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Author Topic: [ANN] Syscoin- FINAL 2.0 LAUNCHED! *ENCRYPTION, MARKETPLACE, BTC INTEGRATION*  (Read 582122 times)
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mauriek
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November 07, 2014, 05:21:03 AM
 #2541

hmm, perhaps it would be better to have the wallet query a syscoin-sponsored site that then queries another API so that we have control of the currency conversion. could fallback to just using a single currency (usd, euro) in case of stale data...

Website could just use cron to poll updates to the client read only conversion chart about every 15 minutes or so.  This would probably be a better model for security, and if the current syscoin website is cloud based then replication would be a snap.

You guys are so close to what we have been working on creating as a stop-gap solution to this issue until we can integrate a daemon-level solution on top of the new Assets feature- this is excellent discussion.

Right now as a solution to this we're creating what I call a two-way price peg (aka: SysPricePeg lets say, I know maybe not the coolest name). What this does is has several configurable options:
- which exchanges to pull exchange rate from (BTC/SYS), avg price across them
- which exchanges to pull exchange rate from (BTC/FIAT) OR BTC/ALTCOIN if the merchant wants to price their offer in FIAT or altcoin, avg price across them
- update interval (default 10min) - interval at which the cron runs to poll for exchange data
- update threshold (default 3%) - threshold at which to automatically issue an offerupdate to update the offer's SYS price ONLY if the price has changed outside the threshold

Syscoin offers are stored on the blockchain currently, not in any separate p2p database as the blockchain provides for cryptographic proof/validation of service operations where a local database could be much more subject to attacks or hacks but I can see ways to secure this- but still blockchain is best imo.

So what a vendor would do currently is run SysPricePeg in parallel with Blockmarket (as a front end for buyers). SysPricePeg would store the data locally regarding which ONLY which offer guid should be pegged to what price/currency but the setup there is simple; eventually this data will be integrated into the offer data design (something like currencyType and currencyPrice as new data fields).

The above is something we're already almost done with and will be releasing soon as we can- these recent roadbumps have slowed down the train but certainly not stopped it. I need to update the damn roadmap on the website so people have a better idea of the new timelines- its on my todo list. The fact that all these "Darknetmarkets" got taken down today may be a great way for us to demonstrate how SYS decentralized markets can avoid this kind of centralized takedown. We don't support illegal activities of course but this [the risks of centralized markets/data] is one relevant and applicable use case towards which Syscoin could be leveraged quite heavily and effectively.

Development Update!!
We will be promoting Syscoin 0.1.5 RC3 to "production release" this Saturday 11/8 the branch will be merged to master and we will issue new binaries. Pool operators please plan on updating. This information will be sent to the mailing list soon  Smiley


This is exactly why i hold and support sys, currently i'm with the team that developing and designing a market/payment system that can integrate Syscoin system in to daily use for customer in Asia, first term of private financing for the development already delivered, the investors still have no clear idea how to implement this in detail but we present them Syscoin idea and they as seasoned investor absolutely can grasp the potential of the technology and agree to finance the first term of development, now i really hope the Sys team can develop the idea in to reality and we can deliver this to mass market or we have no choice but to adopt more traditional and expensive solution from the financial industry.


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November 07, 2014, 08:16:09 AM
 #2542

Any plans to stop Bittrex from delisting Sys? The volume is almost non-existent.
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November 07, 2014, 08:29:31 AM
 #2543

hmm, perhaps it would be better to have the wallet query a syscoin-sponsored site that then queries another API so that we have control of the currency conversion. could fallback to just using a single currency (usd, euro) in case of stale data...

Website could just use cron to poll updates to the client read only conversion chart about every 15 minutes or so.  This would probably be a better model for security, and if the current syscoin website is cloud based then replication would be a snap.

You guys are so close to what we have been working on creating as a stop-gap solution to this issue until we can integrate a daemon-level solution on top of the new Assets feature- this is excellent discussion.

Right now as a solution to this we're creating what I call a two-way price peg (aka: SysPricePeg lets say, I know maybe not the coolest name). What this does is has several configurable options:
- which exchanges to pull exchange rate from (BTC/SYS), avg price across them
- which exchanges to pull exchange rate from (BTC/FIAT) OR BTC/ALTCOIN if the merchant wants to price their offer in FIAT or altcoin, avg price across them
- update interval (default 10min) - interval at which the cron runs to poll for exchange data
- update threshold (default 3%) - threshold at which to automatically issue an offerupdate to update the offer's SYS price ONLY if the price has changed outside the threshold

Syscoin offers are stored on the blockchain currently, not in any separate p2p database as the blockchain provides for cryptographic proof/validation of service operations where a local database could be much more subject to attacks or hacks but I can see ways to secure this- but still blockchain is best imo.

