Its not but who cares? The discussions here or in BTCD-Thread dont lead to anything. The script for that film is written. We can only decide whether we watch it or not.
Btw. It makes a BIG difference for someone who wanna invest if there is 90% of 100Mio for ICO or 50%-70%. And i assume that you and James know that.
Sorry for raging but iam deeply disappointed.
Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 851. (Read 1192381 times)
September 07, 2016, 10:39:13 AM
September 07, 2016, 10:15:30 AM
Howcome it's wrong?
Because of[...]
The swapping process will take place after the ICO
[...]
And in the graphic it shows 90% for ICO.The swapping process will take place after the ICO
[...]
Maybe i missunderstand it.. dont know.
Ok, maybe the role of BTCD is little unclear when looking at that graphic.
It's just a simple graphic to demonstrate the basic characteristics of the ICO.Anyway, I hope everything is clear now.
September 07, 2016, 10:14:40 AM
I think it's worth noting here that many coins go 3x on ICO market cap after launch. There are no guarantees of this, of course, and many factors involved. Ethereum and Waves were/are slow burners, others have gone 10x, but seen far more volatility.
Point is that BTCD investors get a 50% bonus, and then get to enjoy any price rise on ICO that comes from launch. If your concerns are solely financial, this seems like a pretty good deal to me.
Good points. We certainly dont want to get into making any specific market predictions, but I think it makes sense to do a few hypothetical "dilution" scenarios.Point is that BTCD investors get a 50% bonus, and then get to enjoy any price rise on ICO that comes from launch. If your concerns are solely financial, this seems like a pretty good deal to me.
For example at the max raised, over any other scenario, the BTCD holders arguably are "diluted" the most. Of course if the .0053 price is considered a fair price, there is absolutely no dilution, but there seems to be a sense that some massive price boost would have happened absent the conversion price.
Why?
Probably the general price increases of many other privacy oriented cryptos, you know what I am talking about. OK, so which komodo has a better chance to achieve 50% marketcap of the highest marketcap privacy crypto? The komodo which raised the max or half the max?
It is worth to note that if 50% of the highest marketcap can be reached, then it is indeed more than 3x gain from the max amount.
How likely is this? Well, that is a probability evaluation investors will have to make, especially if the funds raised starts growing toward the max amount.
What chance does komodo which uses the zcash zkp tech secured by bitcoin of achieving half the market cap?
And investors can wait to see a working testnet, working iguana GUI, to get a better handle on the technical risk. BTCD holders further get an entire year before making the conversion decision.
We have tried to make things as fair as possible for everyone and they say a good sign of a fair deal is that everybody is complaining.
I remember you predicted that SuperNET will go 3x to 10x after the ICO ends. That never happened, not even close. You tend to be overly optimistic with your predictions. I do appreciate the optimism, but this paints the wrong picture for investors.
The fact is that the dilution is pretty much a guarantee with this ICO. The Komodo price potential is not. So you have to understand the skepticism. The risks clearly outweigh the benefits at this point in time, so no, I don't believe it is a great deal.
BTCD holders don't really have a choice but to swap in order to minimize loss, because let's face it, who wouldn't swap knowing that BTCD will be dev-less after Komodo launches. Whereas the BTC investors have a choice of if and when to buy into the ICO, with the risks decreasing as the ICO comes to the close. So there is definitely an imbalance there. The only consolation is the revshare asset, which also has no guaranteed price potential, and the possible long term holder bonus.
I'm not trying to whine or complain. I realize that in any crypto project, the risks always outweigh the possible benefits and that's just something we all have to accept. But to say that this is a good deal to BTCD holders is inaccurate and misleading.
September 07, 2016, 10:06:29 AM
So BTCD-Swap is included in the 90%? Your graphic on page1 is wrong then.
Howcome it's wrong?
We will do the BTCD/KMD swaps out of that 90M KMD. The BTCD's have a fixed rate of 0.00532 BTC/BTCD, and they will be counted as if they were invested in the ICO.
-> the BTCD/KMD and BTC/KMD exchange rates depends on how much money we rise. We only know that after the ICO ends.
I though there is a 1 year redeem time?
Yes there is!
When the ICO is over we can calculate how many KMD out of those 90M we will send to those who invested BTC, and then the rest will be left for those who swap BTCD to KMD.
The swapping will begin about two weeks after the ICO ends, and will last for one full year.
Is everything now clear?
See also: https://steemit.com/komodo/@komodoplatform/komodo-ico-questions-and-answers
September 07, 2016, 10:04:28 AM
Howcome it's wrong?
Because of[...]
The swapping process will take place after the ICO
[...]
And in the graphic it shows 90% for ICO.The swapping process will take place after the ICO
[...]
