Converting SCJX to STORJ on Ethereum
Today I converted about 16,000 SCJX (Storj x Coin on the Counterparty blockchain) 1 for 1 to STORJ coin on the Ethereum blockchain.
Here's some simple tips and tricks if you need to do the same.
If you trust Bittrex and have your SCJX coins there, they plan on doing the transfer of your coins automatically tomorrow (July 8 at 3 PM PDT). Here's the link to that: https://support.bittrex.com/hc/en-us/articles/115000505732
I did this manually mainly because I had not yet seen that lol. I first created an Ethereum Wallet Address here: https://www.myetherwallet.com. Not all Ethereum wallets will accept the STORJ coin or other similar contracts under the Ethereum blockchain, so I used myetherwallet.com as it's one of the recommended wallets from the guide I read here on the storj.io website: https://docs.storj.io/docs/migrate-tokens-from-sjcx-to-storj
I don't recommend using MIST unless you already have it as I could never get mine to sync and have had this issue before when I've tried to use it.
The actual website to handle the conversion (once you know what's what) is here: https://converter.storj.io/. It gives every address a different burn address to send the SCJX coins to. Then it keeps track of that and whatever it sees hit that address it will send the new STORJ coin to your supported Ethereum Wallet. It says to allow up to 3 days for conversion but mine only took 2 hours.
I imagine Storj will do very well on Ethereum. I see this move as something that will make both coins stronger. Yes, Storj is tiny in market cap compared to Ethereum, but Ethereum will now be about to boast that it has a coin (Storj) which will enable companies to access decentralized cloud storage for roughly half the cost they're currently paying. The added benefits of redundancy and block chain encryption are nice as well.
I'm holding a lot of Storj in the hopes that it goes up 10 fold or better over the next year. There is a risk in anything, but I like my odds here. Please do your own research. Steem on!
I tried sharing my unused drive yesterday, but couldn't get it to work. I think for the less technically inclined, they need to work a little bit more on it, so it's more easily available to the masses.
I did try their help chat, but to be honest I just gave up since I couldn't even understand the first sentence when they were trying to resolve my issue :D They looked busy enough helping people that actually know what they are doing.
You mine storj?
I do. In manual payouts I've earned a few hundred SCJX worth maybe $300 or so. That was over a few months so it's really hard for me to say how much to expect. I'm not sure when the payouts will become automatic (like normal mining) based mainly on the amount of hard drive space you share..but hopefully this will happen soon if it hasn't already. I try to share up to 200 GB of hard drive space.
Cool ... I did some tests mining Storj and Burst ... for me Burst is working better for now, but the difficulty increases very fast. I believe more in Storj, because its proposal adds more value, but I could not get return mining. I did tests using 5 TB HD.
The payouts being manual meant they may have only done a payout once every couple of weeks so you probably just missed it.
Bro how do you mine Storj? If is on any mining site or you mined on your own system. I will like if you make a detailed post abbout it.
Storj.io has a link to download the user interface from Github.
Solid post. I was about to post a similair thread. Some people say it's a high risk market but if you're willing to hold your coins with a 2 to 5 year vision I bet the risk might not seem that high by then :-). Personally I always use: https://www.coincheckup.com The site is my go to place for crypto investment analaysis and indepth coin research.