Storage Crypto ?

[RimBlock]

With Chia not, outwardly at least, going anywhere much and people jumping off, has anyone been looking at the various storage crypto offerings with a view to providing space.

Cryptos that come to mind are (inc links);

• ARWEAVE & Virdpool ARWeave Explorer
• FileCoin & FilFox Network Info site
• Storj & Storj Network Info

From a light investigation I have done so far...

ARWeave uses SPoRA like Monero so newer CPU's are is better. Needs lots of v.fast NVME (8TB+ better) but meant to be moving to making HDD storage key. No eta on this release that I found.

FileCoin has a high point of entry with regard to required hardware (inc GPU) and does not seem to be profitable for non-corporate / non-whale end of storage providers. An example setup from over a year ago ( ) suggests an 64K build could generate 120k in 18 months (out of my range by far )

Storj seems to have a long (9 month ??) escrow period before payouts but a much lower bar to entry than FileCoin.

Storj seems like a possible for me but not keen on them holding payouts for so long when I am paying to provide the services they are selling and making profits on (sure this is the same for the others as well).

Any feedback on these, suggested builds, profitability ?.

 

[Bradford]

I have been on Storj for about a year and have only filled about 3.3TB, which currently makes me $13/mo. I'll start moving my chia drives to Storj as they become full since Storj is more profitable per TB but takes AGES to fill drives.

I'm interested in FileCoin but the barrier to entry has always put me off.

 

[loki0111]

I have been on Storj for about a year and have only filled about 3.3TB, which currently makes me $13/mo. I'll start moving my chia drives to Storj as they become full since Storj is more profitable per TB but takes AGES to fill drives.

I'm interested in FileCoin but the barrier to entry has always put me off.

Out of curiosity, what are the bandwidth requirements and averages like for Storj?

 

[Bradford]

Out of curiosity, what are the bandwidth requirements and averages like for Storj?

For my 5TB node, I have used 637GB in bandwidth this month to earn $6.87

 

[EasyRhino]

that's a surprisingly large amount of bandwidth

 

[BoredSysadmin]

that's a surprisingly large amount of bandwidth

A very brief looksie at Storj says they provide a vanilla S3 backend to customers and advertise video streaming as a feature, making participating nodes servers, not just cold storage. I wouldn't be surprised if CPU usage of the Storj software isn't minimal.

 

[Bradford]

that's a surprisingly large amount of bandwidth

For September, I used 473GB and made $15.72 on my 5TB drive that is full. Because it filled, I started another node that is about half full. That node used 265GB in September to ear $3.46. It seems that once a node is full, it gets more egress (which is more profitable). I pay for bandwidth in this colo for 100Mb 95th percentile, so I throttle these storj nodes to 5MB/s (both are running as docker containers within the same proxmox container) and it seems to keep their impact low. I could throttle it much more, since traffic doesn't seem to peak past 400kB/s.

The container just has 2 cores and 2GB ram. CPU usage is almost non-existent.

It seems that my drives are filling up faster this past year than the year prior. I even spun up a node at home and it seems to also be filling up. I would expect chia drives to be moving to storj, but storj demand seems to be good, while chia netspace is also going down to counter the falling coin price.

 

[Lix]

For September, I used 473GB and made $15.72 on my 5TB drive that is full. Because it filled, I started another node that is about half full. That node used 265GB in September to ear $3.46. It seems that once a node is full, it gets more egress (which is more profitable). I pay for bandwidth in this colo for 100Mb 95th percentile, so I throttle these storj nodes to 5MB/s (both are running as docker containers within the same proxmox container) and it seems to keep their impact low. I could throttle it much more, since traffic doesn't seem to peak past 400kB/s.

The container just has 2 cores and 2GB ram. CPU usage is almost non-existent.

It seems that my drives are filling up faster this past year than the year prior. I even spun up a node at home and it seems to also be filling up. I would expect chia drives to be moving to storj, but storj demand seems to be good, while chia netspace is also going down to counter the falling coin price.

