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Author Topic: [ANN] STRAKS - A POW/Masternode Cryptocurrency focused on e-commerce utility  (Read 100294 times)
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redsun17
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November 21, 2017, 04:37:02 PM
 #181

Just curious - what is the reason behind the swap?  Is it just a rescue of the SIGT community?

With over 100 million SIGT out there, the price of STRAKS is going to be temporarily limited by the price of SIGT I think.  

Here is an example: if I can get 1 STRAK for every 4 SIGT, and SIGT is 1.5 US cents, then I know I can basically buy a STRAK For 6 cents.  If I can effectively buy STRAK for 6 cents each, then anytime the STRAK price goes above 6 cents there is an arbitrage opportunity, and people will buy SIGT to swap and sell STRAK down to 6 cents.

I'm not saying you shouldn't swap to SIGT.  I'm just curious why that became part of the coin (I don't think it's explained in the ANN unless I missed it, and it doesn't seem relevant to your roadmap beyond rescuing SIGT).  The arbitrage opportunites will only exist until the SIGT swap closes, and after that I'm sure the STRAK price will grow just fine.  It might be good to have a second source of STRAK generation (the swaps) aside from just mining/buying, but the reasons should be in the ANN.

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November 21, 2017, 04:44:32 PM
 #182

Just curious - what is the reason behind the swap?  Is it just a rescue of the SIGT community?

With over 100 million SIGT out there, the price of STRAKS is going to be temporarily limited by the price of SIGT I think.  

Here is an example: if I can get 1 STRAK for every 4 SIGT, and SIGT is 1.5 US cents, then I know I can basically buy a STRAK For 6 cents.  If I can effectively buy STRAK for 6 cents each, then anytime the STRAK price goes above 6 cents there is an arbitrage opportunity, and people will buy SIGT to swap and sell STRAK down to 6 cents.

I'm not saying you shouldn't swap to SIGT.  I'm just curious why that became part of the coin (I don't think it's explained in the ANN unless I missed it, and it doesn't seem relevant to your roadmap beyond rescuing SIGT).  The arbitrage opportunites will only exist until the SIGT swap closes, and after that I'm sure the STRAK price will grow just fine.  It might be good to have a second source of STRAK generation (the swaps) aside from just mining/buying, but the reasons should be in the ANN.

One point is that the coin swap will only be offered for 1 month or less.
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November 21, 2017, 04:44:45 PM
 #183

Just curious - what is the reason behind the swap?  Is it just a rescue of the SIGT community?
It's simple. The coins are reserved for swap. Noone will be able to count how much were really  swapped. So it's additional hidden premine. Grin
Yes yes - some coins will be burnt or airdropped or smth else - of course everything must look "fair".  Grin
All shitcoins are "fair" ..... until dump.  Grin
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November 21, 2017, 04:55:36 PM
 #184

run stracksd.exe = Error: -daemon is not supported on this operating system
64-bit windows 10 pro
ver 1703
build 15063.726

-daemon is for running like service in background, do you really want this?
Remove or comment this option in coinfig file
I think Windows QT wallet just ignore this parameter

thank you. daemon 1 was in straks.conf proposed in this thread.

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November 21, 2017, 05:05:34 PM
 #185

Hi, do we have an exact hour or a countdown to know when the mining will start?

thx
Wait for the block 10080 here:
https://straks.info/

thx

but with 1 block every 60s, it will be in about 43 hours. It will be thursday in almost every country in the world no? Cheesy
STRAKS
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November 21, 2017, 05:13:16 PM
 #186

Just curious - what is the reason behind the swap?  Is it just a rescue of the SIGT community?
It's simple. The coins are reserved for swap. Noone will be able to count how much were really  swapped. So it's additional hidden premine. Grin
Yes yes - some coins will be burnt or airdropped or smth else - of course everything must look "fair".  Grin
All shitcoins are "fair" ..... until dump.  Grin


There will be a public burn address available on the Signatum block explorer, in plain view for everyone to see and follow. If you know how many coins are swapped/burned, a quick division by 4 will give you the total number of STRAKS of the dedicated swap supply (which you can follow transparently on the rich-list, it carries the tag "swap") that is distributed to SIGT coin-holders during the swap period. The Signatum burn address and the STRAKS addressed dedicated exclusively for the swap, have to match up at a ratio of 4:1, if not then you know there is an issue. No STRAKS from that address can be given out during that 30-day period without the required swap amount from Signatum matching it.

Any coins that remain unswapped at the end of the 30 day swap-period, we have communicated clearly and transparently will be split 40/60 between the treasury fund (to pay for ongoing operational expenses - which will also be made public - like the listing fee coverage from the donation fund was today) and air-drops.

