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

[josephliton]

My name is Alex, I am the Founder and CEO of Moopay LTD; the organization responsible for https://moolah.io, https://mintpal.com (as of recently) and a few other subsidiary entities. I have the final authority and say in relation to what happens in regards to funds raised from the ICO. The decision with a refund lies solely with me as the primary mediator. At this stage, I would like to make it clear that we have not made a decision, and anybody stating MOOLAH SAYS NO REFUNDS, is quite frankly making stuff up.

I would like to start out by pointing out how this ICO/IPO is different. Firstly, the fact that there is a refund clause full stop is exceptionally rare. With other initial offering coins, you generally have little to no protection, and no recourse in a worst case scenario. We entered in to a partnership with Syscoin in order to provide this protection, and the fact that this protection is here, should give you some measure of comfort.

When the coin launched, it worked. It stopped working fairly early on, but the fact of the matter is that the coin was working at launch. Unlike other escrow providers that would have released then and there, we requested an inspection period which would allow us to ensure that the coin would continue to work; and in return, would provide the Syscoin team with a window of opportunity to fix any issues that may pop up. We did this to protect the people that invested in the coin, because to be blunt; the coin met obligations at launch.

However, issues rapidly appeared. These issues were critical, and resulted in the coin being moved in to an unusable state. As a result of this, we continued to monitor the situation for 48 hours - and after repeated fixes that didn't help, gave the Syscoin team an ultimatum that they had 48 hours to fix the major issues. That ultimatum expires in 3 hours, and still stands.

Our roughly checklist for when this ultimatum expires is as follows:

• At 6PM GMT, is the blockchain in a working state? DDOS attacks on the blockchain at this time will be taken in to account.
• At 6PM GMT, is the QT wallet in a functional state for the majority of users? It does not need to expose the full daemon feature set.
• At 6PM GMT, are 3 out of 4 core services available on the main net, via the daemon?
• At 6PM GMT, if all 4 services are not on the main net, is the missing service available on the testnet, via the daemon?
• Does the wallet require a full rescan on each launch? If so, is this something that can be fixed in a timely fashion?
• Can the wallet be opened without causing data corruption on each launch? If isolated issues are being reported, what is the plan for deploying a fix?

If the majority of issues have been resolved, and the remaining issues are deemed not urgent / critical (e.g. Can I send and receive coins via the QT client, and do some service stuff via the daemon, and not worry about closing my wallet for the most part) - then we will speak with the Syscoin team and request that a clear timeline and roadmap be published to the general public. We have requested that in a scenario where there are any issues, including minor remaining, that we move to a staggered release of funds - where they would receive X BTC each month in order to ensure continued development. We will not be taking the current price of the coin in to account when deciding whether or not that the ICO merits a refund. This is a risk that any investor makes, and it happens to everybody in the end.

We will not be showing bias to the Syscoin team, but we will also not be caving to the FUD being spread around be a small subset of users. Our role is mediation and arbitration, and we will exercise a neutral viewpoint in order to do this effectively.

If it was bittrex or bter then the fund would have been transferred to the Team already .

[thetruth123123]

My name is Alex, I am the Founder and CEO of Moopay LTD; the organization responsible for https://moolah.io, https://mintpal.com (as of recently) and a few other subsidiary entities. I have the final authority and say in relation to what happens in regards to funds raised from the ICO. The decision with a refund lies solely with me as the primary mediator. At this stage, I would like to make it clear that we have not made a decision, and anybody stating MOOLAH SAYS NO REFUNDS, is quite frankly making stuff up.

I would like to start out by pointing out how this ICO/IPO is different. Firstly, the fact that there is a refund clause full stop is exceptionally rare. With other initial offering coins, you generally have little to no protection, and no recourse in a worst case scenario. We entered in to a partnership with Syscoin in order to provide this protection, and the fact that this protection is here, should give you some measure of comfort.

