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Author Topic: [ANN] STRAKS - A POW/Masternode Cryptocurrency focused on e-commerce utility  (Read 122863 times)
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Marco Bignoses
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November 25, 2017, 06:01:02 PM
Last edit: November 25, 2017, 06:39:16 PM by Marco Bignoses
 #781

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The devs also did not have to try and market their new shitcoin to a great community for their own profits. That is all that they did, they played on the emotions of those SIGT bag holders, rather than building their coin from scratch, because they don't have the skill to do so.

No actually they gave Sigt holders one extra option, as after Doc and SigtD left you only had two options, sell, or hold and wait for a divine intervention.

Like i said im not in total agreement with the timeframe, but it sure beats the hell out of watching a further pump of Signatum to watch it get immedietly dumped on Straks, and everybody complaining about that scenario with the same old "Shitcoin and Scam" accusations.
 

The real problem is that they talk shit about TRANSPARENCY and COMMUNITY ORIENTED COIN. Also the Devs are Signatum bagholders, and the way they communicate the news, with this timing, seems really like they just bought low more Sigt and sell during the MN's fomo, because just an idiot can't think before about the fomo that they'd create communicating "50k straks for a MN". So the price of Sigt rised up and they simply sell off they're bags. After few hours they communicate the Swap Mechanism. They should had communicate the swap details before the masternodes collateral details. They just act like scammers with their community. They don't give to the community the swap details when they call the votation. Also they let their community free to think that with 200k sigt collateral they can easily get a MN. No one advice the community during the fomo, and the devs are active on the discord channel. Too much thing smells like shit. Now they try to separate the Straks community from Sigt community, but they was Sigt bagholders too and they found the new community with the sigt community's blood. Without sigt's community this coin is nothing. And it's a great and strong community. For the moment they just troll the community for save their asses and piss off their sigt coins high with a perfect insider trading.
Just in case they don't want to do this, they are just 11morons not able to drive a coin to some kind of goal, because if they had not thinking about this and acting in this way, there will be not a shiny future for this coin because they simply don't understand the markets dinamics. But imho, they just had take advantage giving us not transparent information about all the entire project.
Well done, best community oriented and transparent coin!
Thank you for all.
I wish to see their sigt wallets some days ago and now. LOL unfortunately is quiete too late.
This is the major point, not the swap dinamics, also if I don't agree. The biggest shit is their way to use the community, the news comeout timing and the entire way they move on at this point. A transparent dev's project, don't go ahead in this way for sure.
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November 25, 2017, 06:03:38 PM
 #782

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Rate:

Year 1: Mining Supply   5,184,000 STAK;
   Swap Supply    5,184,000 STAK;
   Agg. Supply    10,368,000 STAK;

STRAKS Developers Allocation:    6,875,000 STAK
Add here 5% fee on PoW.

A whole year of mine, the fact that the developers already have in STAK! What about the 6 years you say?

At least, need to reconsider:
1) getting Developers their 6,875,000 STAK to 6 years;
2) the entry threshold of 50,000 STAK at the POS.

The developers for the first year will merge their STRAKS, and the second will close the project!
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November 25, 2017, 06:34:39 PM
 #783

I am looking forward to the exchanges that Straks will be listed. Which one will be the chosen.

Yobit application has already been sent and there appears to be a new exchange that has listed Straks here; https://koinbi.com/markets/stakbtc  however, a word of warning, approach this with caution, many new exchanges

have been known to setup and run with your coins. I am not saying they will, just be careful, if you feel its not right walk away and wait for Yobit or others.
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November 25, 2017, 06:58:12 PM
 #784

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The devs also did not have to try and market their new shitcoin to a great community for their own profits. That is all that they did, they played on the emotions of those SIGT bag holders, rather than building their coin from scratch, because they don't have the skill to do so.

No actually they gave Sigt holders one extra option, as after Doc and SigtD left you only had two options, sell, or hold and wait for a divine intervention.

Like i said im not in total agreement with the timeframe, but it sure beats the hell out of watching a further pump of Signatum to watch it get immedietly dumped on Straks, and everybody complaining about that scenario with the same old "Shitcoin and Scam" accusations.
 

Yep and they could have left the options there, rather than trying to "burn" (which we all know they are not going to do) the coins and pump it and dump again.

The DOC was not the original dev, nor was SigtD.

The original dev did the right thing, he made the coin and went away, just like Bitcoin.
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November 25, 2017, 06:59:17 PM
 #785

And now what i can do? To change or not?
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November 25, 2017, 07:03:14 PM
 #786

We need a better Telegram channel where members can chat
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November 25, 2017, 07:06:37 PM
 #787

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The devs also did not have to try and market their new shitcoin to a great community for their own profits. That is all that they did, they played on the emotions of those SIGT bag holders, rather than building their coin from scratch, because they don't have the skill to do so.

