Quote from: Vitalik Buterin on April 04, 2014, 12:24:45 AM

Quote from: Mike Hearn on April 03, 2014, 12:43:50 PM

Do you really need a new cryptocurrency for this? I thought about how to build StorJ many times and at no point did I never need anything more than standard Bitcoin as it exists today.

You don't _technically_. But it is a very good way of funding a decentralized protocol economically. I personally think the ugliness to benefit ratio here is several orders of magnitude lower than something like proprietary software, mandatory fees or, satoshi cyber christ forbid, DRM.

This.

Quote from: precrime3 on April 04, 2014, 12:28:35 AM

Looks very interesting. Technical details are fuzzy for me but is it that you run a node and it works likes POS or is it like POW? Also what I think would be better that we were rewarded in coins that you could redeem either for:

a. More storage space for uploading.
b. Bandwidth, etc....
c. BTC

In the early stages a node will offer a service and charge for bandwidth. Later on we implement proof of resource. Yes, the coins can be redeemed for what you mentioned.