[ANN] 1337 [MANDATORY UPDATE] 41.78% APR| POS ONLY

[drnash85]

I've never been a fan of swaps. Swaps are how Goldman Sachs single-handedly bankrupted Greece along with the OK of their government. Swaps are also what caused the world IMF crisis... and swaps are pretty much what kills existing markets. So yeah, not a fan of swaps. Swaps affect the entire eco-system and not just the number of coins. It also gives a negative connotations such as we're washing our hands of the current situation and start something else. etc.... etc....  The alternative is change the stakes and work the coins.

i doubt a coinswap for 1337 will have such a global devastating impact... but could you explain this part? "change the stakes and work the coins"

as for 'changing the stake', i already did that twice and will continue to do that every 3 months. the next halving of the APR is scheduled around the 25th of november. im looking into a more user friendly way to do the upcoming halvings and i'll try to have them all included in the next wallet release so that users dont have to change wallets after every halving anymore.

Poll has been closed. final result was:

What is good today might not be good tomorrow

[Velvet78]

What is good today might not be good tomorrow

and whats good tomorrow might not be good the day after tomorrow? from my point of view theres not a whole lot thats good 'today' so im looking for ways to make it better for 'tomorrow'

[TeamDisaster]

Sorry if I've missed it somewhere, is there a trading start price after the proposed coin swap (and how much would it depend on which swap ends up being used and what % staking)?

1:1000 just seems a little extreme to me.  (But maybe that's just me!  )

[Velvet78]

Sorry if I've missed it somewhere, is there a trading start price after the proposed coin swap (and how much would it depend on which swap ends up being used and what % staking)?

1:1000 just seems a little extreme to me.  (But maybe that's just me!  )

the market will decide the price. and thats why i posted a new poll, to get feedback from the community

[Velvet78]

Sorry if I've missed it somewhere, is there a trading start price after the proposed coin swap (and how much would it depend on which swap ends up being used and what % staking)?

1:1000 just seems a little extreme to me.  (But maybe that's just me!  )

the market will decide the price. and thats why i posted a new poll, to get feedback from the community

ahuh, like asking kids what they prefer - more lollipops or bigger lollipops,
it's a difficult choice but in the end bigger will always prevail

youre on a roll today

[freebitcoins4u]

so the swap is on 25th of november?

[Velvet78]

so the swap is on 25th of november?

i have no ETA on the swap yet till i know the ratio and APR that the community wants. the next halving of 1337 (the current coin) will be around the 25th of november. the poll will stay open for 2 weeks.

[drnash85]

What is good today might not be good tomorrow

and whats good tomorrow might not be good the day after tomorrow? from my point of view theres not a whole lot thats good 'today' so im looking for ways to make it better for 'tomorrow'

If you like it I love It.

[BTC-BTC-BTC]

so the swap is on 25th of november?

i have no ETA on the swap yet till i know the ratio and APR that the community wants. the next halving of 1337 (the current coin) will be around the 25th of november. the poll will stay open for 2 weeks.

I agreed with the swap. It will jump start the project again. Now just matter of finding the right balance on the swap ratios and APR.

[bredsaal]

I for one am very excited that the swap is going to take place!

I can't vote yet, but I hope the guys who can vote puts some thought into their choice. :-)

[bitmaster1x]

I've never been a fan of swaps. Swaps are how Goldman Sachs single-handedly bankrupted Greece along with the OK of their government. Swaps are also what caused the world IMF crisis... and swaps are pretty much what kills existing markets. So yeah, not a fan of swaps. Swaps affect the entire eco-system and not just the number of coins. It also gives a negative connotations such as we're washing our hands of the current situation and start something else. etc.... etc....  The alternative is change the stakes and work the coins.

i doubt a coinswap for 1337 will have such a global devastating impact... but could you explain this part? "change the stakes and work the coins"

as for 'changing the stake', i already did that twice and will continue to do that every 3 months. the next halving of the APR is scheduled around the 25th of november. im looking into a more user friendly way to do the upcoming halvings and i'll try to have them all included in the next wallet release so that users dont have to change wallets after every halving anymore.

Poll has been closed. final result was:

What is good today might not be good tomorrow

When you swap, you'll just be repeating history only to do it again. In regards to working the coins, you can decrease the stakes to a point where it is not feasible for exchanges that stake coins. Increase the number of uses for the coins to give it some utility and start culling in the coins with low sell orders. Focus on the two points, this way if someone wanted the coins they'd have to buy it getting rid of glut on the exchanges and by decreasing the stakes, it will decrease the hemorrhaging of the coins to the point it can reverse itself via utility and usage.

[vella85]

I have just cast my vote and I think this is the right move to make by the dev to help kick start this coin again. In the end I think the dev and community will make the right decision to help the coin do better.

