Bitcoin Forum

Hi, I am restarting the BitSynq project which was abandoned by the original devs. I am hiring a cryptocurrency developer to recreate a new version of BitSynq and add the features that were not added by the original devs. But there will be a few changes to the new coin that were not in the original. First the coin supply will be 500 million instead of 50 million, second there will be a premine of 50 million instead of 21 million. The reason for the first change is to have a lower total coin supply to premine ratio so that it is more attractive and is easier to add to an exchange since some exchanges don't allow more than a 20% premine. Also the second change is do to the fact that I am going to do a 1:1 coin swap with the people who actually put money in the original ICO, a 1:1 coin swap of 1 million coins to the original coins bounty holders, a new ICO to fund this project and with that there will be an ICO of 20 million coins which will be proportionally distributed, 1 million coins for a new bounty campaign, and I will be taking 8 million of the remaining coins for putting up money initially to hire the dev and also for the fact that I am going through the trouble of getting this project started and also part of the 8 million coins will go to paying for other things for the project once the ICO funds run out and also will be put into investments to keep the fund going to pay for future expesnes. Also with the new ICO I will be putting all of the money into this project and any left over will be put into a holding account to pay for further development of the coin. If anyone is interested in investing in the new ICO for BitSynq2 then please go to our website listed below and read about the ICO further and how to invest. Thank you and I hope you all like what I am trying to do.

Website: http://bitsynq2.weebly.com/ (I know its a free website right now but I will upgrade it once the ICO starts getting funded.)

Original BitSynq thread: https://bitcointalk.org/index.php?topic=1516941.0

My contact email address: bitsynq2@gmail.com (please put BiSynq2 in the subject or I may not respond.)

Slack invite link: https://bitsynq2.herokuapp.com/

Slack: https://bitsynq2.slack.com/


AVAILABLE POSITIONS:

1. Developer
2. Graphic Designer
3. Promoters


these positions will be paid out of the ICO funds and/or the bounty campaign. Pay will be negotiable.

Hi, I am making this post to let everyone know that I was contacted by an administrator of poloniex to see if we would be interested in putting BitSynq2 onto the exchange. The administrator stated that it will cost 0.5 Bitcoin to do so and 1 Bitcoin if we were to do the ICO through them. Now I don't know if this is legit or not because I have not known of Poloniex to offer the ICO and also I didnt know they contact coin devs to see about having a coin added to their exchange. I will have to do some further research into this to make sure it's not a scam and I might just submit a support form to Poloniex to find out if this is legit or not unless some of you know whether this might be legit or a scam. If you all could please comment below to let me know your thoughts on if this is a scam or not and also if its not a scam if we should look into taking them up on the offer. Thank you.

Poloniex contact you to add bitsynq?? I really doubt about that, there are many coin who have huge marketcap, real development, real developer such as humaniq, chrono, bitbean, etc. They are better than this bitshits, but they still not listed in poloniex. It's better for you to stay away from bitshits or everyone that claim if they are poloniex admin.

Hi, I don't know if they did or if it was a scam. I'm just telling you what I recieved. But I'm going to submit a form to Poloniex to find out if it was actually them or not.

Yeah only Poloniex can confirm it. good luck with BitSynq2

Okay I just contacted Poloniex to find out. I will let you all know what their response is (if I get one lol). Also thank you for the good luck statement. Because this is going to be a big project i bet and I'm going to need it lol.

So...did you make any progress with your project?

Hi, sorry for the late response. I have been in contact with a few developers for this project but nothing has been set in stone yet. I am hoping to try to raise some money through an ICO but I know the people from the first ICO got scammed and I don't know how well another ICO would work out even though I am not going to scam like the original dev did but I still understand that a lot of people will see it as a possible scam so I don't know how I am going to raise the money but I am thinking that I will have to put it up myself and then give myself a premine to recoup the money spent to do the project.

Everyone please re-read the original post because I have edited it to reflect the new information for this project including the adding of our new but hopefully temporary website as I hope to get a better website once the ICO starts getting funded.

If what you say is true,
Then this project includes a very promising project for the future

Hi, thank you very much for your positive comment. And yes everything I am saying is true lol. I would love to see this project up and running and fully functional and I cannot wait for it to be ready and I know a lot of the original BitSynq holders probably feel the same way considering they are going to be able to get BitSynq2 just because they invested in the original and were scammed by it. But I must say that the original investors and bounty campaigners will only be receiving their initial payouts and not anything they staked afterwards since there is no way to tell their balances since from last time I checked the original BitSynq blockchain wasn't working. So I will be giving the original investors and bounty campaigners their BitSynq2 based off of the google spreadsheet from the original dev.

Thank you for the luck lol :)

Also everyone I have made a slack channel for BitSynq2 but as of right now I will need you all to email me at bitsynq2@gmail.com with the subject "Slack Invite" for me to send you an invitation to join the slack channel until I can fix the issues I am having with setting up automated invites.

Fixed price ICO - sorry not interested. As you are probably aware, there is a LOT of doubt around the future of this project because of the history, even if you are honest (which I'm not questioning). This would be a great investment opportunity if it would be an ICO where all funds will be proportionally distributed to what someone invested, because I doubt that many people will be interested (as is also indicated by the "enthusiasm" in this thread ;D ).

