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

[Johnbtc]

good job, I will buy 80 btc for syscoin,

[kirivas_s]

Developers were very smart to price the IPO so high that it eliminates any potential short term pumping and dumping. Likely this won't occur and you need to hold the coin long term. This IPO is not for people that wants to make a quick buck and this should be posted in the OP.

But you can't prevent the miners from dumping

[kirivas_s]

good job, I will buy 80 btc for syscoin,

limit is 25 btc per person

[fastminer]

Developers were very smart to price the IPO so high that it eliminates any potential short term pumping and dumping. Likely this won't occur and you need to hold the coin long term. This IPO is not for people that wants to make a quick buck and this should be posted in the OP.

But you can't prevent the miners from dumping

and you can't prevent people from buying again only 8btc of dumping a day not all miners dump. seriously if you feel threatened by 8btc hahaha

[realestmofo]

Developers were very smart to price the IPO so high that it eliminates any potential short term pumping and dumping. Likely this won't occur and you need to hold the coin long term. This IPO is not for people that wants to make a quick buck and this should be posted in the OP.

But you can't prevent the miners from dumping

OK lets get some miner dumping numbers going to try and make a little sense of this.

Oh no! The price is now 350 sat!!

Why did you buy into the presale and sell at a loss?? At this price if everything gets dumped it is a whole 5 bitcoins a day.

There would have to be people not wanting to buy higher and people still willing to sell at a loss to stay at 350 sat.


Now lets look at the first 15 days as it currently stands.

At 518 sat over the first 15 days that is 114.45btc worth mined.

At 518 sat over the 45 days after that it is 171.45btc worth mined.

If people don't sell below 518 sat presale price then after 60 days 285.9btc worth of syscoin has been mined. If multiple exchanges can't absorb that because everyone doesn't want to support a working product then so be it.  "Everyone" can buy in under presale price but good luck getting 5btc, 10btc, 25btc worth under presale price.

[sdersdf2]

Sad to see a nice coin be a little weird in their ipo numbers. It does seem like you'll be able to buy cheaper when it hits an exchange so I dont understand the incentive to invest right now. Change the numbers a bit to be in favour of investors and you'll have a better long term coin.

Sorry but I dont see anything weird. As we have stated lots of times, this is a pre-sale at a fixed price.
As for the future, nobody can tell. (But in case you can, please send me the lotto numbers).

As dano has said we ARE looking at the the mining numbers and these will likely be revises.

Any changes that would sharply reduce the risk and size of miner dumps would make this coin/IPO more attractive.

[sdersdf2]

I prefer to mine this coin instead of buying in pre-sale, it's too expensive!!!
There are 2 billion coins, IPO price is 465 sats and 518 sats, let's say 490 in average, the market cap will be 2 billion * 490 sats = 9800 BTC, it's too big for a new coin!
If you set a lower fixed price in IPO phase, you can raise more BTCs in pre-sale, it's good for investor,miners and you DEV team, really don't know how the high price is finalized!!

These numbers also give me pause. They exceed Vericoin's and XC's market caps and approach those of Blackcoin, Counterparty, Mastercoin and Monero's. It isn't to say that these marketcap levels aren't achievable by Syscoin, but the question for investors is what kind of room does that leave for growth and a return on our investment? Doesn't seem to leave much, unless I'm missing something.

Basically, with devs arranging to get so much BTC up front - a lot of the potential return is shifted to devs and more of the potential risk to investors. Would appreciate it if devs could address this concern on pricing.

[fastminer]

I prefer to mine this coin instead of buying in pre-sale, it's too expensive!!!
There are 2 billion coins, IPO price is 465 sats and 518 sats, let's say 490 in average, the market cap will be 2 billion * 490 sats = 9800 BTC, it's too big for a new coin!
If you set a lower fixed price in IPO phase, you can raise more BTCs in pre-sale, it's good for investor,miners and you DEV team, really don't know how the high price is finalized!!

