[ANN] Syscoin- FINAL 2.0 LAUNCHED! *ENCRYPTION, MARKETPLACE, BTC INTEGRATION* - page 32.

jokumat

sr. member

Activity: 249

Merit: 250

Quote from: topcat363 on February 23, 2016, 12:27:49 PM

Quote from: danosphere on February 21, 2016, 08:51:21 PM

Quote from: ?? on ??

What do you mean by "after a set time coins on the old chain cant be converted to the new one"? I thought the conversion period was indefinite?

He just means any coins mined on the SYS1 chain AFTER the snapshot cannot be imported into SYS2. It'll be extremely simple to convert your SYS1 and no time limit for those who hold as of the time we take the blockchain UTXO snapshot.

so if the screenshots are being taken tomorrow..does it mean tomorrow is the deadline to purchase sys?

No. Screenshots are not snapshots.

topcat363

sr. member

Activity: 392

Merit: 250

Quote from: danosphere on February 21, 2016, 08:51:21 PM

Quote from: ?? on ??

What do you mean by "after a set time coins on the old chain cant be converted to the new one"? I thought the conversion period was indefinite?

He just means any coins mined on the SYS1 chain AFTER the snapshot cannot be imported into SYS2. It'll be extremely simple to convert your SYS1 and no time limit for those who hold as of the time we take the blockchain UTXO snapshot.

so if the screenshots are being taken tomorrow..does it mean tomorrow is the deadline to purchase sys?

danosphere

legendary

Activity: 1036

Merit: 1001

Syscoin- Changing the way people do business.

Just posted this to twitter and wanted to share it here- In an effort to really make the Syscoin 2.0 wallet experience as aesthetically pleasing and user friendly as possible, we're looking for a QT pro to help in making changes to visual/layout aspects of the 2.0 wallet. We're offering a 1BTC bounty. If you know someone who is well versed in QT or you yourself are, please reach out to us! Thanks.

https://twitter.com/syscoin/status/702160287739195393

Our internal team bandwidth to commit to this is limited, thus the bounty! Wink

rakesh1_90

hero member

Activity: 686

Merit: 500

Fall seven times, stand up eight.

Lol, 21 mil bitcoins to be mined and 11 million already in circulation. I dont even have 0.5 percent of the it! Why the Fark are you guys PM' ing me. Stop it!

danosphere

legendary

Activity: 1036

Merit: 1001

Syscoin- Changing the way people do business.

Syscoin mentioned here, please RT

https://twitter.com/kingscrownBTC/status/701966206526476288. More coming soon! Screenshots Wednesday and public beta Sunday!

danosphere

legendary

Activity: 1036

Merit: 1001

Syscoin- Changing the way people do business.

Quote from: ?? on ??

Quote from: barabbas on February 21, 2016, 11:28:30 PM

OK, pump is done. Now what, back to below 100?

Why does everyone always think that any movement is a pump? This was more people learning about sys and money flowing into it on the back of that. Then the weak hands who have held for a while sold and the price came off a bit.

If anyone wants to sell to me at 100 sats I will buy everything you have to sell.

If anyone wants to unload at 150 sats I will gladly buy everything you have to sell. PM me. Roll Eyes

Quote from: Nightshader on February 22, 2016, 08:51:31 AM

Any demo websites available?

Not yet, we will have screenshots up Wednesday and you'll be able to demo it hands on when we release the beta on Sunday. We will also put together some video of different services in action (listing an item, buying an item, utilizing escrow, direct BTC payments, encrypted messaging) ASAP! We won't have all the video up at once, but we'll post them to our YouTube and then repost across twitter/BCT/Reddit/Slack as they're ready.

Quote from: xxxgoodgirls on February 22, 2016, 10:08:10 AM

How to get into sys's slack group?

Bookmark this URL: http://syscoin.slack.com and join via this auto-inviter: http://join.syscoin.org. Looking forward to seeing you there!

djselery

legendary

Activity: 1386

Merit: 1001

just to make sure i read this right... all coins held in exchanges will convert automatically 299 - 1 as long as the exchange updates correctly? that will look pretty interesting on the chart..

xxxgoodgirls

legendary

Activity: 1092

Merit: 1001

How to get into sys's slack group?

Nightshader

newbie

Activity: 13

Merit: 0

Any demo websites available?

axxo

hero member

Activity: 916

Merit: 500

Quote from: barabbas on February 21, 2016, 11:28:30 PM

OK, pump is done. Now what, back to below 100?

