[ANN] Syscoin - Business on the Blockchain - LAUNCHED! - page 306.

snipsnoop

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Quote from: kencoles on July 25, 2014, 05:58:02 AM

I am following this project for many days and had came to an conclusion that this is very nice project but there is One problem and that is the price ,it is too high if we compare with total number of coins (2,000,000,000).In my opinion they should decrease the price .

Thank you.

Well that is your opinion as you say.
See https://bitcointalksearch.org/topic/ann-syscoin-business-on-the-blockchain-launched-587080

kencoles

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Activity: 244

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I am following this project for many days and had came to an conclusion that this is very nice project but there is One problem and that is the price ,it is too high if we compare with total number of coins (2,000,000,000).In my opinion they should decrease the price .

Thank you.

snipsnoop

legendary

Activity: 924

Merit: 1000

Quote from: awais3344 on July 25, 2014, 05:15:09 AM

...
Looks like the block reward has been changed to lower number of coins than the initial decision?
thanks
....

That is correct, we changed it based on the very good feedback we got.

awais3344

sr. member

Activity: 308

Merit: 250

Quote from: Traderberg on July 25, 2014, 05:05:18 AM

Quote from: awais3344 on July 25, 2014, 03:13:48 AM

hi, i invested some btc already, and thought i might invest some more. but i wanted to know.

until height 259000 every 24hr there will be 184320 coin.
Won't that be way too many coins for the current price of 465 satoshi?
No fud, just want to know. thanks

Also how do we obtain those shinny little gifts in return of our investment? Grin

That would be 0.857088 BTC/day worth of SYS mined. I'm not saying it's negligible for an altcoin market (well, that definition is damn close), so let me just give you some numbers:

DogeCoin: 33.30 BTC/day
DarkCoin: 29.25 BTC/day
LiteCoin: 375.26 BTC/day

you can do calculations for other altcoins yourself.

Also, keep in mind that mining SYScoin is essentially free (merged) and therefore old rules of hashrate/profitability dependance don't apply. Once there's a good network of merge-mined pools, Syscoin hashrate will stay very high and unprofitable to mine directly. At a certain point the amount of SYS mined by average ASIC miner will be so low, that it won't even be worth dumping on an exchange. Instead, a miner may actually buy more coins to increase his SYS holding to reasonable level.

In case there're only 1 or 2 miners mining SysCoin (extreme case), they'll both get ~0.43 BTC/day worth of SYS and of course it would make sense for them to dump it immediately. This is not a realistic scenario, but is still very easy to absorb for any market (with a volume around at least 10 btc/day, which isn't high even for cloned altcoins with no innovation)

hi, okay it makes better sense now. because before I read on another thread there was bigger reward. So I was confused.

Looks like the block reward has been changed to lower number of coins than the initial decision?
thanks

mwheeleruk

hero member

Activity: 554

Merit: 500

Crypto Enthusiast

Quote from: awais3344 on July 25, 2014, 04:36:48 AM

Quote from: ?? on ??

Quote from: awais3344 on July 25, 2014, 03:13:48 AM

Also how do we obtain those shinny little gifts in return of our investment? Grin

Nice to see your wanting to invest more - the momentum on the Presale price is increasing as its going to end soon

I've omitted the question RE numbers as it's going to be better coming from others - But for the Presale Goods just go via www.syscoin.org and follow the link to claim Presale bonuses at the top.

actually i invested twice, first one was .3 btc, then another 1.2btc. One was from brother and the other was from myself. Do I get to take both of these bonuses or only one? I hope both Cheesy

thanks

Thats fine, claim via www.syscoin.org in top right and put REF 7845 above your address so i know which one it is.

Traderberg

full member

Activity: 129

Merit: 100

Quote from: awais3344 on July 25, 2014, 03:13:48 AM

hi, i invested some btc already, and thought i might invest some more. but i wanted to know.

until height 259000 every 24hr there will be 184320 coin.
Won't that be way too many coins for the current price of 465 satoshi?
No fud, just want to know. thanks

Also how do we obtain those shinny little gifts in return of our investment? Grin

That would be 0.857088 BTC/day worth of SYS mined. I'm not saying it's negligible for an altcoin market (well, that definition is damn close), so let me just give you some numbers:

DogeCoin: 33.30 BTC/day
DarkCoin: 29.25 BTC/day
LiteCoin: 375.26 BTC/day

you can do calculations for other altcoins yourself.

Also, keep in mind that mining SYScoin is essentially free (merged) and therefore old rules of hashrate/profitability dependance don't apply. Once there's a good network of merge-mined pools, Syscoin hashrate will stay very high and unprofitable to mine directly. At a certain point the amount of SYS mined by average ASIC miner will be so low, that it won't even be worth dumping on an exchange. Instead, a miner may actually buy more coins to increase his SYS holding to reasonable level.

