[ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 863.

BitcoinOnFire

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Activity: 159

Merit: 100

1. "The new features of Komodo required capital. There is no way to have these features without having a new ICO."

BTCD price rise could not get the capital for that? It could if was not killed like we saw recently ...

Maybe even current BTCD holders would drop some money for additional dev, this could be seen better then just being screwd - because it looks like that.

2. "We had to think a way to make the new ICO fair to both new investors as well as the BTCD holders"

You mean between investors and .. investors right? Or more pricesely old investors that are screwed now, and new that will be screwed in the future maybe ?

Answere this baby: what is unfair for new ICO investors in buing BTCD which they could later exchage for KMD! In fact this would be 100% fair same for new as for old invetors. Plus you could sell some yout BTCD and get BTC when price rise. Doing it the way is now - is only unfair for BTCD. Please do not bsht - it's only to get more money, not about being fair. I understand for new tech some additional money is needed. But the way it's done is a shame.

PS. Saying you are doing good for BTCD holders is showing disrespect. If you want sth good for BTCD holders you would discuss things with them before I believe!

Quote from: KomodoPlatform on September 02, 2016, 12:03:22 PM

Komodo continues the path BTCD was on: anonymity. The price of BTCD was determinated by the average price in August, so no info were spread. Otherwise the price could have been artificially rised to make them worth more.

The new features of Komodo required capital. There is no way to have these features without having a new ICO.

We had to think a way to make the new ICO fair to both new investors as well as the BTCD holders. Of course we cannot please everyone, but we hope that everyone will begin to see what we are trying to achieve.

sambiohazard

hero member

Activity: 840

Merit: 1000

Quote from: jl777 on September 03, 2016, 06:19:42 AM

Quote from: sambiohazard on September 03, 2016, 06:12:53 AM

ah now its totally clear to me how all this works. I hope the revshare asset will be on some exchange for trading. So my KMD share will be decided by how much total BTC is raised in ICO. Thanks for making all this clear. I hope this works for all of us.

Regarding the notorization of KMD block hash into bitcoin blockchain, how will notory nodes calculate correct fees to get into next block? Also will this not be seen as spam by BTC devs like Luke-jr who are strictly against such piggybacking and are willing to attack a chain for doing so? Have you talked to BTC devs regarding this?

Even if no exchange lists the revshare coin, since it will be a bitcoin compatible coin, iguana's easyDEX can be used to directly do atomic swaps. komodo has all the bases covered.

The fees will be calibrated according to prevailing conditions. The notaries will be able to change the fee used.

The notary nodes will use a normal transaction. so if this is made illegal then a large percentage of normal bitcoin transactions will also become illegal. Since I am working with the btcfork project, I doubt I will have any useful conversations with the existing BTC devs.

Short of an illegal DDOS attack, I dont see how Luke-jr could attack the notary nodes as it isnt doing SHA256. All the bitcoin hashrate wont do anything to attack komodo.

Ok, thanks for your time & All the best

jl777

legendary

Activity: 1176

Merit: 1132

Quote from: sambiohazard on September 03, 2016, 06:12:53 AM

ah now its totally clear to me how all this works. I hope the revshare asset will be on some exchange for trading. So my KMD share will be decided by how much total BTC is raised in ICO. Thanks for making all this clear. I hope this works for all of us.

Regarding the notorization of KMD block hash into bitcoin blockchain, how will notory nodes calculate correct fees to get into next block? Also will this not be seen as spam by BTC devs like Luke-jr who are strictly against such piggybacking and are willing to attack a chain for doing so? Have you talked to BTC devs regarding this?

Even if no exchange lists the revshare coin, since it will be a bitcoin compatible coin, iguana's easyDEX can be used to directly do atomic swaps. komodo has all the bases covered.

The fees will be calibrated according to prevailing conditions. The notaries will be able to change the fee used.

The notary nodes will use a normal transaction. so if this is made illegal then a large percentage of normal bitcoin transactions will also become illegal. Since I am working with the btcfork project, I doubt I will have any useful conversations with the existing BTC devs.

Short of an illegal DDOS attack, I dont see how Luke-jr could attack the notary nodes as it isnt doing SHA256. All the bitcoin hashrate wont do anything to attack komodo.

BitcoinOnFire

full member

Activity: 159

Merit: 100

Maybe it's better he's anonyous. Peaople trust less unknown faces. -> ICO will take less -> BTCD holders will get better share? maybe ...

