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

[sidhujag]

Syscoin 2.0 Final Coin Specs[/b] - http://syscoin.org/syscoin-2-0-final-coin-parameters/

Hmm. First, your new plan seems marginally better than your old plan. However, changing the fundamental characteristics of the distribution at all just seems shifty.

From the release:

In order to ensure proper funding for the continued development of Syscoin 2.0, the team will be allocating 15 million Syscoin for future development. These funds will be allocated from the mining schedule immediately upon launch of the new platform.

Other than announcing the insiders will be getting 15M coins, this statement is content-free. What is the exact schedule of disbursement? Will 15M new coins (of the eventual 900M) just poof into existence at the time Syscoin 2.0 goes live? Will they be in address(es) controlled solely by insiders (i.e. 'the team')? Who are these insiders?

I note there is still no answer to the question of whether the exchanges will be stealing our 'old-SYS' coins at the point in time we are granted an equal number of Syscoin 2.0. Inadvertent omission? Not known? Inconvenient to answer truthfully?

If you want your old-Sys you transfer them out of the exchanges prior to the snapshot. If you don't care and just want to convert your old-Sys to Sys2 as 1:1 and want exchanges to convert for you, you can leave them on exchange and the wallet.dat will be replaced (old-Sys keys most likely lost forever). The Dev funds will not be vested, we have plans to hire new developers immediately for new features after release. For this we need to pay them aswell as bounties that will be available to anyone who wants to work and earn Sys.

[jbreher]

I note there is still no answer to the question of whether the exchanges will be stealing our 'old-SYS' coins at the point in time we are granted an equal number of Syscoin 2.0. Inadvertent omission? Not known? Inconvenient to answer truthfully?

If you want your old-Sys you transfer them out of the exchanges prior to the snapshot. If you don't care and just want to convert your old-Sys to Sys2 as 1:1 and want exchanges to convert for you, you can leave them on exchange and the wallet.dat will be replaced (old-Sys keys most likely lost forever).

Well, it's an answer. Thanks.

Though it seems a bit naiive. You really don't think the exchange operators will be pocketing the 'old-SYS' on the off chance it may have some future value?

Syscoin 2.0 Final Coin Specs[/b] - http://syscoin.org/syscoin-2-0-final-coin-parameters/

From the release:

In order to ensure proper funding for the continued development of Syscoin 2.0, the team will be allocating 15 million Syscoin for future development. These funds will be allocated from the mining schedule immediately upon launch of the new platform.

Other than announcing the insiders will be getting 15M coins, this statement is content-free. What is the exact schedule of disbursement? Will 15M new coins (of the eventual 900M) just poof into existence at the time Syscoin 2.0 goes live? Will they be in address(es) controlled solely by insiders (i.e. 'the team')? Who are these insiders?

The Dev funds will not be vested, we have plans to hire new developers immediately for new features after release. For this we need to pay them aswell as bounties that will be available to anyone who wants to work and earn Sys.

I understand that development requires effort, and effort expects renumeration. But if "The Dev funds will not be vested" is an answer to my specific questions, then I am not understanding it. Let's try again:

1) What is the exact schedule of disbursement?

2) Will 15M new coins (of the eventual 900M) just poof into existence at the time Syscoin 2.0 goes live?

3) Will they be in address(es) controlled solely by insiders (i.e. 'the team')?

4) Who are these insiders?

[BTCMILLIONAIRE]

is there a countdown for the release?? 

[forzendiablo]

this news are HOT!

[danosphere]

Hello everybody,

Im trying to download from https://github.com/syscoin/syscoin/releases/download/1.5.1.1/Syscoin_v1.5.1.1.zip but my AV reports Win32:malware-gen. Could be a false alarm?

thanks

That's a false alarm, the miner is sometimes reported as this but its safe.

I note there is still no answer to the question of whether the exchanges will be stealing our 'old-SYS' coins at the point in time we are granted an equal number of Syscoin 2.0. Inadvertent omission? Not known? Inconvenient to answer truthfully?

If you want your old-Sys you transfer them out of the exchanges prior to the snapshot. If you don't care and just want to convert your old-Sys to Sys2 as 1:1 and want exchanges to convert for you, you can leave them on exchange and the wallet.dat will be replaced (old-Sys keys most likely lost forever).

Well, it's an answer. Thanks.

Though it seems a bit naiive. You really don't think the exchange operators will be pocketing the 'old-SYS' on the off chance it may have some future value?

We'll be communicating all of this to investors in a blog post shortly along with the final launch date. From there its their, as @sidhujag said, its up to them.

Syscoin 2.0 Final Coin Specs[/b] - http://syscoin.org/syscoin-2-0-final-coin-parameters/

From the release:

In order to ensure proper funding for the continued development of Syscoin 2.0, the team will be allocating 15 million Syscoin for future development. These funds will be allocated from the mining schedule immediately upon launch of the new platform.

