We will announce our Whitepaper in few days time. But here's the spoiler: the actual burn ratio will depend of the amount of FUNK burned.  Therefore, the final and total amount of FUNK burned divided by 45,000,000 of Soniq (distributed proportionally to the amount of FUNK burned by each participant) will give the final ratio. So in case the entire current FUNK supply gets burned (which is quite impossible), the ratio will be 1056:1. |
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Let me clarify some things. When you burn a coins supply, it reduces it's supply it doesn't eliminate it. In this case due to the low volume of FUNK, a supply reduction will actually solve a lot of it's economic problems. FUNK will continue to exist, merely it's supply will be reduced, making each FUNK more rare and hence potentially more valuable.
Airdrops are nice for investors, or people who don't want to take any risks but they also encourage dumping which can harm the economics of the coin. We prefer an EarnDrop where each person that does something to support the project is rewarded with some tokens. It encourages people as an incentive to do something beneficial to support the project. It's not something we have decided yet, however it's an important consideration.
So we'll send FUNK tokens to a burn address (good for the remaining FUNK) and get SONIC for them (good for new project). Sounds like a win-win for both projects  Beside coins are not actually burned, they are just going to be held by whoever has 'burning' address, and could be brought back to the market (at the higher price). They kind of enforcing sonic, which is not good for people that want to hold coin (funk) instead of token (sonic). Why not have both? EDIT: Lets use appropriate terms first. There is no burn at all, there is a COLLECTION and that is different. Burn would consider releasing a new wallet with updated core. Such release would have to be a hard fork, and require exchanges update as well. Cryptopia would have to update the wallet too. That would be a burn. What they are doing is COLLECTING the FUNK coins. If something is collected it means it could be released back to the market. So what they are trying to do is to collect as much FUNK as possible to have control over it, and then to give newly printed tokens to the people in some ratio. Once FUNK is collected it could be easily pumped, and it will look that some other guys and not SONIC team is doing it. It is not the most honest way of doing things. Wrong. FUNK will be burned for real actually. Those who decide to burn it for Soniq will have to send FUNK to unspendable address. Those addresses will be published and they lack private key, so the coins will be deducted from supply for good. That's correct. A burn means that the coins are sent to an UNSPENDABLE address, which means they cannot be brought back into the market. I would be worried if the "burn address" would look like something randomly generated, however as long as it's similar to FUNKSONICSWAPXXXX00000 than it's impossible for someone to hold the private key for it. What you're referring to looks like a vanity address Delphinus. It's possible for one to generate such address and use it as any other. It's no guarantee of UNSPENDABLE. We will provide the algo used to calculate such addresses.  |
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Let me clarify some things. When you burn a coins supply, it reduces it's supply it doesn't eliminate it. In this case due to the low volume of FUNK, a supply reduction will actually solve a lot of it's economic problems. FUNK will continue to exist, merely it's supply will be reduced, making each FUNK more rare and hence potentially more valuable.
Airdrops are nice for investors, or people who don't want to take any risks but they also encourage dumping which can harm the economics of the coin. We prefer an EarnDrop where each person that does something to support the project is rewarded with some tokens. It encourages people as an incentive to do something beneficial to support the project. It's not something we have decided yet, however it's an important consideration.
So we'll send FUNK tokens to a burn address (good for the remaining FUNK) and get SONIC for them (good for new project). Sounds like a win-win for both projects Beside coins are not actually burned, they are just going to be held by whoever has 'burning' address, and could be brought back to the market (at the higher price). They kind of enforcing sonic, which is not good for people that want to hold coin (funk) instead of token (sonic). Why not have both? EDIT: Lets use appropriate terms first. There is no burn at all, there is a COLLECTION and that is different. Burn would consider releasing a new wallet with updated core. Such release would have to be a hard fork, and require exchanges update as well. Cryptopia would have to update the wallet too. That would be a burn. What they are doing is COLLECTING the FUNK coins. If something is collected it means it could be released back to the market. So what they are trying to do is to collect as much FUNK as possible to have control over it, and then to give newly printed tokens to the people in some ratio. Once FUNK is collected it could be easily pumped, and it will look that some other guys and not SONIC team is doing it. It is not the most honest way of doing things. Wrong. FUNK will be burned for real actually. Those who decide to burn it for Soniq will have to send FUNK to unspendable address. Those addresses will be published and they lack private key, so the coins will be deducted from supply for good. |
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Things are setting into place within Soniq team. Soon we'll open our Discord for community. Within a month we will launch a website, publish the whitepaper, open up for community, introduce our current team to y'all here, start a separate thread, and finally start burn process. It's quite likely we will also announce Soniq's first exchange but nothing is set in stone yet. Ah, also, our devs will fix current FUNK source and provide you with updated version of clients. That doesn't mean we'll continue FUNK development, it's just a bug they spotted and intend to fix. Again, whoever is willing and competent enough to take over FUNK development is more than welcome. |
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Personally, i'd love more of cheap FUNK but i'm afraid the new reality is one satoshi price will be the cheapest we will see.
