Syscoin — Crypto Currency (Repost Of My Old Post)

Syscoin (SYS)
$0.787283 USD (0.00005886 BTC)
Circulating Supply of 529,958,508 SYS

Purely from the current price and supply, i would say this coin could be easily worth $5. But that is without looking at anything else.

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What is Syscoin?

Well, simply put syscoin aims to provide a platform similar to eBay or Amazon. They call it the “BLOCKMARKET”.. Sounds like “black market” right?

Anybody can use this marketplace to buy and sell items. A company can sell inventory directly to consumers here or you can sell your old video games or what not. The market place allows you to create an alias that you identify as and then you can buy and sell things under this alias. You also have the ability to send encrypted messages to other buyers and sellers.

Sounds like this could be an extension to the black market right? Well that’s not the point. This coin is geared to connecting buyers and sellers directly to become like eBay.

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Syscoin Wallet

While your syscoin address may be long and not easily memorized, you can assign names to these addresses. This allows you to easily memorize the name of the address and also distinguish your adresses. The wallet itself also lets you connect to sellers and view “private items” that aren’t visible from outside of the wallet. You can also view prices of items in various forms of currency whether its USD, BTC, SYS or a couple other coins.

The Blockmarket and your Syscoin wallet appear to be very user friendly and pleasant to look at which is a good sign for drawing in new users and driving the price up.

Syscoin is also mineable using the same process and equipment as you use to mine BTC. This is good because miners dont need to buy new equipment or anything to get SYS. They just have to start mining, which can be done quickly allowing for quick growth of the coin once people start switching over.

Who Created Syscoin?

A company called Blockchain Foundry created Syscoin and the marketplace is uses. They are a Blockchain technology development company that creates solutions for consumers and merchants using blockchain. Syscoin has been in the works since 2014.

Dan Wasyluk runs this company and has many years of experience in bringing complex programs to the mainstream so they are easy to use by anybody.

My Take

Syscoin has a great idea behind it. I do believ this could become a blochain Amazon in the future as Blockchain technology grows and becomes even more mainstream. Despite the price seeing a huge bump up recently (like all alts) the price is relatively stable hovering around the same price, going up slowly over time. This is definitely not a coin i want to be trading, but one i would hold.

If one big company or anything decides to partner with Syscoin and sell on its platform, this would be huge for the coin and more would follow. To me, this is a strictly long term investment coin that i would hold. I also believe that this platform could experience some issues with what is being sold and sent through the market place. But only time will tell what happens.

However, this not investment advice and you should do your own research and come o your own conclusions about the coin. And remember, never invest more than you are willing to lose :)
(I also did not create any of these photos or own them)