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

[realestmofo]

I am convinced most people FUDing and acting like a dumbass are on purpose so less people invest and the ones who did invest see a better return. Can't say I blame them. If only 600btc get sold in the presale then the presale price is hella good and everyone who invested will see a nice return. Carry on.

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[Winslow Strong]

Just like Martial law, no democracy lol

I wouldn't go that far, but it's certainly a type of price-fixing that benefits the devs at investors' expense.  

[danosphere]

Following your logic if devs pre-sell 0.1% of the emission - 2M coins that would be ok to sell each coin for 0.001 BTC. It's just 2000 BTC market cap, right?  

And if they sell 0.0001% of the emission - 200 coins that would be ok to sell each coin for 1 BTC. It's just 2000 BTC market cap.

You lost me... 0.1% "emission"(?) of... what exactly?

The problem here is that the price is already set, total coins to be distributed, and total BTC to be expected if all coins are sold.

It should be flexible, IPO like this should follow like what VIA did. Coin price is set by how coins are there to pre-sale divided by how many investors invested.

VIA is like: X / Y = unknown

while

Sys is like : X / Y = Z

All rules are set, no space for the market or people to suggest or what.

Just like Martial law, no democracy lol

The problem here is you're thinking this is a share-based IPO like VIA and its not. Which I feel like I've repeated about 50 times at this point. Its fixed price, presale. You don't like the price, don't buy. Simple as that. Buy it on an exchange if you feel the price is so overvalues and you'll get it cheaper elsewhere.

I'm taking a break to work on the FAQ so I can get some development done today. Then working on more development.

[HjalmarX]

im selling my investment too at 3% discount, i believe in the coin but just hurried in buying. if you can wait till launch you can buy my investment. i will be buying closer to that date. you have a opportunity to get some cheap coins

TO FUTURE INVESTORS: READ THE FULL THREAD BEFORE INVESTING

[smackii]

Yeah, the fix price is shit. At first i was excited when i see the first hour when the presale launched was there is already 75btc invested.

After 24 hours, it just doubled.

Glad my investment was held by moolah, not by the team. I still feel secured.

This is a great coin, but if the community or investors feel things are unfair, This will fail big time.

And holy shit! The items included in the pre-sale is not yet made, only concept and pictures

[triplef]

~why do people send money without checking?

basically chineese are gamblers in nature, they wont even undestand a text and send btc`s from theyr farm`s wallets ( or x11 fpga as im in conspiracy theories)

now once they google translate they said doh.. and CRY fraud / scam or anything its basically the first 2 words they learn in english.

since anything on the internet is behind a false anonimity, they can use diffamation and get away, if i was a corporation and getting fudded and defamed, i would sue, but of course they ain`t in canada/usa right ? china is such such far away lol such such water, such such wires...

you know you can sue on loss of business because of people fudding on public places right ?

i think its time for a new forum as this pos is just filled with crappy users

[danosphere]

Yeah, the fix price is shit. At first i was excited when i see the first hour when the presale launched was there is already 75btc invested.

After 24 hours, it just doubled.

Glad my investment was held by moolah, not by the team. I still feel secured.

This is a great coin, but if the community or investors feel things are unfair, This will fail big time.

And holy shit! The items included in the pre-sale is not yet made, only concept and pictures

The items in the presale (features) are made, NOT only concepts and pictures. Not sure what you mean by your statement.

~why do people send money without checking?

basically chineese are gamblers in nature, they wont even undestand a text and send btc`s from theyr farm`s wallets ( or x11 fpga as im in conspiracy theories)

now once they google translate they said doh.. and CRY fraud / scam or anything its basically the first 2 words they learn in english.

since anything on the internet is behind a false anonimity, they can use diffamation and get away, if i was a corporation and getting fudded and defamed, i would sue, but of course they ain`t in canada/usa right ? china is such such far away lol such such water, such such wires...

you know you can sue on loss of business because of people fudding on public places right ?

i think its time for a new forum as this pos is just filled with crappy users

Reading my mind.

I added a big section of red text to the OP telling people to READ EVERYTHING since that I guess wasn't clear. I have also added presale FAQ addressing the repeated questions we've been getting.

[dzarmush]

Following your logic if devs pre-sell 0.1% of the emission - 2M coins that would be ok to sell each coin for 0.001 BTC. It's just 2000 BTC market cap, right?  

And if they sell 0.0001% of the emission - 200 coins that would be ok to sell each coin for 1 BTC. It's just 2000 BTC market cap.

You lost me... 0.1% "emission"(?) of... what exactly?

