If you want to see this coin succeed it needs a lot of marketing, unique wallet features, fast confirmations times, a secure block chain without an unexpected fork, and can't be manipulated by anyone. This is my reasoning, ideas and I have no affiliations to this coin other than mining it and donating some of it back.
I really think this coin has potential, especially if Mt. Gox keeps fucking over Bitcoin. Granted he did finally resign from the board. His site magically went down because hes missing 744,408 Bitcoins. This coin has a lot of interesting features other coins do not have in regulating the supply. The auto switch to ScriptN. It has a dev who is active and has some interesting post for trolls lmao. That alone can make or break a crypto currency, for the short term
Someone earlier said you should add interest to the wallet. I personally think its a good idea if you keep it low 1-2% a year if not less. Mintcoins, 20% for the first year might come back and haunt them in the end. With the current reward highest reward block being 120, I think. There should be room in the total amount of coins, to possibly make it happen. If you wanted too. One feature that seems to be catching on is the anonymous function that Tips and a few other coins are doing. It's something to look into when you had the time, or got bored.
People are more and more worried about encryption anymore, to keep it safe from hackers or manipulation. Is it possible to add google authenticator to your wallet? Instead of one option of encrypt wallet like ever other coin? It doesn't have to be googles just any of the many authenticators out there. This feature would be a huge boost to people feeling more secure in their wallets. Just like a fast confirmation time of 10secs or less not sure what it is on syncoin with a 4 min block.
Another question is if you remember the doge fork a few weeks ago that caused their price to fall, was that bug that caused it to reject a large block in the older wallet. It was fixed in the newest wallet, so it caused a hard fork on accident. Was this problem fixed in this coin before launch? I am assuming it was don't have time to read through all the source code myself really busy with work. If it wasn't, it's better to fix that bug before it happens here and causes people to lose faith in a coin. Unexpected forks are bad for any crypto currency.
As for word of mouth, lets face it the people on these forums are the "nerds" who do this for fun, or for cash. The other type is investors who see potential in the crypto currency concept, or like the pump and dump coins for quick cash. I wouldn't call either group set really mainstream population. Most people are stupid and just follow the way Hollywood and the news go. Bitcoins became more mainstream in November when the price few up? Wasn't there national headlines in the US at least of someone accepting Bitcoins as payment for his house around that same time? Most people really do not understand much beyond one or 2 decimal places. I know there are smaller denominations for Bitcoin, but hell I barely understand their names, if you asked the average person the street what a Satoshi is they would look at you like you and say a what. If your expecting word of mouth to get this coin mainstream you have to get your head outta you ass, it wont happen. Big news articles, interesting names for the smaller demonizations. People understand Euro, Yen, Dollar, Rubbles there all simple to remember names, and most have a simple coin structure/names. When currency is traded, they have I think 3 or 4 decimals? People mostly only think of them as a 2 decimal currency. This is a sad fact, but in the US atleast if you want to get accepted and be mainstream you have to get hollywood and news on your side. Superbowl ads also does it if people find them funny, or remember them. GO DADDY case in point. Dogecoin did the fundraiser a few athletes for the Soshi games. Great simple exposures.
We might want to dream/wish that word of mouth will make this coin mainstream, but a motto I have at my own business "Wish in one hand and shit in the other and tell me which one fills up first". Wishes and dreams only can fill heads reality is you have to have a marketing campaign to drive this coin mainstream. Apps for wallets on peoples phones, secure wallets that are almost impossible to hack. Easy way to use it to pay for things, with a quick confirmation time. Make it the preferred coin to gamble with. That's what 60% of the Bitcoin market? People here shouldn't be thinking of this coin SYN/BIT it should be All coins/SYN.
To help with marketing and development of this coin have you considered creating a public wallet address where everyone can see the balance at all times? With this address programmed into every wallet as lets say community fund or coin development fund something like that, so everyone can easily donate to that address, should they so choose. Then create a foundation that controls that fund and decides how it spent and where. 9 member board so its less likely to have favoritism/corruption. 5 permanent or 4 permanent and 5 voted by the community or 4 if 5 permanent. The permanent members can be kicked off with a simple 60% vote by the other members of the board in case one goes crazy or insane. Then this group of people would be responsible for making sure this coins gets promoted/marketed. Offering rewards to help pay developments projected to help this coin grow in popularity. Plus posting all expenditures online so everyone can see what the funds were used for and when. Trust being the upmost importance.
Its been driving me nuts for years people thinking word of mouth works for crypto coins. It works for restaurants and only around where they are located. This coin is just one the first, I thought had potential after Bitcoin and litecoins. It just needs a marketing campaign behind it and more apps and development of its already unique features.
Yes, I rambled a lot, with bad grammar. You might think I am crazy (I could be) just a random person on a forum. Ignore me, all you like just thought I would bring this to peoples attention based on personal experience word of mouth only goes so far and very slowly. Great for the food industry to slow without some marketing for the crypto world.
I think it was blueangel01 post I read on another forum that said it best "4 months is 4 years in the crypto world!"
I appreciate your post. A few points, I'll go through.
"it needs a lot of marketing, unique wallet features, fast confirmations times, a secure block chain without an unexpected fork, and can't be manipulated by anyone."
> I feel you completely. Marketing is a weak point. I will admit it. Wallet features? It works, but we'll work hard to push more updates. Fast confirmation = done. No forks = done, client is hardcoded to prevent that from happening easily
"I really think this coin has potential, especially if Mt. Gox keeps fucking over Bitcoin."
> Not exactly a Bitcoin competitor, but I can see potential in that area as well
"Someone earlier said you should add interest to the wallet. I personally think its a good idea if you keep it low 1-2% a year if not less."
> I'm worried this would create widespread devaluation... I'll consult an economist this weekend
"One feature that seems to be catching on is the anonymous function that Tips and a few other coins are doing. It's something to look into when you had the time, or got bored."
> Is this the coin mixing I've been hearing about? It's a fairly complex system
"People are more and more worried about encryption anymore, to keep it safe from hackers or manipulation. Is it possible to add google authenticator to your wallet? Instead of one option of encrypt wallet like ever other coin?"
> Wallet encryption generally suffices, as long as the password is sufficiently long. Google Authenticator could be pretty easy to add, however
"Just like a fast confirmation time of 10secs or less not sure what it is on syncoin with a 4 min block."
> There are a TON of problems with super-fast confirmation times; 25 seconds is pushing it very hard -- not to mention the possibility of a 51 percent attack being way higher
"Was this problem fixed in this coin before launch? I am assuming it was don't have time to read through all the source code myself really busy with work. If it wasn't, it's better to fix that bug before it happens here and causes people to lose faith in a coin. Unexpected forks are bad for any crypto currency."
> There will only be one fork, which is the scrypt_N transition. Obviously, older blocks will be rejected (otherwise the network wouldn't transition). But that's it
"This is a sad fact, but in the US atleast if you want to get accepted and be mainstream you have to get hollywood and news on your side. Superbowl ads also does it if people find them funny, or remember them."
> I think we'll get there eventually. Right now we're focusing on using the tipbot, occasional paid Reddit ad, and word-of-mouth. Without significant investor backing, SynCoin simply cannot afford widespread publicity just yet
"Apps for wallets on peoples phones, secure wallets that are almost impossible to hack. Easy way to use it to pay for things, with a quick confirmation time. Make it the preferred coin to gamble with. That's what 60% of the Bitcoin market? People here shouldn't be thinking of this coin SYN/BIT it should be All coins/SYN."
> On one hand (no pun intended), I feel motivated. On the other, there's time constraints (unless more devs want to step forward)
"To help with marketing and development of this coin have you considered creating a public wallet address where everyone can see the balance at all times?"
> Yes, it already exists
"Then create a foundation that controls that fund and decides how it spent and where."
> I am the creator of the SynCoin Foundation
"9 member board so its less likely to have favoritism/corruption"
> I think we could potentially hold an election some time
"Then this group of people would be responsible for making sure this coins gets promoted/marketed. Offering rewards to help pay developments projected to help this coin grow in popularity."
> SynCoin has departments at the moment, but this seems a little more hierarchical -- maybe it's worth a shot
"Its been driving me nuts for years people thinking word of mouth works for crypto coins. It works for restaurants and only around where they are located. This coin is just one the first, I thought had potential after Bitcoin and litecoins. It just needs a marketing campaign behind it and more apps and development of its already unique features."
> Well, I'm glad you voiced your opinions. Know that they'll shape the coin
PS: I'm the sole developer right now. Using this video to stay on game.
https://www.youtube.com/watch?v=mgmVOuLgFB0
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