When the coin launched, it worked. It stopped working fairly early on, but the fact of the matter is that the coin was working at launch. Unlike other escrow providers that would have released then and there, we requested an inspection period which would allow us to ensure that the coin would continue to work; and in return, would provide the Syscoin team with a window of opportunity to fix any issues that may pop up. We did this to protect the people that invested in the coin, because to be blunt; the coin met obligations at launch.

However, issues rapidly appeared. These issues were critical, and resulted in the coin being moved in to an unusable state. As a result of this, we continued to monitor the situation for 48 hours - and after repeated fixes that didn't help, gave the Syscoin team an ultimatum that they had 48 hours to fix the major issues. That ultimatum expires in 3 hours, and still stands.

Our roughly checklist for when this ultimatum expires is as follows:

• At 6PM GMT, is the blockchain in a working state? DDOS attacks on the blockchain at this time will be taken in to account.
• At 6PM GMT, is the QT wallet in a functional state for the majority of users? It does not need to expose the full daemon feature set.
• At 6PM GMT, are 3 out of 4 core services available on the main net, via the daemon?
• At 6PM GMT, if all 4 services are not on the main net, is the missing service available on the testnet, via the daemon?
• Does the wallet require a full rescan on each launch? If so, is this something that can be fixed in a timely fashion?
• Can the wallet be opened without causing data corruption on each launch? If isolated issues are being reported, what is the plan for deploying a fix?

If the majority of issues have been resolved, and the remaining issues are deemed not urgent / critical (e.g. Can I send and receive coins via the QT client, and do some service stuff via the daemon, and not worry about closing my wallet for the most part) - then we will speak with the Syscoin team and request that a clear timeline and roadmap be published to the general public. We have requested that in a scenario where there are any issues, including minor remaining, that we move to a staggered release of funds - where they would receive X BTC each month in order to ensure continued development. We will not be taking the current price of the coin in to account when deciding whether or not that the ICO merits a refund. This is a risk that any investor makes, and it happens to everybody in the end.

We will not be showing bias to the Syscoin team, but we will also not be caving to the FUD being spread around be a small subset of users. Our role is mediation and arbitration, and we will exercise a neutral viewpoint in order to do this effectively.

tl;dr No refunds.

fucking hell, they apparently don't care about their shattered reputation if they do this lol

We have over 100,000 active users on our core platform, of which 98% or so have never even heard of this ICO. We have a considerable user base on MintPal (which we recently acquired), and a general sentiment poll has shown overwhelmingly positive results.

We have continued to clearly communicate to the general public, and with any other coins, you would have been out of luck by now. If Syscoin fix the bugs that have popped up with their product since launch, we can see no legal or actual reason to process refunds. If they fail to do so, and have made a complete lack of progress, then we will have no choice but to terminate the partnership and process refunds. At this stage however, the Syscoin team has done a good job of fixing the issues that have popped up since launch.

I am tired of the day traders and usual clowns spreading their usual FUD. By all means, continue to do so - but it will have no effect. While we are showing no bias to the Syscoin team, we pay absolutely zero attention to FUD.

Does this have to be an all-or-nothing situation? I think the coin has a bright future but I'm not happy to see other investors who had no faith in the ICO are able to buy it so much cheaper than I did. Would you consider a "good faith" refund of 10% of funds invested to compensate for all these issues? Thank you.

We have already done an ICO level buy-wall refund of 250 BTC.

LOL
This is literally comedy gold.

[newuser01]

What a shitstorm. So many pussies in here.
This is crypto, no such thing as a risk free investment. Quit your fucking whining

Then why the fuck does it say so on the first post?

the scammer here is Moolah

[chromosoma]

Sorry for fud)

ARCoin conquering Wall Street right now!

