[ANN] Storj - Decentralized Storage - page 106.

ervalvola

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Hey guys,
sorry but, even if interested in the project, I hadn't the time to read all this thread and I dont find very exhaustive the informations I found in the website.
Besides others question the two points which I would like to be clarified are:

- there is a plan to issue other kind of coins (I remember I've read this somewhere)? If it is the case, what would be the purpose of a new coin (example very much appreciated) and what will be its relation with SCJX.

- What if the 10,000BTC isn't reached? I don't find satisfactory the asnwer that super3 gave in the topic of the official forum or in reddit. To be specific:

Quote

So we don't intent to fully raise 10,000 BTC. This is actually completely fine. What we have is a large pool of funds that we can distribute via early mining, and future crowdsales.

So lets take an example so lets say we raise 1,000 BTC. We set a multiplier of 2x. So We have 1,000 BTC worth of SJCX set aside. So that would be if you donated 1 BTC, you would be able to mine an additional 1 BTC worth of Storjcoin X in the early network(very easy mining).

So as we onload more developers our app pool gets bigger. We are looking at developing decentralized youtube/decentralized imgur among a few other options. These will have the own specific rewards attached to them.

So the percentage of funds to be allocated to "farming/mining bonus" is completely arbitrary? In your example 8000 BTC worth of storjcoin still are missing...
what means "future crowdsales"?!?

Thx in advance

truckythin

hero member

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if i participate today, when will i can mine with driveminer?

mtbitcoin

legendary

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Etherscan.io

Quote from: ?? on ??

Quote from: ejinte on July 18, 2014, 11:12:23 PM

Quote from: coin@coin on July 18, 2014, 10:01:42 PM

Is there a wallet to store StorJ Coins locally? Do they need to be kept on Counterwallet?

You can just keep them in your bitcoin address without loading the privet key in counterwallet and then you can store it locally.

Seems like you can't get the priv key out of the Counterwallet anyway. Why is that? You can backup the wallet but that's about it.
How would you send StorjX with a BTC address on a local client?

You can of course get the private key out of counterWallet ...

All it takes is 3 clicks after logging in Cheesy

Cheers

coin@coin

legendary

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I'm in too! Like the idea so just got some StorjX! Hope we will eventually get a wallet client for the coins.

IamNotSure

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Quote from: Byter88 on July 19, 2014, 02:08:12 AM

So basically, once the IPO is over, those who participated can start selling their HD space? I can basically buy a few external HDs and allocate the space to the Storj network?

Bought some StorjX today, works perfecty !

Byter88

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So basically, once the IPO is over, those who participated can start selling their HD space? I can basically buy a few external HDs and allocate the space to the Storj network?

mtbitcoin

legendary

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Etherscan.io

Quote from: ejinte on July 18, 2014, 10:49:53 AM

Quote from: IamNotSure on July 18, 2014, 10:42:56 AM

Quote from: ejinte on July 18, 2014, 10:30:22 AM

I want to buy storj but not use the counterwallet, is it possible?

You'll need counterwallet to access your SJCX.

But if you want to buy today, you can use a regular bitcoin address you own and access the SJCX later with whatever counterparty wallet by importing/sweeping its privkey. Just send the BTC with you regular address to the crowdsale address.

Alright thanks buddy.
I don't really trust counterparty after they got hacked and people lost their money even though they said it was supposed to be safe.

The XCP exploit issue was quickly patched and almost all of those effected were compensated by the counterparty developers. As with any new protocols there are always risks.

As for buying with a regular Bitcoin address, yes you can but do take note that the QT client lacks coin control and the outputs can (might) come from multiple addresses which in this case would require you to sweep from multiple addresses.

Cheers

ejinte

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Activity: 644

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Quote from: coin@coin on July 18, 2014, 10:01:42 PM

Is there a wallet to store StorJ Coins locally? Do they need to be kept on Counterwallet?

You can just keep them in your bitcoin address without loading the privet key in counterwallet and then you can store it locally.

coin@coin

legendary

Activity: 1722

Merit: 1000

Is there a wallet to store StorJ Coins locally? Do they need to be kept on Counterwallet?

Wulfcastle

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Activity: 546

Merit: 500

Quote from: superresistant on July 18, 2014, 12:15:29 PM

I would not sent any penny to this project.

If the project have value in itself, you don't need to dilute it.

Let's see the final product and stop speculating on something that doesn't exist yet.

The project looks much more legit that Maidsafe though.

