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

[kro55]

Don't download the wallet from somebody else's except devs!

kro55, don't take it personally, but today in the another thread some member (or full member - I don't remember) share the wallet with trojan.

Are you in dev team? If not why you are speaks like one of them. Let people to make decision by themself.

You can alway scan it first before install. Please come one people start to think and use your brain. If you like to stay with broken wallet than use brain, download, scan by antyvirus and than make decision if clean than install - it is your buisness.

[Jedelqu]

We have now reached the deadline for the ultimatum we previously issued to the Syscoin team, and while we are entering in to a review period; we have made the following preliminary decision (that is subject to change).

Our preliminary decision is that we will not be refunding the coin, but with the agreement of the Syscoin development team, will be changing release and development schedules moving forward. This decision will either be confirmed (or rejected and modified) publicly at 6PM GMT on Tuesday 26th August, 2014. While we could make the decision in full now (which would be to not refund), this review period will also include us engaging with various members of the community, over the best course of action to take. Please do not scream FUD at us, engage with us constructively.

While the launch of the coin was fraught with issues, the coin still launched. It worked at first, albeit erratically - and before the blockchain and daemon encountered severe issues, was in a usable state. This was not the case for everybody, but it was the case for many. At this stage, because initial obligations were met, we moved in to the inspection period (originally intended to last 72 hours). During this period, the coin encountered a number of major issues and became non-usable very rapidly.

As a result of this, and general public opinion, we issued a deadline-based ultimatum to the Syscoin team in regards to steps that need to be taken in order to ensure that funds would be released. If they took no action or made no progress, then they wouldn't be seeing a single satoshi. If they made good progress, we would re-review. We are now at the end of the ultimatum window, and we have made an initial judgement based on what the developers of the coin have done, and what they are continuing to do.

However, we are not comfortable to release the funds in full to the developers at this stage, and have put the following agreement to the Syscoin team. We are putting, and will be putting our own resources on the line in order to help protect the supporters of the coin, and encourage general adoption of this. I personally have faith in this coin, despite the abysmal launch - though this did not play a part in my decision.

Clause 1
Staggered release of funds.

The escrowed funds will not be released in full. They will be released in 6 monthly payments. The first payment will be for 250 BTC once this agreement is made formal, and then there will be an additional 200 BTC released each month for the next five months. At the end of this period, the Syscoin accrued during the early buy walls, will also be released. Release each month will be subject to the developers actively working on the coin, and making good progress in any necessary areas (to be determined on a monthly basis).

Clause 2
Moolah to support developers.

Moopay LTD will provide the Syscoin development team with access to our team of developers, for assistance with development issues, for a period of 6 months. Help will be given on a best-effort basis, with priority help granted for urgent issues.

Clause 3
Moolah to guarantee continued development.

If the developers decide to bail in full, and abandon development of the coin before this agreement is up; then Moopay LTD will supply a minimum of 3 developers to continue work on the coin - until the end of the agreement window. Moopay LTD will then continue to supply developers until adequate external contributors can be found. Moopay LTD will guarantee priority 24/7 response to urgent issues, and best-effort response to all other cases. This includes fixing broken services, the QT wallet, and blockchain issues. We will also seek to expand upon the coin when there are no issues. Moopay LTD will also always make a developer available for urgent issues, regardless of contributor state, for a minimum of 18 months from the time this agreement is made formal.

Our (now expanded) development team has experiencing in working for Microsoft, Citigroup, Telefonica and more - and each and every member has substantial experience in crypto development (including daemon and reference client work).

Reasonable .Happy now.  

[r1d1]

I am newbie here, what is mean "tl;dr"?

Ok, I found it "tl;dr" is "Too long; didn't read".

Alex, this is the best text, probably, that it was possible to come up with, thanks.
I seriously.
I hope the developers will accept it without resentment.
It is better for the Syscoin.

50 BTC buy wall on ~355.

Edit: wall disappeared.

[Beachguy]

The funny thing is the demographic for Sys, i.e people who actually want to do REAL business on the blockchain, not children playing around on their last day of summer break with their allowance money, do not give a damn if it didn't work on day 1 just so long as it works period. A week of hiccups is nothing compared to years of profit ahead.

/\/\/\ This.....

SysCoin could be the Visa Card of the future.

[sdmathis]

I still think the dev time should get paid in full. But obviously that won't happen it appears. This coin will do OK once things are back up and running normally.

They will as long as they sick around.

[danosphere]

DEV UPDATE:

- We have fixed the requires issues and pools are updating now.

- We are agreeable to Moolah's terms and will be releasing a more detailed statement later today.

- We are building the new wallets now. THEY ARE NOT YET AVAILABLE FOR DOWNLOAD.

You can pull from git master branch if you know how to build yourself. Latest version if 0.1.3, no fork required.

[josephliton]

This coin will be awesome for sure.Thank  you Alex again .

[darioc]

We have now reached the deadline for the ultimatum we previously issued to the Syscoin team, and while we are entering in to a review period; we have made the following preliminary decision (that is subject to change).

