Bitcoin Forum

What is Storagecoin
Storagecoin is a new Nxt Parallel chain Based cryptocurrency that uses proof-of-storage instead of proof-of-work. This creates a blockchain that is protected by an expensive resource that is also useful for storing files over a distributed network.
The proof-of-storage algorithm uses the Nxt Parallel Chain instead of a blockchain. This means that each participant in the network only sees the transactions that are relevant to them, instead of seeing every transaction that occurs over the network. This is done in a secure and trust-free way.
Finally, Storagecoin introduces the concept of script-based wallets as opposed to public key based wallets of Nxt. This adds an enormous amount of power to wallets by allowing them to have arbitrary volumes of public keys and arbitrary rules for committing transactions.

The Storagecoin Parallel Chain
Each node in the Nxt Parallel Chain is a blockchain. Each blockchain tracks a random subset of the wallets on the network, and each wallet belongs to only a single blockchain. Each parent node has aggregate information about it’s children, as in the following example:

In the diagram you can see that blockchain 1.1 tracks wallets 1.1.w1 and 1.1.w2. The combined balances of all the wallets in 1.1 is 4, so 1.1 reports its aggregate balance as 4. Similarly, blockchain 1 tracks the two blockchains 1.1 and 1.2, which have a combined balance of 14. Blockchain 1 then reports its aggregate balance as 14.

When sending a transaction, transactions travel through the Parallel Chain:


Here we have two example transactions. The first is from 2.w1 to 2.w2. Blockchain 2 confirms that 2.w1 has sufficient balance, and then confirms the transaction. In this case, only a portion of the network knows about the transaction, as the aggregate balance of blockchain 2 did not change.
In the second example, 1.w1 sends money to 2.w2. First blockchain 1 confirms that 1.w1 has sufficient balance. Then, the root blockchain confirms that blockchain 1 has enough aggregate coins to send the transaction to 2.w2. The root blockchain does not know about wallet 1.w1, it only knows that blockchain 1 has a large enough aggregate balance to send money to 2.w2. Finally, blockchain 2 receives the transaction and allocates the coin to wallet 2.w2.

Individual Blockchains and Blocks
Each blockchain in the Parallel Chain is composed of n hosts (n being the same for every blockchain in the Parallel Chain). Each host contributes the same volume of persistent storage to the network, this makes becoming a host difficult (and therefore prevents sybil attacks). (A single machine can participate as multiple hosts provided the machine has enough storage).
In each block, certain tasks must be accomplished:
  
   1. Produce entropy for the local blockchain (to seed random numbers)
   2. Each host must prove they still fulfill the persistent storage requirement
   3. All transactions must be processed

This is accomplished using a consensus algorithm. In the first step, every host sends its own update to every other host. In the second step, every host receives an acknowledge. When a host sends an acknowledge, the claim is ‘if my update appears in the blockchain, your update will also appear in the blockchain.’
In the second step, each host contacts a block compiler. There is 1 block compiler each block, and the block compiler is randomly chosen from the n hosts. The block compiler is actually an ordering, so if one block compiler is offline the next is already known.
Each host sends every update that they acknowledged (including their own) to the block compiler, who then returns the acknowledge. If the block compiler fails to return an acknowledge, the next block compiler is contacted until an acknowledge is sent.
Once contacted by a majority of the network (or after a significant amount of time has expired), the block compiler announces the block to the blockchain. The block that is accepted is the block announced by the block compiler with updates from the most hosts.
If the majority of hosts are honest, then every single honest host will have their update included in the block, because each honest host will have an update from each honest host, and will therefore keep contacting block compilers until one of them acknowledges the stack of honest updates. A block cannot have the majority of updates without also having all of the honest updates, so no dishonest block will be accepted.

Each block is sent to all children blockchains, which allows the children to verify the authenticity of the network. This also means that the children will be aware of all incoming transactions targeted toward them.
To send a transaction to a parent, the block signs the transaction and announces it to the parent blockchain in the same way that transactions are normally announced to a blockchain.

Entropy
Significant portions of the network security rely on randomness. Entropy is generated on a per blockchain basis, and it is generated in two stages. In the first stage, each host in the blockchain picks a random string and shares the hash of that random string. The method of choosing the random string is left to the hosts. In the second stage, the hosts reveal the random string that matches the hash from the first stage. The strings are then all combined in a predetermined way and used as a seed in a cryptographically secure random number generator.
By doing this, if even a single host is generating random numbers, the entire blockchain will be seeded to produce random numbers.
(!) This method is vulnerable to attacks where hosts deliberately go offline (or force other hosts offline through DDOS or other methods) in order to manipulate the random string generated in the second stage. The current defense is to maintain strong punishments for going offline to make entropy manipulation not-worthwhile.

Proving Storage
Each host has an identical volume of persistent storage that they contribute to the network. Each host has what is called a ‘stack’ of data. This stack is broken into ‘slices.’ Some of the slices are used for storing the network state and the blockchain history. The remaining data is being rented out by the STC network, and is filled with arbitrary data. This data is erasure coded using Reed-Solomon coding, which means that every single host has redundant information about the data stored on every single other host.
Every block, a random 1024 bit segment of the data stack will be chosen, and each host will have to reveal what data they have stored for that 1024 bit segment. Because each segment is erasure coded across every host in the blockchain, the erasure coding repair rules can be used to determine who has the file.
Just like for entropy, proving storage has to be done in two stages to prevent information from leaking to dishonest hosts during the first stage. (you can figure out what your segment is supposed to look like if you have some fraction of the other segments).
   (!) Delegation problem [solved, mostly]
   (!) Recursive storing problem [solved, mostly]

Renting Storage
The Storagecoin Parallel Chain requires hosts to contribute large volumes of storage to the network, which means that the network has large amounts of storage available for use by the public.
This storage can be rented by the public. The price is set in storagecoin, and fluctuates according to supply and demand. If there is lots of unrented storage, the price will drop. If storage is being rented as fast as it is being supplied, the price will increase. The money spent by the public on storage will go to the hosts providing the storage.
Because the network has a valuable resource (persistent storage) that can only be purchased using STC, STC is given a strong base value. Should the value of the STC drop significantly, storage becomes very cheap and demand for the storage should increase. Should the value of the storagecoin raise significantly, the supply of storage should increase as there is a greater incentive to provide storage to the network. The greater value of storage on the network will protect the increased price of the STC.

