⚒ Syscoin -Blockchain Scalability, Trustless Interoperability for ERC20 projects

[sebastien1234]

One thing I'm curious about is the illegal goods. How do you keep illegal goods off of Blockmarket without a large team actively combating it?

Impossible to do & not required. Different countries have different laws, something that is defined as "illegal goods" in one country can be completely legal in another, & vice versa. Blockmarket is global & the webz does not recognize borders, so the laws of any particular country cannot be applied throughout. If something on the Blockmarket is illegal in your country, don't buy it. Unless you want to of course.

If every law from every country was applied there would be nothing to buy or sell because it would all be "illegal goods".

Understandable. I think your idea seems to be a good course of action. It just doesn't seem practical to keep a large team on something like that so hopefully leaving it up to users will be possible.

I'll repost this as I posted it earlier but want to make sure that you've read my response with regards to moderation:

It is always technically the users responsibility to follow the law, however we do have some control. Blockmarket is the front end Blockchain Foundry Inc has created as a GUI for Syscoin's decentralized marketplace. As Syscoin is completely decentralized, like Bitcoin(or cash for that matter), we have no way of preventing others from using it for illegal purposes. Blockmarket however, does give us the ability to moderate items which we have done in accordance to Canadian laws (as we are based in Canada), we continue to monitor it(and follow reports from our community) and ensure this is followed and ban users accordingly.

[sebastien1234]

On richtopia, I noticed that you guys are now #17 on the "100 most influential blockchain companies" this week and that you've increased by 5 places in just one week. Pretty big news. Especially considering Ethereum is 16! Congrats, team!

Thanks for pointing that out

We've been working hard at marketing Syscoin and our efforts are starting to show a little bit.

For those who don't know what Richtopia is, it is a company that measures the social network influence based on many algorithms.

The list that is being refered to is the "top 100 Blockchain organizations" which puts us in competition with all the major Blockchain companies (not just coins) with Coindesk obviously being ranked as #1. This ranking currently puts Syscoin as the 5th top coin for social media influence (right after Ripple, Lisk, Dash & Ethereum).

Tweet indicating we are #17; https://twitter.com/Richtopia/status/964905167962476544

Current List: https://richtopia.com/top-lists/top-100-blockchain

[IconFirm]

One thing I'm curious about is the illegal goods. How do you keep illegal goods off of Blockmarket without a large team actively combating it?

Impossible to do & not required. Different countries have different laws, something that is defined as "illegal goods" in one country can be completely legal in another, & vice versa. Blockmarket is global & the webz does not recognize borders, so the laws of any particular country cannot be applied throughout. If something on the Blockmarket is illegal in your country, don't buy it. Unless you want to of course.

If every law from every country was applied there would be nothing to buy or sell because it would all be "illegal goods".

Understandable. I think your idea seems to be a good course of action. It just doesn't seem practical to keep a large team on something like that so hopefully leaving it up to users will be possible.

I'll repost this as I posted it earlier but want to make sure that you've read my response with regards to moderation:

It is always technically the users responsibility to follow the law, however we do have some control. Blockmarket is the front end Blockchain Foundry Inc has created as a GUI for Syscoin's decentralized marketplace. As Syscoin is completely decentralized, like Bitcoin(or cash for that matter), we have no way of preventing others from using it for illegal purposes. Blockmarket however, does give us the ability to moderate items which we have done in accordance to Canadian laws (as we are based in Canada), we continue to monitor it(and follow reports from our community) and ensure this is followed and ban users accordingly.

Does this mean that anything on the market that is deemed illegal in Canada will be removed/moderated?

[sebastien1234]

I'm interested in learning more about blockmarket. I don't understand what the benefit of using crypto is. What makes blockmarket a better alternative than Ebay or Amazon?

Ebay, Amazon, Aliexpress, etc are all completely centralized marketplaces. There are many restrictions, merchants in the developing world have a very hard time dealing directly with the rest of the world. The fees are really pricy with centralized marketplaces: Ebay: 10% of the total sale + Paypal : 3% = 13%. Amazon charges 15% with a $1 minimum. 13-15% on the total sale (not the total profit) destroys most businesses acceptable margins, so the the big players are favored since they have more buying power and can afford the cut.

