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

[Sysbuster]

The upgrade failed. Sell and save yourself.

[Conurtrol]

Looks like Moolah has already made its decision, and so has the market.

These so-called "devs" will abandon the coin soon after the escrow is released to them.
And, even if they don't, they're incompetent and they're not professional C++ developers or effective project managers, for that matter.

The only hope for SYS as far as market confidence  is new management with hard-core development expertise and street cred.

I disagree with the Moolah CEO - I think the opportunity cost and reputational damage will be more severe than you expect. You think you would've learned from Mintpal.

If we decide not to refund, the escrow will be released in a series of staggered phases to ensure continued development. We are also considering contributing an experienced developer to the team temporarily to help them with minor issues.

While I am sure there will be some damage, we cannot breach our contract and the terms stipulated.

How will you judge if the terms have been met? My wallet won't open. That is a fact. Others have said the same.

[Bitcycle]

Looks like Moolah has already made its decision, and so has the market.

These so-called "devs" will abandon the coin soon after the escrow is released to them.
And, even if they don't, they're incompetent and they're not professional C++ developers or effective project managers, for that matter.

The only hope for SYS as far as market confidence  is new management with hard-core development expertise and street cred.

I disagree with the Moolah CEO - I think the opportunity cost and reputational damage will be more severe than you expect. You think you would've learned from Mintpal.

If we decide not to refund, the escrow will be released in a series of staggered phases to ensure continued development. We are also considering contributing an experienced developer to the team temporarily to help them with minor issues.

While I am sure there will be some damage, we cannot breach our contract and the terms stipulated.

Was this series of staggered phases specified in the initial terms?  Where?

After all, you can't violate your initial terms.

[subseaguru]

are there anymore node? i only have 8 in the conf.

[peels]

2 billion coins in total

i wonder how high this coin can actualy go ( i personaly think 100 sat per coin is a lot ) wen all 2 billion coins are in circulation

what did the ipo go for 500 sat a coin ? ( kinda pricy right ?

Presale was 300,000,000 coins

After 18 months there will be a total of 82,944,000 coins mined.

After 6.5 years there will be a total of 265,420,800 coins mined.

265,420,800 + 300,000,000 + 60,000,000 (dev premine and bounties) = 625,420,800

625,420,800 at 518 sats = 3239btc

3239btc = $1,619,500

So after 6.5 years if the price stays at 518 sats it is 3239btc or $1,619,500 market cap. Don't you think that is kinda small for a market cap 6 years from now? Especially if a lot of people use this coin? Don't you think the price will go up?

After 15.5 years there will be 468,633,600 coins mined. At 518 sats that is $1,215,500 not including the presale or dev or bounty coins.  Coins in 15 years will have multi million market caps. This coin will too.

[sdersdf2]

Looks like Moolah has already made its decision, and so has the market.

These so-called "devs" will abandon the coin soon after the escrow is released to them.
And, even if they don't, they're incompetent and they're not professional C++ developers or effective project managers, for that matter.

The only hope for SYS as far as market confidence  is new management with hard-core development expertise and street cred.

I disagree with the Moolah CEO - I think the opportunity cost and reputational damage will be more severe than you expect. You think you would've learned from Mintpal.

If we decide not to refund, the escrow will be released in a series of staggered phases to ensure continued development. We are also considering contributing an experienced developer to the team temporarily to help them with minor issues.

While I am sure there will be some damage, we cannot breach our contract and the terms stipulated.

I dont think we're talking about damage in the same sense. I'm referring to opportunity cost - in terms of what could've been, which you might never know. You have no idea who might have but will never do business with you as a result of this, and to what extent that's missed business that you might very well need desperately in the future - it's a pretty unstable and heavily manipulated global economy out there with thinning profit margins for most Western businesses (one of the very reasons for cryptocurrencies in the first place).

To describe this coin as functional on day one is laughable - just look at this thread. What percentage of all ICO addresses were able to facilitate transactions? And apparently, it's still dysfunctional. I've never seen such a terrible launch with a slapped-up Litecoin/NXT mish-mash of a wallet.

[slex]

Looks like Moolah has already made its decision, and so has the market.

These so-called "devs" will abandon the coin soon after the escrow is released to them.
And, even if they don't, they're incompetent and they're not professional C++ developers or effective project managers, for that matter.

The only hope for SYS as far as market confidence  is new management with hard-core development expertise and street cred.

I disagree with the Moolah CEO - I think the opportunity cost and reputational damage will be more severe than you expect. You think you would've learned from Mintpal.

