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

[jbreher]

We'd appreciate if people could stop asking questions about when this news will be pushed

Note that I have not asked questions regarding when the announcement will be made. I am asking very specific questions. So far, others in the community -- doubtless well-meaning, but not authoritative -- have made poor attempts to answer. However, these questions remain unaddressed - at least directly.

Please get some one on your team to clarify the questions at:

https://bitcointalk.org/index.php?topic=757255.msg14297301#msg14297301

To wit:

1) An entirely new coin is being created. Holders of what is today being referred to as SYS (which I will refer to here as 'old-SYS' for clarity) will be issued 1 of these new coins for every 299.4 'old-SYS' coins they hold. Right?

2) Everyone will be expected to stop calling 'old-SYS' SYS. However, all holders of 'old-SYS' will still have all their 'old-SYS', and there is no technical reason that the 'old-SYS' blockchain cannot continue as a viable coin. Right?

3) Everyone will be expected to refer to this new coin as simply 'SYS', despite the fact that it has an existence completely independent of 'old-SYS', which was previously known as simply 'SYS'.

That about sum it up? Or am I wrong in one or more of the above points?

Sorry I missed those:

1) Yes, based on users' old-sys address balance as of the fork block

2) Technically speaking yes- if miners don't adopt the update to old-sys we'll be releasing at the same time as we release SYS. The old-sys update will warn users to switch/won't connect to older clients. The team will no longer be maintaining old-sys.

3) Yes

Thank you for your forthright -- and clear -- answers.

I can't imagine why anyone would think this would be a good idea.

And all exchanges that deal in SYS have indicated that they will implement this change on behalf of their customers which have SYS in their accounts? Will each such customer end up with an 'old-SYS' account and a 'new-SYS' account', or will these exchanges just be pocketing their customers' 'old-SYS' for the exchanges' own benefit?

[ThePatient]

I'm curious as to the answers to the answers to these questions as well.
I think how this is all handled will have a significant impact on the future of SYS.

[b1007]

Will old Sys be exchanged automatically for the new Sys on the exchanges 

[johnp]

Will old Sys be exchanged automatically for the new Sys on the exchanges 

Yes it has been quite clearly stated several time times that the exchanges will convert automatically, but for further clarification just wait for Dans update.

[randywald]

Hello from alcurEX exchange.
SYS - BTC market has been added in alcurEX.
https://alcurex.org/index.php/crypto/market?pair=sys_btc

Welcome
-halibit-

One question.
What SYS withdraw fee I should add to covering transaction costs?


ALCUREX is an cryptocurrency financing company registered in Finland.

Nice!

I will send some coins to your exchange so that trading can start!

with kind regards,
randywald

[danosphere]

Hello from alcurEX exchange.
SYS - BTC market has been added in alcurEX.
https://alcurex.org/index.php/crypto/market?pair=sys_btc

Welcome
-halibit-

One question.
What SYS withdraw fee I should add to covering transaction costs?


ALCUREX is an cryptocurrency financing company registered in Finland.

Thanks! A fee of 0.002 will cover transaction costs We'll get you added to the website and the OP tonight too!

[ryanb]

what is the price speculate on SYS 2.0?

[chinadaye]

Hello from alcurEX exchange.
SYS - BTC market has been added in alcurEX.
https://alcurex.org/index.php/crypto/market?pair=sys_btc

Welcome
-halibit-

One question.
What SYS withdraw fee I should add to covering transaction costs?


ALCUREX is an cryptocurrency financing company registered in Finland.

Thanks! A fee of 0.002 will cover transaction costs We'll get you added to the website and the OP tonight too!

China 's yunbi.com prepare list some of the new coin ，This is a very good opportunity, syscoin2.0 fully meet the requirements of each other, hoping to contact yunbi.com as soon as possible, send mail to the support@yunbi.com application on the line        http://weibo.com/ttarticle/p/show?id=2309403956906774390418#_0

[halibit]

Hello from alcurEX exchange.
SYS - BTC market has been added in alcurEX.
https://alcurex.org/index.php/crypto/market?pair=sys_btc

Welcome
-halibit-

One question.
What SYS withdraw fee I should add to covering transaction costs?


ALCUREX is an cryptocurrency financing company registered in Finland.

Thanks! A fee of 0.002 will cover transaction costs We'll get you added to the website and the OP tonight too!

Thanks for fast reply.
withdraw fee is now set to 0.002 on alcurEX.
-halibit-
alcurEX

[Keyare]

I've contacted yunbi.com.

[jbreher]

Will old Sys be exchanged automatically for the new Sys on the exchanges

Yes it has been quite clearly stated several time times that the exchanges will convert automatically, but for further clarification just wait for Dans update.

Incorrect. It has been unambiguously stated by danosphere* that an entirely new coin is being created, and coins on this new chain are being granted to all 'old-SYS' holders at that point in time at a 299.4:1 ratio. That is not a conversion of anything. It is the creation of a new thing.

