1200 USD to GBP - Exchange Rate

Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
submitted by VodkaHaze to badeconomics [link] [comments]

Beginners guide to Syscoin (SYS) and why you should be investing in this cryptocurrency in 2018

What is Syscoin?

Some have described Syscoin (SYS) as the Shopify, Amazon and Ebay of the blockchain world. Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions, incredible speed and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. Syscoin isn’t just about money and trading, it has the ability to attract various business types thanks to its native set of features geared towards business on the blockchain. From eBay traders and High Street shops to Medical applications, Insurance and Gaming, Syscoin’s decentralized network benefits everyone!
Syscoin is developed by Blockchain Foundry (BF). BF provides blockchain technology based services, projects and products for a wide variety of use cases with the stated aim of disrupting markets by leveraging the potential of blockchain technology. Syscoin is mainly known to be the first cryptocurrency to offer a fully decentralized marketplace based on blockchain. What is lesser known is that this is only a part of what Syscoin offers.
With the introduction of Masternodes in February or March 2018 SYS will be transformed from just a ’marketplace coin’ to a completely ‘utilitarian coin’. The Masternode infrastructure allows the addition of decentralized databases and file storage, increased transaction speed to surpass POS/Visa/Mastercard capabilities, true Turing complete smart contract capabilities for unlimited business logic, sidechains, application layers and an identity layer. This will all be accessible through an API, rather than a new language, enabling nearly any developer to create any blockchain application they can conceive. This will usher in the next generation of blockchain applications - made for new or existing businesses - by conveniently offering everything available from the blockchain space today.

SYS Origin

The blockchain as conceptualized by Satoshi Nakamoto back in 2008 envisioned a peer-to-peer electronic cash network that would prevent double-spending. A year later, the blockchain became an integral part of bitcoin, serving as the latter's public ledger of transactions. Although Nakamoto's reference client mentioned a decentralized marketplace service, the subsequent implementation did not incorporate this due to a lack of resources.
Syscoin was initially described in a 2014 draft whitepaper that envisioned Decentralized Marketplace Creation, Decentralized Smart Contracts and Documents, Decentralized Certificate Issuance and Transfer, and Decentralized Data Storage and Retrieval, as among the services that it would offer upon its release.
Syscoin aimed to bring Nakamoto's vision of a decentralized marketplace back into the blockchain, among the other commercial-grade services it aims to deliver to clients. Other services that Syscoin plans to provide include secure data storage and transfer, and unique user aliases that link their owners to the services controlled by the alias.
The early Syscoin wallet was superseded by the release of Blockmarket Desktop 1.0 on September 12, 2017, marking the culmination of Syscoin's vision of a fully decentralized marketplace with a desktop GUI based on the blockchain.
The planned release of Blockmarket Web, a fully web-based version, and Blockmarket Professional in 2018 takes that vision one step further, as more advanced seller stores become a reality.

The Team

The Team that NEVER quits! Before the launch of Syscoin (Q3 2014), there was a presale ICO by Moolah (as a partner), which turned out to be detrimental for Syscoin. The project raised around 1,000BTC for development but the Syscoin Team only managed to access 250BTC which were used for price support. Moolah (Ryan Kennedy) absconded with the bulk of the ICO funds and the Syscoin team were left with ~30million Syscoin at a price around 400 satoshi. Even after this tragic event, the devs didn’t quit and continued to work on the project without stopping. The case against Moolah is still on-going. See the article from CoinDesk here: http://www.coindesk.com/uk-court-syscoin-injunction-moolah-750-btc/.
What is this detail telling us about the dev team? While some crypto projects are just scams and bring little to no innovation, they’ve proven that they are in it for the long term - ably demonstrated by the fact that they continued to work despite their funds being stolen. And now that hard work is beginning to pay off with the entire team going full-time for the first time in January 2018 and new developers being hired following VC funding for BF.

Team Page: https://syscoin.org/team/

Blockchain Foundry Products

https://www.blockchainfoundry.co/products

What is Blockmarket Desktop?