So what a vendor would do currently is run SysPricePeg in parallel with Blockmarket (as a front end for buyers). SysPricePeg would store the data locally regarding which ONLY which offer guid should be pegged to what price/currency but the setup there is simple; eventually this data will be integrated into the offer data design (something like currencyType and currencyPrice as new data fields).

The above is something we're already almost done with and will be releasing soon as we can- these recent roadbumps have slowed down the train but certainly not stopped it. I need to update the damn roadmap on the website so people have a better idea of the new timelines- its on my todo list. The fact that all these "Darknetmarkets" got taken down today may be a great way for us to demonstrate how SYS decentralized markets can avoid this kind of centralized takedown. We don't support illegal activities of course but this [the risks of centralized markets/data] is one relevant and applicable use case towards which Syscoin could be leveraged quite heavily and effectively.

Development Update!!
We will be promoting Syscoin 0.1.5 RC3 to "production release" this Saturday 11/8 the branch will be merged to master and we will issue new binaries. Pool operators please plan on updating. This information will be sent to the mailing list soon  Smiley

The update threshold seems like a good idea. I would probably tweak the default percent lower, as 3 percent is kind of a large amount for a shop to lose. Sometimes profit margins aren't even that high! Also due to the size of the current syscoin market, one could manipulate the price to get a larger-ticket item for less Fiat. Just something to consider.

As I was building out the Web front end for the marketplace, a couple of things stood out to me that we need to consider or include.

  • There is a strong need for a multidimensional array for the storage of image path and alt/title text.
  • A video field (perhaps just a YouTube link)  that could be easily manipulated by a dev.
  • I see that there is a quantity field; Quantity discounts are often used by bigger merchants, and if we want this to be seriously adopted by real stores we need to provide that option as well.
  • I don't recall if there was a shipping cost field, but a multiple select for that would be good. Or if not a field in the client, perhaps it could  be done via post code in the web client (next day, normal, etc.).


That's it for now, but I will keep thinking on this. For mass adoption it needs the features expect-let's give them what they want. Thanks for posting the update, danosphere. It always makes us feel better hearing about something other than he who shall not be named.

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November 07, 2014, 09:53:59 AM
 #2544


If we can get a new company or old to start taking alts for $$$ then we can start to break this cycle of pumps and dumps. Vault of Satoshi is only one I know of that does this, but they only serve Canada right now, we need to reach more nations.

Unfortunately they are not adding new coins to their platform right now. Not sure why.

Sys is out of luck in that regard Sad

How did trying to get added to Bittylicious(UK company) go??, that wld help

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SmokeJoe
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November 07, 2014, 10:19:25 AM
 #2545

I hate it when people in crypto pretend that everything is all right when it is not. "So why won't you sell?", they ask. The thing is that there is noone here to buy it from me. People are literally no longer interested in this coin. We are a bunch of bagholders and it will remain so until something is done. New features? Who cares about them if they are just a curiosiy that won't ever go mainstream. There are so many coins desperately trying to return. Is there any plan to save ICO investors money? Some updates that don't even make it to the crypto mainstream are not a plan. Paying for a professional PR (which this coin lacked from the beginning), building buy walls, cooperating with pumpers, diversifying exhcanges (we will be delisted from Bittrex soon) is a plan. And chasing Alex Green? Doesn't make sense. Guy is probably gone. Even Mark Karpeles is gone and there was much more evidence against him. Why waste your money for lawyers that won't change anything? Use it to boos the coin, build some buy walls at 50 satoshi levels etc. Whenever someone comes here and asks about some real action he is tagged as fudder and dismissed. For many month we've been doing it that way - maybe it's time to try something different?
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November 07, 2014, 10:25:32 AM
 #2546

Any plans to stop Bittrex from delisting Sys? The volume is almost non-existent.

What the fuck are you on about?? FUD/Troll attempt???  Bittrex delists coins with under 0.2 BTCS vol every day for over a week. Sys has 1-3 BTCs vol most days!!

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.Reserve Your Rights.
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November 07, 2014, 10:29:22 AM
 #2547

Any plans to stop Bittrex from delisting Sys? The volume is almost non-existent.

What the fuck are you on about?? FUD/Troll attempt???  Bittrex delists coins with under 0.2 BTCS vol every day for over a week. Sys has 1-3 BTCs vol most days!!