STC Wallets
Each wallet is owned by a single blockchain. The data for a wallet is stored using the persistent storage in the blockchain. Each node keeps all wallet data for the blockchain, meaning wallet data is stored with perfect redundancy.
Because wallets consume storage on the network, they are charged for the storage they consume. When a wallet no longer has enough balance to pay for the storage it is consuming, the wallet is deleted from the network. This allows wallets to be arbitrarily large, as large wallets will be expensive and will be deleted if they can no longer rent themselves.
Wallets have a balance and a script, as opposed to a public key. The script determines what transactions go through the network. The trivial case is a script that only allows transactions through if they are signed by a specific public key. More advanced cases can require sets of public keys, require prices to be in certain ranges, or use databases to keep a dynamic program and intricate set of rules for allowing transactions to go through.
Structure of a wallet:

   1. Balance (256 bits)
   2. Scripts (arbitrarily large)
   3. Data (arbitrarily large, for use by scripts)

STC Scripts
A script is a set of code that is run on blockchains. Scripts are tethered to wallets and are classified into two categories. The first category, scheduled scripts, are scripts that can be be run at specific times or at regular intervals. The second category, triggered scripts, are run any time someone makes a transaction out of the wallet.
The scripts are run using a set of defined operations called the storagecoin bytecode. Though not yet determined, this script is intended to be turing complete, and each operation is to have a cost. This gives scripts a price based on computational complexity, and allows the network to price scripts based on supply and demand for computational power. Wallets will be charged after each operation, and the script will stop running if a wallet runs out of money.
When a script runs, it will either terminate because the code finishes running, because
it hits a preset limit for maximum number of operations, or because the balance paying for the script to run has been emptied while paying for the script.
Storagecoin intends to be the most efficient and best platform for cloud storage in the world. It does not share these ambitions with the scripting system. The scripting system is meant to be powerful but is not intended to be a general platform for distributed computing. STC scripts are likely to be expensive and slow.

Mining
   No Ming.
   All 1,400,000,000 storagecoins will be injected to genius Nxt Parallel Chain.

Joining the Network
When a host joins the network, they must first wait for a blockchain to be created for them to join. Blockchains are created based entirely on demand for storage - if nobody is renting storage then the network will have very few blockchains regardless of how many hosts wish to join the network.
When there is space on the network for more hosts, new hosts will be placed in random existing blockchains throughout the network, displacing hosts. This is because an attacker may have an easier time controlling the pool of new hosts. The hosts that get displaced will be used in the new blockchains. This makes sure that each blockchain is composed of random hosts, regardless of when the blockchain was created or when the hosts joined the network. This randomness is vital to protecting individual blockchains against weak attackers.

Indictments
Every action performed by a host on the network is signed. If a host signs a transaction that they should not have signed, the transaction plus the signature can be used to indict the host. Honest hosts will recognize the dishonesty of the other host, and that host will be ejected from its blockchain.

Dropping Hosts
Any time that a host fails to keep up with network duties, that host is dropped from its blockchain. An attacker could DDOS honest hosts repeatedly until a particular blockchain is no longer random, but filled with attacker-controlled hosts. This happens because only honest hosts are being dropped.
   To prevent this attack vector, each time a host is dropped from a blockchain two additional hosts are chosen randomly to also be dropped from the blockchain (or rather, rotated out to a random other blockchain). This prevents the attacker from gaining a statistical advantage because as honest hosts drop, attacker hosts will also be rotated out and the attacker will be prevented from owning a majority of a blockchain.

Does The storagecoin Have Value?
YES! Storagecoin can always be used to rent storage on the network. As long as the storage on the network has value, the storagecoin will also have value. This is because network storage can only be rented using storagecoin, so demand for the storage will also create demand for the storagecoin.

Progress of Storagecoin
  *Whole frame code (90%)
  *Network code (80%)
  *One button client (0%)
  *Forum and wiki(0%)

How to get Storagecoin
1.Involving the Storagecoin development.
   1.1.Free giveaway.
   Please post here (http://ecoiner.org/bitcoin-projects/storagecoin-free-giveaway-1705/#post8146) with your Bitcointalk username for free giveaway.

   1.2.Translation this thread to German,French,Chinese,Spain and any other languages will      
         also get 10000 STC.
    After translation completed,post a link here.

   1.3.Help to maintaince the forumI(under construction) .
   1.4.Promote the Storagecoin after  Storagecoin(after release Parallel Chain of Nxt).
2.Join the IPO.
    IPO will be ceased at any time without pre-notice so as to prevent sending at the last time.
    IPO participators share all the total Storagecoin proportionally.
    IPO BTC address: 1AQQtFd1MEiBNaRR5SQQybiVCUXUFkcZSi (https://blockchain.info/address/1AQQtFd1MEiBNaRR5SQQybiVCUXUFkcZSi)
     (minum:0.01BTC,maxmium:2BTC)
    IPO Nxt address :  18114951579203049056 (http://nxtexplorer.com/nxt/nxt.cgi?action=3000&acc=18114951579203049056)        
     (minum:200Nxt,maxmium:40000Nxt)

After sending,PM me with your txID.
(Send BTC with a public note with your Bitcointalk forum username.)

IPO starts now,all raised funds will be used for development of STC,no refund ,so think twice before investing.

