Moolah Partnership (
http://moolah.io). Moolah is securing the Syscoin presale via their escrow platform. We have a dedicated partnership in place so there will be a custom portal specifically for Syscoin presale investors to reserve their coins. Once the Syscoin Team successfully delivers/launches Syscoin, Moolah will assist in distributing the Syscoin to investors via pub/priv keys that can be imported directly into your Syscoin wallet.
This partnership goes beyond just the presale and launch of Syscoin. Moolah offers a host of crypto related services to the
global marketplace, they are not just limited to US customers. They have a trading platform, a merchant platform, and an escrow platform already in place and are in the process of building numerous other services for the crypto space. They have never once been hacked. This is a strategic partnership not only to provide a secure escrow platform for presale investors but also to allow for long term growth of Syscoin via an immediate ecosystem of services enabled by Moolah. Moolah is currently in the process of transitioning all of their core services to their V2 platform for assured reliability- Syscoin will be available through these services. Moolah's V2 trading platform will also be the
first exchange to offer Syscoin.
There are natural intersections between the services Syscoin offers and the platform capabilities Moolah can directly implement on top those distributed services. We look forward to exploring these possibilities with the Moolah team. Together we could bring the first decentralized large-scale marketplaces, digital certificates, datastore, and other such services to the mainstream market. We're excited to announce this partnership and move forward with such a well known pillar of the crypto community!
Presale Details:PLEASE READ FULL POST, AND FAQ BEFORE PURCHASING PRESALE SYSCOIN. READ EVERYTHING ON THIS FIRST POST.15% of all Syscoin to be minted is available for presale. This presale is being run 100% through escrow provided by Moolah.io (Moopay LTD, registered with FinCen) for the security of investors. We are offering this service at 0% fee to investors thanks to our partnership with Moolah.
***PRESALE ENDS AUGUST 16th OR WHEN ALL 15% SELL OUT, WHICHEVER IS FIRST. SYSCOIN LAUNCHES AUGUST 16, 2014!***>> PRESALE PUBLIC LEDGER << - Go to http://moolah.io/syscoin, it contains all of the pricing details related to the presale.
- Fill out the form fields, making sure to use a valid email address as this is where further instructions for securing your presale Syscoin will be sent.
- Check your email, send EXACTLY the amount specific in the email PLUS the service fees to the address shown in the email- this address is specific to you.
- After sending the BTC amount, you will receive a confirmation email confirming that you have secured your presale Syscoin.
- If you wish to purchase more Syscoin after your initial investment, use the portal again. DO NOT SEND additional BTC to the original address.
PLEASE READ: Presale purchases are final. There will be no individual refunds unless the Syscoin Team does not deliver. Delivery is defined as: Syscoin as a universally merge-mineable coin with the 4 features outlined in preann (marketplace, certificates, name aliases, and data aliases) as described by the Syscoin team.
Double check your numbers before sending BTC! In the event the Syscoin Team does not deliver Syscoin, all presale purchases will be refunded. In that event Moolah will reach out to investors to verify the refund-address before issuing the refund.Presale Purchase Bonuses:Tier One (Offered with a minimum 0.25BTC purchase:)Hard Wallet Bronze
Syscoin Metal Keyring
Tier Two (Offered with a minimum 1BTC purchase):Hard Wallet Silver
Syscoin Baseball Cap (One Size Fits All)
Syscoin Metal Keyring
Syscoin Phone Case (Specific Models) (iPhone 4,5,5c - Galaxy S3, S4,S5 - HTC One, X)
Tier Three (Offered with a minimum 5BTC purchase):Hard Wallet Black
Syscoin Lanyard
Syscoin USB (32mb)
Syscoin Mousemat
Syscoin Baseball Cap (One Size Fits All)
Syscoin T-Shirt (S, M, XL, XXL)
Syscoin Metal Keyring
Syscoin Phone Case (Specific Models) (iPhone 4,5,5c - Galaxy S3, S4,S5 - HTC One, X)
OR iPad 2, iPad Air, Galaxy Note Tab 2, or 3 Hard Case
Info:Hard Wallet: The Syscoin Hardwallet will come with your Public Key and a Unique QR Code that will link (upon scan) Via the Syscoin iPhone App, A base functionality of this would be for someone who wishes to pay you in Syscoin to simply scan your hard wallet to gain your address. The Wallet will also comes with a Unique Hologram of which will hold a 5 digit reference which along with your public address can be used to create an account on the Syscoin Website to gain additional features, bonus’ and benefits for current and future use. Hardwallets will be fully tracked and authorized to the particular user only.
