[ANN] Syscoin- FINAL 2.0 LAUNCHED! *ENCRYPTION, MARKETPLACE, BTC INTEGRATION*

[jokumat]

1.- You are litigating with that Moolah guy because they stole some 750 BTC from you ("you" being Dan and his team of 7 developers?). Those 750-odd BTC were the result of selling 15% of the 2.0 billion coins in the presale? That would indicate people paid 250 sat per in the pre-sale of those 300 million SYS. Now, with that money gone, how is this project sustaining itself? I am assuming that the 2% for the devs is long gone (15 BTC) and so is the 1% (7.5 BTC) for promotions... Also I would like to know who is fronting the legal costs implied.

If I remember correctly ICO was 1500 BTC. Price was 465 sats per coin - first five hundreds btcs, 518 sats per coin the rest.

Launch was not a lucky one. 250 btc of ICO funds were wasted in an attempt to stabilize the market (above 500 sats). This also means devs basically "bought" 50 mil sys using 250 btc from ICO. And later 750 btc was misappropriated by moolah.

[1715002330]

1715002330

[1715002330]

1715002330

[barabbas]

1.- You are litigating with that Moolah guy because they stole some 750 BTC from you ("you" being Dan and his team of 7 developers?). Those 750-odd BTC were the result of selling 15% of the 2.0 billion coins in the presale? That would indicate people paid 250 sat per in the pre-sale of those 300 million SYS. Now, with that money gone, how is this project sustaining itself? I am assuming that the 2% for the devs is long gone (15 BTC) and so is the 1% (7.5 BTC) for promotions... Also I would like to know who is fronting the legal costs implied.

If I remember correctly ICO was 1500 BTC. Price was 465 sats per coin - first five hundreds btcs, 518 sats per coin the rest.

Launch was not a lucky one. 250 btc of ICO funds were wasted in an attempt to stabilize the market (above 500 sats). This also means devs basically "bought" 50 mil sys using 250 btc from ICO. And later 750 btc was misappropriated by moolah.

Thanks for your recollection.

Obviously the devs are not interested in giving any relevant info to  new potential investors, therefore any interest in this project will probably result in financial losses and a lot of unnecessary frustration.

Moving on.

[sidhujag]

1.- You are litigating with that Moolah guy because they stole some 750 BTC from you ("you" being Dan and his team of 7 developers?). Those 750-odd BTC were the result of selling 15% of the 2.0 billion coins in the presale? That would indicate people paid 250 sat per in the pre-sale of those 300 million SYS. Now, with that money gone, how is this project sustaining itself? I am assuming that the 2% for the devs is long gone (15 BTC) and so is the 1% (7.5 BTC) for promotions... Also I would like to know who is fronting the legal costs implied.

If I remember correctly ICO was 1500 BTC. Price was 465 sats per coin - first five hundreds btcs, 518 sats per coin the rest.

Launch was not a lucky one. 250 btc of ICO funds were wasted in an attempt to stabilize the market (above 500 sats). This also means devs basically "bought" 50 mil sys using 250 btc from ICO. And later 750 btc was misappropriated by moolah.

Thanks for your recollection.

Obviously the devs are not interested in giving any relevant info to  new potential investors, therefore any interest in this project will probably result in financial losses and a lot of unnecessary frustration.

Moving on.

Sorry just busy with the next big release.. which will be a massive one

[albert_mt]

1.- You are litigating with that Moolah guy because they stole some 750 BTC from you ("you" being Dan and his team of 7 developers?). Those 750-odd BTC were the result of selling 15% of the 2.0 billion coins in the presale? That would indicate people paid 250 sat per in the pre-sale of those 300 million SYS. Now, with that money gone, how is this project sustaining itself? I am assuming that the 2% for the devs is long gone (15 BTC) and so is the 1% (7.5 BTC) for promotions... Also I would like to know who is fronting the legal costs implied.

If I remember correctly ICO was 1500 BTC. Price was 465 sats per coin - first five hundreds btcs, 518 sats per coin the rest.

Launch was not a lucky one. 250 btc of ICO funds were wasted in an attempt to stabilize the market (above 500 sats). This also means devs basically "bought" 50 mil sys using 250 btc from ICO. And later 750 btc was misappropriated by moolah.

Thanks for your recollection.

Obviously the devs are not interested in giving any relevant info to  new potential investors, therefore any interest in this project will probably result in financial losses and a lot of unnecessary frustration.

Moving on.