No actually they gave Sigt holders one extra option, as after Doc and SigtD left you only had two options, sell, or hold and wait for a divine intervention.

Like i said im not in total agreement with the timeframe, but it sure beats the hell out of watching a further pump of Signatum to watch it get immedietly dumped on Straks, and everybody complaining about that scenario with the same old "Shitcoin and Scam" accusations.
 

The real problem is that they talk shit about TRANSPARENCY and COMMUNITY ORIENTED COIN. Also the Devs are Signatum bagholders, and the way they communicate the news, with this timing, seems really like they just bought low more Sigt and sell during the MN's fomo, because just an idiot can't think before about the fomo that they'd create communicating "50k straks for a MN". So the price of Sigt rised up and they simply sell off they're bags. After few hours they communicate the Swap Mechanism. They should had communicate the swap details before the masternodes collateral details. They just act like scammers with their community. They don't give to the community the swap details when they call the votation. Also they let their community free to think that with 200k sigt collateral they can easily get a MN. No one advice the community during the fomo, and the devs are active on the discord channel. Too much thing smells like shit. Now they try to separate the Straks community from Sigt community, but they was Sigt bagholders too and they found the new community with the sigt community's blood. Without sigt's community this coin is nothing. And it's a great and strong community. For the moment they just troll the community for save their asses and piss off their sigt coins high with a perfect insider trading.
Just in case they don't want to do this, they are just 11morons not able to drive a coin to some kind of goal, because if they had not thinking about this and acting in this way, there will be not a shiny future for this coin because they simply don't understand the markets dinamics. But imho, they just had take advantage giving us not transparent information about all the entire project.
Well done, best community oriented and transparent coin!
Thank you for all.
I wish to see their sigt wallets some days ago and now. LOL unfortunately is quiete too late.
This is the major point, not the swap dinamics, also if I don't agree. The biggest shit is their way to use the community, the news comeout timing and the entire way they move on at this point. A transparent dev's project, don't go ahead in this way for sure.

Marco -- I am glad you see the light like many do. I have been banned from their Discord 3 times now (Working on 4), because I was asking questions they did not like .

The main one is, where is the white paper?

That is sad that they were going to prey on these emotional people. This gives ALL of us in crypto a bad name.

I also find it funny that the GH went from 750 to under 75 yesterday. Also, you need a huge pre-mine AND a dev fee AND TX fees? Come on.
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November 25, 2017, 07:12:41 PM
 #788

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The DOC was not the original dev, nor was SigtD.

The original dev did the right thing, he made the coin and went away, just like Bitcoin.

This will put an end to that theory https://github.com/signatumd
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November 25, 2017, 07:30:05 PM
 #789

Straks used signatum community for advertise and  hype around coin, 1 TH/s  at start, testnet and  other things... dont  think it could  happen without signatum

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November 25, 2017, 07:42:54 PM
Last edit: November 25, 2017, 08:26:46 PM by Easteregg69
 #790

This is a boring coin. 4 mined a day with a gtx 980. And its brand new. I expect 10.000 coins a day at that stadium.
 
I shall mine a single or two and then i'm on to something new. zcash or zen or something that pays you for your hard work.

PS: Don't wanna be a downer. My mining stats says Unconfirmed: 0.0828 STAK. That is a beginning.
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November 25, 2017, 07:45:41 PM
 #791

For sure this couldn't happen withut signatum, but atm they just pissed off their community.
I was banned from Discord too because I shared my opinion.
All this fud was so easy to prevent. Clear news and a simply clear timing that don't seems like fishing for sell their bags high.
In a way or another, if they don't understand this, I have many doubts about their ability to drive this project to somewhere.
Imho now they probably done with this swap and fucked up their community even more again. Maybe this coin will not born too, and this should be the prove that they do what i said.
Really sad, this community have a great potential, but seems like no one have the brain to use the potential well.
I hope someone create another kind of swap or something similar to piss of all this shit.
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November 25, 2017, 07:52:49 PM
 #792

If you wanted to save the bag holders of signatum, then developers should have just done a 2:1 swap with SIGT for 1 month or so (as to favor mining), no burn, keep the original algorithm (So both AMD/NVidia can mine) but bring it out of PoS and continue PoW, because PoS was clearly not working, zero premine, zero fee, same block reward as SIGT.

