My thoughts exactly (and I agree with your previous comment too). 

But MoA is a smart guy.  He thinks we're missing something.  Are we? 

Hey guys,  Ryan here Storj Community President.

Caught the discussion happening figure I would help you out and give some answers
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Storjcoin is not equity in storj.

Storjcoin is the token used to purchase storage on the decentralized cloud network

People running the application Driveshare(in development github.com/storj) will be able to sell excess hard drive space
The whitepaper describing this process is being reviewed right now and adjustments to it.

If you want to store something on the network you will use a metadisk node
Current public nodes
(note without drive share running these are early demos and not a decentralized application)
node1.metadisk.org

you can read the metadisk whitepaper here
metadisk.org/metadisk.pdf

People using metadisk will purchase space that they need using storjcoin

So therefore storjcoin will have value as it has a commodity directly attached to it.

This is a brief summary and there is lots of more information on the Storjtalk.org forums

Hope to see you there or send a reply here and I will do what I can to answer

Naval said it himself in the video.  devs can "sell" premined coins and the dev can hold back a % as a funding mechanism. 

so in fact, the coins should represent shares in the company. 

Theres often a really harsh spike down, where people are having to sell because they have no choice.   That is a perfect opportunity, like a fire sale.  Buy when people dont even want to sell and its obviously too cheap but they got no choice anymore.  
A large part of modern market is hot money or leveraged to speculate.  When people get that wrong is when you see the sharpest moves occur.   Really this doesnt mean silver is bad to hold but on that day or period of time however long, it'll be cheap from that flood or flush out of speculators.   All the people who never wanted to own just bid for price rise then now are selling

It can go the opposite way such as when VW was shorted before a takeover. 

The crash jpm always seemed a bit silly.   Who really needs silver so where it'll spike naturally.  Im not sure but I think quite alot of consumption of silver declined with photography switching to digital.
So 2011 followed the QE2 autumn announcement by the Fed.  I would guess it was related to that as alot of bubbles seem to circulate fed or gov policy such as Fannie mae.

I think 10 to 20 for silver this year, I dont think it'll really take off.  I do see silver as a bull market eventually as it is a monetary metal and we have an avalanche waiting when or if there is a reversion away from debt to solid trade again.  Today still the world favours politics over business but since the net effect of government is self depreciation not profit for its backers, its a cost and an increasing one.  If that is true we'll see this endless debt eventually collapse.
 I would rather say 2015 as a guess and they will maneuver onwards in 2014.  Increasingly the arguments will be hollow and fail, the only other alternative is war and a giant state control as in ww2

Right, it is just a token to be paid to the nodes for their work storing the data.  Storjcoin pays no dividends and makes no promises to the user about how much storage each token will purchase.  I cannot fathom why anyone buys them (outside of the greater fool theory and outside of actually using the service).  


Yes, they should but they don't.

Appcoins are aether.

Remember when Wall Street started making synthetic derivatives composed of mortgage-backed security derivatives?

The main failing was not derivatives but that government backed the funding of questionable mortgage debt.   If wall street or any private company screws up it'll fall over, but when government backs something it becomes a giant that crushes anyone who stands in its way and in the end it trips up anyway

Maybe securitization is bad but if it is questionable then its very likely rated as such.   The problem stems when people dont question or rate debt that could fail realistically

that's not true:

http://politicalcorrection.org/factcheck/201110140001

Fannie Mae entered the fray after the Wall St banks pumped up the CDO market.  Banks are the "out of thin air lenders" and when regs are light and money is cheap, they lend BIG.  money was so cheap and gvt backing so implied, debt instruments were trading just like money.

furthermore, ratings by Moody's, Standard & Poors, Fitch all were bought off to give high ratings. this is well documented.

so no, Wall St was the progenitor.

True, but only bitter experience can force people to make smarter decisions. I say this while reminding myself that maybe this won't be the last new paradigm in money, or even in cryptographic money. We're still waiting for >99% of the world to realise the old paradigm is finished, after all. I'm in "expect the unexpected" mode for the rest of the 2010's.