Maybe i missunderstand it.. dont know.
September 07, 2016, 10:01:17 AM
So BTCD-Swap is included in the 90%? Your graphic on page1 is wrong then.
Howcome it's wrong?
We will do the BTCD/KMD swaps out of that 90M KMD. The BTCD's have a fixed rate of 0.00532 BTC/BTCD, and they will be counted as if they were invested in the ICO.
-> the BTCD/KMD and BTC/KMD exchange rates depends on how much money we rise. We only know that after the ICO ends.
I though there is a 1 year redeem time?
September 07, 2016, 09:47:23 AM
So BTCD-Swap is included in the 90%? Your graphic on page1 is wrong then.
Howcome it's wrong?
We will do the BTCD/KMD swaps out of that 90M KMD. The BTCD's have a fixed rate of 0.00532 BTC/BTCD, and they will be counted as if they were invested in the ICO.
-> the BTCD/KMD and BTC/KMD exchange rates depends on how much money we rise. We only know that after the ICO ends.
September 07, 2016, 09:38:48 AM
So BTCD-Swap is included in the 90%? Your graphic on page1 is wrong then.
September 07, 2016, 09:37:01 AM
James I have another question.
There are going to be 100 million KMD for ICO
Let's say (in simple way) there are 1000 people who give 1 BTC each. Will they get 100,000 KMD each (100 million / 1000)
and if there are 30000 people who give 1 BTC each they get 3333 KMD each?
In other words all of those 100 million will go to those who buy?
There are going to be 100 million KMD for ICO
Let's say (in simple way) there are 1000 people who give 1 BTC each. Will they get 100,000 KMD each (100 million / 1000)
and if there are 30000 people who give 1 BTC each they get 3333 KMD each?
In other words all of those 100 million will go to those who buy?
90 % of the Komodo coins are distributed to investors (BTC+BTCD)
10 % will be reserved for development, advisers and bounties
So yes, you got the basic idea! The supply is fixed, but we don't know yet how much money Komodo raises.
Thanks!
September 07, 2016, 09:34:56 AM
James I have another question.
There are going to be 100 million KMD for ICO
Let's say (in simple way) there are 1000 people who give 1 BTC each. Will they get 100,000 KMD each (100 million / 1000)
and if there are 30000 people who give 1 BTC each they get 3333 KMD each?
In other words all of those 100 million will go to those who buy?
There are going to be 100 million KMD for ICO
Let's say (in simple way) there are 1000 people who give 1 BTC each. Will they get 100,000 KMD each (100 million / 1000)
and if there are 30000 people who give 1 BTC each they get 3333 KMD each?
In other words all of those 100 million will go to those who buy?
90 % of the Komodo coins are distributed to investors (BTC+BTCD)
10 % will be reserved for development, advisers and bounties
So yes, you got the basic idea! The supply is fixed, but we don't know yet how much money Komodo raises.
September 07, 2016, 09:13:26 AM
James I have another question.
There are going to be 100 million KMD for ICO
Let's say (in simple way) there are 1000 people who give 1 BTC each. Will they get 100,000 KMD each (100 million / 1000)
and if there are 30000 people who give 1 BTC each they get 3333 KMD each?
In other words all of those 100 million will go to those who buy?
There are going to be 100 million KMD for ICO
Let's say (in simple way) there are 1000 people who give 1 BTC each. Will they get 100,000 KMD each (100 million / 1000)
and if there are 30000 people who give 1 BTC each they get 3333 KMD each?
In other words all of those 100 million will go to those who buy?
September 07, 2016, 08:35:48 AM
What is the minimum quantity of BTC that needs to be raised to make the project viable?
It depends on what level of the project you mean. There are the mission critical parts, like paying for bitcoin fees and notary nodes.1000 would be enough for a reduced bitcoin notarization frequency and smaller number of notary nodes, but not a lot of development.
5000 would allow to have the fastest bitcoin notarization frequency, all 64 notary nodes and staff up a group of C coders and GUI devs fulltime for some years
10000 would allow having many LP nodes all fully funded for the lowest trading spreads and many liquid trading pairs
Above this would allow a warchest that can make opportunistic trades, arbitrages and other means to generate working capital and set up a very long term organization of the above. Along with some large scale marketing. Of course, even at the lower funds raised we will be doing marketing, but with a limited budget.
September 07, 2016, 08:23:23 AM
Reserved.
September 07, 2016, 08:21:48 AM
What is the minimum quantity of BTC that needs to be raised to make the project viable?
September 07, 2016, 08:20:09 AM
Hi Folks,
just tuned in. I recently procured some BTCD and now read on the forum about BTCD moving into Komodo? is that true? Will I have the possibility to buy Komodo tokens with BTCD?