Blockmarket costs pennies and will be even less in our next core release.

Not everything can be sold (not just illegal goods and Blockmarket doesn't have any), I can buy a Lamborghini on Blockmarket, but I cannot on Amazon.

Now Blockmarket is just one usecase (albeit a very important one), Syscoin's protocol is built and maintained with business in mind, that can be useful in much more than just e-commerce.

Hi,
Amazon, for instance, offers buys a high level of protection and an excellent returns policy should it be needed. What will Blockmarket offer buyers in the way of protection?

Sorry to repeat this but its a real world question.
As a buyer, why would I use Blockmarket over say Amazon or even Gumtree? With Gumtree, I can look for local items and inspect before purchase and it has no fees.
I have invested in Blockmarket but would like to hear your ideas on how you are going to encourage buyers to use Blockmarket.

No worries at all, I'm doing my best to answer questions in order and was just getting to your question.

By using Blockmarket, merchants will save a considerable amount in fees which will be passed on to the consumer. The 15% cuts they take is enough to cripple most new businesses, so not only will the merchants save a considerable amount of money but many more merchants will now be able to do business when they couldn't previously due to low margins. Short-term, the benefit is with the merchant but in the long-run, these are all huge benefits that will also directly impact the consumer.

Gumtree(I've only vaguely browsed it) & Craigslist are really not comparable, they are classifieds services. Syscoin is more comparable to Ebay/Amazon/Etsy, etc, Syscoin provides an escrow service to ensure that both parties received what they agreed to.

[sebastien1234]

One thing I'm curious about is the illegal goods. How do you keep illegal goods off of Blockmarket without a large team actively combating it?

Impossible to do & not required. Different countries have different laws, something that is defined as "illegal goods" in one country can be completely legal in another, & vice versa. Blockmarket is global & the webz does not recognize borders, so the laws of any particular country cannot be applied throughout. If something on the Blockmarket is illegal in your country, don't buy it. Unless you want to of course.

If every law from every country was applied there would be nothing to buy or sell because it would all be "illegal goods".

Understandable. I think your idea seems to be a good course of action. It just doesn't seem practical to keep a large team on something like that so hopefully leaving it up to users will be possible.

I'll repost this as I posted it earlier but want to make sure that you've read my response with regards to moderation:

It is always technically the users responsibility to follow the law, however we do have some control. Blockmarket is the front end Blockchain Foundry Inc has created as a GUI for Syscoin's decentralized marketplace. As Syscoin is completely decentralized, like Bitcoin(or cash for that matter), we have no way of preventing others from using it for illegal purposes. Blockmarket however, does give us the ability to moderate items which we have done in accordance to Canadian laws (as we are based in Canada), we continue to monitor it(and follow reports from our community) and ensure this is followed and ban users accordingly.

Does this mean that anything on the market that is deemed illegal in Canada will be removed/moderated?

Anything on Blockmarket, yes. Syscoin has a built-in-to-the-blockchain decentralized marketplace without Blockmarket and that is impossible to moderate as it is fully decentralized.

[IconFirm]

Does this mean that anything on the market that is deemed illegal in Canada will be removed/moderated?

Anything on Blockmarket, yes. Syscoin has a built-in-to-the-blockchain decentralized marketplace without Blockmarket and that is impossible to moderate as it is fully decentralized.

Hmmmm. Correct me if I'm wrong, but doesn't that mean that anyone who wishes to buy/sell something on Blockmarket would need to acquaint themselves with Canadian laws in order to ensure that they're not breaking any of them & risking getting moderated/banned?

[classicsucks]

One thing I'm curious about is the illegal goods. How do you keep illegal goods off of Blockmarket without a large team actively combating it?

Impossible to do & not required. Different countries have different laws, something that is defined as "illegal goods" in one country can be completely legal in another, & vice versa. Blockmarket is global & the webz does not recognize borders, so the laws of any particular country cannot be applied throughout. If something on the Blockmarket is illegal in your country, don't buy it. Unless you want to of course.

If every law from every country was applied there would be nothing to buy or sell because it would all be "illegal goods".

Understandable. I think your idea seems to be a good course of action. It just doesn't seem practical to keep a large team on something like that so hopefully leaving it up to users will be possible.

