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mwheeleruk
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August 12, 2014, 08:47:28 AM |
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a quick question, what happen to unsold coins? will they be destoryed?
In the case of the presale not selling out then they will only mine enough coins to cover what was sold in the presale. Thats correct. Please read the OP in relation to any further questions  - Saves repeat clarification. |
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"In a nutshell, the network works like a distributed
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EdvinZ
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August 12, 2014, 09:54:43 AM |
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Why the price is so much coin dump?  |
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newbie123456789
Newbie
 Offline
Activity: 29
Merit: 0
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August 12, 2014, 10:02:23 AM |
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Isn't 518 satoshi way too cheap?
I mean there will only be 40 million coins after 6 months.
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peels
Newbie
Offline
Activity: 42
Merit: 0
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August 12, 2014, 10:15:02 AM |
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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. |
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S3MKi
Legendary
Offline
Activity: 1540
Merit: 1016
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August 12, 2014, 10:48:44 AM |
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i want buy boat after launch day  hold guys. |
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snipsnoop
Legendary
Offline
Activity: 924
Merit: 1000
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August 12, 2014, 10:52:43 AM |
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Yep any exchange is free to add us but we'll be on Moolah first, and when others add us SYS can be exchanged on those markets as well.
looking solid gold over here...hey i'm in a bind, could use a helping hand! ~> is there an email address i can send you a message..it's urgent!!! >> Thanks and personally i'm amazed by your achievements!!!  +keep up the good work!!! Send PM to Dano or myself and we'll try our best to help you out |
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Vandalay23
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August 12, 2014, 11:28:11 AM |
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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. |
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signingoff
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August 12, 2014, 11:41:00 AM |
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Yep any exchange is free to add us but we'll be on Moolah first, and when others add us SYS can be exchanged on those markets as well.
looking solid gold over here...hey i'm in a bind, could use a helping hand! ~> is there an email address i can send you a message..it's urgent!!! >> Thanks and personally i'm amazed by your achievements!!! +keep up the good work!!! Why not Mintpal first? Mintpal was purchased by Moolah. |
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peels
Newbie
Offline
Activity: 42
Merit: 0
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August 12, 2014, 11:46:12 AM
Last edit: August 12, 2014, 12:27:35 PM by peels |
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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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eterna156
Member
Offline
Activity: 98
Merit: 10
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August 12, 2014, 01:24:46 PM |
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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. So this is aiming for a Million dollar market cap right off the bat. Seems kinda high. I dont believe even Via was at a million when it launched, may be wrong tho. |
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kencoles
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August 12, 2014, 02:02:31 PM
Last edit: August 12, 2014, 02:13:32 PM by kencoles |
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snipsnoop
Legendary
Offline
Activity: 924
Merit: 1000
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August 12, 2014, 02:28:01 PM |
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Not a bad idea and something that is being planned alright. Just busy with other tasks atm. |
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kencoles
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August 12, 2014, 02:32:39 PM |
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Not a bad idea and something that is being planned alright. Just busy with other tasks atm. It will be nice then,don't use this one ,I just gave you one example . |
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armin22
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August 12, 2014, 04:09:51 PM |
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Reserved  |
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ciappa
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August 12, 2014, 04:45:39 PM |
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a quick question, what happen to unsold coins? will they be destoryed?
In the case of the presale not selling out then they will only mine enough coins to cover what was sold in the presale. Thats correct. Please read the OP in relation to any further questions - Saves repeat clarification. I think this coins should be distributed among the IPO investors! Still remain enough left for mining. |
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nomoreheroes7
Sr. Member
Offline
Activity: 326
Merit: 250
King of all the land
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August 12, 2014, 05:07:12 PM |
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I think this coins should be distributed among the IPO investors! Still remain enough left for mining.
Doesn't matter, looks like the IPO will sell out anyway. BTC has been coming in hot and it's only looking to increase in speed over the next few days. |
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RJF
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August 12, 2014, 05:46:49 PM |
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http://sys.0feepool.com/
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Kearney52
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August 12, 2014, 05:48:56 PM |
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this coin will be launch at 15th? very soon ..
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smackii
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August 12, 2014, 05:59:33 PM |
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After 4 months of waiting, we are finally going to see the potential of this long awaited altcoin. |
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