Syscoin USB: A Standard USB 2.0 storage stick with a maximum memory of 32MB which can be used as a cold storage back up of the Syscoin Wallet, complete with lanyard.
*All products are branded with the Syscoin Official Logo and made using a Sublimation Technique, Fully Scratch / Fade Resistant.
Syscoin Presale Frequently Asked Questions (FAQ):Q: When will I get my Syscoin? Do I get them now!?
A: Syscoin purchased via presale will be delivered when the coin launches. It is impossible to deliver it sooner. The coin launch is scheduled for August 16th but may happen sooner; plan on August 16th.Q: Are there refunds?A: Only if the Syscoin Team doesn't deliver Syscoin with the features as promised.
Q: What if the presale doesn't sell out? Do buyers get the unsold Syscoin?A: No, only what is purchased will be premined and delivered. Buyers get what they pay for.
Q: Why is this fixed price? Shouldn't it be share-based?A: A base price is needed to establish fees for the myriad of Syscoin services. Additionally this is a presale not an IPO. It is not share based.
Q: When will the coin launch?A: We will launch by Aug 16th 2014 or possibly sooner if the presale sells out sooner and the platform is ready.
Q: What's the difference between Sys and Ether?A: Syscoin is based on well known, peer reviewed codebases (Bitcoin, Litecoin, Namecoin) that have been combined and extended. Ethereum is an attempted rewrite of this in a sense to
try and deliver a turing-complete smart contract solution. This is not the same as Syscoin. Additionally:
- If you want to see your investment this year, Syscoin is delivered August 16, 2014.
- The amount of ether that will be mined every year is dependent on how many they sell during IPO. The more they sell the more that will be mined the year of release, giving a bigger dilution to the already mined/bought coins.
- After Ether presale closes you have to wait till at least December/January to see anything; if at all.
- Syscoin offers a 100% refund on failure to deliver (escrow thru Moolah). Ethereum team is allowed to use up to 5000btc before anything is even done properly or working and if it is a complete failure not a single refund.
Q: What's the difference between Sys and Cloakcoin?A: Please see
this detailed comparison.
Q: Can I sell my presale Syscoin before the coin launches?A: Not through any means the Syscoin Team is providing.
Q: How will I get my physical reward after purchasing presale coins?A: The Syscoin Team will have a portal up in the next few days where you can enter your presale purchase info and and ship-to address. Once verified you're reward will be shipped ASAP. We ship internationally.
Q: What do you mean when you say Moolah will be the exclusive exchange? Will Syscoin not be on other exchanges? A: We have a partnership with Moolah and will be coordinating with them to get Syscoin on all of their platforms [including exchange] at launch as part of this partnership. This doesn't mean other exchanges can't add us. We're just working directly with Moolah in a much larger sense to try to make Syscoin's capabilities more accessible to the masses so their's will be the first exchange we are listed on.
Q: I didn't send enough BTC for my presale purchase because I forgot the network fee! What do I do?A: Simply "top up" the address you sent the initial payment to, within 6hrs you'll get a confirmation that you're top-up was successfully registered and presale purchase is complete.
Q: I like what your team is doing and wanted to purchase more presale coins, how do I do that? A: Thanks! Please walk through the form on the Moolah site a second time. You will get a new BTC address to send funds to,
do NOT send the funds to the same address as the first purchase. Don't forget to include fees!
Q: How long have you been working on this project? And could you briefly describe your planned time commitment to this going forward?A: 8+ months, time commitment moving forward is as much time as we have outside of our normal day-job/lives and we are also on-boarding additional developers to supplement that capacity if/when needed.