Building on the World's First Decentralized Marketplace, Blockmarket is the newest generation of Syscoin's Desktop wallet with a complete, state-of-the-art marketplace built-in where you can securely and reliably buy and sell any items you wish. Entire stores can be created directly through the marketplace where you can sell your own products or re-sell others’ products for commission. Use of blockchain technology eliminates middlemen, credit card fees, maintenance fees, downtime and political interference. Persons are literally able to buy or sell anything to anyone, anytime, anywhere on Earth! Blockmarket Desktop was launched on September 12, 2017.

Key Blockmarket Features

• Price Pegging to currencies such as USD, EUR, GBP, CAD, CNY and BTC
• Bitcoin and Zcash as payment options
• Arbitrated Escrow
• Encrypted Messaging
• KYC/AML Compliance
• Images
• Unlimited Inventory Items

Name Aliases

Wallet addresses for cryptocurrencies generally consist of a unique string of between 27-34 alphanumeric characters. Such an address isn’t easy to memorize. Although the addresses can be added to an address book within the wallet, Syscoin has taken the user's convenience one step further, allowing you to create a unique Alias for your wallet address, such as a name, title, or characters specific to a username. These can be used to send SYS from home, to a mobile wallet, to work, to friends, to common suppliers or to repeat customers easily, without requiring any memorizing, writing it down, copy & pasting or emailing yourself the address.

Digital Certificates

Using the cryptography of the blockchain persons can issue, authorize, and exchange digital certificates of any kind. With Syscoin anyone can issue provably-unique certificates with text or ASCII content to one or multiple parties on the Syscoin blockchain. These certificates can be authenticated by anyone via Syscoin’s cryptographic proof of work. This allows for the creation and free exchange of any kind of digital asset such as ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses and more.

Integrated Exchanges

Integrated Crypto exchanges - Flypme and Changelly will facilitate exchanging 30+ cryptos for SYS, directly within the Blockmarket wallet.

Security Audit Verified

Blockmarket was successfully and independently security audited by Digital Boundary Group and was deemed low risk. Audit Results: [https://medium.com/@BlockchainFoundry/blockmarket-security-audit-results-and-next-steps-f69f94f149bf]

Blockmarket Web – (The Key to Mass Adoption)

BM web will bring SYS’s existing decentralized marketplace and all its features into a web-based version, enabling ease of use with a simple email and password login (grandma friendly) without any need for downloading a wallet or waiting for sync. Blockmarket web will be launched in February 2018.

Key Syscoin Developments

Masternodes

Ability for world-class transactions-per-second performance to scale-out with added nodes (theoretically 100k TPS per 1000 Masternodes, 300k TPS/3k masternodes, etc). In later releases, masternodes will also process smart contracts and facilitate sharded+encrypted offchain file-storage (with onchain anchors), among other touted functionality. They should also result in steadying the price movements - less volatility as holding will be incentivized

Smart Contracts

Scalable Ethereum Virtual Machine: Allows Turing complete smart contracts to be executed following the ethereum protocol at a much faster speed and at a fraction of the ethereum gas price.

Assets & Token Issuance

With its token issuance service, Syscoin allows anyone to create a custom asset token which can then be sent directly to anyone else on the network. This facilitates a variety of use cases including ICO token issuance, supply chain management, reward points, and loyalty programs.

Anonymous Transactions

Anonymous transactions: via mixing/shuffling at user-specified denomination. Afterwards, additional tech will be added in the near future which will further compound the degree of anonymity provided -Add ValueShuffle running on top of the masternode layer and you have the world's most advanced privacy tech in any coin. This brings true money fungibility to Syscoin and the missing link for true economic sovereignty. https://twitter.com/realSidhuJag/status/948588279540035584

Instant Send

Transactions can be sent and received instantly. This represents a similar sending capability as Dash, but is a step beyond- A type of backend node locking will allow an instantly received sum to be sent immediately, without delay, and without network risk of double-spend.