I'll repost this as I posted it earlier but want to make sure that you've read my response with regards to moderation:

It is always technically the users responsibility to follow the law, however we do have some control. Blockmarket is the front end Blockchain Foundry Inc has created as a GUI for Syscoin's decentralized marketplace. As Syscoin is completely decentralized, like Bitcoin(or cash for that matter), we have no way of preventing others from using it for illegal purposes. Blockmarket however, does give us the ability to moderate items which we have done in accordance to Canadian laws (as we are based in Canada), we continue to monitor it(and follow reports from our community) and ensure this is followed and ban users accordingly.

Does this mean that anything on the market that is deemed illegal in Canada will be removed/moderated?

Anything on Blockmarket, yes. Syscoin has a built-in-to-the-blockchain decentralized marketplace without Blockmarket and that is impossible to moderate as it is fully decentralized.

This could become a sticky subject, as clearly Blockchain Foundry does not want their market being used for illegal purposes. They could be exposed to legal liability, and people selling drugs and other things would reflect poorly on the company. Unfortunately, black market buyers and sellers could very well be attracted to this decentralized market idea, as they would benefit from the inability to shut down the market. Finally, there are likely to be grey market issues such as trade restrictions or ambiguous import/export laws.

On the flip side, Blockchain Foundry could get bad press for banning too many users, especially if the bans could result in loss of funds. If they have the ability to ban users, couldn't they also confiscate funds and/or freeze accounts? It's a tough question. Perhaps the Blockmarket app could have different listings from an alternate market implementation?

I'm confident these things could be resolved but there definitely need to be some careful considerations.

[sebastien1234]

One thing I'm curious about is the illegal goods. How do you keep illegal goods off of Blockmarket without a large team actively combating it?

Impossible to do & not required. Different countries have different laws, something that is defined as "illegal goods" in one country can be completely legal in another, & vice versa. Blockmarket is global & the webz does not recognize borders, so the laws of any particular country cannot be applied throughout. If something on the Blockmarket is illegal in your country, don't buy it. Unless you want to of course.

If every law from every country was applied there would be nothing to buy or sell because it would all be "illegal goods".

Understandable. I think your idea seems to be a good course of action. It just doesn't seem practical to keep a large team on something like that so hopefully leaving it up to users will be possible.

I'll repost this as I posted it earlier but want to make sure that you've read my response with regards to moderation:

It is always technically the users responsibility to follow the law, however we do have some control. Blockmarket is the front end Blockchain Foundry Inc has created as a GUI for Syscoin's decentralized marketplace. As Syscoin is completely decentralized, like Bitcoin(or cash for that matter), we have no way of preventing others from using it for illegal purposes. Blockmarket however, does give us the ability to moderate items which we have done in accordance to Canadian laws (as we are based in Canada), we continue to monitor it(and follow reports from our community) and ensure this is followed and ban users accordingly.

Does this mean that anything on the market that is deemed illegal in Canada will be removed/moderated?

Anything on Blockmarket, yes. Syscoin has a built-in-to-the-blockchain decentralized marketplace without Blockmarket and that is impossible to moderate as it is fully decentralized.

This could become a sticky subject, as clearly Blockchain Foundry does not want their market being used for illegal purposes. They could be exposed to legal liability, and people selling drugs and other things would reflect poorly on the company. Unfortunately, black market buyers and sellers could very well be attracted to this decentralized market idea, as they would benefit from the inability to shut down the market. Finally, there are likely to be grey market issues such as trade restrictions or ambiguous import/export laws.

On the flip side, Blockchain Foundry could get bad press for banning too many users, especially if the bans could result in loss of funds. If they have the ability to ban users, couldn't they also confiscate funds and/or freeze accounts? It's a tough question. Perhaps the Blockmarket app could have different listings from an alternate market implementation?

I'm confident these things could be resolved but there definitely need to be some careful considerations.

The issue you are stating is really the same one as for Bitcoin or Fiat. We have not built a UI for dark markets and we promote the fact that we will remove anything that is illegal (on Blockmarket), anyone can certainly create their own dark market but they would need to create a centralized website that harnesses the decentralized features of Syscoin, just like the Silk road did with Bitcoin (sure, developers get more tools than with Bitcoin but the responsability is still on them.