Our preliminary decision is that we will not be refunding the coin, but with the agreement of the Syscoin development team, will be changing release and development schedules moving forward. This decision will either be confirmed (or rejected and modified) publicly at 6PM GMT on Tuesday 26th August, 2014. While we could make the decision in full now (which would be to not refund), this review period will also include us engaging with various members of the community, over the best course of action to take. Please do not scream FUD at us, engage with us constructively.

While the launch of the coin was fraught with issues, the coin still launched. It worked at first, albeit erratically - and before the blockchain and daemon encountered severe issues, was in a usable state. This was not the case for everybody, but it was the case for many. At this stage, because initial obligations were met, we moved in to the inspection period (originally intended to last 72 hours). During this period, the coin encountered a number of major issues and became non-usable very rapidly.

As a result of this, and general public opinion, we issued a deadline-based ultimatum to the Syscoin team in regards to steps that need to be taken in order to ensure that funds would be released. If they took no action or made no progress, then they wouldn't be seeing a single satoshi. If they made good progress, we would re-review. We are now at the end of the ultimatum window, and we have made an initial judgement based on what the developers of the coin have done, and what they are continuing to do.

However, we are not comfortable to release the funds in full to the developers at this stage, and have put the following agreement to the Syscoin team. We are putting, and will be putting our own resources on the line in order to help protect the supporters of the coin, and encourage general adoption of this. I personally have faith in this coin, despite the abysmal launch - though this did not play a part in my decision.

Clause 1
Staggered release of funds.

The escrowed funds will not be released in full. They will be released in 6 monthly payments. The first payment will be for 250 BTC once this agreement is made formal, and then there will be an additional 200 BTC released each month for the next five months. At the end of this period, the Syscoin accrued during the early buy walls, will also be released. Release each month will be subject to the developers actively working on the coin, and making good progress in any necessary areas (to be determined on a monthly basis).

Clause 2
Moolah to support developers.

Moopay LTD will provide the Syscoin development team with access to our team of developers, for assistance with development issues, for a period of 6 months. Help will be given on a best-effort basis, with priority help granted for urgent issues.

Clause 3
Moolah to guarantee continued development.

If the developers decide to bail in full, and abandon development of the coin before this agreement is up; then Moopay LTD will supply a minimum of 3 developers to continue work on the coin - until the end of the agreement window. Moopay LTD will then continue to supply developers until adequate external contributors can be found. Moopay LTD will guarantee priority 24/7 response to urgent issues, and best-effort response to all other cases. This includes fixing broken services, the QT wallet, and blockchain issues. We will also seek to expand upon the coin when there are no issues. Moopay LTD will also always make a developer available for urgent issues, regardless of contributor state, for a minimum of 18 months from the time this agreement is made formal.

Our (now expanded) development team has experiencing in working for Microsoft, Citigroup, Telefonica and more - and each and every member has substantial experience in crypto development (including daemon and reference client work).

I think the devs are grabbed by the balls with this one, its the only way to make somebody to work

[Sethtabiah]

Best of Luck !

[r1d1]

Don't download the wallet from somebody else's except devs!

kro55, don't take it personally, but today in the another thread some member (or full member - I don't remember) share the wallet with trojan.

Are you in dev team? If not why you are speaks like one of them. Let people to make decision by themself.

You can alway scan it first before install. Please come one people start to think and use your brain. If you like to stay with broken wallet than use brain, download, scan by antyvirus and than make decision if clean than install - it is your buisness.

No, not dev.

>> You can alway scan it first before install.
ZipCoin was infected by trojan, virustotal.com has 0 / 53.
A lot of people lost money.
I can change the wallet, which will send out the private keys, and no one antivirus did not detect it.
Antivirus isn't garanty.

Edit: This is analysis of the infected wallet: https://www.virustotal.com/ru/file/6b1f9c129d06fc010850c6a44ec443b4435735722cfd4fe271737f1ab4f7e90a/analysis/
You can find the link to the infected wallet in the coin thread.

[pigheadbig]

DEV UPDATE:

- We have fixed the requires issues and pools are updating now.

- We are agreeable to Moolah's terms and will be releasing a more detailed statement later today.

- We are building the new wallets now. THEY ARE NOT YET AVAILABLE FOR DOWNLOAD.

You can pull from git master branch if you know how to build yourself. Latest version if 0.1.3, no fork required.

finally, some news from the dev.
good news ,thanks.

[Sysbuster]

We have now reached the deadline for the ultimatum we previously issued to the Syscoin team, and while we are entering in to a review period; we have made the following preliminary decision (that is subject to change).

Our preliminary decision is that we will not be refunding the coin, but with the agreement of the Syscoin development team, will be changing release and development schedules moving forward. This decision will either be confirmed (or rejected and modified) publicly at 6PM GMT on Tuesday 26th August, 2014. While we could make the decision in full now (which would be to not refund), this review period will also include us engaging with various members of the community, over the best course of action to take. Please do not scream FUD at us, engage with us constructively.