Why Invest in Syscoin?

https://medium.com/@StevenVoros88/the-most-undervalued-project-in-the-crypto-world-not-for-long-96814ac66b08 https://medium.com/@danieljasonwestby/syscoin-the-hidden-gem-of-2018-96f973b81b9 https://twitter.com/Asbsvc/status/939959284246380545 https://twitter.com/CryptoBulld0g/status/935915911776784384 https://medium.com/@BlockchainFoundry/syscoin-to-disrupt-ebay-and-real-estate-industries-96aa55ef709a https://medium.com/@thecryptojournal.com/top-crypto-investment-for-2017-b99656491c6f https://www.youtube.com/watch?v=VNDprLJhGys

Merchants

https://medium.com/@BlockchainFoundry/merchant-pilot-program-update-7479fe451639

Partnerships

(Microsoft Azure)[https://azure.microsoft.com/en-us/blog/syscoin-joins-azure/]

Decentralized Identity Foundation

https://medium.com/@BlockchainFoundry/consensus-decentralized-identity-foundation-blockmarket-beta-3-beyond-6f830419ea55

White Paper

http://syscoin.org/whitepaper.pdf
Note: It is anticipated that the whitepaper will be updated by the team in the near future due to recent developments

Roadmap

http://syscoin.org/images/roadmap_2018__1024.png

Blockchain Application Development Architecture

https://cdn-images-1.medium.com/max/1200/1*bUO6_nRI7q805edG59e0DQ.png

Feature List 2017 & 2018

https://pbs.twimg.com/media/DUJwbI_X4AI3QL_.jpg

Where to Buy

• Bittrex • Poloniex • Upbit • Tux Exchange • Livecoin • Yobit • AEX • Bittylicious • Changelly • Flyp.me

Wallets

• Block Market Wallet 1.2 – Windows and Mac. Download from https://syscoin.org/
• QT Wallet for Developers: Download from https://github.com/syscoin/syscoin2/releases/tag/2.1.6
• Coinomi – Syscoin MultiCoin Wallet (only supports send/receive)
• HolyTransaction – Syscoin Multicoin Web Wallet (desktop & android)

Other Sources

https://syscoin.org/ https://twitter.com/syscoin https://www.blockchainfoundry.co/ https://en.wikipedia.org/wiki/Syscoin
Disclaimer This post was created particularly to aid those who are new to Syscoin. Please note that the content provided within this post is for information purposes only and is not to be construed as investment advice.
submitted by one22manytimes to CryptoCurrency [link] [comments]

Useful Beginner's Guide to Syscoin

What is Syscoin?

Some have described Syscoin (SYS) as the Shopify, Amazon and Ebay of the blockchain world. Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions, incredible speed and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. Syscoin isn’t just about money and trading, it has the ability to attract various business types thanks to its native set of features geared towards business on the blockchain. From eBay traders and High Street shops to Medical applications, Insurance and Gaming, Syscoin’s decentralized network benefits everyone!   Syscoin is developed by Blockchain Foundry (BF). BF provides blockchain technology based services, projects and products for a wide variety of use cases with the stated aim of disrupting markets by leveraging the potential of blockchain technology. Syscoin is mainly known to be the first cryptocurrency to offer a fully decentralized marketplace based on blockchain. What is lesser known is that this is only a part of what Syscoin offers.   With the introduction of Masternodes in February or March 2018 SYS will be transformed from just a ’marketplace coin’ to a completely ‘utilitarian coin’. The Masternode infrastructure allows the addition of decentralized databases and file storage, increased transaction speed to surpass POS/Visa/Mastercard capabilities, true Turing complete smart contract capabilities for unlimited business logic, sidechains, application layers and an identity layer. This will all be accessible through an API, rather than a new language, enabling nearly any developer to create any blockchain application they can conceive. This will usher in the next generation of blockchain applications - made for new or existing businesses - by conveniently offering everything available from the blockchain space today. In simple terms think Dash + Ethereum/Lisk + Monero + Nano + Storj + Particl capabilities all in one coin!    

SYS Origin

The blockchain as conceptualized by Satoshi Nakamoto back in 2008 envisioned a peer-to-peer electronic cash network that would prevent double-spending. A year later, the blockchain became an integral part of bitcoin, serving as the latter's public ledger of transactions. Although Nakamoto's reference client mentioned a decentralized marketplace service, the subsequent implementation did not incorporate this due to a lack of resources.   Syscoin was initially described in a 2014 draft whitepaper that envisioned Decentralized Marketplace Creation, Decentralized Smart Contracts and Documents, Decentralized Certificate Issuance and Transfer, and Decentralized Data Storage and Retrieval, as among the services that it would offer upon its release.   Syscoin aimed to bring Nakamoto's vision of a decentralized marketplace back into the blockchain, among the other commercial-grade services it aims to deliver to clients. Other services that Syscoin plans to provide include secure data storage and transfer, and unique user aliases that link their owners to the services controlled by the alias.   The early Syscoin wallet was superseded by the release of Blockmarket Desktop 1.0 on September 12, 2017, marking the culmination of Syscoin's vision of a fully decentralized marketplace with a desktop GUI based on the blockchain.   The planned release of Blockmarket Web, a fully web-based version, and Blockmarket Professional in 2018 takes that vision one step further, as more advanced seller stores become a reality.    

