[ANN][SGL] Sigil - Decentralized, 0% Fee Crowdfunding

[the__searcher]

How many coins are needed for staking to begin ?

[1714877960]

1714877960

[kkjack789]

Recently, very lively here, it seems that some misunderstanding, what is the premier wallet addresses?

[bewmint]

Taking a look at the top 100 list from the explorer. What's up with all the 10k SGL addresses over there?  

As of right now we're holding the premine in seperate addresses in 10k increments, as you can see

Just trying to understand why are you doing this? TOP100 wallets are now masked by the premine addresses.
Thanks.

Also waiting for an explanation regarding the 10k premined wallet addresses from TOP100 list.
Thanks.

1) DEV, explain TOP 100 wallets
2) seems there is no need in staking due TOP 100 wallets are staking ? Why you did such a way ? I am waiting for reward with 350 coins which are mature already and no luck

Lol when all the wallets staking ! We can forget to do the same ... We will never find a block ...

1) DEV, explain TOP 100 wallets
2) seems there is no need in staking due TOP 100 wallets are staking ? Why you did such a way ? I am waiting for reward with 350 coins which are mature already and no luck

Hey guys, sorry for the wait, I was talking it over with the team and formulating our answer. When we first developed the coin, we came into it with the notion that we would be able to stake the premine--that we'd be able to get some form of passive income while working on the coin in order to pay for daily expenses--i.e. servers, exchanges, etc. However, we didn't completely take into account the effect that we'd have on the community as a whole in regards to them staking as well. I'll propose to the other members of the team that we stop staking until the network has developed more, would that be suitable?

Looool really??? You stake with premined coins ? What the .... Whats wrong with you guys?
How stupide is this ?
How you have the knowhow to create a coin, when you make so a big bullshit ? You have wrong calculated Lol lol lol !!! Really really bullshit ... You really stake with 99% oft all mined coins ?? Haha great really great ... Go to hell !!!

I apologize personally on the behalf of the team. We won't make the same mistake again.

Right now, it's time to find some exchange. Go to the moon

[zajiczech]

I think if you would like to gain some credit back (if possible), you should make an airdrop of the staked coins to the users. Take it as marketing costs. That's my 2 satoshis...

[Usebtc]

I think if you would like to gain some credit back (if possible), you should make an airdrop of the staked coins to the users. Take it as marketing costs. That's my 2 satoshis...

Nice idea, give your premined staked coins to the community... So all its fine !

[Crypto1989]

How many coins for staking.

[rossjamie]

Is the website just down Or just me?

I want to look to their site and plan

[Crypitol]

I'd say these guys are just whiny saps, you guys are completely funding the initial developments out of pocket without an ICO, these guys are upset about you staking, when most companies release an ICO with 4 rounds selling 50 million coins each round. And then halting developments for an entire quarter while they party. I'd say your plan to stake the premine is logical and reasonable to support developmental cost. And earn a clearly needed salary. I could see the concern if you guys staking, made it so no one else could stake, but I'm earning about 125 coins a day no problem. I'd say continue staking if I were you guys.

[zajiczech]

I'd say these guys are just whiny saps, you guys are completely funding the initial developments out of pocket without an ICO, these guys are upset about you staking, when most companies release an ICO with 4 rounds selling 50 million coins each round. And then halting developments for an entire quarter while they party. I'd say your plan to stake the premine is logical and reasonable to support developmental cost. And earn a clearly needed salary. I could see the concern if you guys staking, made it so no one else could stake, but I'm earning about 125 coins a day no problem. I'd say continue staking if I were you guys.

Of course, we are greedy and don't want the devs to make any money on this... The premine is nothing that could make them money  

Have you seen the first page?
    40 % (1,000,000 SGL)    ------------->      Marketing
    20 % (500,000 SGL)       ------------->      Developers / Founders
    20 % (500,000 SGL)       ------------->      Bounty Program
    10 % (250,000 SGL)       ------------->      Research / Development
    10 % (250,000 SGL)       ------------->      Legal

[Crypitol]

I'd say these guys are just whiny saps, you guys are completely funding the initial developments out of pocket without an ICO, these guys are upset about you staking, when most companies release an ICO with 4 rounds selling 50 million coins each round. And then halting developments for an entire quarter while they party. I'd say your plan to stake the premine is logical and reasonable to support developmental cost. And earn a clearly needed salary. I could see the concern if you guys staking, made it so no one else could stake, but I'm earning about 125 coins a day no problem. I'd say continue staking if I were you guys.