Sorry just busy with the next big release.. which will be a massive one

don't bother. if you want peace around your coin pls keep this crazy creature barabbas away from your project. 
barabbas has just said in the Gadgetcoin thread that he is so well connected that he can call any time to Jamie Dimon the chairman of JPMorgan Chase and he can put a camera in all Chase offices in the world. that's how sick he is in the head. to put this in context, barabbas Jose is a jobless Spanish actor with broken finance and as you can see a severely broken mind. you have a nice coin here, yo don't need the craziness and arguing that comes with barabbas batman for free but inevitably.

[vladimirdin19]

So many opinion one is true sys is gooood coin 

[sebastien1234]

I've also had the misfortune of seeing his antics on various coins..

But that will not discount the validity of some of the questions he had.. So I believe it does not hurt to give a light to these questions for others to see.

the presale info was explained by other posters; We are sustaining ourselves with our regular day-to-day jobs, most being in software development, myself in telecommunications. We do still hold quite a bit of syscoin, I won't get into numbers but each of us individually hold quite a bit and then we have our dev wallet that still holds a good amount. Much of the legal fees have been payed out-of-pocket but we also have had help from some that have had help from a few supporters who strongly believe in our project; I value their help and also their right for privacy, no names will be provided.

Why are we different? There's a marketplace directly built-in to the commands of the blockchain, offers and purchases are made directly on the blockchain, you could technically right now, make an offer on the blockchain using these commands via the command prompt on the wallet. These specific commands and how they were programmed, do not exist on any other coin. OFFERNEW OFFERACCEPT allow you to buy and sell. And that's only two commands. Sidenote: If your not all that techs savvy, but you've had a QT wallet, the commands are entered on the debug screen of your wallet, it looks like an old tech computer that you type into, like MS-DOS if you are old enough to remember, that's the backbone of the blockchain, when you send and receive bitcoin it's because your software entered a command in that prompt to do it.

We've integrated many new commands allowing to sell and buy(which creates a virtual marketplace directly on the blockchain), datastore, certificate issuance, create aliases(instead of remembering long random Syscoin addresses why not get an alias? Then anyone can send you Syscoin to your alias-like your username on bitcointalk for example). We are consistently fine-tuning the code to make it as valuable to a in real business use-cases but the internal code of the blockchain is only one small step. We are working on a new wallet that will be html based that will be completely from scratch, tailor-made to the blockchain it will facilitate being able to incorporate the use of all of these new commands.

I have no comment to make regarding Viacoin, we have nothing to do with them and wish them good luck.

We also have one of the strongest cryptocurrency networks, leveraging the power of scrypt merged-mining, we are able to take advantage of most of it's power (typically between 800-1000GH/s). 

We are working on making all of these features properly usable via plug-ins with most e-commerce platforms so no more 3rd party, all you will need is a wallet and a website.. Once this comes into play you will see much more interaction using these commands on the blockchain.

The supernet conditions are their own; they have a list of requirements which I will not discuss (but which include being an innovative coin).

[barabbas]

Thank you for your answers, Sebastien.  I believe your "misfortune" is not to have read enough for my posts are always educated, punctual and have  uncovered dozens of scams and P&Ds already, as well as many cases in which a perfectly good -technically speaking- project is ruined by the ineptitude of its developers (as in VIA, VRC and a bunch of others). But that unnecessary remark prompts this equally unnecessary response: Everyone should be adult enough to do their own research... or pay the consequences.

On point, thanks again for the marketplace explanation that, as of this moment, I take it is in the potential or experimental status, without anything being traded, if I am correct. Hopefully that new iteration of the wallet will prompt a more widespread use. Also thanks for the brief info regarding the legal fight and the resources or lack thereof available.

My question regarding the Supernet is, again, quite educated: James has made it customary that any addition to the core Supernet will requite a 10% of the coin added donated or invested in Supernet, as well as a host of other rather generous conditions on his part, including some price-related thresholds. I assume the same treatment has been applied to SYS. I'm sure he has posted it somewhere, just expected not to have to look for it.

Anyway, thanks for the answers -better late than never- and hopefully they will serve to help -much needed- with new, fresh investment in this project.

[Zackgeno96]

why was my post taken down? all i want to know is what's going on with mintpal...

[sebastien1234]

why was my post taken down? all i want to know is what's going on with mintpal...

No one in the team removed your post, I'm not sure I fully understand your question, we really have nothing to do with mintpal other than the fact that Syscoin was traded there like all other coins. We are in litigation against Ryan Kennedy and Moolah not Mintpal, our case has nothing to do with Mintpal other than the fact that Mintpal was also owned by Ryan Kennedy and the time of his "alleged" bankruptcy; by bringing him to court though, we have also paved the way for Mintpal creditors to possibly get something after all is said and done but we really have no idea of what that outcome may bring.

