Topic: [ANN] Syscoin - Business on the Blockchain - LAUNCHED! - page 300. (Read 490241 times)

haha good luck with that if devs deliver whats described, you can think 10x the IPO price to start with. Have you heard of darknet markets?

Main question: why would I buy now, if I can buy cheper on the exchange after the launch?

Will get back to you a little later with an answer to this, busy busy busy

You need to keep old blockchain data in case people transfer wallets etc.. I dont think you would ever want to clear the slate. On Android with spv you only download data you care about anyway. I believe a few ofthe features will be available at launch including escrow.. It is in active development phase.

I can answer some of those till a person comes by to answer the rest.

Don't think you want to wipe old blockchain data. Most people won't be needing to download everything though. What most people download will be nice and small.

I'm not sure what the wallet is like right now. Just know this isn't a 30 day project where they just stop and say this is the best it'll be. It'll be worked on for years as long as people use this coin.

An anon decentralized market place / exchange would be a nice option to add and will get more people to use the coin I would think. Adding a TOR option. Not sure if that has been talked about. Would be interested to know what the team thoughts are.

Escrow system is a work in progress. ETA sounds like it'll be after the launch. Just know it's being actively worked on.

With Syscoin you are buying into what is outlined in the first post. Anything other than that is extra and will help the price grow and get people to hold. People are apparently willing to throw bitcoins at anything (darkcash?? and all the other coins). There shouldn't be a problem getting the presale sold out.

More videos and other things coming out over the weeks. Just sit back and check this thread everyday.

What about longterm... would it be technically possible to implement some system that wipes old blockchain data, say once a year. This way keeping the wallet nice and small?


Ok so you have already developed a thin wallet? Is there going to be focus on design factors wth a sleek wallet?

And final question, is the marketplace completely decentralized?  And is it possible to trace funds to ip? Or is there some kind of anonymity? Sorry for all the questions im just checking what my 15btc will get me.


EDIT: also, wth the trading if title deeds or certs, whats stopping people from just uploading a random word document and saying it's the certificate? The middle man is there to check if the document is legit, thats why we have brokers. Im sorry if some of these questions are already answered.

And do we have an ETA on the escrow system?

Thanks guys doing a good job. Would be good to see some more progress tho, it seems were seeing a load of marketing and flashy design but no real code or sample wallet.

Cheers
suchnekky

Because its already been answered I asked it a while back.

But the idea is that fees are paid if you use more features and not everyone will download all data.. you will have supernodes which will download and host all data and get paid fees for it. Thin clients may not need to download them if they dont need to use the service.

Also the goal is to keep growth under the growth of storage efficiency that we are seeing.. any growth under it will be acceptable long term kind of like how 1 gig was a big deal 5 yrs ago but normal now.

ok so no one has really answered my question, wont the blockchain be absolutely massive with all these new features. even if everyone can upload max 256kb

Very astute and accurate observations. I'd like to clarify the italicized portion. We are definitely launching on August16 I just want to make sure that's clear.

I think (if I understand correctly) the question is... if we sell out sooner, will we launch sooner? The answer to that is - it really depends on how soon we sell out. If it happens in the next day, we aren't ready to launch yet. If it happens in 2 weeks... we'll be in a very different place than and thusly the answer may be different! 


On another note here's some obfuscated proof we're working on escrow (which I'm really excited about!)- obfuscated so other's don't steal our designs!

Ok first let me address some questions I had to ask people to wait on (back @p75)


Talked with the team about this and its a hard question to answer. To be honest with you we don't want to make any technical comparisons between Ethereum and Syscoin. Ethereum is a completely different product, and isn’t out yet making it impossible to make real, accurate technical comparisons between the two. What we can say is that Ethereum is a product rewritten from the ground-up, it shares zero similarities with Bitcoin "1.0" as some people call it and runs on a completely different protocol. This is somewhat controversial because many think some of the goals they are attempting are either not feasible or are based on technologies/concepts algorithms that are immature, not widely used, or not well vetted. Huge amount of unknowns. This is not a knock again Ether, just the facts.

By contrast Syscoin is technically feature complete. It shares a large portion of its codebase with "Bitcoin 1.0" but brings in major pieces of Litecoin and Namecoin code. Using the potential discovered at the intersection of these 3 codebases, Syscoin builds on that foundation and provides new services in the form of the features being delivered at launch. There are benefits to not trying to "rewrite" things from the ground up. The codebases Syscoin descends from are well-vetted and the protocols it uses are standard in the altcoin world meaning the barriers to adoption are small/nonexistent. Additionally this means that out of the gate Syscoin will be able to leverage the huge developer community around the three codebases it descends from- if any issues are discovered in those codebases, the fixes can be easily brought over to Syscoin. Ethereum will have to build this developer ecosystem from scratch and it has taken Bitcoin many years to get its developer community to this scale.