Offering only 4% of the max. coin supply during ICO (20M of 500M), for a total of $100,000 (40 BTC = 20M * 200sat) is also ... weird to say the least, IMO. I don't have much experience with ICOs though.

Additionally you will be taking 8M of the coins? 40% of what will be issued during ICO?

And 1M for bounties, ok. The remaining 50M - 8M - 1M = 41M will be used for swap for old coin holders? So that essentially means that the holders of a dead coin will own twice as much as new investors, even after we donated 100k USD to you.

That makes at least 3 or 4 "NOPE"s here, sorry  ;D

Hi, I see and understand your concern but the reason for this is because I don't want to make the original investors feel like they lost value because the original cost per BitSynq turned out to be 196 Satoshi each so I just rounded it to 200 Satoshi each and also I wanted to put my self as far away from the original project as I can so that meant changing the ICO process and also at the same time keeping the original investors at the same level as the new ones or even in a better position since they were the first investors. Please let me know if you have any other questions or concerns. Thank you and I hope that this response eases some of your concerns.

Also I almost forgot to mention that you stated that you would be donating this money to me and that's absolutely false. Yes I would have control over the money but it would go straight into development of the coin, operational costs such as websites, node hosting, domain hosting, future development costs for further features down the road, and anything else that may need to be done. So technically your not donating to me your just buying into the project so it's not really donating at all.

Sorry, but no it doesn't ease my concerns at all. I understand your viewpoint but this is not how it works; you will get money from new investors, not the old ones, so you need to make this attractive to the new investors. Your current ICO setup is very unattractive, at least for me (maybe someone else like it), for the reasons stated above.

You seem to be honest and I really like that you want to revive this project!  8) But this is not how it will work for me, sorry.

Okay I understand I just don't want the old investors to be upset if I do it the way you are talking about and then it turn out cheaper than the original ICO. But if I can get some more feedback from others and if they rather me do it your way then I will I just really want to make it fair and not have the original investors be paying more than the newer ones because that's not really fair in my opinion.

Hi, I just want to update everyone that I have made a poll asking if the ICO should be a set rate or proportionally distributed like Gandalf has said. I will wait until a few days or weeks to see how the poll goes and go from there. I am also going to update the website and its roadmap to reflect this. Also I want to ask if you all would be more comfortable with investing if I front the money for the initial wallet? I may have enough to do so but I will have to see but I just want to ask to see if anyone would be more willing to invest or would pledge to invest or something if I do front the money for the initial wallet setup. Thank you.

If this information is true, then I will wait for its ICO in poloniex. When will his ICO plan be accomplished? I hope this is not a fake

Hi, I found out that it was a fake. I looked up the email and the same email tried to scam other ICO projects and also I contact Poloniex to make certain and they confirmed it is a scam. But I just emailed icoo to get information about launching the ICO on there. Also my previous thought of raising only 1 Bitcoin was way off I believe even though that's all I wanted to raise because I didn't want to seem like a scam but I have come to realize that in order to make this project actually succeed I will need to raise more than that. I am hoping to try to raise at least five or ten Bitcoin so I have the funds to really make this project worth it and stand out and hopefully become a big cryptocurrency player in the markets. But from the original post on this thread I was hoping to raise more like 40 Bitcoin to have enough money to work with without cutting corners or anything and to have money for the long haul of this project. But of course we will just have to wait and see how much I can raise for the project based mainly off of what you all vote on in the threads poll about how the ICO should take place.

Is anyone still interested in this project? If so please let me know. Thank you.

Hi Dude,

I am from the old set of investors of BitSynq2. Firstly, i am interested to see this project moving ahead but as we can see here, you have a few roadblocks.

OLD INVESTOR VS NEW INVESTOR
I would agree with Gandalf86. I feel your method is a ripoff to the new investors. Firstly let's make it clear that the new investors are the ones that is going to make this new project happen. Therefore priority should be given to the new investors. IMO, a ratio of 0.75:0.25 new to old looks better for me rather than 0. Ratio 0.75 to new investors and 0.25 to old investors, and if the new investors feel 0.25 is high, then make it 0.20. But let's be a little fair to old investors like me too right?

NAME
Why do you want to use BitSynq2. I would you rather use SynqBit instead. That 2 at the end just makes it look secondhand. Almost every coin is a fork of something except a few original codes. So, come up with a different name. It creates a new aura to the whole project and easier to "revive". This does not mean forgetting its history but my question to you, why continue with the old history when it was tainted with SCAM all over it. This includes the logo. It needs a different look.

ICO
Right now we need Angel Investors to kick-start the project. Or you want to be the kick-starter?. It is fine with me if you want to be the kick-starter. But you may really need to know costing / estimated cost. You can propose that costing here and let's see who is interested to invest in this project as the Angel Investor. You may need to figure out the initial "reward" to these angel investor. A firm number needed by you and a firm number to be given to the investor. These costing includes everything from cost of developer, web hosting, exchanges. Only then we can "figure" out how much is needed and importantly who is going to hold these funds? Escrow? I see all these missing. After the first scam and all the other scams out there, there is no reason for any one to trust anyone. It should be, raise fund --> meet project objective 1 --> get fund meet project --> objective 2..

