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

[kencoles]

Only option would be 1:1 exchange to a new coin.

Maybe a poll would be helpful. The only thing i can say is that a new coin is only needed if there are big technical problems wich cannot be resolved with the current platform.

Edit: Strength is if the team says we can do it without IPO. I think community can do some donation if work is good and everything is fine.

New coin with new features and road maps might solve the problem.

[DRPD]

john312, nice to hear some opinions. But with new coin, only the name would be changed. Lots of effort for nothing. If Syscoin is still called Syscoin and the Moolah issue is forgotten in the future, then it's called the coin which survived moolah scam, otherwise not. 1st option makes it stronger. 2nd option makes it less trustworthy for me. I would have to sell my coins and then buy new IPO? No! I will loose my faith. Only option would be 1:1 exchange to a new coin.

Maybe a poll would be helpful. The only thing i can say is that a new coin is only needed if there are big technical problems wich cannot be resolved with the current platform.

Edit: Strength is if the team says we can do it without IPO. I think community can do some donation if work is good and everything is fine.

this!!
why should i buy a new coin from the same team?
if the dev's drop sys and create a new coin, they will maybe do the same with the new coin if anything goes wrong.

stay with sys is a clear and trustworthy signal .... What doesn't kill you makes you stronger!

[stereotype]

New coin with new features and road maps might solve the problem.

The problem is Ryan Kennedy's deluded expectations, not this coin.

[Beachguy]

Thank you Dan for the update and releasing
all the details.
Most of us have known all along that you guys are pursuing
this scammer with a vengance.

At this point it looks like a civil case, do the devs think a criminal case is brewing as well?
Is there a British equivalent of FinCEN there?

Here, in the US a couple years ago there was a $600 million Ponzi called Zeek Rewards
(international in scope, google it to learn more),
once the Federal courts got done with the key people as a civil case (people got back about .35 on the dollar),
the criminal charges were filed and are currently being pursued.

Oh, keep this coin and its name going.
Emerging through all this will show ability, resolve and strength to the crypto community.
Stay on track guys!

[Zebedee23]

This might seem like a controversial idea but we could at least discuss it. We all agree that Syscoin has great technology and even more potential. The dev team is solid and did not run away in the light of recent scam. However, the team lacks their funds now, Syscoin is tainted by the Moolah scandal, there are plenty of bagholders and there is a risk that Moolah will kill the coin easily by dumping all the stolen Sys (it could easily collapse the market down to 0).

Current situation is not dev's fault. People might be mad that they lost money on this by investing in Syscoin at prices higher than 200 satoshi but the outcome was not the dev's fault. Should we start a new coin + bring all the Syscoin technology there + give old Syscoin holders discount at the ICO? There is no other way to fix current situation. Bagholders are bagholding (or selling when the price slightly goes up), new people won't be attracted by the coin (they have plenty of fresh coins to chose from that bring similar technology and are not tainted) and Syscoin brand does not bring good connotations.

So main question is: should we restart as a new coin?

What a rediculously stupid idea!! lol

[snipsnoop]

New coin with new features and road maps might solve the problem.

The problem is Ryan Kennedy's deluded expectations, not this coin.

Not saying anything, but just have a look at his witness statement. Says it all
Major Update In Syscoin Case Against Ryan Kennedy/Moopay LTD

[stereotype]

New coin with new features and road maps might solve the problem.

The problem is Ryan Kennedy's deluded expectations, not this coin.

Not saying anything, but just have a look at his witness statement. Says it all
Major Update In Syscoin Case Against Ryan Kennedy/Moopay LTD

It says he has dug himself a big enough hole, that he is going to flee, when his hard-drive cant substantiate his claim/s of missing coin taken by customers, and/or bugs.
How he is going to explain that he has never held the escrowed fund, is beyond belief. 

[Sons_of_Crypto]

i don't mean to ask about price/valuation of this coin....but well, what's up with the price/valuation of SYS?!?!?  i can understand the whole minptal debacle taking its toll, but we need to move past this and let SYS and the courts/whatever authorities handle that now. 

SYS development and value is what NEEDS to be concentrated on from here on out!  lots of investors are counting on this coin.