If we decide not to refund, the escrow will be released in a series of staggered phases to ensure continued development. We are also considering contributing an experienced developer to the team temporarily to help them with minor issues.

While I am sure there will be some damage, we cannot breach our contract and the terms stipulated.

Was this series of staggered phases specified in the initial terms?  Where?

After all, you can't violate your initial terms.

We can by mutual agreement, this is true of any contract.

Looks like Moolah has already made its decision, and so has the market.

These so-called "devs" will abandon the coin soon after the escrow is released to them.
And, even if they don't, they're incompetent and they're not professional C++ developers or effective project managers, for that matter.

The only hope for SYS as far as market confidence  is new management with hard-core development expertise and street cred.

I disagree with the Moolah CEO - I think the opportunity cost and reputational damage will be more severe than you expect. You think you would've learned from Mintpal.

If we decide not to refund, the escrow will be released in a series of staggered phases to ensure continued development. We are also considering contributing an experienced developer to the team temporarily to help them with minor issues.

While I am sure there will be some damage, we cannot breach our contract and the terms stipulated.

How will you judge if the terms have been met? My wallet won't open. That is a fact. Others have said the same.

At 6PM GMT, we will be moving in to a review period. Others have said that, true; but others have also said they have no problems. It is a clusterfuck of a situation.

[profitofthegods]

2 billion coins in total

i wonder how high this coin can actualy go ( i personaly think 100 sat per coin is a lot ) wen all 2 billion coins are in circulation

what did the ipo go for 500 sat a coin ? ( kinda pricy right ?

Very good point. The number of coins makes the 500 Sat price unsustainable. The realistic price should be max 90 Sat.

I will start to buy the coin when it is at 50 Sat which won't be very long, I predict by the end of the week.

you are just about right

Given how long it will take for all of those coins to come into circulation it will either be worth much more than that by then if it is successful, or it will have failed. Of course that has little bearing on the short term price though.

[teamlottowin]

Looks like Moolah has already made its decision, and so has the market.

These so-called "devs" will abandon the coin soon after the escrow is released to them.
And, even if they don't, they're incompetent and they're not professional C++ developers or effective project managers, for that matter.

The only hope for SYS as far as market confidence  is new management with hard-core development expertise and street cred.

I disagree with the Moolah CEO - I think the opportunity cost and reputational damage will be more severe than you expect. You think you would've learned from Mintpal.

If we decide not to refund, the escrow will be released in a series of staggered phases to ensure continued development. We are also considering contributing an experienced developer to the team temporarily to help them with minor issues.

While I am sure there will be some damage, we cannot breach our contract and the terms stipulated.

Was this series of staggered phases specified in the initial terms?  Where?

After all, you can't violate your initial terms.

yes, please kindly provide the devs their vacation money in full

[john312]

Looks like Moolah has already made its decision, and so has the market.

These so-called "devs" will abandon the coin soon after the escrow is released to them.
And, even if they don't, they're incompetent and they're not professional C++ developers or effective project managers, for that matter.

The only hope for SYS as far as market confidence  is new management with hard-core development expertise and street cred.

I disagree with the Moolah CEO - I think the opportunity cost and reputational damage will be more severe than you expect. You think you would've learned from Mintpal.

If we decide not to refund, the escrow will be released in a series of staggered phases to ensure continued development. We are also considering contributing an experienced developer to the team temporarily to help them with minor issues.

While I am sure there will be some damage, we cannot breach our contract and the terms stipulated.

How will you judge if the terms have been met? My wallet won't open. That is a fact. Others have said the same.

Syscoin is already done.
Devs should concentrare on getting back respect of their investors.
It seems that Syscoin is beyond repairing now.
Moolah had their chance to save their asses but instead they chickened.
Angry investors are going to rape this coin.

If I decide to bet 0.1 BTC that this coin won't get back to 700 satoshi this year will Moolah escrow me? I am serious about this.

[Bitcycle]

Looks like Moolah has already made its decision, and so has the market.

These so-called "devs" will abandon the coin soon after the escrow is released to them.
And, even if they don't, they're incompetent and they're not professional C++ developers or effective project managers, for that matter.

The only hope for SYS as far as market confidence  is new management with hard-core development expertise and street cred.

I disagree with the Moolah CEO - I think the opportunity cost and reputational damage will be more severe than you expect. You think you would've learned from Mintpal.

If we decide not to refund, the escrow will be released in a series of staggered phases to ensure continued development. We are also considering contributing an experienced developer to the team temporarily to help them with minor issues.

While I am sure there will be some damage, we cannot breach our contract and the terms stipulated.