When it comes to "goals" Ethereums goals are definitely different than those of Syscoin, and some might argue they are infeasible, definitely very tough challenges. Ethereum has smart people on their team, and I hope they accomplish what they've set out to do because if they do it really will be something cool and different (A turing complete currency- it has its own programming language you can build on and such, its a very bold undertaking). Syscoin on the other hand leverages potential that we're frankly surprised other's haven't leveraged already. We are seeing some other teams just now starting to recognize this potential albeit through other implementations (I'm thinking specifically about BitHalo here) but there is so much more that can be done with "Bitcoin 1.0" it doesn't require a rewrite. The Bitcoin foundation is very clear about their goals and they don't want to go into extending the core Bitcoin codebase in new directions ala Syscoin. That's why we're doing this- we see the potential, we don't see other teams acting on it fast enough, we know Bitcoin isn't going there (at least not yet/insofar as we know) so that's where we're going and we're tired of the clones when this potential is just sitting there, unrealized.

I hope that provides a little more insight  


GREAT question. So here we're talking about the paradigm shift that Syscoin is trying to bring about. Instead of a bank facilitating that title transfer on your yacht, or the boating administration more likely- the Syscoin network would. So what would happen is pretty much as you've outlined. If the Yacht Title is currently in a physical form it would have to be transferred to a digital form that is recognized by other legal entities.

To play this out proper lets start from the beginning- where you first purchased the yacht. So normally you'd take out a loan and the bank would hold the cert until you've paid it back, in which case the cert then transfers to you after fully paid off. Of course to do all this the bank charges you huge fees and there is a centralization of process. If you need the bank to loan you money they'd still hold the cert (can't avoid that) in this case and it would be digital. But the yacht dealership would be the certificate issuer, and would issue the certificate of ownership to the bank initially, the contents of the certificate would indicate that you own the yacht, but owe on it yet. Once you've paid off the yacht, the certificate contents are updated accordingly and then the bank transfers the cert to your sole ownership for a small fee (Syscoin service fee- as you stated). So now you own your yacht free and clear and this can be verified on the blockchain. Say you want to sell it, the same process plays out again but you do not need to register as a certificate issuer, you can just transfer your certificate of ownership once the buyer has sent you funds, or it can be transferred to another bank if another loan is involved, etc etc. Syscoin currently assumes the use of digital certificates but is extremely flexible as to their form and format- as you may have seen in the demo they can be as simple as a string or much more complex, even binary files up to a certain size.

This is a whole new kinda of feature/use case/paradigm for crypto currencies that we're talking about, so no doubt there will be some learning and adjusting we need to do as this plays out in the real world and that is what we are here to do. A benefit of this whole system is that there is no central authority enforcing the ownership of the yacht, the Syscoin network provides that and proof of ownership can be ascertained at any time as its all on the blockchain, decentralized and publicly visible (unless encryption is used, which can be used on the entire cert or just certain parts of it for privacy).

Regarding this part:

Yes there are huge opportunities for developers to build on top of the Syscoin platform. All the commands are available through the JSON-RPC API and because the contents of certificates are so flexible it is entirely up to the implementing developer to decide what the contents will be.

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We have heard the call to add tx ids to the public ledger for transparency and will have that up within 24hrs.

Oh same as.. Even as a dev I'll be mining this baby (actually already have, sadly only in testnet)

I hope so, and I do look forward to mining this coin!!

Well that's the thing.. With syscoin there are no shady people. Our real names are know, checkout http://syscoin.org/#team.
Moolah is well know as is the directors and people running the place.

Right now that's $611,000.  All it takes is 1 shady person...  IPOs have gotten such a bad reputation!  Plus, I have no BTC to invest. 

Think it would take a lot more to "disappear" these days alright

Besides the amount wouldn't be worth it to ruin their rep anyways unless it was millions the just maybe they would be tempted.  

Considering that tangible is a thing that is perceptible by touch, I think you picked the wrong hobby/line of work

IT is unless you don't have BTC to spend.  I like to invest my BTC in something a bit more tangible.

1.80120646 / 1035 BTC has been sold during the regular phase

yep there is no way to loose cash on this. moolah is too respected to run away with funds.