Author

Topic: SYScoin (Read 1163 times)

sr. member
Activity: 514
Merit: 258
May 03, 2017, 05:26:37 AM
#5
People are not paying attention to the work what is really being done in Sys coin. Of course people who are in touch with them at slack and through other channels know where it is going to reach. Cryptocurrencies are hot and there is rush of investors to put more and more money in these. Syscoin show us reaching at 50k satoshi easily when all work will be completed.

Ya ok, I get that they're putting a lot of work in it, and I appreciate that... but my main question remains:
What are the advantages of putting a marketplace in a blockchain? What's the point? What are the advantages versus a centralised system like ebay (how will a blockchain compete with the efficiency a centralised system offers, how will syscoin deal with blockchainbloat, a blockchain is supposed to be immutable, a marketplace not (offers come and go...)).

Now, let's say I get a good answer to the first question, second question: why does a marketplace need its own coin? Syscoin says they will accept bitcoin and zerocash, so why do I need syscoin? I don't see ebay also accepting ebaycoin? So why sysCOIN?

So all respect to the devs, who indeed put in work, I'm totally not denying that, just fundamental question: Why put a marketplace in a blockchain, why does a marketplace need its own currency...

Thanks in advance,

best regards,
legendary
Activity: 1526
Merit: 1003
May 03, 2017, 04:39:45 AM
#4
People are not paying attention to the work what is really being done in Sys coin. Of course people who are in touch with them at slack and through other channels know where it is going to reach. Cryptocurrencies are hot and there is rush of investors to put more and more money in these. Syscoin show us reaching at 50k satoshi easily when all work will be completed.
sr. member
Activity: 1050
Merit: 295
May 03, 2017, 04:25:07 AM
#3
Looks like someone's been doing their due diligence. Need to take another critical look at their white paper
sr. member
Activity: 514
Merit: 258
May 02, 2017, 03:08:30 PM
#2
Don't know, I don't understand why one would put a market inside a blockchain... A blockchain is supposed to be immutable no? Why would a market need to be immutable? What are the advantages versus ebay or openbazaar...
I read in their white paper a transaction is about 8 times bigger than a btc-transaction? What are they gonna do about blockchainbloat? How will they avoid the blocksize-issues?
What is the emission-scheme of syscoin? How many coins will there be in existence, how many are mined already?
Why did they choose to cooperate with Zcash, an obvious scam if you ask me: trusted setup, founders reward, slow-start mining, only 95% of transactions are private or so, bugs... this doesn't bode well for their judgement...

etc. lots of questions, didn't get much answers yet in their slack...

best regards
full member
Activity: 122
Merit: 100
May 02, 2017, 01:42:33 PM
#1
Lots of updates/releases coming time, good devs and awesome projects (microsoft)

Will this coin rise to 1usd this year ?
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