SAR Q&A with Xocel 04/16/2016

Thanks to Xocel for coming and chatting in http://slack.bittrex.com.  Below, you will see the transcript of the channel during the time Xocel was fielding questions.  I cut and paste this directly out of the chat client so I apologize for some of the weirdness in the content.  Nothing was removed, including my bad humor.

If you'd like to contact Xocel directly, his twitter handle is .

Thanks,

[email protected] 

 

----- Start of chat -----

 

bittrex-bill [4:53 PM] @channel, if you have questions about SAR, @xocel is now here.
@frankywill: how pissed will people be if i list clinton coin but not trump or bernie?
and why isn't there a cruz coin?
 
kopykat [4:55 PM] and why usa only, there are elections in many places of the world
lol
 
xocel [4:55 PM] alright guys, i just explained all this in the jumbucks slack, so feel free to check that if you are already there. otherwise im happy to anwser any questions, in the mean time i will explain things, starting from the beginning
 
bittrex-bill [4:55 PM] true.  where is the thatcher coin(edited)
 
upgradeadvice [4:55 PM] Clinton coin eh? Is it backed by bribes and illegal arms trade?
 
xocel [4:56 PM] as it requires some explanation
 
bittrex-bill [4:56 PM] @upgradeadvice: probably has shit security on its mail servers too
 
bittrex-richie [4:56 PM] why isn't there a cruz coin lol
super lulz
kasich coin!
 
bittrex-bill [4:56 PM] sorry for the presidential comedy show. go ahead xocel
 
xocel [4:57 PM] SARCoin, is run by Krypto Commerce International, our office is in seville, Spain, anyones welcome to come visit to check things out, I started consulting for them late last year, then became a fulltime employee, and now am a partner/co owner of the company.
 
dlow [4:58 PM] will you pay for my trip?
i'll make sure to write an endorsing review
 
 
xocel [5:02 PM] it is 100% proof of stake, SHA based (for minimal cpu consumption). it was 100% premined, supply of 250mil coins. One of the co owners, before founding KCI, promoted GCR for a breif time, before realising it was bullshit (was new to crypto). so the premine is split, 180mil is locked into the poolminers distribution model, distributed over the next 20years. the remaining 70mil, is set aside to allow poolminers member to do 1:1 swaps, GCR -> SAR, to get them out of GCR.(edited)
 
MinerFTW BOT [5:03 PM] supply of 250 mil and 280 mil locked and 70 set aside?
 
bittrex-bill [5:03 PM] that's interesting. so there could be an arbitrage opportunity for gcr
 
MinerFTW BOT [5:03 PM] thats odd math :)
 
xocel [5:03 PM] currently 68k coins get distributed daily via the poolminers platform
sorry, 180mil*(edited)
members buy packs of shares, with btc, these shares determine how much of the 68k they get each day. the 68k shrinks over time, much like btc rewards
the poolminers platform signups are on referal only, if you want to be there, let me know and i will arrange it. its has a fairly sweet referal/commission program. you get 70% commisons on pack sales from anyone you refered. paid to you within 24hours, in btc.
so now the cool stuff
the first service we have launched since i came on board. poolminerscard.com
visa debitcards you can top up with btc and now sar has a market, sarcoin also.
more coins to come soon, starting with one you should be able to guess :stuck_out_tongue:
how this works is you send btc/sar to the debitcard services wallet, at a time of your chosing you can load your debit card, it will use the rate at that time, to convert it to eur, usd or gbp depending on your card type
as they are visa, the gloabl infrstructure, already exists for merchants to accept, without doing a thing on their end
allowing you to spend crypto, anywhere (in a round about kinda way)
 
nextgencrypto [5:12 PM] thanks for coming by to explain.(edited)
 
xocel [5:12 PM] we are backing this with some serious money. sponsoring 5 golf tournaments and a bike race later this year
so expect to see the sarcoin logo popping up in random places
 
samsmith [5:13 PM] So your staking this huge premined?
 
xocel [5:14 PM] it was staking for a while to maintain the network, at present. 40mil of it is staking, this will shrink as more people stake. the stake of this premine to goes to the distrbution model. the remainder of it is now in cold wallets, backed up and stored in multiple banks
the sar i sent to trex earlier, i got from the distribution model, after purchasing share packs.
 
bittrex-bill [5:16 PM] are there restrictions on the debit cards to certain jurisdictions? or can I get a debit card as a us citizen
 
samsmith [5:16 PM] It's there already a few places with crypto -> debit?
https://cryptopay.me/bitcoin-debit-card
 
 
Cryptopay offers Bitcoin debit card to convert Bitcoin to cash, which you can withdraw anonymously from ATMs and spend anywhere VISA debit cards are accepted.
 