Go to Bittrex now, look at the volume: it is 0.9 BTC now.
Obviously it is not 0.2 BTC but compared to what it used to be, you know where we are heading.
I am trying to protect here your and mine investment. Better act now than in a last minute.
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November 07, 2014, 10:32:44 AM
 #2548

Any plans to stop Bittrex from delisting Sys? The volume is almost non-existent.

What the fuck are you on about?? FUD/Troll attempt???  Bittrex delists coins with under 0.2 BTCS vol every day for over a week. Sys has 1-3 BTCs vol most days!!
sys need exchange to bring the holders, even the dropping price.
but we believe in the dev team after the scamming.

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November 07, 2014, 10:36:27 AM
 #2549


If we can get a new company or old to start taking alts for $$$ then we can start to break this cycle of pumps and dumps. Vault of Satoshi is only one I know of that does this, but they only serve Canada right now, we need to reach more nations.

Unfortunately they are not adding new coins to their platform right now. Not sure why.

Sys is out of luck in that regard Sad

How did trying to get added to Bittylicious(UK company) go??, that wld help

Got main contact and spoke a few times to the owner, but it's generally getting the market for Syscoin within the UK here. At present, you can use a similar service https://coinerz.co.uk to purchase Syscoin using GBP/Fiat. We also worked a liason with a very very big platform / gateway for turning in your Syscoin to purchase Apple Vouchers, Amazon Vouchers, as well as gift cards for GAME UK, Steam that's all sorted - we just need to pop that greenlight to them.

We want to push the new line up of Syscoin implementations in the right way, we dont just want to say 'Hey - you can use Syscoin here' and not push it, that wont help anyone. At present with the litigation in process we are merely building the partnerships for a massive growth period for Syscoin that Promotion will also be tied in with the Development of Syscoin and features.

For security, your account has been locked. Email acctcomp15@theymos.e4ward.com
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November 07, 2014, 10:38:44 AM
 #2550

Any plans to stop Bittrex from delisting Sys? The volume is almost non-existent.

What the fuck are you on about?? FUD/Troll attempt???  Bittrex delists coins with under 0.2 BTCS vol every day for over a week. Sys has 1-3 BTCs vol most days!!
sys need exchange to bring the holders, even the dropping price.
but we believe in the dev team after the scamming.

I think there is noone here that blames developers for the current situation.
They did a great coin but it had terrible PR.
Some people imply that Sys is beyond saving but if we change something we can reverse the price drop.
Scamming has nothing to do with it - the price was going down already before Moolah scammed us. Don't you see that winning this legal action (which might take YEARS) won't change anything?
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November 07, 2014, 10:39:56 AM
 #2551

I hate it when people in crypto pretend that everything is all right when it is not. "So why won't you sell?", they ask. The thing is that there is noone here to buy it from me. People are literally no longer interested in this coin. We are a bunch of bagholders and it will remain so until something is done. New features? Who cares about them if they are just a curiosiy that won't ever go mainstream. There are so many coins desperately trying to return. Is there any plan to save ICO investors money? Some updates that don't even make it to the crypto mainstream are not a plan. Paying for a professional PR (which this coin lacked from the beginning), building buy walls, cooperating with pumpers, diversifying exhcanges (we will be delisted from Bittrex soon) is a plan. And chasing Alex Green? Doesn't make sense. Guy is probably gone. Even Mark Karpeles is gone and there was much more evidence against him. Why waste your money for lawyers that won't change anything? Use it to boos the coin, build some buy walls at 50 satoshi levels etc. Whenever someone comes here and asks about some real action he is tagged as fudder and dismissed. For many month we've been doing it that way - maybe it's time to try something different?

So you are saying SYS should not chase Ryan Kennedy and instead should cooperate with pumpers. Think you got into the wrong coin here!! SYS are trying to build a seriously innovative coin here that could easilly go mainstream. SYS is and never was a Pump and Dump. If you cant handle market forces and bumps in the road without being a crybaby, crypto probably isnt for you, id sell up and move on, if you are worried about not finding buyers, ill buy your coins off you @ a reasonable price.

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.Reserve Your Rights.
Zebedee23
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November 07, 2014, 10:44:01 AM
 #2552

Any plans to stop Bittrex from delisting Sys? The volume is almost non-existent.

What the fuck are you on about?? FUD/Troll attempt???  Bittrex delists coins with under 0.2 BTCS vol every day for over a week. Sys has 1-3 BTCs vol most days!!
sys need exchange to bring the holders, even the dropping price.
but we believe in the dev team after the scamming.

I think there is noone here that blames developers for the current situation.
They did a great coin but it had terrible PR.
Some people imply that Sys is beyond saving but if we change something we can reverse the price drop.
Scamming has nothing to do with it - the price was going down already before Moolah scammed us. Don't you see that winning this legal action (which might take YEARS) won't change anything?
actually before the Moolah shit blew up Sys had gone from 200 to 400 sats and was sitting stably around 400.