These numbers also give me pause. They exceed Vericoin's and XC's market caps and approach those of Blackcoin, Counterparty, Mastercoin and Monero's. It isn't to say that these marketcap levels aren't achievable by Syscoin, but the question for investors is what kind of room does that leave for growth and a return on our investment? Doesn't seem to leave much, unless I'm missing something - would appreciate it if devs could address this concern on pricing.

maybe reduce coins but dev do not reduce price

[sdersdf2]

I prefer to mine this coin instead of buying in pre-sale, it's too expensive!!!
There are 2 billion coins, IPO price is 465 sats and 518 sats, let's say 490 in average, the market cap will be 2 billion * 490 sats = 9800 BTC, it's too big for a new coin!
If you set a lower fixed price in IPO phase, you can raise more BTCs in pre-sale, it's good for investor,miners and you DEV team, really don't know how the high price is finalized!!

These numbers also give me pause. They exceed Vericoin's and XC's market caps and approach those of Blackcoin, Counterparty, Mastercoin and Monero's. It isn't to say that these marketcap levels aren't achievable by Syscoin, but the question for investors is what kind of room does that leave for growth and a return on our investment? Doesn't seem to leave much, unless I'm missing something - would appreciate it if devs could address this concern on pricing.

maybe reduce coins but dev do not reduce price

The higher the IPO price, the lower the potential return (and higher the potential risk) to investors, all things being equal. If reducing the number of coins means increasing the % of outstanding coins (of market cap) that investors ultimately end up getting, that would certainly help make this a better deal for investors.

[fastminer]

I prefer to mine this coin instead of buying in pre-sale, it's too expensive!!!
There are 2 billion coins, IPO price is 465 sats and 518 sats, let's say 490 in average, the market cap will be 2 billion * 490 sats = 9800 BTC, it's too big for a new coin!
If you set a lower fixed price in IPO phase, you can raise more BTCs in pre-sale, it's good for investor,miners and you DEV team, really don't know how the high price is finalized!!

These numbers also give me pause. They exceed Vericoin's and XC's market caps and approach those of Blackcoin, Counterparty, Mastercoin and Monero's. It isn't to say that these marketcap levels aren't achievable by Syscoin, but the question for investors is what kind of room does that leave for growth and a return on our investment? Doesn't seem to leave much, unless I'm missing something - would appreciate it if devs could address this concern on pricing.

maybe reduce coins but dev do not reduce price

The higher the IPO price, the lower the potential return (and higher the potential risk) to investors, all things being equal. If reducing the number of coins means increasing the % of outstanding coins (of market cap) that investors ultimately end up getting, that would certainly help make this a better deal for investors.

investors want price lower to make a quick buck. those buying at these prices see a future for the coin. lower price will cause dump. sorry price should stay the same, only short termer's want it lower. as for the return on the coin, with our features the market cap will way higher from where we are. you want a lower price you can wait, but it will only go up. remember features will be launched when ipo closed, so those waiting on sidelines, will just end up buying higher once features are out. no price reduction only coin reduction

[realestmofo]

I prefer to mine this coin instead of buying in pre-sale, it's too expensive!!!
There are 2 billion coins, IPO price is 465 sats and 518 sats, let's say 490 in average, the market cap will be 2 billion * 490 sats = 9800 BTC, it's too big for a new coin!
If you set a lower fixed price in IPO phase, you can raise more BTCs in pre-sale, it's good for investor,miners and you DEV team, really don't know how the high price is finalized!!

These numbers also give me pause. They exceed Vericoin's and XC's market caps and approach those of Blackcoin, Counterparty, Mastercoin and Monero's. It isn't to say that these marketcap levels aren't achievable by Syscoin, but the question for investors is what kind of room does that leave for growth and a return on our investment? Doesn't seem to leave much, unless I'm missing something.

Basically, with devs arranging to get so much BTC up front - a lot of the potential return is shifted to devs and more of the potential risk to investors. Would appreciate it if devs could address this concern on pricing.

Over next 17 months 315,187,200 coins will be mined. At 518 sat that is 1632 bitcoins. If presale buyers HOLD 17 months and the price stayed at 518 sat over the next 17 months then the market cap on what was mined will be $1,028,160

Factor in the presale numbers and devs coins then after 17 months we got around a $3,000,000 market cap at 518 sat.

In 17 months a $3,000,000 market cap will be small.  In 17 months syscoin will either make you broke (bad investment) or rich (good investment).

[sdersdf2]

Developers were very smart to price the IPO so high that it eliminates any potential short term pumping and dumping. Likely this won't occur and you need to hold the coin long term. This IPO is not for people that wants to make a quick buck and this should be posted in the OP.

