[ANN] Storj - Decentralized Storage

[tobeaj2mer01]

Let me brief this IPO
Goal: 10000BTC
IPO percentage: 70%
dev will keep 15% and community will keep 15%(not sure what's used for, I think it's kept by dev too)
Safe coin is better than this coin and it just raised 7000 BTC but when it hits exchange, trade price is below the IPO price, so you know your choice.
A question to DEV, when IPO end but you don't raise 10000BTC, let us say 2000 BTC, so what will you deal with the left storj?

[1714905674]

1714905674

[Lordoftherigs]

truly this ipo is overpriced.... overpriced compare to sia and compare to safecoin as well...

[super3]

Unlike most other coins we are establishing a community fund. It is balanced against the dev fund, so each gets 15%. The idea is that the community should have the same or more power than the devs. To make this happen we will have to build a multi-signature wallet. We will be using copay for the BTC that the community holds, but we will have to build a new wallet for the SJCX.

This has never been done before, but I think everyone will start to follow this model once they see it in action. The community should be key in a coin, not the devs.

As far as any remaining SJCX from the crowdsale here is our current plan:
1) Distribute it through hard drive mining/farming to the crowdsale participants
2) Use it for future crowdsales for new Storj platforms(decentralized Youtube, Imgur, etc.)

So someone who contributes 1 BTC to the crowdsale could end up with 4-5 BTC worth of SJCX by the time the network goes public. Those who don't participate in the crowdsale won't be able participate in the early network. They will be able to generate addresses and use SJCX, but they won't be able to mine.

Thanks for calling us out on it, and let me know if I answered your question.

[Anotheranonlol]

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

[ejinte]

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

[IamNotSure]

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]

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.

[h0lybyte]

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".

[Anotheranonlol]

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.

[superresistant]

 
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.

[super3]

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.

[super3]

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

+ 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.

[fabe]

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.
   
   
   
   

[Wulfcastle]

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 

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?

[coin@coin]

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

[ejinte]

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.

[mtbitcoin]

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

[Byter88]

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?

[IamNotSure]

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 !

[coin@coin]

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