Was this series of staggered phases specified in the initial terms?  Where?

After all, you can't violate your initial terms.

We can by mutual agreement, this is true of any contract.

It's pretty clear you don't have the "mutual agreement" of the parties that gave you the funds to hold in escrow.

Or are they just irrelevant in your mind?

[prix]

slex, devs
What do you think about buy wall at price lower first stage, maybe 420 or 400?
If someone wants to go - welcome, but others will be more confident and in the thread will be less noise.

[Conurtrol]

Looks like Moolah has already made its decision, and so has the market.

These so-called "devs" will abandon the coin soon after the escrow is released to them.
And, even if they don't, they're incompetent and they're not professional C++ developers or effective project managers, for that matter.

The only hope for SYS as far as market confidence  is new management with hard-core development expertise and street cred.

I disagree with the Moolah CEO - I think the opportunity cost and reputational damage will be more severe than you expect. You think you would've learned from Mintpal.

If we decide not to refund, the escrow will be released in a series of staggered phases to ensure continued development. We are also considering contributing an experienced developer to the team temporarily to help them with minor issues.

While I am sure there will be some damage, we cannot breach our contract and the terms stipulated.

Was this series of staggered phases specified in the initial terms?  Where?

After all, you can't violate your initial terms.

We can by mutual agreement, this is true of any contract.

Looks like Moolah has already made its decision, and so has the market.

These so-called "devs" will abandon the coin soon after the escrow is released to them.
And, even if they don't, they're incompetent and they're not professional C++ developers or effective project managers, for that matter.

The only hope for SYS as far as market confidence  is new management with hard-core development expertise and street cred.

I disagree with the Moolah CEO - I think the opportunity cost and reputational damage will be more severe than you expect. You think you would've learned from Mintpal.

If we decide not to refund, the escrow will be released in a series of staggered phases to ensure continued development. We are also considering contributing an experienced developer to the team temporarily to help them with minor issues.

While I am sure there will be some damage, we cannot breach our contract and the terms stipulated.

How will you judge if the terms have been met? My wallet won't open. That is a fact. Others have said the same.

At 6PM GMT, we will be moving in to a review period. Others have said that, true; but others have also said they have no problems. It is a clusterfuck of a situation.

I had no problems with the latest update until about an hour ago. Just so you know.

[vaudvaud]

Anybody having issues with their wallets not working and unable to import their coins, and thinks their computers are working perfectly fine, you can send your private keys to me and I'll test it out for you and even send it to an exchange..    I mean that's totally legit right, nothing to worry about if there is no working wallets and SYS does not work...  

Oh and I'll even do it with my 64bit system...

[slex]

Looks like Moolah has already made its decision, and so has the market.

These so-called "devs" will abandon the coin soon after the escrow is released to them.
And, even if they don't, they're incompetent and they're not professional C++ developers or effective project managers, for that matter.

The only hope for SYS as far as market confidence  is new management with hard-core development expertise and street cred.

I disagree with the Moolah CEO - I think the opportunity cost and reputational damage will be more severe than you expect. You think you would've learned from Mintpal.

If we decide not to refund, the escrow will be released in a series of staggered phases to ensure continued development. We are also considering contributing an experienced developer to the team temporarily to help them with minor issues.

While I am sure there will be some damage, we cannot breach our contract and the terms stipulated.

Was this series of staggered phases specified in the initial terms?  Where?

After all, you can't violate your initial terms.

We can by mutual agreement, this is true of any contract.

It's pretty clear you don't have the "mutual agreement" of the parties that gave you the funds to hold in escrow.

Or are they just irrelevant in your mind?

Changes to reasons to withhold funds, would require public involvement.

Changes to how those funds are released (to be more restrictive), if approved, only requires the approval of ourselves and the Syscoin team.

[sdersdf2]

At 6PM GMT, we will be moving in to a review period. Others have said that, true; but others have also said they have no problems. It is a clusterfuck of a situation.

Clusterf*ck? But hasn't everything been going swimmingly?
Release the escrow to the well-deserving SYS dev team!

[TheMilkman]

Looks like Moolah has already made its decision, and so has the market.

These so-called "devs" will abandon the coin soon after the escrow is released to them.
And, even if they don't, they're incompetent and they're not professional C++ developers or effective project managers, for that matter.

The only hope for SYS as far as market confidence  is new management with hard-core development expertise and street cred.

I disagree with the Moolah CEO - I think the opportunity cost and reputational damage will be more severe than you expect. You think you would've learned from Mintpal.

