[ANN] Storj - Decentralized Storage

[STORJX]

EDIT: Well there wasn't much information in the OP or the official site but a quick read of the whitepaper suggests that data won't actually be stored in the blockchain but rather on other people's hard drives. How will I know that my data will stay backed up unless every node in the network has a copy of it - i.e. a blockchain? Doesn't this mean that a few computers in the network can be switched off, break down, or their owner(s) might decide to reformat their hard drives and my novel can disappear forever while the network - oblivious to all of this, continues chugging along?

Yes we won't need a blockchain to store data but we will use DriveShare nodes around the world for that. Everyone can share their extra hd space.
Files will become unavailable when the uploader stops paying for them to be stored at the chosen redundancy. By default the redundancy will be set to 3x.
We will have algorithms and automatic checks on the network (heartbeats) that will allow to keep track of which file chunks are unreachable because a node has gone down or has been turned off.
In that case a replica of the chunk will be made and stored on an another available node to maintain the required redundancy.

As fox19891989 mentioned have a read through our FAQ on StorjTalk.org to get a bit more familiar with the project and feel free to join our forum where you can also ask any question you may have.

[zoro1]

Finally, it is time to make a profitable use of our free hard drive space 

[STORJX]

Factom Use Case - Protecting Sony Pictures with Blockchain Technology

Watch how Blockchain Technology can protect Sony Pictures using Factom and Storj.

[lancher10]

Storjcoin seams cool.

[hammouti]

looks nice
signing up 

[kingnuze]

 I really love what STORJ is doing especially with FACTOM introduced for even more added security... Way 2 go Storj Team..#bethecloud

[wizzardTim]

Factom Use Case - Protecting Sony Pictures with Blockchain Technology

Watch how Blockchain Technology can protect Sony Pictures using Factom and Storj.

Great vid.

[l3mmy]

Factom Use Case - Protecting Sony Pictures with Blockchain Technology

Watch how Blockchain Technology can protect Sony Pictures using Factom and Storj.

Great vid.

This is just the beginning of use cases and partnerships for storj #bethecloud

[mjc]

What price range should I expect for Storj and will it be permanent too?

Prices for storing files on the Storj network will be dictated by the market (supply vs demand). Most likely they will be waaay lower than Dropbox rates.

Keep in mind that price for space is on Storj is one thing and the value of SJCX is another.  Both will be controlled by the market.  the valuation of SJCX will be factor into the cost of space on the Storj network.

[p4ch1nk0]

What price range should I expect for Storj and will it be permanent too?

Prices for storing files on the Storj network will be dictated by the market (supply vs demand). Most likely they will be waaay lower than Dropbox rates.

Keep in mind that price for space is on Storj is one thing and the value of SJCX is another.  Both will be controlled by the market.  the valuation of SJCX will be factor into the cost of space on the Storj network.

So they're not tied together? how are they separated?

[fox19891989]

Storj is still going up, 2 days ago the total sell orders are 1.22 million SJCX, now is only 1.06 million SJCX. Most of 160k SJCX were active bought, it shows the strong buy will in the market. Yesterday big buy orders were filled, whales are full now, huge pump will happen in early 2015

[l3mmy]

What price range should I expect for Storj and will it be permanent too?

Prices for storing files on the Storj network will be dictated by the market (supply vs demand). Most likely they will be waaay lower than Dropbox rates.

Keep in mind that price for space is on Storj is one thing and the value of SJCX is another.  Both will be controlled by the market.  the valuation of SJCX will be factor into the cost of space on the Storj network.

So they're not tied together? how are they separated?

They are tied together in that sjcx is used to buy space on the network but speculators will have an effect on the value of sjcx so as price rises it will each sjcx will have to purchase more and more space on the network.

[mjc]

What price range should I expect for Storj and will it be permanent too?

Prices for storing files on the Storj network will be dictated by the market (supply vs demand). Most likely they will be waaay lower than Dropbox rates.

Keep in mind that price for space is on Storj is one thing and the value of SJCX is another.  Both will be controlled by the market.  the valuation of SJCX will be factor into the cost of space on the Storj network.

So they're not tied together? how are they separated?

The cost of space on the Storj network will depend on the availability of space.  If everyone and their neighbor is providing but no one is really consuming it , the price will be cheap.  If there is more demand that space available it will be expensive.  Supply and demand.  The thing here is that the supply is drive space.

A separate market will exist for the SJCX in the same way.  I might have lots of SJCX and want to hoard it, thus taking it out of circulation.  If many people do this the available supply with diminish thus creating an upward movement in the valuation of SJCX.  If then at a later time there is a flood of SJCX back in to the market the valuation will drop.

Until such time as there is a market directly between USD (or any other currency) and SJCX, BTC valuation will matter.  So the valuation will be USD (or other currency) -> BTC -> SJCX -> Cost of Drive space.  Each node of that map can fluctuate affecting the cost.

SJCX and the price of drive space are more connected than say BTC or USD to the price of drive space, but they are all disconnected.

[xxxgoodgirls]

I was about to invest on Storj back in august, the concept looked totally cool for me, but then I totally forgot about it.
Missed a huge chance, good luck with your project!

[Un4givn85]

I'm fairly new to the cryptocurrency world, but I have a few TB of storage just lying around.  Hopefully, I can be a part of this awesome project!

[mjc]

I was about to invest on Storj back in august, the concept looked totally cool for me, but then I totally forgot about it.
Missed a huge chance, good luck with your project!

I only wish I had found this back then.  I'm glad to have found it now.

[majdog]

I was about to invest on Storj back in august, the concept looked totally cool for me, but then I totally forgot about it.
Missed a huge chance, good luck with your project!

I only wish I had found this back then.  I'm glad to have found it now.

Same here for me. I had no idea that this existed. I am so glad that it does though. I'm very interested in making money off of all my free space.

[p4ch1nk0]

What happens when hard drives become ultra cheap in the future? Say there's a 4TB hard drive available for $50 in a few years. Will this hurt the price of SJCX over time?

[mjc]

What happens when hard drives become ultra cheap in the future? Say there's a 4TB hard drive available for $50 in a few years. Will this hurt the price of SJCX over time?

People use Dropbox and the like for a reason, they want certain to be available even in the event of a computer crash or hard drive failure.  Cloud storage like Storj also allows retrieval from any devices which is really where computing is going.  If I work on a presentation on my laptop I may want to present it from my iPhone with my micro projector for the iPhone.   I think the fact that people will have more drive space, just means that they will have more files that they want to protect files.

Cheaper hard drive space does mean cheaper Storj drive space because more people will put space online through farming.  That is what the network wants.  The money that can be mad will undoubtedly be driven by market forces.  In the beginning there will likely be more drive space than consumption.  As it catches on that will change.  I think over time there will be one or more decentralized storage options and there will be an open market for the consumer.  that is good no matter how you look at it.

[ninjaboon]