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

[snipsnoop]

so is the launch 4 weeks from now fixed, i read that if we get the target of 1500btc will it be launched early.

That is correct. We will do a full launch on August 16th.

[bitcoinwonders010]

so is the launch 4 weeks from now fixed, i read that if we get the target of 1500btc will it be launched early.

That is correct. We will do a full launch on August 16th.

so regardless of all the ipo shares being bought before aug, launch is on the august 16th

[danosphere]

so is the launch 4 weeks from now fixed, i read that if we get the target of 1500btc will it be launched early.

That is correct. We will do a full launch on August 16th.

so regardless of all the ipo shares being bought before aug, launch is on the august 16th

At the latest. If we feel the platform is stable enough sooner we may launch sooner, esp if the presale sells out. We're trying to squeeze 2 more significant features into the launch (in the 4 weeks til launch) so will have to see where we're at when presale sells out/if it does.

[G K G]

Hi, a small suggestion. I think the minimum purchase of 0.1BTC is a bit high for some people. Most of us who follow this thread have been very much aware of syscoin and were very much looking forward to invest, so we had time to allot funds for the presale.
But for some who are new to syscoin would like only to invest a little. the current min.purchase could put-off small investors. I think a lower min.purchase would ensure wider and fair distribution. If you would ask me i'll suggest you to go as low as 0.01BTC

[bitcoinwonders010]

so is the launch 4 weeks from now fixed, i read that if we get the target of 1500btc will it be launched early.

That is correct. We will do a full launch on August 16th.

so regardless of all the ipo shares being bought before aug, launch is on the august 16th

At the latest. If we feel the platform is stable enough sooner we may launch sooner, esp if the presale sells out. We're trying to squeeze 2 more significant features into the launch (in the 4 weeks til launch) so will have to see where we're at when presale sells out/if it does.

a sneak peak on these two features?

[pseudonymdude]

so is the launch 4 weeks from now fixed, i read that if we get the target of 1500btc will it be launched early.

That is correct. We will do a full launch on August 16th.

so regardless of all the ipo shares being bought before aug, launch is on the august 16th

At the latest. If we feel the platform is stable enough sooner we may launch sooner, esp if the presale sells out. We're trying to squeeze 2 more significant features into the launch (in the 4 weeks til launch) so will have to see where we're at when presale sells out/if it does.

Like others have asked, do you have any roadmap or budget for the ipo funds?

Will devs be keeping any significant BTC for themselves or will all funds go towards marketing/development, etc?

What types of marketing are you planning on doing to reach outside of the crypto community?
How will you get wall street interested?

Thanks

[melfrecords]

No, i mean for refund purposes. Someone might want to have a refund, lol

Refunds only go out if Syscoin Team doesn't deliver as promised. Noted in the presale details in italic text.

I am not familiair yet with IPO. Someone care to explain please?

So I send BTC to a generated address and get an e-mail in return with 1: a keypair or 2: a wallet.dat.

Then what? I believe there is no wallet out yet, correct? So what to do with the keypair or wallet.dat until wallet is ready? When is wallet planned for release?

In case of 1: keypair: how do I import a keypair? Any suggestions for a good tutorial? I do not want to lose BTC.

In case of 2: wallet.dat: if I mine syscoins too I presume I must use wallet.dat from IPO before generating addresses to receive mint syscoins ?

What do you recommend, keypair or wallet.dat?

In short, when do I have coins in my own personal wallet after purchasing in IPO?

Thanks in advance for the help.

Good question-

Case 1: The wallet has a feature to import the keypair, which will then put the SYS you purchased in your wallet.

Case 2: In order to ensure your mined SYS is not lost I would recommend using wallet.dat as you base and mining from there.

As far as distribution goes the keys/wallets will be sent out shortly before launch (~4weeks from now). Keys and wallet.dat will go out ahead of launch, so that when we launch you can simply download wallet client, import your keys / wallet.day, start mining for more SYS. The launch will be timed precisely just like the presale.

I will make sure to write this up in a tutorial and also add it to the OP shortly. Great question.

Thanks for the clear and quick response

OK, I pay BTC now and basically get SYS in approximately 4 weeks time (except in case presale is sold out really quickly, I just read).

In the event the SYS team does not deliver SYS I get an automatic refund from escrow, correct? What is 'not delivering SYS'? Failing to deliver a simple wallet with SYS coins and no additional functionality at all? Or not delivering a fully functional wallet with the 4 core features operational (no alpha's, bèta's, untested) as listed in the OP?

Who/what determines whether I am entitled to a refund? A SYS certificate?

[danosphere]

Trying to keep up here...

Like others have asked, do you have any roadmap or budget for the ipo funds?

Will devs be keeping any significant BTC for themselves or will all funds go towards marketing/development, etc?

What types of marketing are you planning on doing to reach outside of the crypto community?
How will you get wall street interested?

Thanks

Collected funds are being focused on several things, primarily building partnerships with large players in the crypto space (I mean companies, not whales). We're also going to be spending some of the collection on bounties, although not all of it as we do have a small amount of Syscoin for bounties as well. Then of course, future development; we're already trying to push additional features (2) into the coin prior to launch, on top of the 4 that are already completed. Outside of that we will hold much of the BTC for ongoing costs that we can't currently predict. We already have some deals in place that look to exercise the BTC we're collecting and the deals we're working on aren't cheap, but will ultimately take Syscoin to the next level.

a sneak peak on these two features?

