That's a false alarm, the miner is sometimes reported as this but its safe.
I note there is still no answer to the question of whether the exchanges will be stealing our 'old-SYS' coins at the point in time we are granted an equal number of Syscoin 2.0. Inadvertent omission? Not known? Inconvenient to answer truthfully?
If you want your old-Sys you transfer them out of the exchanges prior to the snapshot. If you don't care and just want to convert your old-Sys to Sys2 as 1:1 and want exchanges to convert for you, you can leave them on exchange and the wallet.dat will be replaced (old-Sys keys most likely lost forever).
Well, it's an answer. Thanks.
Though it seems a bit naiive. You really don't think the exchange operators will be pocketing the 'old-SYS' on the off chance it may have some future value?
We'll be communicating all of this to investors in a blog post shortly along with the final launch date. From there its their, as @sidhujag said, its up to them.
From the release:
In order to ensure proper funding for the continued development of Syscoin 2.0, the team will be allocating 15 million Syscoin for future development. These funds will be allocated from the mining schedule immediately upon launch of the new platform.
Other than announcing the insiders will be getting 15M coins, this statement is content-free. What is the exact schedule of disbursement? Will 15M new coins (of the eventual 900M) just poof into existence at the time Syscoin 2.0 goes live? Will they be in address(es) controlled solely by insiders (i.e. 'the team')? Who are these insiders?
The Dev funds will not be vested, we have plans to hire new developers immediately for new features after release. For this we need to pay them aswell as bounties that will be available to anyone who wants to work and earn Sys.
I understand that development requires effort, and effort expects renumeration. But if "The Dev funds will not be vested" is an answer to my specific questions, then I am not understanding it. Let's try again:
1) What is the exact schedule of disbursement?
2) Will 15M new coins (of the eventual 900M) just poof into existence at the time Syscoin 2.0 goes live?
3) Will they be in address(es) controlled solely by insiders (i.e. 'the team')?
4) Who are these insiders?
1. As developers we've hired complete work, they'll be paid accordingly. These funds will also go towards hosting costs, marketing costs, misc. bounties, and expenses (we are trying to speak at conferences this year).
2. As stated in the blog this is being allocated at launch of sys2 similar to a premine.
3. The team will control the development funds, just as we did with the initial fund which we made last 2 years at a rate of 1-400 satoshi.
4. They are any and all of the people who are working to build value in Syscoin for current and future investors, merchants and consumers.
Additionally the fund address will be made public. Its balance/payouts will be visible on the blockchain. Identical to the initial dev fund.