[ANN] Syscoin - Business on the Blockchain - LAUNCHED! - page 308.

Traderberg

full member

Activity: 129

Merit: 100

Quote from: snipsnoop on July 24, 2014, 05:14:20 AM

aha its you

. Dan did indeed mention your name. We had multiple options we were looking at, but all agreed that this was the one to use that would work out the best going forward.
Nice work and thanks for the feedback. Always value it.

Also people seem to overlook a simple fact that this is a merge-mined coin, i.e. most miners will get SYS for free while mining litecoin/dogecoin/whatever scrypt coin is profitable via a network of merge-mining pools. It's not a coin made for the sake of mining/trading, the number one priority is still having a secure network with high hashrate to run build-in services. And, of course, another main idea is to reward IPO buyers as much as possible because their money is what will make SYS happen (further development). Therefore it required a different approach in mining rewards design – it's good to see the community is reacting positively to the new schedule

michaelb87

sr. member

Activity: 364

Merit: 250

Nice change in mining reward, will be investing some more now

snipsnoop

legendary

Activity: 924

Merit: 1000

Quote from: Traderberg on July 24, 2014, 05:08:15 AM

Quote from: realestmofo on July 24, 2014, 03:47:23 AM

Here check this over. https://i.imgur.com/0KFnxJ9.jpg

Here is a Google Docs link.
https://docs.google.com/spreadsheets/d/1xuippA288LWasihZAZAPJ7c2UVhzewrxdWZiNqkIsBY/edit#gid=0

You have a very similar typo. 96 block reward = 138,240 per day and not 69,120 (69,120 number is copied from the 48 reward section by mistake).

No need to show me that table, because this updated reward scheme it's my proposal (and it's good to see it accepted by the Syscoin team without any changes). You're certainly welcome Cool

aha its you

. Dan did indeed mention your name. We had multiple options we were looking at, but all agreed that this was the one to use that would work out the best going forward.
Nice work and thanks for the feedback. Always value it.

Traderberg

full member

Activity: 129

Merit: 100

Quote from: realestmofo on July 24, 2014, 03:47:23 AM

Here check this over. https://i.imgur.com/0KFnxJ9.jpg

Here is a Google Docs link.
https://docs.google.com/spreadsheets/d/1xuippA288LWasihZAZAPJ7c2UVhzewrxdWZiNqkIsBY/edit#gid=0

You have a very similar typo. 96 block reward = 138,240 per day and not 69,120 (69,120 number is copied from the 48 reward section by mistake).

No need to show me that table, because this updated reward scheme is my proposal (and it's good to see it accepted by the Syscoin team without any changes). You're certainly welcome Cool

profitofthegods

sr. member

Activity: 378

Merit: 250

Great news on the change to mining rewards! That gives me much more confidence that the price will rise - and keep rising - after launch.

snipsnoop

legendary

Activity: 924

Merit: 1000

Quote from: vishi_tup on July 24, 2014, 04:17:44 AM

when is the release?

From the OP

Quote from: danosphere on April 27, 2014, 03:31:25 PM

...
Q: When will the coin launch?
A: We will launch by Aug 16th 2014 or possibly sooner if the presale sells out sooner and the platform is ready.
...

vishi_tup

newbie

Activity: 42

Merit: 0

when is the release?

snipsnoop

legendary

Activity: 924

Merit: 1000

Quote from: sisx2007 on July 24, 2014, 03:56:59 AM

it's funny,every day you have a new change...is it mean something?

Well I would not agree with that. First we have made since pre-sale started.
Concerns were expressed by the community about the mining figures.
We listened, looked at it and made the changes we felt would make the most sense.

sisx2007

full member

Activity: 137

Merit: 100

it's funny,every day you have a new change...is it mean something?

realestmofo

full member

Activity: 168

Merit: 100

If you aren't comfortable ........

Quote from: Traderberg on July 24, 2014, 03:26:49 AM

Quote from: realestmofo on July 23, 2014, 10:31:54 PM

Very interesting.

First 6 months a total of 33,177,600 coins. That is 184,320 a day. At presale price 0.95btc a day.

That should help the market since if the price triples that's still 3btc worth a day being mined. Those buying into the presale and selling higher will help distribute the coins a bit too.

After that the next 360 days which is basically a year is only 24,883,200 total or 259,200 a day. At presale price that is 1.34btc a day.

Year and a half in 58,060,800 total coins + devs + bounties + presale.

Just take the mined coins in the first 18 months and say the price is 2000 (4x more than presale price) sat then market cap for mined coins is 1161btc or $719,820 at current price.

