Topic: [ANN] Syscoin - Business on the Blockchain - LAUNCHED! - page 342. (Read 490242 times)

why last minute with all the this mystery!!

video: tl;dw. Not sexy. love the idea, but the coin isn't getting much love. Why aren't you making this sexy to non technophiles? Need marketing.. Real marketing support. Dan is a superstar in a bunch of areas including social media, but not a master marketer.

Still have my reservations about Scrypt based and bitcoin code base for that matter, but I'm still keeping a close eye and looking forward to the ipo details none the less.

Got my eye on this one for sure... seem to be a lot of interesting ICOs going on around now (this, crypti, and viacoin). Will be interesting to see how they all turn out.

How long time it will be possible to invest ?

And there is a limit or not? Like Crypti at 750 BTC

Good question! "Smart Contracts" as interpreted in the vein of Nick Szabo would probably require leveraging multiple Syscoin services such as a certificate and an offer (offer's have the cost, quantity, and payment flow attached). In the demo video, we only show the certificates side of that (and an extremely rudimentary example at that). Based on my understanding (reading here) an offer would need to be combined with a cert to produce a "smart contract" like flow. I need to do more reading on this definition of smart contracts and then I can give a more thorough reply on how that relates to Syscoin, or if its something different entirely. Based on my initial reading it seems to be a combination of offers and certificates, but I do need to read more. The important part here is there is no central authority (a bank, a broker, a ticket reseller) enforcing or maintaing the certificate/contract and its provable ownership, the network facilitates that.

It is not the same thing as the NXT asset exchange. Our "offers" feature is "sort of" like the NXT assets (NXT assets are rather confusing imo - this doesn't look like something I can just buy), our offer implementation is more understandable from a normal user/marketplace perspective. Its like listing an item for sale. From what i understand of NXT asset exchange it has to do with shares of NXT (or something), the marketplace looks like a blog so its hard for me to determine what exactly is going on there. And I read their whitepaper and it wasn't the most informative so providing concrete comparisons to NXT I won't do- but i will read up more on the generally understood concept of crypto-smart-contracts and provide a better explanation of how Syscoin plays into that role.

Also as I mentioned earlier Syscoin is not a ground up rewrite like NXT. It takes well-reviewed codebases (Litecoin, Bitcoin, Namecoin) and combines their features and build on them.

I will let Dan answer the first part.
But in relation to blockchain bloat the fees involved would mean it would be quite expensive to do.
It is the same for the other commands.
As per namecoin, fees are based on blockheight and command type and will go down on a sliding scale.

Is there a beta available yet, or will there be one available before the IPO starts?

I might have missed it but danosphere, how are you guys enabling smart contracts on your blockchain? Cause the whole certificate thing looks more like asset on next and not really a smart contract. Another query I had was, how do you stop people from issuing worthless certificate to bloat the blockchain?

Yes. A few more morals:
- invest only what you can afford to lose
- don't be greedy
- understand that on the road to a new all time high there will be some all time lows
- do not panic sell

Isn't that the very basic of investing?

Moral is not to invest if you not willing to accept the risk?

The coin is - without a doubt - innovative. Those who are asking what's so special about it just didn't make effort to read the thread.

IPO - if you don't like the coins at this price wait for them to arrive at the exchange and buy them there. Usually coins on the exchange are much cheaper than the ones in IPO, but IPO is good for those who would like huge volume of coins, who don't mind that for some time market price will be way below IPO price and who believe that the coin is good enough for it's price to spike. We don't want here people screaming "I bought the coin for 5X and now it is worth only 1X - that's how it works.

Good luck for all the team!

WOW that was fast. I just uploaded that 5min ago. Well done sir!

Feedback welcome- and as promised more videos (and whitepapers) to come.

Here is part of a post some may have missed.

The post I quoted talks about a couple things. Launching feature-complete with the 4 core features outlined in the OP.

1. Business on the Blockchain

2. Brokerage on the Blockchain

3. Certificates on the Blockchain

4. Miners Matter

They mention next may be escrow on the blockchain.

That right there is huge. Buy and sell things on the market place with blockchain escrow in the future.

Also, there will be bounties for those who want to get paid for their work.

Some things to think about as the presale opens.

Video on Syscoin Certificates Demo www.youtube.com/watch?v=e7HczUeEXeQ

+1 And because for large distributed financial systems like this that go beyond a simple system of recording transactions you want as much stability (hashing power) and decentralization of that power as possible. Scrypt mining plus merge mining is the answer here. You can mine Syscoin alongside any other Scrypt-based coin, its not a question of if that coin allows it or not. Because of this, you'll immediately be able to merge mine Syscoin using P2Pool.

For larger more ubiquitous pool setups as @sebstien1234 pointed out we'll be offering a large bounty for an MPOS fork that implements merged mining, which would mean (if pools upgrade to this version of MPOS) you could mine Syscoin alongside all the current Scrypt based mining pools running on MPOS. That is a lot of hashing power, and also makes the coin far less susceptible to Multipool attacks once the full network power is realized and ensure that people will keep mining Syscoin on the side for the network and service fees even after PoW ends.

I want to point out our team is always looking at the horizon as to what to do next (...and we haven't even launched yet). We have some cool things planned for Syscoin and its not just some x275 PoW, we'd like to think bigger than that

We are leveraging the most used algorithm after sha-256 to ensure the good-health of the network and to spread distribution amongst miners, reducing possibilities of heavy dumping, which is specifically the reason it is merge-mine-able. You will technically be able to mine it with ANY other Scrypt coin as long as the pool supports it; we will also be offering a bounty to release an MPOS fix so that any MPOS scrypt pool will be able to merge-mine it.

Why Scrypt?? That runs so hot and in the summer it is even worse.  What Scrypt coins are merge-minable with this and what pools support merg-mining of Scrypt?.

what pre-sale price guys?I thought that the developers will take btc and divide on the total number of coins pre-sale. NO?!

Thanks, that's exactly what I wanted to know.

No.

You don't even know the price per coin yet. Do some calculations to see if benefits outweigh the risk.

Whitepaper is not even released yet.

No need to jump the gun.