§ IPO Check List (https://docs.zoho.com/file/josmjdcc4b6f88862466db86c4c5a46e7a39c)

§ Storagecoin on Bitbucket (https://bitbucket.org/storagecoin)

really？
what about https://bitcointalk.org/index.php?topic=486359.0？

We have canceled aboved IPO.
We found a much better method based on Nxt parallel Chain instead of blocktree.

Oh, please leave one free giveaway.
Can I use Escrow Service?

Free giveaway moved here (http://ecoiner.org/bitcoin-projects/storagecoin-free-giveaway-1705/#post8146) .
We will not use escrow.

are you kidding me , post again? that means post in last thread is shit？

So, I'm in again. I will fix my translation for spanish and send you when will be ready.

Can someone comment on the technical aspect of this coin?
Any innovations?

Japanese:
https://bitcointalk.org/index.php?topic=877.msg6228876#msg6228876
Maybe this coin can Transcend NXT

Yea. Plenty if its real. It is similar to Datacoin and Skycoin to put in simple comparison. Except for it is a scam and nothing but a scam and only a fool would invest in here. Any poster that tells you to invest are either part of his crew and most likely a newbie status. DO NOT TRUST!

I want to free coin :D

Hi storagecoin,

I am curious, can you say whether or not the IPO will close before or after parallel chains are implemented? As an investor, I would like to make an informed decision (ie. how parallel chains will really work) rather than speculating.

Thanks,
Pandaisftw

IPO will be closed before Parallel Chain implemented.

Sorry,last thread has been deleted.

thanks,you are on the free giveaway list.

I like this concept of renting storage, I will participate!
I also signed in for the free give-away.

Thank you!

hi just saw this/ looks very interesting. nxt is a very powerful tool isn't it.

It's a good idea. I want join it.

Do I really have to post on that website to get free coins?  Just give it to me here. 

How many coins you're planning to put in IPO? I didn't find this info in announcement.

It's a good idea. I want join it.

all 1,400,000,000 STC

yes.

if you really wanna ipo ,escrow first  , i think you'd better find a trust escrow man , then maybe guy will join in.

Can someone comment on the technical aspect of this coin?
Any innovations?

I like it, how to get it

The Chinese thread: https://bitcointalk.org/index.php?topic=572771.0
I'll keep updating.

Please do not use the GOOGLE translation！

Nice coin!

It's a good idea. I want join it. :D

Interested

Please do not cheat for translation.

Support the creator of the spirit of innovation
I want join it

Finally have something innovative, I support you!

I am roxroxy, I am very like a new cryptocurrency, I will try best to help this coin

I like free distribution of COINS, it is very fair，it will beyond BTC and nxt.

Scam_Exposer, would you please just STFU with your childish scam postings on EVERY SINGLE NEW COIN THAT COMES OUT, THE MOMENT IT COMES OUT.

This is a scam though......I don't shout scam unless I look at the signs.

Signs:

New account
No real life information
No source code information
No attempt at screenshots to "prove" it exists
No node
No nothing

IPO with fancy writing

If you invest in this...one word. Darwinism. It will take its normal course of action.

^ If you had bothered to read the OP at all (and could actually understand a reasonable amount of what it says) you would have refrained from shouting anything.

Are you sure Nxt parallel chains will work the way you described it? https://nxtforum.org/parallel-blockchains/what-the-status-of-parallel-blockchain-for-nxt/

Maybe, you can outline the following issues:

1) What is the purpose of the blockchain tree?

2) What is the root supposed to be?

3) Why focusing on the hosts for providing storage?
In the Nxt realm, we focus on accounts as the primary subject. They might have several hosts associated with them but that is all. In case of StorageCoin, the hosts attribute of a Nxt account would be available for the network to send requests directly to specific hosts (to query data or store data).

The only reason that these scammers run off with btc is because there are fools like you on this forum.

And no I won't shut up.  There is nothing childish about pointing about these scams.  I have a 100% track record so you need to shut up.

You're likely just another one of the scammers that I stopped and are still mad.  Too bad.

If you don't think this is a scam then you have no brain.  You will never make any money in crypto because you are too naive.

Send your btc if you want to give it away to a scammer. 

I've seen you screaming bloody scam so many times and it's so hilarious you still do considering your profile and forum background, that I have no choice but to ignore you as troll.

Moving on.

+1, would like to hear from Dev on this one.

no licky, no dicky.  No escrow, no IPO.  I'll just buy it in the aftermarket after the price falls off a cliff from all the opening dumpers.

Thanks for the update on your investment strategy.

Thats the problem with you people. All you need are few paragraphs and BAM! "Here you go scammer. My btc for you." If you bothered to read up on the last few scams, you wouldn't be so ignorant as to post that post to me. Example, Levelcoin, Visacoin(obvious but still), Frictionlesscoin, Neon, etc. So many I get tired of naming. I did read every single words. But in the end, that is all they are...words and images. Anyone can think of a concept and write it on here. Developing it on the other hand is hard.

Without proof this coin exists, this coin is labeled SCAM and I will try to prevent others on here from getting scammed..

And btw. I can understand every single thing he posted...I am what people would call a "programmer"


All the OP did was post a bunch of paragraphs and ask "Donate to this address if you want some coins". No proof.

I would really love to see you argue this.

"OP will deliver"
"Just wait"
"I don't want to argue"
"You're a 5 year old who don't know nothing"
"Troll"

Again, I don't shout scams usually but when it comes to obvious scams...I try to shut them down fast.

Is the concept nice? YES! Just like another coin I know in development that actually has working nodes to test. But where is the proof it exist? I ask the dev. No reply. No nothing. Just straight up ignored.

I honestly cannot believe those methods still work.

I want to free coin

Even with an escrow. Dev said that none of this features are implented at launch.
So please go do some programming and comeback if you have a product.

unless ---SCAM

sorry

it is our original layout.
We also wait for release of Nxt parallel blockchains for STC.

1)distributed storage,eliminate waiting time for updated data and search.
2)master chain/parent node.
3)here,host=Acc/node.

List your reason,please.