[sebastien1234]

Does this mean that anything on the market that is deemed illegal in Canada will be removed/moderated?

Anything on Blockmarket, yes. Syscoin has a built-in-to-the-blockchain decentralized marketplace without Blockmarket and that is impossible to moderate as it is fully decentralized.

Hmmmm. Correct me if I'm wrong, but doesn't that mean that anyone who wishes to buy/sell something on Blockmarket would need to acquaint themselves with Canadian laws in order to ensure that they're not breaking any of them & risking getting moderated/banned?

Technically yes (this may be revised in the future), there are obviously limits as to what we can moderate and the escrow service should be able to fill in for many issues (IE: We cannot verify if someone is selling a genuine/legal copy of software, however, if the buyer chose an arbiter to secure their trade, then the buyer can complain if it isn't legitimate.)

[joblessminer]

One thing I'm curious about is the illegal goods. How do you keep illegal goods off of Blockmarket without a large team actively combating it?

Impossible to do & not required. Different countries have different laws, something that is defined as "illegal goods" in one country can be completely legal in another, & vice versa. Blockmarket is global & the webz does not recognize borders, so the laws of any particular country cannot be applied throughout. If something on the Blockmarket is illegal in your country, don't buy it. Unless you want to of course.

If every law from every country was applied there would be nothing to buy or sell because it would all be "illegal goods".

Understandable. I think your idea seems to be a good course of action. It just doesn't seem practical to keep a large team on something like that so hopefully leaving it up to users will be possible.

I'll repost this as I posted it earlier but want to make sure that you've read my response with regards to moderation:

It is always technically the users responsibility to follow the law, however we do have some control. Blockmarket is the front end Blockchain Foundry Inc has created as a GUI for Syscoin's decentralized marketplace. As Syscoin is completely decentralized, like Bitcoin(or cash for that matter), we have no way of preventing others from using it for illegal purposes. Blockmarket however, does give us the ability to moderate items which we have done in accordance to Canadian laws (as we are based in Canada), we continue to monitor it(and follow reports from our community) and ensure this is followed and ban users accordingly.

Does this mean that anything on the market that is deemed illegal in Canada will be removed/moderated?

Anything on Blockmarket, yes. Syscoin has a built-in-to-the-blockchain decentralized marketplace without Blockmarket and that is impossible to moderate as it is fully decentralized.

That answers my question about Blockmarket and is pretty neat. That was how I had imagined it, but I wanted to double check. Thanks!

[Sword555]

One thing I'm curious about is the illegal goods. How do you keep illegal goods off of Blockmarket without a large team actively combating it?

Impossible to do & not required. Different countries have different laws, something that is defined as "illegal goods" in one country can be completely legal in another, & vice versa. Blockmarket is global & the webz does not recognize borders, so the laws of any particular country cannot be applied throughout. If something on the Blockmarket is illegal in your country, don't buy it. Unless you want to of course.

If every law from every country was applied there would be nothing to buy or sell because it would all be "illegal goods".

Understandable. I think your idea seems to be a good course of action. It just doesn't seem practical to keep a large team on something like that so hopefully leaving it up to users will be possible.

I'll repost this as I posted it earlier but want to make sure that you've read my response with regards to moderation:

It is always technically the users responsibility to follow the law, however we do have some control. Blockmarket is the front end Blockchain Foundry Inc has created as a GUI for Syscoin's decentralized marketplace. As Syscoin is completely decentralized, like Bitcoin(or cash for that matter), we have no way of preventing others from using it for illegal purposes. Blockmarket however, does give us the ability to moderate items which we have done in accordance to Canadian laws (as we are based in Canada), we continue to monitor it(and follow reports from our community) and ensure this is followed and ban users accordingly.

Does this mean that anything on the market that is deemed illegal in Canada will be removed/moderated?

Anything on Blockmarket, yes. Syscoin has a built-in-to-the-blockchain decentralized marketplace without Blockmarket and that is impossible to moderate as it is fully decentralized.

