Topic: Why Storjcoins Will Have Value. (Read 2125 times)

Storj will also have value because Google Ventures, Qualcomm and Techstars have just invested $3 Million in the company.

http://www.coindesk.com/blockchain-startup-storj-targets-enterprise-cloud-3-million-raise/

I can't really agree with this, having looked at the coin a while ago. The idea of decentralised storage is definitely a good one, but it is not that important to many people, and the developers have not made it clear enough to the average bitcoin user why storj is important; why should we pay for decentralised storage? There's also very little advertising, meaning the coin is still relatively unknown. Not to mention more successful competitors such as MaidSafe.

Everyone has tried and no one has provably succeeded yet. Afaik, that has not been the focus of the proof-of-storage projects (correct me if my assumption is incorrect). They are trying to sell and develop proof-of-storage concepts. Afaics we are drawn to where our expertise and interests lie. Unless they just happen to stumble on to it because it dovetails with their R&D for the proof-of-storage. (MaidSafe has claimed solving everything but my impression is it is mostly BS, yet that is not an exhaustive review, just an impression from some review of it a couple of years ago)

I think I have (but I could be mistaken) a little insight into what is required to solve it. I don't think it is going to be something random others will realize easily. The people wired the right way to solve it, have the relevant knowledge, awareness, and availability are probably few (but I might be wrong because I don't know what everyone is doing in obscurity right now all over the world).


Well once someone produces a technology that scales well decentralized, then others will likely clone it. Whether there is one project that wins or many clones and offshoots, remains to be seen. Note BitShares' Graphene (also used in Steem and other projects) scales well but centralized by whales and even centralized running only one core of the CPU. I don't think the world will rally around a blockchain controlled by some whales.

If Bitcoin is instructive, then one leader (usually the first mover) will emerge. Because the world prefers not to have the risk/cost/confusion of competing standards. We see in every case on the Internet, that the world rallies around a clear winner in standards wars. That is if one standard can fit all major needs. Otherwise factions/forks emerge for niche markets.

yuou mean siacoin? that coin is dead man, it was killed from the moment clymore released his dual miners for etheruem and sia, but it was a cool project at the beginnign with nice addition and not only a copy-paste


i agree but not if done with space, but speed of SDD, it would be better because cluster service would not have advantage and centralize the mining activity

I am not sure whether they solved this issues as well but even if not, they might be able in future ?

Apart from that, do you think there will be just one blockchain where all decentral apps and transaction features are placed on or several ones like a bitcoin chain + ethereum like chain etc. ?

Because afaik they didn't solve the major problem of decentralization and scaling of blockchain consensus for general uses of a blockchain. Their focus is on storage, not general use blockchain technology. Please feel free to correct me if I am mistaken on that assumption.

Also IMO, the Bitcoin 2.0 blockchain is not only going to be a token. It will be for consensus on all forms of data.

Proof of storage or mining using hdd has potential in the market,about Storj I don't if this is really profitable compare to Burstcoin,not actually a direct competitor but another coin that uses hdd to mine Burstcoin,people will prefer to mine a coin that let other people use their harddrive.

better yet
SIA

but agree blockchain/coin driven 'clouds' are pretty cool!

And why can't these tokens like Maisafe for example become the Bitcoin 2.0 ?

Why the "proof-of-storage" tokens will not have value:

Cross post from http://blog.storj.io

To put it bluntly, Storjcoins (SJ0) will have value because they will be backed by a commodity—storage and bandwidth.  Storage is a resource that literally every single computer user in the world requires whether it be cloud based or local storage.  Bandwidth, while not used by everyone (let’s face it though, if you don’t have network access, you’re missing the best part of the computing world), is also a necessity for the majority of computer users.  Right now we rely on manufacturers and corporations to provide these resources to us and, though we can set a market price through our demand, there are massive overhead costs we’ll always pay extra for in a centralized model (employees, data centers, shipping physical drives, etc).

Storj’s applications will dramatically reduce these costs by allowing Bob, who has an extra 100GB of storage available and who only uses an average 20% of his available bandwidth, to sell these previously wasted resources to Alice, who needs 50GB to temporarily hold her raw images while she edits them.  Bob doesn’t have a massive data center that requires constant, industrial-scale cooling, and he doesn’t have employees he has to pay to manage that 100GB to make sure that it’s functional.  He just wants a few extra Storjcoins to offset the cost of his internet service or to exchange for a frappuccino. He also hates to see anything go to waste.  Alice, on the other hand, doesn’t want to shell out $100 for a new hard drive when she knows she won’t need that storage in a month’s time, and she doesn’t want to leave a copy of her photographs on an insecure iCloud server that will charge her $100 for a hosting plan she may not even fully utilize.  The solution is for Bob to sell Alice the space for a fraction of the cost.  If Bob’s hard drive happens to fail, the Storj network will automatically repair itself to maintain 3-times redundancy of Alice’s data, and Bob will no longer receive Storjcoins until his node comes back online.

Both parties benefit tremendously from this system as Bob is making an entirely passive income, and Alice can gain access to extra storage space with only a few clicks and at minimal cost.  Also, Alice doesn’t have to worry about prying eyes viewing her data as it’s shredded across the network to hundreds of different users and fully encrypted so that no one can access it except for her.

Let’s get back to the value of Storjcoin.  Referring to the above example, it’s clear to see the benefits a decentralized cloud storage solution offers to both storage consumers and providers over traditional, centralized methods.  People are already paying (too much) for insecure cloud storage with high overhead costs right now.  Storjcoin will become the new unit of account for disk space and the bandwidth required to access it because this system is clearly superior to the one in place.  Instead of paying $2/GB to Apple for an inferior product, you can pay a fraction of that to someone just like you.