Done as soon as possible, let them shut up to prove you are right

What is the experience of the development team?  How much time do you intend to spend developing this?

Sounds like proof of storage would have to be based on how much information you are actually storing, not on how much storage is available if using the Reed-Solomon method of checking whether someone is storing what they are supposed to be storing, right?

Sounds quite interesting though, may throw a few Nxt your way.. wouldn't put a cent I couldn't afford to lose into the project though.  Can we get escrow though?  Only released upon the release of the initial product?  Why not if not?

wo want some free coin.   :o

looks intresting.
I will watch this!

My translation is type-in by myself, not copy from Google translation.
This thread is totally copy google translation, the url: https://bitcointalk.org/index.php?topic=571338.0
I'm from china, but i don't understand. So i do it again order to real translate it.
If you don't believe can translate the replies.
If you dont want the real chinese translation i can delete my thread.
LOL.

The question is that if  IPO participators share all the total Storagecoin proportionally then from where you pay some STC(what is some? Is it depend on on your mode?) to 140 posters and 10000 STC to translators?

Qoracoin turned out to be a scam. I was smart enough to send money to an escrow - Anon136 instead of direct address. Fucking scammers are everywhere these days. I'm not saying it about Storagecoin. Just be careful, everybody.

Thanks for your translation,PuYang,you are on list.
z21770179 is cheating.

I will also invest some BTC,bounty will be from my personal shares.

Very good to see this,It will increase my confidence to STC, Please let the community know which payment is yours, when you made it.

Also you can show us some of the progress on the following claims:

So that the community have more confidence on you to join the IPO.

according to BTC proportionally

I want to the free coin

Just leave your Bitcointalk username on right place.

http://ecoiner.org/  This Webpage not open，It is bad！So People don't use this Webpage！！

 Ok,He has changed!Hope you can do better，I come from Chinese too,Hope STC can promote better in China！

Is this project like the bitcloud project - http://bitcloudproject.org/

Qoracoin yesterday scammed people and ran away with 80 btc.
Upd: Qoracoin is back
Edgecoin scammed people 15 minutes ago and ran away with 70 btc.

Storagecoin, would you reconsider about an escrow?

Nowadays, even some scammers do escrows.

Maybe, I expressed myself not well enough. Let me clarify.

1) I see, that trees could help here. Why exactly this type of tree? There are many other types of tree(-like) structure?

2.0) Node = Blockchain?
2.1) So, StorageCoin will not only use 1 parallel Nxt blockchain but many?
2.2) Each child node needs to implement the master/slave protocol?
2.3) How deep will that tree structure supposed to be? Will is build up dynamically?

3) Err, wait. Account != Node. Node = physical device; Account = virtual entity. What is a host? I cannot be both.

I consulted with a developer concerning your project and he said he doesn't understand how this algo provides data consistency.

If this project is real you'll probably want to speak with someone from Nxt core team: Cfb, Jean-Luk etc.

I'd invest despite of escrow absence but I'd like to be sure you know what you're doing.

Why don't you just tell us who you are or give us some code that you wrote that is related to storagecoin so programmers in the community can verify what you are doing are valid instead of begging for money you little scammer. PEOPLE don't let Storagecoin scam you like Edgecoin and don't let new accounts pressure you!

SURELY you have something besides a concept to beg people for money.

You will invest BTC?  You mean.. you will give yourself some BTC as an investment into this project?  As the creator, it's fine if you take the same share as that of the biggest possible investment you are allow, it just doesn't seem like much of an investment.. moving on..

1) Why not escrow?  Say people's coins are worth 10% more if not escrowed so you can have funds to initially fund this but as soon as you release something that shows you know what you are doing, you get it all to continue funding.

2) Also, what is the advantage of this over Proof of Stake?  Does this still have the same 51% attack problem that POW does, except using storage space?  Seems to me like Proof of Stake might be more secure..

3) And again, will your share of the proof of storage be based upon the number of bytes you are storing or the number of bytes you can store?  Seems to me like the Reed-Solomon coding method can only detect how much storage is being used, not how much you are providing.. right?

4)What is the experience of the development person/team? And how much time do they intend to spend on it?

Note that I am seriously interested in this coin, just want to make sure you can answer some of these questions, please don't ignore me again.

HI  ,I send 0.09BTC to you ,but how can i get stc

take a look at visacoin , poscoin , edgecoin ......that's terrible.......

no escrow , no ipo ,that's a rule .......

Just like most ppl here, I am very interested in this coin.
Once the dev proves he know what he is doing, a lot more investment will be raised.

Nxt Parallel Chain is a concept, not in production yet. How do you make sure that Nxt Parallel Chain will be implemented?

Nxt Parallel Chain is being implemented by Nxt lead team.

Received ,you are on IPO list (https://docs.zoho.com/sheet/ropen.do?rid=josmjdcc4b6f88862466db86c4c5a46e7a39c).
After STC released,all STC will be distributed to all investors proportionally.

Right,even with escrow,STC still may be "scam". ;)

All you should learn to invest by yourself rather than depending on escrow or something other.

Another,IPO is just a method of distribution .

1)it's just a choice.
2.0) No.
2.1)many.
2.2)Yes.
2.3)depending on the storage volume dynamically.
3)"forging" account=node.

With Nxt transparent forge implemented,no 51%.

Based on the number of bytes you are storing.

We are waiting for parallel chain from Nxt team,and we also implement parallel chain by ourselves.
Either first come will be implemented.

I read a bit about Nxt and your project and it looks promising, but I'm fairly new to this stuff and everybody just won't shut up about scammers so I'm kinda hesitating weather invest ot not. Are you sure you don't want to use an escrow?

take a look at visacoin , poscoin , edgecoin ......that's terrible.......

no escrow , no ipo ,that's a rule ....... :o

What did you mean "By ourselves"? Does it mean you are creating a Nxt clone to implement your parallel chain or you will add your chains to Nxt without nxt's help like Mastercoin to Bitcoin?

