Ok yep thanks that answers my question! But I have a few more now  So basicly it is a good way to easily trade your sys coins to bitcoins? Lets say you are a shop owner, and you don't want Syscoin. The Syscoin will automatically sell for bitcoins and the merchant will receive the bitcoins? And you can also receive bitcoins in your sys wallet? happy to help  Lets say you are a shop owner, and you don't want Syscoin.
The Syscoin will automatically sell for bitcoins and the merchant will receive the bitcoins?
Let's say you use price pegging- you want to sell an item for 0.5btc. When the item sells you'll receive the amount of SYS equivalent to 0.5btc based on the current market exchange rates. You will receive SYS, it is not auto converted but if you were to convert it immediately on an exchange you should be able to get 0.5btc. Pegging is based on averages across multiple exchanges, insulating the peg from a pump on any on exchange. And you can also receive bitcoins in your sys wallet?
Let's use the first example again but this time w direct BTC purchasing. You sell an item and want to receive 0.5btc for it. The buyer indicates they want to purchase via their SYS wallet and then send BITCOIN to the address for the Syscoin offer (from their bitcoin wallet, or an exchange). The merchant then checks the bitcoin blockchain to verify payment, and confirms payment receipt via their SYS wallet by clicking a confirmation button. The merchant then imports their SYS2 private key into their bitcoin wallet, and any direct bitcoin payments sent on behalf of their offers will then be available for them to spend/use/transfer. They could also import the key into their bitcoin wallet before payment is sent, so they they will see the payments arrive in realtime in their bitcoin wallet. We are looking to automate this using sidechains in the future if possible and this would also allow the use of escrow with direct BTC payments (currently escrow is only available for price-pegged or native SYS priced offers). We realize there is some friction created by having to swap between SYS and BTC wallets- we'll be looking to improve the usability there post-launch. Simply having this functionality opens up SYS markets to a huge userbase that otherwise would possibly be turned off by having to us SYS for everything and would preferred to be insulated from SYS price volatility. The important point for us was enabling this functionality to accept direct BTC payments from SYS2 launch and then make usability improvements as we see fit / as requested by users. |
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Wow awesome work. You and your Team really know what you are talking and doing about. When everything is working like you say, i can imagine that we dont see a marketcap of 1 million like right now, but a marketcap of 10 or 20 million.  btw. will there be a countdown for the beta start? Or a guid / roadmap / promotion video for the market? Thanks! We certainly try I agree that a marketcap of at least 5-8mil is entirely reasonable IMHO. We may have a countdown for the beta start or we may just release it following our appearance on Blocktalk this Sunday. We're just waiting for confirmation on the Blocktalk interview and then we'll be able to say for sure what the strategy is there- we'd like to show it off on the interview, then put it in the hand of the public! In regards to GUID/Roadmap/Videos: We had a roadmap you can check out here http://syscoin.org/roadmap although it may need some minor updates since we've just been extremely busy the past few weeks. its mostly accurate though. In terms of videos, we're working on them and will have some up with the beta release, and more polished videos for the mainnet release. Re: GUID do you mean GUI screenshots? Did you see the alpha screenshots we shared Monday? Check them out here: http://syscoin.org/syscoin-2-0-alpha-preview/So if I understand this correctly this will be implemented in the bitcoin blockchain?
Because I just purchased some syscoin and I must say this looks good.
But what exactly is going to be integrated in Bitcoin?
I think because of that, the price will go much higher on sunday then.