Are you using multiple ports on the same fqdn?

 

[EasyRhino]

could you have just added more storage to the existing node rather than spinning up a second one?

 

[gregsachs]

could you have just added more storage to the existing node rather than spinning up a second one?

Likely depends on the underlying media. I have spun up 2 nodes, 1 has a 8tb drive passed through, one a 3. Both are full, haven't seen a reason to spin up another. I definitely wouldn't use any sort of raid except maybe raid 0, and i see no benefit to speeding up shared storage like this. Same token no reason to run with any redundancy, if the disk fails it isn't my data lost.
(and the network is designed for that type of scenario).
If you don't have existing eth, extracting payment is a bit of a pain first time.

 

[Bradford]

Are you using multiple ports on the same fqdn?

Yes, just incremented the standard port for the second node.

could you have just added more storage to the existing node rather than spinning up a second one?

The storj docs recommend a new node when adding space. I think it's a good idea because if a drive fails, you don't kill your reputation on your other nodes. I am mirroring my storj drives, and will do that until I finish migrating chia drives into storj nodes, then I will likely un-mirror them and take the risk of losing a node when the drive fails. I have a docker compose file that makes it pretty easy to run multiple nodes.

 

[EasyRhino]

I took some time yesterday to figure out docker compose and spun up a storj node. And I saw the common advice about using 1 node per drive.

Kind of an interesting project, but it looks like it only fills by about 10GB a day so far, so it's going to take a long time to start producing money.

 

[Bradford]

I took some time yesterday to figure out docker compose and spun up a storj node. And I saw the common advice about using 1 node per drive.

Kind of an interesting project, but it looks like it only fills by about 10GB a day so far, so it's going to take a long time to start producing money.

Yes, it's slow, especially at first. Don't buy drives for it, but if you have spare drives, I think it beats Chia. So I've been migrating from Chia as I fill drives. Not a bad use of spare drives in my colocation server.

 

[EasyRhino]

Note that storj has been reducing payouts this year and so it may not be profitable if your electricity prices are very high. I retired a couple smaller drives.

Conversely, a larger 8tb drive that is almost full (well over a year of storj ing) is doing well

 

[tjk]

ARWEAVE: The transition to HDD storage could open up new opportunities, but it's essential to stay updated on the release timeline. Look into optimizing your setup for SPoRA and consider future-proofing with HDD storage once available.

FileCoin: The high entry point might be challenging, especially for non-corporate users. It's crucial to weigh the potential ROI against the upfront costs. Keep in mind that cryptocurrency landscapes evolve, so monitor for changes in hardware requirements.

Storj: The escrow period might be a drawback, but the lower entry bar is a plus. Consider the trade-off between waiting for payouts and the ease of getting started. Explore community forums for user experiences and potential workarounds for the escrow period.

Thanks ChatGPT.

 

[zunder1990]

The chatGPT powered bots really seems to like this thread

 

[tinfoil3d]

What's the profit in this? There are no links afaics. Why is someone doing this? Unlike posts in sales thread these have no value to anyone.

 

[zunder1990]

What's the profit in this? There are no links afaics. Why is someone doing this? Unlike posts in sales thread these have no value to anyone.

To pump up the whole crypto idea is my guess. ponzi scheme needs to keep finding new victims to hold off collapse.

 

[tinfoil3d]

Im just so glad that this chia bs didn't last too long, and HDD and SSD prices are back to normal. Besides, someone bought two NVMes from be back in 21(i think?) substantially overpriced.
Rn we can easily get used 10TB SAS in bulk under 10k JPY(less than 67 bucks each) which I happily did at one point and populated my sas2 enclosure.

 

[unwind-protect]

What's the profit in this? There are no links afaics. Why is someone doing this? Unlike posts in sales thread these have no value to anyone.

Many of them build up a post count and then suddenly put spam links in their signature (which instantly appears below all their posts).