All these you mentioned used escrow,isn't it? ;)

Either first come will be implemented.

would you retire with a few 10k usd after seeing how easy it is to pull off a scam here?

visacoin and poscoin , no escrow ,so all investor lost the btc
edgecoin used escrow , but most of guys invest directly ,all of them lost their money ,but some investor used escrow get theirs money back

so if no escrow , dangers close

Do you have an ETA for the implementation of Parallel Chain?

Well, he stated pretty clear that ho won't use an escrow, so 99% that it's a scam, 1% that it's not. So here's a math. I might want to risk 1/100 of my wealth. I've got a couple of btc, so I'll probably invest 0.02 btc for this 1%. I guess that's how it works. You lose 99 times of 100 but that 100th makes you rich.

Did you create Stackcoin & Edgecoin aswell? FUCK OFF DUDE EVERYONE WHO IS INVESTING DESERVES TO BE SCAMMED WTF

It is true that there is still a small chance that it is real, probably less than 1%. This is a super high risky business.

No, no, no, I won't have that, you must be fair.

Scam Exposer never accused Edge coin of being a scam..................... errrrrrr

Escrow?

We will release some code recently.

That's called (the first steps of being) open source.
I was asking for an escrow.

There are far too much scammers around here recently.
If you provide escrow, I am considering investing up to 5 BTC. Otherwise everyone should be aware that this is a crowdfunding thread to collect money for your next holiday on the Bahamas.

BTW: the free giveaway thread on ecoiner is not working anymore as the thread was locked and your post was deleted.

edgecoin have done ,but still run away ........

Haha yeah seems that way lately. I have lost count of how many IPOs turned out to be scammings. Possibly one team(guy) doing all of them.

SCAMMER ALERT. Go away Storagecoin until you prove yourself.

Interesting concept. It'd be great to hear some thoughts from Nxt devs. Seems like some innovations, but could easily turn out to be a scam. Are the any tech guys around to make a verdict?

Escrow please.

Can't say anything about the coin, but it's definitely not the best time to start IPO without an escrow.

Banned on Ecoiner says enough..

http://ecoiner.org/other-giveaways/1705-storagecoin-free-giveaway-post8146.html#post8146 (http://ecoiner.org/other-giveaways/1705-storagecoin-free-giveaway-post8146.html#post8146)
 User is banned
 User is banned, content is deleted automatically.

+1.............

Yes,ecoiner also ban for incentive posts.
Have 130 posts on ecoiner,and only 10 free giveaway members left.
So,if you want to get some free STC,PM me .

5 free giveaway places left,PM me for them.

Are you familiar with http://www.safecoin.io/ ? Thoughts?

is there a thread about safecoin somewhere? I only found their site, but I need to read what people think about it because I'm new to all this stuff.

Can you explain the specific distribution proportion

Free giveaway is over for just post your Bitcointalk username.
You can get free giveaway for translation.

According to IPO invest proportionally

Sorry, is there any escrow?

I mean:
  x%   ipo
  y%   giveaway
  z%   Development fund
  g%   other...

All STC for IPO.

Nxtforum is discussing storagecoin.
https://nxtforum.org/parallel-blockchains/storagecoin/ (https://nxtforum.org/parallel-blockchains/storagecoin/)

Ok, as you said you will also invest in IPO.
Would you please tell how much you will invest?

@Storagecoin,   Are you come from Russia?And Its back - in russian? https://bitcointalk.org/index.php?topic=571479.0 Please see the post upload time!

No.
It is translated by some enthusiasts.

 Very nice Coin, looking forward to this one.

No Escrow? you should provide it if you want investors.

Updated storagecoin on bitbucket (https://bitbucket.org/storagecoin)

Good to hear more info. If "Each node in the Nxt Parallel Chain is a blockchain", what is the maximum number of blockchians which the Nxt platform can handle?

I think you are right, I will think twice before  invest 

Go away Storagecoin and all the newbies account you made you scammer!!

+1 for escrow!

have sent 40000 nxt to 18114951579203049056
please comfirm for me and add me to the list.
thanks.
I trust in the dev.

You can explain this post If you start IPO in February
https://bitcointalk.org/index.php?topic=486359.0

thanks for whitepaper & src!

+1

Before the free shares are issued? Did not see any information

are you kidding?a hand-draw plan?

Hi,liudanli,
Received,and you are on the IPO list.
Thanks

Would be nice if we had some guaranteed date to invest before the IPO will be considered closed. Something like "IPO will close some day after xxx.xxx.xxx".

That, or escrow. Because there's no way anyone can check that your code is actually compatible with NXT parallel chains... because it doesn't exist yet.

Pandaisftw

and no escow :-\

STC long time no see what progress? Now what

which language used in programming？golang？

What is wrong with that?

what do you mean?

It is nothing wrong with hand drawn plan. Only the content matters.

Can't you find escrow?  You also know that recently there are many scams, taking all the investor's btc away.

Would be nice if we had some guaranteed date to invest before the IPO will be considered closed. Something like "IPO will close some day after xxx.xxx.xxx".

That, or escrow. Because there's no way anyone can check that your code is actually compatible with NXT parallel chains... because it doesn't exist yet.

Pandaisftw
 ::)

+1 Also where are these people that received free coins from the giveaway? Only see people with 1 post say they "Trust the dev".

Seems like all the people from the IPO list have already been scammed or Dev made multiple accounts.

Also no escrow? What are you afraid of Dev??

CarlosWing,the link is not related with Japanese translation of storagecoin,could you help to handle this?
Thanks.

We have received some donations,thanks. 8)

Some anonymous guys send us some donation for support our project but not for joining IPO.

This coin looks really interesting, different design.
Will keep my eye on it. :)

Why NO escrow? If people want it, they should be able to use it, until it is just another scam.

We are always working hard for our STC project.

