uniswap and bancor. so yeah, is it time we create a bancor/uniswap storj pool?
I tend to avoid uniswap, because their sETH pool is used for liquidity in now 3x times hacked bzX and Compound.
That doesn’t really solve the initial problem tho. how is a newb to egress their storj earnings. What you were describing with the contract is obv. the way to go. You can even earn some money off of that by depositing the stale positive balance to Compound, etc
Any interest earned in such an investment would need to be put back into the donation pool. I definitely do not want to get involved in anything that could be construed as investment for profit on crypto at this time. The tax guy will definitely search and destroy me.
But I’m glad you liked the idea…
I’m also glad @andrew2.hart seems to have acquired an ETH donation. I was just about to send him some since gas prices seem to be settling… and am wondering if he now has sufficient ETH to play with…
Https://changenow.io. also can do stork tokens. W/o registration.
@anon27637763 i rethought your concerns. But then a bubblegum or vending machine also must be required as money laundering. You put a marked cash bill in ans get laundered money minus a fee back…
@anon27637763. Wonder no more. I donated him.already.
Again… I’m not arguing the sensibility of the rules. I’m simply pointing out what seems to currently be risky behavior.
At the moment, using coin mixers is probably not the best course of action for crypto users in certain areas… and definitely not a good idea for newbies.
Thank you. I have sent my first ever transaction using your donations.
There was once this movie “Pay It Forward” strarring Haley Joel Osment where the boy helped people under the condition that those people help others themselves.
So: I donated some cents to @andrew2.hart to kickstart his crypto-career. I suggest anyone needing start-Ether now contacts @andrew2.hart and posts a “Thank you” afterwards in this thread for the next SNO-Newbie to contact that guy and so on.
Hello @Wolfgang,
how is it meant that you need an initial ammount of ETH? Is it because of the transaction fees?
correct. You get paid in Storj-Tokens and want to exchange to some other crypto. Moving money around in the ETH-univers costs gas that must be paid in eth, not in Storj-Tokens. If you need some, ask @andrew2.hart and be the next one to be asked about a small donation…
Here is my experience so far.
1 I got about 100 storj in MEW wallet that I could do nothing with.
2 I got a kind donation of $1 eth
3 I transferred 10 storj back using a bit of the eth
4 Can’t do anything.
If I try the MEW coin exchange it tries to charge $10 in eth.
If I try changenow MEW shows 22cents charge but if I try to send, this jumps to $1.50 and MEW will not start the transaction.
So I resorted to starting a coinbase wallet instead
I used Coinswitch for transferring STORJ into ETH.
andrew2.hart did not get the idea…
@andrew you sent Storj tokens back. What would I do with those Storj tokens on THAT wallet… And the ammount is too little to exchange them. Eather you should hav returned ETH or you should have waited for the next SNO-newbie to contact YOU for ETH… I do not send those STORJ-Tokens to my privat wallet because I do not want my other wallets toi be compromised… I’ll wait till the next donation request receives me and then must send Storj and ETH …