Not implemented in the bitcoin blockchain, but interoperable. All Syscoin offers have bitcoin compatible addresses so you can optionally accept direct BTC for you offers rather than pegged-SYS. If you use this feature the merchant simply imports the SYS2 priv key related to their offer (all offers get their own address) into their bitcoin client and the bitcoin payment will be visible- we are also keen to see how we can use sidechains to further improve how direct bitcoin payments can leverage the advanced Syscoin services such as escrow (escrow is currently not an option for direct bitcoin payments). Does that answer your question? Merchants can of course still accept BTC-pegged-to-SYS, in which case they will receive the market value amount of SYS based on exchange rates at the time the offer is purchased. In this context all the advanced SYS services are fully available (Escrow, messaging, etc). |
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Hello. I'm interested in buying SYS. What makes this a great investment? Is this similar to ethereum? I heard a lot negative things and I don't believe them to be factual. Thanks for your help.
Ethereum is definitely different than SYS- Ethereum is a ground up rewrite of bitcoin aimed at enabling smart contracts (turing complete) that run on the blockchain- a different end goal than SYS. SYS is built on top of the latest bitcoin core and adds blockchain-enabled services, the end result of which is a decentralized business platform with buying/selling goods and services complete with price pegging and reselling, encrypted messaging, escrow, aliases for ease of use, and other complimentary features. The wallet looks very good indeed. Awesome job Sys team.
I was wondering: will ever the marketplace be accessible via web browsing? I believe this could be a huge simplification for the average user.
Thank you, its been a long time in the works and we want to make it look better but enabling the functionality in-wallet was our first goal. We fully plan on releasing access to the marketplace via both web and mobile apps. For web we already have this almost complete via a project we call "Blockmarket". We need to update Blockmarket for Syscoin 2.0 but it will be ready soon after launch and it is a standalone web front end that can connect to a single marketplace on the Syscoin network or provide an "umbrella" marketplace that shows listings from multiple markets on the Syscoin network all under the same roof. This project is in addition to our eBay/Etsy integrations and ecommerce plugins. All of Syscoin 2.0's APIs are public, so while the Syscoin team will be building these things, there is nothing stopping other devs from beating us to it or building integrations for platforms we may not be targeting immediately. Are you a dev interested in leveraging this opportunity? Check out the testnet Sunday and start seeing what you can do!Hello. I'm interested in buying SYS. What makes this a great investment? Is this similar to ethereum? I heard a lot negative things and I don't believe them to be factual. Thanks for your help.
If I were to be concise and factual: team doxed itself (at a time when anon teams were the norm), has been working for free for a year, continued on even when majority of funds from ICO were stolen (by someone most the community trusted at that point). We had rewards for ICO (keychains, mugs, hats, etc) about 40% of which actually reached their destination. After ICO funds were stolen we had no reasonable way to "make this right" even though we did pursue the lost items via the Royal Mail to no avail (main negative item ppl continue to raise... they want their hats). There were some forking problems when we launched 1.0 in 2014 we fixed <3 days after launch and even refunded 50% of the ICO payment we'd received when these issues came up, sending 250btc back to the escrow provider until we'd resolved these issues (that ended up being a bad decision). Even in the face of all this we've pushed on. We investigated some alternative technical paths such as an ETH DApp but ultimately determined that route wouldn't provide us with the feature flexibility we wanted/users wanted. On the back of that we completed a series of public betas a few months ago before to deciding to update to the latest bitcoin core for the final release. That is now completed, we also now have a robust suite of unit tests (devs will appreciate this) and we're on the precipice of releasing the final public beta. One or more of the team is almost always online in our Slack, and we really strive to provide complete and transparent information about where we've been, where we're at, and where we're going. Hope to see you in our Slack, and hope this quick trip down memory lane answers some of your questions If you've any additional questions I'm happy to answer. P.S. I am a LISK supporter as well!
Me too!  I'm interested in what synergies could exist between Lisk and SYS as I'm a big NodeJS dev and Lisk is all NodeJS. Nothing concrete to report yet but I am playing with their testnet!
