[ANN] Storjcoin X (SJCX) - A Coin for Decentralized Cloud Storage

[Storj]

storj.io

Beginning on Friday, July 18, 2014 at 8:00 AM (EST), Storj began releasing Storjcoin X (SJCX).  This token will serve as a means of exchange for cloud storage space and bandwidth across the Storj network.  Users will obtain SJCX by renting out their resources to the network via DriveMiner when it is released in the near future, and they’ll be able to rent space from other users using Metadisk.  Participants in the crowdsale, which went live at the same time, will also receive SJCX according to how much they contribute.

Total supply: 500,000,000 coins
Protocol: Issued on top of Counterparty (XCP)
Crowdsale Page: http://storj.io/crowdsale.html

Storj Explained in 60 Seconds
https://www.youtube.com/watch?v=vl3bUzfn2lg

Decks
https://speakerdeck.com/super3/storj-crowdsale-deck
https://speakerdeck.com/super3/storj-deck-v1

Why Storjcoin X?

We love Bitcoin; we only created Storjcoin X because we had to. We are working on implementing features like sending data to an address, key-resource, etc., and it is not possible to implement these features on Bitcoin because of the metadata size limits. By using Storjcoin X we have some flexibility in terms of implementation.

Unlike other cryptocurrencies, we plan to reintegrate with Bitcoin should treechains or sidechains become viable via a hard fork, but we are simply are not going to wait for it.

Exchanges

We have already been contacted by a few exchanges. Exchanges will go live at the end of the crowdsale.  If you would like to add SJCX, please contact hello@storj.io.

Wallet

Since Storjcoin X will be implemented on Counterparty, a compatible wallet is required such as CounterWallet.

Allocation

The coins will be created in advance in order to satisfy the demand of crowdsale participants.  Any additional coins not sold in the crowdsale will be allocated to the developer pool, to be distributed to crowdsale participants through hard driving mining (also known as farming) or use in future crowdsales (decentralized Youtube, Imgur, etc. on Storj).  Developers will not use these coins to dump for financial gain.

Crowdfunding Sales - 70%
Community Pool - 15%
Developer Pool - 15%

Community Pool
Storj believes that that the devs should not rule the coin. After all, that's not decentralization, is it? We are trying something completely new by issuing a community pool equal to the developer pool. Any BTC in the community pool will be managed with Bitpay’s multi-signature Copay wallet. We will have to build a multi-signature wallet for SJCX.

Funds will be managed by trusted community members who will listen to and act upon community proposals. This will be the first coin that allows the community to have equal power to the developers.

Make your voice and proposals heard at http://storjtalk.org/

Mining

Users will not “mine” the coins in a traditional way.  Instead, they will be compensated for providing their unused resources to the network via DriveMiner.  This process will be simplified within the application.

Block Explorer

http://blockscan.com/assetInfo.aspx?q=SJCX

Social Media

Updates regarding Storjcoin X will be posted on the Storj social media profiles, the Storj forum, and/or here on Bitcointalk.

• Storjtalk Forum
• Twitter
• Subreddit
• Facebook
• Google+
• LinkedIn

[Djinou94]

No escrow?

[mafia]

sounds good- good luck!

[Storj]

No escrow?

We understand that this may cause some users to be apprehensive in contributing to the crowdsale. Our team members have made their identities available in order to put real faces and names to the project.

[pregoRI]

this can develop in something interesting. He, mining with hard drive ...

[Storj]

Cool idea.

Great project !

like what i see so far.

sounds good- good luck!

Thank you all very much!

[exoton]

so when and how can i start "mining" ?

[Moon Follow Me]

as far as i understand dev wants to sell 70% of all coins for 9,800 BTC (~$6m) on crowdsale, leave 15% for yourself and another 15% for giveaways. you must be a fool if you are going to invest in.

Any additional coins not sold in the crowdsale will be allocated to the developer pool

i'm sorry but fuck this bs. stay away.

[BTMan]

so good coin for Cloud Storage.

[asboxi]

the substitue of dropbox?

[profitofthegods]

Love the name!

I'm a big believer in the importance of product names and their ability to make or break a business - and this has a perfect name: short and descriptive, but yet without actually being a real word (at least not in English, not sure if its from another language). I reckon if Storj can come even close to living up to the promising tech innovations, then it has a great chance of being a hit.