[WORE]

This might seem like a controversial idea but we could at least discuss it. We all agree that Syscoin has great technology and even more potential. The dev team is solid and did not run away in the light of recent scam. However, the team lacks their funds now, Syscoin is tainted by the Moolah scandal, there are plenty of bagholders and there is a risk that Moolah will kill the coin easily by dumping all the stolen Sys (it could easily collapse the market down to 0).

Current situation is not dev's fault. People might be mad that they lost money on this by investing in Syscoin at prices higher than 200 satoshi but the outcome was not the dev's fault. Should we start a new coin + bring all the Syscoin technology there + give old Syscoin holders discount at the ICO? There is no other way to fix current situation. Bagholders are bagholding (or selling when the price slightly goes up), new people won't be attracted by the coin (they have plenty of fresh coins to chose from that bring similar technology and are not tainted) and Syscoin brand does not bring good connotations.

So main question is: should we restart as a new coin?

I think moolah has returned the sys they had from the buy walls to the devs. Syscoin could also be withdrawn from mintpal without problems. What stolen sys do you mean?

The situation is not great, but I can guarantee you starting a new ICO will be a disaster. Syscoin has a fail-image right now, it is irrelevant that it's not all the devs fault.

I would like to read the blog post, but it says the text is password-protected. Thats not intended, right?

I agree that Syscoin has fail-image right now but the devs still have positive image and Syscoin technology. I agree with Qiuyue201 - starting a new coin might be the best move.

Jumping from one coin to the next is not a good approach. I'm in for the long haul.
Improving the tech and finishing the intended product which is IMO unique will bring to light what sys has to offer.
Yes, it has been a rocky couple of months but we can only go up from here on.

i agree. i don't post a lot here but i own a few millions sys and holding for the long run.
starting a new coin is a bad idea in my opinion and i would not invest in a new coin.

btw. the blog is just working fine for me (interesting read!)
 

It's always a hard decision and some people will be unhappy no matter what choice will be made.
Starting a new coin from scratch with the same great team and perhaps new ICO + some discount if you are a Sys holder might be a good idea.
We have great team but many issues to cope with. Those issues are holding the coin down and that won't change.
Most people in crypto don't even consider investing in failed coins like Sys (because let's face it - despite our community holding strong and devs working hard, Syscoin is considered as one of the failed coins). I am one of the bagholders too, so I will lose some money on this too, but it's better to lose now than when it hits 50 satoshi. Starting from a scratch without this whole baggage seems like a good choice, although it might make ICO holders unhappy. But crypto is gamble so everyone knew the risk taken.

50 sats?  okay we know where your buy order is... 

[WORE]

New coin with new features and road maps might solve the problem.

The problem is Ryan Kennedy's deluded expectations, not this coin.

Aside from being a liar and thief, in a lather rinse, repeat sort of way.

[WORE]

New coin with new features and road maps might solve the problem.

The problem is Ryan Kennedy's deluded expectations, not this coin.

Not saying anything, but just have a look at his witness statement. Says it all
Major Update In Syscoin Case Against Ryan Kennedy/Moopay LTD

that he is going to flee, when his hard-drive cant substantiate his claim/s of missing coin taken by customers, and/or bugs.

Next news report will be; Police find Ryan Kennedy naked and duct taped to fire hydrant in queer town with a bright future in gay porn.

[Zebedee23]

This might seem like a controversial idea but we could at least discuss it. We all agree that Syscoin has great technology and even more potential. The dev team is solid and did not run away in the light of recent scam. However, the team lacks their funds now, Syscoin is tainted by the Moolah scandal, there are plenty of bagholders and there is a risk that Moolah will kill the coin easily by dumping all the stolen Sys (it could easily collapse the market down to 0).

Current situation is not dev's fault. People might be mad that they lost money on this by investing in Syscoin at prices higher than 200 satoshi but the outcome was not the dev's fault. Should we start a new coin + bring all the Syscoin technology there + give old Syscoin holders discount at the ICO? There is no other way to fix current situation. Bagholders are bagholding (or selling when the price slightly goes up), new people won't be attracted by the coin (they have plenty of fresh coins to chose from that bring similar technology and are not tainted) and Syscoin brand does not bring good connotations.