Other than announcing the insiders will be getting 15M coins, this statement is content-free. What is the exact schedule of disbursement? Will 15M new coins (of the eventual 900M) just poof into existence at the time Syscoin 2.0 goes live? Will they be in address(es) controlled solely by insiders (i.e. 'the team')? Who are these insiders?

The Dev funds will not be vested, we have plans to hire new developers immediately for new features after release. For this we need to pay them aswell as bounties that will be available to anyone who wants to work and earn Sys.

I understand that development requires effort, and effort expects renumeration. But if "The Dev funds will not be vested" is an answer to my specific questions, then I am not understanding it. Let's try again:

1) What is the exact schedule of disbursement?

2) Will 15M new coins (of the eventual 900M) just poof into existence at the time Syscoin 2.0 goes live?

3) Will they be in address(es) controlled solely by insiders (i.e. 'the team')?

4) Who are these insiders?

1. As developers we've hired complete work, they'll be paid accordingly. These funds will also go towards hosting costs, marketing costs, misc. bounties, and expenses (we are trying to speak at conferences this year).

2. As stated in the blog this is being allocated at launch of sys2 similar to a premine.

3. The team will control the development funds, just as we did with the initial fund which we made last 2 years at a rate of 1-400 satoshi.

4. They are any and all of the people who are working to build value in Syscoin for current and future investors, merchants and consumers.

Additionally the fund address will be made public. Its balance/payouts will be visible on the blockchain. Identical to the initial dev fund.

[kennyP]

I don't think people realise yet what's going on here lol   Long term supply is cut in two! Meaning, the long term value of this coin has suddenly doubled. On top of that there is some real economy u\u1d09o\u0254\u0287\u1d09q killer app stuff going on. Tired of hearing the same buzzwords (marketplace, decentralized assets etc.) but these guys seem to actually make it happen.

I know it goes in my favor as a long term bag holder of sys, but I'm still uncomfortable with changing coin parameters mid-stream. How will it look to potential investors in the future? I never bought into dark/Dish once I realised the backstory and all it implied, even though the idea of masternodes was ok ... a bad look can kill a coin  .... but I still doubled all my asks just now, so I'm part of this decision now too.

[sidhujag]

I don't think people realise yet what's going on here lol   Long term supply is cut in two! Meaning, the long term value of this coin has suddenly doubled. On top of that there is some real economy u\u1d09o\u0254\u0287\u1d09q killer app stuff going on. Tired of hearing the same buzzwords (marketplace, decentralized assets etc.) but these guys seem to actually make it happen.

I know it goes in my favor as a long term bag holder of sys, but I'm still uncomfortable with changing coin parameters mid-stream. How will it look to potential investors in the future? I never bought into dark/Dish once I realised the backstory and all it implied, even though the idea of masternodes was ok ... a bad look can kill a coin  .... but I still doubled all my asks just now, so I'm part of this decision now too.

When we first launched we werent sure what we were building.. later we realized what to do and we dont need billions of coins. We adapted to the fact that sys is a service based coin and we can keep coins under a billion. Yea we could have started a new project and not sharedropped on sys1 but i doubt you would like that as much..  it was a fair compromise.

[kennyP]

I don't think people realise yet what's going on here lol   Long term supply is cut in two! Meaning, the long term value of this coin has suddenly doubled. On top of that there is some real economy u\u1d09o\u0254\u0287\u1d09q killer app stuff going on. Tired of hearing the same buzzwords (marketplace, decentralized assets etc.) but these guys seem to actually make it happen.

I know it goes in my favor as a long term bag holder of sys, but I'm still uncomfortable with changing coin parameters mid-stream. How will it look to potential investors in the future? I never bought into dark/Dish once I realised the backstory and all it implied, even though the idea of masternodes was ok ... a bad look can kill a coin  .... but I still doubled all my asks just now, so I'm part of this decision now too.

When we first launched we werent sure what we were building.. later we realized what to do and we dont need billions of coins. We adapted to the fact that sys is a service based coin and we can keep coins under a billion. Yea we could have started a new project and not sharedropped on sys1 but i doubt you would like that as much..  it was a fair compromise.

