Well, I see why the price dove, the swap is turning into a scam even.
SIX YEARS!!
WTF, BTC is only like 9 years old and crypto coins have only had a dollar value for about that time.
So for those who want to swap their coins, if they don't get some of that year 1 STRAKS they have to wait a year to try again, that's ridiculous.
You guys needed to distance yourself from SIGT, not tie yourself to them for 6 more years, what a disaster.
You're also hurting your masternode system by holding back so many coin for years.
Next is, the price won't be able to stabilize until the number of sigt being swapped in is determined.
Lastly, the remaining coins you didn't use for the swap were supposed to be used for airdrop/bounty was it not... so the airdrops and bounties aren't going to happen until year 7?
Epic fail guys, sad I wasted this much time following this only to get hit with that doozy of proof that you guys are going to have a rough uphill battle trying to make this work.
Decisions like this will bury your project and I highly suggest you reconsider before you tie your nice new coin in with a confirmed scam coin for 6 years.
You guys just created your own FUD storm, I hope you can clean it up before it kills your coin before it even gets out there.
Topic: [ANN] STRAKS - A POW/Masternode Cryptocurrency focused on e-commerce utility - page 69. (Read 144880 times)
November 25, 2017, 09:25:55 AM
November 25, 2017, 08:53:43 AM
I’m not sure it will take 6 years, I believe this is an over precaution, however, the reasons behind why it’s been done probably draws from several factors, initiating the entire coin swap at once would have seen many people immediately dumping Straks hurting the value of the coin.
Another reason is everybody realised quickly it was better to buy Sigt for the short term than mine Straks, this in turn only pumped the price of the Sigt (which is not what the Devs want) and drew miners away from Straks giving more “limelight” to Scam coin Sigt again.
Another reason is everybody realised quickly it was better to buy Sigt for the short term than mine Straks, this in turn only pumped the price of the Sigt (which is not what the Devs want) and drew miners away from Straks giving more “limelight” to Scam coin Sigt again.
November 25, 2017, 08:00:01 AM
6 years swap ? you're crazy guys. 
it's only 15000 sigt...
November 25, 2017, 07:57:00 AM
6 years swap ? you're crazy guys.
November 25, 2017, 07:20:13 AM
It is not clear how to apply for an exchange sigt?
November 25, 2017, 07:06:24 AM
I don't understand their swap mechanism for 6 years. Not sure this coin can fuel up to 6 years.
Dev has to come forward and explain us about it.
Dev has to come forward and explain us about it.
November 25, 2017, 06:19:15 AM
Let see the math.
One Rigs 6x AMD RX 570 give you 35Mh with Lyra2Rav2 algo.
Net hash rate is: 82Gh, similar 82000/35 = 2480 Rig.
- Blocktime 1 minute.
- Reward is 10 STRAKS.
- 1 day = 1440 min.
So all STRAKS net make 1440x10=14400 STRAKS.
Mean 14400/2480=5.8 STRAK. Similar 5.8 x 4 (SIGT)=23.2 sigt.
Sigt price is 0.0000015=> 23.2 x 0.0000015 =0.0000348.
Result 1 rig 6x AMD 570 get profit = 0.0000348 or 0.0000348 x 8400=0.29$/day
It very cheap for SIGT or Very waste your electrics for you if you mine STRAKS.
One Rigs 6x AMD RX 570 give you 35Mh with Lyra2Rav2 algo.
Net hash rate is: 82Gh, similar 82000/35 = 2480 Rig.
- Blocktime 1 minute.
- Reward is 10 STRAKS.
- 1 day = 1440 min.
So all STRAKS net make 1440x10=14400 STRAKS.
Mean 14400/2480=5.8 STRAK. Similar 5.8 x 4 (SIGT)=23.2 sigt.
Sigt price is 0.0000015=> 23.2 x 0.0000015 =0.0000348.
Result 1 rig 6x AMD 570 get profit = 0.0000348 or 0.0000348 x 8400=0.29$/day
It very cheap for SIGT or Very waste your electrics for you if you mine STRAKS.
November 25, 2017, 06:02:30 AM
If I have 15,000 Signatum, then it turns out I will exchange it for Straks for several years?
It will be swapped for 3750 STAK over a period of max 5 years 10 months.
Some considerations:
1. Do you still trust the devs? See announcements of swap mechanism vs poll...
2. 6 years is a long time to survive for a new coin.
