Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 856. (Read 1191725 times)

@Pondsea - Since the Komodo team members are likely to benefit more than BTCD investors (payments from invested BTC), your opinions mean little..  Komodo team members opinions are NOT neutral and it is NOT genuine or authentic to pretend like it is..

The most neutral opinion is one of a current (as of last day of August) BTCD investor who is not part of Komodo team and NOT likely to be paid from the ~30,000 BTC collected..

We all know that Iguana/SuperNET/Bitcoindark 'had' a huge potential for a sharp rise in value on the freemarket the moment the very cool wallet application was truly ready for mainstream..  Monero and Steem had 50X rise on arguably less tech..  One komodo team member told be that 'whales' had already picked Bitcoindark for a minimum 7X gain...  Not a 25%, but a 700% gain (minimum)..  This makes sense now why you guys chose 30000 BTC for the ICO, as that's about what whales were valuing Bitcoindark at..  Except, now it won't be BitCoinDark investors who receive the gain, it will be whomever Komodo team chooses to benefit..

Iguana/SuperNET/Bitcoindark has Telepathy, Ram Chains, Pangea, InstantDEX, EasyDEX, multi-wallet, 100X faster sync, 50% compression, etc. etc. etc.  Komodo only adds a couple new features and therefore Bitcoindark/SuperNET/Iguana should be more like 80% or 90% of ICO, not 20%.

AND....  That is the opinion of a non komodo team member, who is managing the investment of BTCD for others.  I effectively have the obligation to reach out to Komodo team and ask them rethink this..

Komodo team - please.... really think this thru carefully..  What you have done is NOT ok..  It's basic common sense..  In the statutory world, people likely go to jail for less..  7X Market gain on 4Mil is 24 Mil profit..  This is NOT a lemonade stand.  You have to act with the utmost care for your investors.  Those who are signatures on the Komodo Multi-Sig BTC wallet, please be very careful and thoughtful about what you are doing, I have the deepest respect for you all and would hate to see you get into any trouble..

Promises were made and those promises need to be fulfilled with crisp, easy to delineate, lines..   Please do not co-mingle Komodo ICO with current obligations until after those promotions have been fulfilled and the freemarket has had a chance to adjust..  I have been a long time advocate of Supernet/Bitcoindark - I've been your biggest fan..  You need to fix this..

Komodo team: You guys are welcome to reach out to me on supernet slack, I'll be happy to explain to you in more detail, the various reasons I believe you need to seriously rethink this.

Hi guys
Good to see such intense debate. I'll just add that no matter where you sit in this debate that changing the name of BTCD to KOMODO is the best news since the launch of BTCD. I have always thought that BTCD was

the worst name in the brief history of crypto. In future if we could ban the use of the words "Dark & Classic' in the naming of coins, my day will be made. Please note that this comment is my personal opinion only.

Cheers Jon   

Thank you for useful questions!

Unfortunately, other than trading gains, which arent revenues, there hasnt been anything that generates positive cashflow. Now there is no way I can responsibly even think about dividending out the trading gains while we are below the original NAV. Things got pretty bad for a while, but I seem to have made up almost 2000 BTC worth this year. However past performance cannot be guaranteed to confirm and I did hit a good run of picks.

As komodo is the anchor piece that gets a stable set of notary nodes, they will not only perform notary duties, I will use them for other useful tasks in the ecosystem where a set of high availability services are needed. mostly just simple directory and "bulletin board" low bandwidth services, but still very useful for things like a list of all active coins in the networks, current active peers, DEX trading pairs, etc.

Getting the DEX fully stocked LP (liquidity provider) nodes is one of the charter's for komodo funds (after the blockchain critical things are paid for)

where it makes sense what would have been btcd fees will be komodo fees, as komodo is btcd 2.0. However, maybe there is a miscommunication, even before komodo if an iguana node is performing say LTC services for a basilisk, it would have charged LTC. Ah, ok I think I understand. For the multicurrency fees coming in to the revenue streams, they will be converted to the komodo and act like a pool that is converting the various mined currencies to the destination currency. But, the coin fees an iguana node would get from a basilisk node wont be autoconverted, that would be something that the one running the node would have to do

So grease is not the right analogy... I dont want there to be any needless barriers to adoption, so whenever possible it will be denominated in the most appropriate currency, whatever that is. The reinforcement effect will come from the required conversion into komodo

The bitcoin protocol is documented and not anything that can just be changed by one dev declaring it changed, like happened in NXT. The often contentious BTC world has the advantage that change is much slower.