Here you can see some pictures of our ladies along with some of our future investors:

http://oi59.tinypic.com/119rm9l.jpg

http://oi60.tinypic.com/29yigd0.jpg

http://oi62.tinypic.com/j5i6o2.jpg

http://oi57.tinypic.com/2uj2hqp.jpg

http://oi57.tinypic.com/t85536.jpg

http://oi57.tinypic.com/2j46csn.jpg

http://oi62.tinypic.com/mjplbr.jpg

I was hoping to see some hardcore porn, i am disappointed:((

[michaelb87]

What a shitstorm. So many pussies in here.
This is crypto, no such thing as a risk free investment. Quit your fucking whining

+111111

[Conurtrol]

My name is Alex, I am the Founder and CEO of Moopay LTD; the organization responsible for https://moolah.io, https://mintpal.com (as of recently) and a few other subsidiary entities. I have the final authority and say in relation to what happens in regards to funds raised from the ICO. The decision with a refund lies solely with me as the primary mediator. At this stage, I would like to make it clear that we have not made a decision, and anybody stating MOOLAH SAYS NO REFUNDS, is quite frankly making stuff up.

I would like to start out by pointing out how this ICO/IPO is different. Firstly, the fact that there is a refund clause full stop is exceptionally rare. With other initial offering coins, you generally have little to no protection, and no recourse in a worst case scenario. We entered in to a partnership with Syscoin in order to provide this protection, and the fact that this protection is here, should give you some measure of comfort.

When the coin launched, it worked. It stopped working fairly early on, but the fact of the matter is that the coin was working at launch. Unlike other escrow providers that would have released then and there, we requested an inspection period which would allow us to ensure that the coin would continue to work; and in return, would provide the Syscoin team with a window of opportunity to fix any issues that may pop up. We did this to protect the people that invested in the coin, because to be blunt; the coin met obligations at launch.

However, issues rapidly appeared. These issues were critical, and resulted in the coin being moved in to an unusable state. As a result of this, we continued to monitor the situation for 48 hours - and after repeated fixes that didn't help, gave the Syscoin team an ultimatum that they had 48 hours to fix the major issues. That ultimatum expires in 3 hours, and still stands.

Our roughly checklist for when this ultimatum expires is as follows:

• At 6PM GMT, is the blockchain in a working state? DDOS attacks on the blockchain at this time will be taken in to account.
• At 6PM GMT, is the QT wallet in a functional state for the majority of users? It does not need to expose the full daemon feature set.
• At 6PM GMT, are 3 out of 4 core services available on the main net, via the daemon?
• At 6PM GMT, if all 4 services are not on the main net, is the missing service available on the testnet, via the daemon?
• Does the wallet require a full rescan on each launch? If so, is this something that can be fixed in a timely fashion?
• Can the wallet be opened without causing data corruption on each launch? If isolated issues are being reported, what is the plan for deploying a fix?

If the majority of issues have been resolved, and the remaining issues are deemed not urgent / critical (e.g. Can I send and receive coins via the QT client, and do some service stuff via the daemon, and not worry about closing my wallet for the most part) - then we will speak with the Syscoin team and request that a clear timeline and roadmap be published to the general public. We have requested that in a scenario where there are any issues, including minor remaining, that we move to a staggered release of funds - where they would receive X BTC each month in order to ensure continued development. We will not be taking the current price of the coin in to account when deciding whether or not that the ICO merits a refund. This is a risk that any investor makes, and it happens to everybody in the end.

We will not be showing bias to the Syscoin team, but we will also not be caving to the FUD being spread around be a small subset of users. Our role is mediation and arbitration, and we will exercise a neutral viewpoint in order to do this effectively.

tl;dr No refunds.

fucking hell, they apparently don't care about their shattered reputation if they do this lol

We have over 100,000 active users on our core platform, of which 98% or so have never even heard of this ICO. We have a considerable user base on MintPal (which we recently acquired), and a general sentiment poll has shown overwhelmingly positive results.

We have continued to clearly communicate to the general public, and with any other coins, you would have been out of luck by now. If Syscoin fix the bugs that have popped up with their product since launch, we can see no legal or actual reason to process refunds. If they fail to do so, and have made a complete lack of progress, then we will have no choice but to terminate the partnership and process refunds. At this stage however, the Syscoin team has done a good job of fixing the issues that have popped up since launch.

I am tired of the day traders and usual clowns spreading their usual FUD. By all means, continue to do so - but it will have no effect. While we are showing no bias to the Syscoin team, we pay absolutely zero attention to FUD.

