Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 853. (Read 1191989 times)

The BTCD swap price will only be adjusted by the -5% per year to compensate for staking relative to the initial conversion price. One possibility would have been to stake for 11 months 29 days and collect 5% more, but if everybody did that there wouldnt be enough komodo

So there is no benefit to holding beyond the conversion period due to the 5%, it is neutral though, so no cost either.

This 1 year conversion option allows each BTCD holder to decide when to convert.

Currently it is the average price of btcd during Aug + 50% premium (0.005325 off the top of my head) and that will put into the ico. Then it will be split based on amount raised.

Which price will be used for the BTCD swap after the ICO? The price of the market on exchanges or the average price of the ICO(collected BTC/total KMD quantity)?

hint?

I am saying that iguana is functioning at the command line level for a while now with most of the bitcoin rpc http://docs.supernet.org working, and about a dozen coins can be parallel synced. Though if you are syncing 5 coins at once there seems to be some issue. So if an iguana can sync 1 coin in parallel, but not 5, is it "completed"?

Also, we are right now testing a pure HTML/JS GUI and it is open for anybody to see it in action. There is no need to trust me on this. Both the iguana core and GUI are open source and can be built and run.

For making it noob friendly, we are working on installers, though for the type of tech we are making I hope people are not basing their decision on the presence or absence of an installer?

Also, please keep in mind that until zcash runs on windows, it is unlikely komodo will. However, we do have iguana working on some variants of windows, but it still has some issues for other versions. Since Win10 is able to run unix natively, this should be less and less of an issue, especially if the zcashd can run in the unix mode of Win10

If a project doesnt work with all versions of windows, but works on unix, osx and some versions of windows, is it "completed"?

We are working on making a end user testing version for iguana to be made available before the ICO starts. Given a wide coverage and bug reports, we can iterate that to make it more and more solid. All of the millions of projects that I supposedly started are in my 100,000 line codebase, ie. its one single project with a lot of functionality.

If a single project has many use cases, is it dozens of different projects? I think maybe the confusion is that I am making something that is similar to an OS. But what is an operating system without any applications? How to even know if the OS is working without any applications? So to make an OS, you need to make a few reference applications. And if an idea for a new application happens, does that fit within the framework of the OS, or does it somehow fragment the OS?

My assessment is that crypto needs a common framework for efficient development, if not all of crypto, at least I do. If a solution is being created to be able to build many different solutions, then many different solutions needs to be created on that system to make sure it can handle it. Otherwise you end up with limited scope speciality solutions that dont handle one or more types of problems that need to be handled.

I have a platform level solution that allows efficient solving of all the crypto's bottlenecks toward mainstream adoption. THAT is what I have been working on all this time. And dPoW is a vital part for this as it enables securing otherwise weak chains that wouldnt be secure enough to store any significant value.

Combined with iguana that speaks bitcoin protocol and can interface to many coins at once and atomic cross chain exchanges, a network of bitcoin secured chains that can atomic swap with any other is created. In order to reduce the friction of these cross chain swaps, funded Liquidity Provider nodes are needed. The advantage is that instead of having to wait for a day (or more) for side chains, the swaps can be done within a few coin confirmations (even less for low value swaps)

Maybe someone with graphic skills that can understand the overall architecture can present this information in a graphic? I do not have these graphics skills.

factom's factoids allow anybody to store data in BTC chain via using a data layer, which is a nice thing to plug into existing corporate infrastructure.

however it is not decentralized so you have the problem of whose data do the other nodes rely on. The elected notary nodes solves this issue and as a group they are writing data to the BTC blockchain.

So in a way it is similar, komodo is using a consensus based notary group writing to the BTC blockchain directly. I have no need of a data layer to write to the BTC chain.

Close.

The BTCD swap process is different, so we want to deploy a modified ICO site that handles redeems to a different address. This allows privacy oriented people to just combine all their outputs to one of their addresses and then redeem from that address to receive komodo at the corresponding address.

In order to support withdrawing from an exchange address and get credit at any specified address, you are correct, we would need to make a login site to handle this. This might not be available immediately after the ICO, but it has most usefulness after exchange trading has started as then you can register your exchange deposit address, get a redeem address and withdraw from exchange to the redeem address and get back komodo in the exchange. All without any local wallet or blockchain.