Of course, we are greedy and don't want the devs to make any money on this... The premine is nothing that could make them money  

Have you seen the first page?
    40 % (1,000,000 SGL)    ------------->      Marketing
    20 % (500,000 SGL)       ------------->      Developers / Founders
    20 % (500,000 SGL)       ------------->      Bounty Program
    10 % (250,000 SGL)       ------------->      Research / Development
    10 % (250,000 SGL)       ------------->      Legal

You think 500k SGL is a lot? Let's say it hit .25 by the end of the year, that's 125k in USD, divided among I'd assume at least 5 people. So that's ~25k a year. Virtually poverty, when they've completely fronted ALL development cost. AND the service they plan to provide is FREE.

[raskad]

Use the PREMINE and PROCEEDS FROM STAKING to pay for a LISTING on CRYPTOPIA!  

[zajiczech]

Use the PREMINE and PROCEEDS FROM STAKING to pay for a LISTING on CRYPTOPIA!  

That's a good idea, pay for an exchange.

[zajiczech]

I'd say these guys are just whiny saps, you guys are completely funding the initial developments out of pocket without an ICO, these guys are upset about you staking, when most companies release an ICO with 4 rounds selling 50 million coins each round. And then halting developments for an entire quarter while they party. I'd say your plan to stake the premine is logical and reasonable to support developmental cost. And earn a clearly needed salary. I could see the concern if you guys staking, made it so no one else could stake, but I'm earning about 125 coins a day no problem. I'd say continue staking if I were you guys.

Of course, we are greedy and don't want the devs to make any money on this... The premine is nothing that could make them money  

Have you seen the first page?
    40 % (1,000,000 SGL)    ------------->      Marketing
    20 % (500,000 SGL)       ------------->      Developers / Founders
    20 % (500,000 SGL)       ------------->      Bounty Program
    10 % (250,000 SGL)       ------------->      Research / Development
    10 % (250,000 SGL)       ------------->      Legal

You think 500k SGL is a lot? Let's say it hit .25 by the end of the year, that's 125k in USD, divided among I'd assume at least 5 people. So that's ~25k a year. Virtually poverty, when they've completely fronted ALL development cost. AND the service they plan to provide is FREE.

Noone forced them to make those calculations, it was their decision and I suppose they know what they are doing. And it's not 500, but 750, i'd count Research/Development as well.

[Sigil-Developer]

I'd say these guys are just whiny saps, you guys are completely funding the initial developments out of pocket without an ICO, these guys are upset about you staking, when most companies release an ICO with 4 rounds selling 50 million coins each round. And then halting developments for an entire quarter while they party. I'd say your plan to stake the premine is logical and reasonable to support developmental cost. And earn a clearly needed salary. I could see the concern if you guys staking, made it so no one else could stake, but I'm earning about 125 coins a day no problem. I'd say continue staking if I were you guys.

Of course, we are greedy and don't want the devs to make any money on this... The premine is nothing that could make them money  

Have you seen the first page?
    40 % (1,000,000 SGL)    ------------->      Marketing
    20 % (500,000 SGL)       ------------->      Developers / Founders
    20 % (500,000 SGL)       ------------->      Bounty Program
    10 % (250,000 SGL)       ------------->      Research / Development
    10 % (250,000 SGL)       ------------->      Legal

You think 500k SGL is a lot? Let's say it hit .25 by the end of the year, that's 125k in USD, divided among I'd assume at least 5 people. So that's ~25k a year. Virtually poverty, when they've completely fronted ALL development cost. AND the service they plan to provide is FREE.

Noone forced them to make those calculations, it was their decision and I suppose they know what they are doing. And it's not 500, but 750, i'd count Research/Development as well.

We made the decision not to to run an ICO because we believe in the future of the coin. We figured the premine was necessary because it allows us to retain some of the coin for future work and development, however we did not expect this backlash when we mentioned that we were staking, because as @Crypitol mentioned, we are fronting all the costs and hoping to build this coin from the ground up. The overhead will be actually even more significant than other coins--we'll be running the crowdfunding site without taking any fees.

Still though, we understand that it looks bad for devs to be staking this early in the game, and as a result we'll halt these efforts while we build up the network and allow for the coin to grow organically.