When there is full transparency, there is zero chance of any of those scenarios happening, that you are concerned about.
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November 21, 2017, 05:16:14 PM
 #187

follow the money

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November 21, 2017, 05:17:56 PM
 #188

The swap appears high

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November 21, 2017, 05:23:45 PM
 #189

What does this command do? And what does the number mean?
Code:
straks-cli.exe generatetoaddress 1 <generated_address>

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November 21, 2017, 05:24:48 PM
 #190

Hi, do we have an exact hour or a countdown to know when the mining will start?

thx
Wait for the block 10080 here:
https://straks.info/

thx

but with 1 block every 60s, it will be in about 43 hours. It will be thursday in almost every country in the world no? Cheesy
Yes, you right, also in Explorer you can see "2 days till start" )) (Rewards in 2 days)

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November 21, 2017, 05:30:40 PM
 #191

What does this command do? And what does the number mean?
Code:
straks-cli.exe generatetoaddress 1 <generated_address>

This will try to mine using your CPU to the given address. 1 means 1 block i think.
allthebitandbobs
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November 21, 2017, 05:35:09 PM
 #192

seem interesting going to have to keep a eye on this  Grin

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ra213
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November 21, 2017, 05:44:02 PM
 #193

What does this command do? And what does the number mean?
Code:
straks-cli.exe generatetoaddress 1 <generated_address>

This will try to mine using your CPU to the given address. 1 means 1 block i think.

Can you increase that number, if you have a multicore cpu? Maybe eight for a ryzen.

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November 21, 2017, 05:47:01 PM
 #194

Hello, friends. If i have some SIGT on Yobit-wallet, may i change (swap) them to new Straks in Future? or i need sigt local wallet?
You need to send your Sigt from your wallet, not from an exchange, so you should download Sigt local wallet.
More of swapping details will be announced on 29th.

Where did this swap idea come from?
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November 21, 2017, 05:50:30 PM
 #195

Hello, friends. If i have some SIGT on Yobit-wallet, may i change (swap) them to new Straks in Future? or i need sigt local wallet?
You need to send your Sigt from your wallet, not from an exchange, so you should download Sigt local wallet.
More of swapping details will be announced on 29th.

Where did this swap idea come from?

It is the otherway around. This coin came from swap idea . But they did a good job adopting new technologies though .
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November 21, 2017, 05:52:46 PM
 #196

What does this command do? And what does the number mean?
Code:
straks-cli.exe generatetoaddress 1 <generated_address>

This will try to mine using your CPU to the given address. 1 means 1 block i think.

Can you increase that number, if you have a multicore cpu? Maybe eight for a ryzen.

I dont think that number has anything to do with CPU cores. May be you can try running multiple instances of the same bat file and see whether more cores are used .
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November 21, 2017, 06:01:47 PM
 #197

follow the money



Where is the original announcement for the coin swap? I can't find it anywhere.   
ra213
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November 21, 2017, 06:13:38 PM
 #198

What does this command do? And what does the number mean?
Code:
straks-cli.exe generatetoaddress 1 <generated_address>

This will try to mine using your CPU to the given address. 1 means 1 block i think.

Can you increase that number, if you have a multicore cpu? Maybe eight for a ryzen.

I dont think that number has anything to do with CPU cores. May be you can try running multiple instances of the same bat file and see whether more cores are used .

I checked the source. It´s the number of blocks that are generated.

Code:
  while (nHeight < nHeightEnd)
    {
        std::unique_ptr<CBlockTemplate> pblocktemplate(BlockAssembler(Params()).CreateNewBlock(coinbaseScript->reserveScript));
        ...

nHeightEnd is the current block plus the passed number.

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    Own Your Privacy! ─────────────────║ WebsiteGithub  |  Bitcointalk  |  Twitter  |  Discord  |  Explorer ║─────────────────
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November 21, 2017, 06:20:52 PM
 #199

Hello, friends. If i have some SIGT on Yobit-wallet, may i change (swap) them to new Straks in Future? or i need sigt local wallet?
You need to send your Sigt from your wallet, not from an exchange, so you should download Sigt local wallet.
More of swapping details will be announced on 29th.
When SWAP (SIGT-STRACKS) will be processed ?
Will it be any ammount limit ?
Will it be possible to swap SIGT to get 50000 STRACKS ?
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November 21, 2017, 06:21:11 PM
 #200

https://github.com/straks/straks

At the bottom you will find all informations about the swap and what not.
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