The guy said that our market cap calculation is wrong. That we can't consider it as 10 000 BTC based on 1500 BTC cost of 15% of the emission. He insisted that the market cap is 1500 BTC because only 15% coins exist.

That's why I came up with my example. Let's say you only sold 0.0001% instead of 15%. With his logic it's ok to sell every coin for 1 BTC, because market cap would be only 2000 BTC.

[Len]

Following your logic if devs pre-sell 0.1% of the emission - 2M coins that would be ok to sell each coin for 0.001 BTC. It's just 2000 BTC market cap, right?  

And if they sell 0.0001% of the emission - 200 coins that would be ok to sell each coin for 1 BTC. It's just 2000 BTC market cap.

You lost me... 0.1% "emission"(?) of... what exactly?

The guy said that our market cap calculation is wrong. That we can't consider it as 10 000 BTC based on 1500 BTC cost of 15% of the emission. He insisted that the market cap is 1500 BTC because only 15% coins exist.

That's why I came up with my example. Let's say you only sold 0.0001% instead of 15%. With his logic it's ok to sell every coin for 1 BTC, because market cap would be only 2000 BTC.

explain to me why bitcoins market cap isnt 13 billion

[dzarmush]

I think the max price for 15% coins is 300 BTC. It means market cap/project valuation of Sys is 2000 BTC. There's still room for a good profit. I'd invest 1-2 btc in this case. And it's already is very risky. Everything over 300 BTC for 15% is super risky. And 1500 BTC for 15% is just pure madness.

[fastminer]

dev i think you might need to start deleting people's post who claim we have 10,000btc market cap at launch as its just clogging up the thread of this school level simple maths. im looking at it at FUD and a pretty lame attempt at it too

[HjalmarX]

I think the max price for 15% coins is 300 BTC. It means market cap/project valuation of Sys is 2000 BTC. There's still room for a good profit. I'd invest 1-2 btc in this case. And it's already is very risky. Everything over 300 BTC for 15% is super risky. And 1500 BTC for 15% is just pure madness.

that doesn't make any sense. you won't get 15% coins /300. but only 300 btc worth will be given out. u taking this risk and wont cry refund?

[realestmofo]

Hmm...well since it looks like the idea is to only mine the amount that is sold during the presale, what will this mean for the mining structure? As in, say only 150 million of the 300 million are sold, will the reward structure stay the same and the same amount of coins be mined daily as if all 300 million were sold? If that's the case, then it definitely does seem to be in the investors' best interest to not see all presale coins sold, as it would give more room for growth due to the reduced market cap and coins available for sale. But then again...if all coins aren't sold, that would imply the price was too high and it would be unlikely that price would sustain at an exchange, right? Or maybe not; just thinking aloud here...

So lets say all coins are not sold and people say, "See the price was too high! Now it will crash when it hits the market."

Then my response will be, "Why the hell did you buy into the presale then if you are just going to sell at a loss?"

Then you will say, "Because the miners!! They will mine and dump"

Lets assume the price tanks down to 400 sat because of the miners are presale investors selling at a loss. At 400 sat the miners are mining 5.89btc worth a day. Lets assume 75% of the miners mine and dump. That is 4.41btc worth being dumped a day.

I assume there will be buyers because there are buyers on shitcoins that don't have a future. So if you think you can scoop up some coin at 400 sat due to the presale buyers selling at a loss and miners selling 4btc a day worth then go ahead and wait.

[fastminer]

I think the max price for 15% coins is 300 BTC. It means market cap/project valuation of Sys is 2000 BTC. There's still room for a good profit. I'd invest 1-2 btc in this case. And it's already is very risky. Everything over 300 BTC for 15% is super risky. And 1500 BTC for 15% is just pure madness.

everyone has their individual targets. by saying project valuation is only 1.2million (2000btc) is absurd. what did crypt coin have when it hit 5million dollar market cap. look what happened to aurora coin. we have something unique plus not just words or promise on paper, dev has already been working on it. if you value that at 1.2million i feel sorry for you, how do you make money? $944,000 market cap is great i think and remember the btc is only given to dev if he delivers, so again if you value what dev has $1.2million then good luck in your investments. i see us sitting at $10million with successful adoption i hope this becomes new litecoin. beating bitcoin is not gonna be easy so one step at a time

[HjalmarX]

dev i think you might need to start deleting people's post who claim we have 10,000btc market cap at launch as its just clogging up the thread of this school level simple maths. im looking at it at FUD and a pretty lame attempt at it too

it's not fud. and that would be really shady to do. please don't delete post....that's not a good idea for transparency and many people will attack at this and this will cause more problems

if you watch episode of shark tank and how they do their valuation calculations. they are not saying that it will be a 10,000 BTC market cap.