*https://bitcointalk.org/index.php?topic=757255.msg14307923#msg14307923

Questions remaining unanswered include:

All exchanges that deal in SYS have indicated that they will implement this change on behalf of their customers which have SYS in their accounts?

Will each such customer end up with an 'old-SYS' account and a 'new-SYS' account'?

Or will these exchanges just be pocketing their customers' 'old-SYS' for the exchanges' own benefit?

[sidhujag]

It is a new blockchain and only thing traded will benew coin called sys. Old sys blockchain will still go aslong as miners supportbut it wont be traded anywhere asaik. Exchanges dont do anything except copy their wallet.dat to new daemon directory.

[jbreher]

I think there may be much imprecision in your statements. Maybe I am just misunderstanding you. Let's see if we can delve down to the truth of the matter.

It is a new blockchain and only thing traded will benew coin called sys.

How can you say that the only thing traded will be the 'new-SYS'? Even if every last exchange granted their account holders 'new-SYS', and 'eradicated' the 'old-SYS', what of 'old-SYS' in private wallets? What is the mechanism by which those holders of 'old-SYS' will be prevented from trading it?

Old sys blockchain will still go aslong as miners supportbut it wont be traded anywhere asaik.

Exchanges are not required in order to trade. Such can be done privately. If it exists, it will be traded. By someone somewhere. And if the 'old-SYS' ends up retaining miners, activity, and value, why would exchanges not resume trading it?

eta: It seems there are significant _assumptions_ being passed off as _fact_.

Exchanges dont do anything except copy their wallet.dat to new daemon directory.

AFAIK, the funds in (bitcoin-style) wallet.dats are in the form of fundamental units (e.g. in that case of Bitcoin, denominated in Sathoshis). If such a wallet.dat is simply copied to a new daemon's folder, would it not be incorrect by a factor of 299.4:1?

[sebastien1234]

I think there may be much imprecision in your statements. Maybe I am just misunderstanding you. Let's see if we can delve down to the truth of the matter.

It is a new blockchain and only thing traded will benew coin called sys.

How can you say that the only thing traded will be the 'new-SYS'? Even if every last exchange granted their account holders 'new-SYS', and 'eradicated' the 'old-SYS', what of 'old-SYS' in private wallets? What is the mechanism by which those holders of 'old-SYS' will be prevented from trading it?

Old sys blockchain will still go aslong as miners supportbut it wont be traded anywhere asaik.

Exchanges are not required in order to trade. Such can be done privately. If it exists, it will be traded. By someone somewhere. And if the 'old-SYS' ends up retaining miners, activity, and value, why would exchanges not resume trading it?

eta: It seems there are significant _assumptions_ being passed off as _fact_.

Exchanges dont do anything except copy their wallet.dat to new daemon directory.

AFAIK, the funds in (bitcoin-style) wallet.dats are in the form of fundamental units (e.g. in that case of Bitcoin, denominated in Sathoshis). If such a wallet.dat is simply copied to a new daemon's folder, would it not be incorrect by a factor of 299.4:1?

In a week or so, we will be releasing official information about the specifications, until then, please stay tuned, we will not be able to clearly answer your questions until an official statement is made, then we will be glad to answer all your questions.

[sidhujag]

I think there may be much imprecision in your statements. Maybe I am just misunderstanding you. Let's see if we can delve down to the truth of the matter.

It is a new blockchain and only thing traded will benew coin called sys.

How can you say that the only thing traded will be the 'new-SYS'? Even if every last exchange granted their account holders 'new-SYS', and 'eradicated' the 'old-SYS', what of 'old-SYS' in private wallets? What is the mechanism by which those holders of 'old-SYS' will be prevented from trading it?

Old sys blockchain will still go aslong as miners supportbut it wont be traded anywhere asaik.

Exchanges are not required in order to trade. Such can be done privately. If it exists, it will be traded. By someone somewhere. And if the 'old-SYS' ends up retaining miners, activity, and value, why would exchanges not resume trading it?

eta: It seems there are significant _assumptions_ being passed off as _fact_.

Exchanges dont do anything except copy their wallet.dat to new daemon directory.

AFAIK, the funds in (bitcoin-style) wallet.dats are in the form of fundamental units (e.g. in that case of Bitcoin, denominated in Sathoshis). If such a wallet.dat is simply copied to a new daemon's folder, would it not be incorrect by a factor of 299.4:1?

no they wouldnt be off we pay to non zero utxo addresses using snapshot amount from block 1.

Other well known projects did the same thing via snapshots using the same exchanges we are on.

old sys wont go anywhere you will get
both. Up to you to sell old sys if there is a
buyer.

[jbreher]

I think there may be much imprecision in your statements. Maybe I am just misunderstanding you. Let's see if we can delve down to the truth of the matter.