Does this have to be an all-or-nothing situation? I think the coin has a bright future but I'm not happy to see other investors who had no faith in the ICO are able to buy it so much cheaper than I did. Would you consider a "good faith" refund of 10% of funds invested to compensate for all these issues? Thank you.

We have already done an ICO level buy-wall refund of 250 BTC.

How does your 100% refund to dumpers relate to the idea of 10% to those who still have all their coins and can prove it?

[michaelb87]

My name is Alex, I am the Founder and CEO of Moopay LTD; the organization responsible for https://moolah.io, https://mintpal.com (as of recently) and a few other subsidiary entities. I have the final authority and say in relation to what happens in regards to funds raised from the ICO. The decision with a refund lies solely with me as the primary mediator. At this stage, I would like to make it clear that we have not made a decision, and anybody stating MOOLAH SAYS NO REFUNDS, is quite frankly making stuff up.

I would like to start out by pointing out how this ICO/IPO is different. Firstly, the fact that there is a refund clause full stop is exceptionally rare. With other initial offering coins, you generally have little to no protection, and no recourse in a worst case scenario. We entered in to a partnership with Syscoin in order to provide this protection, and the fact that this protection is here, should give you some measure of comfort.

When the coin launched, it worked. It stopped working fairly early on, but the fact of the matter is that the coin was working at launch. Unlike other escrow providers that would have released then and there, we requested an inspection period which would allow us to ensure that the coin would continue to work; and in return, would provide the Syscoin team with a window of opportunity to fix any issues that may pop up. We did this to protect the people that invested in the coin, because to be blunt; the coin met obligations at launch.

However, issues rapidly appeared. These issues were critical, and resulted in the coin being moved in to an unusable state. As a result of this, we continued to monitor the situation for 48 hours - and after repeated fixes that didn't help, gave the Syscoin team an ultimatum that they had 48 hours to fix the major issues. That ultimatum expires in 3 hours, and still stands.

Our roughly checklist for when this ultimatum expires is as follows:

• At 6PM GMT, is the blockchain in a working state? DDOS attacks on the blockchain at this time will be taken in to account.
• At 6PM GMT, is the QT wallet in a functional state for the majority of users? It does not need to expose the full daemon feature set.
• At 6PM GMT, are 3 out of 4 core services available on the main net, via the daemon?
• At 6PM GMT, if all 4 services are not on the main net, is the missing service available on the testnet, via the daemon?
• Does the wallet require a full rescan on each launch? If so, is this something that can be fixed in a timely fashion?
• Can the wallet be opened without causing data corruption on each launch? If isolated issues are being reported, what is the plan for deploying a fix?

If the majority of issues have been resolved, and the remaining issues are deemed not urgent / critical (e.g. Can I send and receive coins via the QT client, and do some service stuff via the daemon, and not worry about closing my wallet for the most part) - then we will speak with the Syscoin team and request that a clear timeline and roadmap be published to the general public. We have requested that in a scenario where there are any issues, including minor remaining, that we move to a staggered release of funds - where they would receive X BTC each month in order to ensure continued development. We will not be taking the current price of the coin in to account when deciding whether or not that the ICO merits a refund. This is a risk that any investor makes, and it happens to everybody in the end.

We will not be showing bias to the Syscoin team, but we will also not be caving to the FUD being spread around be a small subset of users. Our role is mediation and arbitration, and we will exercise a neutral viewpoint in order to do this effectively.

tl;dr No refunds.

fucking hell, they apparently don't care about their shattered reputation if they do this lol

We have over 100,000 active users on our core platform, of which 98% or so have never even heard of this ICO. We have a considerable user base on MintPal (which we recently acquired), and a general sentiment poll has shown overwhelmingly positive results.

We have continued to clearly communicate to the general public, and with any other coins, you would have been out of luck by now. If Syscoin fix the bugs that have popped up with their product since launch, we can see no legal or actual reason to process refunds. If they fail to do so, and have made a complete lack of progress, then we will have no choice but to terminate the partnership and process refunds. At this stage however, the Syscoin team has done a good job of fixing the issues that have popped up since launch.

