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Author Topic: [ANN] Syscoin- FINAL 2.0 LAUNCHED! *ENCRYPTION, MARKETPLACE, BTC INTEGRATION*  (Read 582127 times)
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ethought
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October 15, 2014, 12:58:36 PM
 #1821

I really hope the dev. team get the outstanding IPO funds!!

Fingers and toes crossed.
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October 15, 2014, 02:10:45 PM
 #1822

I've been very supportive of Moolah in this thread, but if they (he) mess this up I won't have words to express how pissed I am. Escrow means funds are kept safe and untouched until release criteria are met, so there really shouldn't be a problem right....?

Wow, big screw up by Moolah.

Does anyone know how much of the syscoin ipo funds Moolah was sitting on?

edit: 1500 BTC was the total IPO, but a part has been received right?

Part has been received yes, but an outstanding amount is still to come. Full details are here, http://syscoin.org/download-syscoin-v0-1-5-rc3public-beta-3-and-moolah-presale-funding-update/

"MOOLAH PRESALE FUNDING UPDATE

There have been a number of questions swirling about regarding Moolah, our escrow provider, who recently made this announcement. They still hold a majority (67%) of the 1500btc raised during the Syscoin presale. In light of recent information we are working with our escrow provider for a full release of the funds so that we can continue Syscoin development as planned.
 
We are working as fast as possible to find a resolution to this situation which impacts both the team and investors. Regardless of the situation with Moolah the Syscoin team remains committed to developing and advancing the features and growth of Syscoin. Read some posts on our blog or look at the features present in RC3 or the roadmap. We’re here for the long term and we appreciate the support the community has shown us."



They shouldn't have been able to touch the escrowed funds, they weren't for them to use they were just for them to hold. They should all be there, and if they aren't then I think legal recourse would be more than appropriate.
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October 15, 2014, 02:24:16 PM
 #1823

sadly i believe since funds were in moolah they are lost. they only speak some stuff about "clients funds" while this was business partnership. also i even doubt clients will get anything back.
didnt hear anything from Dan so far so im just "guessing" based on what i read online here and there.

if moolah that was supossed to bring SYS to the tops will actually be its biggest enemy.. this will totally blow.

i have a LARGE portios of SYS since ICO, been holding and not selling.

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October 15, 2014, 02:33:49 PM
 #1824

We'll be giving the full information shortly, no point in guessing with the information that's out there now. We are talking to Moolah and we are trying to get some clarity, once we do - We'll update - On the swing of that, https://twitter.com/moolah_io/status/522382034652499969

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October 15, 2014, 02:42:51 PM
 #1825

True. Deleting my wispy speculation.

We'll be giving the full information shortly, no point in guessing with the information that's out there now. We are talking to Moolah and we are trying to get some clarity, once we do - We'll update - On the swing of that, https://twitter.com/moolah_io/status/522382034652499969
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October 15, 2014, 03:34:06 PM
 #1826

Moolah update: http://blog.moolah.io/2014/10/15/the-reports-of-my-death-have-been-greatly-exaggerated/
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October 15, 2014, 03:42:41 PM
 #1827

Got to love the "strong code of ethics " part....we'll see.
Letting these guys have their escrow will certainly sway my opinion.

Their only screwup is trusting moolah and Alex Green.

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October 15, 2014, 03:45:29 PM
 #1828

Got to love the "strong code of ethics " part....we'll see.
Letting these guys have their escrow will certainly sway my opinion.

Their only screwup is trusting moolah and Alex Green.

I guess it depends of Moolah releases the 250 BTC per month.  That was the arrangement, if they follow that there should be no issues.

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October 15, 2014, 04:15:00 PM
 #1829

whats up with the price?

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October 15, 2014, 04:18:06 PM
 #1830

Weak hands dumping after Moolah news, maybe

Definitely a good time to buy, perhaps

whats up with the price?
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October 15, 2014, 04:18:52 PM
 #1831

whats up with the price?

Nothing has been UP for weeks now.  Cheesy

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October 15, 2014, 04:21:19 PM
 #1832

whats up with the price?

Nothing has been UP for weeks now.  Cheesy

HOW ecatly has its been UP - 2nd of october it was 360-380. Today its 220-235 roughly

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October 15, 2014, 04:32:07 PM
 #1833

Who are dumping SYS in this very low price, I really can't understand why.
Me neither, as the devs are getting closer to releasing the proper user interface for all the exciting SYS features.
Probably it was someone that needed the money out, so he sold (at a loss). At Mintpal it was one dump, at Allcoin
there was a series of smaller sales, each progressively lower. I am still holding, even considering buying more at
these low prices...

