Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 857. (Read 1192381 times)

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?

Edit:
Yeah. A listing of the spent money of most projects here would be really interesting...

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.

News about (translation) bounties?

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?

Hi all,

btc12.com is a Chinese blog exclusive of ICO hunting.

here is the simplest review of KOMODO ICO.

have special thanks to the one who pasted a wonderful picture here.


enjoy.

http://btc12.com/komodo-allaboutjl777/

https://bitcointalksearch.org/topic/btcd-is-no-more-684090

Here you go.

I cannot find a btcd local client, can you please provide me a link? Thank you.

The thinking is the latter, but only up to a small percentage of amount raised. so if a large amount comes in, then it wont be a big deal due to the relative small value of NXTventure.

If not enough comes in, then at least there could be a liquidation distribution of its contents, or maybe it can stay on the shelf and be resurrected if we get the resources to manage it.

Thanks for that answer James! Might there be more asset dividends for NXTventure from new projects, or an allocation of KMD for NXTventure?

swap starts right after ICO closes and is available for a year. Just make sure to have the BTCD local so you get credit in the revshare asset snapshot

The BTC and CNY (tokens) that were raised was held by bter who hosted the ICO.
The process to obtain funds from bter was: https://nxtforum.org/unity/supernet-funds-request-authorization-thread-official/

I had a bad feeling about bter and was trying to withdraw the funds, but the above process was cumbersome and very slow. Right when I had a large pending requests waiting for committee approval, bter was hacked and it was all lost. The very process that was supposed to protect the funds was indirectly the cause for losing a large percentage of our liquid assets.

"Luckily" the large majority raised in the ICO was NXT, which the hack didnt steal so while the loss of BTC in bter was large in terms of percentage of BTC, overall capital percentage was much less. What killed the NXT side's value was the double bear market. NXT declined 85% in BTC terms while BTC dropped to $200. This is how the NAV dropped by 80% to .002 BTC and I was forced to start trading to generate BTC for operating expenses. I really should have been trading all along, but even after the hack there was plenty left and the bear market was this slow gradual loss of value, I was like the frog being boiled very slowly. Plus I was coding nonstop.

I was forced to shift to a just in time method, where I would make sure to have enough liquid BTC for the required expenses. I would get the trading gains and send it to noashh at https://blockchain.info/address/15DJTUgBz6mkGDVxAe7fXsR2tszq5Fyt1L and he would deal with all the day to day expenses.

I have been able to make enough profits from predictable market mispricings. It seems my understanding of the tech and trading experience combines so I am able to have a decent success rate. In some cases I also sell off some of an existing position, but other than NXT, SuperNET's positions in its portfolio coins has been generally growing. The portfolio has diversified away from NXT.

The bter hack and the bear market has forced us to be very, very frugal and our burn rate has been reduced about 10 BTC/mo to 20 BTC/mo. I guess most people dont realize the hardships SuperNET has gone through on the money side of things. At any given time there is typically around (6 months ahead) 100BTC as I need to be making trades to gain BTC and that is hard to do if you are holding BTC.

I hope the above has clarified the SuperNET BTC situation, it has been explained before but I guess not all the gory details. noashh can answer any questions about the day to day expenses. For all those that were saying I would just run off with the money, I believe I have proven that I am a responsible money manager.

I have been using my skills as a crypto trader to restore the NAV closer to ICO levels while covering the operating expenses and keeping the community updated via slack. All that, while coding the iguanacore 12 hours per day. Which is a full bitcoin implementation written in C from scratch. I only code in C, I dont do GUI. However, unlike some projects, SuperNET seems to need a GUI or the API at http://docs.supernet.org doesnt count for anything.

So we are making the GUI and installers

will be following this

Reserved. I bought BTCD 10 days ago, am I eligible to already swap, have I missed a swap opportunity or what?

I know what supernet is, i was one of the first investors,  but thanks for your advertisment.  I just need the BTC address to show other and prove that all BTCs are still untouched.

I dont know about the BTC from the Supernet ICO but check out http://www.supernet.org/nav.php

Some of it has been invested this year to provide a healthier NAV. Whilst other coins are backed by promises, Supernet is back by assets.

Commodos says to this ICO  





I would like to write a short update about supernet ICO and some events in the past. As i know all BTC from Supernet are still on a safe multisig wallet,  could you post that link please James?, THX! and let me say good job so far, even if some projects lost some focus.

For all the fudders, the ICO is on the 15th of Oct.

Save your energy till and start fudding around that date.  

How do you know you will get 5x dilution?

Who is most people that believe they are swapping 1:1?

I needed a way to secure very weak chains, chains that might run on a handful of nodes with weak PoW or PoS. Otherwise assetchains wouldnt be secure enough for anything with a lot of value, like SuperNET.

I came up with a half solution:
https://bitco.in/forum/threads/using-btc-as-time-sequence-server-to-allow-cross-chain-atomic-swap-and-increase-security-of-altchain.925/

The initial idea had some issues, but after a few intense review sessions with anonymint, the idea evolved into what would become dPoW. I take responsibility for any issues in the dPoW, anonymint reviewed the high level ideas.

With the requirements and basic design in mind, it became clear that notary nodes are needed, otherwise it is very difficult to prevent data spoofing on the bitcoin chain. I had recently gotten familiar with steemit and am actually one of the backup witness nodes, so that structure filled in the details needed for the notary nodes.

From NXT, its PoS is more efficient than the utxo+coinage method as there is just one hash needed per address, versus one for each utxo. Also, the NXT PoS has stood the test of time and has been reviewed. Of course being PoS it is not as secure as bitcoin PoW.

Nothing is as secure as bitcoin PoW.

Starting with the need to secure assetchains, getting the initial half right idea, refining it via discussions, to the final selection of the components. It didnt come as any fully formed idea, but rather had to be evolved and refined over time.

Now the dPoW with the notary servers of course is not anything a small assetchain can possibly afford to have. It will be expensive enough for a large coin, but I realized that like the bitcoin hashrate can be utilized by dPoW, the dPoW can be used by other chains.

So to fully solve the initial need, that is what was required