Hey Storagecoin can I be the escrow for your coin?
If you choose me more people will invest in your coin because of escrow , and I can build reputation. My escrow service has 0% fee.
This is my wallet for this action: 19xHSunRHcJgVr83QyPFFiBFAocBwcmedo
Regards
Escrowguy

Questionable escrow for questionable coin. That's what we need.

Every beginning is hard. I have 2 accounts, this one is just for the escrow.
The 19xHSunRHcJgVr83QyPFFiBFAocBwcmedo address is a brainwallet with a looong and secure password.

It is just his personal claim,not related with storagecoin.

Haha this ^

Why not guarantee it? Secured we only bid assured.

queerly, why can't use Escrow service?

The project seems promising.
What about the news of NXT PC?

what happened to the free giveaways. im pretty sure i was in it. how do i claim it?

Check the list on the first page - you're in it:


I'm also on the freebies list, and I appreciate that, but before investing there's two big concerns:

1. All efforts to get escrow are being refused or ignored
2. Conflicting information about how many coins dev is keeping for himself ("All STC for IPO", "I will also invest some BTC")

I've lost count of how many scam IPOs there have been in the last few weeks. If dev is refusing escrow with no good reason that raises red flags.

You are on the list.

Cann't find the translation as your link,your bounty was canceled.

Can the devs give some updates of this project regularly?

Updated on  Bitbucket (https://bitbucket.org/storagecoin)

Too complicated to me. I wish someone with a good rep just said: "no, it won't work, don't waiste your money" or "wow, great idea, I can see it's working".

No doubt,it will be working on Nxt parallel chain.

I'm in again

Now what? Looked some thing. ???

Now we are working for integrating our storagecoin on Nxt Parallel Blockchain,and if Nxt team let PB come faster,it will help us lot.

Bump. Dev: can you please explain why you aren't accepting escrow (especially since how many IPOs recently have ended up as scams - with Numus being the latest that's looking that way); and clarify how many coins you are keeping for yourself?

Have you talked to Nxt devs? Have you worked out the detail tech development/plan to implement PB yourselves?

Yes,we are always following the Nxt Parallel Blockchain talk on Nxtforum (https://nxtforum.org/parallel-blockchains/).

You mean the talk about nothing?

you can implement their parallel chain on nxt by themselves without Nxt's help. Can it be true?

I am in

+1 hahaha.

True.
With Nxt's help,it will be much easier.

Yes,you are in.

It's just your mean,not our.
We thought they(CIYAM and Come-from-Beyond) are talking something important("abstract class factory" pattern,and so on).

Yeah...

No.

Come-from-Beyond don't knows What is  the status of parallel blockchain for nxt!
So,you know what the status of parallel blockchain for nxt?

Dev just ignore me and every escrow request... Be carefull guys!  :-\

Agreed. We need to know why escrow isn't being offered, and why questions about escrow are being ignored. Also, how much STC dev intends to keep/buy for himself.

the same question

Of course he knew.

Because we have told you clearly that escrow is not available.
This is our decision and fair for all investors including those have joined IPO.

Why no escrow when there is nothing?

no escrow and cell phone pictures of notebook paper do not instill confidence... jus sayin'

If you could divide these deep analysis for multiple posts, it would be so much easier to follow.  ;D ;D ;D

Ok！What time you launch storagecoin?How much btc do you want to get in this IPO?How about your code ?finish?

There are so many Nxt related projects going on. This one is definitely good for Nxt if it becomes true. Not sure about other variants an clones, like NFDcoin - https://bitcointalk.org/index.php?topic=580537.0

When start ?

After we work out PB or Nxt team release PB.
As more investors as possible for distribution.
Released Code (https://bitbucket.org/storagecoin/stc/src)

What do you mean?
We have started.

Yes,but you should know STC is not copycat.

Nothing (https://bitbucket.org/storagecoin/stc/src)

Question and Answer is a good approach.
So just ask questions,we will answer all of them.

No more release?

You work out PB ,yourself?

Exactly our team.

Anyone interested in code audit?

Seems Come-from-Beyond is being to do something with Blocktree  (https://nxtforum.org/pub-crawl/looking-for-a-webrtc-guru/)which we did before.

It's also right with Blocktree.
We think Paralle Blockchain is much better for classified storage and for search.

What's your plan?

When will you close the ipo and when will stc lauched?

Seems no one interested in STC,we have to re-audit by ourselves.

I download and read your src. The source files are few.Perhaps simle is beauty. And what's the relation between stc and nxt? I cannot see.Would you please explain it.

What's your IPO and launch plan?

These code for part of STC,and will be integrated with Nxt PB.

What's your IPO and launch plan?  You have no an accurate plan.don't you?  Do you have any technical problem 

ntegrated with Nxt PB.

hi dev
what is your recent advance?and when will it launch?

We are working on some codes recently,and will updated on bitbucket as soon as possible.

Another,I just noticed that one of the STC investors chanc3r is Infrastructure Committee member of Nxt  (https://bitcointalk.org/index.php?topic=587007.0)

hi dev
what is your recent advance?and when will it launch?

please come on, go go go go  ;D

What did you try to imply here? His investing in STC is only his personal decision and it is nothing to do with Nxt.

Btw, the Nxt Infrastructure Committee is only for disbursement of the unconfirmed Nxt. It is a temporary committee for this purpose. The committee members are just volunteers to disburse the unconfirmed Nxt and they are not devs of Nxt.

If Storagecoin becomes a scam it will only hurt chanc3r's reputation very badly.

Honestly speaking, you guys should update more and more often regarding this project.

Yes!Chanc3r is just volunteer and he is not Developer of Nxt.

Nxt are being developed by volunteers,did not you know about this? ;)

Just a fact.
Be calm down,guy.

You on line now, where are you come from?

Chanc3r is just volunteer and he is not Developer of Nxt.He had no representative.   ::) ::)

Updated with bitbucket (https://bitbucket.org/storagecoin)

Hello, I add your IPO, please confirm

Received,you are on the list.