So main question is: should we restart as a new coin?

I think moolah has returned the sys they had from the buy walls to the devs. Syscoin could also be withdrawn from mintpal without problems. What stolen sys do you mean?

The situation is not great, but I can guarantee you starting a new ICO will be a disaster. Syscoin has a fail-image right now, it is irrelevant that it's not all the devs fault.

I would like to read the blog post, but it says the text is password-protected. Thats not intended, right?

I agree that Syscoin has fail-image right now but the devs still have positive image and Syscoin technology. I agree with Qiuyue201 - starting a new coin might be the best move.

Jumping from one coin to the next is not a good approach. I'm in for the long haul.
Improving the tech and finishing the intended product which is IMO unique will bring to light what sys has to offer.
Yes, it has been a rocky couple of months but we can only go up from here on.

i agree. i don't post a lot here but i own a few millions sys and holding for the long run.
starting a new coin is a bad idea in my opinion and i would not invest in a new coin.

btw. the blog is just working fine for me (interesting read!)
 

It's always a hard decision and some people will be unhappy no matter what choice will be made.
Starting a new coin from scratch with the same great team and perhaps new ICO + some discount if you are a Sys holder might be a good idea.
We have great team but many issues to cope with. Those issues are holding the coin down and that won't change.
Most people in crypto don't even consider investing in failed coins like Sys (because let's face it - despite our community holding strong and devs working hard, Syscoin is considered as one of the failed coins). I am one of the bagholders too, so I will lose some money on this too, but it's better to lose now than when it hits 50 satoshi. Starting from a scratch without this whole baggage seems like a good choice, although it might make ICO holders unhappy. But crypto is gamble so everyone knew the risk taken.

50 sats?  okay we know where your buy order is... 

Well John wont be getting any coins then!!! If you like SYS buy some while its cheap!! This coin wont be abandoned and then  a Sys 2.0 made just to please some idiots who prob hold less than .2 BTCs worth!!!

[arcticlava]

All that matters is that development continues. Ironic how trustless escrow is one of the first items on the roadmap. If that alone is implemented - you have a stepping stone for everyone else needing this service - forever.

Also if asymmetric ENCRYPTED data on the blockchain is implemented - there will be a gold rush to develop apps to use it in almost every industry. And I don't mean a gold rush in terms of SYS price (although the price would follow when the number of transactions goes up). I mean for the apps themselves. There is nothing else on the horizon that allows for secure data transmission and secure data storage on the same blockchain. It's revolutionary, and once the devs demonstrate how third party devs could get going with SYS for a platform, SYS will have a life of its own independent of its birth pains.

UNENCRYPTED data transmission using datanew, dataactivate and dataupdate is already implemented in the console and I've tested it and it is sound. More people should try it out and think of how it could have an impact on various industries.

[sphericon]

And don't forget--this is an excerpt from an earlier blog post on the site. If anybody is losing faith in the team due to the moolah debacle, just read this and remember why you invested in this coin in the first place.

For the 0.1.6 wallet we will be rewriting the wallet-interface front end from scratch. This is partially why the date for the 0.1.6 release shifted and it is still a target date at this point. In the 0.1.6 wallet the alias interfaces will be recreated and improved alongside the new marketplace interfaces.
 
This new wallet will enable us to deliver a much richer experience, leveraging a greater percentage of the team’s skill sets while delivering more rapidly than ever before; for desktop and mobile platforms. Because this is such a radical shift moving from the interface language used in 0.1.5 [qt] to that used 0.1.6 [html/css/js] we will need more time to properly test this initial cutover and our packaging of it. Once on the 0.1.6 wallet, it is not unrealistic for updates 0.1.7 – 0.1.9 to be shifted forward in the timeline.
 
Remember, we already have all of the “features” for releases 0.1.7-0.1.9 completed, the releases simply dress them in more usable interfaces and enhance the features themselves based on RC feedback. There is nothing stopping developers from using the toolkits in our github repo, facilitating the development of better interfaces for these services right now!
 

