Topic: [ANN] Syscoin - Business on the Blockchain - LAUNCHED! - page 311. (Read 490241 times)

Sorry no idea about the Moolah IPO. Think you have to contact them directly.

Im interested in the Moolah IPO. Has it finished forever? I remember you could send a certain BTC then get paid a % monthly, but they refused my donation for some reason and I was kept out of the "cake" so to speak.

5 features technically, and here is clarification since the OP restates some of them in the context of a use-case:
- universally merge-mineable (self describing)
- distributed marketplace (the ability to buy and sell goods on the blockchain)
- distributed certificates service (the ability to issue, receive, and transfer digital certificates on the blockchain)
- data aliases / distributed data storage (the ability to store, retrieve, delete, and update data on the blockchain up to 250k per dataalias)
- name aliases / decentralized id/value storage (the ability to store, retrieve, delete, and update key/value storage on the blockchain. The ability to send funds directly to a key/value if the associated value is a valid Syscoin address)

Those are the features, and the literal descriptions of their delivery/functionality.

We do have paperwork in place that outlines we don't get any BTC until Syscoin is fully delivered. This must happen by August 16. These features must be delivered in working order. They must be 100% functional via at least the command line/daemon but we will of course be addressing any bugs that are discovered after launch, that is part of what the fund is being put towards amongst other things.



It will be our responsibility to make sure we're delivering what we say we're delivering. Moolah knows our names as does the community- they are listed on the Syscoin website (and we do have legal paperwork in place). We'll have much bigger problems than a failed coin if we try to release this in any kind of dishonest/halfcomplete manner. Both legally and personally.


Command line for sure; already done. Working on the GUI part now, not guaranteed for delivery at launch but something we're pushing for- just because its not present in the GUI wallet doesn't mean its not a complete, functional service of Syscoin. I do want to be clear that we are trying to get all of this in the GUI wallet during this 4 week timespan. There are already major portions of Syscoin services in the GUI wallet, but the command line is still more robust at the moment.


No, we are making UP TO 1500btc of Syscoin available for presale at a fixed price depending on the phase you purchase in. We are not asking for 1500btc. We're launching this thing with or without 1500btc. If users feel Syscoin will be available on an exchange for a lower price, they are welcome to purchase it there. Participation in the presale 100% optional. Important note is that we are structuring the mining rewards to take into consideration the fact that possibly 15% of Syscoin will be on the market via the presale.

Interesting stuff. Not sure if this has been covered elsewhere but anyway - one of the issues with decentralized marketplaces is going to be scammers, because there is no central authority to impose rules on refunds etc and make sure everyone is playing fair. What solutions do you see for this - will it be a reputation based system and if so how do you envision reputation being managed / assessed or are you leaving that entirely up to third parties building on top of Syscoin?

I'm kind of late to the party here.  I have skimmed the pages but hadn't found what I wanted.  You are asking for 1500 BTC from the community and putting those coins in escrow with a third party but there's no contract, no open agreements, no clear explanation for the way the money will be handled or how it will be distributed. 

This is the only somewhat legal snip-it or disclaimer I see.

--- Quoted from OP ---
PLEASE READ: Presale purchases are final. There will be no individual refunds unless the Syscoin Team does not deliver. Delivery is defined as: Syscoin as a universally merge-mineable coin with the 4 features outlined in preann (marketplace, certificates, name aliases, and data aliases). Double check your numbers before sending BTC! In the event the Syscoin Team does not deliver Syscoin, all presale purchases will be refunded. In that event Moolah will reach out to investors to verify the refund-address before issuing the refund.
--- End Quote ---

Where is this disclaimer stated in an agreement between you, me and Moolah?  Moohlah is holding the funds but i do not see any agreement that we agree to before sending Moolah our information.

"Delivery is defined as: Syscoin as a universally merge-mineable coin with the 4 features outlined in preann (marketplace, certificates, name aliases, and data aliases)." 

• 1. So you, Syscoin, will not receive any BTC from Moolah until all 4 of these services are completed and working 100%?  Not partially working, not 80% working but working 100% and stable?
• 2. How long do you have to complete all these services?  1 week, a month, a year?
• 3. Who determines that these items are complete and in proper working order?
• 4. If these items are not completed or not in 100% working order, how long do you have to complete or fix them.
• 5. If they are never fixed or never completed, who determines a refund is going to be provided?

Where are these 4 features (marketplace, certificates, name aliases, and data aliases) outlined in preann?
I see something called: Business on the Blockchain, Brokerage on the Blockchain, Certificates on the Blockchain, Miners Matter!. 
I also see 4 block images labeled: Decentralized Markets on the Blockchain, Secure Data Storage on the Blockchain, Digital Certificates and Assets, and Miners Matter!. 

I assume these are all the same thing but there needs to be clear clarification of what these 4 items are, what they are suppose to do and how they are suppose to work.


"All Syscoin features described here have been implemented and the Syscoin wallet is currently in beta testing."  Will all these features be wrapped up in a GUI wallet or is it all command line based?


You have entered into a contract with Moolah to escrow these funds.  They have a duty to protect investors but also protect developers.  Where are the terms that you and Moolah agreed too?  Where did Moolah agree to refund investors if the project is not delivered and what were the stipulations that warranted a refund?