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So, do we already have any date for a swap to SONIC?
Roughly, late Q1. The development is underway already, our estimate is to have our website with detailed roadmap, whitepaper and all the relevant info up in 3-4 weeks. |
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Soniq project will enable up to 50 billion of FUNK to be converted to Soniq in 1000:1 ratio in certain period of time - whichever comes first. Theoretically not all FUNK might be converted to Soniq + FUNK's supply will continue to grow beyond 50,000,000,000, so FUNK will continue it's life. On the other hand, Soniq will provide the real life use case - which, unfortunately, wasn't the case with FUNK.
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FUNK devs, why not to try to list FUNK in some small exchanges, in order to try to get some more people involved in trading the coin?
I recommend: Trade Satoshi, BTC-Alpha, Stocks.Exchange, ...
Well there are no active FUNK devs i know of. Unless someone take over it. I thought you are the dev!? We are the devs! What he meant was FUNK is going to be swapped for Soniq, which is what we are all working on. Haha, right. If you want to contribute to FUNK alone, good luck getting in touch with Simon de la Rouviere. Or just fork it. We are working on another project, Soniq, although i would love to see some active FUNK development - that would additionally boost the price of Soniq once it gets to the market. |
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FUNK devs, why not to try to list FUNK in some small exchanges, in order to try to get some more people involved in trading the coin?
I recommend: Trade Satoshi, BTC-Alpha, Stocks.Exchange, ...
Well there are no active FUNK devs i know of. Unless someone take over it. |
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Hi everyone. i`m a beginner at this, and i have a question: The funks i have at cryptopia, will the be switched to the new token? Sorry for my bad english Your English is good actually To answer your question - no, not by default. You will be able to convert your FUNK coin to Soniq token though, if you wish and as much as you wish. We will allow up to 50 billion FUNK coins burned. The window will be open for at least several months, but that's yet to be decided. Soon, Soniq project team will publish token burning app where you'll be able to submit your email, your soniq address and provide you with funk address. FUNK coins you send will then be deducted from total supply (burned) and new, Soniq tokens will be sent your way. I hope this helps clarify things a bit |
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The token (Soniq) price will be much higher, at least at >1000 satoshi range. I can't reveal much but there's more than one reason i'm certain it'll be worth at least 1000 sats. Also, Soniq will be listed on solid exchange for a start. Moving to token will gave us various advantages given the upcoming regulations, over regular coins, we took many factors into consideration. Needless to say, Soniq team is taking the whole project as a legitimate business -well just like GameCredits / GNation did. Was 10(ish) Litoshi buy to 1 satoshi sell a good profit - not at all, especially for those that realize it's potential. 1 satoshi is way undervalued. Keep in mind FUNK supply will decrease dramatically once FUNK to Soniq burn starts. |
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how many coins are currently in circulation?
A bit shy of 50 billion. https://www.cryptopia.co.nz/CoinInfo/?coin=FUNKEDIT: As some of you know, I'm a heavy metal vocalist. I'd be very interested in collaborating with other musicians to make a song or two that are exclusively available using Cypherfunks Yeah, one got to love Biomech's voice! I've heard him singing but i don't have it "on tape" but it's his voice on Gamecredits' racing game promo vid: https://www.youtube.com/watch?v=gtytR79Vv-g |
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FUNK wallet is up and running again. Not sure when the market(s) will resume though.
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The kind of help I can offer is what am doing right now. Pointing fingers?
THIS PROJECT MUST BE SUCCESSFUL EITHER WITH YOU OR WITHOUT YOU AND THAT IS THE HELP AM TRYING TO OFFER Again, what exactly do you offer?