[Velvet78]

I have just cast my vote and I think this is the right move to make by the dev to help kick start this coin again. In the end I think the dev and community will make the right decision to help the coin do better.

I hope so too since im running out of options otherwise :/

to the ppl that are still complaining about the swap:

1. you dont have to swap, feel free to stay with the current coin.
2. without a swap i wont be able to continue with any project and it would be the end of this story pretty quick.

[bitmaster1x]

I have just cast my vote and I think this is the right move to make by the dev to help kick start this coin again. In the end I think the dev and community will make the right decision to help the coin do better.

I hope so too since im running out of options otherwise :/

to the ppl that are still complaining about the swap:

1. you dont have to swap, feel free to stay with the current coin.
2. without a swap i wont be able to continue with any project and it would be the end of this story pretty quick.

Would the coin (1337) still be maintained and continued dev'd with continued expansion of market usage venues? or will it simply be abandoned?

In regards, to the swap. What do you have in mind that would make different or viable after the swap and not end up in the same predicament? (Hence a repeat of history)

[Velvet78]

I have just cast my vote and I think this is the right move to make by the dev to help kick start this coin again. In the end I think the dev and community will make the right decision to help the coin do better.

I hope so too since im running out of options otherwise :/

to the ppl that are still complaining about the swap:

1. you dont have to swap, feel free to stay with the current coin.
2. without a swap i wont be able to continue with any project and it would be the end of this story pretty quick.

Would the coin (1337) still be maintained and continued dev'd with continued expansion of market usage venues? or will it simply be abandoned?

In regards, to the swap. What do you have in mind that would make different or viable after the swap and not end up in the same predicament? (Hence a repeat of history)

nothing is getting abandoned. like i said before, my projects need liquidity, i simply need to be able to sell my stakes to buy stuff for stake2play and the API of our payment processor doesnt work when theres no buy order so it cant convert the price from USD to 1337 (i have to list the prices in USD in the webshop). but ill continue to dev it code wise. and maybe the sell pressure will become less after the swap so i could use it again for my purposes.

What do you have in mind that would make different or viable after the swap and not end up in the same predicament?

the idea is as follows, lets take the 100:1 swap with 133.7% APR as an example and lets say that 60% gets swapped of a total supply of 11B 1337...

1. 60% of 11B would get burned during this process. bringing the actual supply of 1337 down to 4.4B
2. decreasing the supply will most likely also decrease the amount of 1337 that are currently in sell orders on exchanges which would hopefully give the price the opportunity to rise again.
3. the new coin would have an actual supply of 66M (pre-mined coins that arent used for the swap will get burned at the end of the swap period) with an APR of 'just' 133.7%, which hopefully would still be interesting enough for stakers to stake but could also be interesting for the traders on the exchanges who are not staking.
4. finalizing the projects like stake2play could give the price a bump and make the community grow even bigger.
5. having a coin with some value opens doors for other things like gaming tournaments and tipping to get more gamers involved outside of crypto.

[freebitcoins4u]

I have just cast my vote and I think this is the right move to make by the dev to help kick start this coin again. In the end I think the dev and community will make the right decision to help the coin do better.

I hope so too since im running out of options otherwise :/

to the ppl that are still complaining about the swap:

1. you dont have to swap, feel free to stay with the current coin.
2. without a swap i wont be able to continue with any project and it would be the end of this story pretty quick.

Would the coin (1337) still be maintained and continued dev'd with continued expansion of market usage venues? or will it simply be abandoned?

In regards, to the swap. What do you have in mind that would make different or viable after the swap and not end up in the same predicament? (Hence a repeat of history)

nothing is getting abandoned. like i said before, my projects need liquidity, i simply need to be able to sell my stakes to buy stuff for stake2play and the API of our payment processor doesnt work when theres no buy order so it cant convert the price from USD to 1337 (i have to list the prices in USD in the webshop). but ill continue to dev it code wise. and maybe the sell pressure will become less after the swap so i could use it again for my purposes.

What do you have in mind that would make different or viable after the swap and not end up in the same predicament?

the idea is as follows, lets take the 100:1 swap with 133.7% APR as an example and lets say that 60% gets swapped of a total supply of 11B 1337...

