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

[Korean]

Thoughts on this distribution strategy suggested by Tacotime?

Client (along with a CPU and GPU miner) will be encrypted by scrypt and packaged with a program to decrypt it long before the actual release.  A time will then be given for mining to begin.  At this time, you get the password, and everyone gets to mine at the same time.  Depending on the interest expressed, the starting difficulty will be set at around 2000-6000 7970's worth of power for 2 minute/block target time.  Multiple pools are also planned to be available at launch.

[blackhatzw]

Another question, how to avoid the coins are monopolised by the Large Miners, they will dump the price very soon when it hit platform.

[snipsnoop]

Thoughts on this distribution strategy suggested by Tacotime?

Client (along with a CPU and GPU miner) will be encrypted by scrypt and packaged with a program to decrypt it long before the actual release.  A time will then be given for mining to begin.  At this time, you get the password, and everyone gets to mine at the same time.  Depending on the interest expressed, the starting difficulty will be set at around 2000-6000 7970's worth of power for 2 minute/block target time.  Multiple pools are also planned to be available at launch.

Don't really see the relevance here sorry.

[danosphere]

In order to give people some further insight into exactly what Syscoin is/offers/does as well as "proof" of the thinking and work that's already occurred to make this a functional reality - here is a graphic illustrating the key differences between Bitcoin and Syscoin and the features Syscoin will bring to the table at time of launch (shortly after presale closes). Happy to answer any questions people may have about any of the features coming @ launch.

[Korean]

Thoughts on this distribution strategy suggested by Tacotime?

Client (along with a CPU and GPU miner) will be encrypted by scrypt and packaged with a program to decrypt it long before the actual release.  A time will then be given for mining to begin.  At this time, you get the password, and everyone gets to mine at the same time.  Depending on the interest expressed, the starting difficulty will be set at around 2000-6000 7970's worth of power for 2 minute/block target time.  Multiple pools are also planned to be available at launch.

Don't really see the relevance here sorry.

To ensure fair distribution and time for miners to get ready, why don't you distribute the client with the miners...encrypt it....then once you say ready get set go, post the key to decrypt it, so that miners can start at the same time.

[sebastien1234]

Thoughts on this distribution strategy suggested by Tacotime?

Client (along with a CPU and GPU miner) will be encrypted by scrypt and packaged with a program to decrypt it long before the actual release.  A time will then be given for mining to begin.  At this time, you get the password, and everyone gets to mine at the same time.  Depending on the interest expressed, the starting difficulty will be set at around 2000-6000 7970's worth of power for 2 minute/block target time.  Multiple pools are also planned to be available at launch.

Don't really see the relevance here sorry.

To ensure fair distribution and time for miners to get ready, why don't you distribute the client with the miners...encrypt it....then once you say ready get set go, post the key to decrypt it, so that miners can start at the same time.

Thank you for your suggestion, although the launch date has not yet been determined, we certainly want it to be as fair as possible and will take all of your suggestions into account.

[alrose]

watching .

[prospect]

In order to give people some further insight into exactly what Syscoin is/offers/does as well as "proof" of the thinking and work that's already occurred to make this a functional reality - here is a graphic illustrating the key differences between Bitcoin and Syscoin and the features Syscoin will bring to the table at time of launch (shortly after presale closes). Happy to answer any questions people may have about any of the features coming @ launch.

The "Data Alias"for storing data. What kind of data will this be and will it be stored on blockchain (if thats the case its not that optimal)?

[snipsnoop]

In order to give people some further insight into exactly what Syscoin is/offers/does as well as "proof" of the thinking and work that's already occurred to make this a functional reality - here is a graphic illustrating the key differences between Bitcoin and Syscoin and the features Syscoin will bring to the table at time of launch (shortly after presale closes). Happy to answer any questions people may have about any of the features coming @ launch.

The "Data Alias"for storing data. What kind of data will this be and will it be stored on blockchain (if thats the case its not that optimal)?

Any data can be stored on the blockchain with a set expiration height. Fees will clearly have to be paid though and there are limits in place.
After it expires it will be removed. As per namecoin fees will initially be high and then be on a sliding scale as block height increases.
A lot more details to follow when we get closer. Don't want to give it all away just yet.

[Momimaus]

Alright I see the improvement of Syscoin over Bitcoin.
But whatabout NXT?
In my understanding they have the same features, but without miners inflating the price.

Please correct me if I am wrong

[danosphere]

Alright I see the improvement of Syscoin over Bitcoin.
But whatabout NXT?
In my understanding they have the same features, but without miners inflating the price.

Please correct me if I am wrong

Reading their whitepaper I can tell you some of the differences are the features they are talking about offering, they don't actually have functional yet (see way down that the bottom; concept not ready, partially done, some aren't started). I agree their may be similarities as I see parallel with Namecoin which Syscoin also does share.

I would tell you more of what's different but I'm having trouble locating their github repo to actually compare code and see what they do vs. Syscoin. Can you help me with a link pls? Can provide more info after I give their code a review.

[syldh]

launch time？？？

[sebastien1234]

launch time？？？

This is currently a pre-ann for the pre-sale, the pre-sale date is not yet decided, the launch will obviously be after the pre-sale

[shadowduck]

I've wait for too much time......tired.

Any timeline given?

[SyRenity]

All I asked was "has there ever been a single successful ipo coin to date" which I think is a perfectly relevant question and will determine whether I invest or not yet the OP feels threatened by it enough to delete it with out answering? Something doesn't feel right

NXT?

[prospect]

In order to give people some further insight into exactly what Syscoin is/offers/does as well as "proof" of the thinking and work that's already occurred to make this a functional reality - here is a graphic illustrating the key differences between Bitcoin and Syscoin and the features Syscoin will bring to the table at time of launch (shortly after presale closes). Happy to answer any questions people may have about any of the features coming @ launch.

The "Data Alias"for storing data. What kind of data will this be and will it be stored on blockchain (if thats the case its not that optimal)?

Any data can be stored on the blockchain with a set expiration height. Fees will clearly have to be paid though and there are limits in place.
After it expires it will be removed. As per namecoin fees will initially be high and then be on a sliding scale as block height increases.
A lot more details to follow when we get closer. Don't want to give it all away just yet.

How much data will you be able to store? Do you sense that the blockchain will be bloated as fuck (e.g. the size will be unmanageable).

[HasHe]

could I mine a decent amount with a gtx 680 or three hd7950 on the launch?

[snipsnoop]

could I mine a decent amount with a gtx 680 or three hd7950 on the launch?

Hard to say. It will be like other coins out there when launched so it will depend on how much overall hash is thrown at it.
There is a lot of scrypt ASIC out there now though and it will only get worse.

[shadowduck]

How is the development progress?

[danosphere]

I've wait for too much time......tired.

Any timeline given?

I know and I apologize but this isn't some fly by night operation. We're trying to do this right. Timeline right now is 2weeks. I have some a call tomorrow that (if it goes well) will allow us to set a hard date and time for the presale launch as we'll have an escrow provider and that's the last item we're waiting for.

How is the development progress?

Excellent, we're testing retargeting at the moment since there may be larger swings of hashing power if merge mining catches on. We're also hardening all of the services. Going to post later tonight with the revised reward schedule and some other items related to development progress.


Quick update: Schedule ran long tonight and I won't be able to post the update I had hoped for tonight, I will however post this update tomorrow in a more meaningful format. Apologies for the delay [didn't want to add another reply to this thread to pass on this info].