Hey guys, there is a Storj coin already? Why is there an ICO again? Will I lose my current Storj or how can I convert them?
The ICO is for unsold tokens from the 1st token sale. However they will be sold as the new ethereum-based token (STORJ).
You will be able to convert your SJCX to STORJ with an easy to use Web App sometime after the sale according to the team.
Okay, thank you. So the switch rate will be 1:1?
Do the coins on Poloniex get converted automatically?
Yes swap will be 1:1 total supply once over will be exactly 500 million as originally however for each coin sold in the sale there will 1 coin burned too so total supply should decrease after the sale.
I heard the team is also talking to exchanges to make the transfer happen on them directly but this may or may not happen (it's more in the hands of exchanges). I suggest following the project for news and updates to keep yourself up to date.
There is something I can't understand with this crowdfunding... As the current price of one SJCX is approx. $0.6 right now, why wouldn't all the SJCX token holders sell their SJCX now and purchase the new STORJ during the current ICO? We would definitely make a free benefit of approx. 20%?
I think this coin is skewed market scheme. 30M ico (for what? new product?) and converting the old coin which was half the price before the announcement of the new ico. I hope they return the investors "gold" and fail this weird scheme. 30 days to go. Hold on. Those who heard about the new ico knew the price would rise and sat and wait while the price reach new extremes. New ico announcement should have been a secret and keep the price fair, but hey...
I would say that SJCX token holders have a high incentive to sell their tokens now and participate in the IPO for two reasons.
- If the IPO fails, they will get reimbursed in ETH/BTC and we will not have to suffer the consequences of the failed IPO (a drop of value of SJCX)
- However, they would highly benefit from the rise of the price of the new STORJ if the IPO goes through...
Therefore, selling the SJCX (as long as the price of the SJCX is still higher than $0.5) and invest them in the new IPO seems to be the best decision to take (in my opinion of course).