1. 60% of 11B would get burned during this process. bringing the actual supply of 1337 down to 4.4B
2. decreasing the supply will most likely also decrease the amount of 1337 that are currently in sell orders on exchanges which would hopefully give the price the opportunity to rise again.
3. the new coin would have an actual supply of 66M (pre-mined coins that arent used for the swap will get burned at the end of the swap period) with an APR of 'just' 133.7%, which hopefully would still be interesting enough for stakers to stake but could also be interesting for the traders on the exchanges who are not staking.
4. finalizing the projects like stake2play could give the price a bump and make the community grow even bigger.
5. having a coin with some value opens doors for other things like gaming tournaments and tipping to get more gamers involved outside of crypto.

who's coin will be burn? if i have 100 coins at my wallet (or at poswallet or at an exchange wallet) and we are doing the swap 100:1. it means that 99 coins will dissapear from my wallet automatically?

[Velvet78]

I have just cast my vote and I think this is the right move to make by the dev to help kick start this coin again. In the end I think the dev and community will make the right decision to help the coin do better.

I hope so too since im running out of options otherwise :/

to the ppl that are still complaining about the swap:

1. you dont have to swap, feel free to stay with the current coin.
2. without a swap i wont be able to continue with any project and it would be the end of this story pretty quick.

Would the coin (1337) still be maintained and continued dev'd with continued expansion of market usage venues? or will it simply be abandoned?

In regards, to the swap. What do you have in mind that would make different or viable after the swap and not end up in the same predicament? (Hence a repeat of history)

nothing is getting abandoned. like i said before, my projects need liquidity, i simply need to be able to sell my stakes to buy stuff for stake2play and the API of our payment processor doesnt work when theres no buy order so it cant convert the price from USD to 1337 (i have to list the prices in USD in the webshop). but ill continue to dev it code wise. and maybe the sell pressure will become less after the swap so i could use it again for my purposes.

What do you have in mind that would make different or viable after the swap and not end up in the same predicament?

the idea is as follows, lets take the 100:1 swap with 133.7% APR as an example and lets say that 60% gets swapped of a total supply of 11B 1337...

1. 60% of 11B would get burned during this process. bringing the actual supply of 1337 down to 4.4B
2. decreasing the supply will most likely also decrease the amount of 1337 that are currently in sell orders on exchanges which would hopefully give the price the opportunity to rise again.
3. the new coin would have an actual supply of 66M (pre-mined coins that arent used for the swap will get burned at the end of the swap period) with an APR of 'just' 133.7%, which hopefully would still be interesting enough for stakers to stake but could also be interesting for the traders on the exchanges who are not staking.
4. finalizing the projects like stake2play could give the price a bump and make the community grow even bigger.
5. having a coin with some value opens doors for other things like gaming tournaments and tipping to get more gamers involved outside of crypto.

who's coin will be burn? if i have 100 coins at my wallet (or at poswallet or at an exchange wallet) and we are doing the swap 100:1. it means that 99 coins will dissapear from my wallet automatically?

no, not at all. if you have 100 1337 on an exchange you will keep 100 1337 on there. the swap is optional

[vella85]

Hi dev,

Does the dev of POSwallet know about the swap and what will happen to the coins that people have in POSwallet? Will they be swapped for the new 1337 coin or stay the same?

Also I came across a crypto chat site that also has a faucet and I was thinking maybe you can contact the owner and get 1337 coin added to their faucet as they are looking to add more coins to the faucet.

The site is https://thecryptochat.net/

[Velvet78]

Hi dev,

Does the dev of POSwallet know about the swap and what will happen to the coins that people have in POSwallet? Will they be swapped for the new 1337 coin or stay the same?

Also I came across a crypto chat site that also has a faucet and I was thinking maybe you can contact the owner and get 1337 coin added to their faucet as they are looking to add more coins to the faucet.

The site is https://thecryptochat.net/

hi vella, nothing would change for the ppl holding 1337 on poswallet or any exchanges. i'll ask the dev of poswallet if he wants to add the new coin to his staking pool once i know more details.

would you be so kind to contact the guys from thecryptochat yourself and provide me with their address if they are adding 1337 to their faucet? t.i.a

[vella85]

Hi dev,

Does the dev of POSwallet know about the swap and what will happen to the coins that people have in POSwallet? Will they be swapped for the new 1337 coin or stay the same?

Also I came across a crypto chat site that also has a faucet and I was thinking maybe you can contact the owner and get 1337 coin added to their faucet as they are looking to add more coins to the faucet.

The site is https://thecryptochat.net/

hi vella, nothing would change for the ppl holding 1337 on poswallet or any exchanges. i'll ask the dev of poswallet if he wants to add the new coin to his staking pool once i know more details.

would you be so kind to contact the guys from thecryptochat yourself and provide me with their address if they are adding 1337 to their faucet? t.i.a

Okay thanks for letting us know as I know there are a lot of people holding 1337 coins in POSwallet but just say people wanted to exchange the coins on there for the new coin, will they be able to do that?

Yes I could do that for you and hopefully they will add 1337 coin. I'll get back to you once I have a reply.