Topic: [ANN] Syscoin - Business on the Blockchain - LAUNCHED! - page 347. (Read 490255 times)

launch time？？？

Reading their whitepaper I can tell you some of the differences are the features they are talking about offering, they don't actually have functional yet (see way down that the bottom; concept not ready, partially done, some aren't started). I agree their may be similarities as I see parallel with Namecoin which Syscoin also does share.

I would tell you more of what's different but I'm having trouble locating their github repo to actually compare code and see what they do vs. Syscoin. Can you help me with a link pls? Can provide more info after I give their code a review.

Alright I see the improvement of Syscoin over Bitcoin.
But whatabout NXT?
In my understanding they have the same features, but without miners inflating the price.

Please correct me if I am wrong

Any data can be stored on the blockchain with a set expiration height. Fees will clearly have to be paid though and there are limits in place.
After it expires it will be removed. As per namecoin fees will initially be high and then be on a sliding scale as block height increases.
A lot more details to follow when we get closer. Don't want to give it all away just yet.

The "Data Alias"for storing data. What kind of data will this be and will it be stored on blockchain (if thats the case its not that optimal)?

watching .

Thank you for your suggestion, although the launch date has not yet been determined, we certainly want it to be as fair as possible and will take all of your suggestions into account.

To ensure fair distribution and time for miners to get ready, why don't you distribute the client with the miners...encrypt it....then once you say ready get set go, post the key to decrypt it, so that miners can start at the same time.

In order to give people some further insight into exactly what Syscoin is/offers/does as well as "proof" of the thinking and work that's already occurred to make this a functional reality - here is a graphic illustrating the key differences between Bitcoin and Syscoin and the features Syscoin will bring to the table at time of launch (shortly after presale closes). Happy to answer any questions people may have about any of the features coming @ launch.

Don't really see the relevance here sorry.

Another question, how to avoid the coins are monopolised by the Large Miners, they will dump the price very soon when it hit platform.

Thoughts on this distribution strategy suggested by Tacotime?

Client (along with a CPU and GPU miner) will be encrypted by scrypt and packaged with a program to decrypt it long before the actual release.  A time will then be given for mining to begin.  At this time, you get the password, and everyone gets to mine at the same time.  Depending on the interest expressed, the starting difficulty will be set at around 2000-6000 7970's worth of power for 2 minute/block target time.  Multiple pools are also planned to be available at launch.

8 months but they all blur together. And yes this will be open source and no doubt people will try to clone it just to rip people off but they will have no idea how to maintain or build on it (unless they spend months getting intimate with the code, at which point we'll be releasing new features). I would beware of the clones; my guess is first thing they do is try to release a Syscoin clone using a diff PoW/rewards but good luck with figuring out x11 (x13, SH3, etc.) merged mining.


Yep, was up way too late yesterday working on these numbers. Still not satisfied with them but we're getting close. We're still pursuing Moolah as an escrow provider in parallel with that work of course.


We've gotten a lot of that and I can understand- especially given whats been going on in altcoin land what with NJA's wearing VEILs cutting everybody's confidence in real developers. We have the product fully functioning right now with all 4 core features described in this preann are working and being tested heavily (been testing for months but it continues, 32+ new client commands). So development is about 98%.

You did not miss the whitepaper. I'm working on that with a teammate to get out as soon as possible. We have a lot of irons in the fire right now because we're planning the presale such that the launch follows quickly thereafter and it is a lot to coordinate. Also these features are not trivial. Testing them is very involved.

The whitepaper and the infographic are interrelated and we want to make sure everything is technically correct before we release them. We (the team) discussed the risk of copycats based on releasing the [information contained in] whitepaper and/or infographic but it would take many months for anyone to copy this based purely off that information.

Sorry I know this is just more text on an already long text post but people have questions and I want to make sure they get answers. Working hard to try to get the graphic verified, dressed and published later tonight (I'm GMT-5).

Well, this is a Pre-Ann.. Development is done, still a little bit of testing needed and fine tuning fees etc,  but it is progressing nicely.
Info graphic and white paper is pretty much finished. Just dressing them up a bit to make them look nice.

I see a lot of talk and interest here but very little in the way of an actual product.  How far along is development and when can we see something tangible. 

Also, did I miss the whitepaper?

The code is complex and is not just a copy/paste job. We have spent over 5 months working on this and fully plan to release it open source. That is the spirit of the whole crypto community and we intend to continue that line of thought.
If somebody can improve the code great!. But I doubt you will see lots of clones out there fast, it will take more than copy/paste and a few parameters changes to get this going. Never mind improving it and fixing potential issues.

And yes, most of the team will be focusing on community building and support where needed.


We will release all this info shortly. As danosphere mentioned we are still looking at the reward schedule and the max coins. More to follow very soon.

I disagree. 60% you have the investors dumping. 60% too big. 5% is fine.

5% presale is too small, price will be dump by miners quickly when it hits platform, 60% is better.

Thanks.

I have a few questions that I would like to ask.

1) How do we stop against forks from happening? It might spawn a nightmare of clones. Do you have a team that focuses on community building or will you release it, have the code audited, and once everything is good, release it as open source further on? Delayed release of source until proof of concept?

2) What is the price per coin in USD? 0.01-0.02 cents per coin is pretty favorable, 0.05 cents is a bit too much. How much funds are you looking to get? And how are you going to use the premine funds?


268,824,600 (268.9 million)
Launch date:  TBD depending on time to fully fund Presale.
Premine: 8% [5% Presale, 2% Devs, 1% Bounties and Rewards]


At 8%, that is about 21.52 million coins. At 0.01 cent per coin, that would be $215,200 which is a lot of money. With 134,500 going to the premine. More if the price per coin that you set will be higher. Just curious what the money will be for?

What will the 2% Dev money be used for. Will the funds be time locked for a year to ensure investment long term in project success and growth?

Can I expect it today?

Thank you kindly