Is there something else yours offers?
 
MinerFTW BOT [5:18 PM] damn that a expensive 1 :P
 
xocel [5:18 PM] we are a registered company, using our real identities, with a  real office. we are operating 100% within the legal framework (which is a bureaucratic nightmare). viloating our agreement regarding the distribution model, would result in us being very fucked, most likely jail. So we have no incentive to fuck anyone, infact we have been offered large sums to sell sar direct to people, and turned them down, telling them to buy on the market once it opens.
yes, bitcoin -> debit does exist. our services are the first to support multiple crypto currencies
 
bittrex-bill [5:21 PM] fear of jail is very under appreciated by the crypto world but they should embrace it since it keeps legitimate businesses like bittrex from scamming them  :simple_smile:
 
xocel [5:21 PM] @bittrex-bill: currently we can not ship cards to the US, india, or various terrorist affiliated countries. We are sorting out the US currently, extra regulations etc
 
bittrex-bill [5:21 PM] spain considers US a terrorist country?
im joking. but that would be funny :simple_smile:
 
MinerFTW BOT [5:21 PM] doesn't the whole world do that? :P
 
xocel [5:21 PM] haha no, its just an odd list that makes me lol everytime i see it. US is due to extra regulations.
we will be using a US based debit card provider for US citizens
 
MinerFTW BOT [5:23 PM] visa pretty us based
 
xocel [5:24 PM] oh the US cards will be visa to. its hard to explain. the card providers are proxies, not visa themselves.
 
MinerFTW BOT [5:24 PM] goodluck as visa is blocking all crypto related holders for some time now
thats why e-coin swapped to mastercard also
 
xocel [5:25 PM] visa dont see the crypto
 
MinerFTW BOT [5:25 PM] no worries they will notice
 
eth2 BOT [5:26 PM] hmm tx fees of cryptopay quite high
 
xocel [5:26 PM] currently we are using the same provider as e-coin, except we have an extended api with additional functionality (which was not cheap). such as being able to move funds from one card to another. so if you have friends/family overseas, you can easily top up their cards from yours
with no bank
 
MinerFTW BOT [5:27 PM] e-coin use mastercard now becasue visa banned them
and with e-coin i just send funds to their depo addy in addressbook
or wirex now
 
eth2 BOT [5:32 PM] yea i use wirex too (formely e-coin)
unfortunately I can't install the app in canada
would be nice if someone was able to provide a .apk link to install it
 
MinerFTW BOT [5:32 PM] yeah im with them since start.
i can put it somewhere i think
 
eth2 BOT [5:32 PM] used quadrigacx (interac e-transfers) which was nice
 
MinerFTW BOT [5:32 PM] im on iphone
 
eth2 BOT [5:32 PM] cavirtex was nice before too
 
xocel [5:32 PM] visa has very little to do with it. if they got band they most likely violated the distributors terms and conditions
 
eth2 BOT [5:33 PM] yea iphone wont work. .apk for android
 
MinerFTW BOT [5:33 PM] yes visa has no invlvement of cryptocurrencies in policies now
 
xocel [5:33 PM] i have been working very closely with the distributor, they know exactly what we have made, and have assured us we wont have any problems, as long as we follow the rules
 
 
xocel [5:34 PM] e.g you can show images of custom branded cards, if you havent paid the license to actually have custom branded cards
cant*
and i know they did that, so... however we have said license
 
eth2 BOT [5:35 PM] MinerFTW you da man= =)
i checked the other day but none were available
 
MinerFTW BOT [5:35 PM] just did a wirex apk google :)
 
 
MinerFTW BOT [5:36 PM] they send normal stock empty cards
 
eth2 BOT [5:36 PM] I did the other day (3 weeks ago)
the app was just released
 
samsmith [5:36 PM] The stupidest argument against crypto I have ever saw
 
MinerFTW BOT [5:36 PM] aaah oke
i installed it right away here on iphone and reported bugs was fun
like balance on cards not showing up but they fixed 1 day latere
later
 
eth2 BOT [5:37 PM] brr it downloads a zip ;p
uhh lol, "Winzip" on android
 
MinerFTW BOT [5:37 PM] let me download and see im on mac so i wont be infected if something nnot right
 
bittrex-bill [5:38 PM] @xocel what is your twitter handle?
 
