I think your statement is a bit misleading and doesn’t promote good image for new potential SNO’s.
Why wouldn’t you want to attract new SNO’s with new hardware dedicated just to run for StorJ v3 and the project?
Based on your statement which to me sounds quite negative in short means: “Don’t expect to earn much or be paid to cover running costs for your node. Instead you should just use old dieing hardware that you don’t care about”.
You see I am one of those SNO’s that bought dedicated hardware just to run StorJ and it was an investment to do it. The fancy earning graph and calculator on the website showed how much an SNO can earn per TB etc etc… What it doesn’t show is the fact that supplying said TB to StorJ isn’t going to be filled for many many years meaning you wont actually receive said “earnings” even though it’s just an estimate.
Now, how do I feel that my higher tier and new hardware is being paid the same compared to someone else running dieing old hardware on a rPi? Is it fair to be paid the same? Well I don’t think it’s fair and higher tier SNO’s should be in a separate bracket to lower tier SNO’s running dieing hardware, but then again StorJ doesn’t care about that. It looks like “any hardware is good enough” as long as you have good uptime and audit’s.
This was both an interesting and good learning experience running a StorJ v3 node on new hardware and comparing actual earnings to the “website earnings calculator” along with a few community SNO’s sharing their cheaper rig builds and their earnings.
I will share the node earnings thus far just to put things into perspective of my experience.
31 month old node.
Electricity cost per month for the last 31 months outweighs the month’s earnings. And this is not even looking at the $$$ invested in new hardware to run the node, also wear and tear.
Some of you are probably thinking and asking your selves, why are you still running the node and will you continue. The short answer is: Yes I will continue to run the node as I want to support the project but it makes zero economic sense to do so. Currently this is like charity and I am giving away my storage, hardware wear and tear, up-time and bandwidth per month for free.
Back on topic regarding the drop/change in threshold for payments. It makes sense for StorJ but doesn’t make sense for SNO’s. I personally wont switch to L2 even if a bonus payment in StorJ is given and I will give my reasons below:
It doesn’t make economic sense for an SNO to accept payment on L2 because the SNO would then have to cover the fee to change back to L1. Loosing value of what was earned running the node in the first instance. And no the 10% additional StorJ doesn’t cover that fee from L2 to L1.
L2 doesn’t provide any benefit to the SNO at present ie The L2 token cannot be used or exchanged. It has to be sent back to L1 to become useful.
I noticed a few users have touched on a different topic part of this discussion on economics which touches a few areas on:
- StorJ earnings from customers paid in USD (also some pay in StorJ token directly).
- SNO earnings paid in StorJ token on the ETH network (and this wont change).
- StorJ token mint and ongoing minting of the StorJ token.
I just have 1 question on this:
Since StorJ token cannot be mined like other coins, have all the StorJ tokens been minted ie was a total supply been fixed and held by StorJ? Or are NEW StorJ tokens minted on a regular basis?