Cheers!
just tuned in. I recently procured some BTCD and now read on the forum about BTCD moving into Komodo? is that true? Will I have the possibility to buy Komodo tokens with BTCD?
Cheers!
Hi there!
We just published extensive article in Steemit: https://steemit.com/komodo/@komodoplatform/komodo-ico-questions-and-answers
All the answers should be there!
Let us know if you have any further questions.
Great, will look into it & thanks!
September 07, 2016, 07:42:31 AM
Will KMD enter bittrex and/or poloniex?
We have no reason to doubt that it wouldn't, but at the end it is the decision of the exchange.
September 07, 2016, 07:37:14 AM
Will KMD enter bittrex and/or poloniex?
September 07, 2016, 07:35:55 AM
Hi Folks,
just tuned in. I recently procured some BTCD and now read on the forum about BTCD moving into Komodo? is that true? Will I have the possibility to buy Komodo tokens with BTCD?
Cheers!
just tuned in. I recently procured some BTCD and now read on the forum about BTCD moving into Komodo? is that true? Will I have the possibility to buy Komodo tokens with BTCD?
Cheers!
Hi there!
We just published extensive article in Steemit: https://steemit.com/komodo/@komodoplatform/komodo-ico-questions-and-answers
All the answers should be there!
Let us know if you have any further questions.
September 07, 2016, 07:33:34 AM
Hi Folks,
just tuned in. I recently procured some BTCD and now read on the forum about BTCD moving into Komodo? is that true? Will I have the possibility to buy Komodo tokens with BTCD?
Cheers!
just tuned in. I recently procured some BTCD and now read on the forum about BTCD moving into Komodo? is that true? Will I have the possibility to buy Komodo tokens with BTCD?
Cheers!
September 07, 2016, 07:14:44 AM
Many of those assets were dividends, however the case of cryptocard is very disappointing. Jl777 launched that fundraiser on the btcd thread, collected 10k btcd from memory when it was worth a lot more, but now he says that was coinomat project. Jl777 converted all his cryptocard assets into WAVES, then sasha mentions after the waves ico ends that coinomat business will likely be sold (who would buy coinomat?), and definitely not part of WAVES. The cryptocard asset was a fail, and jl777 raised considerable funds, and dumped his own assets, probably knowing sasha's intentions to abandon it. Please correct if that is wrong, but either way, I can understand and accept much of jl777's past record, but cryptocard is a black mark imo. Jl777 started cryptocard, raised the funds, subcontracted sasha and coinomat, then adandoned the project and bailed to waves, probably with insider knowledge, leaving bagholders still thinking an anon debit card is still being worked on. Much is forgivable with jl777, but the cryptocard affair reflects poorly on jl777 and sasha.
The cryptocard has been completed for over a year as much as it ever would and even paid out a few dividends. while it is true is has been a disappointment, everybody had the chance to convert cryptocard into WAVES. That was public knowledge and available for all.I had no insider knowledge of the status of coinomat and in fact I still hold millions of coinomat assets. My understanding is that coinomat business is being converted into a WAVES oriented one, which makes sense to me and why I continue to hold millions of coinomat assets. This is not any bailout behavior.
I think it is quite unfair that you accuse me of wrongdoing for swapping a disappointing asset using the same method available to everyone. Was I supposed to not do the swap? If so, then other people would accuse me of not doing what I should have. I believe all the amounts raised would have been recouped via the WAVES swap, at least very close to it, so a disappointment, but not a disaster.
If you didn't have insider knowledge on sasha's plan for the cryptocard, then I accept that. It was a failed project so far, and I think you have to accept it was one of yours, so when I learnt you had swapped it didn't look good to me, and the other day you said it was a 'coinomat' project, and I don't think the investors ever thought that. It looked like you were subcontracting coinomat to do the card that would then be plugged into the btcd ecosystem by you. I apologise if I offended, but for smaller investors like myself there's always the fear that 'insiders' are working things out behind the scenes to their own benefit at the expense of regular investors. If you and sasha never discussed his likely abandoning of it, then I believe you, but imo it was your project, and maybe you could argue in favor of him incorporating cryptocard into waves in some form.
I did coordinate this, so in that sense I was involved, but the banking environment changed from bad to horrible during the project and the best could be done was done. As I am not expert in fiat banking, I need to rely on others for such things
thank you for your understanding.
If you're still advocating on behalf of cryptocard asset holders that sasha not abandon it, and that he incorporate the asset into waves in some way, then I think most people will accept that. You obviously have much more ability to persuade and influence him than most other crypto people, so if you give that undertaking to argue in favor of the asset living on I am feeling much better.
I do respect you for addressing people's concerns james, thank you!
I do thank you for addressing my concerns james
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