if you think of it as a start up, the valuation based on the IPO price, 100% of the coins is 10,000 BTC...meaning that the developers think that this project in general as a start up would be worth around 6 million dollars based on the technology....

now we know 100% of the coins won't be there at launch...no way..

http://www.rocksolidfinance.com/business_valuation_sharktank/

You ought to have your calculator handy when you watch ABC’s Shark Tank, the TV show where wealthy angel investors make on-the-spot investments into small businesses.
Last night a middle-aged company owner was offered 3 deals in rapid succession.  For me, this was a simple math problem: Which offer gave the owner the best valuation?
The Offers
Every offer implies what the investor thinks your company is worth: your company’s valuation.  Valuation is not just the total amount of money an investor offers, but the total value of the company implied by that offer. (I’ll do the math for you in a second.)
So which would you chose?  The offers were as follows (you’d get what is bold, the investor receives the rest):
You get $500,000 – Investor takes 20% of the company and a 15% royalty until the investment is paid back
You get $1 million – Investor takes 30% of the company and a 10% royalty until the investment is paid back
You get $4 million  and a 10% royalty forever – Investor takes 100% of the company
The Math
To start, let’s keep the math simple.  If $500,000 is the offer for 20%, then the total valuation is $2,500,00.  That’s the cash paid divided by the percentage purchase, or $500,000 / 20% = $2,500.000.  Do this calculation with each offer, and you’ll see that the base valuations within these three offers are strikingly different:
The first values the total company at just $2.5 million.
The second, at $3.3 million.
The third … at well over the $4 million cash offer since continuing royalties could have netted him many millions more over his lifetime.  In fact, by my calculation, the third offer put the valuation at nearly $6 million.

their asking offer for us is 1500 btc at 15%, which puts the total asking valuation at 10,000 BTC. we investors use this metric to find out whether or not we agree with the project being a 6 million dollar idea, and then we invest. this is not market cap calculation at all. it's a separate calculation for us to assess value and risk

[dzarmush]

how are people valuing this at 10,000 BTC market cap. multiply coins in circulation by price. 2 billion coins do not exist yet and they will not on launch either so why are people mutliplying max coins by price. im failing to understand. BTC has 21million coins max does that its market cap right now should be 16billion dollars.

the value of a coin can only be valued at coins in existence, how can you value a coin at 10,000btc when there will not be 2billion coins on launch. its is clearly there. mac btc on ipo is 1500btc. so on launch the value of our coin will be 1500btc or less. the rest will be mined over the years. if you can't do simple maths please do not post about market caps

It actually makes sense. I guess everything depends on miners then. If they mine fast they might dump lower than IPO price. If they mine slowly they'll be selling higher.

[GTO911]

The thing is - Value comes from adoption, from people

NOT from what the dev thinks the value is

The problem here is the distribution model, the fixed price IPO. Dev thinks this is worth 1500 BTC, regardless if there is any adoption or not

[HjalmarX]

how are people valuing this at 10,000 BTC market cap. multiply coins in circulation by price. 2 billion coins do not exist yet and they will not on launch either so why are people mutliplying max coins by price. im failing to understand. BTC has 21million coins max does that its market cap right now should be 16billion dollars.

the value of a coin can only be valued at coins in existence, how can you value a coin at 10,000btc when there will not be 2billion coins on launch. its is clearly there. mac btc on ipo is 1500btc. so on launch the value of our coin will be 1500btc or less. the rest will be mined over the years. if you can't do simple maths please do not post about market caps

It actually makes sense. I guess everything depends on miners then. If they mine fast they might dump lower than IPO price. If they mine slowly they'll be selling higher.

it's a business evaluation; nothing about market cap at all. total valuation looks at to see if the IPO asking price is fair, we are not talking about future market cap. we look at the 10,000 BTC at 100% to see if this is a fair asking price.

IT IS NOT A 6 million market cap right off the batt

[dzarmush]

I think the max price for 15% coins is 300 BTC. It means market cap/project valuation of Sys is 2000 BTC. There's still room for a good profit. I'd invest 1-2 btc in this case. And it's already is very risky. Everything over 300 BTC for 15% is super risky. And 1500 BTC for 15% is just pure madness.

that doesn't make any sense. you won't get 15% coins /300. but only 300 btc worth will be given out. u taking this risk and wont cry refund?

I know IPO rules that's why I'm staying away from it. If devs agree to split 15% between investors no matter how much was invested I'll invest in it.

[jibble]

I dont think uve been in markets long enough to understand.. its understandable.

rofl , so unwilling to explain it, because it doesn't exist? so how long in crypto until i start talking illogical dumb shit?