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what will happen in 5 hours? how will i receive my SYS?
Over next 2 hours or so Moolah will be e-mailing the coins. Just keep your e-mail open and wait for the e-mail. Then shortly after that you can download the wallet in a password zip file. You can find that link here. Then the password to the zip file will be released. You can find the password here. This will all happen over next 5 hours or so unless there is a delay which will be communicated by the team. |
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Hmm.. I thought in 12 min
We will "soft launch" the code August 16th @ 12pm USA/PST. At this time we will send the presale coins to Moolah for distribution and begin sending the source code to pools who have registered and been verified through our affiliate process. |
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Important Announcement:
After large-scale regression and load testing we have identified a small issue with the certificates service. Because we are intent on delivering the best product possible we will be keeping this service (certificates) on the testnet ONLY until the issue is resolved. We are working diligently on this issue now and have been up all night trying to resolve. We do not want this to impact the launch, all other services are working as expected.
We will be working throughout the day/week to address this issue and once it is verified on the testnet we will release it on the main network. We will still be launching with all 4 services, the only service that will be in "beta" mode is the certificates which will be testnet-only until its deemed suitable to move to the main network which will be as soon as possible.
As always we're looking out for the what's best for the coin, investors, and the long term stability of the network. By keeping certificate services on the testnet it will allow a larger group of people to use, test, and provide feedback which may provide us additional insight into the fix. In the meantime devs and users can start building markets, storing data, and reserving aliases while we address the issue with certificate services.
Still planning to soft launch as scheduled, apologies if I'm unreachable I'm working with the team on these issues.
tl;dr At first certificates will launch but be in test mode. That means registering as a certificate issuer and issuing stocks, bonds, ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses will be in test mode till there are no more issues. In the mean time the market place, storing data and reserving aliases will be on the main network for us to use right away. For most of us this won't be a problem as I'm sure most are just interested in price and the market place. |
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i haven't received e-mail
Only 8am-11am USA time. Still got a few hours to go before you get the e-mail. |
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when wil lthe coisn be sent out?
This afternoon USA time. how can i get my pre-sale coins?
Check the e-mail you used this afternoon USA time. Still have 9 1/2 hours till you can access the wallet. Just chill. |
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Because it's more than just wallets and how many coins they have. They mentioned they will have a simple one up at first till they finish their custom block explorer which will show more details base on everything this coin offers. |
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ok so at what block are the mining rewards kicking in?
After 8 hours. 1 minute block time. 60 x 8 = 480 Then 1 block to mine all the coins for presale. Block 481 is my best guess. |
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Anyone receive an email yet or know when they send them out?
Basically just check your e-mail in 12 hours. You will have the e-mail by then. The e-mail will go out though in the afternoon USA time. You will also be able to download the wallet then. In 12 hours and 30 minutes the password for the wallet will be released. "The QT-wallets will be in a password-protected zip file. The password will be released 30minutes after the launch at 5:30pm PST." |
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As we are now under 24 hours I'll requote this. Basically just come back here in 23 hours and you will be here just in time for everything. PLEASE TAKE THE TIME TO READ ALL OF THIS, THAT IS WHY I TOOK THE TIME TO WRITE IT. Thank you.OK things have reached fever pitch in the last 24hrs and so I wanted to answer the questions that are on everyone's mind. If you have a question I have not answered, please read the OP. For those who have not read the OP I will not repeat answering a question already answered in the OP. Fair Launch Details:- When will the wallets/source be released? - We will "soft launch" the code August 16th @ 12pm USA/PST. At this time we will send the presale coins to Moolah for distribution and begin sending the source code to pools who have registered and been verified through our affiliate process. Other pools will have to wait til the full launch to get their source code. The FULL launch will happen at 5pm USA/PST. This is to allow Moolah time to distribute the wallets, presale buyers the chance to download their keypair/wallet.dat and be ready for when we actually release the wallets binaries @ 5pm PST to the public.
The QT-wallets will be in a password-protected zip file. The password will be released 30minutes after the launch at 5:30pm PST. The first 8 hours of blocks will return a reward of fees-only in order to prevent mining between the softlaunch and the full launch and also to allow for the network to stabilize before rewards start being generated (preventing insta-mining).
- Receiving presale Syscoin - Moolah is entirely responsible for the presale coin distribution. You will receive an email to download your coins from a secure site, the coins will NOT be attached to the email. Please add "no-reply@moolah.io" to your email white-list so the email doesn't go to spam/trash accidentally.