Quote from: Hyena on September 02, 2016, 02:07:07 PM

Do not buy into this ICO! jl777 is an evil reptilian. It doesn't take a genius to see this, using names such as Iguana and now Komodo exposes their draconian agenda. Unlike mammals they have no sense of empathy. Did jl777 think of BTCDholders feelings when launching a new coin? Hell no! Only a lizardman would not have empathy for their investors like that. But what really grinds my gears is the fact that jl777 hides their identity while asking for such a large amount of new capital. Neither Ethereum nor Waves ICO were launched by an anonymous person and they both got 30k BTC investments. Now jl777 also wants 30k but does not want to tell us their real name.

sambiohazard

hero member

Activity: 840

Merit: 1000

ah now its totally clear to me how all this works. I hope the revshare asset will be on some exchange for trading. So my KMD share will be decided by how much total BTC is raised in ICO. Thanks for making all this clear. I hope this works for all of us.

Regarding the notorization of KMD block hash into bitcoin blockchain, how will notory nodes calculate correct fees to get into next block? Also will this not be seen as spam by BTC devs like Luke-jr who are strictly against such piggybacking and are willing to attack a chain for doing so? Have you talked to BTC devs regarding this?

jl777

legendary

Activity: 1176

Merit: 1132

Quote from: foogatsy on September 03, 2016, 06:06:29 AM

Quote from: jl777 on September 03, 2016, 05:33:50 AM

Quote from: foogatsy on September 03, 2016, 05:27:14 AM

what is crypto777 asset? is good asset buy? what connection to komodo or supernet? can u recommend any other good assets buy?

thanks dev Cheesy

crypto777 asset is the asset that various crypto services will pay to, but it wont be till next year.

SuperNET asset is the best deal as it is selling for close to its NAV value, but has future tech revenue possibilities. SuperNET owns a big percentage of crypto777, among other assets

I cant think of any other asset that has that combination

thanks for reply dev. any bounty on this coin?

I am not dealing with any of those details, but pretty sure there will be. I saw that details will be posted here a bit later

supernet.org/nav.php shows the portfolio of SuperNET

foogatsy

newbie

Activity: 6

Merit: 0

Quote from: jl777 on September 03, 2016, 05:33:50 AM

Quote from: foogatsy on September 03, 2016, 05:27:14 AM

what is crypto777 asset? is good asset buy? what connection to komodo or supernet? can u recommend any other good assets buy?

thanks dev Cheesy

crypto777 asset is the asset that various crypto services will pay to, but it wont be till next year.

SuperNET asset is the best deal as it is selling for close to its NAV value, but has future tech revenue possibilities. SuperNET owns a big percentage of crypto777, among other assets

I cant think of any other asset that has that combination

thanks for reply dev. any bounty on this coin?

jl777

legendary

Activity: 1176

Merit: 1132

Quote from: sambiohazard on September 03, 2016, 05:53:13 AM

Quote from: jl777 on September 03, 2016, 05:38:18 AM

Quote from: sambiohazard on September 03, 2016, 05:28:03 AM

Hi i don't know how NXT asset system works, although i do have a NXT account. Can someone please answer following naive questions

1. Where do i have to send/hold my BTCD to get KMD after the ICO?
2. How do I get the revshare asset based on the snapshot? Do i have to submit my NXT account somewhere in a form to receive it or convert my BTCD to superBTCD?
3. How many approx. KMD will i get for each BTCD?

Thanks

Regards

Sam

There is no relation to NXT at all for BTCD. The only exception is the MGW asset superBTCD, but if you have the native BTCD there is no NXT involved

1. We will post a redeem address to send in the BTCD for redeem. Until then, there is nothing to do.
2. The snapshot is automatic. When the assetchain's genesis block is created (sometime next year), you will have 1:1 the same addresses and balances as of the end of ICO snapshot. Nothing to do here at all, just one day there will be a new assetchain that you have coins in.
3. The exact number is hard to say, but it will be a multiplier, like a stock split. The exact number will be so that the value of the KMD matches the value of the BTCD

Thanks for the quick reply, so this is what i understand from your reply

1. so its just like sending BTC to ICO, instead i would be sending BTCD.
2. For this i have to downoad the revshare client/wallet? How would it know that i own BTCD that i want to claim? Do i need to enter my priv keys or sign a message with them to get my revshares?
3. I heard BTCD holders will get 20% or 20M KMD, so it would be 20M/BTCD supply at time of snapshot? It comes to ~16 KMD/BTCD.

Sorry for all the naive questions but i want to be ready at time of swap and also want to calculate if it would be better to get in ICO or buy BTCD.

1. The BTCD redeem period will start after the ICO closes and be open for a year, but it is recommended to do it sooner, rather than later

2. There will be a revshare assetchain supporting client available when the assetchain genesis is ready. The snapshot will be used to just clone the BTCD chain balances into the assetchain genesis. So importprivkey for your addresses will do the trick

3. this is incorrect info you have, BTCD redeem will be a valuation neutral swap using .0053 as BTCD's price. So each BTCD redeemed is like you used .0053 BTC and that will get the same amount of KMD that .0053 BTC would. The exact number isnt known yet

What this means is that even if comparing against the biggest early bird bonus for BTC, any price for BTCD below .00424 is an arbitrage. As the ICO proceeds and the bonuses go away, the arbitrage price rises to .0053.