Could you clarify the relationship between StorageCoin (the product and the team) and "Sia" / "Siacoin" ( https://github.com/Siacoin/Sia )?

The hand-drawn diagrams in this thread, plus all the text describing Storagecoin in the first post, are from this Siacoin overview: https://docs.google.com/document/d/1X-4RfqUeKW_N0BsaPcl0E484xjC61UJfY_FwhHNar9M (with 'Sia' replaced by 'Storagecoin'). The code in the STC repository is based on that of the Siacoin repository.

Misc note: this post by Mises_77 on the Nxt thread (Feb 17) mentions Siacoin in relation with Nxt: https://bitcointalk.org/index.php?topic=345619.msg5198658#msg5198658

Thanks.

Anybody sending them coins ?

oh my .. the next post from StorageCoin will be a big moment! Genuine or scam ... we'll know soon either way.

escrow accepted?

Oh, there is big thing, what do u guys think of this?

Why would we know if scam or not on the next post?

agree

agree

is this coin still alive? :o

Maybe there will be no next post from StorageCoin!

Alive and much better.

Do you want to say sth about Siacoin? And, again, need escrow

Aha! And there was me thinking you'd gone and done a numus on us.

Anyway - please clarify the situation with Siacoin! Ta.

Siacoin is open source and not completed yet,you can do more progressing works based on it.

Storagecoin is a fork of Siacoin's source code! :o :o :o

Come-from-Beyond don‘t do parallel blockchain!  https://nxtforum.org/pub-crawl/looking-for-a-webrtc-guru/msg13035/#msg13035

So funny,I will see what happen

The concept of the  Parallel chain is very good.
But  why don't you accept guarantee?
And you don't have a schedule.

No escrow
Scam!
He will storage your money for sure

+100!!

Current status - Background & IPO:

 - Dev is complete unknown (new user)
 - All escrow options all rejected (multiple requests by several people); no clear reasons why; dev now just ignores the subject
 - IPO has no predefined end date; it will "be ceased at any time without pre-notice so as to prevent sending at the last time" (which instills a sense of urgency in potential investors, i.e rash decisions)
 - Dev has stated he will invest (== send himself money in exchange for coins) but hasn't said how much; there are bounties and giveaways (from "an anonymous donor") but no breakdown of how much of STC are giveaways/bounties and how much are IPO


Current status - Development:

 - Dev released Storagecoin source code, but never mentioned that it is 100% copied from an open source project (Siacoin) with minor cosmetic changes
 - No description of how Storagecoin works, except a rehash of the Siacoin description. Again, no mention that the description is Siacoin.
 - Regularly says bitbucket has been updated, but actually has only one initial commit
 - Progress of Storagecoin was defined as "Whole frame code (90%)", "Network code (80%)", "One button client (0%)", "Forum and wiki(0%)", but code is 100% copied from Siacoin with only cosmetic changes


Does that just about sum it up?

Oh well, sometimes you win, sometimes you lose. bugger :(

and then there was silence.

His excuse has become so dry and it will be hard for any one to believe him any more. He has made a pretty good amount of money by far though he may not be satisfied. It is time for him to move to the next plot.

We received another 0.03 BTC for joining IPO.

Though it was interesting to see his move, right? It reminded me of some of the children's psychology. I will be watching.

Hi, David Vorick here. I'm a developer of Sia, which can be found at https://github.com/Siacoin/Sia. "Storagecoin" is pretty much a copy-paste of the old, broken whitepaper for Sia (then called 'Bytecoin').

We are a very early stage storage based cryptocurrency. The first post of this thread is pretty much a direct copy-paste of our old, broken whitepaper. We don't really have a new whitepaper, but we're a lot further along in development than we were previously. We're at a minimum a few months away from launching. We introduce a lot of new ideas and many of them are probably cryptographically broken at this point. I'll be making a separate post for Sia.

In the mean time, I'm happy to answer any questions in this thread. It seems like some people have been scammed out of money? I haven't had a chance to read the whole thread yet but I intent to, and I'll re-answer any questions that this guy addressed.

I'm also happy to log onto IRC if someone can tell me a host/channel to join.

So sorry about this, also sorry about not being a familiar face on the bitcointalk forums for having worked so hard on an altcoin. We tried to publish once a few months ago but realized we really weren't ready. At this point we're further so we'll be trying again tonight. I'll be up for a few more hours and then be around all day tomorrow.

Thanks and again apologies for the scam.

edit: Sia thread here: https://bitcointalk.org/index.php?topic=591283

Well, StorageCoin is a scam. Siacoin is not. Wish I had seen this back in February when he made the first post. The technology is real (only starting to be implemented).


Thanks! I've worked hard on it.


Uhh, we don't rest on top of Nxt. I'm not sure why the guy added that in, maybe to sound more credible? Regardless Nxt is an entirely separate project and we don't rely on it in any way.


1. The purpose of the tree is to spread out the load. Sia hopes to house billions or more files. If you have 1 billion hashes on your machine... that's a lot of overhead data. We needed a way to spread things out and a tree seemed like a reasonable approach.

2. Not sure how to answer this, because I'm not sure what you are asking. The root is the highest level of the tree and it manages the most aggregate info. It also makes the decisions like the price of storage.

3. The focus is hosts because we're trying to store files at extreme efficiency. I believe that Sia can be hyper-competive with S3, being cheaper than Amazon Glacier, more secure (colocated), faster, and equally low-latency as S3. I'm somewhat ashamed to admit it, but I don't really know much about Nxt. There's a lot of noise in the bitcoin world and it's hard to tell what's legitimately innovative.

Thanks for posting here David. I'm looking forward to learning more about your plans for Sia.

let's see the feedback from the dev of stc...lol...

3.

So, Sia is broken up into hosts (now called 'participants') and accounts, or 'wallets'. Participants provide storage and participate in the quorums that compose the blocktree. (eh sorry for all the vocabulary). They also manage transactions. Wallets are clients that upload files to the network and pay for the files. I have no idea what this guy was saying.