[cryptodaknight]

I totally support syscoin, but unfortunately if new coin was made with ICO, i would not be involved.

This would be more problems than just fixing imagine of this coin. As the imagine can be fixed with results and successful lawsuit and press from that.

There is no need for a new coin. Starting over too could very well produce few BTC to even be worth it. Really to fix image of coin is more hard work from developers and mostly just getting the business on blockchain out for people to use.

Once that happens people will finally see what is behind the cool tech syscoin has created.

[sidhujag]

With alts you dont invest in the coin tech as much as the people. Why would you invest in a sys 2.0 if it doesnt involve the same people? You think they would come to same result technically from scratch like we did?

[danosphere]

I totally support syscoin, but unfortunately if new coin was made with ICO, i would not be involved.

This would be more problems than just fixing imagine of this coin. As the imagine can be fixed with results and successful lawsuit and press from that.

There is no need for a new coin. Starting over too could very well produce few BTC to even be worth it. Really to fix image of coin is more hard work from developers and mostly just getting the business on blockchain out for people to use.

Once that happens people will finally see what is behind the cool tech syscoin has created.

TO be clear haven't announced we're making any new coin. Currently we are focused on the legal issues. We fully intend on continuing with Syscoin (1) development but we must address the missing funds in the interests of investors, coin development itself, and crypto in general.

I want to reiterate - we are not creating a new coin. We are focusing on legal and internal development processes and initiatives - as posted in recent blog posts.

The post yesterday was intended to be password protected with the password disseminated to CURRENT Syscoin investors. Right now the blog is having issues [again]; we'll have this resolved shortly and then release the password as initially intended.

[danosphere]

And don't forget--this is an excerpt from an earlier blog post on the site. If anybody is losing faith in the team due to the moolah debacle, just read this and remember why you invested in this coin in the first place.

For the 0.1.6 wallet we will be rewriting the wallet-interface front end from scratch. This is partially why the date for the 0.1.6 release shifted and it is still a target date at this point. In the 0.1.6 wallet the alias interfaces will be recreated and improved alongside the new marketplace interfaces.
 
This new wallet will enable us to deliver a much richer experience, leveraging a greater percentage of the team’s skill sets while delivering more rapidly than ever before; for desktop and mobile platforms. Because this is such a radical shift moving from the interface language used in 0.1.5 [qt] to that used 0.1.6 [html/css/js] we will need more time to properly test this initial cutover and our packaging of it. Once on the 0.1.6 wallet, it is not unrealistic for updates 0.1.7 – 0.1.9 to be shifted forward in the timeline.
 
Remember, we already have all of the “features” for releases 0.1.7-0.1.9 completed, the releases simply dress them in more usable interfaces and enhance the features themselves based on RC feedback. There is nothing stopping developers from using the toolkits in our github repo, facilitating the development of better interfaces for these services right now!
 

+100  all of the above is still true.

[danosphere]

Sorry just catching up on several pages of commentary. Few gems I feel are worth bringing back to the forefront:

RIP this coin. No code update in about 2-3 weeks.

You guys are coder not lawyers, why aren't you coding ?

Dude, when you retain an attorney for most any kind of legal action , he gives you plenty to do so he can do HIS job.
Why are you coming here making comments like this?
Wanting to drive the price down so you can buy some cheap?

@Beachguy nailed it on the head. They don't just do all the work for you and hand you winnings at the end. They help organize it and strategize it into the most effective format for success, this involves significant time from both parties. Additionally evidence related to this case is all over the internet, curating that into a single narrative takes time. We are still developing SYS and SYS projects (mobile wallets, wwwallet, etc).

I've read it briefly..

So Ryan first says that the SYScoin Bitcoins were never in his possession, but then he says they were stolen because of a "bug".
So if they were stolen due to this "bug" it means that the SYS IPO bitcoins were stored in the HOT WALLET on the platform(mintpal v2 ??) ?    
What were they doing on the Hot wallet ?

So many lies, what do I miss ?

Excellent questions  

[SirEGB]

It is a shame that this has happened to the Sys community, but it does not mean it is the end of Sys.  I believe it is still possible to move on although it would certainly speed things up if we had the funds.