[DougB62]

The idea of storj is brilliant though. Th reason I will not use cloud storage for anything but the most mundane of files, is that some company has the damn "key" to my files. Not only that, but hackers could conceivably gain access to them at any time by hacking some general db of the cloud storage company.

I love the idea of "shredding", and then storing the "shreds" all over the network - all accessible only through your privkey. I think that's a brilliant idea that will be well received. Anonymity and decentralization - that's crypto after all. This fits, and could really take off if implemented correctly.

I will be watching this for sure.

[Storj]

so when and how can i start "mining" ?

We are currently finishing up and testing the apps that will allow you to do this. As a crowdsale participant, one of the benefits is you will be able to get access to Metadisk (currently in its beta) and then to DriveMiner in the very near future.
 

as far as i understand dev wants to sell 70% of all coins for 9,800 BTC (~$6m) on crowdsale, leave 15% for yourself and another 15% for giveaways. you must be a fool if you are going to invest in.

We do not intend to reach 9,800 BTC. The main point of this crowdsale is to cover our costs up to this point along with providing funding for the future. The crowdsale will go to developer salaries (several people are working full time on this project), development of new protocols and applications, and marketing. The community pool and the developer pool are ways for outstanding community members to be rewarded for contributing to the project.

A majority of altcoins released today have premines held completely by the developers. Storj changes this by allocating half of these funds to the community so that we, the developers, do not have all of the say.

[HI-TEC99]

Protocol: Issued on top of Counterparty (XCP)

Does that mean we have to download the whole bitcoin blockchain just to use this?

[Storj]

Does that mean we have to download the whole bitcoin blockchain just to use this?

No, you will just have to use a Counterparty-supported wallet such as CounterWallet

[Storj]

Love the name!

I'm a big believer in the importance of product names and their ability to make or break a business - and this has a perfect name: short and descriptive, but yet without actually being a real word (at least not in English, not sure if its from another language). I reckon if Storj can come even close to living up to the promising tech innovations, then it has a great chance of being a hit.

The idea of storj is brilliant though. Th reason I will not use cloud storage for anything but the most mundane of files, is that some company has the damn "key" to my files. Not only that, but hackers could conceivably gain access to them at any time by hacking some general db of the cloud storage company.

I love the idea of "shredding", and then storing the "shreds" all over the network - all accessible only through your privkey. I think that's a brilliant idea that will be well received. Anonymity and decentralization - that's crypto after all. This fits, and could really take off if implemented correctly.

I will be watching this for sure.

Thank you both for the support! We are striving for nothing but the best end product. We will make sure the community is aware of updates on the project as they come up as well.

[exoton]

so when and how can i start "mining" ?

We are currently finishing up and testing the apps that will allow you to do this. As a crowdsale participant, one of the benefits is you will be able to get access to Metadisk (currently in its beta) and then to DriveMiner in the very near future.
 

as far as i understand dev wants to sell 70% of all coins for 9,800 BTC (~$6m) on crowdsale, leave 15% for yourself and another 15% for giveaways. you must be a fool if you are going to invest in.

We do not intend to reach 9,800 BTC. The main point of this crowdsale is to cover our costs up to this point along with providing funding for the future. The crowdsale will go to developer salaries (several people are working full time on this project), development of new protocols and applications, and marketing. The community pool and the developer pool are ways for outstanding community members to be rewarded for contributing to the project.

A majority of altcoins released today have premines held completely by the developers. Storj changes this by allocating half of these funds to the community so that we, the developers, do not have all of the say.

i wont be able to join the crowdsale due to financial problems (aegis & cnl) would love to start mining this ealry however to make up for my losses ^^

[Storj]

i wont be able to join the crowdsale due to financial problems (aegis & cnl) would love to start mining this ealry however to make up for my losses ^^

We are sorry to hear about your situation. Considering the terms of the project, we cannot give access to someone who doesn't participate in the crowdsale because other will expect the same, thereby losing one of the main points of the crowdsale.

[smokim87]

How do I invest? Kind of lost here.

Thanks.

[MemoryShock]

How do I invest? Kind of lost here.

Thanks.

http://storj.io/crowdsale.html

It seems that link is not contained within the OP...