This could become a sticky subject, as clearly Blockchain Foundry does not want their market being used for illegal purposes. They could be exposed to legal liability, and people selling drugs and other things would reflect poorly on the company. Unfortunately, black market buyers and sellers could very well be attracted to this decentralized market idea, as they would benefit from the inability to shut down the market. Finally, there are likely to be grey market issues such as trade restrictions or ambiguous import/export laws.

On the flip side, Blockchain Foundry could get bad press for banning too many users, especially if the bans could result in loss of funds. If they have the ability to ban users, couldn't they also confiscate funds and/or freeze accounts? It's a tough question. Perhaps the Blockmarket app could have different listings from an alternate market implementation?

I'm confident these things could be resolved but there definitely need to be some careful considerations.

The issue you are stating is really the same one as for Bitcoin or Fiat. We have not built a UI for dark markets and we promote the fact that we will remove anything that is illegal (on Blockmarket), anyone can certainly create their own dark market but they would need to create a centralized website that harnesses the decentralized features of Syscoin, just like the Silk road did with Bitcoin (sure, developers get more tools than with Bitcoin but the responsability is still on them.

Having the ability to make your own store off the blockmarket using their API could be a great way to circumvent the whole liability aspect. If it's out of your control, what could the courts expect you to do about it? That's like holding the computer manufacturer liable for internet crimes. You gave someone the tool, but you can't control everyone's actions.

[IconFirm]

Does this mean that anything on the market that is deemed illegal in Canada will be removed/moderated?

Anything on Blockmarket, yes. Syscoin has a built-in-to-the-blockchain decentralized marketplace without Blockmarket and that is impossible to moderate as it is fully decentralized.

Hmmmm. Correct me if I'm wrong, but doesn't that mean that anyone who wishes to buy/sell something on Blockmarket would need to acquaint themselves with Canadian laws in order to ensure that they're not breaking any of them & risking getting moderated/banned?

Technically yes (this may be revised in the future)......

I would urge a revision of this sooner rather than later.The chances of the whole world either knowing or familiarizing themselves with Canadian law are practically zero & will severely limit it's global appeal. As a long term Syscoin user I'm disappointed to learn of this tbh, but at least the Syscoin market place holds true to it's decentralized unregulated ideals. I fear that a Canadian company operating out of Canada that is restricted/operating under Canadian law will only really appeal to Canadians, but I hope I'm wrong.

Edit: At least it's not under US laws......

[GoBelle]

One thing I'm curious about is the illegal goods. How do you keep illegal goods off of Blockmarket without a large team actively combating it?

Impossible to do & not required. Different countries have different laws, something that is defined as "illegal goods" in one country can be completely legal in another, & vice versa. Blockmarket is global & the webz does not recognize borders, so the laws of any particular country cannot be applied throughout. If something on the Blockmarket is illegal in your country, don't buy it. Unless you want to of course.

If every law from every country was applied there would be nothing to buy or sell because it would all be "illegal goods".

Understandable. I think your idea seems to be a good course of action. It just doesn't seem practical to keep a large team on something like that so hopefully leaving it up to users will be possible.

I'll repost this as I posted it earlier but want to make sure that you've read my response with regards to moderation:

It is always technically the users responsibility to follow the law, however we do have some control. Blockmarket is the front end Blockchain Foundry Inc has created as a GUI for Syscoin's decentralized marketplace. As Syscoin is completely decentralized, like Bitcoin(or cash for that matter), we have no way of preventing others from using it for illegal purposes. Blockmarket however, does give us the ability to moderate items which we have done in accordance to Canadian laws (as we are based in Canada), we continue to monitor it(and follow reports from our community) and ensure this is followed and ban users accordingly.

Does this mean that anything on the market that is deemed illegal in Canada will be removed/moderated?

Anything on Blockmarket, yes. Syscoin has a built-in-to-the-blockchain decentralized marketplace without Blockmarket and that is impossible to moderate as it is fully decentralized.

This could become a sticky subject, as clearly Blockchain Foundry does not want their market being used for illegal purposes. They could be exposed to legal liability, and people selling drugs and other things would reflect poorly on the company. Unfortunately, black market buyers and sellers could very well be attracted to this decentralized market idea, as they would benefit from the inability to shut down the market. Finally, there are likely to be grey market issues such as trade restrictions or ambiguous import/export laws.