In case there're only 1 or 2 miners mining SysCoin (extreme case), they'll both get ~0.43 BTC/day worth of SYS and of course it would make sense for them to dump it immediately. This is not a realistic scenario, but is still very easy to absorb for any market (with a volume around at least 10 btc/day, which isn't high even for cloned altcoins with no innovation)

snipsnoop

legendary

Activity: 924

Merit: 1000

Quote from: Tompa on July 25, 2014, 04:44:26 AM

I just made a comment on this youtube film: http://youtu.be/Y9hR1yGOaNs?t=19m35s
When they started talking about the blockchain I automatically thought - Syscoin :-)

Ha indeed

Actually not a bad video

snipsnoop

legendary

Activity: 924

Merit: 1000

Quote from: sdersdf2 on July 25, 2014, 04:33:46 AM

Questions to the devs:
--how long have you been working on this project? And could you briefly describe your planned time commitment to this going forward?
--how does the coin production/distribution setup provide insulation from the risk of massive miner/whale dumps? Is there an estimate out there of the max # of daily BTC trading volume that might be needed to absorb mined coins?
--how will delivery be verified. Is there a disinterested third party that will verify the guaranteed-or-refund features are 100% delivered (marketplace, certificates, name aliases, and data aliases) and work well?
--what immediate plans do you have beyond delivery of these core guaranteed features to further increase the value of the coin/network?
--along those lines, are smart-contracts/prediction markets/futures/options things you plan to implement, or can see being (fairly quickly) implementable into this framework?
--what do you consider the three biggest uncertainties regarding development implementation (either with core or future-beyond-core features)?

Good questions. But will need some thought (And internal discussions) before answering. Will get back to this one asap. But good questions to ref as you suggested.

Tompa

full member

Activity: 224

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I just made a comment on this youtube film: http://youtu.be/Y9hR1yGOaNs?t=19m35s
When they started talking about the blockchain I automatically thought - Syscoin :-)

awais3344

sr. member

Activity: 308

Merit: 250

Quote from: ?? on ??

Quote from: awais3344 on July 25, 2014, 03:13:48 AM

Also how do we obtain those shinny little gifts in return of our investment? Grin

Nice to see your wanting to invest more - the momentum on the Presale price is increasing as its going to end soon

I've omitted the question RE numbers as it's going to be better coming from others - But for the Presale Goods just go via www.syscoin.org and follow the link to claim Presale bonuses at the top.

actually i invested twice, first one was .3 btc, then another 1.2btc. One was from brother and the other was from myself. Do I get to take both of these bonuses or only one? I hope both Cheesy

thanks

sdersdf2

full member

Activity: 224

Merit: 100

Questions to the devs:

--how long have you been working on this project? And could you briefly describe your planned time commitment to this going forward?
--how does the coin production/distribution setup provide insulation from the risk of massive miner/whale dumps? Is there an estimate out there of the max # of daily BTC trading volume that might be needed to absorb mined coins?
--how will delivery be verified. Is there a disinterested third party that will verify the guaranteed-or-refund features are 100% delivered (marketplace, certificates, name aliases, and data aliases) and work well?
--what immediate plans do you have beyond delivery of these core guaranteed features to further increase the value of the coin/network?
--along those lines, are smart-contracts/prediction markets/futures/options things you plan to implement, or can see being (fairly quickly) implementable into this framework?
--what do you consider the three biggest uncertainties regarding development implementation (either with core or future-beyond-core features)?

snipsnoop

legendary

Activity: 924

Merit: 1000

Quote from: sdersdf2 on July 25, 2014, 04:03:45 AM

Quote from: ?? on ??

Thanks again for all the positive words, must admit its nice to come back and see 3 new pages of positive content Cheesy

! Will be around later tonight to answer more questions- great one regarding market/seller rep!

I hope you guys have a plan (including the FAQ in the OP) for dealing with the next inevitable wave of FUD that always comes with success.

Oh we are ready

(have not forgotten about the ideas you gave us). Always going to have haters, nothing you can do about that.

sdersdf2

full member

Activity: 224

Merit: 100

Quote from: ?? on ??

Thanks again for all the positive words, must admit its nice to come back and see 3 new pages of positive content Cheesy

! Will be around later tonight to answer more questions- great one regarding market/seller rep!