It means you should continue to buy more while waiting for the next pump.

barabbas

legendary

Activity: 1162

Merit: 1000

OK, pump is done. Now what, back to below 100?

danosphere

legendary

Activity: 1036

Merit: 1001

Syscoin- Changing the way people do business.

Quote from: ?? on ??

What do you mean by "after a set time coins on the old chain cant be converted to the new one"? I thought the conversion period was indefinite?

He just means any coins mined on the SYS1 chain AFTER the snapshot cannot be imported into SYS2. It'll be extremely simple to convert your SYS1 and no time limit for those who hold as of the time we take the blockchain UTXO snapshot.

sidhujag

legendary

Activity: 2044

Merit: 1005

Quote from: ?? on ??

What do you mean by "after a set time coins on the old chain cant be converted to the new one"? I thought the conversion period was indefinite?

We wille taking a snapshot of the utxo set of the old blockchain into the new one. You can import your keys at any time after the snapshot to claim your coins.

sidhujag

legendary

Activity: 2044

Merit: 1005

Quote from: rakesh1_90 on February 21, 2016, 07:14:01 PM

Quote from: sidhujag on February 21, 2016, 06:46:15 PM

Quote from: rakesh1_90 on February 21, 2016, 06:45:04 PM

Quote

MINING REWARD SCHEDULE AND TOTAL COINS

As communicated earlier the total coins are being reduced from 2bill (max, ever) to 6.68mil (6688630 to be exact). This means the current supply will convert at a ratio of 299.4 SYS1 to 1 SYS2. The conversion will occur by importing your SYS1 private key into your SYS2 wallet. There is no time limit for the conversion. If you coins are on exchange the conversion should happen automatically. Also Syscoin 2.0 features a new burning/inflation mechanism tied to how heavily the special Syscoin services are used, when blocks are not fully filled the fees are burned increasing scarcity, but as usage picks (and blocks fill up) up an inflation mechanism kicks in- we’ll be posting a followup blog with more details on this prior to launch. This burning/inflation mechanism was designed specifically to scale with transactions per second (TPS) so that once we achieve VISA-network level TPS the design of this mechanism will allow us to scale the Syscoin services.

Mining is also being modified in this release. In addition to switching from merge mined Scrypt algo to merge mined SHA256 (bitcoin) algorithm we’ll also be reducing the block rewards because Syscoin is constantly merge mined. The rewards will start at 8.25 coins per block and will half every 7months (314,159 blocks).

After the conversion to sys2 coins would the price on exchange be the same as it is now or would it be adjusted to the ratio of current coin supply and present price.

The market should adjust for the lack of supply

Why not pegg the coin price directly on exchanges while conversion takes place, Dont you feel thats better? The price per coin could be pegged in accordance with the current market cap. Market volatility could be avoided!

When we convert it should be offline, we could do that too, depends what the exchanges say are possible, remember that after a set time coins on the old chain cant be converted to the new one, so its better to simply stop trading and come back. Its a safe strategy.

rakesh1_90

hero member

Activity: 686

Merit: 500

Fall seven times, stand up eight.

Quote from: sidhujag on February 21, 2016, 06:46:15 PM

Quote from: rakesh1_90 on February 21, 2016, 06:45:04 PM

Quote

MINING REWARD SCHEDULE AND TOTAL COINS

As communicated earlier the total coins are being reduced from 2bill (max, ever) to 6.68mil (6688630 to be exact). This means the current supply will convert at a ratio of 299.4 SYS1 to 1 SYS2. The conversion will occur by importing your SYS1 private key into your SYS2 wallet. There is no time limit for the conversion. If you coins are on exchange the conversion should happen automatically. Also Syscoin 2.0 features a new burning/inflation mechanism tied to how heavily the special Syscoin services are used, when blocks are not fully filled the fees are burned increasing scarcity, but as usage picks (and blocks fill up) up an inflation mechanism kicks in- we’ll be posting a followup blog with more details on this prior to launch. This burning/inflation mechanism was designed specifically to scale with transactions per second (TPS) so that once we achieve VISA-network level TPS the design of this mechanism will allow us to scale the Syscoin services.