Q: How does the coin production/distribution setup provide insulation from the risk of massive miner/whale dumps? Is there an estimate out there of the max # of daily BTC trading volume that might be needed to absorb mined coins?A: If you check out the schedule here I think the values at the far right speak for themselves. Also keep in mind there is a 25btc limit per buyer in an attempt to insulate from an over-concentration of wealth leading to "massive dumps"
Q: How will delivery be verified. Is there a disinterested third party that will verify the guaranteed-or-refund features are 100% delivered (marketplace, certificates, name aliases, and data aliases) and work well?A: Delivery is verified by the Syscoin team similar to every other coin released in today's market. The code will be open source at launch so anyone can review it for additional verification; but the initial delivery testing and verification of the features is the responsibility of the Syscoin team. We will have demo videos of all of these features working before launch so people have a better understanding of them. No third parties are involved in verification as none were involved in forming the requirements. There is too much room for interpretation there. If investors had sent BTC prior to us implementing/writing a single line of code and provided a requirements spec-doc then this type of approach would be more feasible.
The Syscoin team has developed requirements stipulating concretely that all of these services are implemented directly on the blockchain- meaning everything is inherently decentralized
and the coin can be merge mined (or regular mined) with the specs/schedule as advertised. Beyond that the design of the individual services themselves were developed in-house and as such will need to be tested/verified as functional by the team. We considered putting out a beta but the overhead of managing this would prevent the team from working on delivering things like the [additional] escrow feature by launch (currently being worked on).
Q: What immediate plans do you have beyond delivery of these core guaranteed features to further increase the value of the coin/network?A: Collected funds are being focused on several things, primarily building partnerships with large players in the crypto space (I mean companies, not whales). We're also going to be spending some of the collection on bounties, although not all of it as we do have a small amount of Syscoin for bounties as well. Then of course, future development; we're already trying to push additional features (2) into the coin prior to launch, on top of the 4 that are already completed. Outside of that we will hold much of the BTC for ongoing costs that we can't currently predict. We already have some deals in place that look to exercise the BTC we're collecting and the deals we're working on aren't cheap, but will ultimately take Syscoin to the next level. That being said nothing can be "guaranteed to increase value" in crypto as its a highly experimental field and as such we make no such claims.
Q: along those lines, are smart-contracts/prediction markets/futures/options things you plan to implement, or can see being (fairly quickly) implementable into this framework?A: Some aspects of what you're calling out could be implemented in Syscoin fairly quickly but we have other roadmap plans that supersede them in priority at the moment. Additionally we need to discuss our roadmap after escrow and reputation systems. Once we get past that feature set it seems like there isn't a strong call for one thing or another just yet so we we're going to focus on smart-contracts within Syscoin but things like prediction markets, futures and options are on the roadmap at the moment; doesn't mean they can't be added. Keep in mind the target demographic here is large financial markets, services and systems so we will be prioritizing features in that vein of development.
Q: What do you consider the three biggest uncertainties regarding development implementation (either with core or future-beyond-core features)?A: How can we implement a fully automated escrow (we're working on an agent-based escrow currently)? How can we implement smart contracts as is commonly understood in crypto on top of the Syscoin Certificates foundational structure? Which features will be the most heavily leveraged after launch and how will that possibly change the roadmap? ie: what if data storage is a the huge feature everyone uses instead of market or certificates? How would that change our strategy/would it?
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FAQ Last updated: 8/3/2014
Bounties Have Begun!:*All bounties will be managed directly on Altcoingiveaways at *** Abusive forum blocked by Admin ***[/color]/index.php/topic,1828.0.html]THIS THREAD[/i][/b][/size]
Please respond to bounties on altcoingiveaways. It is against BCT policy to manage such items here, and we want to abide by the rules so please head over to altcoingiveaways to lock in your bounty if you haven't already PM'd me.Translations(1 reward per translation available, first come, first serve, this must be well translated and will be verified) markdown for easier translation:-- Japanese Pre-sale ANN 10000Sys
-- Turkish Pre-sale ANN 10000Sys
-- Korean Pre-sale ANN 10000Sys
-- Italian Pre-sale ANN 10000Sys
-- Spanish Pre-sale ANN 10000Sys
CLAIMED-- German Pre-sale ANN 10000Sys
CLAIMED-- Chinese Pre-sale ANN 10000Sys
CLAIMED-- Portuguese Pre-sale ANN 10000Sys
CLAIMED-- French Pre-sale ANN 10000Sys
CLAIMED-- Polish Pre-sale ANN 10000Sys
CLAIMED-- Russian Pre-sale ANN 10000Sys
CLAIMEDNews and social networking(Ongoing, can be claimed by multiple people):-- Write and publish a real news article about Syscoin.