I hope you guys have a plan (including the FAQ in the OP) for dealing with the next inevitable wave of FUD that always comes with success.

awais3344

sr. member

Activity: 308

Merit: 250

hi, i invested some btc already, and thought i might invest some more. but i wanted to know.

until height 259000 every 24hr there will be 184320 coin.
Won't that be way too many coins for the current price of 465 satoshi?
No fud, just want to know. thanks

Also how do we obtain those shinny little gifts in return of our investment? Grin

SirEGB

member

Activity: 142

Merit: 10

Quote from: mwheeleruk on July 25, 2014, 03:00:11 AM

Quote from: AllAltNews on July 25, 2014, 01:55:24 AM

New blogpost posted!

http://allaltnews.blogspot.com/2014/07/syscoin-scrypt-based-coin-with.html

Enjoy!

Nicely formatted and has the information and reference links people need, Thankyou. We will add your details to the Bounty Ledger Wink

That is true, you usually don't find that much and sometimes not even in the OP, which is kind of hilarious if you ask me. :Very nice blog indeed. Wink

mwheeleruk

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Crypto Enthusiast

Quote from: AllAltNews on July 25, 2014, 01:55:24 AM

New blogpost posted!

http://allaltnews.blogspot.com/2014/07/syscoin-scrypt-based-coin-with.html

Enjoy!

Nicely formatted and has the information and reference links people need, Thankyou. We will add your details to the Bounty Ledger Wink

AllAltNews

member

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Merit: 10

Follow @AllAltNews on Twitter and Facebook!

New blogpost posted!

http://allaltnews.blogspot.com/2014/07/syscoin-scrypt-based-coin-with.html

Enjoy!

danosphere

legendary

Activity: 1036

Merit: 1001

Syscoin- Changing the way people do business.

Quote from: Winslow Strong on July 24, 2014, 08:10:36 PM

Quote from: ?? on ??

So we don't have escrow yet (working on it!) and we don't have reputation yet... but I think that escrow would facilitate reputation as outlined above. If this is the case then adding that reputation to a seller would be very simple, its more the construct of making sure that reputation is accurate which imo can only really be derived from verified escrow transactions (they said they'd send me the item, i paid for the item, I got the item as described). Similarly if the buyer receives the item not as described they could file a dispute which could decrement the reputation of the seller. Again keep in mind this is off the top of my head after a full workday Tongue

With an escrow system like that, it seems to me that the main need for reputation (beyond the escrow agent,s which is obviously important) would be reputation of buyers rather than of sellers (since buyers get the goods before sellers get the SYS).

I know very little of reputation systems, other than defense against sybil attacks is a basic concern. There was a very detailed discussion on a recent Beyond bitcoin. Fruitful ideas coudl probably be drawn from that.

http://letstalkbitcoin.com/blog/post/beyond-bitcoin-9-a-new-breed-of-exchange
The discussion I'm referring to is about http://bitsquare.io/

Excellent link thanks I'll review this and see what insights we can draw from it Wink

Just a quick update- got the main thread all updated with the final rewards schedule as posted from last night (with correct blockheights!) and I also posted a few more translations people have claimed the bounties for; we still have a number of presale bounties open, claim them on altcoingiveaways to start earning SYS right now!

Working on feature demo videos...

Winslow Strong

newbie

Activity: 53

Merit: 0

Quote from: ?? on ??

So we don't have escrow yet (working on it!) and we don't have reputation yet... but I think that escrow would facilitate reputation as outlined above. If this is the case then adding that reputation to a seller would be very simple, its more the construct of making sure that reputation is accurate which imo can only really be derived from verified escrow transactions (they said they'd send me the item, i paid for the item, I got the item as described). Similarly if the buyer receives the item not as described they could file a dispute which could decrement the reputation of the seller. Again keep in mind this is off the top of my head after a full workday Tongue

With an escrow system like that, it seems to me that the main need for reputation (beyond the escrow agent,s which is obviously important) would be reputation of buyers rather than of sellers (since buyers get the goods before sellers get the SYS).

I know very little of reputation systems, other than defense against sybil attacks is a basic concern. There was a very detailed discussion on a recent Beyond bitcoin. Fruitful ideas coudl probably be drawn from that.

http://letstalkbitcoin.com/blog/post/beyond-bitcoin-9-a-new-breed-of-exchange
The discussion I'm referring to is about http://bitsquare.io/

snipsnoop

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Quote from: sidhujag on July 24, 2014, 04:31:56 PM

Quote from: snipsnoop on July 24, 2014, 03:13:57 PM

Always hated the way SMF did tables.

Again thanks to Traderberg for your input

THis should be stickied on the main post!

Aye, just adding the based on 518sat to it and then Dano will put it there in a bit

Topic: [ANN] Syscoin - Business on the Blockchain - LAUNCHED! - page 306. (Read 490249 times)