It is a new blockchain and only thing traded will benew coin called sys.

How can you say that the only thing traded will be the 'new-SYS'? Even if every last exchange granted their account holders 'new-SYS', and 'eradicated' the 'old-SYS', what of 'old-SYS' in private wallets? What is the mechanism by which those holders of 'old-SYS' will be prevented from trading it?

Old sys blockchain will still go aslong as miners supportbut it wont be traded anywhere asaik.

Exchanges are not required in order to trade. Such can be done privately. If it exists, it will be traded. By someone somewhere. And if the 'old-SYS' ends up retaining miners, activity, and value, why would exchanges not resume trading it?

eta: It seems there are significant _assumptions_ being passed off as _fact_.

Exchanges dont do anything except copy their wallet.dat to new daemon directory.

AFAIK, the funds in (bitcoin-style) wallet.dats are in the form of fundamental units (e.g. in that case of Bitcoin, denominated in Sathoshis). If such a wallet.dat is simply copied to a new daemon's folder, would it not be incorrect by a factor of 299.4:1?

no they wouldnt be off we pay to non zero utxo addresses using snapshot amount from block 1.

'Paying to non zero utxo addresses' sounds considerably different than 'copying their wallet.dat to new daemon directory'. Are you claiming that these are the same?

I think you may be new or something

Yup - that's me - the Legendary new guy.

because other well known projects did the same thing via snapshots using the same exchanges we are on.

Again, that sounds different that copying the wallet.dat.

old sys wont go anywhere you will get
both. Up to you to sell old sys if there is a
buyer.

In that case, it appears that you admit that:
1) "only thing traded will benew coin called sys" is not factual, but rather at best an (unlikely) assumption
2) "it wont be traded anywhere" is not factual, but rather at best an (unlikely) assumption
Correct?

[sidhujag]

I think there may be much imprecision in your statements. Maybe I am just misunderstanding you. Let's see if we can delve down to the truth of the matter.

It is a new blockchain and only thing traded will benew coin called sys.

How can you say that the only thing traded will be the 'new-SYS'? Even if every last exchange granted their account holders 'new-SYS', and 'eradicated' the 'old-SYS', what of 'old-SYS' in private wallets? What is the mechanism by which those holders of 'old-SYS' will be prevented from trading it?

Old sys blockchain will still go aslong as miners supportbut it wont be traded anywhere asaik.

Exchanges are not required in order to trade. Such can be done privately. If it exists, it will be traded. By someone somewhere. And if the 'old-SYS' ends up retaining miners, activity, and value, why would exchanges not resume trading it?

eta: It seems there are significant _assumptions_ being passed off as _fact_.

Exchanges dont do anything except copy their wallet.dat to new daemon directory.

AFAIK, the funds in (bitcoin-style) wallet.dats are in the form of fundamental units (e.g. in that case of Bitcoin, denominated in Sathoshis). If such a wallet.dat is simply copied to a new daemon's folder, would it not be incorrect by a factor of 299.4:1?

no they wouldnt be off we pay to non zero utxo addresses using snapshot amount from block 1.

'Paying to non zero utxo addresses' sounds considerably different than 'copying their wallet.dat to new daemon directory'. Are you claiming that these are the same?

I think you may be new or something

Yup - that's me - the Legendary new guy.

because other well known projects did the same thing via snapshots using the same exchanges we are on.

Again, that sounds different that copying the wallet.dat.

old sys wont go anywhere you will get
both. Up to you to sell old sys if there is a
buyer.

In that case, it appears that you admit that:
1) "only thing traded will benew coin called sys" is not factual, but rather at best an (unlikely) assumption
2) "it wont be traded anywhere" is not factual, but rather at best an (unlikely) assumption
Correct?

Not correct reread my post please. You can keep old sys if you want. Sell if you have a buyer.

Sys2 and sys1 are address compatible hence able to import sys1 priv keys.

Note that we are coordinating with exchanged to shutdown trading dothe snapshot give exchanged and miners new client and go online. This way old sys stops trading on those exchanged and new one replaces it with same symbol. Hope that answers your questions. It can be confusing for non techies.

[b1007]

So for clearity sake, I have some Syscoins on Bittrex. I don't have to do anything and I will get SYS 2 coins? 

[randywald]

So for clearity sake, I have some Syscoins on Bittrex. I don't have to do anything and I will get SYS 2 coins? 

Yes, that's the plan .

[b1007]

So for clearity sake, I have some Syscoins on Bittrex. I don't have to do anything and I will get SYS 2 coins? 

Yes, that's the plan .

Ahh thanks, I was a little worried there, strangely my syscoins are marked as "reserved" so maybe the process has already started? But I also notice there is still trading going on so I am not quite sure. Price is very cheap atm btw, great opportunity, I am sure with the next round of updates it can easily double or tripple.