Factor in a sold out presale and devs coins then market cap at 2000 sat will be 8361btc or $5,183,820

And going hard on the escrow system is huge too. Some sellers on market places are requesting money up front because they do not trust anyone else holding the money and they are even looking to start their own private market place. Hopefully they will take a good hard look at Syscoin when it launches. (Although they probably want TOR / anon as much as possible)

Buy and hold.

Hey, your math is a bit off. The number you see in the table in not a number of blocks for each mining period, but a block height.
Therefore the second mining period will provide 138,240 a day (not 259,200, still not sure how exactly you got that number). Daily supply will gradually drop all the way to 46,080 in a few years.

Note that BTC price has dropped a bit so USD numbers may be a bit off.

Here check this over. https://i.imgur.com/cDPsvri.jpg

Here is a Google Docs link.
https://docs.google.com/spreadsheets/d/1xuippA288LWasihZAZAPJ7c2UVhzewrxdWZiNqkIsBY/edit#gid=0

Traderberg

full member

Activity: 129

Merit: 100

Quote from: realestmofo on July 23, 2014, 10:31:54 PM

Very interesting.

First 6 months a total of 33,177,600 coins. That is 184,320 a day. At presale price 0.95btc a day.

That should help the market since if the price triples that's still 3btc worth a day being mined. Those buying into the presale and selling higher will help distribute the coins a bit too.

After that the next 360 days which is basically a year is only 24,883,200 total or 259,200 a day. At presale price that is 1.34btc a day.

Year and a half in 58,060,800 total coins + devs + bounties + presale.

Just take the mined coins in the first 18 months and say the price is 2000 (4x more than presale price) sat then market cap for mined coins is 1161btc or $719,820 at current price.

Factor in a sold out presale and devs coins then market cap at 2000 sat will be 8361btc or $5,183,820

And going hard on the escrow system is huge too. Some sellers on market places are requesting money up front because they do not trust anyone else holding the money and they are even looking to start their own private market place. Hopefully they will take a good hard look at Syscoin when it launches. (Although they probably want TOR / anon as much as possible)

Buy and hold.

Hey, your math is a bit off. The number you see in the table in not a number of blocks for each mining period, but a block height.
Therefore the second mining period will provide 138,240 a day (not 259,200, still not sure how exactly you got that number). Daily supply will gradually drop all the way to 46,080 in a few years.

GTO911

hero member

Activity: 672

Merit: 500

WOW, delighted by the mining reward change now. This is exactly what was needed. No overflowing flooded market. But controlled stream of supply.

Can anybody do some math and post some new economy figures now before i send truckloads of BTC Grin

btw i want everyone to bombard this forum with sys education posts. This is the more fair ethereum we got here

mwheeleruk

hero member

Activity: 554

Merit: 500

Crypto Enthusiast

Quote from: *Sakura* on July 24, 2014, 02:33:29 AM

Quote from: danosphere on July 24, 2014, 12:02:22 AM

Glad everyone likes the updates! Grin

I just bought a certain amount in the IPO, received a confirmation e-mail. Then I saw the update. And I am doubly glad my investment!

Now looking forward to the start. Thank you, Dev!

It's statements like this, that will make us even more happier when we bring you Syscoin and it's Services.

*Sakura*

legendary

Activity: 1624

Merit: 1005

I wish you all love and profitable investments!!!

Quote from: danosphere on July 24, 2014, 12:02:22 AM

Glad everyone likes the updates! Grin

I just bought a certain amount in the IPO, received a confirmation e-mail. Then I saw the update. And I am doubly glad my investment!

Now looking forward to the start. Thank you, Dev!

AuroraHF

hero member

Activity: 784

Merit: 500

Launch date is really close now, less than a month. Let's hope this gets somewhere.

mwheeleruk

hero member

Activity: 554

Merit: 500

Crypto Enthusiast

Quote from: ?? on ??

Quote from: danosphere on July 24, 2014, 12:02:22 AM

Quote from: sebastien1234 on July 23, 2014, 11:42:49 PM

Quote from: tobeaj2mer01 on July 23, 2014, 11:06:33 PM

by the way, there is a little deviation between the actual received BTC and it shows in email due to transaction fee.

You just confirmed why you are having a problem, you need to send the amount specified PLUS the transaction fee, usually wallets will already do that for you but exchanges almost never do since you are just cashing out. If the amount you send was less, than just send the difference to the same address (PLUS whatever transaction fee it charges you). Once received, it will take up to 6 hours for you to receive the confirmation e-mail.

