Topic: [ANN] Syscoin- FINAL 2.0 LAUNCHED! *ENCRYPTION, MARKETPLACE, BTC INTEGRATION* - page 110. (Read 582967 times)

It's times like these, that make me dislike how common my last name is :/


But this is great news regardless

Thanks for the update. Great news!

Just saw this on reddit!!!!!!!

Hey all - just attaching a summary of today's ongoings in the Royal Courts of Justice, in the case of MooPay vs. Wasyluk (representing SYSCoin).

Unfortunately, with yesterdays post, I could not reveal 100% of the information at the time, as it's important that with all posts of this nature, we have to ensure that the information we're sharing is both accurate, and can be safely (and legally!) shared with the public; and also to ensure that no information is revealed from the plantiff's camp which Kennedy may not be aware of.

Now, moving on - the main question asked yesterday was "Why does Ryan HAVE to show up to this court case?".
This particular court date actually happened, because Ryan Kennedy demanded that SYSCoin put forward £100,000 in securities to cover any potential legal costs suffered by Ryan Kennedy. This type of request also has the additional side-effect of prolonging a case, and adding to the legal fee's of a plaintiff (due to them needing to present an argument against paying such security costs etc). It was assumed that due to the large asking price, and the evidence against Kennedy requiring such securities, that he would be present in court.
Proceedings went as follows;

• Court was presided over by His Honor, Judge Seymour.
• Ryan Kennedy failed to attend this court date. Kennedy's solicitors were present.
• The initial asking of £100,000 in securities was "laughed off" by His Honor, Judge Seymour.
• It was confirmed that Kennedy's legal case was not prepared correctly; no agenda nor list of costs were offered to justify the asking of £100,000 in securities.
• Kennedy has the right to request a 'fortification' hearing; requiring him to prepare all relevant paperwork and evidences of costs accruing £100,000 in securities.
• Kennedy's solicitors instead suggested £13,000 in securities, which was again "laughable", and further rejected by His Honor, Judge Seymour.
• Kennedy's solicitors continued to negotiate downwards; eventually settling on £4,000 in securities.
• His Honor, Judge Seymour found this amount to be "overly generous" to Kennedy, and instead lowered the required securities to £2,000.
• His Honor, Judge Seymour stated that if Kennedy maintains possession of the 750 BTC, that he is required to pay these to SYSCoin by close of business, today.
• In the case where Kennedy does not pay the aforementioned 750BTC, the case will proceed as planned.

--------------------------------------------
All in all, today's proceedings were extremely positive for SYSCoin. It is expected at this point that Kennedy will not transfer 750BTC to the SYSCoin team, due to his argument being that these coins are no longer in his possession due to a security exploit.

The victory today was in that any alleged attempts towards "draining SYSCoin of their legal funds", or any alleged "stall tactics" by requiring a very large security deposit, was quickly thrown out by the Judge; and a precedent was firmly set that the plantiffs (SYSCoin) are due their 750BTC.

With the SYS Court case, it's important to remember that this particular case is what opens the floodgates; in the event that Kennedy or MooPay Ltd is found guilty of any criminal or fraudulent action, an extremely strong basis is set for any future court cases; such as the MintPal case, or any class action case by Moolah PIE investors.

Right now however, the important part of this case is getting all the potential stall tactics, and "legal fund drain" tactics out of the way; as thankfully, once all of these avenues have been exhausted for Kennedy, the only option left is to stand trial. And in the situation where an extremely similar case (ala MintPal, PIE investors) were to appear before a judge immediately afterwards, a repeat of stall tactics simply will not fly.

All in all, the point to take from all this is that while it certainly isn't the final blow we're all waiting on, it was definitely a huge step in the right direction for the cases against Kennedy and MooPay/Moolah; and a massive step towards setting the precedent that scamming in crypto is exactly as dangerous as scamming with fiat when it comes to the courthouses.

from http://www.reddit.com/r/dogecoin/comments/2noucz/moolah_in_court_day_zero_kennedy_ordered_to_pay/

Here it is... Basically the bastard was a no-show. And his arguments were thrown out. His stalling techniques will not fly in court. This will end badly for him.

Read it all right here:

http://dogecoin-verycurrency.tumblr.com/post/103822951141/moolah-in-court-day-zero-kennedy-ordered-to-pay

Can't wait for the update !    

It was a public hearing and we've been advised not to comment, so we'll let one of the many public or reporters that attended report on what they witnessed. Sorry I can't provide anything further, just abiding by the advice from counsel.

In terms of development @JohnDorien has already verified that @sphericon's marketplace works well and another member of the team (prob me) will be working on secondary validation today, once complete the bounty will be released to him (nice work!). Mobile apps ARE on the horizon, I will check in with the whole "Apple Approvals" process today.

As mentioned before- our focus this week has been the legal case, now that we're through the hearing that occurred today (the full case is still not over) we can refocus on development efforts. We did not call the hearing today so there is no way we could have known / included it in our roadmap, it was initiated by the other party.

Def not a case of bad news that needs to be edited or anything just abiding by the advice of our legal team. There were journalists present at the hearing

Weird, I hoped to hear some good news..  Bad news usually need to be well edited.. hope thats not the case here

we would *all* like to know!

So what happened at court today?

thanks for the update from the dev team,
we have the faith for syscoin even at this hard time.

Is this true?  Could the berry picking web dev paid off?  Confidence over all is not very high at the moment evidenced by the value of the coin, but then again there's that confidence thing.  Further analysis of the trading activity dictates the coin is being evacuated by those with coin.  I do not see all, but they no doubt have been given their reasons.

Meh... Dumps sub 100's now...  So how's that foot tasting? 

come hang in #syscoin with us where having a marry time lol

Mobile wallets and this weekend!

SYS bumping up ... on the move + @ 109 satoshis

We'll amend. 

Working on the x-change for LTC/BTC/Dodge/Moneygram/WU right meow lol

Exactly, and I feel you have def earned it

Just BTC. Maybe someday I'll accept paypal, but not now.

Agreed, and with how easy it is to buy using buysomesys, I'm hoping the impulse will carry them through a sale

Thanks! I do a little work on it every day trying to improve it. It would be nice to get the bounty though, as it did motivate me to finish it quickly!

I love your site! That's a great idea to get sys out there. Now we just need to advertise it. Will you be accepting USD/EUR or just BTC?

It is nice to have your site out there. As we build out more products and services that utilize SYS, the more chance that people will see it and become interested in it as we have.

Kewl, give'em the bounty+, and integrate the code into the wallet.  Maybe we can resurrect the market price for it, or rather the confidence in this coin.