- Exchanges - We will be on MINTPAL AND Moolah's FIAT exchanges at launch. Other exchanges to follow soon thereafter.
- Syscoin Service Fees - This is an incredibly hard issue. We had mapped out the fees but given the past 24hrs there is concern we've priced them too low- if the value of SYS goes parabolic the services will be far too expensive. For launch we are not changing this. Please remember the initial fee schedule is aimed at price discovery and there is a hard-fork in 90days at which point we will update the schedule. We are sticking with the current fee schedule because if the price does remain in the 500-1500satoshi range then we will be right where we want to be. If we try to plan on a higher price-per-sys and that is not realized it introduces a very large attack vector in that services will be too cheap. Because of this we have decided to air on the side of caution and stick with the conservative schedule. If/when the price stabilizes at some value higher than 1500 satoshi we will update the fee schedule sooner than 90days. As stated earlier this is a very hard thing to get right but we are doing everything we can to get it right. I'll post the 90day fee schedule tomorrow (need to code tonight).
- Buy Support - The team has decided to add buy support using some of the presale funds. We'll support first the phase1 price, as that stabilizes we will move support up to the phase 2 price. We won't be bidding on anything, just support and buying it up if it there are dips below those prices.
- QT Wallets - We have been working with additional devs to try and get more features into the QT wallet prior to launch rather than it all being in console. It really has been a push but they have made excellent progress and we are aiming ot have at least full interfaces in QT around offers and aliases, possibly more- we'll get in as much as we safely can. These devs may also join the full team in coming weeks after a few more deliveries.
- Mining Pools - Several mining pools have registered with use through our affiliate page, we will list them shortly so you can begin registering. If you wish to have your pool listed please register at http://syscoin.org/affiliate - the email you use must be accurate, we verify before listing.
- Block Explorer - We will use a simple ABE block explorer for launch, we don't have time to complete our new custom explorer. This [custom explorer] will roll out shortly after launch.
We are extremely busy right now and that is far and away an understatement, but things are looking pretty damn good from the code side, just trying to make more thing available in the QT interface at this point and double check everything. I have lapsed on PMs and will try to get to them later tonight. I MUST focus on code tonight. |
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Reading through the topic... what the hell. No wonder crypto is fucked up atm. Questions like: How do we get our coins . Sorry, what? It's not that you had to choose when you bought yourself some sys from the presale, right? Why did you buy at the first place? *sigh*. i bought in the first stage forgotten how to claim it. i got the email saying btc came through and coins will be given before 16th 12pm. just wanted to know how to get it. thought i chat to dev but can't find irc channel The IRC channel is just #Syscoin on freenode. Syscoin team members are in the IRC but may not always be at the computer. Other helpful people are in the channel though. |
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how do we get our coins
In 2 days check your e-mail. You will be directed to a secure site to get your wallet.dat or keypair. Then download the Syscoin wallet. Then the wallet will sync and you import your keypair or move your wallet.dat to the correct location on your computer. There will be a video showing you how to do it if you don't know how. If everyone just waits all the information you need will be released in due time. |
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Okay I'm confirmed on public ledger but no email confirmation yet.
Anyone else having the same issue?
Shoot support@moolah.io an e-mail. Not sure if it's due to the e-mail provider or if the e-mail address has something in it that their system doesn't like. I got 2 e-mails right away. 1 telling me where to deposit the bitcoins and once I sent the bitcoins I got another one saying they received the bitcoins. |
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For those who don't read back a few pages. Here is the latest. An update is coming tonight USA time. Sit tight. VERY excited that we sold out but the work is not done. The entire team has been up around the clock (almost!) working on this stuff. The launch is STILL AUGUST 16. I will post later tonight with a BUNCH more info including timelines, the release plan everything. Soon as I'm home I'll have news for everyone. Everything is still on track please just keep it together and ignore this IMMENSE FUD'ng. You should know Syscoin is better than that! The rest of the team contact me at work the FUD was getting so bad so I had to stop by and set the record straight. More news tonight!  |
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What's the point about the whales and such ? IPO is capped at 25 BTC per emails and what not ? There barely is any 25 BTC action and the IPO is coming to an end. Are we expecting someone to dump 100's of BTC in order to cause panic or what ?
FUD incoming already?