3. A lot of people do no longer trust this coin, augmented chance for premature death of the coin.
4. Do some math and estimate worth of straks, mining will probably not be profitable, but each month people with swapped coins wiil flood the exchanges...again probability of an early death of the coin.......
My opinion of the swap:
It could be that the devs made a mistake in 4:1 swap ratio vs block reward of only 10, and later on needed to rectify it by choosing a 6 year period for the swap, or they knew that information when they launched the poll, if the latter, then its clearly a scam for withholding information, if the first incompetence?
On the other hand, if the swap was going to happen immediately, it would be a sudden death for STRAKS, instead I fear they choose for a slow one.....
I for one think a 10:1 plus burn the coins ratio would have been a better option from the start. Having 40m for the start go into circulation after the swap is just calling for a dump from sigt holders. I'm actually in favor of the new mechanics of the swap. The reason it will take 6 years is because they need to match the amount of coins being mined with the swap incoming supply which makes more sense since it will prevent an immediate dump and kill the coin instantly.
What I hate with the whole situation is the swap installment plan was only relayed today instead of from the start before the coin launched. If this information was given to everyone, there won't be any speculation with the sigt price that happened this past few days.
November 25, 2017, 05:57:25 AM
I'm finally catching up on the last few days posts and this shit is golden! I hate to take credit for debunking this scam, but it seems like my posts caused people to finally look into this scam. Really the best part of this all are the people who defended this coin after my posts, and now they are suddenly silent after the terms of the coin swap have been changed. I'm sure the devs made a killing on the SIGT run though! And to add insult to injury, the swap information is still not in the announcement! This is the first time I have ever seen github used as a a platform to announce coin information over a website or forum. In the end though, I'm glad that the people mining this quickly saw the scam, and the idiots still holding sigt got fucked. Trusting any venture that is related to sigt would be like buying a new currency created by Nicolas Maduro
You should really look at Straks discord, all main discussion is going there, all your eloquence is pointless here. November 25, 2017, 05:09:02 AM
6 years for a swap, it's awful long for a crypto currency.
Why did this information appear only now ? Many people bought your signatum. Once again, the developers deceived their community.
Now in the discord from the developers only mockery, disgusting.
Why did this information appear only now ? Many people bought your signatum. Once again, the developers deceived their community.
Now in the discord from the developers only mockery, disgusting.
If you bought signatum before the details were clarified that's your fault... why gamble on speculation?
Do not blame the injured. I think It is very likely that all this was done premeditated for speculation. Here there were many messages that urged to buy signatum on exchanges and to earn on it. But nobody of the Straks team has stopped this and no tried to explain that it is not needful to do this
From this we can conclude that the Team may STRAKS itself and put up this dump.
November 25, 2017, 04:54:59 AM
If I have 15,000 Signatum, then it turns out I will exchange it for Straks for several years?
It will be swapped for 3750 STAK over a period of max 5 years 10 months.
Some considerations:
1. Do you still trust the devs? See announcements of swap mechanism vs poll...
2. 6 years is a long time to survive for a new coin.
3. A lot of people do no longer trust this coin, augmented chance for premature death of the coin.
4. Do some math and estimate worth of straks, mining will probably not be profitable, but each month people with swapped coins wiil flood the exchanges...again probability of an early death of the coin.......
My opinion of the swap:
It could be that the devs made a mistake in 4:1 swap ratio vs block reward of only 10, and later on needed to rectify it by choosing a 6 year period for the swap, or they knew that information when they launched the poll, if the latter, then its clearly a scam for withholding information, if the first incompetence?
On the other hand, if the swap was going to happen immediately, it would be a sudden death for STRAKS, instead I fear they choose for a slow one.....
November 25, 2017, 04:36:26 AM
If I have 15,000 Signatum, then it turns out I will exchange it for Straks for several years?
November 25, 2017, 04:35:14 AM
That's it for me. Transfered my 100k sigt to yobit and sold it all with a loss. Never want to hear about either signatum or straks ever again. Same shit, with different name.
Go have a cry ! While your at it cuddle the other people that are there with you !
Don't blame the devs for your stupidity
November 25, 2017, 04:33:40 AM
Well done Devs.
People, nothing is ever set in stone, cryptography is open to fluid change.
The way I see it.
Project started with a plan.