I am tired of the day traders and usual clowns spreading their usual FUD. By all means, continue to do so - but it will have no effect. While we are showing no bias to the Syscoin team, we pay absolutely zero attention to FUD.

Does this have to be an all-or-nothing situation? I think the coin has a bright future but I'm not happy to see other investors who had no faith in the ICO are able to buy it so much cheaper than I did. Would you consider a "good faith" refund of 10% of funds invested to compensate for all these issues? Thank you.

We have already done an ICO level buy-wall refund of 250 BTC.

How does your 100% refund to dumpers relate to the idea of 10% to those who still have all their coins and can prove it?

bag...holder

[tom14cat14]

When the coin launched, it worked. It stopped working fairly early on, but the fact of the matter is that the coin was working at launch. Unlike other escrow providers that would have released then and there, we requested an inspection period which would allow us to ensure that the coin would continue to work; and in return, would provide the Syscoin team with a window of opportunity to fix any issues that may pop up. We did this to protect the people that invested in the coin, because to be blunt; the coin met obligations at launch.

That's like having your new car break down a block away from the dealership and the salesman telling you that IT WORKED WHEN IT STARTED!

Our obligation to you was fulfilled! The car started and moved a few meters!

Actually it would be more like buying a stock and the next day the company reports a poor earning for the quarter. Guess what you would not get a refund. You bought something as an investment not a product.

[danosphere]

DEV UPDATE

• At 6PM GMT, is the blockchain in a working state? DDOS attacks on the blockchain at this time will be taken in to account.

This issue was fixed last night and is being verified by Syscoin.me, so far this fix looks good.

• At 6PM GMT, is the QT wallet in a functional state for the majority of users? It does not need to expose the full daemon feature set.

This is also looking good, rescan fix addresses many hanging wallet issues.

• At 6PM GMT, are 3 out of 4 core services available on the main net, via the daemon?

All 4 core services are working and verified tested on the mainnet. Tested via console.

• At 6PM GMT, if all 4 services are not on the main net, is the missing service available on the testnet, via the daemon?

No missing or non functional services out of the four core.

• Does the wallet require a full rescan on each launch? If so, is this something that can be fixed in a timely fashion?

Appears fixed, waiting on confirmation.

• Can the wallet be opened without causing data corruption on each launch? If isolated issues are being reported, what is the plan for deploying a fix?

Appears fixed, waiting on confirmation.


We will post an update as soon as we have confirmation INTERNALLY at which point we'll contact pools to upgrade. And of course Moolah will independently verify all of these points.

[awais3344]

looks like there wont beany refund. sold more than alf my portfolio at a 10% loss. y'all should do the same. It was a disaster. lol

[victorteoh]

looks like there wont beany refund. sold more than alf my portfolio at a 10% loss. y'all should do the same. It was a disaster. lol

that's sad. I'm buying at 370 sats btw, if anyone wishes to dump. just go ahead.

[TheMilkman]

If Moolah decides not to refund this as promised, they reputation will be over. Guys, start taking printscreena of this. This is going to be a hit on Twitter/Reddit!

Syscoin developers seem to be greedy for their coins and still nothing price related confirmed.

Also, the coin was not properly working at launch. This is what started this disaster and now reputation of this coin is beyond repairing. Moolah, don't say that the coin was working at the beginning because I was here then and that is the only reason while I was unable to dump my coins back there.

Have some dignity.

[welchy8764]

Actually wallet kinda works.  Having to re-download the blockchain when you close and reopen a wallet isn't right.  Otherwise it just sits in the system tray and can't be accessed.

id say the wallet doesnt work.
thats not how wallets work.

WTF is this fail?!

I, like many don't have to re-download the blockchain. The amount of people with this problem is a small amount.

So if you close your wallet and reopen it, it shows up?  Not just in the system tray?

This is a 32 bit app. If you run on 64 bit platform you may need to run as administrator. Also I noticed that virus protection may stop from loading to screen.