Note however that this puts a value of 0 for the revshare asset, so even at a .00424 price you are getting free revshare assets.

sambiohazard

hero member

Activity: 840

Merit: 1000

Quote from: jl777 on September 03, 2016, 05:38:18 AM

Quote from: sambiohazard on September 03, 2016, 05:28:03 AM

Hi i don't know how NXT asset system works, although i do have a NXT account. Can someone please answer following naive questions

1. Where do i have to send/hold my BTCD to get KMD after the ICO?
2. How do I get the revshare asset based on the snapshot? Do i have to submit my NXT account somewhere in a form to receive it or convert my BTCD to superBTCD?
3. How many approx. KMD will i get for each BTCD?

Thanks

Regards

Sam

There is no relation to NXT at all for BTCD. The only exception is the MGW asset superBTCD, but if you have the native BTCD there is no NXT involved

1. We will post a redeem address to send in the BTCD for redeem. Until then, there is nothing to do.
2. The snapshot is automatic. When the assetchain's genesis block is created (sometime next year), you will have 1:1 the same addresses and balances as of the end of ICO snapshot. Nothing to do here at all, just one day there will be a new assetchain that you have coins in.
3. The exact number is hard to say, but it will be a multiplier, like a stock split. The exact number will be so that the value of the KMD matches the value of the BTCD

Thanks for the quick reply, so this is what i understand from your reply

1. so its just like sending BTC to ICO, instead i would be sending BTCD.
2. For this i have to downoad the revshare client/wallet? How would it know that i own BTCD that i want to claim? Do i need to enter my priv keys or sign a message with them to get my revshares?
3. I heard BTCD holders will get 20% or 20M KMD, so it would be 20M/BTCD supply at time of snapshot? It comes to ~16 KMD/BTCD.

Sorry for all the naive questions but i want to be ready at time of swap and also want to calculate if it would be better to get in ICO or buy BTCD.

jl777

legendary

Activity: 1176

Merit: 1132

Quote from: sambiohazard on September 03, 2016, 05:28:03 AM

Hi i don't know how NXT asset system works, although i do have a NXT account. Can someone please answer following naive questions

1. Where do i have to send/hold my BTCD to get KMD after the ICO?
2. How do I get the revshare asset based on the snapshot? Do i have to submit my NXT account somewhere in a form to receive it or convert my BTCD to superBTCD?
3. How many approx. KMD will i get for each BTCD?

Thanks

Regards

Sam

There is no relation to NXT at all for BTCD. The only exception is the MGW asset superBTCD, but if you have the native BTCD there is no NXT involved

1. We will post a redeem address to send in the BTCD for redeem. Until then, there is nothing to do.
2. The snapshot is automatic. When the assetchain's genesis block is created (sometime next year), you will have 1:1 the same addresses and balances as of the end of ICO snapshot. Nothing to do here at all, just one day there will be a new assetchain that you have coins in.
3. The exact number is hard to say, but it will be a multiplier, like a stock split. The exact number will be so that the value of the KMD matches the value of the BTCD

jl777

legendary

Activity: 1176

Merit: 1132

Quote from: foogatsy on September 03, 2016, 05:27:14 AM

what is crypto777 asset? is good asset buy? what connection to komodo or supernet? can u recommend any other good assets buy?

thanks dev Cheesy

crypto777 asset is the asset that various crypto services will pay to, but it wont be till next year.

SuperNET asset is the best deal as it is selling for close to its NAV value, but has future tech revenue possibilities. SuperNET owns a big percentage of crypto777, among other assets

I cant think of any other asset that has that combination

sambiohazard

hero member

Activity: 840

Merit: 1000

Hi i don't know how NXT asset system works, although i do have a NXT account. Can someone please answer following naive questions

1. Where do i have to send/hold my BTCD to get KMD after the ICO?
2. How do I get the revshare asset based on the snapshot? Do i have to submit my NXT account somewhere in a form to receive it or convert my BTCD to superBTCD?
3. How many approx. KMD will i get for each BTCD?

Thanks

Regards

Sam

foogatsy

newbie

Activity: 6

Merit: 0

what is crypto777 asset? is good asset buy? what connection to komodo or supernet? can u recommend any other good assets buy?

thanks dev Cheesy

jl777

legendary

Activity: 1176

Merit: 1132

Quote from: akhavr on September 03, 2016, 04:48:19 AM

Quote from: jl777 on September 02, 2016, 06:01:07 AM

To run a notary node and get $500+/mo you need to be one of the top 16 in any of the four regions: North America, Europe, Asia/Eastern Europe, Southern Hemisphere

Melting together Poland (Eastern Europe) and Singapore (Asia) feels way to coarse grained to me.