You are asking for more than $900,000 worth of BTC at current market value.  You are offering the potential of a refund if you do not deliver on the "4 features".  As investors we need classifications on some of these questions so we are protected and have means to seek recourse if you do not deliver.

This is a great question. Let me try and answer initially and then @coderboo may come through with a more technical answer.

Let's play out a hypothetical use case as i think that might be the easiest way to convey how this might play out- let's call it SysBay. Initially there will be some effort involved to create a decentralized SysBay, a developer would need to build a front end on top of the Syscoin marketplace service to display only a subset of offers (just those related to SysBay) in a user-friendly display (think something that looks like ebay). Then, regular users would use this front end to list items for sale on SysBay or buy items from other users who sell things on SysBay. This would also provide the SysBay developer with some revenue as they will have the option of adding fees for their users to leverage their frontend which makes all of this interaction with decentralized markets much more user friendly.

As it is implemented today, SysBay would have to be "fixed price" because marketplaces within Syscoin don't currently have the construct of bid/asks but we are already looking at that and may be enhancing that prior to launch. At the moment though its a fixed price mechanism for marketplace offers.

Additionally, we are working with Moolah to make this type of experience more readily available to a wider audience. They already have a complete merchant platform and are working on more things I'm not able to disclose at the moment related to marketplaces. This is one of the reasons we partnered with them and vice versa; we have a technology solution that facilitates decentralized end-user services that they want to offer to users via the Moolah platform and we're working with them to make that happen.

So even as a user that may not be very technical, Syscoin provides business opportunities to developers (any developer) that will make user-friendly marketplaces on top of Syscoin pop up very fast. Additionally the Syscoin Team is looking to release something generic/whitelabel to serve as a basis for others to build out. We definitely realize at the bare-bones level this is technical stuff and in order for mass adoption to occur there will need to be layers between "raw Syscoin services" and the "end user" that make this easy and consumable from the start.

We're working on this and will have these coming out over this week and the following weeks. The focus at the moment is the updated reward schedule which we'll be publishing tomorrow. We should have an additional video tomorrow evening with more to follow.

It really does take a lot of time just managing the misinformation that some users are posting in this thread. I would like to express my appreciation to all of those BCT users who have stepped in to help correct the plethora of misinformation being posted by others. The more BCT users can help us to manage this misinformation, the more we (the Syscoin Team) can use our time on creating press releases, videos, podcasts and more.


Emphasis added just in case it got lost in the stream of text

How easy will it be to build a decentralized eBay out of Syscoin? Will people be able to buy and sell items through Moolah in a decentralized manner utilizing Syscoins, or will it be through some special portal or app or something? I'm not too down with the "technical" side of all this, so I'm not even sure if it's possible with Syscoin's offerings, but I imagine this with a user-friendly approach would go far in terms of initial adoption.

So - aside from all the details relative to the launch itself, coin valuation etc, anyone out there have some interesting technical questions for us? We can talk use cases, implementation details, etc.. just ask!

edit: i am doing this for the benefit of every here who want buy sys coins, presale are in progress, first come first sever.

Hi Guys,
Leaving this here for updated comments. Can't wait for launch!

Guys - any progress on the press release, podcasts etc. ?  Should really help to build up the momentum.

Transparency: I have deleted additional posts from user 'zhangdu'. I will continue deleting this user's posts until the content comes back into the realm of productive discussion. I am doing this for the benefit of everyone here who is looking for real information and not banter/name calling. This thread is not the place for name calling or other childish comments.

----


This is a great point and something we're really trying to make easy for people to use. We want to keep the API very flexible, and then build abstracted front-ends on top of this API (like a simple web front end or something of that nature) to make it very easy to interact with these features.

Solid developers will still jump down to the pure-api level and see what potential it presents and start building business and services on top of it in the vein that @Coderboo was speaking to, which will be huge; but at the same time we as a dev team are looking to make this easier for users who are not developers to interact with and leverage these innovative features as well.

Want to thank you @sidhujag for your patience with some of the replies to your more technical questions, and for asking such relevant and "deep" technical questions 

Cool,

Well I was imagining setdata to be arbitrary, 256k of data, either a message or some other data, maybe an encoded image or something who knows... just like an email with html attachments. SendMessage assumes text interaction but if you do a setdata api/parser then you can add in the text stuff into the same command as data... but maybe that doesn't make sense from a utility (tool) perspective.

The easier you make it to use, while keeping API flexibility, the bigger benefits it will provide its users.

zhangdu give it up, you were spamming (and are continuing to spam). The devs have been completely transparent in regards to deleted postings, and I agree with them 100%.

Of course,I have read the OP. I think the syscoin is APP based on LTC. Not LTC clone.Someone can correct me if wrong.

Yes, but the problem was you said it multiple times and was basically spamming.

I would suggest you read the OP, there is a lot of info about what Syscoin is. We have a lot more features than LTC and is not just another clone.
Happy to answer any questions you have.

I don't understand why my posts were deleted.
I just say why 15% pre-mine for 1500BTC.It's too expensive.
Syscoin is APP based on LTC. I cann't see more.
Am I wrong?

lol.. Dont worry, I had to ask the same question at some point as well..

http://en.wikipedia.org/wiki/Fear,_uncertainty_and_doubt

it means some one said something a 'pumper' didn't like.

they claim it stands for fear, uncertainty, doubt but its overused for everything.