MinerFTW BOT [5:38 PM] donwloads here as apk
 
xocel [5:38 PM] @iquidus
 
MinerFTW BOT [5:39 PM] ooh the be maker :)
 
xocel [5:39 PM] that is i
 
MinerFTW BOT [5:39 PM] upgrade the mongo its doing my head in :P
please
:)
 
xocel [5:40 PM] i have many updates planned but strugling to find the time. trying to hire devs but hard to find
 
MinerFTW BOT [5:40 PM] eth2: Wirex_v1.0.0_apkpure.com.apk is what it downloaded here
 
xocel [5:40 PM] what is bothering you the most?
 
MinerFTW BOT [5:40 PM] 2.6.9 is no fun on a vps
 
xocel [5:40 PM] supports 3.x now
 
MinerFTW BOT [5:41 PM] mongo  keeps jamming and not connected
i think last i took came from @johny?
 
eth2 BOT [5:41 PM] MinerFTW yes same at the computer
however on my phone it grabs a .zip
 
MinerFTW BOT [5:41 PM] he did the extra exchanges in it
aah oke. no idea i sty far away from android for yrs now :)
 
eth2 BOT [5:42 PM] i love it =)
linux based
 
MinerFTW BOT [5:42 PM] ios also :P
windows 11 will be also i think with current bash in 10 :P
but mongo bothers me most :) never was fan of mongo
and a addy claim would be a damn great feature :)
have it on my own explorer also but that thing rebalance all the time. pretty annoying :)
 
xocel [5:45 PM] users claiming addys or set by you running the explorer? (the latter already exists) jumbucks whois + explorer integration is my plan to address user claimed addys
 
MinerFTW BOT [5:45 PM] and the 1 i took most is from rudy btw just looked it up
yes i can set addies manual  know but letting users do would be great fun
like on my explorer on ledger page they can sign their own addy and it shows on the page then
 
xocel [5:45 PM] cool. i will bump this up the priority list :simple_smile:
who is already has all this functionality so in the meantime i will move it to explorer also, just for addys
 
nomak [5:46 PM] Good morning and hello all :blush:
 
xocel [5:47 PM] anyway, any more questions about SAR?
 
MinerFTW BOT [5:47 PM] mine is rebalancing again so can't show what i mean :)
 
 
MinerFTW BOT [5:47 PM] only reason we made this 1 is because i can run it on my shared hosting company with php and mysql :)
 
renata [5:47 PM] joined #general
 
bittrex-richie [5:48 PM] xocel: wtf does SAR stand for?
i coudln't even come up with a good pun for it
and i hate launching coins without a good pun
 
MinerFTW BOT [5:48 PM] Serious Attractive Richie maybe :P
 
fuzzbawls [5:49 PM] dunno about “good”, but the plural of SAR could be used in a tweet “Get your SARs now!"
 
 
xocel [5:49 PM] @bittrex-richie:  ah nothing fancey. Sasa Asif Ruben, after the 3 owners of KCI before i came onbaord
 
jasemoney-thesherpa [5:49 PM] :stuck_out_tongue:
 
bittrex-richie [5:49 PM] thats so boring.
 
jasemoney-thesherpa [5:49 PM] finally some info :simple_smile:
 
 
MinerFTW BOT [5:50 PM] marvels agents of shield logo
but smaller
 
xocel [5:51 PM] we have been focusing on the latin world to the most part until now. the poolminers platform has 1.2k users. its 3am here atm, but email sent informing them of market opening, so expect more market activity in the coming days
 
MinerFTW BOT [5:52 PM] 3 am here also day just starting :)
 
xocel [5:52 PM] where are you from?
 
 
xocel [5:52 PM] ah, cool
will be over there in a couple months
 
MinerFTW BOT [5:53 PM] this country sucks though
 
 
xocel [5:53 PM] doing talks in Italy and Romania next, then elsewhere in europe
 
MinerFTW BOT [5:55 PM] italy better
 
xocel [5:56 PM] yeah looking forward to it, never been. but in spain currently and i eat italian most days
owners of KCI are fairly diverse. Sasa from italy, Ruben from span, Asif from pakistan, and me from NZ
 
bittrex-bill [5:57 PM] @xocel we better see 1.2k new sign ups on bittrex
 
 
bittrex-bill [5:58 PM] make sure our logo is gigantic everywhere you go :simple_smile:
 
bittrex-richie [5:58 PM] didn't curry just get hurt?
 
