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

[snipsnoop]

Is it safe use Moolah for escrow?

Yes it is, registered company, well known.
From their own website.

Moolah is currently incorporated in two countries. In England and Wales we're incorporated as Moopay LTD, under company number 08920347. In the United States, we're incorporated in the state of Wyoming as moolah.io INC; which is registered with FinCEN with BSA ID 31000047132300.

We have spent a lot (and I mean a lot) of time looking into escrow. We want this to be as smooth as possible and Moolah is the perfect fit.
But we will be posting more data shortly on everything.

[nomoreheroes7]

I'm still kind of worried about the IPO pricing...since we know it will be less than 0.03 per coin during regular phase, let's take a scenario of 0.018 for the early bird and 0.027 for the regular phase. That comes to 50 million sold at 0.018 = $900,000 + 50 million sold at 0.027 = $1,350,000, a combined total of $2,250,000 (approx. 3600 BTC) for 100 million coins. Add to that the 60 million coins for the devs (about $1,350,000 weighted average) and you have a total market cap out the gate of $3,600,000 (approx. 5750 BTC), #19 in market cap. If there are 325,888,000 coins available after 8 months, the total market cap will need to be $8,798,976 (#10 in market cap) just to maintain the regular IPO price of 0.027 (meaning break even for investors). Please feel free to correct me if any of my math is incorrect, but the room for growth appears kind of small, at least in this scenario.

[Lordoftherigs]

I'm still kind of worried about the IPO pricing...since we know it will be less than 0.03 per coin during regular phase, let's take a scenario of 0.018 for the early bird and 0.027 for the regular phase. That comes to 50 million sold at 0.018 = $900,000 + 50 million sold at 0.027 = $1,350,000, a combined total of $2,250,000 (approx. 3600 BTC) for 100 million coins. Add to that the 60 million coins for the devs (about $1,350,000 weighted average) and you have a total market cap out the gate of $3,600,000 (approx. 5750 BTC), #19 in market cap. If there are 325,888,000 coins available after 8 months, the total market cap will need to be $8,798,976 (#10 in market cap) just to maintain the regular IPO price of 0.027 (meaning break even for investors). Please feel free to correct me if any of my math is incorrect, but the room for growth appears kind of small, at least in this scenario.

3600 BTC for 5% is way way overpriced.

For instance Viacoine (https://bitcointalk.org/index.php?topic=682186.0) which has quite similar aims as Syscoin in many ways sold 10% of all coins for approximately 600BTC.

[snipsnoop]

Just to be clear.. 3600BTC is NOT what we are going for. Again please wait for the full details before jumping to conclusions.

[nomoreheroes7]

Just to be clear.. 3600BTC is NOT what we are going for. Again please wait for the full details before jumping to conclusions.

Thanks snipsnoop; I really am hoping that my hypothetical scenario is incorrect, but still goes to show how important the initial pricing will be.

[paulus51]

so yet a other pre sale coin ? i don't like that idea honesty as far i see all pre sale coins is going to flop as you can see around this forum,

many people lost a llot btc's and what so ever for a coin, so how will this coin be ? what makes it difference from other coins ? is this a fast money coin? like grashoppers do ?

yet a other scam coin or what is it , what can i do with it ? wy should i invest in this coin ?  ex-plane this please

[Lordoftherigs]

so yet a other pre sale coin ? i don't like that idea honesty as far i see all pre sale coins is going to flop as you can see around this forum,

many people lost a llot btc's and what so ever for a coin, so how will this coin be ? what makes it difference from other coins ? is this a fast money coin? like grashoppers do ?

yet a other scam coin or what is it , what can i do with it ? wy should i invest in this coin ?  ex-plane this please

read the OP check out the webpage, do your homework and decide for yourself.

[he-man]

you should make a detailed video about how business is done on the block chain. Would spike some interest.

[TwinWinNerD]

I will keep watching this!

[snipsnoop]

you should make a detailed video about how business is done on the block chain. Would spike some interest.

Already did. Working on encoding it at the moment, will be up very soon.

[SomeBoy]

Should people interested in the presale already start depositing BTC on Moolah?

[snipsnoop]

Should people interested in the presale already start depositing BTC on Moolah?

Direct wallet address that payment needs to be sent to, but that address will be provided by (and hosted by) Moolah. Won't be public until the presale starts, and having BTC on Moolah (like in your account balance or something) isn't going to get the BTC from Moolah to the escrow address any faster than a wallet outside of Moolah's system.