Things continue to move along as planned, we're very excited for what we have to share Sunday and people's feedback once they start playing with it. Please remember this is beta! If you run into bugs or problems don't stress out- just report to these to the team via Slack or GitHub and we'll prioritize and address as needed. We expect some issues to be found and we're here to fix them if that comes up. We'll have a complete document on how to go about reporting issues and problems so that the process will be clear from the start. Looking forward to kicking things off and its great to see the community so excited for the final beta! |
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Thanks very much, its been a long and bumpy road but we're here! Very much appreciate the reddit post, any upvote love from the community is also very much appreciated!wallet really does look amazing!! nice work dano
Thanks, its a team effort tho- could never pull this off myself, got an amazing team that makes this all possible.
We're planning to be on BlockTalk this Sunday at 5pm PST via Google Hangouts on Air. We're still finalizing the details and waiting for the BlockTalk team to tweet the official link/news before we advertise this more widely. I wanted to give people here a heads up in case they wanna set aside the time Sunday to tune in! If all goes to plan we'll be releasing the public beta shortly after the BlockTalk appearance. Will post the "official" link/news of the BlockTalk appearance soon. |
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when is the launch? weeks or months away?
thanks
Please consider joining our Slack channel for more timely information... Link pls? Is there an autoinviter? thx! |
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...
There is nothing right now to check about the switch, it will come with the hard fork and we will announce it loud and clear with a specific block.
And date! I encourage people to join our slack via http://join.syscoin.org (its the slack autoinviter) we're always in there talking about something or other, usually SYS plans. The community plays a large role in Syscoin's evolution. @sidhujag and I are planning on being on Blocktalk this Thursday at 10pm EST via google hangouts. We'll be pushing this news more once they tweet it and we'll retweet. etc. Tune in, we'll be talking about Syscoin 2.0, the eBay and Etsy integrations we'll be building, and the plans for the ecommerce plugins, etc after that. |
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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/702160287739195393Our internal team bandwidth to commit to this is limited, thus the bounty!  |
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In for a JS/Node based blockchain DApp platform. Grabbing testnet ASAP, lets see what this puppy can do  ! |
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edit. 197% up
Yes, time for correction. Classic loops! Keep up the good work dev |
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How do you know if you made the cut for the first day bonus?
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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.  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. 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! |
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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. |
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To be abundantly clear we don't have a partnership with eBay, nor did we state that. We are building API integrations for eBay and Etsy immediately following the Syscoin 2.0 launch. This will enable merchants on those platforms to leverage SYS to sell their goods, backup their items, or migrate their SYS store to eBay/Etsy. Once the integration is complete we will of course be directly approaching higher-ups at eBay to see if they are interested in a formal partnership. We have people in our network who will make the appropriate introductions when the time is right to see if we can scale up a relationship there. At the moment its just an integration, not a partnership.
We're also looking to connect with MS about getting Syscoin involved in Azure Cloud. More news as we have it.
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on syscoin.org there is a NO DOWNTIME text
No Downtime
Unlike some P2P implementations, items on the Syscoin Market are always online. It doesn't matter if yoru wallet is oprn or closed, your items will always be available, guaranteed by Syscoin's 100% uptime.
Pls check the spelling.
Thanks and fixed- we'll double check the rest of the copy as well We're planning on dropping the feature news we've been discussing today @ 2pm US/PST. Will have an update for everyone then! |
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scam orrrr.........  ? We needed a minimum amount of masternodes to get the network going. It will all be verified and Transparent. No need to spread Fud.. Thanks dev. This kinda honesty is why i spend time on a coin like this, set up masternodes to help support the network. Keep up the good work! |
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The blockchain syncing is taking ages, is there a bootstrap file?
There isn't yet, but I can get one together for ya. I'm prett tied up with sys2 rested work today, could I get u the bootstrap Tomm? Sure, take your time sir Thanks for your patience, I'm running my client in a debug mode (txindex=1) so im not 100% sure if this bootstrap will work without the rev*.dat files, but please give it a try. If it doesn't work I'll include the rev files: Syscoin 1.x Mainnet Blockchain Bootstrap (up to block 781566) |
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Website is back up! Will have that bootstrap file today as well.
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