Since there is a one year redemption period, there isnt the extreme time urgency for this, so it will likely be done as we can get it done without impacting the time critical things. This means if you want to swap in the fastest way, please use your local BTCD address.

staking uses up all the coinage, so all active stakers wont have any long coinage.
however, this is a good idea. It would be possible to trace back to how long the funds have been in an address.

Unfortunately I dont have time to work on such analysis, so if people continue to expect me to do everything including this, then it will cause delays. If there is just an analysis, we can consider allocating a long term holder's bonus in the event the ICO sells out.

However, until there is such an analysis made, it is a moot point and without the analysis we cant even evaluate the amount of funds that would be required. The biggest time will be how to allocate rewards based on this long term holding. Clearly I am not the one to determine this.

So, if BTCD people want something like this there needs to be an analysis done, and a proposed way to allocate X amount of bonus. Then and only then can I assess it with the understanding that it has to fit into the ICO process, which means to be triggered at the high end of funds raised.

yes

With the 1 year conversion right, which in and of itself has value, the appropriate price for BTCD would be the black and scholes options valuation of a 1 year call option with a strike price of 0.

It becomes like a warrant or a deep in the money long term call option.

Since BTCD can be converted to komodo, the komodo price will determine the BTCD price, but not the other way around as nobody is forced to sell their komodo at the BTCD price (put option).

It is a financial diode, only flows in one direction

throughout the thread it was hinted at that there would be a working something before the start of ICO. don't know what post though - it was the original poster who said it somewhere.

that would be ideal - the project would probably get a lot more funds raised if something noob friendly was usable before ICO.

Hi guys i got a question. Will komodo use the btc blockchain similar to factom?

Thank you for the FAQ. To confirm: BTCD submitted for swap will be credited as Komodo IN THE ICO USER ACCOUNT area, for withdrawal as normal afterwards?
If this is the case, BTCD holders will need to open an account before the ICO is over, or else ICO account creation will need to continue after funds are no longer being collected.
Just useful to clarify these points, thanks.

Hopefully some will dump their coins It's cheaper to get them at this rate than even buying from ICO the first day.

I think you can look at the age of the input. Anything in an address older than the swap announce gets the higher rate. The believers.

It's certainly possible to do this. Not that anyone is really owed anything. Investing in crypto coin is a 100% at risk endeavor.

I'm fully agree with bitkokos2 and similiar opinions.
There is no FUD that's opinions and true.
Yes you can pretent that nothing happen it's just fud from group of fools and idiot's (...and you do it)

For people fallowing/reading  BTCD thread since months things are just too obvious and any statement from KOMODO "team" will not change that.

If komodo is BTCD, then why an ICO? Shouldn't BTCD be swapped for komodo sort of the way NXT is being swapped for Ardor? If people want Komodo then they buy BTCD.

I have read the whole fucking thread and i'm still confused what's going on. First, i like James. I have had personal contact with him and i did some stuff for the Supernet network and he seems to be an honest guy full of ideas and devoted to build something.

But i don't know about this. The idea is perfect, but i can fully understand that there are people who are shouting that he didn't finished one of his projects. Maybe he did, i don't know really. I have a lot of BTCD's and maybe i'm gonna dump them or maybe i'm gonna switch them....i don't know. Personally i would like to see something real....and that was not an attack to James, but to all devs out there. ICO this, ICO that, pump here, dump there. ETH completely failing after a promising start (don't get me wrong, i did not invest in it).

The whole crypto currency world is too shady now a days. Hopefully James or any other dev can show us some real thing like Satoshi did in 2009.

Hey,

The Steemit post should clear everything for everyone regarding the ICO.

Whoever would sell BTCD under those rates would be giving away money. Hopefully no one will do that.

If you have any further questions let us know!

Don't know what to say pondsea, you seem mostly ridiculous to me.

FUD is missinformation.

Your posts suit that purpose better then mine.

I'm just sharing my opinion + repost if someone describes sth better then me.

Readers will judge.

reserved

great dev