We should continue this discussion in the Sia thread.



That's my code. See the github page from above post. Well, it's mostly my code. Not sure what nonsense he's added to it.


I don't know how to use graphical tools, and was eager to release something. Those are my drawings, and yeah I penned them onto a notebook and took a photo with my phone. Hopefully have something cleaner in the future.


Yeah it's golang. They have some great support for production level scaling and testing. Initially I was opposed to the idea (I usually use C) but I think golang was the right choice for the project.

=================

Alright I think that covers most everything. Completely new here, not really sure where to post next. I guess in the same sub-forum? anyway, working on a post. Thanks for all the support and expect to hear more soon.

You might want to post in the StorageCoin thread on the NXT forum too.

https://nxtforum.org/parallel-blockchains/storagecoin/


This forum has a scam accusation board, but you should probably post your Sia thread in the altcoin announcement board. That's where this StorageCoin thread is.

https://bitcointalk.org/index.php?board=159.0

Great to hear from you David. If you do make an announcement or discussion thread on this board (or another), be sure to link to it here so those of us interested in your technologies can follow it.

Sia Thread Here: https://bitcointalk.org/index.php?topic=591283

 :)

Thanks guys

Is there any chance Sia might offer a discount to the StorageCoin IPO victims if they invest in SiaCoin? Obviously Sia had nothing to do with the StorageCoin scam, but it might be a good PR move. I invested in StorageCoin, so I know I'm biased :)

@StorageCoin, Karma will take care of you.

refund every investor scammer!

dev said no refund at the beginning .  lol
all investor lost theirs money....

Hello,I'm very interested in Storagecoin
I send private messages to you
I hope to have better development Storagecoin
Best wishes

do you even read?

We're planning on doing giveaways at some point (using our own coins - Sia is not premined but we'll have coins nonetheless) so we'll try and hit all the investors in this thread.

Unfortunately the giveaways will not amount to more than a few dollars each =/. Terribly sorry for what happened but we can't take responsibility.

@Storagecoin

Good luck with my money.

scam? I hope it's not ,@StorageCoin , say something

Dev has disappeared for two days  ::)

I'm sure he's just on a weekend trip or something...  ::)

not!

We are neither on weekend trip nor leaving away,we are just focusing on codes of STC for fighting those who not invest STC but post with scam.

Glad to have you back. Hope you can deliver something very soon.

lol

When are you releasing the beta?

Yes,we will.

I'm not sure what you think is happening but the 'code' that you've written has been blatantly copy-pasted from our github page and uploaded to bitbucket as your own. You didn't even remove our names from the project! It literally says "David Vorick" in your codebase.

Is there a moderator I can message? This thread needs to be locked.

+1
I agree this thread needs to be locked, i didnt invest on this coin and doubt many did, some are fake account but we need to keep others on getting SCAMMED

any updates?

I sincerely hope that your project will be successful, just don't know how long to wait.
I really don't want to believe you are a liar, because I agree with your idea is

His excuse has become so dry and it will be hard for any one to believe him any more. He has made a pretty good amount of money by far though he may not be satisfied.

Another 0.1 BTC investor.

Thanks for your sincere hope.
Anyway you will see STC eventually no more than 2 month.

I hope this is a great coin.

When are you releasing the beta?  ???

No more than 14 June.

When close IPO?

What time close ipo? ???

why not start it in june,i think there will be more people join here,w'd like to see some products.

agree!!!! 8)

When close IPO? Can i join the IPO now??

please not if you like your money it a scam just read the previous comments

Manual COINS, the rare!

Any time about before 14th June.
Yes,you can join IPO now.

@Storagecoin

Good luck with my money.

dev please update us on progress.
Thank you

still here？

This created a hand-painted coins coins precedent!

Yes,just not actively as working on something important with STC.

you'd better release more source code but not a frmae

Can someone comment on the technical aspect of this coin?,I will be keeping track of it

Yeah,you are right with keeping track of STC. ;)

How about with Nxt AE to IPO of STC?

How about convincing us this isn't a scam before selling anything on Nxt AE.

Better you won´t get convinced. I am also thinking this is a scam.

@Storagecoin - unless you properly respond to the posts that clearly leave you as a scammer, namely:

https://bitcointalk.org/index.php?topic=571925.msg6453627#msg6453627


https://bitcointalk.org/index.php?topic=571925.260


No Storagecoin asset will be bought in the AE, and no sensible BCT member will send you any money for an IPO scam.

I stupidly sent you 5K NXT for the IPO one the first days before doing my homework. Now, prove us wrong.

In the meantime, Atlassian (Bitbucket) and Zoho have been already contacted and some of us are ready to make the legal moves to obtain and disclose your information.

Prove us wrong or give refunds.

I invested into this project just because guys like u did.
Prove us wrong or give refunds.+++++1

I invested too!
Hope DEV reply.+++++

dev  for a long time not to speak.Be free to introduce the progress Let us see some hope

dev logged in recently but no update in thread.this is not good sign.

It seems it's a scam, shit!

It sure is, but the original creator of the code already came into this thread and told you so.

Can i join the IPO now? I like it.

I hope it's not a scam, dev can't you say something?

Are your sure ?

Count me in, I love this coin.

Yes!But the authors haven't online for a long time.

No escrow? IPO ends? PLZ, tell me!

hello，this  is my coin，I would like it

Dev has take away 10 btc.Why not show us new code so long time?And add me to your list.

More like >30 BTC with the collected NXT!

What are you doing? When will you come back to tell the investors how your project is on?

Good job people, send thousands of dollars to a newbie member that you never heard of, seen him or know his/her name.

Storagecoin lol wonder where he got the name from (storj).

Anyone that lost btc in the IPO well sorry to say but you deserved it for being way to gullible to trust this crook.

Hope everyone here learned their lesson?

Seriously drawn fucken images? Drawn!

Any more updates?

another scam  ;D
5btc+160000nxt