Ya I find it really odd. You should have gone with a lower coin total... maybe 1-10 million. And then set aside for example 25% (could be more or less, just an example) for the IPO. Unsold coins would then be kept in escrow for other crowd sales (people are going to be really unconformable with devs holding 90% of coins, should have used escrow). Then the only way to "mine" coins would be proof of storage. Why didn't you make the proof of storage payments automated? By the way how will the coins be distributed in the current set up for storage payments? Will they be sent manually, or through a centralized system? Or maybe I missed something and it actually is decentralized?
Other than that I like these sorts of decentralized applications. Seems to have some imperfections in the way the distribution was thought out though.
Hi, Matt from Storj here.
We completely understand why somebody would feel nervous with how the allocation system for coins is set up. The main reason we freely disclose our personal information is because people interested in the project want to see real names and real faces instead of just a nice looking website and an address -- the fact we put our real information out there should be at least some reassurance that we won't just take the BTC or SJCX and run.
A large portion of the Bitcoin donated during the crowdsale will be going into a 3-of-7 multisig wallet on
copay.io which is already completely set up. This wallet will become the holder of the Bitcoin after the crowdsale is over (wallet address is 3PQwFtfHnL9vC4E6zEgWieQGXV8MeSpfC2). The Bitcoin that doesn't go into this wallet will go, for the most part, to covering past expenses such as travelling to conferences and marketing, as well as toward the payment of full-time (and part-time) developers.
In the early days of DriveShare, some of the leftover SJCX from the crowdsale will go toward the payment of those who rent out their hard drive on the early network. We do not currently have a hard set number for how many SJCX these users will be rewarded because we wanted to wait until after the crowdsale is over so that we are able to see how many coins are left. We feel that deciding this amount arbitrarily, without knowing how many are remaining, would be irresponsible.
For major decisions regarding Storj, we tend to prefer having open discussions with the community and letting our users have a say as well. Examples of this were when we were deciding whether to have Storjcoin X run on the Counterparty on Mastercoin protocol as well as when we decided what to do with the asset squatter on Counterparty. Because of this, there will be more than likely multiple discussions regarding the use of SJCX leftover from the crowdsale where the community can join in.
As of right now, we do not have a set plan on how the early storage payments will be done. It will most certainly have to be automated because our team would not be able to handle a large number of payments. In other words, payments for early storage will most likely not be going through the hands of, say, multiple people.
We apologize if we caused any alarm or confusion with how we are handling things. We are more than happy to provide evidence pointing to the fact that we are an extremely dedicated team creating as good of a product and service as we can. I hope I answered your questions as thoroughly as you were looking for, and I would be happy to answer any more that you have.
Cheers,
Matt
