Bitcoin Forum

I was looking at Syscoin today and their project. I like the decentralized marketplace that they are working on and also liked the consistent progress that they have been making with improvi g their project. 

I see that the market will accept Syscoin and Bitcoin and that leads to my question: Doesn't the fact that the market takes Bitcoin make an investment in Syscoin (the coin) a bad idea? Won't everyone just use Bitcoin? Where does the demand for Syscoin come from?

Please, I'm not using this thread to discuss similar projects. I'm just trying to figure out if the Syscoin coin would substantially increase in value IF the market were to become a big success.

Syscoin is indeed a very good coin. It should still increase in value but nothing is certain.

However if you are only worried about an increase in value why are you not open to discussing very similar projects that should increase even more in value. Bitbay offers very similar features and is magnitudes lower in price. If you only care about increases in value then go bitbay obviously at this point. If I was hot for decentralised market place coins right now I would go 70% bitbay 30% sys. I actually have followed my own advice on this. Time will tell.

Thanks for the response. I'm open to other coins and have gambled on several. For the purpose of this OP, I am curious as to what supply and demand pressures would cause Syscoin's value to increase given that Bitcoin is also usable on the Syscoin platform. If people can pay with Bitcoin on the Syscoin platform, is there a reason that they will need large amounts of actual Syscoin?

That's is a good question there mate, if bitcoin can be use for that merchants why needed to create more syscoin? I guess syscoin will rises the price if the coin dev will limit its production so there's a chance that the demand for using it because of much lower in transaction fee will make him more usable from that market, just saying my own thinking mate. thanks .

Well thank you for this  Info just 2 hours ago I bought 3 btc of Sys. For .000011 and sold for .000014 made a cool .75 btc in 1 hour

To ensure adoption, Bitcoin must be accepted. A few people may or may not hold Syscoin as a speculative asset, but it's main source of value, as I understood it, stems from transactions velocity.

From the price technical analyses perspective, it has a fairly low market cap, so there's more room to grow than there is to crash, which it is unlikely to do because development is earnest and active, with potential Microsoft partnerships in discussion (they are on Azure and looking to expand collaboration). I have tested the wallet market and looking forward to testing the web interface market soon. It seems to work and thus is a competition to OpenBazaar.

I thought syscoin is another scam coin but looks like the price is increase from past 1 month ago.. and now the price is high.. but i check the price right now in yobit but the price is decrease again and more dump happens..

Well, coin price performance doesn't determine whether it's a scam or not, especially this early on. Download a Syscoin wallet and buy or sell something, then you will be able to see if it works as advertised or not. I tried, looked around, I see that other people have bought stuff. So it works. It just needs to be made more convenient by making a web interface, which is on the way.

Accepting Bitcoin attracts a larger audience. Using Syscoin's services still requires a small amount of Syscoin to pay for fees (much less expensive than fees associated with hosting for Openbazaar) and does much more. The payment of those fees are what we believe will drive demand up. Using bitcoin also reduces the amount of possible dumping, if someone wants to sell their car on the marketplace, it's sale will create a huge sell pressure unless the seller wants to hold his/her coins.

if syscoin is undervalued take a look at Bitbay! - now thats were to invest if you want to make money!

very similar to Syscoin in terms of development but a lot cheaper!