What is Syscoin SYS-BTC

Syscoin.

here is my take on Syscoin a layman's explanation.

What is it:

Is a decentralised marketplace, you have the ability to buy sell and even resell items from the platform.

You’re are able to send and receive funds easily from the platform,

Syscoin uses an “arbitrated escrow which gives buyers and sellers confidence that their funds are secure thoughout the whole transaction. Therefore there is an agreed upon third party involved

You’re would no longer require a complicated wallet address because Syscoin allows you to use an Alias instead.
It uses the Microsoft azure network in the near future
Scaling is not an issue as it has already consented to using SEGWIT (segregated witness)
Syscoin from its website describes itself as “like Ebay or Amazon, only better.”

Please refer to : http://syscoin.org/

How are the charts:

From the DAILY CHART you can see that as of late May and the beginning of June, Syscoin has jumped massively in value and has broken the ascending channel upper level of resistance.

• Currently price action sits just above the .782 Fib level and is well above the20 period Exponential Moving Average (EMA) ( light blue line)

• Price has not found direction and would indicate profit taking from the massive run up

• Expect to see the price continue lower to find support with the 20 period EMA which could correlate with the .618 fib level a significant level of support

as of today the chart looks like this

How does it compare:

Syscoin is ranked 43 on coinmarketcap.com it has a market capitalisation of $116,772,812 US and there are 525,679,252 SYS tokens in circulation currently. Syscoin has grown over 1,500% since jan ’16 currently trading at .22 US

By comparison the Share price for Ebay is currently $35.00 US. Syscoin is not even 1% of that at this stage. Yet is has many differentiating factors.

Final thoughts:
There has been a dramatic move up from sys coin since its beginning and in this current market space differentiation is going to be a key factor in terms of gaining market share. Syscoin is the first of its type of crypto in terms of what is offering and its potential usability and purpose as a decentralised marketplace to sell goods. However I worry that it may not be able to compete with the already well established existing online marketplaces ie amazon and ebay. With that being said it still is the first of its kind.

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