What @sebastien1234 is saying is spot on but please be aware that right now the confirmation emails on these "top ups" (as we call them) are not going out and Moolah is working on addressing this issue (noted in op). You can send the top up, its being associated with your purchase and stored securely with the rest of your BTC its just the email piece that needs addressing. Once emailing is fixed you will receive an email confirming your final, full amount.

Glad everyone likes the updates! Grin

Sir, I sent the BTC at earliest stage(2014-07-19) when pre sale starts a few minutes since I always pay attention to this coin, until now I have not received the confirmation email, I sent a little more than its in the email(actually sent *.708, it's *.7 in email), not sure why the amount should be so exactly, what' the workaround to fix the issue like mine.

Hi

Have you checked via your spam folder ETC, Please send an email to [email protected] and they will look over the transaction numbers for you - send them any reference numbers that you may have been sent also.

danosphere

legendary

Activity: 1036

Merit: 1001

Syscoin- Changing the way people do business.

Quote from: sebastien1234 on July 23, 2014, 11:42:49 PM

Quote from: tobeaj2mer01 on July 23, 2014, 11:06:33 PM

by the way, there is a little deviation between the actual received BTC and it shows in email due to transaction fee.

You just confirmed why you are having a problem, you need to send the amount specified PLUS the transaction fee, usually wallets will already do that for you but exchanges almost never do since you are just cashing out. If the amount you send was less, than just send the difference to the same address (PLUS whatever transaction fee it charges you). Once received, it will take up to 6 hours for you to receive the confirmation e-mail.

What @sebastien1234 is saying is spot on but please be aware that right now the confirmation emails on these "top ups" (as we call them) are not going out and Moolah is working on addressing this issue (noted in op). You can send the top up, its being associated with your purchase and stored securely with the rest of your BTC its just the email piece that needs addressing. Once emailing is fixed you will receive an email confirming your final, full amount.

Glad everyone likes the updates! Grin

sebastien1234

sr. member

Activity: 654

Merit: 252

PR Director@Blockchain Foundry/Co-Founder@Syscoin

Quote from: tobeaj2mer01 on July 23, 2014, 11:06:33 PM

@danosphere
Sir,
The last email I received is as below and I have sent BTC to the address in this email, but no further email received

Your investment address has been generated, please send funds to the below address within the next 30 minutes or your reservation will be cancelled.

Investment Address
1L**************************
Investment Amount
*.*0000000 BTC

It's a little different with the process in OP:
Go to http://moolah.io/syscoin, it contains all of the pricing details related to the presale.
Fill out the form fields, making sure to use a valid email address as this is where further instructions for securing your presale Syscoin will be sent.
Check your email, send EXACTLY the amount specific in the email PLUS the service fees to the address shown in the email- this address is specific to you.
After sending the BTC amount, you will receive a confirmation email confirming that you have secured your presale Syscoin.

I checked the blockchain and make sure the BTC has been sent successfully.

Is this OK?

by the way, there is a little deviation between the actual received BTC and it shows in email due to transaction fee.

You just confirmed why you are having a problem, you need to send the amount specified PLUS the transaction fee, usually wallets will already do that for you but exchanges almost never do since you are just cashing out. If the amount you send was less, than just send the difference to the same address (PLUS whatever transaction fee it charges you). Once received, it will take up to 6 hours for you to receive the confirmation e-mail.

kingscrown

hero member

Activity: 672

Merit: 500

http://fuk.io - check it out!

I like this changes - make sense!

mwheeleruk

hero member

Activity: 554

Merit: 500

Crypto Enthusiast

Quote from: tobeaj2mer01 on July 23, 2014, 11:06:33 PM

@danosphere
Sir,
The last email I received is as below and I have sent BTC to the address in this email, but no further email received

Your investment address has been generated, please send funds to the below address within the next 30 minutes or your reservation will be cancelled.

Investment Address
1L**************************
Investment Amount
*.*0000000 BTC

It's a little different with the process in OP:
Go to http://moolah.io/syscoin, it contains all of the pricing details related to the presale.
Fill out the form fields, making sure to use a valid email address as this is where further instructions for securing your presale Syscoin will be sent.
Check your email, send EXACTLY the amount specific in the email PLUS the service fees to the address shown in the email- this address is specific to you.
After sending the BTC amount, you will receive a confirmation email confirming that you have secured your presale Syscoin.

I checked the blockchain and make sure the BTC has been sent successfully.

Is this OK?

by the way, there is a little deviation between the actual received BTC and it shows in email due to transaction fee.

So you specified an investment amount and sent EXACTLY that amount to Moolah?

Topic: [ANN] Syscoin - Business on the Blockchain - LAUNCHED! - page 308. (Read 490241 times)