On the team call this morning we were discussing that in 4 weeks it may be feasible to implement "smart contracts" as they are typically understood in the crypto community, requiring 2 sets of keys, etc. The other feature would be making the already-on-deck marketplace feature a bit more flexible by allowing the concept of counteroffers to a seller's asking price. Escrow is also on the long term roadmap but its not something we can fully deliver in 4 weeks. If we sell out sooner and launch sooner then these 2 additional features will probably bleed into the next release.

In the event the SYS team does not deliver SYS I get an automatic refund from escrow, correct? What is 'not delivering SYS'? Failing to deliver a simple wallet with SYS coins and no additional functionality at all? Or not delivering a fully fuctional wallet with the 4 core features operational (no alpha's, bèta's, untested) as listed in the OP?

The second, it is contingent on delivering what we outlined in the preann (4 features, merge mineable, plus normal coin stuff). If we just deliver a clone coin (not happening) you'd get your money back. If we don't deliver at all, of course you get your money back.

Alpha/beta is something we're toying around with but also keep in mind the overhead that takes to manage/respond to feedback and how that may impact our ability to roll out new features on top of the 4 already slated for the launch. Not something we're saying "no" too but something we want to make sure it manageable. We have been testing Syscoin for almost 2months now, so I wouldn't call it untested but more testing never hurts.

[slex]

Disclaimer: Presale purchases are final. In the event the Syscoin Team does not deliver Syscoin, all presale purchases will be refunded back to the originating address from which funds were sent.

And i sent from an exchange , Help? Just in case.

Any answer to this?

In the event that Syscoin fails to deliver, we will be contacting all parties via email for a refund address.

[melfrecords]

Great! I am in

There no such thing as too much testing

[danosphere]

In the event that Syscoin fails to deliver, we will be contacting all parties via email for a refund address.

Just to give that answer some context @slex = Moolah = Escrow. If we fail, Moolah will be contacting all investors to make sure they get their BTC back proper.

[bitcoinwonders010]

In the event that Syscoin fails to deliver, we will be contacting all parties via email for a refund address.

Just to give that answer some context @slex = Moolah = Escrow. If we fail, Moolah will be contacting all investors to make sure they get their BTC back proper.

and to add to that moolah is a registered company in england, considering the law in england, moolah is legit

[snipsnoop]

In the event that Syscoin fails to deliver, we will be contacting all parties via email for a refund address.

Just to give that answer some context @slex = Moolah = Escrow. If we fail, Moolah will be contacting all investors to make sure they get their BTC back proper.

and to add to that moolah is a registered company in england, considering the law in england, moolah is legit

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.

[dzarmush]

Sys has more competitive than Crypti, I  think Crypti has nothing new, but Sys has implemented P2P market in blockchain.

11 times more competitive? Coz it's difference between Sys and Crypti IPO prices. Based on IPO prices Crypti market cap is 750 BTC and Sys market cap is 10 000 BTC. How do you think where investors have more chances to get profit? It means to have x10 profit in Crypti its market cap should be 7500 BTC. To have x10 profit in Sys its market cap should be 100 000 BTC Not gonna argue though. Time will show.

[haggis]

Looked at the promo video and was excited. Then read the coin specs and was getting disappointed (scrypt, POW only, 2B coins)  

[smackii]

In the event that Syscoin fails to deliver, we will be contacting all parties via email for a refund address.

Just to give that answer some context @slex = Moolah = Escrow. If we fail, Moolah will be contacting all investors to make sure they get their BTC back proper.

Great to know this, it made us feel investors feel secure

[smackii]

Looked at the promo video and was excited. Then read the coin specs and was getting disappointed (scrypt, POW only, 2B coins)  

You want other algo's other than scrypt? Network will not be secure.
You want POS and staking? No one is staking their wallets, and get 3 - 10% yearly. It's a waste of electricity, and you can make that percentage in  just a single trade on exchanges.

[bitcoinwonders010]

Sys has more competitive than Crypti, I  think Crypti has nothing new, but Sys has implemented P2P market in blockchain.

11 times more competitive? Coz it's difference between Sys and Crypti IPO prices. Based on IPO prices Crypti market cap is 750 BTC and Sys market cap is 10 000 BTC. How do you think where investors have more chances to get profit? Not gonna argue though. Time will show.

It will indeed

i think your forgetting something. all coins are not to be mined in days so that 10,000btc cap is inaccurate. it will take years. i haven't calculated how many coins there will be by year end but not 2 billion. alot of stuff gonna be happening within 4 weeks. other exchanges yet to add us. this is only the beginning. at the moment we have 1500btc market cap. when dev launches with the features he has said your looking sitting in top 10. we have yet too know which businesses they have spoken too. lots of news coming

[realestmofo]

Looked at the promo video and was excited. Then read the coin specs and was getting disappointed (scrypt, POW only, 2B coins)  

Then let me guess. You decided to stop reading why they did that and went to go post how much scrypt, POW only and 2b coins is disappointing.  

This is how people miss buying in early. They think every coin is a scam and too good to be true.

Everything checks out but people are not willing to look into it. The few errors have been adjusted. If you think something is off then post a detailed response why and everyone will check your work to find out if you are right or wrong.

[wtman]

Will it be tradeable immediately? Whats your email address?