On the flip side, Blockchain Foundry could get bad press for banning too many users, especially if the bans could result in loss of funds. If they have the ability to ban users, couldn't they also confiscate funds and/or freeze accounts? It's a tough question. Perhaps the Blockmarket app could have different listings from an alternate market implementation?

I'm confident these things could be resolved but there definitely need to be some careful considerations.

The issue you are stating is really the same one as for Bitcoin or Fiat. We have not built a UI for dark markets and we promote the fact that we will remove anything that is illegal (on Blockmarket), anyone can certainly create their own dark market but they would need to create a centralized website that harnesses the decentralized features of Syscoin, just like the Silk road did with Bitcoin (sure, developers get more tools than with Bitcoin but the responsability is still on them.

Having the ability to make your own store off the blockmarket using their API could be a great way to circumvent the whole liability aspect. If it's out of your control, what could the courts expect you to do about it? That's like holding the computer manufacturer liable for internet crimes. You gave someone the tool, but you can't control everyone's actions.

I think that it is great that the team will be removing illegal items on Blockmarket but will allow anyone the ability to use the API as well. I'm happy to see the team has already looked into this and created a good solution for everyone.

[IconFirm]

I think that it is great that the team will be removing illegal items on Blockmarket...

Illegal where? Canada? Pakistan? Russia? You're missing the point.

[Fishmox]

I'm interested in learning more about blockmarket. I don't understand what the benefit of using crypto is. What makes blockmarket a better alternative than Ebay or Amazon?

Ebay, Amazon, Aliexpress, etc are all completely centralized marketplaces. There are many restrictions, merchants in the developing world have a very hard time dealing directly with the rest of the world. The fees are really pricy with centralized marketplaces: Ebay: 10% of the total sale + Paypal : 3% = 13%. Amazon charges 15% with a $1 minimum. 13-15% on the total sale (not the total profit) destroys most businesses acceptable margins, so the the big players are favored since they have more buying power and can afford the cut.

Blockmarket costs pennies and will be even less in our next core release.

Not everything can be sold (not just illegal goods and Blockmarket doesn't have any), I can buy a Lamborghini on Blockmarket, but I cannot on Amazon.

Now Blockmarket is just one usecase (albeit a very important one), Syscoin's protocol is built and maintained with business in mind, that can be useful in much more than just e-commerce.

Hi,
Amazon, for instance, offers buys a high level of protection and an excellent returns policy should it be needed. What will Blockmarket offer buyers in the way of protection?

Sorry to repeat this but its a real world question.
As a buyer, why would I use Blockmarket over say Amazon or even Gumtree? With Gumtree, I can look for local items and inspect before purchase and it has no fees.
I have invested in Blockmarket but would like to hear your ideas on how you are going to encourage buyers to use Blockmarket.

No worries at all, I'm doing my best to answer questions in order and was just getting to your question.

By using Blockmarket, merchants will save a considerable amount in fees which will be passed on to the consumer. The 15% cuts they take is enough to cripple most new businesses, so not only will the merchants save a considerable amount of money but many more merchants will now be able to do business when they couldn't previously due to low margins. Short-term, the benefit is with the merchant but in the long-run, these are all huge benefits that will also directly impact the consumer.

Gumtree(I've only vaguely browsed it) & Craigslist are really not comparable, they are classifieds services. Syscoin is more comparable to Ebay/Amazon/Etsy, etc, Syscoin provides an escrow service to ensure that both parties received what they agreed to.

Thanks

[bitgov]

How looks the situation of masternodes in testnet? Do you think that we will see them working later this month?

[ThepowerofD]

How many coins for masternode?

[DragonETH]

How many coins for masternode?

I'll ask in addition
how many coins syscoin are in circulation now and how many coins syscoin will be in circulation?

[krazyx]

How many coins for masternode?

I'll ask in addition
how many coins syscoin are in circulation now and how many coins syscoin will be in circulation?

You need 100 000 SYS to run a masternode.
There you can find information about the coins number :

https://coinmarketcap.com/currencies/syscoin/

[ophyrim]

Thanks to master node implementation SYS is very strong at the moment on the market. There is also a positive effect of Safe Exchange Coin (SAFEX) which is not at the Bittrex anymore. I am following SYS to buy cheaper but I don't think it will be possible at these days