[mpchua]

6721   a11a37d0b9d67d3a86670df96336469b03f48ef26a9b25fa9fc6c596ce42d81b   1   25.00000000   Thu, 11 Jan 2018 15:46:41 GMT

Coin Supply (SGL) 2667540

I assume the full 6721 block belong to miner which is 6721x25=168025 coins

2667540-168025=2499515

2499515/2667540x100=93.7%

Means 6722 blocks onward developer control 93.7% of staked coin ?

Amazing...

[Sigil-Developer]

6721   a11a37d0b9d67d3a86670df96336469b03f48ef26a9b25fa9fc6c596ce42d81b   1   25.00000000   Thu, 11 Jan 2018 15:46:41 GMT

Coin Supply (SGL) 2667540

I assume the full 6721 block belong to miner which is 6721x25=168025 coins

2667540-168025=2499515

2499515/2667540x100=93.7%

Means 6722 blocks onward developer control 93.7% of staked coin ?

Amazing...

To be fair we're haven't been staking most of them and are giving away 500,000 coins. Also we're being asked to front the costs for an exchange and crowdfunding site with no fees whatsoever or ICO, instead the team raising the funds on their own.

[Cashwave]

Great project idea. I understand that the team wants to be anonymous for now but a little pry info about who is/are behind this wonderful project would be ok.

[yaoye0o]

Great project idea. I understand that the team wants to be anonymous for now but a little pry info about who is/are behind this wonderful project would be ok.

that's why anonymous  ,do you agree ?

[ocminer]

@Sigil-Developer
yesterday i tried the first time to send some mined coins from pool to my sigil wallet (Linux/Ubuntu 17.04). Wallet is stable
and it seems that it synced - last Block was the last mined block.
But after hours my coins didn't arrive. Are there any problems atm at transfer? Which time does it normally take?
When everything synced my coins should be on the wallet - why is balance still Zero? Thanks for helping.

Which pool did you mine on? It's not a blockchain problem, but a pool problem.

My wallet is also starting to crash. Is this forked from TZC ? That coin had a similar issue

Yep, it's a TZC fork. I did notice the issue when I was looking on some older threads but thought I had fixed the issue, being that it was thought to be through staking throughput and its use of resources. Weird though that I can't get the issue to be reproduced on any of my compiled wallets, either on Windows, Mac, or Linux.

If your wallet keeps crashing, try and disable staking by clicking "Tools"/"Disable PoS Mining". I'll look at it further and try to reproduce the error.

Staking is disabled already, it still crashes. Only "fix" is to re-import the privkey into a fresh wallet and after a certain amount of time, probably the min staking time, it crashes again.. So you need to keep doing this over and over again.. That was the reason I delisted TZC some time ago as AFAIK it isn't fixed until today there

Interesting. Okay, next crash could you send me your debug.log file? I'll try to get to the bottom of this.

No error in the debug log and nothing on the console either when in crashed.. nothing at all - exactly the same like with TZC

[Sigil-Developer]

My wallet is also starting to crash. Is this forked from TZC ? That coin had a similar issue

Yep, it's a TZC fork. I did notice the issue when I was looking on some older threads but thought I had fixed the issue, being that it was thought to be through staking throughput and its use of resources. Weird though that I can't get the issue to be reproduced on any of my compiled wallets, either on Windows, Mac, or Linux.

If your wallet keeps crashing, try and disable staking by clicking "Tools"/"Disable PoS Mining". I'll look at it further and try to reproduce the error.

Staking is disabled already, it still crashes. Only "fix" is to re-import the privkey into a fresh wallet and after a certain amount of time, probably the min staking time, it crashes again.. So you need to keep doing this over and over again.. That was the reason I delisted TZC some time ago as AFAIK it isn't fixed until today there

Interesting. Okay, next crash could you send me your debug.log file? I'll try to get to the bottom of this.

No error in the debug log and nothing on the console either when in crashed.. nothing at all - exactly the same like with TZC

Really sorry for any inconvenience. Digging further into this, it seems that the blockchain data can sometimes corrupt for some reason on the Windows OS due to PoS blocks being processed incorrectly. Could you try a rescan of the network through backing up your wallet.dat and deleting all other items (besides wallet.dat) in your data folder and then reopening the wallet? You're right, that's the only way to fix this at the moment. I'll try to find the root cause of this further.