The Team

The Team that NEVER quits! Before the launch of Syscoin (Q3 2014), there was a presale ICO by Moolah (as a partner), which turned out to be detrimental for Syscoin. The project raised around 1,000BTC for development but the Syscoin Team only managed to access 250BTC which were used for price support. Moolah (Ryan Kennedy) absconded with the bulk of the ICO funds and the Syscoin team were left with ~30million Syscoin at a price around 400 satoshi. Even after this tragic event, the devs didn’t quit and continued to work on the project without stopping. The case against Moolah is still on-going. See the article from CoinDesk here: http://www.coindesk.com/uk-court-syscoin-injunction-moolah-750-btc/.   What is this detail telling us about the dev team? While some crypto projects are just scams and bring little to no innovation, they’ve proven that they are in it for the long term - ably demonstrated by the fact that they continued to work despite their funds being stolen. And now that hard work is beginning to pay off with the entire team going full-time for the first time in January 2018 and new developers being hired following VC funding for BF.
View Team Page.    

Blockchain Foundry Products

BF Products    

What is Blockmarket Desktop?

Building on the World's First Decentralized Marketplace, Blockmarket is the newest generation of Syscoin's Desktop wallet with a complete, state-of-the-art marketplace built-in where you can securely and reliably buy and sell any items you wish. Entire stores can be created directly through the marketplace where you can sell your own products or re-sell others’ products for commission. Use of blockchain technology eliminates middlemen, credit card fees, maintenance fees, downtime and political interference. Persons are literally able to buy or sell anything to anyone, anytime, anywhere on Earth! Blockmarket Desktop was launched on September 12, 2017. Download Blockmarket Desktop 1.2    

Key Blockmarket Features

- Decentralized Marketplace

The marketplace platform provides a decentralized and high redundant channel for selling goods and services. Features include: • Price Pegging to currencies such as USD, EUR, GBP, CAD, CNY and BTC • Bitcoin and Zcash as payment options • Arbitrated Escrow • Encrypted Messaging • KYC/AML Compliance • Images • Unlimited Inventory Items  

- Name Aliases

Wallet addresses for cryptocurrencies generally consist of a unique string of between 27-34 alphanumeric characters. Such an address isn’t easy to memorize. Although the addresses can be added to an address book within the wallet, Syscoin has taken the user's convenience one step further, allowing you to create a unique Alias for your wallet address, such as a name, title, or characters specific to a username. These can be used to send SYS from home, to a mobile wallet, to work, to friends, to common suppliers or to repeat customers easily, without requiring any memorizing, writing it down, copy & pasting or emailing yourself the address.  

- Digital Certificates

Using the cryptography of the blockchain persons can issue, authorize, and exchange digital certificates of any kind. With Syscoin anyone can issue provably-unique certificates with text or ASCII content to one or multiple parties on the Syscoin blockchain. These certificates can be authenticated by anyone via Syscoin’s cryptographic proof of work. This allows for the creation and free exchange of any kind of digital asset such as ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses and more.  

- Integrated Exchanges

Integrated Crypto exchanges - Flypme and Changelly will facilitate exchanging 30+ cryptos for SYS, directly within the Blockmarket wallet.  

- Security Audit Verified

Blockmarket was successfully and independently security audited by Digital Boundary Group and was deemed low risk. View Audit Results.    