Not many orders above 15btc. A few 25btc. We can hope they hold and in the end there won't be any major sell offs. I'm sure people want to FUD and not buy into the presale in hopes people dump below 500 sat and they scoop some up and can come back and say, "I told you so." I don't get it... There are a total of 2 billion coins and the IPO price is 518 satoshi??? So, market cap is over 10,000 BTC even before launch???
I see some really good features but is it not too much to start with???
It'll take around 94 years to mine all the coins. Short term there will only be a couple hundred bitcoins worth mined at 518 sat price point. If people want Syscoin and presale buyers are not selling then the price could go up 2x or 4x or more which will make the mined coins worth over 1,000 bitcoins and will make the presale buyers and holders happy. I don't get it... There are a total of 2 billion coins and the IPO price is 518 satoshi??? So, market cap is over 10,000 BTC even before launch???
I see some really good features but is it not too much to start with???
I think too. But no alternative is now. This ipo will be very successful to dev team but investor will be not. I have invested some and expect little profit... PS. Don't calculate market cap by total supply(calculate current supply!) Anyway, big profit is impossible at this price... Yes, dev team will get a lot of bitcoins. We should see this as a good thing as they can hire the best people to help them build future features. Big profit is unlikely (short term). Most decent coins or ones that get pumped hit around a $5,000,000 market cap and stop then retrace a bit. For that Syscoin would go up 5x to 2500 sat and then retrace back down. If you wanted to see big profit then we should have bought LTC at 7 cents or BTC at $10. |
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To clarify something: Syscoin IPO investors will be importing our private key from Moolah to an existing BTC wallet, correct?
On Saturday we will be able to download the Syscoin wallet (probably password protected). Then moolah e-mails everyone and we can get the wallet.dat or keypair. The password will be released and we can access the wallet and get to our coins. |
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Everyone seems to be really excited about the launch, which is great, but let's remember that huge events rarely go perfectly. There might be some bumps and some questions. Rather than panicking, let's give the developers some time to get to our questions and answer them effectively. Also, make sure that you've read the OP because many of the questions asked are addressed there. You may want to visit Moolah again (I know I did) to remind yourself of how they are going forward with the process.
Above all, for goodness sakes, keep a steady hand and don't go to pieces if you don't know how to import your wallet or if you don't understand something. Let's behave as adults and as a strong community.
You say that but we will need to hold most peoples hands and tell them how to get the coins to an exchange to dump 2 hours after launch. Most people can't read anything longer than a tweet now a days too. People should just hold. Whales will buy your cheap coins then you will complain about it. This isn't a shitcoin like you are used to dealing with. |
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Think of this as a start up. We are the first to invest. Soon it will be time to go to work and show people that there is now a replacement for centralized commerce. If you believe in this then you will stay an investor.
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Isn't 518 satoshi way too cheap?
I mean there will only be 40 million coins after 6 months.
You got people on both sides. Some think it's too high and some too low. It all depends on how you factor in the presale numbers. If you assume most presale buyers hold and there is high demand then the price shoots up to encourage presale buyers to sell and miners to dump to meet the demand. If there are more people looking to sell and take their profit then price goes down and could come close to presale price. But looking at just mining numbers then yeah, first 6 months of mining at 518 sat is only 171btc worth. Hardly enough for all the buyers out there. So price should shoot up if presale buyers hold. You have your calc wrong. 18% of all coins are premined, and 15% will be pre-sold, means initial Sum of coins is 360M coins. 360M*0.00000518 = 1864.8 BTC = appx. 1M $ MCAP This initial price doesn't let any place for growth.... In case it is all legit it seems like a nice project but I think early investors should get a better starting point. You are correct. I did not factor in the 60,000,000 coins not in the presale but those should not be dumped right after launch. No room for growth depends on if pre sale sells out and there are still more buyers waiting to buy on an exchange. 3, 4, 5 million dollar market cap isn't impossible. Maybe not right away if there are dumpers but give the coin a month or two and who knows what will happen. Also, you have to remember this is going to be a market place and other things noted in the first post. If you hold + price goes up then you can buy more things. Why not Mintpal first? Mintpal was purchased by Moolah.
I saw on Twitter that Moolah has just started the process. They may not be far enough in the process to be able to add Syscoin to Mintpal on Saturday. So that means other exchanges besides Moolah can get a head start on some Syscoin volume. |
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