I'm surprised by all the people complaining it's not profitable to mine. The coin was just launched, what did you expect? Looking at the network hash rate it's obvious that there are way too many people mining Straks and trying to get instantly rich. It doesn't work that way. Over time the hash rate will go down and then mining will become profitable. But for now buying Sigt is the best way to get Straks. It's obvious Sigt is currently under valued: Sigt was at 1000 - 1200 sats before shit hit then fan.
Congrats to Straks team for the successful launch. It seems things are working much more smoothly than for example with Bitcoin Gold.
Hashrate has nothing to do with this. The reason its not profitable is because for some bizarre reason the devs are offering a coin swap with a completely unrelated shitcoin that trades for pennies. This coin isn't even in the realm of covering electricity costs. You could put in your info into whattomine, scroll to the very bottom, mine the coin in last place, sell it and buy sigt and you would make 100x more money.
FUDing hard, eh? Of course network has rate has everything to do with profitability. If Ethereum network hash rate was one tenth of what it is now, then Ethereum would be ten times more profitable to mine. Same applies for Straks.
Let's compare the numbers to Vertcoin since it uses the same algorithm, Lyra2V2. Vertcoin networks hash rate is around 2.5 TH/s. Straks peaked at 1 TH/s and now it's around 150 GH/s. Vertcoin block reward is 20 coins per minute while Straks has 10 coins per minute. One vertcoin costs around 50k sats at the moment. Doing the math, Straks should a have a value of 6000 sats to be on the same level as Vertcoin. However, Vertcoin is almost four years old while Straks is a few days old. What you're asking is completely unreasonable. Give the coin some time and it will flourish.