Hope this helps

[Korean]

Should people interested in the presale already start depositing BTC on Moolah?

No.

You don't even know the price per coin yet. Do some calculations to see if benefits outweigh the risk.

Whitepaper is not even released yet.

No need to jump the gun.

[SomeBoy]

Should people interested in the presale already start depositing BTC on Moolah?

Direct wallet address that payment needs to be sent to, but that address will be provided by (and hosted by) Moolah. Won't be public until the presale starts, and having BTC on Moolah (like in your account balance or something) isn't going to get the BTC from Moolah to the escrow address any faster than a wallet outside of Moolah's system.

Hope this helps

Thanks, that's exactly what I wanted to know.

[S3MKi]

what pre-sale price guys?I thought that the developers will take btc and divide on the total number of coins pre-sale. NO?!

[Grifftech2k4]

Why Scrypt?? That runs so hot and in the summer it is even worse.  What Scrypt coins are merge-minable with this and what pools support merg-mining of Scrypt?.

[sebastien1234]

Why Scrypt?? That runs so hot and in the summer it is even worse.  What Scrypt coins are merge-minable with this and what pools support merg-mining of Scrypt?.

We are leveraging the most used algorithm after sha-256 to ensure the good-health of the network and to spread distribution amongst miners, reducing possibilities of heavy dumping, which is specifically the reason it is merge-mine-able. You will technically be able to mine it with ANY other Scrypt coin as long as the pool supports it; we will also be offering a bounty to release an MPOS fix so that any MPOS scrypt pool will be able to merge-mine it.

[danosphere]

Why Scrypt?? That runs so hot and in the summer it is even worse.  What Scrypt coins are merge-minable with this and what pools support merg-mining of Scrypt?.

We are leveraging the most used algorithm after sha-256 to ensure the good-health of the network and to spread distribution amongst miners, reducing possibilities of heavy dumping, which is specifically the reason it is merge-mine-able. You will technically be able to mine it with ANY other Scrypt coin as long as the pool supports it; we will also be offering a bounty to release an MPOS fix so that any MPOS scrypt pool will be able to merge-mine it.

+1 And because for large distributed financial systems like this that go beyond a simple system of recording transactions you want as much stability (hashing power) and decentralization of that power as possible. Scrypt mining plus merge mining is the answer here. You can mine Syscoin alongside any other Scrypt-based coin, its not a question of if that coin allows it or not. Because of this, you'll immediately be able to merge mine Syscoin using P2Pool.

For larger more ubiquitous pool setups as @sebstien1234 pointed out we'll be offering a large bounty for an MPOS fork that implements merged mining, which would mean (if pools upgrade to this version of MPOS) you could mine Syscoin alongside all the current Scrypt based mining pools running on MPOS. That is a lot of hashing power, and also makes the coin far less susceptible to Multipool attacks once the full network power is realized and ensure that people will keep mining Syscoin on the side for the network and service fees even after PoW ends.

I want to point out our team is always looking at the horizon as to what to do next (...and we haven't even launched yet). We have some cool things planned for Syscoin and its not just some x275 PoW, we'd like to think bigger than that

[realestmofo]

Also as @snipsnoop stated there are no "aims" here... aside from looking to totally disrupt the centralized nature of many major financial systems. We are launching feature-complete with the 4 core features outlined in the OP. We will try to release a roadmap as well when the presale opens, but honestly there is still a lot of debate [internally] around what the next feature will be after launch. Most likely it will be escrow on the blockchain since that is a natural fit with the features we're launching with... but once the team has discussed we'll post something more official.

When the presale launches we'll also have a slew of bounties we'll be posting as well! So if you know pool operators, translations, if you can do blog posts, etc etc. - GET READY!

Here is part of a post some may have missed.

The post I quoted talks about a couple things. Launching feature-complete with the 4 core features outlined in the OP.

1. Business on the Blockchain

2. Brokerage on the Blockchain

3. Certificates on the Blockchain

4. Miners Matter

They mention next may be escrow on the blockchain.

That right there is huge. Buy and sell things on the market place with blockchain escrow in the future.

Also, there will be bounties for those who want to get paid for their work.

Some things to think about as the presale opens.

Video on Syscoin Certificates Demo www.youtube.com/watch?v=e7HczUeEXeQ

[danosphere]

Video on Syscoin Certificates Demo www.youtube.com/watch?v=e7HczUeEXeQ

WOW that was fast. I just uploaded that 5min ago. Well done sir!

Feedback welcome- and as promised more videos (and whitepapers) to come.