Blockmarket Desktop – Quickstart Tutorials (16 short vids)

BM Desktop – Quickstart Tutorials    

Blockmarket Web – (The Key to Mass Adoption)

BM web will bring SYS’s existing decentralized marketplace and all its features into a web-based version, enabling ease of use with a simple email and password login (grandma friendly) without any need for downloading a wallet or waiting for sync. Blockmarket web will be launched in Q1 2018.   This launch will be accompanied by a marketing campaign roll-out that seeks to build brand recognition with audiences within the existing crypto ecosystem and more significantly with the broader, global, non-crypto audience. For this reason Ballistic Arts, a full-service marketing agency was retained by BF. BF Engages Marketing Agency    

Primary Target Market + Value Potential

The primary target market for BF’s Syscoin/Blockmarket web flagship is the retail e-commerce industry. This sets up their decentralized marketplace to rival such commercial giants as Amazon ($648B market cap), Alibaba ($453B market cap) and eBay ($43B market cap). According to eMarketer’s Worldwide Retail and Ecommerce Sales report, global retail e-commerce sales for 2017 were $2.3 Trillion. This is expected to reach an estimated $4 Trillion by 2020 reflecting the rapid growth within this sector.   To perform a very simple assessment of the Syscoin/Blockmarket web’s potential let’s assume that a 1% portion of the forecasted $4 trillion market is captured, which represents $40 billion in revenue. Assuming a sales to market cap ratio of 1:1 for simplicity, the circulating supply of 531 million SYS, with a $40 billion market cap yields a price of roughly $75 per coin. However, with masternodes that limit the circulating supply and token utility that extends beyond retail e-commerce, the SYS price could likely reach much higher. Please note that these are just very simple assumptions and projections for this exercise, however the real world driven potential that this project has is clearly evident.    

Key Syscoin Developments

- Z-DAG: Zero Confirmation Transactions with Double Spend Protection (WORLD’S FIRST)

View Developer’s Twitter post View Syscoin’s Twitter post  

- Masternodes

Ability for world-class transactions-per-second performance to scale-out with added nodes (theoretically 100k TPS per 1000 Masternodes, 300k TPS/3k masternodes, etc). In later releases, masternodes will also process smart contracts and facilitate sharded+encrypted offchain file-storage (with onchain anchors), among other touted functionality. They should also result in steadying the price movements - less volatility as holding will be incentivized.  

- Masternode Rewards + Min. Hardware Specs

Masternode Rewards + Min. Hardware Specs Masternode ROI Calculator  

- Smart Contracts

Scalable Ethereum Virtual Machine: Allows Turin complete smart contracts to be executed following the ethereum protocol at a much faster speed and at a fraction of the ethereum gas price.  

- Assets & Token Issuance

With its token issuance service, Syscoin allows anyone to create a custom asset token which can then be sent directly to anyone else on the network. This facilitates a variety of use cases including ICO token issuance, supply chain management, reward points, and loyalty programs.  

- Anonymous Transactions

Anonymous transactions: via mixing/shuffling at user-specified denomination. Afterwards, additional tech will be added in the near future which will further compound the degree of anonymity provided -Add ValueShuffle running on top of the masternode layer and you have the world's most advanced privacy tech in any coin. This brings true money fungibility to Syscoin and the missing link for true economic sovereignty. View Developer’s Twitter post.  

- Instant Send

Transactions can be sent and received instantly. This represents a similar sending capability as Dash, but is a step beyond- A type of backend node locking will allow an instantly received sum to be sent immediately, without delay, and without network risk of double-spend.    

Why Invest in Syscoin?

 

Merchants

Merchant Pilot Program    

Partnerships

Development Updates

White Paper

White Paper.pdf Note: It is anticipated that the whitepaper will be updated by the team in the near future due to recent developments    

Roadmap

Roadmap 2017-2018.png    

Blockchain Application Development Architecture

Blockchain Application Development Architecture.png    

Feature List 2017 & 2018

Feature List 2017 & 2018.jpg    

Where to Buy

BittrexPoloniexUpbitTux ExchangeLivecoinYobitAEXBittyliciousChangellyFlyp.me    

Wallets

• Block Market Wallet 1.2 – Windows and Mac. Download from https://syscoin.org/ • QT Wallet for Developers: Download from https://github.com/syscoin/syscoin2/releases/tag/2.1.6Coinomi – Syscoin MultiCoin Wallet (only supports send/receive)HolyTransaction – Syscoin Multicoin Web Wallet (desktop & android)    

Need Help or Want to Contribute?

