Topic: [ANN] Syscoin - Business on the Blockchain - LAUNCHED! - page 289. (Read 490241 times)

show me your evidence.

IPO scam coin, cant believe yall are paying this dev for promises, you know what they do with promises

thanks to all these shit ipo coins lately people aint buying the '' normal coins''  no more without IPO.

Well I think you have been corrected about the whole turing thing and ethereum already. Though if you are looking for a good example of smart contracts - personally I think ultra-coin's implementation is a pretty good example (note - its not an altcoin rather service name): http://ultra-coin.com/

As for the bids/asks, its near to your example. What I really mean is something like NXT's asset exchange. In a certificate (or asset, take your pick) market true price discovery can happen only if there is a continuous market. Now when you think in terms of car, yeah maybe it doesn't make sense. Think in another term, say I want to issue certificate for a pass through of Asciminer. Do you think it is better if I put a fixed price on it? Rather wouldn't it work better if there was a two way market?
Edit: Re-read OP. If you are targeting an amazon like marketplace where people can sell off their goods, then you dont need a two way market. The current implementation works. But then I wouldn't really call it a "financial infrastructure" rather just a "service based infrastructure"

(Snipped some of the quote just to cut back on length)

I may have incorrectly referenced the Syscoin certificates feature as a "smart contract" earlier on before I came to understand that "smart contracts" as commonly understood are "turing-complete" as planned to be implemented by Ethereum. After that realization I clarified this is not analogous to the certificates services within Syscoin- you're right they are more like smart properties in that they can be verifiably linked to an owner, and come from an issuer, thei content can be dynamic and is dictated by the issuer and their ownership history can be tracked and via the blockchain. I do apologize for the lack of clarity on that point.

Regarding bids/asks can you elaborate on that a bit? I can say at least for launch everything is fixed-price in terms of the Syscoin market service in that the seller dictates the cost they want to sell their item for (and the quantity they have to sell)- are you suggesting that even if a seller puts something on offer for 100sys that a buyer should have the ability to bid 80sys and if the seller is agreeable to that lower price they have the option of accepting the bid even though it is lower than their offer price? Just trying to better understand your suggestion, always looking for good ideas to help and improve Syscoin - thanks

Syscoin looks interesting, i'll throw in some BTC at Moolah

Please lower the minimum to enter! What if we only have 0.05? We cant get in on it because of this?

I did that.  I think you are sent the wallet.dat for the total that you send.  So you can send more if you wish.

Smart contracts do not have to be Turing complete. In fact I think it is ethereum's scripting language which is Turing complete, not any of the particular contracts which you might create with it. A smart contract just needs to perform some kind of logical operation to determine whether conditions have been met and then carry out some action accordingly, rather than simply storing data as a smart property or certificate does.

Let me quote your first line from the post I quoted - " Syscoin doesn't implement "smart contracts" as defined by Ethereum aka a turing complete smart contract solution (er.. vision atm)." So you were the ones calling the certificate (or rather smart properties) as smart contracts. I have been the one asking how can you call your implementation "smart contracts" when they aren't. You can go through my older posts on this thread to actually see this.

And I guess you mixed this up with something else. We were never talking about fees - its not something I am really concerned about. Though I will still say market (bids/offers) is again not something which should be missed in the initial version. Thats my opinion.

The trouble with this is it requires changes to announcements and systems that are already in place and the entire team is very focused on the launch. Also we'd need to coordinate with Moolah to make those changes which would take more time. Some people might complain that if we'd done that earlier they'd have purchased differently introducing more issues to deal with...

Try pooling resources with another buyer? 0.1btc is roughly $60usd which isn't a huge barrier to entry imo  


I'm not going to lie as a crypto dev interested in bleeding edge crypto I am very intruiged by Ethereum. I have not invested any BTC into their presale... I am very uncomfortable with their presale terms (no refunds, even if they don't deliver anything  ). Still a cool project to watch!

:reaches back to page 24:

I'm going to take a crack at this but I'm also going to have @coderboo reply to this as well. Syscoin doesn't implement "smart contracts" as defined by Ethereum aka a turing complete smart contract solution (er.. vision atm). Looking at this doc on NXT asset exchange Syscoin certificates do not behave like assets either, at least not as defined by that page. To be honest I don't fully understand NXT assets but Syscoin certificates I can explain.

First you register as a cert issuer on the Syscoin blockchain and this costs a set fee that isn't pennies. This enables you to issue certs, and these certs can be linked back to your wallet address through the blockchain to be provably issued by you to the reciever- even if transferred (transfers are all logged as well). So you have a cert, lets say its the digital title for a car (you're a car dealership, I'm buying a car from you). You issue the certificate to my Syscoin address via the blockchain and it proves I purchased the car from you and I own it. If in a year I want to transfer the certificate to a new owner I can do that myself- but it can always be tracked down via the blockchain to see who the current owner is (if its not encrypted).

Certificates do not inherently cost anything outside of Syscoin service fees related to the various commands. I could create an offer using the Syscoin marketplace service to sell the car and after selling transfer the cert to the new owner. The certificate system doesn't have concepts that NXT asset exchange has- there aren't bids and asks, there is no interest or expiry.

In order to prevent abuse/issuing of garbage certificates the fees for this service will be set appropriately to discourage such activity. Of course we can't ban it or anything as this is all decentralized. I'm sure there will be some level of garbage just from people wanting to try out the features not even knowing what they do and that's fine- but it will cost them, and eventually they won't have enough Syscoin to continue.

We'll be working to outline a number of use cases for the various services to people understand them better and don't waste Syscoin unintentionally

Please lower the minimum to enter! What if we only have 0.05? We cant get in on it because of this?

Now that sounds like some of the btc in Syscoin is going towards ethereum too