EXCHANGES
Talk to the most widely used exchangers and get their cost to list and their requirement. We need to meet these requirement so that the early investors have the opportunity to trade early if they want to. These cost must be costed inside your total ICO cost. I mean Polo, Bittrex etc.

INVESTORS
It should not be hard to find investors. There are these bounty threads, new ICO threads and signature campaigns that we can use. Need to figure out the bounty reward ratio for this marketing. It should not be hard enough. With campaigns going for 30 days, it should be not hard to pull a few new investors. There are so many ICO going on with fake products and here you are trying to revive an old with genuine intention. I dont think it will be that hard. What you need now is a community.

STRATEGY
Overall i am a little confused with your strategy, you cannot be pleasing everyone. Sometimes you need to make a firm decision and go with it. If you made a mistake, rectify it. But overall strategy from A-Z seems not right to me.

These are a few points i can contribute at the moment for now.

Hi, thank you very much for taking the time to write this up for me to look at. I agree with your points now that I look at it as far as changing the logo and name. Also I agree with your point about the new investors needing priority over the old since they would be the ones reviving the project and without them the old investors get nothing. So I have  decided to go with yours and I believe another person that commented about this advice and do the ICO as proportionally distributed. I will of course keep everything about the coin supply the same so the ICO will be for 20 million coins as previously stated but now its going to be proportionally distributed. Also I am needing to put together a team of at least one developer, one logo designer, and a few promoters. So if anyone is interested please contact me by PM on here and I am also going to post this part of the message on the original post so that everyone can see it.

Hi, I just got the BitSnq2 Slack channel to do automated invites. If you want to join just go to this link and put in your email address and it should give you the invitation. If not please let me know. Thank you. https://bitsynq2.herokuapp.com/

I think this coin is absolutely dead, but, anyway, I wish you the best luck with your project (I'm an old Bitsynq investor) so... good luck  ;D

what is the relationship among Bitsynq and BitSynq2? is there a swap?

I have bitsynq coins from ICO then I thought it was all dead, isn't it?

I am amazed by your ability to continue the devs plan. And hopefully you can develop Bitsynq well and get the people with the desired qualifications according to the intelligence in their field. God bless you.

Hi, I am planning on making BitSynq2 into a new cryptocurrency but with the same plan as the original dev had laid out for us ICO investors. And yes there will be a coin swap but it will only be for the original ICO and bounty campaign amounts and not coins staked afterwards. If you are interested in helping this project invest in the ICO and get others to invest as well since I won't be able to do much off of one small investment (unless you could do a large Investment) lol.

Hi, thank you for your support. I am glad to see some of you are interested in this and I can't wait to get the project going.

Hi, is anyone still interested in this project? If so please let me know so I can move forward with an ico so that i can cover the cost of development. I will not accept any ico funds until after the ico is over so that i know i will get enough to cover the development costs. So basically I will need for anyone interested in investing to contact me and tell me how much they will invest and I will put it on a spreadsheet and if I can accumulate enough investments from people who promise to invest the amounts they say they will then I will start to collect the funds and then get a developer started on the work.

Also keep in mind that this will be a proportionally distributed ico and NOT a fixed rate ico.

I still have my bitsynq in the wallet. the last time I open the wallet was last year. Is there something I can do? are there any nodes to sync it?

Hi, if anyone is still interested in this project please go to the Slack channel so we can discuss the future of the project. Thank you.

Dead or alive?

Well since I can't seem to get any traction for this project I suppose it's dead. But if anyone is willing to join the dev team to help make this a reality then that would be great. If your interested please message me on here. Thank you.

Well mainly team. I need to put a team together that will work for a share of the coins or share of the ICO. I don't know if you know or not but the original bitsynq founder took everyone's money and then disappeared so now I'm trying to redo the project into a second version because I like the idea of the project and i want to help the people including myself that got scammed by the original founder. I just need a good coder that will team up with me to do this.

So is it confirmed that actual Polenix contacted you to list something that is not even developed yet? :)

Hi, no that turned out to be a scam.

Why not just start an entirely new coin that isn't already sullied with a bad reputation? Even if you want to use the same technology why not rebrand the entire thing? I know I wouldn't want to be in the position of trying to appease investors of a project I wasn't responsible for.

Hi, thank you for the idea. I may decide to do like you said and just rebrand the coin mainly because I bet a lot of the investors of the original coin have most likely deleted their wallets any ways so their coins to be swapped are already gone. So it would be best to restart with a brand new name and everything. I will get started on the rebranding of the coin now and I will let you all know when its ready but I still will need to enlist the help of a developer. So anyone who is interested please let me know. I will pay in ethereum to do the job. Thank you.

Any news of your project since 3 months ?
Any others projects around the BitSynq initial project ?
Will the swap with the previous SYNQ coin be to a 1:1 ratio or more (because the bigger supply) ?