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

[john150]

The coin is - without a doubt - innovative. Those who are asking what's so special about it just didn't make effort to read the thread.

IPO - if you don't like the coins at this price wait for them to arrive at the exchange and buy them there. Usually coins on the exchange are much cheaper than the ones in IPO, but IPO is good for those who would like huge volume of coins, who don't mind that for some time market price will be way below IPO price and who believe that the coin is good enough for it's price to spike. We don't want here people screaming "I bought the coin for 5X and now it is worth only 1X - that's how it works.

Good luck for all the team!

[1713279463]

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[1713279463]

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[1713279463]

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[Korean]

The coin is - without a doubt - innovative. Those who are asking what's so special about it just didn't make effort to read the thread.

IPO - if you don't like the coins at this price wait for them to arrive at the exchange and buy them there. Usually coins on the exchange are much cheaper than the ones in IPO, but IPO is good for those who would like huge volume of coins, who don't mind that for some time market price will be way below IPO price and who believe that the coin is good enough for it's price to spike. We don't want here people screaming "I bought the coin for 5X and now it is worth only 1X - that's how it works.

Good luck for all the team!

Moral is not to invest if you not willing to accept the risk?

[Neo.op]

The coin is - without a doubt - innovative. Those who are asking what's so special about it just didn't make effort to read the thread.

IPO - if you don't like the coins at this price wait for them to arrive at the exchange and buy them there. Usually coins on the exchange are much cheaper than the ones in IPO, but IPO is good for those who would like huge volume of coins, who don't mind that for some time market price will be way below IPO price and who believe that the coin is good enough for it's price to spike. We don't want here people screaming "I bought the coin for 5X and now it is worth only 1X - that's how it works.

Good luck for all the team!

Moral is not to invest if you not willing to accept the risk?

Isn't that the very basic of investing?

[whale123]

The coin is - without a doubt - innovative. Those who are asking what's so special about it just didn't make effort to read the thread.

IPO - if you don't like the coins at this price wait for them to arrive at the exchange and buy them there. Usually coins on the exchange are much cheaper than the ones in IPO, but IPO is good for those who would like huge volume of coins, who don't mind that for some time market price will be way below IPO price and who believe that the coin is good enough for it's price to spike. We don't want here people screaming "I bought the coin for 5X and now it is worth only 1X - that's how it works.

Good luck for all the team!

Moral is not to invest if you not willing to accept the risk?

Yes. A few more morals:
- invest only what you can afford to lose
- don't be greedy
- understand that on the road to a new all time high there will be some all time lows
- do not panic sell

[Neo.op]

I might have missed it but danosphere, how are you guys enabling smart contracts on your blockchain? Cause the whole certificate thing looks more like asset on next and not really a smart contract. Another query I had was, how do you stop people from issuing worthless certificate to bloat the blockchain?

[fishy91]

Is there a beta available yet, or will there be one available before the IPO starts?

[snipsnoop]

I might have missed it but danosphere, how are you guys enabling smart contracts on your blockchain? Cause the whole certificate thing looks more like asset on next and not really a smart contract. Another query I had was, how do you stop people from issuing worthless certificate to bloat the blockchain?

I will let Dan answer the first part.
But in relation to blockchain bloat the fees involved would mean it would be quite expensive to do.
It is the same for the other commands.
As per namecoin, fees are based on blockheight and command type and will go down on a sliding scale.

[danosphere]

I might have missed it but danosphere, how are you guys enabling smart contracts on your blockchain? Cause the whole certificate thing looks more like asset on next and not really a smart contract. Another query I had was, how do you stop people from issuing worthless certificate to bloat the blockchain?

Good question! "Smart Contracts" as interpreted in the vein of Nick Szabo would probably require leveraging multiple Syscoin services such as a certificate and an offer (offer's have the cost, quantity, and payment flow attached). In the demo video, we only show the certificates side of that (and an extremely rudimentary example at that). Based on my understanding (reading here) an offer would need to be combined with a cert to produce a "smart contract" like flow. I need to do more reading on this definition of smart contracts and then I can give a more thorough reply on how that relates to Syscoin, or if its something different entirely. Based on my initial reading it seems to be a combination of offers and certificates, but I do need to read more. The important part here is there is no central authority (a bank, a broker, a ticket reseller) enforcing or maintaing the certificate/contract and its provable ownership, the network facilitates that.

It is not the same thing as the NXT asset exchange. Our "offers" feature is "sort of" like the NXT assets (NXT assets are rather confusing imo - this doesn't look like something I can just buy), our offer implementation is more understandable from a normal user/marketplace perspective. Its like listing an item for sale. From what i understand of NXT asset exchange it has to do with shares of NXT (or something), the marketplace looks like a blog so its hard for me to determine what exactly is going on there. And I read their whitepaper and it wasn't the most informative so providing concrete comparisons to NXT I won't do- but i will read up more on the generally understood concept of crypto-smart-contracts and provide a better explanation of how Syscoin plays into that role.

Also as I mentioned earlier Syscoin is not a ground up rewrite like NXT. It takes well-reviewed codebases (Litecoin, Bitcoin, Namecoin) and combines their features and build on them.

[Djinou94]

How long time it will be possible to invest ?

And there is a limit or not? Like Crypti at 750 BTC

[stormia]

Got my eye on this one for sure... seem to be a lot of interesting ICOs going on around now (this, crypti, and viacoin). Will be interesting to see how they all turn out.

[zachamo]

video: tl;dw. Not sexy. love the idea, but the coin isn't getting much love. Why aren't you making this sexy to non technophiles? Need marketing.. Real marketing support. Dan is a superstar in a bunch of areas including social media, but not a master marketer.