Fee increases are factored in and why this ICO, but even at the lower end of funds raised, I can reduce the costs by increasing the delay. There is a parameter of "Delay Minutes", which determines how long after a new BTC block comes in that the notary transaction is submitted. The smaller this, is the more frequently we get notarized, which reduces the delay for BTC protection, but increases the cost.

So the fallback plan is to increase Delay Minutes to fit within the budgeted amount.

Now if some blackswan event makes bitcoin go insane and unusable, well, there is always other very strong chains, so I would find the most stable and secure one and use it for the notarization recording.

As far as zcash goes, it is a large open source project with a lot of very good devs. Having interacted with them during the alpha stage I dont see them making changes other than what is required for security reasons and if that is the case, komodo is well served to adopt it.

Another point to note is that iguana now works with over a dozen coins. natively, doing parallel sync with them. zcash is one of these and it is a key component for komodo, but iguana is still the platform. So the dPoW layer will be built on top of iguana API (custom extensions I will create) and the iguana will interface with the bitcoin and zcashd components.

I know from the outside it is really hard to discern these type of things, so I am glad you are asking such good questions
zcash already has a working product! Granted it is being security reviewed for flaws, but it is working. Of course for the GUI purists it is totally unfinished as it wont have a GUI for a while, but I speak of the zkp (zero knowledge proof) logic and having it mapped to the bitcoin transaction model. Quite an achievement already. Of course a delay is possible, but I dont expect there to be any prolonged delay.

Now I certainly hope zcash doesnt view komodo as a competitor. It is an open source project and we will be doing a GUI that I hope the zcash team can use. Also, ZEC is a mined coin, komodo is dPoW so I really dont see how there is much overlap between the two from a non-technical point. I estimate the market price for ZEC to be very high compared to komodo, so it will be similar to LTC's silver to BTC's gold situation. komodo price will be in sub-dollar range. ZEC price I have to imagine will be $10 to $100+, especially at first.

If komodo is a massive success that will give zcash a lot of exposure by necessity. I was also in discussions about donating the 5% staking by the zkp funds to the zcash devs, as I couldnt figure out a way how to get anymore than aggregate amounts in the zkp form, it is that strong a privacy. So if the zcash team would accept this, then we wouldnt just be a project that forked zcash, we would be contributing back GUI, publicity and also some Komodo

ICO on a fork of a coin that isn't even released yet. I rest my case.

@Pondsea - Since the Komodo team members are likely to benefit more than BTCD investors (payments from invested BTC), your opinions mean little..  Komodo team members opinions are NOT neutral and it is NOT genuine or authentic to pretend like it is..

The most neutral opinion is one of a current (as of last day of August) BTCD investor who is not part of Komodo team and NOT likely to be paid from the ~30,000 BTC collected..

We all know that Iguana/SuperNET/Bitcoindark 'had' a huge potential for a sharp rise in value on the freemarket the moment the very cool wallet application was truly ready for mainstream..  Monero and Steem had 50X rise on arguably less tech..  One komodo team member told be that 'whales' had already picked Bitcoindark for a minimum 7X gain...  Not a 25%, but a 700% gain (minimum)..  This makes sense now why you guys chose 30000 BTC for the ICO, as that's about what whales were valuing Bitcoindark at..  Except, now it won't be BitCoinDark investors who receive the gain, it will be whomever Komodo team chooses to benefit..

Iguana/SuperNET/Bitcoindark has Telepathy, Ram Chains, Pangea, InstantDEX, EasyDEX, multi-wallet, 100X faster sync, 50% compression, etc. etc. etc.  Komodo only adds a couple new features and therefore Bitcoindark/SuperNET/Iguana should be more like 80% or 90% of ICO, not 20%.

AND....  That is the opinion of a non komodo team member, who is managing the investment of BTCD for others.  I effectively have the obligation to reach out to Komodo team and ask them rethink this..

