Storj.io - Good or Bad?

[B0DY]

Now when bitcoin mining is becoming a company thing, that huge dc's do, what about Storj.io.

Thoughts?

 

[Infinite]

reserved

edit: i'm unsure

 

[B0DY]

reserved

edit: i'm unsure

lol

 

[B0DY]

There can't be such things as 'completely' private data, as people would store all kinds of illegal things etc. I don't think its anything special, many things similar to this have existed.

examples?

 

[B0DY]

Any cloud storage really. Anything can be hidden on cloud storage.
The whole piratebay is hosted on cloud storage from random companies from around the world, the people who host those cloud services have no idea that they're doing such things with it.
It isn't really a new thing, it's always been there in terms of cloud storage but no ones really pinpointed it and used it as a monetary statement.

I was asking for examples were you GET money for renting out space.

 

[B0DY]

Are you talking about cloud mining?
There has been a lot such as gigahash etc.
Usually in the end they're scams. They don't really last for a long while.

The concept of Storj is that you RENT out your disk space, and then they have a site like dropbox, but kmuch cheaper, and when people upload files it stores encrypted on my drive, and i get money. It has nothing to do with Bitcoins, but it's an alternative to lose money mining bitcoin.

 

[dintendocoltd]

It may sound good, but the problem is that some peers may be unreliable or feed back bad/invalid data to the client - after all, it is a public p2p network.

 

[B0DY]

It may sound good, but the problem is that some peers may be unreliable or feed back bad/invalid data to the client - after all, it is a public p2p network.

Ah seems cool.
Not sure how this would work though as obviously different machines are better than others etc.

I hope each file is stored on multiple clients. It would just be dumb if it wasn't.

 

[B0DY]

It seems a bit too complex to work imo. Too many components to rely on, pc power, location etc.
Also, what if someone else uses that site to upload something like child porn to the persons pc etc. Seems funny, but that could land people in trouble.

Well as the files are encrypted and splitted (onto more then one computer) i think that's impossible* to see.
*Impossible - hard (nothing is impossible on the internet)

 

[B0DY]

Eh, seems very dodgy nevertheless.

Yeah i guess.

 

[dintendocoltd]

what if someone else uses that site to upload something like child porn to the persons pc etc. Seems funny, but that could land people in trouble.

Well, according to the website, each file is shredded into bits and each of these bits are stored on each peer machine with encryption. If the authorities were to raid your house and place a search on your machine it would be virtually impossible without the help of the company;

1) Encryption - Storj.io say that they encrypt all data stored on the peer machine, I would assume they would use a high encryption and use a 2048-bit encryption system. Without storj.io giving the master key to decrypt the file to help said authorities then it would be impossible*.

2) Shredding - Storj.io also say that they shred all data and place the shreds on each of the peer machines. So, lets say if the user were to upload the illegal material and give the shreds in order:

Peer 1 - Shred 1/6
Peer 2 - Shred 1/6
Peer 3 - Shred 1/6
Peer 4 - Shred 1/6
Peer 5 - Shred 1/6
Peer 6 - Shred 1/6

Peer total = 6/6 Shreds (Ability to view said illegal material)

Now, lets say if peer 4 was being searched and the authorities were able to crack the 2048-bit encryption. The authorities will still not be able to view the file as the player wouldn't be able to play it back as it is shredded apart and requires the other 5 remaining shreds to view the content (like a puzzle).

* Its not technically impossible, and it can be decrypted.. if your willing to wait until the universe decides to go into heat death.

 

[B0DY]

Well, according to the website, each file is shredded into bits and each of these bits are stored on each peer machine with encryption. If the authorities were to raid your house and place a search on your machine it would be virtually impossible without the help of the company;

1) Encryption - Storj.io say that they encrypt all data stored on the peer machine, I would assume they would use a high encryption and use a 2048-bit encryption system. Without storj.io giving the master key to decrypt the file to help said authorities then it would be impossible*.

2) Shredding - Storj.io also say that they shred all data and place the shreds on each of the peer machines. So, lets say if the user were to upload the illegal material and give the shreds in order:

Peer 1 - Shred 1/6
Peer 2 - Shred 1/6
Peer 3 - Shred 1/6
Peer 4 - Shred 1/6
Peer 5 - Shred 1/6
Peer 6 - Shred 1/6

Peer total = 6/6 Shreds (Ability to view said illegal material)

Now, lets say if peer 4 was being searched and the authorities were able to crack the 2048-bit encryption. The authorities will still not be able to view the file as the player wouldn't be able to play it back as it is shredded apart and requires the other 5 remaining shreds to view the content (like a puzzle).

* Its not technically impossible, and it can be decrypted.. if your willing to wait until the universe decides to go into heat death.

I want to get started, but for the BETA you need 10,000 SJCX coins to get started...