Have you seen the MaidSafe whitepapers, compared to Storj's whitepaper, the two don't compare. MaidSafe may lack the designers that Storj have, however in the technical department they seem to be doing pretty well Tongue

Anyway, back on topic. Why is there a need to crowd-fund 9,800 BTC which is around ~ $6 Million and dilute the IPO. If they need to cover expenses surely a smaller amount would suffice. I'm sure they don't have anywhere close to $6 Million in expenses. Then again if virtually every thing is completed, which is what they are stating, then why not just launch like any other coin?

fabe

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I would not send any bitcoin to this project. I looked at the github and see no source code for the core parts. All of my questions have so far remained unanswered and the white paper does not show how the protocol works.

To be specific what is the exact protocol of:

storing data
retrieving data (how do you know the client actually got the file)
how does payment work (especially over time)
what is the blockchain format and how does it work

Most importantly how do you ensure redundancy?
Proof of storage is a trivial problem and now what has stopped decentralised data storage so far. "Proof of redundancy" is what we need! What is stopping me from creating thousands of nodes with one shared storage to increase my profit? Without "Proof of redundancy" the market forces will work towards the cheapest (least redundand) storage.

super3

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Quote from: ?? on ??

Quote from: superresistant on July 18, 2014, 12:15:29 PM

I would not sent any penny to this project.

If the project have value in itself, you don't need to dilute it.

Let's see the final product and stop speculating on something that doesn't exist yet.

The project looks much more legit that Maidsafe though.

I will follow you on this one Wink

+ I don't want to use counterwallet

But I have a lot bandwith to sell if the final product pay for it.

Talking with Hive in terms of implementing another wallet. You can send the BTC to the address, just make sure you control the private keys to use in a future wallet.

super3

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Quote from: superresistant on July 18, 2014, 12:15:29 PM

I would not sent any penny to this project.

If the project have value in itself, you don't need to dilute it.

Let's see the final product and stop speculating on something that doesn't exist yet.

The project looks much more legit that Maidsafe though.

Metadisk beta opened a few days ago, and I hope to finish up DriveMiner when I get back from the Chicago and Coin Congress next week. That puts our app count at 2 by the end of the crowdsale. Feel free to check out the code on Github. I'm working on a whitepaper to summarize all the things we learned and give a technical description of the platform.

superresistant

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I would not sent any penny to this project.

If the project have value in itself, you don't need to dilute it.

Let's see the final product and stop speculating on something that doesn't exist yet.

The project looks much more legit that Maidsafe though.

Anotheranonlol

hero member

Activity: 588

Merit: 504

Quote from: h0lybyte on July 18, 2014, 11:16:34 AM

9800 BTC? Such wow.

The only issue I have is that you have to buy stoj through counterparty :/
I assumed the whole thing ran under its own standalone "currency".

CounterParty is a vehicle. (not to be confused with the XCP 'currency') -- The most mature and elequent way for crypto-crowdfunding. Native BTC is the underlying token used.

h0lybyte

hero member

Activity: 924

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9800 BTC? Such wow.

The only issue I have is that you have to buy stoj through counterparty :/
I assumed the whole thing ran under its own standalone "currency".

ejinte

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Activity: 644

Merit: 500

Quote from: IamNotSure on July 18, 2014, 10:42:56 AM

Quote from: ejinte on July 18, 2014, 10:30:22 AM

I want to buy storj but not use the counterwallet, is it possible?

You'll need counterwallet to access your SJCX.

But if you want to buy today, you can use a regular bitcoin address you own and access the SJCX later with whatever counterparty wallet by importing/sweeping its privkey. Just send the BTC with you regular address to the crowdsale address.

Alright thanks buddy.
I don't really trust counterparty after they got hacked and people lost their money even though they said it was supposed to be safe.

IamNotSure

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Activity: 672

Merit: 500

Quote from: ejinte on July 18, 2014, 10:30:22 AM

I want to buy storj but not use the counterwallet, is it possible?

You'll need counterwallet to access your SJCX.

But if you want to buy today, you can use a regular bitcoin address you own and access the SJCX later with whatever counterparty wallet by importing/sweeping its privkey. Just send the BTC with you regular address to the crowdsale address.

ejinte

hero member

Activity: 644

Merit: 500

I want to buy storj but not use the counterwallet, is it possible?

Anotheranonlol

hero member

Activity: 588

Merit: 504

You should create crowdsale announce thread in alt currency and securities section for increased visibility.

Topic: [ANN] Storj - Decentralized Storage - page 106. (Read 389670 times)