This would have probably made the coin survive for a little while longer due SIGT popularity and probably bailed out some people, but probably would have burned down the road anyways, unless developer continued to work on it.

SIGT in principle was a good coin, but some of the shady devs ruined it (with all the scams, pump/dump, poor communication) and Proof of Stake didn't appear to work that well.

If you wanted a new coin, with the same conditions as you have now. Should not have done the whole swap at all. Granted the coin would get very limited interest, but at least some people would mine it.

From what I am reading and further analyzing it seems to me that this project is pretty much doomed from the start.

Also making a coin on discord, should be done more visibly on forums/websites instead, it keeps a better record. Because not everyone was interested sitting in chat and reading about it.
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November 25, 2017, 08:18:18 PM
 #793

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

Oh please, you were complaining about Straks mining not being profitable because of the Sigt swap. In fact your exact words were:

LOL coming from someone with -4 trust.  The fact that you can buy another coin for a swap cheaper than mining shows how unfair this coin is.  If its cheaper to buy another coin who is going to mine it?  If its not mined, how does the blockchain move?  A coin swap in this case literally serves no purpose other than to pad the wallet of bagholders.  Say what you want, but certainly the devs are holding a significant amount of SIGT.  And if they are not, they are complete fucking idiots, because this coin will never be more valuable than 4x the value of SIGT, which is essentially worthless.  Imagine what would happen to the value of the American dollar if the government announced that it would start exchanging $1 for 4 Venezuelan Bolivars.

Now after the latest announcement the situation has changed; it became clear that the coins from Sigt swap will not immediately flood the Straks market. That's a good sign for Straks and means the value of Straks can go much higher. It also means the profitability of mining is much better. In essence you got what you asked. But you're still here complaining.  Huh

Btw, the swap information is present in the annoucement since yesterday, see update UPDATE - 24th November.

I was also surprised by the latest announcement. It means people who own Sigt can't immediately get their money back. Six years is a long time to wait. I can understand many people are upset because of that. I agree the devs should have clarified the details of the swap sooner. Then again, people assumed a swap means an instant swap. I admit I was one of them and did profitability calculations based on it. However, I still think you can make profit by buying Sigt. You can think it's like an investment to an ASIC miner. An ASIC miner has a fixed upfront cost and in return you get specific coins back each month until the ASIC miner becomes outdated. In the same way you can now buy Sigt coins (upfront cost) and in return get Straks coins back each month for six years. The profitability depends on how much you pay for Sigt and what's the value of Straks in the future.


Yet the devs would have done nothing if I hadn't brought this to everyone's attention.  They got caught red handed and had to make a change.  It really doesn't matter what time period the swap happens over, this coin was dead on arrival.  Its been exposed as nothing more than a pump for SIGT.  And once the devs get all of this sigt, what is stopping them from just selling it back on the exchange?  Too many red flags with this coin.  Important and basic information is missing from the bitcointalk announcement.  Missing from their website, missing from facebook missing from Twitter.  We are forced to get our info from the Signatum 2.0 thread, github or discord. 

And yes you are right, there is a link to the swap change in the 2ND post, not the first.  The ironic thing is that there is still no mention of the original swap.  Its like they are giving updates on non-existent information.
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November 25, 2017, 08:18:59 PM
 #794


haha - all this drama man.

I kinda understand their decision but 6 years might be a lil overkill indeed.

ofc partly makes sense but the way they did was wrong and on top of that to bind people 6 years is really bad 6years in crypto is like 12 normal years
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November 25, 2017, 08:19:25 PM
 #795

If you wanted to save the bag holders of signatum, then developers should have just done a 2:1 swap with SIGT for 1 month or so (as to favor mining), no burn, keep the original algorithm (So both AMD/NVidia can mine) but bring it out of PoS and continue PoW, because PoS was clearly not working, zero premine, zero fee, same block reward as SIGT.

This would have probably made the coin survive for a little while longer due SIGT popularity and probably bailed out some people, but probably would have burned down the road anyways, unless developer continued to work on it.

SIGT in principle was a good coin, but some of the shady devs ruined it (with all the scams, pump/dump, poor communication) and Proof of Stake didn't appear to work that well.

If you wanted a new coin, with the same conditions as you have now. Should not have done the whole swap at all. Granted the coin would get very limited interest, but at least some people would mine it.

From what I am reading and further analyzing it seems to me that this project is pretty much doomed from the start.

Also making a coin on discord, should be done more visibly on forums/websites instead, it keeps a better record. Because not everyone was interested sitting in chat and reading about it.