While the launch of the coin was fraught with issues, the coin still launched. It worked at first, albeit erratically - and before the blockchain and daemon encountered severe issues, was in a usable state. This was not the case for everybody, but it was the case for many. At this stage, because initial obligations were met, we moved in to the inspection period (originally intended to last 72 hours). During this period, the coin encountered a number of major issues and became non-usable very rapidly.

As a result of this, and general public opinion, we issued a deadline-based ultimatum to the Syscoin team in regards to steps that need to be taken in order to ensure that funds would be released. If they took no action or made no progress, then they wouldn't be seeing a single satoshi. If they made good progress, we would re-review. We are now at the end of the ultimatum window, and we have made an initial judgement based on what the developers of the coin have done, and what they are continuing to do.

However, we are not comfortable to release the funds in full to the developers at this stage, and have put the following agreement to the Syscoin team. We are putting, and will be putting our own resources on the line in order to help protect the supporters of the coin, and encourage general adoption of this. I personally have faith in this coin, despite the abysmal launch - though this did not play a part in my decision.

Clause 1
Staggered release of funds.

The escrowed funds will not be released in full. They will be released in 6 monthly payments. The first payment will be for 250 BTC once this agreement is made formal, and then there will be an additional 200 BTC released each month for the next five months. At the end of this period, the Syscoin accrued during the early buy walls, will also be released. Release each month will be subject to the developers actively working on the coin, and making good progress in any necessary areas (to be determined on a monthly basis).

Clause 2
Moolah to support developers.

Moopay LTD will provide the Syscoin development team with access to our team of developers, for assistance with development issues, for a period of 6 months. Help will be given on a best-effort basis, with priority help granted for urgent issues.

Clause 3
Moolah to guarantee continued development.

If the developers decide to bail in full, and abandon development of the coin before this agreement is up; then Moopay LTD will supply a minimum of 3 developers to continue work on the coin - until the end of the agreement window. Moopay LTD will then continue to supply developers until adequate external contributors can be found. Moopay LTD will guarantee priority 24/7 response to urgent issues, and best-effort response to all other cases. This includes fixing broken services, the QT wallet, and blockchain issues. We will also seek to expand upon the coin when there are no issues. Moopay LTD will also always make a developer available for urgent issues, regardless of contributor state, for a minimum of 18 months from the time this agreement is made formal.

Our (now expanded) development team has experiencing in working for Microsoft, Citigroup, Telefonica and more - and each and every member has substantial experience in crypto development (including daemon and reference client work).

Sorry for all Fud .Syscoin will win .http://38.media.tumblr.com/tumblr_lpmfs70qeO1qhzdcmo1_500.gif

[Cointang]

I feel confident as an investor once again, moon pies everyone?

[Bitcycle]

While the launch of the coin was fraught with issues, the coin still launched. It worked at first, albeit erratically - and before the blockchain and daemon encountered severe issues, was in a usable state.

This remains the most ludicrous possible interpretation of "worked".  A cryptocurrency with a broken blockchain is a not a working cryptocurrency.  The funds should have been returned in very short order.

Clause 3
Moolah to guarantee continued development.

If the developers decide to bail in full, and abandon development of the coin before this agreement is up; then Moopay LTD will supply a minimum of 3 developers to continue work on the coin - until the end of the agreement window. Moopay LTD will then continue to supply developers until adequate external contributors can be found. Moopay LTD will guarantee priority 24/7 response to urgent issues, and best-effort response to all other cases. This includes fixing broken services, the QT wallet, and blockchain issues. We will also seek to expand upon the coin when there are no issues. Moopay LTD will also always make a developer available for urgent issues, regardless of contributor state, for a minimum of 18 months from the time this agreement is made formal.

Our (now expanded) development team has experiencing in working for Microsoft, Citigroup, Telefonica and more - and each and every member has substantial experience in crypto development (including daemon and reference client work).

Ah.  Now we get down to it.

Welcome to MoolahCoin.

Now it ALL makes sense, doesn't it?

[sdersdf2]

Moolah's involvement as technical backup/supporter/guarantor makes this effectively, arguably one of the best dev teams among all altcoins, short of Ethereum and a few others. I think it's still sinking in how big and historic a deal this is.

[btcney]

Can we go to the moon now?
0.0002 satoshi in a week 

[chromosoma]

There is no time to explain, send SYS here, fast!!!: SkYsk4czq2dhjWGX85w6NKwDbQztAbkgSa

[Bitcycle]

Somewhere down the line, the Syscoin "dev" (lol) team is going to find themselves in a nice conference room, staring at a contract, wondering how they've just been dropped out of their own coin without anything to show for it.  It'll be like that scene in The Social Network.

A well-played takeover, though.

[ellen.yan]

ok, i choose to believe alex and dev team...all the guys with the same brief would make us strong...but u should promise what u said is valid ...

[josephliton]

Moolah's involvement as technical backup/supporter/guarantor makes this effectively, arguably one of the best dev teams among all altcoins, short of Ethereum and a few others. I think it's still sinking in how big and historic a deal this is.

You don't wait for something to happen, you make it happen! And Moolah will do this for us!