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

[fastminer]

If regular phases does not sell out on August 16th ,How to distribute unsold Syscoin ？

We only mine the coins that is sold.

NO
I want to return my money
Outright fraud
Why can't the remaining shares distributed to investors
If 200 BTC stay to the end
How to safeguard the interests of investors
Not fair
Unsold stocks is not the responsibility of the investors

how is it fraud. there will be no remaining shares. the amount of coins bought in ipo will mined no more. there will not be a minimum of 1500btc worth of coins on launch that is max. the rest will be mined.

OMG i never knew that myself. so the less investors we have the better for us on launch, though i want dev target to hit as it will help us become a giant in crypto. im hoping this can replace dogecoin. $200m market cap come on

[Len]

If regular phases does not sell out on August 16th ,How to distribute unsold Syscoin ？

We only mine the coins that is sold.

NO
I want to return my money
Outright fraud
Why can't the remaining shares distributed to investors
If 200 BTC stay to the end
How to safeguard the interests of investors
Not fair
Unsold stocks is not the responsibility of the investors

how is it fraud. there will be no remaining shares. the amount of coins bought in ipo will mined no more. there will not be a minimum of 1500btc worth of coins on launch that is max. the rest will be mined.

OMG i never knew that myself. so the less investors we have the better for us on launch, though i want dev target to hit as it will help us become a giant in crypto. im hoping this can replace dogecoin. $200m market cap come on

yes the less investors better for us, it would be better for us for them to find out when it launches with a low market cap that will drive a lot of investors to buy when it hist the exchange (admittedly selfish point of view haha)

[Len]

if say only 250BTC gets sold in the presale (unlikely) the market cap will only be $356,125.  The only downside to that scenario is that the devs would control 54.54% of the market at launch

[Len]

only the bought coins will be premined, mining schedule will continue as normal, it is a positive for investors.

[Yuzu]

I still don't understand why people can't ask these questions before investing money.  The devs have better things to set up a return system for weak hands.  It says clearly in the instructions that there will only be returns under certain conditions.  Don't put in the money if you're not willing to abide!

[danosphere]

I still don't understand why people can't ask these questions before investing money.  The devs have better things to set up a return system for weak hands.  It says clearly in the instructions that there will only be returns under certain conditions.  Don't put in the money if you're not willing to abide!

Seriously! We want to work on the coin! Not reminding people to read. Replying to the same questions 10x in a day eats up a day that could otherwise be spent on feature development.

Read what has already been posted. I'll be putting together an updated FAQ covering most of this today! Soon as I can get out from under the redundant questions and misplaced accusations of fraud 

[sidhujag]

I still don't understand why people can't ask these questions before investing money.  The devs have better things to set up a return system for weak hands.  It says clearly in the instructions that there will only be returns under certain conditions.  Don't put in the money if you're not willing to abide!

Seriously! We want to work on the coin! Not reminding people to read. Replying to the same questions 10x in a day eats up a day that could otherwise be spent on feature development.

Read what has already been posted. I'll be putting together an updated FAQ covering most of this today! Soon as I can get out from under the redundant questions and misplaced accusations of fraud 

Hi Dan I had some technical questions i had to ask twice and still no response any chance u can take a look? The whitepaper is too vague.

[Winslow Strong]

You are trying to hardcode in a market cap by setting a fixed IPO price for the presale.  IMO this is not preferable to e.g. setting a cap for the presale (and hence the price) and allowing a smaller syscoin price if less presale funds come in by distributing the entire 15% of the presale coins to the IPO funders proportionately.  This allows for price discovery.  

Devs, what is your logic for price-fixing the IPO? How is this better for investors?

[britney]

If he kept 300 BTC at the end of the day
Reward reserves still account for 3% of the total
Initial public offering of stock will be cut to 3%
What is the point of the whole IPO plans?
You are in accordance with the 1500 BTC, 15% of the IPO plans
If you cannot achieve the intended target, let investors take a loss?

[Winslow Strong]

At the price of 0.00000465 BTC/SYS you are pricing at an implied market cap (when all coins are released) of 4.65x10^(-6)*2x10^(9) =  9.3x10^3 BTC, i.e. around $5.75m.  This doesn't leave much potential upside to investors, at least not enough to compensate for the severe risk we take in IPOing an altcoin.