That isn't a convincing argument imo. uᴉoɔʇᴉq has 21M coins, but with 8 decimal places the 'million' in the coin supply doesn't really mean millions does it? It's just a number, and the value for 1 satoshi is all that matters to end users. uᴉoɔʇᴉq would be the same with 210,000,000,000 coins and 4 decimal places (afaik). BUT, changing from 21 M with 8 places to anything else after the launch would matter. It looks bad, and was unnecessary ... millions, billions, trillions ... uᴉoɔʇᴉq can handle them all with 21M and 8 decimals, and so too could syscoin


edit: 'Yea we could have started a new project and not sharedropped on sys1 but i doubt you would like that as much' - if you did this would anyone trust you or your team ever again?

edit2: to answer you, I would not like it, as it would mean you would have scammed me as a sys1 investor

[sidhujag]

I don't think people realise yet what's going on here lol   Long term supply is cut in two! Meaning, the long term value of this coin has suddenly doubled. On top of that there is some real economy u\u1d09o\u0254\u0287\u1d09q killer app stuff going on. Tired of hearing the same buzzwords (marketplace, decentralized assets etc.) but these guys seem to actually make it happen.

I know it goes in my favor as a long term bag holder of sys, but I'm still uncomfortable with changing coin parameters mid-stream. How will it look to potential investors in the future? I never bought into dark/Dish once I realised the backstory and all it implied, even though the idea of masternodes was ok ... a bad look can kill a coin  .... but I still doubled all my asks just now, so I'm part of this decision now too.

When we first launched we werent sure what we were building.. later we realized what to do and we dont need billions of coins. We adapted to the fact that sys is a service based coin and we can keep coins under a billion. Yea we could have started a new project and not sharedropped on sys1 but i doubt you would like that as much..  it was a fair compromise.

That isn't a convincing argument imo. uᴉoɔʇᴉq has 21M coins, but with 8 decimal places the 'million' in the coin supply doesn't really mean millions does it? It's just a number, and the value for 1 satoshi is all that matters to end users. uᴉoɔʇᴉq would be the same with 210,000,000,000 coins and 4 decimal places (afaik). BUT, changing from 21 M with 8 places to anything else after the launch would matter. It looks bad, and was unnecessary ... millions, billions, trillions ... uᴉoɔʇᴉq can handle them all with 21M and 8 decimals, and so too could syscoin


edit: 'Yea we could have started a new project and not sharedropped on sys1 but i doubt you would like that as much' - if you did this would anyone trust you or your team ever again?

edit2: to answer you, I would not like it, as it would mean you would have scammed me as a sys1 investor

2 billion were not needed especially for a service based coin.

[kennyP]

2 billion were not needed especially for a service based coin.

I understand that, and I like sys2 direction a lot. I just hope the coin supply change doesn't generate negative blow-back perceptions in the future.

[b1007]

...there is some real economy uᴉoɔʇᴉq killer app stuff going on.

I hate to be a negative nelly, but what, exactly, are you referring to here?

Tired of hearing the same buzzwords

Absolutely.

...but these guys seem to actually make it happen.

Cool. I must have missed something. What is it? Precisely, I mean?

This video made me a long-term believer in Syscoin;

https://www.youtube.com/watch?v=BtobhjssZJ8

But I got to admit, there might be some competition in this niche. It's however a great opportunity, not a guaranteed homerun. I mean having one great platform that actually works is one thing, but how to get as many users as possible within a competetive market?

[b1007]

Also, impressive beta demo  ;

https://www.youtube.com/watch?v=IjT_TupIHYE&ebc=ANyPxKoHg02NU3341-dPAlyK6Le2Fd6B9udstigxPdvDI7yNpGNzehkmQA9W9eY1QX_Ip7aHLage

Seems like the platform is great, I hope it goes mainstream, does Sys team think it's perhaps a good idea to try to partnership with some big names (E-Bay, Amazon, MS) ?

[revelacaogr]

The Sys Slack invite on the op returns the following message:

Failed! token_revoked

 

That's odd the API token must have expired or something, I'll fix this tonight. if you want to PM me your email I'll manually send you an invite.

I was actually looking at the bigger picture, like online markets/stores in general like Ebay, auctoin sites, online warehouses where you use fiat currency. For Average Joe there is not much reason to flock to uᴉoɔʇᴉq yet in terms of trading goods, besides purse.io and a few individual merchants. Maybe decentralized markets such as Syscoin, OpenBazaar and BitBay could change this. But that's way ahead in the future. For me, cryptoland's initial reaction will tell much about the future of decentralized markets.

I'm also wondering why you are sticking with the name Syscoin? If the main feature is a decentralized market, it would sound more logical to me to rebrand Syscoin to something more familiar like Marketcoin, Bitmarket, Plazacoin or maybe Agora?

This is something we heavily debated internally, and are still discussing actually. Because Syscoin will likely have other features beyond just the marketplace (assets, prediction markets both possible) choosing a brand name that is solely related to the marketplace function could artificially limit Syscoin's value. As such we'd want to choose a new name that doesn't have "coin" or "cash" in it but is a more general platform brand. I like Agora, i mean i know its still limiting in that its greek for marketplace but i like how its not as direct as "marketcoin" etc.