Yeah we can't explain the price movements but that has zero impact on our plans / work unless we get strong signals from the community the work is going the wrong way. We're still working hard here, promo #1 just started with a wide variety of partners, getting a blog post together on it right now. There is so much going on internally, its disappointing to see price dropping but those who have some vision and patience here will do very well.

probably miners cashing in if i could guess

i don't mean to be negative but why is there so many coins... 2billion total at the end of the day

i just wanna know the reason for having such a large supply

Please look at the mining schedule, your children's children will have children before it get's to 2 billion..
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October 15, 2014, 04:34:10 PM
 #1834

Update article :

http://www.cryptoarticles.com/crypto-news/syscoin-015-rc3-available-now-moolah-presale-funds-update

Keep up the good work Smiley
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October 15, 2014, 05:20:33 PM
 #1835


Thanks for that.
From our point of view nothing has changed, we are still going full steam ahead here.

http://syscoin.org/download-syscoin-v0-1-5-rc3public-beta-3-and-moolah-presale-funding-update/
http://syscoin.org/bitcoin-2-0-the-knowledge-economy-and-the-future-of-syscoin/

Something important to note for RC3.
"There are some enhancements in RC3 that are important to know about. SendToAlias in RC2 required the Alias owner to populate the “value” field with a valid Syscoin address. Not anymore! Today you get that space back. You can now SendToAlias regardless of the “value” – the transaction will always reach the owner’s wallet. This works for all transaction types including service transactions. This SendToAlias enhancement increases the utility of aliases as you can now dual purpose them! As of RC3 you can have users use SendToAlias to any Alias you own and you will receive the funds/aliases/etc.!"
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October 15, 2014, 05:50:42 PM
 #1836

At this point I'm sure no investors would object to the dev team getting the money in full. Fingers crossed.

I certainly support the team receiving their funds in full. They have showed their dedication many times over, and there is no reason to with hold any longer.

They shouldn't have been able to touch the escrowed funds, they weren't for them to use they were just for them to hold. They should all be there, and if they aren't then I think legal recourse would be more than appropriate.

@stormia this is 100% accurate and given light of the recent news we are working with Moolah/Alex to arrange a full release of all BTC escrow funds and SYS (remember the team spent 250btc of the fund as "buy support" during the launch issues to allow investors to exit without taking any loss themselves, this equates to 50-60mil SYS from what we've been told). We did not receive the 250btc payment that was due yesterday (10/14). Once we receive the full fund, we do plan to add buy support.

We are waiting on a reply from Alex (@slex) at this point, we understand things are likely very busy on his end but given the size of the funding we're talking about here we'd hope this is addressed as expediently as possible. I've been on Skype since the Moolah blog-announcement broke last night waiting to talk to him.

As mentioned in the blog post yesterday evening the team is still fully committed to Syscoin and the vision it represents. Please excuse us if we're a bit slow on development over the next 2-3 days as we work to resolve the situation with Moolah and retrieve our escrow fund.

Syscoin: Business on the Blockchain. - Buy and sell goods and services, send encrypted messages and more all secured by the blockchain.
Syscoin Website | Syscoin Whitepaper | Syscoin Team Price Peg
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October 15, 2014, 06:03:28 PM
 #1837

At this point I'm sure no investors would object to the dev team getting the money in full. Fingers crossed.

I certainly support the team receiving their funds in full. They have showed their dedication many times over, and there is no reason to with hold any longer.

They shouldn't have been able to touch the escrowed funds, they weren't for them to use they were just for them to hold. They should all be there, and if they aren't then I think legal recourse would be more than appropriate.

@stormia this is 100% accurate and given light of the recent news we are working with Moolah/Alex to arrange a full release of all BTC escrow funds and SYS (remember the team spent 250btc of the fund as "buy support" during the launch issues to allow investors to exit without taking any loss themselves, this equates to 50-60mil SYS from what we've been told). We did not receive the 250btc payment that was due yesterday (10/14). Once we receive the full fund, we do plan to add buy support.

We are waiting on a reply from Alex (@slex) at this point, we understand things are likely very busy on his end but given the size of the funding we're talking about here we'd hope this is addressed as expediently as possible. I've been on Skype since the Moolah blog-announcement broke last night waiting to talk to him.

As mentioned in the blog post yesterday evening the team is still fully committed to Syscoin and the vision it represents. Please excuse us if we're a bit slow on development over the next 2-3 days as we work to resolve the situation with Moolah and retrieve our escrow fund.

Why would you add buy support after your experience with it last time? If people want to sell, let them. It's part of the price discovery mechanism and people who are selling obviously think that the current price is an appropriate one. It doesn't seem like the best use of funds IMO.
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October 15, 2014, 06:12:25 PM
 #1838

I really hope the dev. team get the outstanding IPO funds!!

Fingers and toes crossed.
do they deserve it? 1500BTC worth of SYS sold on ipo at 500 sat, current price 215sat. overall loss ~800 BTC
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October 15, 2014, 06:18:49 PM
 #1839

I really hope the dev. team get the outstanding IPO funds!!

Fingers and toes crossed.
do they deserve it? 1500BTC worth of SYS sold on ipo at 500 sat, current price 215sat. overall loss ~800 BTC

lol, damn

When the IPO was going on BTC was $750/BTC.  Now it's $388/BTC, so the $750,000 IPO is now only worth $388,000.

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October 15, 2014, 06:20:00 PM
 #1840

Hey guys - just curious, are there issue with syscoin.org for anyone else? Getting redirected to http://syscoin.org/cgi-sys/suspendedpage.cgi
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