[sebastien1234]

The Next Evolution of Syscoin Decentralization!

http://syscoin.org/the-next-evolution-of-syscoin-decentralization/

[jokumat]

The first iteration of Syscoin was built using an amalgamation of existing projects from the decentralized space (BTC, LTC, NMC, DTC, USC+) and then taking them all a step further. While it worked, it did not represent the most ideal solution or architecture......

The direct implications of this in regards to the initial Syscoin feature set is that we’ll be rewriting the decentralized marketplace from scratch as the very first application on the SYS2 chain.

SYS2 will release with an entirely new wallet and Blockmarket will be released alongside it.

In plain words: all existing sys tech is outdated and entirely useless. It will be scrapped completely. If we copy ethereum quickly maybe there is some future.

All investors in SYS will retain equivalent equity in SYS2 and there will be a trade-in program to exchange your SYS for SYS2 or something of that neture- we’re still hashing out all the details and we’re also exploring options to enable users to directly import their SYS private key into SYS2; while we don’t have all the answers we can guarantee there will be no equity loss in the transition.

Sounds like there is a plan for another ICO.  Existing shares will be preserved but diluted.

Wow. The devs can adapt to changes, I must give it to them.

[sidhujag]

The first iteration of Syscoin was built using an amalgamation of existing projects from the decentralized space (BTC, LTC, NMC, DTC, USC+) and then taking them all a step further. While it worked, it did not represent the most ideal solution or architecture......

The direct implications of this in regards to the initial Syscoin feature set is that we’ll be rewriting the decentralized marketplace from scratch as the very first application on the SYS2 chain.

SYS2 will release with an entirely new wallet and Blockmarket will be released alongside it.

In plain words: all existing sys tech is outdated and entirely useless. It will be scrapped completely. If we copy ethereum quickly maybe there is some future.

All investors in SYS will retain equivalent equity in SYS2 and there will be a trade-in program to exchange your SYS for SYS2 or something of that neture- we’re still hashing out all the details and we’re also exploring options to enable users to directly import their SYS private key into SYS2; while we don’t have all the answers we can guarantee there will be no equity loss in the transition.

Sounds like there is a plan for another ICO.  Existing shares will be preserved but diluted.

Wow. The devs can adapt to changes, I must give it to them.

Sys1 will be discontinued we will work with mm pools To switch over aswell as exchanges. No dilution just transfer of equity.  There is no raising funds even though we've been working with little to no funding thats just the way it is until the value rises enough to make all the work worth it.

[Artimunor]

wow syscoin is really taking a beating...
people dont believe in syscoin2?

[CryptoGuy]

wow syscoin is really taking a beating...
people dont believe in syscoin2?

It was thrown at us with little warning so no surprises there.

[pinkie31]

wow, well i suppose this explains the slow drop in price thats gone on for weeks.  devs selling out before telling the herd?  surely not!
Barabas was spot on.

[Artimunor]

wow syscoin is really taking a beating...
people dont believe in syscoin2?

It was thrown at us with little warning so no surprises there.

Actually any moment they would say would have not been a warning before right?
I mean if they did give a warning, then they would not have warned beforehand for the warning? and so on...

What is the minimum time people believe devs should notify 'the herd' before the actual transition?
Is there already a set date for the transition or is it only a concept and was this the actual warning?

I don't see sys2 as such a bad thing, if our assets are safely transfered and not devaluated in the process then progress is only a good thing right?
Seeing devs doing such a bold step as to so drastically change their coin that a relaunch is needed only proves to me they are serious about it's developement, given they did not silently sold their own assets which they buy back now cheaper, or wait for the relaunch IF sys2 will be worth less then sys1 (for example if there is more total coins or faster mining speed)
 
Only when we know these details we can judge whats happening here, if above things stay the same then i can only applaud the devs for what they are doing.

[sebastien1234]

wow syscoin is really taking a beating...
people dont believe in syscoin2?

It was thrown at us with little warning so no surprises there.

Actually any moment they would say would have not been a warning before right?
I mean if they did give a warning, then they would not have warned beforehand for the warning? and so on...

What is the minimum time people believe devs should notify 'the herd' before the actual transition?
Is there already a set date for the transition or is it only a concept and was this the actual warning?

I don't see sys2 as such a bad thing, if our assets are safely transfered and not devaluated in the process then progress is only a good thing right?
Seeing devs doing such a bold step as to so drastically change their coin that a relaunch is needed only proves to me they are serious about it's developement, given they did not silently sold their own assets which they buy back now cheaper, or wait for the relaunch IF sys2 will be worth less then sys1 (for example if there is more total coins or faster mining speed)
 
Only when we know these details we can judge whats happening here, if above things stay the same then i can only applaud the devs for what they are doing.