Hope this helps

[awais3344]

looks like there wont beany refund. sold more than alf my portfolio at a 10% loss. y'all should do the same. It was a disaster. lol

that's sad. I'm buying at 370 sats btw, if anyone wishes to dump. just go ahead.

well i never risk more than10% of my investment.

[kencoles]

DEV UPDATE

• At 6PM GMT, is the blockchain in a working state? DDOS attacks on the blockchain at this time will be taken in to account.

This issue was fixed last night and is being verified by Syscoin.me, so far this fix looks good.

• At 6PM GMT, is the QT wallet in a functional state for the majority of users? It does not need to expose the full daemon feature set.

This is also looking good, rescan fix addresses many hanging wallet issues.

• At 6PM GMT, are 3 out of 4 core services available on the main net, via the daemon?

All 4 core services are working and verified tested on the mainnet. Tested via console.

• At 6PM GMT, if all 4 services are not on the main net, is the missing service available on the testnet, via the daemon?

No missing or non functional services out of the four core.

• Does the wallet require a full rescan on each launch? If so, is this something that can be fixed in a timely fashion?

Appears fixed, waiting on confirmation.

• Can the wallet be opened without causing data corruption on each launch? If isolated issues are being reported, what is the plan for deploying a fix?

Appears fixed, waiting on confirmation.


We will post an update as soon as we have confirmation INTERNALLY at which point we'll contact pools to upgrade. And of course Moolah will independently verify all of these points.

Nice .Good DEV.

[newuser01]

If Moolah decides not to refund this as promised, they reputation will be over. Guys, start taking printscreena of this. This is going to be a hit on Twitter/Reddit!

He cannot be trusted

I will never ever invest in IPO were moolah is involved

it will be a scam, just like this.

[madmartyk]

I, like many don't have to re-download the blockchain. The amount of people with this problem is a small amount.

So if you close your wallet and reopen it, it shows up?  Not just in the system tray?

Of course. I'm running it on two different Win 7 x64 boxes with no issues with needing to delete and redownload anything. I've opened and closed my wallet 100 times trying to break it to no avail. Many others have done the same. Getting ready to test it on some vista x32 and a vista x64 sitting here.

WIN7 64Bit here.  Open wallet, get splash screen, wallet icon is only is system tray.  can't open wallet.  This is the latest DLed wallet.  Sorry, to me the wallet isn't working.

[slex]

If Moolah decides not to refund this as promised, they reputation will be over. Guys, start taking printscreena of this. This is going to be a hit on Twitter/Reddit!

Syscoin developers seem to be greedy for their coins and still nothing price related confirmed.

Also, the coin was not properly working at launch. This is what started this disaster and now reputation of this coin is beyond repairing. Moolah, don't say that the coin was working at the beginning because I was here then and that is the only reason while I was unable to dump my coins back there.

Have some dignity.

We promised to do so if conditions were not met. If those conditions are met, we have no reason not to refund. Our refund decision will not be based on reputation.

The coin worked fine at the beginning, how do you think so many people actually managed to buy and sell at the start?

[TheMilkman]

If Moolah decides not to refund this as promised, they reputation will be over. Guys, start taking printscreena of this. This is going to be a hit on Twitter/Reddit!

He cannot be trusted

I will never ever invest in IPO were moolah is involved

it will be a scam, just like this.

Scam is too big of a word but definitely Moolah seems to be biased and unreliable at this point. Really disappointing!

[newuser01]

If Moolah decides not to refund this as promised, they reputation will be over. Guys, start taking printscreena of this. This is going to be a hit on Twitter/Reddit!

Syscoin developers seem to be greedy for their coins and still nothing price related confirmed.

Also, the coin was not properly working at launch. This is what started this disaster and now reputation of this coin is beyond repairing. Moolah, don't say that the coin was working at the beginning because I was here then and that is the only reason while I was unable to dump my coins back there.

Have some dignity.

We promised to do so if conditions were not met. If those conditions are met, we have no reason not to refund. Our refund decision will not be based on reputation.

The coin worked fine at the beginning, how do you think so many people actually managed to buy and sell at the start?

Conditions were not met and no refund

That is what you call a scam.