If that's part of the intention, that should indeed be stated - it helps explain some things.

[fastminer]

this is a runaway train not gonna stop. things will move fast here. people talking about $944k market cap too high, look at other coins with new features how they rose. at the moment people could say no features yet etc. when they are out and working you will see it go up, plus we will get more details on their partners.

[sdersdf2]

Again, his numbers are flawed..

What's the total number of coins outstanding expected to be by the end of Year 1 (12 months from launch)?

[KonstantinosM]

I wonder if I could legally use this platform to open a restaurant and pay dividents for a couple of years to give returns to the investors...

I can out-cook any shit that the nearby restaurants are selling as Greek food. They are a disgrace in my opinion. Although I do have some high taste standards when it comes to food.

I bet I could crowd-fund it, but I don't want to receive charity and share a fair pre-determined amount to where the capital came from.



Wouldn't it be relatively easy to legislate this coin? Wouldn't a simple search in some database make a business on the blockchain perfectly auditable (at least the part that is on the blockchain?)

I wonder why the government resists this even though it would be on everyone's best interest, even on theirs'.

[snipsnoop]

Again, his numbers are flawed..

What's the total number of coins outstanding expected to be by the end of Year 1 (12 months from launch)?

Sorry not ignoring you, just busy. will revert back later.

[rycon87]

A few observations:

The general consensus around here appears to be that the IPO is overpriced. I personally feel the price is decent, but could definitely use a bit more room for growth one way or another (by reducing max coins is an interesting idea). However, the appearance of the IPO being overpriced is not good; it means investors are scared to take a chance with Syscoin and the momentum is instantly killed from all the pricing FUD (see how the IPO investments have slowed). Because of this, I think it's imperative the devs make a change to something in regards to the coin to make investors feel a bit more comfortable in giving Syscoin a shot, or else the coin will come flopping out the gate at launch day with zero momentum due to the general negative air surrounding the price. If there's one thing a new coin needs to succeed right off the bat, it's a happy and enthusiastic community but unfortunately I'm not seeing much positive talk around here at all since the price was released.

Also, just wanting room for growth does not imply the investor is only looking to pump and dump and reap short term profits; decent profits are what we're all ultimately after but we also want to see the innovations provided by Syscoin succeed. It's just that much harder to rally behind the coin when we know there's so much extra risk involved due to perceived little room for growth and shaky investor confidence.

On another note, I feel the biggest advantage Syscoin will have when it hits the exchanges is the DECENTRALIZED MARKETPLACE. This is what non-tech savvy investors are waiting for and this WILL be the next big thing in crypto. I feel it's extremely important to emphasize Syscoin's innovations in this realm, and the best way to showcase this innovation is by having a very user-friendly GUI that rivals the likes of eBay available at launch. If people clearly see they can instantly and easily begin selling whatever the hell they want on the world's first major decentralized marketplace, I can't imagine demand for this coin not going insane.

[yampi]

I wonder if I could legally use this platform to open a restaurant and pay dividents for a couple of years to give returns to the investors...

I can out-cook any shit that the nearby restaurants are selling as Greek food. They are a disgrace in my opinion. Although I do have some high taste standards when it comes to food.

I bet I could crowd-fund it, but I don't want to receive charity and share a fair pre-determined amount to where the capital came from.



Wouldn't it be relatively easy to legislate this coin? Wouldn't a simple search in some database make a business on the blockchain perfectly auditable (at least the part that is on the blockchain?)

I wonder why the government resists this even though it would be on everyone's best interest, even on theirs'.

Because rich companies bribe governments to crush new ideas and small businesses

[KonstantinosM]

Again, his numbers are flawed..

What's the total number of coins outstanding expected to be by the end of Year 1 (12 months from launch)?

Something like:

21600*1024 + (64800-21600)*768 + 280800-(64800+21600)*512 + (((365-240)*(24*60)*512)+ the premine = 225,388,800 +Premine = 525 Million

Or different if the pre-mine affects the schedule differently (which I don't think it should).

This is a back of the envelop calculation with a high chance of being totally bollocks.

[cassius69]

since the devs are an award winning crew...what awards have they won?