xocel [5:59 PM] *cough*t-shirt*cough*
and yes, of course we will also be promoting the exchange the market is on
 
bittrex-richie [5:59 PM] i havent' even gotten my tshirt
leah swears you took them back bill
 
 
bittrex-richie [6:00 PM] he brought 2 over a couple months ago during a hawks game
and they have disappeared since
 
xocel [6:02 PM] i cant make any promises regarding existing users, many will trex, but a lot are fresh to crypto, this was the reason for this distribution model, lowering the entry bar for those that have no experience
and if any of you guys are ever over these ways, feel free to come to the office and check us out. we have people coming from many countries to meet, and talk crypto. for non english speakers its quite difficult to get involved, so they like that we have phsyical office they can come talk face to face, and the team speak a fairly large numbers of languages so got most bases covered
 
renata [6:05 PM] how about sar?
 
xocel [6:06 PM] ive been talking about it quite a bit, scroll up :stuck_out_tongue_winking_eye: or feel free to ask questions. im happy to answer
 
renata [6:06 PM] im has not found where mining sar
 
kevin [6:07 PM] @xocel: luke can you share any link for SAR. Didnt know about it till @bittrex-bill marked channel about your presence
 
thebear [6:07 PM] what about this 250 million premine?
 
 
pacino [6:10 PM] so looks like SAR won the voting contest?
I didn't see it on the poll.......
 
xocel [6:10 PM] scroll up, its to long to retype :stuck_out_tongue:
 
MinerFTW BOT [6:11 PM] was not on vote was long ago add
 
celendion [6:11 PM] admin here?
 
kevin [6:11 PM] Im trying :)
 
thebear [6:11 PM] ok seen about the premine....
 
celendion [6:12 PM] how many sup?
 
xocel [6:13 PM] sorry my browser bugged out for a min there
 
thebear [6:13 PM] you guys need to sort out the english translations....i don't speak spanish
 
xocel [6:14 PM] https://bittrex.slack.com/archives/general/p1460851348000269
 
it is 100% proof of stake, SHA based (for minimal cpu consumption). it was 100% premined, supply of 250mil coins. One of the co owners, before founding KCI, promoted GCR for a breif time, before realising it was bullshit (was new to crypto). so the premine is split, 180mil is locked into the poolminers distribution model, distributed over the next 20years. the remaining 70mil, is set aside to allow poolminers member to do 1:1 swaps, GCR -> SAR, to get them out of GCR.
 

https://bittrex.slack.com/archives/general/p1460851410000273
 
currently 68k coins get distributed daily via the poolminers platform
 

 
celendion [6:15 PM] prices still unstable
 
thebear [6:15 PM] SAR was  on even featured on the voting poll...LOL
By the way, if the world gets hit by the SARS virus again, you guys need to change the nme....
 
jasemoney-thesherpa [6:17 PM] @xocel can we view the daily payouts?
 
xocel [6:17 PM] yes until now we have be mainly focusing on the latin world, as to the most part they have been very neglected from crypto. no one speaks english here. and crypto is to the most part, all english or chinese
 
pacino [6:18 PM] added and commented on a Plain Text snippet
bittrex-bill Dec 25th, 2015
@channel T-Shirts coming second week of January
 
that's very nice cause a bunch of people lost theirs in trex
 

 
xocel [6:18 PM] the poolminerscard site supports, english, italian, portugese, romanian and spanish currently. more will be supported in future also.
and yes, we are working on translations for everything
@jasemoney-thesherpa: they are on chain. give me a few mins i will find a tx
 
 
thebear [6:20 PM] "more coins to come soon, starting with one you should be able to guess"
am stupid....which coin are you talking about here?
 
jasemoney-thesherpa [6:21 PM] @xocel is the "poolminers" site for people to pool mine like a p2pool or just a name used for the site where your selling shares of the 68k split daily amongst bidders(edited)
twitter BOT [6:22 PM]
 
Whoa... almost ran out of $STEEM today, but we powered through and got it there @BittrexExchange
 
2

 
xocel [6:22 PM] its just the name of the distribution site. this was decided before i was involved, i would have gone for something different personally
 
