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Comment by Taek | Hacker News Reader

Why does storj need 6 million dollars? What are they planning on doing with it?

One problem with Storj is that their technical contributions to the field have been very minimal, the best I can tell is that they've introduced 'BitCumulis', which is a 'modular' design for integrating multiple solutions such as those presented in MaidSAFE and ethereum. They haven't actually made any convincing contributions to the bigger problems.

From what I can tell, storj is a front-end that is waiting for other teams to solve their proof of storage and proof of bandwidth problems. And I don't understand how that calls for 9800 BTC.

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For those who don't know about the MaidSAFE project, The Whitepaper (a good read): https://github.com/maidsafe/Whitepapers/blob/master/Project-... here's their code: https://github.com/maidsafe This project is something that's quite interesting in its scope. It goes to see how successful they'll be in implementing all of this, and how robust the system would turn out (e.g. would someone lose data if 10% of the network magically disappears overnight)

IMO this deserves a lot more attention than storj. It's everything storj has, plus a whole decentralized internet infrastructure upon which other decentralized applications can be built. It seems the most logical way forward.

Same. I have tried submitting a few different pages on the site but it never seems to get any traction.

So Metadisk is out, and DriveMiner is on its way. As far as technical contributions, going to have to wait until I finish up the revised whitepaper.

We were focused on writing the code first, and now we are in the process of writing down what we learned. Don't take me at my word, but do give me a few weeks to prepare a more formal paper now that most of our core code has been implemented or speced.

As far as the $6M we don't intend to raise that much. What is left over will be distributed through the early mining, and future crowdsales for other platforms build on top of Storj(decentralized Youtube, Imgur, etc.) In that way we can give the network a kickstart with the actual resources that it needs to survive.

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