Amen to this.  You hit the nail on the head.
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November 25, 2017, 08:40:13 PM
 #796

I'm just a little confused with the swap process..so if I have 10,000 sigt and want to swap them in the first month for straks, is the total amount swapped for that month based on a first come first serve basis?  So if someone had the months swap supply of sigt in there wallet, could they swap them all at once if they where first in line? Thanks
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November 25, 2017, 08:55:19 PM
 #797

I'm just a little confused with the swap process..so if I have 10,000 sigt and want to swap them in the first month for straks, is the total amount swapped for that month based on a first come first serve basis?  So if someone had the months swap supply of sigt in there wallet, could they swap them all at once if they where first in line? Thanks

I read the information of the swap on github as well and I don't really see specific details on how and under what priority the swap will take place, except that you will need to pre-register and use a discord bot to do the trade. Could easily be abused, from what i can see.

Unless I am missing something?
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November 25, 2017, 09:20:13 PM
 #798

But yes, according to STRAKS Richlist, DeckerSU didnt got his bounty yet. Why so?
Today i'm received promised reward from squbs, all is ok. Seems we can trust strak's devs in their promises. They do a big work and I wish further success, growth and prosperity to this project.


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November 25, 2017, 09:31:18 PM
 #799

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

Oh please, you were complaining about Straks mining not being profitable because of the Sigt swap. In fact your exact words were:

LOL coming from someone with -4 trust.  The fact that you can buy another coin for a swap cheaper than mining shows how unfair this coin is.  If its cheaper to buy another coin who is going to mine it?  If its not mined, how does the blockchain move?  A coin swap in this case literally serves no purpose other than to pad the wallet of bagholders.  Say what you want, but certainly the devs are holding a significant amount of SIGT.  And if they are not, they are complete fucking idiots, because this coin will never be more valuable than 4x the value of SIGT, which is essentially worthless.  Imagine what would happen to the value of the American dollar if the government announced that it would start exchanging $1 for 4 Venezuelan Bolivars.

Now after the latest announcement the situation has changed; it became clear that the coins from Sigt swap will not immediately flood the Straks market. That's a good sign for Straks and means the value of Straks can go much higher. It also means the profitability of mining is much better. In essence you got what you asked. But you're still here complaining.  Huh

Btw, the swap information is present in the annoucement since yesterday, see update UPDATE - 24th November.

I was also surprised by the latest announcement. It means people who own Sigt can't immediately get their money back. Six years is a long time to wait. I can understand many people are upset because of that. I agree the devs should have clarified the details of the swap sooner. Then again, people assumed a swap means an instant swap. I admit I was one of them and did profitability calculations based on it. However, I still think you can make profit by buying Sigt. You can think it's like an investment to an ASIC miner. An ASIC miner has a fixed upfront cost and in return you get specific coins back each month until the ASIC miner becomes outdated. In the same way you can now buy Sigt coins (upfront cost) and in return get Straks coins back each month for six years. The profitability depends on how much you pay for Sigt and what's the value of Straks in the future.


Yet the devs would have done nothing if I hadn't brought this to everyone's attention.  They got caught red handed and had to make a change.  It really doesn't matter what time period the swap happens over, this coin was dead on arrival.  Its been exposed as nothing more than a pump for SIGT.  And once the devs get all of this sigt, what is stopping them from just selling it back on the exchange?  Too many red flags with this coin.  Important and basic information is missing from the bitcointalk announcement.  Missing from their website, missing from facebook missing from Twitter.  We are forced to get our info from the Signatum 2.0 thread, github or discord. 

And yes you are right, there is a link to the swap change in the 2ND post, not the first.  The ironic thing is that there is still no mention of the original swap.  Its like they are giving updates on non-existent information.

Yes, I'm sure the devs were forced to come up with this plan in just a few hours after your speculation. Roll Eyes It's not like it takes any time to prepare all the materials, tables, graphs, execution plan, bot info, etc.

FYI, the swapped Sigt coins will be burned. That's also mentioned in the swap information if you had bothered to read it. So no, the devs can't sell it back to exchange. And what original swap - this is the original swap! The only things that were mentioned is that there's going to be a swap, ratio is 4:1 and full details will be given later. People made assumptions about the swap (me included) that turned out to be incorrect.
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November 25, 2017, 09:43:05 PM
 #800

But yes, according to STRAKS Richlist, DeckerSU didnt got his bounty yet. Why so?
Today i'm received promised reward from squbs, all is ok. Seems we can trust strak's devs in their promises. They do a big work and I wish further success, growth and prosperity to this project.



That is good to hear, thanks again Decker for fixing that for the GPU miners and sharing  Wink
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