@xocel how long will GCR >> SAR swap be available
 
xocel [6:23 PM] until the set aside coins are swapped.
 
jasemoney-thesherpa [6:24 PM] also you said its 1 <-> 1 swap but theres 100mil GCR will GCR be abandoned with 20million unswappable?
and anyone who knows GCR is it already effectively "dead" ?
(well maybe not dead, its 500k marketcap)
 
xocel [6:26 PM] GCR was not one of our projects, so we dont feel we should be fully responsible for it being shit. but one of the KCI owners was partially involved in promoting it, before he realsed it was bullshit. so we feel we should atleast make up for any people that purchased due to his promotions, so they arnt left with a GCR bag
 
how many rounds of 68,000 sar daily bids have happened
week, month, etc?
 
xocel [6:27 PM] with GCR, a fuck tonne of coins got stolen
 
jasemoney-thesherpa [6:27 PM] is the GCR theif address known? will the theif be able to get SAR coins?
 
xocel [6:28 PM] you need to be a member to do the swaps. and that requires some ID verification.
 
jasemoney-thesherpa [6:29 PM] ok so with id verification are you on the lookout for tainted coins?
there are bold idiots
 
xocel [6:29 PM] the anti money laundering/terrorist funding laws are a bit of a cunt, but we have to abide by them
 
jasemoney-thesherpa [6:30 PM] right but theifing GCR and turnign it into SAR isnt exactly a terrorism thing especially if poolminers isnt looking out for the addresses that commited the thieving
 
xocel [6:30 PM] dw we are monitoring them
 
jasemoney-thesherpa [6:30 PM] either way. last question gotes back to how many days/ weeks have you had payouts.
like how many SAR should we be expecting to be liquid at this time
 
xocel [6:31 PM] a little over 3months
 
jasemoney-thesherpa [6:31 PM] ok so 90*68k= 6 million ish
 
 
jasemoney-thesherpa [6:31 PM] and 1.2k members on poolminers
what would you say was/is an average daily total bids poolminers gets.
do you think 50k sat is a fair price to launch on trex or is poolminers arbing right now
 
bittrex-bill [6:32 PM] earlier members of poolminers got larger shares
 
jasemoney-thesherpa [6:32 PM] ie. what was yesterdays pice per SAR(edited)
 
xocel [6:32 PM] same shares, but less diluted as less memebers/shares
so they got larger daily payouts per share
 
jasemoney-thesherpa [6:33 PM] sure, i follow BCR, it does daily on chain bidding
 
xocel [6:33 PM] currently, it works out at 0.23usd per coin via the poolminers platform (as of earlier today)
 
 
xocel [6:33 PM] but obviosuly that changes based on shares
 
im guessing you wouldnt be open to just have bittrex  (help)  swap GCR for SAR(edited)
 
xocel [6:36 PM] we sort of want to restrict to swaps to the audience that Sasas promotions hit. our audiance thus far are all new to crypto, sar has been many of their first introduction. the packs prices are listed in eur, but paid in btc. we did this so the users have to atleast know how to use btc, before purchasing any packs.
 
jasemoney-thesherpa [6:37 PM] ok so its not advised for me to go and buy the GCR market up to 50k satoshi(edited)
 
kushed [6:37 PM] @bittex :+1:  for Steem
 
xocel [6:40 PM] anyway guys, i need to get some sleep. Any with questions tag me and i will answer when i awake :simple_smile:
 
MinerFTW BOT [6:40 PM] self eSTEEM? or STEAM
:P
 
nextgencrypto [6:40 PM] Lots of great stuff coming from the STEEM team.  Definitely a good add.
 
jasemoney-thesherpa [6:40 PM] thanks for your time xocel
1

 
bittrex-bill [6:42 PM] thanks @xocel. im gonna cut and paste the chat to save as an article on the zendesk site
if people like this sort of thing, i'll ask other devs to come and talk about their coins when we launch them
1

 
xocel [6:42 PM] cool :simple_smile:
 
jasemoney-thesherpa [6:43 PM] its good to have direct contact @bittrex-bill
im glad i was able to ask some questions. i dont frequent here to often
 
 
bittrex-bill [6:43 PM] @jasemoney-thesherpa: you should. devs pop in here all of the time
 
jasemoney-thesherpa [6:44 PM] thats a good thing
though to be honest i only have room in my head to follow a handful of coins at once.
Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request