I understand someone told you FUNK will be effin' huge and now you're shitting bricks. Well here's an advice for you: if you're waiting for something to show up, maybe you should start with rolling up your sleeves. Soon we'll move to a separate thread, the one focused on new token. Where are you gonna be then? Here, saying @soundposition didn't fulfill his promises? Cause he has. Or on the new thread asking when lambos? You don't need to answer that since i'm really been nice and trying to help you help yourself. |
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I am sure you read the whole thread before making an investment. You wouldn't consider yourself a real investor otherwise, right? So you know this project was abandoned by original dev, and some of us are trying to revive it. Let me address to your questions. 1. Not many people care about it, and, it's too damn cheap. Partially due to its insane supply. Not many exchanges are after such coins. 2. It's totally up to Cryptopia. IDK if it's laying low on their priority list or they're toying with it in some way, but the truth is: there's no regulation that would prevent them from keeping it locked for so long. Even though they're migrating LTC and DOGE based markets elsewhere, they'll need to enable withdrawals eventually. I understand there's not much activity from your point of view Jasonbeetle, but there's a lot of activity within Soniq team. Soon we'll have our Discord group open for public, but not before we have the final version of the roadmap and whitepaper - which will happen real soon. Let's just make this clear, once again: We're not taking FUNK project over. We're working on providing an option for holders to convert their FUNK for a functional token, with a real life use. Nothing is mandatory for FUNK holders, not now, not ever in the future as long as we're concerned. FUNK will be free to continue it's life, either as good ole FUNK, or through Soniq. |
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I wont cease to say the truth. This great project is the wrong hand. @soundposition is just wasting everyones' time. Your empty promises will not be accepted. You do not even care about people's issues about the current wallet, Your last post was 7 days ago. you barely have time for this project and you never want others who are free to assist you.
FYI: Funk have been de-listed from CMC
I am watching you closely and my secret countdown time is active. Expect our actions soon.
Are you a terrorist or something? Cause you sound like one. Why don't you tell us who you are, what's your background in crypto and why should anyone pay attention to what you think!? That way someone might take you seriously. Please tell us, what sort of help can you offer? Thanks |
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Thanks for the update @cryptpark. FUNK can be also traded here: https://novaexchange.com/market/LTC_FUNK/Needless to say Yobit keeps scamming people, they run FUNK-BTC trading pair every now and then while keeping wallets in maintenance mode in order to keep traders off from depositing FUNK. |
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Hi peeps! Alex Shavers, the cofounder of GameCredits here.
What makes me said is to see some starving people in fish rich sea that crypto is. What makes me pissed is to see $100 investors with a year old accounts bitching around.
Before any of you point finger at anyone, tell us who you are, what's your background, tell us about your achievement in crypto, and finally, why should we care.
I don't need to say Soundposition is legit guy, honest, dedicated and hard working. Needless to say, Nele is legend in crypto. I am also part of the team.
What we are doing is basically part of Simon's original plan, slightly improved. As soundposition already stated, nobody is hijacking the existing chain.
We are going to create a token with real life use. Everyone will be free to choose to keep the original coin or burn it for a new on.
Also whoever thinks to know better and is able to fork FUNK - go ahead and good luck.
Hello Alex! I think you know who I am Been out of the game for far too long. I was just throwing up some ideas. If it don't work, it don't work. I certainly won't interfere. Hey stranger! Yeah, i've heard the rumor there's a new sheriff in town. What i said above has nothing to do with you dear friend. I'm glad to see you back in a saddle! Now i'll PM you to keep all the sentimental bits off this thread. |
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Hi peeps! Alex Shavers, the cofounder of GameCredits here.
What makes me said is to see some starving people in fish rich sea that crypto is. What makes me pissed is to see $100 investors with a year old accounts bitching around.
Before any of you point finger at anyone, tell us who you are, what's your background, tell us about your achievement in crypto, and finally, why should we care.
I don't need to say Soundposition is legit guy, honest, dedicated and hard working. Needless to say, Nele is legend in crypto. I am also part of the team.
What we are doing is basically part of Simon's original plan, slightly improved. As soundposition already stated, nobody is hijacking the existing chain.
We are going to create a token with real life use. Everyone will be free to choose to keep the original coin or burn it for a new on.
Also whoever thinks to know better and is able to fork FUNK - go ahead and good luck.
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Hello CoolWave. Can you please speed up my transaction? 0b4ad0fbe874fc50684176c985c8ad2312cdaa99e7179eb4aba4ae4ea385bb7e
I offer 0.01 BTC.
TIA,
Shavers
I can do that . Upfront pay is needed . Sorry dude, won't work that way. My stake is bigger. Look at our trust level difference. All i can offer is to post here the TX after i tip you what i have promised. Then keep looking at my trust level. Someday it will get through . Fair enough  You're also free to look at the balance at the destination address. If i trusted scammers i wouldn't have that much. |
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