If we decide not to refund, the escrow will be released in a series of staggered phases to ensure continued development. We are also considering contributing an experienced developer to the team temporarily to help them with minor issues.

While I am sure there will be some damage, we cannot breach our contract and the terms stipulated.

Was this series of staggered phases specified in the initial terms?  Where?

After all, you can't violate your initial terms.

We can by mutual agreement, this is true of any contract.

It's pretty clear you don't have the "mutual agreement" of the parties that gave you the funds to hold in escrow.

Or are they just irrelevant in your mind?

+1

Also if you don't want to provide exit at 518 provide buy wall at 100 satoshi. Losing 80% is still better than Losing it all.

[seek4dream]

slex, devs
What do you think about buy wall at price lower first stage, maybe 420 or 400?
If someone wants to go - welcome, but others will be more confident and in the thread will be less noise.

The only reason the price haven't gone downwards any further is ppl believe there is possiblity of such an arrangement.
How pathetic.

[dasdasdasdasdasd]

Thing is, it's going down to 1 sat. I'm going to establish a bail out wall where everyone can dump so they don't have to go broke. I can help you guys, me and other accounts like "truth123123", "asdasdasdasd..... real talk. You should always listen to those prophets. Coin is broken and it will be broken forever. This is no FUD. I demand refund, rollback and shit like that. I need to get rich now. If something goes wrong it's the end of the world. I'm serious. I'm important.

Needs more red.

[trythisnow]

Let me make a short summary out of this.
1) We had faith in this coin as a moneymaker
2) We invested in this because this was a sure bet we either get satoshi rich or we get back the money
3) Somebody put some damn walls so we can sell and retrieve the investment
4) It seems we bet on the wrong horse now but we still want our money back

You were right , that is no FUD , it's a child crying after he lost his marbles.

Agreed. I see absolutely no reason to give a refund. No other crypto refunds and they have been KNOWN SCAMS. This coin is not a scam, the ICO was final. Deal with it and start spreading good vibes about SYS. Cause there ai'nt no other way you're getting back an ROI otherwise.

Ok another of moronic posts on this thread. 1. show me an ICO of these KNOWN SCAMS which reached 1500 BTC? Answer is none. So the amount at stake is huge.
2. Trust in the ICO was based on moolah' rep and devs promise of a refund if working product is not delivered. That's is why it sold 1500 BTC. Go check another ICOs running right now. Some barely make past 10-20 BTC. Ones hosted on C-CEX/BITTREX etc are touching 100 BTC with effort.

Now there are bound to be comparison with CRYPTI which raised 750 BTC too. But, the price of IPO was super cheap and ICO investors could dump their coins without loss if they were not agreeable to the term of delay.
SYSCOIN had a pricey IPO and then delayed their launch. People buying are stuck and saying shit like NO REFUND or THERE ARE OTHER KNOWN SCAMS is not going to help anyone. Just refund or put a buy wall and let people exit.

I'll address your points.
1. I'm talking about crypto in general. Refunds are just not part of the landscape. You buy, you take the risk. I know of no other ICO close to as large as SYS.
2. Again, the trust in Moolah should be taken as is. He promised to buy back if nothing was delivered to his terms. Read the fineprint HIS terms. Not yours, not mine, HIS. He set the deadline and what counted as an acceptable level of wallet status. It will reach that and the ICO will be released. People may have mis-interpreted Moolah to mean, if you're not 100% happy with your purchase at any time in the future irregardless of what happens, he will buyback your portion of the ICO. He never claimed such a thing. B uy walls, refunds, they all mean that people can exit without being responsible FOR THEIR OWN RISK.
Moolah and Sys devs are not beholden to anyone who makes a claim after they signed the agreement of the ICO.

The price WILL go down. People are angry. Devs made a fumble. But again, the risk was the shareholder's to bear. I for one am holding my coins as I believe this coin will last.

I think you are not getting it through your head:
1. It was because refunds were promised that this coin achieved this size. If not, it would have finished trying to cross 100 BTC. So it was promised, need not be part of this space.

2. You are mistaken, here's another thread which can be quoted - https://bitcointalk.org/index.php?topic=745005.0 . Read it twice and over again. There were no TERMS AT ALL. Moolah might be arbitrating this deal but as you put it those are HIS terms not something which came out of public disclosure.

And while my post will be termed as FUD, its funny that there are people who want to support the coin say stupid things without reading the terms themselves. Read the reward schedule in the OP. There was a promise of a buy support. If not, forget 1500 BTC, these guys wouldn't see past 100 BTC. Now I have to wonder who is more moronic - guys like you or the devs who are fooling the public.