Komodo team - please.... really think this thru carefully..  What you have done is NOT ok..  It's basic common sense..  In the statutory world, people likely go to jail for less..  7X Market gain on 4Mil is 24 Mil profit..  This is NOT a lemonade stand.  You have to act with the utmost care for your investors.  Those who are signatures on the Komodo Multi-Sig BTC wallet, please be very careful and thoughtful about what you are doing, I have the deepest respect for you all and would hate to see you get into any trouble..

Promises were made and those promises need to be fulfilled with crisp, easy to delineate, lines..   Please do not co-mingle Komodo ICO with current obligations until after those promotions have been fulfilled and the freemarket has had a chance to adjust..  I have been a long time advocate of Supernet/Bitcoindark - I've been your biggest fan..  You need to fix this..

Komodo team: You guys are welcome to reach out to me on supernet slack, I'll be happy to explain to you in more detail, the various reasons I believe you need to seriously rethink this.

You can lead a horse to water, but you can make it drink.

You do realize that a lot of the real opposition is actually from BTCD supporters right?  This ICO actually affects us the most, not other coins/projects.

I didn't see mention that iguana will be released before end of ICO anywhere, so I must have missed it or it was buried somewhere in here or in slack.  If this could be made more prominent then it would change some things.  Preferably, iguana should be released even before the ICO starts.

Of course, there is this whole other issue of the ICO controlling BTCD market prices for the next months to come and ultimately diluting current BTCD holdings.  But I won't go into that right now.

sorry guys, I do not understand what is Komodo? Is it Zcash fork?

sorry guys, I do not understand what is Komodo? Is it Zcash fork?

Heads Up!   

https://twitter.com/zooko/status/772844221145292800

They cant finish it...if you go to the Slack Supernet BTCD channel and read the state of affairs...jl does not know how to manage this or any project. maybe he can code but the project is a mess...multiple people getting paid to do the same task...gui, no coordination, no launch plan...it's a mess and really a sign of what's to come for Komodo...sad state of affairs actually. JL does not know how to use git! How can he manage komodo development with more than himself if he can't use git! Komodo will never launch.

So for BTCD-Holders that ICO means, that their stack will be diluted because  the project needs new money for development, right? Why you didnt go the nxt-way without any ICO? Seems fairer to me to the people which still hold BTCD.

And if BTCD is a core segment of supernet, why will no funds of the supernet ico used for BTCD development?

Here's a thought:

If Iguana is so close to being finished for the first release and its development is independent of this new ICO, why not just finish it, then do the ICO?  Perhaps this would build more trust and more people (especially long time BTCD supporters) would support the ICO.  Iguana seems to be the one thing that development has been focused on for a good part of the year and many have been anticipating its release.  So to all of a sudden announce a new tech that is still being developed and will require yet even more extensive testing/debugging, is pretty ridiculous.  I understand this new tech is promising and could change everything, but it could wait.

The most terrible thing about multitasking is that it tends to leave a lot of tasks unfinished.  Focus on one thing at a time and get it done right.  Why is that so hard?

News about (translation) bounties?

I claim that iguanacore is working and it will be released with GUI before ICO funding starts. If you dont believe that I can complete tech projects dont put any funds in until the iguana is released. Or wait until testnet is live. Or wait until mainnet is live and buy from exchanges. The decision is entirely yours.

It seems many have failed to grasp the idea of dpow. From my reading skills, which many of you have none, dpow idea requires monies to be paid to keep it secure. ie: pay for the bitcoin transactions.

This ico makes for some interesting gambling. Jl777 said iguana will be released b4 the end of the ico, as well as the testnet for komodo. That is the bet. There is more risk at the beginning then the end. Remember several ico's, eth, wave, etc had zero tech before the Ico. Jl777 is promising tech before the end of ico. Infact you can play with iguana now. Maybe there isn't a gui but then didnt monero have zero gui forever.

Speaking of monero and it's pump. I think it's highly likely the fud is coming from their camp as they feel threatened about the upcoming release of zcash and zcash tech and have resorted to pump and fud as the strategy for their project.

What is crazy to me is everyone on this board should be on the same team. Our ecosphere needs things like what jl777 is creating. The fudders bitch and moan like jl777 ran over their mothers. Jeesh get a life.