Still have my reservations about Scrypt based and bitcoin code base for that matter, but I'm still keeping a close eye and looking forward to the ipo details none the less.

[ALBORCA]

why last minute with all the this mystery!!

[Neo.op]

I might have missed it but danosphere, how are you guys enabling smart contracts on your blockchain? Cause the whole certificate thing looks more like asset on next and not really a smart contract. Another query I had was, how do you stop people from issuing worthless certificate to bloat the blockchain?

Good question! "Smart Contracts" as interpreted in the vein of Nick Szabo would probably require leveraging multiple Syscoin services such as a certificate and an offer (offer's have the cost, quantity, and payment flow attached). In the demo video, we only show the certificates side of that (and an extremely rudimentary example at that). Based on my understanding (reading here) an offer would need to be combined with a cert to produce a "smart contract" like flow. I need to do more reading on this definition of smart contracts and then I can give a more thorough reply on how that relates to Syscoin, or if its something different entirely. Based on my initial reading it seems to be a combination of offers and certificates, but I do need to read more. The important part here is there is no central authority (a bank, a broker, a ticket reseller) enforcing or maintaing the certificate/contract and its provable ownership, the network facilitates that.

It is not the same thing as the NXT asset exchange. Our "offers" feature is "sort of" like the NXT assets (NXT assets are rather confusing imo - this doesn't look like something I can just buy), our offer implementation is more understandable from a normal user/marketplace perspective. Its like listing an item for sale. From what i understand of NXT asset exchange it has to do with shares of NXT (or something), the marketplace looks like a blog so its hard for me to determine what exactly is going on there. And I read their whitepaper and it wasn't the most informative so providing concrete comparisons to NXT I won't do- but i will read up more on the generally understood concept of crypto-smart-contracts and provide a better explanation of how Syscoin plays into that role.

Also as I mentioned earlier Syscoin is not a ground up rewrite like NXT. It takes well-reviewed codebases (Litecoin, Bitcoin, Namecoin) and combines their features and build on them.

I guess I have to wait for someone to actually look at the syscoin implementation and decide if it is a true smart contract implementation. An asset on NXT also has a certificate (example the bithaus broken shares) with offers. But it is not a smart contract. If syscoin is doing the same, then its not a smart contract too. Only thing which might be missing is the enforcement part. The assets (or certificates) maybe withdrawn by the issuer at any time (at least thats what I think happens on NXT or MSC or XCP), so there is no absolute enforcement.

Actually you can buy those shares (if you are interested in bithaus ):
https://nxtblocks.info/#section/assets_exchange    -> search for bithaus and you will find bids/offers.

The url you have posted is just a repository of the available assets in the market. Hence the blog like structure. Actual bids/offers are available via the nxt asset exchange or you can see them on the above site.
The nxt exchange is not really about nxt shares rather anyone can issue an asset (or certificate) with offers and let people set a market if they are interested in trading further.

That said, looking forward to a more in-depth reply, once you gone through the crypto smart contract concepts.

[Lordoftherigs]

why last minute with all the this mystery!!

releasing vital information like this hour before crowd sale or even later is just fishy.... I like the idea of this project but things like max cap per investor, price per syscoin, IPO end date and of course whitepaper  should have been available already !!!

You must understand that since nobody has reviewed your whitepapers plus terms and conditions of IPO are incomplete this smells a bit fishy? Is there a reason why ? And if it is time related issue why not postpone the IPO ?

Regards

[Primitive]

will the presale info be posted in this ANN?

[Qiuyue201]

why last minute with all the this mystery!!

releasing vital information like this hour before crowd sale or even later is just fishy.... I like the idea of this project but things like max cap per investor, price per syscoin, IPO end date and of course whitepaper  should have been available already !!!

You must understand that since nobody has reviewed your whitepapers plus terms and conditions of IPO are incomplete this smells a bit fishy? Is there a reason why ? And if it is time related issue why not postpone the IPO ?

Regards

False accusations. It is good that all the details will be released at the start of the IPO. People have 3 weeks to go through all the details and make up their mind.

[zevlon]

So many IPOS...This one looks diffrent between others.Just wait and see other people's opnion

[Qiuyue201]

I think this coin is just for miners since IPO percentage is just 5%, price will be dumped quickly by miners.

Yes, people should be avare of that. However IPO is great option for long term investors who do not mind price being dumped by miners for a little bit and who understand that there are always ups and downs. Also, IPO can make it easier to buy large amount of coins which might be harder on regular exchange. So if you are here for a long term investment (months, not days or weeks) you should go for IPO, but if you are for a quick buck, then you should stick to the exchange. It is important that people understand how it works, because we don't need IPO investors dumping at the start worried by the initial price. It takes time. Look at bitcoin - it went to 5 USD from 30 USD before it went to 600 USD levels. You have to understand that here case might be similar, so no worries.

[Primitive]

Premine: 8% [5% Presale, 2% Devs, 1% Bounties and Rewards]


i expect there will be a lot of interest and so many "investors" - that's going to mean pretty small percentages i bet.  so the devs might end up with very large relative percentages.

5% / large number of investors
2% / small number of devs

that may be fine, just pointing it out.

[zhangdu]

Premine: 8% [5% Presale, 2% Devs, 1% Bounties and Rewards]


i expect there will be a lot of interest and so many "investors" - that's going to mean pretty small percentages i bet.  so the devs might end up with very large relative percentages.

5% / large number of investors
2% / small number of devs

that may be fine, just pointing it out.