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.Reserve Your Rights.
SmokeJoe
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November 07, 2014, 10:49:18 AM
 #2553

I hate it when people in crypto pretend that everything is all right when it is not. "So why won't you sell?", they ask. The thing is that there is noone here to buy it from me. People are literally no longer interested in this coin. We are a bunch of bagholders and it will remain so until something is done. New features? Who cares about them if they are just a curiosiy that won't ever go mainstream. There are so many coins desperately trying to return. Is there any plan to save ICO investors money? Some updates that don't even make it to the crypto mainstream are not a plan. Paying for a professional PR (which this coin lacked from the beginning), building buy walls, cooperating with pumpers, diversifying exhcanges (we will be delisted from Bittrex soon) is a plan. And chasing Alex Green? Doesn't make sense. Guy is probably gone. Even Mark Karpeles is gone and there was much more evidence against him. Why waste your money for lawyers that won't change anything? Use it to boos the coin, build some buy walls at 50 satoshi levels etc. Whenever someone comes here and asks about some real action he is tagged as fudder and dismissed. For many month we've been doing it that way - maybe it's time to try something different?

So you are saying SYS should not chase Ryan Kennedy and instead should cooperate with pumpers. Think you got into the wrong coin here!! SYS are trying to build a seriously innovative coin here that could easilly go mainstream. SYS is and never was a Pump and Dump. If you cant handle market forces and bumps in the road without being a crybaby, crypto probably isnt for you, id sell up and move on, if you are worried about not finding buyers, ill buy your coins off you @ a reasonable price.

Can't you see that we've been going downhill since the launch? There is bunch of people pretending that everything is fine while it is not.
Building buy walls and bringing the coin up would attract new people.
SmokeJoe
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November 07, 2014, 10:50:11 AM
 #2554

Any plans to stop Bittrex from delisting Sys? The volume is almost non-existent.

What the fuck are you on about?? FUD/Troll attempt???  Bittrex delists coins with under 0.2 BTCS vol every day for over a week. Sys has 1-3 BTCs vol most days!!
sys need exchange to bring the holders, even the dropping price.
but we believe in the dev team after the scamming.

I think there is noone here that blames developers for the current situation.
They did a great coin but it had terrible PR.
Some people imply that Sys is beyond saving but if we change something we can reverse the price drop.
Scamming has nothing to do with it - the price was going down already before Moolah scammed us. Don't you see that winning this legal action (which might take YEARS) won't change anything?
actually before the Moolah shit blew up Sys had gone from 200 to 400 sats and was sitting stably around 400.

Remind me, how many times after the launch the Sys price was actually above the ICO price? If the current price is so good why there arent hundreds of BTC buy support?
stereotype
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November 07, 2014, 10:51:57 AM
 #2555

@SmokeJoe

You appear to be obsessed with price/trading. Why not start you're own SYS trading thread?
Qiuyue201
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November 07, 2014, 10:53:19 AM
 #2556

Is there a way to see the whole order book, not just the top offers? I would like to see how many BTC there i to the ICO price.
SmokeJoe
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November 07, 2014, 10:54:32 AM
 #2557

@SmokeJoe

You appear to be obsessed with price/trading. Why not start you're own SYS trading thread?

I understand that you are an idealist that doesn't care about the coin's price and it might be as well 20 satoshi for you or delisted from the main excahnges as long as it has some nice features?
HKBvM
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November 07, 2014, 11:14:14 AM
 #2558

Is there a way to see the whole order book, not just the top offers? I would like to see how many BTC there i to the ICO price.

No there isnt, I asked bittrex a couple of times already.

even if there was the number wouldnt have any meaning anyway.
Qiuyue201
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November 07, 2014, 11:22:08 AM
 #2559

Is there a way to see the whole order book, not just the top offers? I would like to see how many BTC there i to the ICO price.

No there isnt, I asked bittrex a couple of times already.

even if there was the number wouldnt have any meaning anyway.

I am just curious how big is the barrier separating us from the initial price of 540 satoshi - is it 10 BTC or 100 BTC?
Zebedee23
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November 07, 2014, 11:24:13 AM
 #2560

Is there a way to see the whole order book, not just the top offers? I would like to see how many BTC there i to the ICO price.
Dunno but when Sys was around 400 about a month ago, i think there were only 10-20 BTCS to 500. Certainly not a crazy amount. obviously now much more lol, but nothing hard work perseverance and moving along the timeline with development cant fix.

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.Reserve Your Rights.
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