Must be on a well-known news site. We will check traffic stats. (Ongoing, can be claimed by multiple people) 10000Sys
-- Write a blogpost about Syscoin. Must be of decent quality. (Ongoing, can be claimed by multiple people) 5000Sys
-- Google+ add to Circles and +1 30sys
-- Facebook likes 30sys
-- Follow @syscoin and retweet 30sys
-- Follow reddit and post on reddit 30sys
*More bounties regarding regular pools and merge-mined pools, merge-mined MPOS fork, first website using the Syscoin Blockchain, IRC Bot, setting up a charting site like Bitcoin wizdom, games, an android wallet, tip bots (Facebook, E-mail, Twitter, Reddit) will be announced closer-to and after the launch-date.
Proof Of Development Progress:Unlike many other coins, the features listed in this preann are all complete and awaiting launch. To substantiate these claims we have a video demo of simple Certificates in action as well as in image of the full Syscoin command list. We will be releasing additional videos as we have time during the presale/prior to launch.
Syscoin Certificates:Syscoin Commands:
Syscoin Pre-Announcement
Business on the Blockchain
General info:Innovation at it's best, Syscoin isn't just another crypto currency- it is also a value-added service and financial infrastructure integrated directly into its blockchain - something like this has never been done before! Syscoin is a crypto-currency and a financial infrastructure all in one!
Syscoin implements a distributed marketplace integrated directly into the blockchain and more! This provides huge benefits to businesses or individuals looking to secure their data or marketplace in a decentralized manner that can never be "taken down" by having a single point of failure- the network makes this impossible. Now businesses can use Syscoin's incorruptible network to ensure the security of their sensitive data even if their redundancy systems fail - in the blockchain we trust!
Syscoin ensures the health of it's network with the ability to be merge-mined with any other SCRYPT coin. Syscoin provides a variety of useful decentralized, cryptographically-secured services based on Bitcoin's Blockchain technology:
- Business on the Blockchain. Buy and sell anything with Syscoin's distributed marketplace integrated into the blockchain.
This isn't a cryptocurrency PLUS a marketplace. It's a marketplace built into a cryptocurrency. The Syscoin network enables the creation of marketplaces of any kind, ranging from small community trading platforms to large corporate marketplaces like eBay to fully encrypted hidden marketplaces. This does not limit itself to marketplaces that accept only Syscoin. Syscoin's blockchain innovations are merely an infrastructure upon which marketplaces can be built.
- Brokerage on the Blockchain. Exchange discrete data directly on the Blockchain. Documents like deeds, wills, trusts, stocks, bonds and contracts can now be created, mutually agreed upon, and transferred without the necessity of a third-party to authenticate the transaction; the Syscoin network itself acts as the third party, guaranteeing cryptographically-verifiable authenticity. Syscoin provides a foundation for the creation of provably fair arbitration systems which cannot be corrupted.
- Certificates on the Blockchain (demo
video). Using the cryptography of the Blockchain; Issue, authorize, and exchange digital certificates. With Syscoin, anyone can register as a certificate issuer and issue provably-unique certificates which can be authenticated by anyone using Syscoin's cryptographic proof of work. This allows for the creation and free exchange of a any kind of digital asset such as stocks, bonds, ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses.
- Miners Matter! By being universally merge-mineable with all Scrypt coins, Syscoin is prepared for the coming Scrypt ASIC boom. By simultaneously distributing coins to anyone mining any other Scrypt coin, it ensures that both democratic coin distribution and strong network health are achieved shortly after Syscoin's genesis.