AFAIK, no one in the team has liquidated any assets, I certainly have not (bought a little more at these tantalizing prices though; not because I sold before but because I bought a little more with the money I get from my day-job). There will be no dilution of the existing coins, total coins will remain the same between sys1 and sys2; the amount of coins mined per hour will remain the same or be reduced; TBD. We are not looking to make your SYS worth less, to the contrary really. Most of the SYS I and the rest of the team personally own today wer purchased out-of-pocket, plus I've invested over 1.5 years of my time to this project as have my colleagues, we, like the community would certainly not want to see our investment devalued.

I hope that answers the questions that will help you judge what's happening here as you've mentioned. Thanks for the support!

[sidhujag]

Devaluing/diluting the coin is out of the question, not even considered.

[Artimunor]

wow syscoin is really taking a beating...
people dont believe in syscoin2?

It was thrown at us with little warning so no surprises there.

Actually any moment they would say would have not been a warning before right?
I mean if they did give a warning, then they would not have warned beforehand for the warning? and so on...

What is the minimum time people believe devs should notify 'the herd' before the actual transition?
Is there already a set date for the transition or is it only a concept and was this the actual warning?

I don't see sys2 as such a bad thing, if our assets are safely transfered and not devaluated in the process then progress is only a good thing right?
Seeing devs doing such a bold step as to so drastically change their coin that a relaunch is needed only proves to me they are serious about it's developement, given they did not silently sold their own assets which they buy back now cheaper, or wait for the relaunch IF sys2 will be worth less then sys1 (for example if there is more total coins or faster mining speed)
 
Only when we know these details we can judge whats happening here, if above things stay the same then i can only applaud the devs for what they are doing.

AFAIK, no one in the team has liquidated any assets, I certainly have not (bought a little more at these tantalizing prices though; not because I sold before but because I bought a little more with the money I get from my day-job). There will be no dilution of the existing coins, total coins will remain the same between sys1 and sys2; the amount of coins mined per hour will remain the same or be reduced; TBD. We are not looking to make your SYS worth less, to the contrary really. Most of the SYS I and the rest of the team personally own today wer purchased out-of-pocket, plus I've invested over 1.5 years of my time to this project as have my colleagues, we, like the community would certainly not want to see our investment devalued.

I hope that answers the questions that will help you judge what's happening here as you've mentioned. Thanks for the support!

Awesome, good to hear such an honest answer.
Bought another bitcoin and got me some more SYS like you said at these tantalizing prices.
Excited to hear more about the SYS2 developments
Any chance we can keep the name the same at SYS? SYS2 will sound a bit awkward, and since sys1 will be discontinued the name will be available again.

[sebastien1234]

wow syscoin is really taking a beating...
people dont believe in syscoin2?

It was thrown at us with little warning so no surprises there.

Actually any moment they would say would have not been a warning before right?
I mean if they did give a warning, then they would not have warned beforehand for the warning? and so on...

What is the minimum time people believe devs should notify 'the herd' before the actual transition?
Is there already a set date for the transition or is it only a concept and was this the actual warning?

I don't see sys2 as such a bad thing, if our assets are safely transfered and not devaluated in the process then progress is only a good thing right?
Seeing devs doing such a bold step as to so drastically change their coin that a relaunch is needed only proves to me they are serious about it's developement, given they did not silently sold their own assets which they buy back now cheaper, or wait for the relaunch IF sys2 will be worth less then sys1 (for example if there is more total coins or faster mining speed)
 
Only when we know these details we can judge whats happening here, if above things stay the same then i can only applaud the devs for what they are doing.

AFAIK, no one in the team has liquidated any assets, I certainly have not (bought a little more at these tantalizing prices though; not because I sold before but because I bought a little more with the money I get from my day-job). There will be no dilution of the existing coins, total coins will remain the same between sys1 and sys2; the amount of coins mined per hour will remain the same or be reduced; TBD. We are not looking to make your SYS worth less, to the contrary really. Most of the SYS I and the rest of the team personally own today wer purchased out-of-pocket, plus I've invested over 1.5 years of my time to this project as have my colleagues, we, like the community would certainly not want to see our investment devalued.

I hope that answers the questions that will help you judge what's happening here as you've mentioned. Thanks for the support!

Awesome, good to hear such an honest answer.
Bought another bitcoin and got me some more SYS like you said at these tantalizing prices.
Excited to hear more about the SYS2 developments
Any chance we can keep the name the same at SYS? SYS2 will sound a bit awkward, and since sys1 will be discontinued the name will be available again.

We are ironing out names within the community, the millionaire's club has been actively suggesting various names and we are still ruminating the whole branding however we will not call it syscoin 2 or syscoin 2.0, it will most likely be something completely different but may contain several names for various features SYS may still be part of that but that is TBD