[sidhujag]

At the price of 0.00000465 BTC/SYS you are pricing at an implied market cap (when all coins are released) of 4.65x10^(-6)*2x10^(9) =  9.3x10^3 BTC, i.e. around $5.75m.  This doesn't leave much potential upside to investors, at least not enough to compensate for the severe risk we take in IPOing an altcoin.

But all coins r released sometime down the line.. who knows if even usd exists then.

[fastminer]

At the price of 0.00000465 BTC/SYS you are pricing at an implied market cap (when all coins are released) of 4.65x10^(-6)*2x10^(9) =  9.3x10^3 BTC, i.e. around $5.75m.  This doesn't leave much potential upside to investors, at least not enough to compensate for the severe risk we take in IPOing an altcoin.

again do your calculation how can we have a marketcap of $5.75m when the max btc in ipo can only be 1500btc at current btc prices that would be a cap of $944,000. you do know the coins are to be mined over years not days. so if you thought there is still potential at $5.75 then we are bargain right now as that is like 5x times your money. as we near launch date people will invest and anyone with misconception of fraud. dev does not have the btc moolah exchange does. they have clearly stated as long as what dev says in ann is released btc will be given. if dev fails to deliver btc will be refunded by moolah no dev. moolah has our btc. it is safe.

[snipsnoop]

Also by setting a fixed price we control the initial cost of the coin so miner cant dump for insane profits and lower the price by a huge amount.
This is done to protect people who buy in the pre-sale.

[snipsnoop]

At the price of 0.00000465 BTC/SYS you are pricing at an implied market cap (when all coins are released) of 4.65x10^(-6)*2x10^(9) =  9.3x10^3 BTC, i.e. around $5.75m.  This doesn't leave much potential upside to investors, at least not enough to compensate for the severe risk we take in IPOing an altcoin.

again do your calculation how can we have a marketcap of $5.75m when the max btc in ipo can only be 1500btc at current btc prices that would be a cap of $944,000. you do know the coins are to be mined over years not days. so if you thought there is still potential at $5.75 then we are bargain right now as that is like 5x times your money. as we near launch date people will invest and anyone with misconception of fraud. dev does not have the btc moolah exchange does. they have clearly stated as long as what dev says in ann is released btc will be given. if dev fails to deliver btc will be refunded by moolah no dev. moolah has our btc. it is safe.

+1

[Len]

if devs were to give the investors the remaining unsold coins from the IPO in proportion to their investments, we would all still have the same percentage of total coins at launch, it makes no difference

[rycon87]

I hate to say it, but I too think it's only fair to distribute remaining unsold coins to investors. I mean -- we are the early adopters. We are the ones who believe in Syscoin enough to take part in this relatively risky presale. We are the ones giving the funding needed so that Syscoin can take off as we feel it should. It seems only right that the earliest risk takers should enjoy the greatest reward, since we believed in Syscoin from the very start.

[sidhujag]

ya me too id prob jump in if this were the case... and to get ppl to buy now allocate say 40% in phase
1 and 60% in phase2 so u get more coins cheaper in phase 1

[GTO911]

Also by setting a fixed price we control the initial cost of the coin so miner cant dump for insane profits and lower the price by a huge amount.
This is done to protect people who buy in the pre-sale.

Do you even know what you are saying?

Setting a fixed sky high price, miner WILL dump ASAP.

[nomoreheroes7]

Hmm...well since it looks like the idea is to only mine the amount that is sold during the presale, what will this mean for the mining structure? As in, say only 150 million of the 300 million are sold, will the reward structure stay the same and the same amount of coins be mined daily as if all 300 million were sold? If that's the case, then it definitely does seem to be in the investors' best interest to not see all presale coins sold, as it would give more room for growth due to the reduced market cap and coins available for sale. But then again...if all coins aren't sold, that would imply the price was too high and it would be unlikely that price would sustain at an exchange, right? Or maybe not; just thinking aloud here...

[smackii]

The problem here is that the price is already set, total coins to be distributed, and total BTC to be expected if all coins are sold.

It should be flexible, IPO like this should follow like what VIA did. Coin price is set by how coins are there to pre-sale divided by how many investors invested.

VIA is like: X / Y = unknown

while

Sys is like : X / Y = Z

All rules are set, no space for the market or people to suggest or what.

Just like Martial law, no democracy lol