The problem with Agora is that its also the name of a darkmarket, and we don't want to lead with that. This branding thing is still a topic of discussion. Interested to hear what the community think on this topic- if we were to rebrand the time to do it would be this upcoming 2.0 launch. If we choose to rebrand it would also incur come additional work as we'd need to update all our materials accoringly, which would delay the 2.0 launch - something we're trying to avoid.


In other News:

Syscoin 2.0 Final Coin Specs - http://syscoin.org/syscoin-2-0-final-coin-parameters/
Syscoin debuts final 2.0 Beta - http://siliconangle.com/blog/2016/03/31/altcoin-syscoin-release-final-2-0-beta-releases-a-range-of-new-decentralized-functions/

To be clear the final 2.0 beta is being released tonight (US/PST) along with another blog post!

opinion:i want to use these wikis xplanation: https://en.wikipedia.org/wiki/Agora  http://www.stoa.org/athens/sites/agora.html  and info for the word AGORA for u to anderstand that the principles of this  name have  a lot more power, intrinsic value  and a lot more aristocratic roots then a dark market.
But this is my opinion.....
thanks

[M0ndialu]

 

[AngryDwarf]

I wouldn't rebrand lightly due to the confusion that will occur, e.g. "What happened to Syscoin?". There is also a crypto out there known as Agoras Tokens. I personally wouldn't complicate the impending release at this time.

[4emily]

The Sys Slack invite on the op returns the following message:

Failed! token_revoked

 

That's odd the API token must have expired or something, I'll fix this tonight. if you want to PM me your email I'll manually send you an invite.

Thanks - now resolved 

[fher98]

Hello everybody,

Im trying to download from https://github.com/syscoin/syscoin/releases/download/1.5.1.1/Syscoin_v1.5.1.1.zip but my AV reports Win32:malware-gen. Could be a false alarm?

thanks

That's a false alarm, the miner is sometimes reported as this but its safe.

OK thanks!

[jokumat]

Hmm. First, your new plan seems marginally better than your old plan. However, changing the fundamental characteristics of the distribution at all just seems shifty.

You seem to contradict yourself. If you really believe this is a launch of a new coin (with the old coin maybe still continuing) then why are you complaining about changing the fundamental characteristics? Changing of something which continues to exist unchanged? Stick to your sys1 coins if you want to keep the same "fundamental characteristics". You (same as everybody else) are free to go on with the development of the old sys blockchain.

In my opinion it is a good thing if developers
1) own a stake in their coin
2) have money enough for continued development

The transition from Sys 1 to Sys 2 is big enough to justify some changes in the design.

[jokumat]

Another comments:

1. Conversion 1:1 : Great!
2. Changing the name: I would be careful with this
3. Could they have started a new coin with a completely new distribution? No and they know it well. The reputation matters.

[danosphere]

Hmm. First, your new plan seems marginally better than your old plan. However, changing the fundamental characteristics of the distribution at all just seems shifty.

You seem to contradict yourself. If you really believe this is a launch of a new coin (with the old coin maybe still continuing) then why are you complaining about changing the fundamental characteristics? Changing of something which continues to exist unchanged? Stick to your sys1 coins if you want to keep the same "fundamental characteristics". You (same as everybody else) are free to go on with the development of the old sys blockchain.

In my opinion it is a good thing if developers
1) own a stake in their coin
2) have money enough for continued development

The transition from Sys 1 to Sys 2 is big enough to justify some changes in the design.

Well said!

Another comments:

1. Conversion 1:1 : Great!
2. Changing the name: I would be careful with this
3. Could they have started a new coin with a completely new distribution? No and they know it well. The reputation matters.

I agree on #2, atm we are planning on updating the logo but not changing the name although we did consider it and discuss some options.

You're correct on #3 as well- and we wouldn't want to leave sys1 investors high and dry like that, they're support is what help makes all this possible so we did our best to transition their value into this new token without sacrificing the long term vision by treating the old design as rigid and unchangeable.

---

On another note we want to make sure that Syscoin is mineable easily and immediately upon 2.0 launch. The team will be standing up and hosting a merged mining pool, at the moment it will be SYS/BTC merged mined but we can add other SHA256 coins as well. There will likely be a 1-3% fee which will go entirely toward hosting and maintenance costs- running a merge mine pool is not cheap it turns out. The setup costs are 3BTC, and monthly hosting is $160/mo.

Some very kind community members in slack volunteered to donate to this effort, if you're a miner and/or a community member who would like to support the 2.0 network/launch, please send BTC to this address, designated for the pool operating fund:

15FsfLcQj7jYJuQ1zxkZ6MGpr1udNRH9br

If we recieve enough donations we'll remove the fee altogether!