Proof-of-work algorithm: SCRYPT (merge mineable with any SCRYPT coin)
Multipool protection: SysCoin uses KGW to retarget difficulty every block. SysCoin uses extremely small minimum and maximum values as algorithmic inputs, which effectively allows Syscoin's difficulty to re-target much more rapidly and accurately than other cryptocurrencies that use KGW.
Block reward (updated): 128 SysCoin and regenerated network services fees (block reward decays on fixed schedule until rewards fixate at 32 Syscoin until 2bil coin, after which rewards are purely network and service fees).
Total SysCoins: 2,000,000,000 (2.0 billion)
Premine: 18% [15% Presale, 2% Devs (wallets will be publicized for transparency; Prove are holding.), 1% Bounties and Rewards]
Launch date: August 16, 2014 @ 12pm PSTSyscoin - A Scrypt-based, Merge-mineable coin with Certificate Issuance, Distributed Marketplace, Document Exchange, and Data Storage ServicesSpecifications:Service Fees:Fees are an important part of the Syscoin network since they enable the existence of Syscoin and all of it's innovative services.
Syscoin directly recycles transaction fees by regenerating them and redistributing them to network miners. The regeneration of service fees is the key incentive for miners to continue to mine Syscoin once all base coins are mined, and thus enable and guarantee its services into the future.Reward Schedule: Mining Reward Schedule (Updated 7/23) Development Team and Status:
Syscoin's team is not new to the industry, they bring the experience of an award-winning team to drive this incredibly innovative project. The team wanted to be able to release ground-breaking technology without limiting itself to any one specific innovation. Hence, the name Syscoin was coined- it allows for the building of multiple value-added and innovative services without being constrained to a single innovation.All Syscoin features described here have been implemented and the Syscoin wallet is currently in beta testing. - Syscoin Presale will be Secured Through Moolah.io's Escrow Platform (Cryptoarticles Business, July 14th, 2014)
- Syscoin - Building in the Blockchain (Coins Source, July 8th, 2014)
- Business on the Blockchain- Syscoin Pre-sale Starts Soon! (Cryptoarticles Business, July 8th, 2014)
- Syscoin - Not just a cryptocurrency but an All-In-One Financial System (247 CryptoNews, June 5th, 2014)
- Blockstok - A Bitcoin festival (Bitcoin UK Media, 16:43, July 2nd, 2014)
Whitepapers:How Syscoin Works: Syscoin Preann Frequently Asked Questions (FAQ):Q: Where is the whitepaper?A:
Syscoin Overview Whitepaper (Draft)Q:Isn't this the same thing as NXT?A: No, NXT is an attempt at a Bitcoin rewrite from scratch and is NOT hosted on github for community contribution. Syscoin is on github and is a fork of the Bitcoin codebase.
Q:Isn't this the same thing as BitHalo?A: Feature-wise there are parallels (smart contracts) but Syscoin takes its feature set further from what we know of BitHalo. Reading what's available about BitHalo it is a an abstraction on top of a blockchain, rather than being directly integrated. We need to do more research on this as its very new and the source code isn't available yet (that I know of) so we're operating largely off press-release/marketing information when it comes to technical comparisons to BitHalo.
Q: When is presale starting?A: It's already begun! The Syscoin presale started July 19th @ 12pm PST/USA.
Q: When is the launch date?A: Syscoin's core feature set is already completed, it will on August 16th at 12:00pm PST
Q: How much will Syscoin be available for presale?A: 300,000,000 Syscoin (15%)
Q: How will the presale proceeds be spent?A: It will be used to further adoption of Syscoin within the altcoin space, to build relations with other partners in the crypto/altcoin space, marketing and to cover past and future development and hosting costs for Syscoin related sites and services.
Q: Can I see a video of the coin in action?A: Yes. We're working on delivering this prior to the presale. We'll also try to release a beta prior to the coin
launching.
Q: Can you allow us to test the coin on a test-net?A: This is entirely possible but due to the logistical overhead of distributing a testnet-only client and then managing the feedback that comes from the release, we will not be pursuing this option. Instead we'll explore possibly doing a beta release before the coin launches to test the network at a larger scale.