What's the metric for "top"?

It could be, maybe we need 5 regions? We can improve the course 4 regions, the important thing is to prevent any geographic location from getting too large a percentage, so actually the more regions the better to some degree

"top" would be based on the sum of stakes that voted for a candidate

akhavr

full member

Activity: 235

Merit: 100

Quote from: jl777 on September 02, 2016, 06:01:07 AM

To run a notary node and get $500+/mo you need to be one of the top 16 in any of the four regions: North America, Europe, Asia/Eastern Europe, Southern Hemisphere

Melting together Poland (Eastern Europe) and Singapore (Asia) feels way to coarse grained to me.

What's the metric for "top"?

KomodoPlatform

sr. member

Activity: 784

Merit: 253

Set Your Ideas Free

Quote from: deadlock1 on September 03, 2016, 01:32:34 AM

Some people see this necessary change too critical! Change or die, this is the way all crypto evolves. 3rd generation cryptos are coming, bringing nice features to us. And we are IN.

The big step forward was necessary anyway. Would a hardfork in our case have been better? No - rebranding and restart the chain was a good idea and also important to take the newest anonymity tech. Also highly underestimated is the value of a "managed coin"! Quality software development and application maintainance costs money, so what??

No complaints, BTCD-holders, you get your 50% add value! A bit patience and you can go without losses to any other coin or stay. To me, this is a fair way!

Well said sir!

If we want to secure a good future for BTCD it must be using the best technology.

Long term thinking and long term goals will require a lot of hard work at first, without the immediate reward, but at the end the reward is huge.

There is a vision, and sometimes a better route will emerge to get to that vision, and in this case it such a route emerged and it required Komodo.

Kabapka

full member

Activity: 189

Merit: 100

yet one more ICO with james Cheesy

KomodoPlatform

sr. member

Activity: 784

Merit: 253

Set Your Ideas Free

Quote from: rocketsTmac on September 03, 2016, 02:28:41 AM

JL777HODL, BTCD, SUPERNET are all his projects to spend on big house, Lambo, diamonds. He lacks of money, now he will plan his ico again. Bagholders, 100% sure. Cheesy

- The technologies jl777 is building are not totally independent of each other, they need each other, and as such they are all required. Huge progress is being made, but for the visualized results (GUI / videos) you will have to wait little more.

- if jl777 has a Lambo it must be sitting in his garage with a thick dust on top of it, because he has been working around 16 hours a day for two years. If you don't believe me join our Slack and witness it yourself Wink

rocketsTmac

member

Activity: 91

Merit: 10

Quote from: chivaki on September 02, 2016, 09:32:52 PM

Quote from: pvnamk19 on September 02, 2016, 12:32:06 PM

HODL, HODL, HODL!I suspect that when his alliance dumped most coins, he dilutes 200x to raise more money again.
Jl777 is doing many very long term projects and all profits will pour into your ... ILLUSION.
Show your codes with other devs who can understand potential profits, pay them with SuperNET money and assests, do the rest as promises. Why don't you do this way?
Another cycle will be this: no real product, just git, clone & run because he can't do GUI, do not blame him...
Because NXT devs kicked him out, SuperNET and other assets are nearly homeless.
CryptoCard is dead in silence. Teleport, Telepathy: too longterm ideas that ZCASH makes them obsolute and James wants to depend on that technology to further delay his project if anything happens with Zcash relationship.
InstantDEX will be EasyDEX for a show case after 2 years gambling with SuperNET money and no real product.
After BTCD dilutting, SuperNET and other assets manipulating projects is the next?

By the way, up until now, Jl777's API is like this:

Jl777's commitment is as following:

Poor all BTCD bagholders!

In a nutshell
Like that

JL777HODL, BTCD, SUPERNET are all his projects to spend on big house, Lambo, diamonds. He lacks of money, now he will plan his ico again. Bagholders, 100% sure. Cheesy

deadlock1

hero member

Activity: 658

Merit: 500

methodic madness

Some people see this necessary change too critical! Change or die, this is the way all crypto evolves. 3rd generation cryptos are coming, bringing nice features to us. And we are IN.

The big step forward was necessary anyway. Would a hardfork in our case have been better? No - rebranding and restart the chain was a good idea and also important to take the newest anonymity tech. Also highly underestimated is the value of a "managed coin"! Quality software development and application maintainance costs money, so what??

No complaints, BTCD-holders, you get your 50% add value! A bit patience and you can go without losses to any other coin or stay. To me, this is a fair way!

Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 863. (Read 1191723 times)