Post
Topic
Board Announcements (Altcoins)
Re: [ANN] STRAKS - Decentralised, Open Source, Community Driven Digital Currency
by
Chromexnet
on 25/11/2017, 21:58:00 UTC
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.

How is your suggestion any better than what Straks is now? Basically your suggestion is to switch to a technically worse algo, remove the burn which means the swap can't be handled in a fair way, and not give any incentive for the devs to do any work in the future. How does that help or solve anything?

You're suggesting that nobody is interested in mining Straks and that the project is doomed. Currently the network hash rate for Straks is 120 GH/s which is 40 GH/s more on average than it was yesterday. So clearly there's plenty of support for Straks. It seems people are willing to mine a coin without even knowing it's value.