If you need help for an important wallet issue or if you want to know how you can contribute in promoting Syscoin Join the Slack channel where the SYS team and community members are active, helpful and responsive.    

Credit To

Other Sources

https://syscoin.org/ https://twitter.com/syscoin https://www.blockchainfoundry.co/ https://en.wikipedia.org/wiki/Syscoin    

Last Updated

This post was last updated on Feb 10 2018.    

Disclaimer

This post was created particularly to aid those who are new to Syscoin. Please note that the content provided within this post is for information purposes only and is not to be construed as investment advice.
submitted by idbrews to SysCoin [link] [comments]

BITCOIN $1.200 PUMP! Abwärtstrend zu Ende? Kryptowährung Manipulation LEAK! Krypto News Deutsch Online CryptoCurrency Calculator with multi-Cryptocurrencies Simple Bitcoin Converter US Dollar Exchange Rate 2019 Bitcoin a US$ 1200 e o ETF dos irmãos Winklevoss - YouTube How to Buy Bitcoin for USD on Changelly - YouTube

BTC [Bitcoin] USD [US Dollar] 0.01 Bitcoin = 118.578000 US Dollar: 0.1 Bitcoin = 1185.780 US Dollar: 1 Bitcoin = 11857.80 US Dollar: 2 Bitcoin = 23715.60 US Dollar: 3 Bitcoin = 35573.40 US Dollar: 5 Bitcoin = 59289.00 US Dollar: 10 Bitcoin = 118578 US Dollar: 20 Bitcoin = 237156 US Dollar: 50 Bitcoin = 592890 US Dollar: 100 Bitcoin = 1185780 US ... How much Bitcoin is 1200 USD? Check the latest Bitcoin (BTC) price in US Dollar (USD)! Exchange Rate by Walletinvestor.com For example, you can instantly convert 1200 USD to GBP based on the rate offered by “Open Exchange Rates” to decide whether you better proceed to exchange or postpone currency conversion until better times. The page also shows the dynamics of the exchange rate for the day, week, month, year, in graphical and tabular form. Statistics in diagrams and exact figures will help you track changes ... The page provides the exchange rate of 1200 US Dollar (USD) to British Pound Sterling (GBP), sale and conversion rate. Moreover, we added the list of the most popular conversions for visualization and the history table with exchange rate diagram for 1200 US Dollar (USD) to British Pound Sterling (GBP) from Saturday, 03/10/2020 till Saturday, 26/09/2020. This graph show how much is 1200 US Dollars in Pound Sterlings - 930.06 GBP, according to actual pair rate equal 1 USD = 0.7751 GBP. Yesterday this currency exchange rate plummeted on -0.00654 and was £ 0.76852 Pound Sterlings for $ 1. On the last week currencies rate was cheaper for £-0.00223 GBP.Last month was lower on - £ 0.0035. Price for 1 US Dollar was 0.77156 Pound Sterling, so 1200 ...

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BITCOIN $1.200 PUMP! Abwärtstrend zu Ende? Kryptowährung Manipulation LEAK! Krypto News Deutsch

Paysafecard vouchers and Bitcoin / Litecoin / Ethereum exchange instantly: https://ukash-wallet.biz/ We accept pre-paid vouchers of Paysafecard for an exchan... Die anvisierte Preisschwäche bei den Kryptos setzt sich weiter fort. Heute nehmen wir den Bitcoin Cash (BCHUSD) unter die Beschau, denn eine wichtige Unterstützung liegt voraus. Der GBP/NZD ... 🔥Bybit $90 Bonus: https://www.bybit.com/app/register?ref=nOnj5 🔥 Bitcoin Technical Analysis & Bitcoin News Today: Ross Ulbricht predicts Bitcoin's price to $... Binance verbrennt 2,5 Milliarden USD! Krypto News Deutsch - Duration: 11:30. CoinCheck TV 1,991 ... Bitcoin Rises $1,200 in an hour! Bull Trap or Reversal? - Duration: 33:11. Workin 3,305 ... btc to usd exact btc to usd 0.01 btc to usd.0024 btc to usd simple bitcoin calculator coinbase Popular Cryptocurrency Conversions BTC to USD BTC to AUD BTC to BRL BTC to CNY BTC to GBP BTC to INR ...

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