Distributed File Storage coins

Has anyone done any exhaustive or at least cursory research into some of the distributed file storage coins?

Siacoin, StorJ, Filecoin, etc.?

I want to pick one of these to invest in, but I’m not sure what all’s out there. I just named the only three I know about. What other coins are in the same space solving the same problem? Which have fully working technology now?

I’m also strongly considering setting up to both mine and offer online storage space as a way to earn double-up income (same computers doing both mining and offering storage). So, this particular sector in cryptos really has my interest.

Any thoughts welcome!

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There is also Maidsafe, but they seem to be attempting to build a new internet as well, to some extent. They are in an alpha build right now and their forum is poppin’.

StorJ and Siacoin are functional at the moment, but rough around the edges. Very hard to set up. None of the above three pay you very much (there are calculators). And I guess that is kind of the point if they want to compete with really big players. I was thinking that with 12TB I could make money comparable to a couple of r9 270s…Hah, not even close.

I dont think Filecoin is working at all yet, but have not looked at them since they postponed the coin sale.

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I think in another thread burst coin was mentiond as well

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Burst is a distributed file system? When I was messing with it yesterday, I got the impression it was some sort of ad watching/survey taking awards system…but I didn’t really look up Burst’s whitepapers and such.

from my understanding it is a HD mining coin. are you sure it was not just the faucets that are like that

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Hmmm…so HDD mining is the same as a distributed FS coin? :-o

At any rate, Burst seems ill-conceived and worse, mostly running in a “bad neighborhood” with those spammy faucets, so I’m pretty turned off to it altogether at the moment.

Meanwhile, been hunting around for some numbers…just found a 2015 post on storj with the basic rundown on what one can expect for payouts on renting your drives:

We’ve been asking ourselves that question a lot lately, and frankly, we don’t know. There’s no way to tell what the market will look like after the network launches. But we can help you make an educated guess.

[Given a] PC with 1TB free, and 3 additional 4TB hard drives. The cost of running this node is $5.94 + (3 * $6.02) = $24/month. This node has 13 TB of space to lend, at around $0.0070/GB/month. Monthly revenue is around $91, making an easy $67 monthly profit. At that rate, you can pay off your investment in the hard drives in just 7 months, and the rest is pure profit.

Haven’t found anything more current, yet.

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Oh, another thing I ran across…Siacoin’s not paying out a lot (but I didn’t find exact figures, yet). Apparently, they have way more storage capacity than they’re able to successfully rent out. Only 2% of their capacity is currently “under contract” to host files.

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That is interesting good for them to have so much storage, but bad that they dont have more contracts on it.

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BURST is a shit coin that had great intentions and was plagued with horrible developers and a PR person that was involved in a lot of scams. It was meant to be an asset exchange I think like ARK. Other people just did it better. It is not worth the time and effort to start mining it. The only reason I mine it is that everything was setup before I realized what I was mining and how crappy it was. I still like the idea of proof of capacity as HDD’s tend to last a very long time and draw very little power.

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Sounds about right. I spent an hour or so on it last night to help out @JasonMasterNET get his wallet funded. It piqued my interest when I heard the term “HDD mining” which didn’t really make sense since HHD’s are storage devices and not compute devices. Anyway, one thing led to another and I ended up wondering about the first coin I cloud-mined, siacoin (to which I have somewhere around 60k coins).

Siacoin is apparently coming out with their own ASIC by Spring 2018 that will obsolete GPU mining by 100 fold, so I started wondering about the next obvious thing – hosting drive space and I mean lots of it. LIke, fill a 42U rack in the local data center kind of notions by sourcing discarded auctioned storage servers.

I have a lot of expertise in building these kind of servers (less so building out GPU rigs as I’ve only built one rig so far).

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I wasn’t building to that scale of a full server rack but I do have over 50TB of HDD’s mining BURST. From the time i spent you are better off learning to GPU mine. Instead of fighting windows just download SimpleMining.net. Sure it is $2 a month per rig but windows is $100 and you fight it. I love SMOS and find the convience it provides with monitoring the rigs remotely and how easy it was to get running well worth the $2 and they accept crypto’s.

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In short: Burst mining is not worth the effort!

I plotted 92TB of my 100TB HDD Space when Burst got hacked.
Since then the rewards went down a lot and keep in mind that plotting 100TB took me almost a month of time!

Today, according to a Burst calculator, you get about 10000 Burst a month for 100TB.
Which is like 50 USD. But I mined only 3000 Burst this month!
So you barely can pay the power bill from the revenues.

Maybe filecoin is an option in the future.
Not sure if the other coins give any decent award.

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Your results are right in line with what I was piecing together from here and there and drawing conclusions on. I saw a couple of YouTubers who are plotting with Burstcoin and showed how much they mined and how much they made for the month and it put the whole thing pretty low.

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