Mining is also being modified in this release. In addition to switching from merge mined Scrypt algo to merge mined SHA256 (bitcoin) algorithm we’ll also be reducing the block rewards because Syscoin is constantly merge mined. The rewards will start at 8.25 coins per block and will half every 7months (314,159 blocks).

After the conversion to sys2 coins would the price on exchange be the same as it is now or would it be adjusted to the ratio of current coin supply and present price.

The market should adjust for the lack of supply

Why not pegg the coin price directly on exchanges while conversion takes place, Dont you feel thats better? The price per coin could be pegged in accordance with the current market cap. Market volatility could be avoided!

sidhujag

legendary

Activity: 2044

Merit: 1005

Quote from: Wanderlust on February 21, 2016, 06:49:58 PM

why not just do a 1:1 conversion? why reduce the supply?

The fees were reduced to dust amounts and it ties into the inflation deflation mechanism that scales up as tps reaches above 100. Also its a service based coin so billions of coins are really not needed.

kevinjulio

hero member

Activity: 546

Merit: 500

sys volume under eth in Trex , cool

Wanderlust

full member

Activity: 225

Merit: 100

why not just do a 1:1 conversion? why reduce the supply?

sidhujag

legendary

Activity: 2044

Merit: 1005

Quote from: rakesh1_90 on February 21, 2016, 06:45:04 PM

Quote

MINING REWARD SCHEDULE AND TOTAL COINS

As communicated earlier the total coins are being reduced from 2bill (max, ever) to 6.68mil (6688630 to be exact). This means the current supply will convert at a ratio of 299.4 SYS1 to 1 SYS2. The conversion will occur by importing your SYS1 private key into your SYS2 wallet. There is no time limit for the conversion. If you coins are on exchange the conversion should happen automatically. Also Syscoin 2.0 features a new burning/inflation mechanism tied to how heavily the special Syscoin services are used, when blocks are not fully filled the fees are burned increasing scarcity, but as usage picks (and blocks fill up) up an inflation mechanism kicks in- we’ll be posting a followup blog with more details on this prior to launch. This burning/inflation mechanism was designed specifically to scale with transactions per second (TPS) so that once we achieve VISA-network level TPS the design of this mechanism will allow us to scale the Syscoin services.

Mining is also being modified in this release. In addition to switching from merge mined Scrypt algo to merge mined SHA256 (bitcoin) algorithm we’ll also be reducing the block rewards because Syscoin is constantly merge mined. The rewards will start at 8.25 coins per block and will half every 7months (314,159 blocks).

After the conversion to sys2 coins would the price on exchange be the same as it is now or would it be adjusted to the ratio of current coin supply and present price.

The market should adjust for the lack of supply

rakesh1_90

hero member

Activity: 686

Merit: 500

Fall seven times, stand up eight.

Quote

MINING REWARD SCHEDULE AND TOTAL COINS

As communicated earlier the total coins are being reduced from 2bill (max, ever) to 6.68mil (6688630 to be exact). This means the current supply will convert at a ratio of 299.4 SYS1 to 1 SYS2. The conversion will occur by importing your SYS1 private key into your SYS2 wallet. There is no time limit for the conversion. If you coins are on exchange the conversion should happen automatically. Also Syscoin 2.0 features a new burning/inflation mechanism tied to how heavily the special Syscoin services are used, when blocks are not fully filled the fees are burned increasing scarcity, but as usage picks (and blocks fill up) up an inflation mechanism kicks in- we’ll be posting a followup blog with more details on this prior to launch. This burning/inflation mechanism was designed specifically to scale with transactions per second (TPS) so that once we achieve VISA-network level TPS the design of this mechanism will allow us to scale the Syscoin services.

Mining is also being modified in this release. In addition to switching from merge mined Scrypt algo to merge mined SHA256 (bitcoin) algorithm we’ll also be reducing the block rewards because Syscoin is constantly merge mined. The rewards will start at 8.25 coins per block and will half every 7months (314,159 blocks).

After the conversion to sys2 coins would the price on exchange be the same as it is now or would it be adjusted to the ratio of current coin supply and present price.

Topic: [ANN] Syscoin- FINAL 2.0 LAUNCHED! *ENCRYPTION, MARKETPLACE, BTC INTEGRATION* - page 32. (Read 582967 times)

Topic: [ANN] Syscoin- FINAL 2.0 LAUNCHED! ENCRYPTION, MARKETPLACE, BTC INTEGRATION - page 32. (Read 582967 times)