Plan had to change to make sure Straks didn't become as worthless as signatum as that would of happened if the plan for swap eat stayed the same.
People that are moaning are either signature owners or fools that just brought bucket loads of signature thinking they will be rich, well people's greed has not thing to-do with the dev team or the coins plan.
Be respectful somebody somewhere is at least offering you holders something.
I'll point it out again.
Plans have to change to match the real-world , failure to-do this results in a dead coin cos signature holders will kill this coin dead if ally be funds eat was released at once.
If you holders don't like it then make your own coin
People, nothing is ever set in stone, cryptography is open to fluid change.
The way I see it.
Project started with a plan.
Plan had to change to make sure Straks didn't become as worthless as signatum as that would of happened if the plan for swap eat stayed the same.
People that are moaning are either signature owners or fools that just brought bucket loads of signature thinking they will be rich, well people's greed has not thing to-do with the dev team or the coins plan.
Be respectful somebody somewhere is at least offering you holders something.
I'll point it out again.
Plans have to change to match the real-world , failure to-do this results in a dead coin cos signature holders will kill this coin dead if ally be funds eat was released at once.
If you holders don't like it then make your own coin
November 25, 2017, 04:25:38 AM
That's it for me. Transfered my 100k sigt to yobit and sold it all with a loss. Never want to hear about either signatum or straks ever again. Same shit, with different name.
November 25, 2017, 04:04:03 AM
Re-read some threads on the topic and on the topic of Signatum 2.0, it gives me a sense of cheating by developers. All of the information they announced are extremely vague, and in-consistent over time. I have some Signatum and really tired with developers' activities.
If those ones are simply mistakes by lack of marketting experience, they should re-announce officially, transparently, again.
If those ones are simply mistakes by lack of marketting experience, they should re-announce officially, transparently, again.
November 25, 2017, 04:00:27 AM
Developer stopped and abandoned SIGT 2.0, then created STARK. What is the purpose of that guy?
SIGT2.0 was temporary name of STRAKS . There was contest for coin name and STRAKS von the vote. So STRAKS is not "third" project.
Its been here for weeks for all to see; https://bitcointalksearch.org/topic/ann-signatum-20-2303471
Our mistake. I guess in the future we need to follow every single announcement thread on bitcointalk to be sure there isn't a hidden coin swap in a new coin. You are a joker
November 25, 2017, 03:55:32 AM
I'm finally catching up on the last few days posts and this shit is golden! I hate to take credit for debunking this scam, but it seems like my posts caused people to finally look into this scam. Really the best part of this all are the people who defended this coin after my posts, and now they are suddenly silent after the terms of the coin swap have been changed. I'm sure the devs made a killing on the SIGT run though! And to add insult to injury, the swap information is still not in the announcement! This is the first time I have ever seen github used as a a platform to announce coin information over a website or forum. In the end though, I'm glad that the people mining this quickly saw the scam, and the idiots still holding sigt got fucked. Trusting any venture that is related to sigt would be like buying a new currency created by Nicolas Maduro
November 25, 2017, 02:35:10 AM
6 years for a swap, it's awful long for a crypto currency.
Why did this information appear only now ? Many people bought your signatum. Once again, the developers deceived their community.
Now in the discord from the developers only mockery, disgusting.
Why did this information appear only now ? Many people bought your signatum. Once again, the developers deceived their community.
Now in the discord from the developers only mockery, disgusting.
If you bought signatum before the details were clarified that's your fault... why gamble on speculation?
Do not blame the injured. I think It is very likely that all this was done premeditated for speculation. Here there were many messages that urged to buy signatum on exchanges and to earn on it. But nobody of the Straks team has stopped this and no tried to explain that it is not needful to do this
November 25, 2017, 02:12:29 AM
6 years for a swap, it's awful long for a crypto currency.
Why did this information appear only now ? Many people bought your signatum. Once again, the developers deceived their community.
Now in the discord from the developers only mockery, disgusting.
Why did this information appear only now ? Many people bought your signatum. Once again, the developers deceived their community.
Now in the discord from the developers only mockery, disgusting.
If you bought signatum before the details were clarified that's your fault... why gamble on speculation?
Do not blame the injured. I think It is very likely that all this was done premeditated for speculation. Here there were many messages that urged to buy signatum on exchanges and to earn on it. But nobody of the Straks team has stopped this and no tried to explain that it is not needful to do this
Jump to: