[ANN] Syscoin - Business on the Blockchain - LAUNCHED!

[kdrop22]

Following....

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[syldh]

waiting

[uray]

seriously? scrypt? scrypt PoW already dead

[sebastien1234]

seriously? scrypt? scrypt PoW already dead

I've answered this question before but I'll reconfirm it with you.

SCRYPT is FAR from dead, Litecoin is still the second coin with the most market cap today.

New coins may use a different algo and call it "innovation".

We are bringing REAL innovation to the table with 32 new command in our code. Algorithms at this point in the game is just something that people use to make it look like they are different, it is not even close to what we are doing here.

We decided to be merge-mined on SCRYPT to leverage the use of the existing SCRYPT hashing power to ensure the good-health of our coin.

We are also looking at having our version of POS, however this will be something looked at further down-the-line.

[studio1one]

Launch date?

[Korean]

Infographic coming soon as promised?

[luchodge99]

Although there is no doubt Syscoin is far beyond the algo game,Scrypt is not so miner friendly now.Those ASICs will rule the mining.

[cryptobanks]

Is the marketplace distributed or decentralized?

Posted From bitcointalk.org Android App

[sebastien1234]

Infographic coming soon as promised?

Yes, the info graphic is coming very shortly. Thanks for your interest!

[sebastien1234]

Is the marketplace distributed or decentralized?

Posted From bitcointalk.org Android App

Both! It uses distributed computing to mine and transfer data, certificates, assets, etc. It is decentralized since no one person can control it (like Bitcoin). If you are referring to the marketplace, it is directly on the Blockchain, anyone can build their own centralized or decentralized marketplace on top of the Syscoin code; an individual can sell their goods or services directly on the Blockchain, but a business can also use the Blockchain for the sale of goods or services. Developers will be able to easily include the Blockchain's code directly into their site or ecommerce platform. This in essence is why we chose the motto "Business on the Blockchain"

[qorafit]

This coin haven't launch?

[zachamo]

Question: Could a 51% attack result in a certificate / asset double-spend?

[Korean]

Infographic coming soon as promised?

Yes, the info graphic is coming very shortly. Thanks for your interest!

Can I expect it today?

Thank you kindly

[Korean]

Thanks.

I have a few questions that I would like to ask.

1) How do we stop against forks from happening? It might spawn a nightmare of clones. Do you have a team that focuses on community building or will you release it, have the code audited, and once everything is good, release it as open source further on? Delayed release of source until proof of concept?

2) What is the price per coin in USD? 0.01-0.02 cents per coin is pretty favorable, 0.05 cents is a bit too much. How much funds are you looking to get? And how are you going to use the premine funds?


268,824,600 (268.9 million)
Launch date:  TBD depending on time to fully fund Presale.
Premine: 8% [5% Presale, 2% Devs, 1% Bounties and Rewards]


At 8%, that is about 21.52 million coins. At 0.01 cent per coin, that would be $215,200 which is a lot of money. With 134,500 going to the premine. More if the price per coin that you set will be higher. Just curious what the money will be for?

What will the 2% Dev money be used for. Will the funds be time locked for a year to ensure investment long term in project success and growth?

[blackhatzw]

Thanks.

I have a few questions that I would like to ask.

1) How do we stop against forks from happening? It might spawn a nightmare of clones. Do you have a team that focuses on community building or will you release it, have the code audited, and once everything is good, release it as open source further on?

2) What is the price per coin in USD? 0.01-0.02 cents per coin is pretty favorable, 0.05 cents is a bit too much. How much funds are you looking to get? And how are you going to use the premine funds?


268,824,600 (268.9 million)
Launch date:  TBD depending on time to fully fund Presale.
Premine: 8% [5% Presale, 2% Devs, 1% Bounties and Rewards]


At 8%, that is about 21.52 million coins. At 0.01 cent per coin, that would be $215,200 which is a lot of money. With 134,500 going to the premine. More if the price per coin that you set will be higher. Just curious what the money will be for?

Independent security audits?

5% presale is too small, price will be dump by miners quickly when it hits platform, 60% is better.

[Korean]

Thanks.

I have a few questions that I would like to ask.

1) How do we stop against forks from happening? It might spawn a nightmare of clones. Do you have a team that focuses on community building or will you release it, have the code audited, and once everything is good, release it as open source further on?

2) What is the price per coin in USD? 0.01-0.02 cents per coin is pretty favorable, 0.05 cents is a bit too much. How much funds are you looking to get? And how are you going to use the premine funds?


268,824,600 (268.9 million)
Launch date:  TBD depending on time to fully fund Presale.
Premine: 8% [5% Presale, 2% Devs, 1% Bounties and Rewards]


At 8%, that is about 21.52 million coins. At 0.01 cent per coin, that would be $215,200 which is a lot of money. With 134,500 going to the premine. More if the price per coin that you set will be higher. Just curious what the money will be for?

Independent security audits?

5% presale is too small, price will be dump by miners quickly when it hits platform, 60% is better.

I disagree. 60% you have the investors dumping. 60% too big. 5% is fine.

[snipsnoop]

Thanks.

I have a few questions that I would like to ask.

1) How do we stop against forks from happening? It might spawn a nightmare of clones. Do you have a team that focuses on community building or will you release it, have the code audited, and once everything is good, release it as open source further on? Delayed release of source until proof of concept?

The code is complex and is not just a copy/paste job. We have spent over 5 months working on this and fully plan to release it open source. That is the spirit of the whole crypto community and we intend to continue that line of thought.
If somebody can improve the code great!. But I doubt you will see lots of clones out there fast, it will take more than copy/paste and a few parameters changes to get this going. Never mind improving it and fixing potential issues.

And yes, most of the team will be focusing on community building and support where needed.

2) What is the price per coin in USD? 0.01-0.02 cents per coin is pretty favorable, 0.05 cents is a bit too much. How much funds are you looking to get? And how are you going to use the premine funds?

268,824,600 (268.9 million)
Launch date:  TBD depending on time to fully fund Presale.
Premine: 8% [5% Presale, 2% Devs, 1% Bounties and Rewards]

At 8%, that is about 21.52 million coins. At 0.01 cent per coin, that would be $215,200 which is a lot of money. With 134,500 going to the premine. More if the price per coin that you set will be higher. Just curious what the money will be for?

What will the 2% Dev money be used for. Will the funds be time locked for a year to ensure investment long term in project success and growth?

We will release all this info shortly. As danosphere mentioned we are still looking at the reward schedule and the max coins. More to follow very soon.

[Azuos]

I see a lot of talk and interest here but very little in the way of an actual product.  How far along is development and when can we see something tangible. 

Also, did I miss the whitepaper?

[snipsnoop]

I see a lot of talk and interest here but very little in the way of an actual product.  How far along is development and when can we see something tangible. 

Also, did I miss the whitepaper?

Well, this is a Pre-Ann.. Development is done, still a little bit of testing needed and fine tuning fees etc,  but it is progressing nicely.
Info graphic and white paper is pretty much finished. Just dressing them up a bit to make them look nice.

[danosphere]

The code is complex and is not just a copy/paste job. We have spent over 5 months working on this and fully plan to release it open source. That is the spirit of the whole crypto community and we intend to continue that line of thought.
If somebody can improve the code great!. But I doubt you will see lots of clones out there fast, it will take more than copy/paste and a few parameters changes to get this going. Never mind improving it and fixing potential issues.

8 months but they all blur together. And yes this will be open source and no doubt people will try to clone it just to rip people off but they will have no idea how to maintain or build on it (unless they spend months getting intimate with the code, at which point we'll be releasing new features). I would beware of the clones; my guess is first thing they do is try to release a Syscoin clone using a diff PoW/rewards but good luck with figuring out x11 (x13, SH3, etc.) merged mining.

We will release all this info shortly. As danosphere mentioned we are still looking at the reward schedule and the max coins. More to follow very soon.

Yep, was up way too late yesterday working on these numbers. Still not satisfied with them but we're getting close. We're still pursuing Moolah as an escrow provider in parallel with that work of course.

I see a lot of talk and interest here but very little in the way of an actual product.  How far along is development and when can we see something tangible.  

Also, did I miss the whitepaper?

We've gotten a lot of that and I can understand- especially given whats been going on in altcoin land what with NJA's wearing VEILs cutting everybody's confidence in real developers. We have the product fully functioning right now with all 4 core features described in this preann are working and being tested heavily (been testing for months but it continues, 32+ new client commands). So development is about 98%.

You did not miss the whitepaper. I'm working on that with a teammate to get out as soon as possible. We have a lot of irons in the fire right now because we're planning the presale such that the launch follows quickly thereafter and it is a lot to coordinate. Also these features are not trivial. Testing them is very involved.

The whitepaper and the infographic are interrelated and we want to make sure everything is technically correct before we release them. We (the team) discussed the risk of copycats based on releasing the [information contained in] whitepaper and/or infographic but it would take many months for anyone to copy this based purely off that information.

Sorry I know this is just more text on an already long text post but people have questions and I want to make sure they get answers. Working hard to try to get the graphic verified, dressed and published later tonight (I'm GMT-5).