Q: How many people on the team? Who are you?A: We have six people on the Syscoin team. We're an experienced team that has received rewards in the past for our work on other coins within the crypto community. We've taken that experience and decided to channel it into something real and innovative rather than another clone coin.
Q: Where's the infographics?A: We have a graphic outlining the features in a psuedo-technical form
here,
we're working on a more robust infographic which we'll release soon.
Q: Isn't SCRYPT dead? Why another SCRYPT coin?A: Scrypt is alive and well! The large driver for non-scrypt algorithms (x11, x13, x15, x
[n]) is to try and combat ASICs since these hit the market just a few months ago. Because Syscoin uses block-by-block retargeting and can be merge-mined the proliferation of Scrypt ASICs are a good thing for Syscoin. This means that Scrypt mining is here to stay and the network will be healthy for a very long time.
Q: Will you have an escrow service for presale? A:Yes, one of the most trusted tiers in the Altcoin community, Moolah.io, has begun taking orders for the presale.
Q: Can I send any file on the blockchain using Syscoin?A: Yep. Each entry is currently limited to 0.5mb so you'd need to spread out larger files across several entries (like a multipart zip file) and of course fees will apply the more data you store, the more it will cost (unlike Namecoin these fees go to miners instead of being burned).
Q: Could a 51% attack result in a certificate / asset double-spend?A: Technically, yes. We are looking at Slingshield to try and mitigate the possibility of this type of attack although it will not be implemented at launch, and we may improve upon it if we see the potential for enhancement. Merged-mining with any other Scrypt coin, however, ensures that the hash-rate will be widely spread-out between many pools so we doubt that this will be a problem, in the long-run at least.
Q: How far is development?A: Development on the core feature set is complete and we're debugging. We are testing to make sure all attack vectors are secured and retargeting is solid even with wild swings in network hashing power.
Q: Isn't the presale a little large?A: We have spent significant time and effort developing Syscoin. There will be significant time poured into Syscoin moving forward as the community realizes the potential Syscoin brings to the table. Because of these factors, the partnerships we're building in the crypto community, and the innovation Syscoin brings to the table we feel the presale if
very fair.
Q: Wont this turn into a silk road?A: We are only offering the technology to facilitate distributed marketplaces. We aren't responsible for how it is leveraged.
Q: Why doesn't it show the coin dev on the website?A: Our core crypto developer is very active but also holds a high level position within a private company outside of the crypto space that doesn't understand the crypto space. Because there is a concern of misperceptions by the employer regarding work-focus being in such a executive position, public references to our coin developer's personal information have been omitted until this is no longer a concern.
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FAQ Last updated: 7/19/2014
8/5/2014:Important Announcement about initial Syscoin Service Fees
In order to be as transparent as possible and to make clear this decision is a strategic one; we want to clarify some information about the “service fees” tied to Syscoin services. There is nothing like Syscoin currently on the market. Its closest competitors dramatically under-price their service offerings (speaking specifically about Namecoin). Due to the fact there are no analogous services in the “real world” by which to attempt to price Syscoin services. As such we will be following an initial pricing strategy that attempts some level of “price discovery”.
What this means is that we don’t know how much posting an offer, reserving an alias, or storing data should cost. We do know that fees need to be high enough to add value / discourage abuse while not being prohibitively expensive. Because of this the initial service fee schedule for Syscoin services will be temporary. The prices for services will be on the high side to start and then decay on a fixed schedule until a predetermined block height at which we’ll release a new wallet that implements a more effective fee schedule based on the market activity we observe during the initial price discovery schedule period.
Properly pricing these services is difficult as the price of Syscoin will certainly fluctuate and we don’t want to undervalue or overvalue these services. We’re pricing services based on the pre-sale regular phase price (0.00000518) which is arguably low meaning this may overprice services if it's value increases, something we’ll just have to observe and another reason for the decay schedule. We’re planning on pricing the Syscoin services fees very competitively relative to the cost of the closest comparable service in the real world such as domain name for aliases, ecommerce/ebay for the marketplace features, dropbox/googledrive/others for data storage etc.- keeping in mind that Syscoin services are distributed and cryptographically provable which the services being compared to do not provide.
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