I find all of this very interesting and the tech is promising.
However, I was not involved in and know nothing about SUPERnet or BTCD, so much of this thread is quite confusing for me.
I am finding it hard to make sense of the different angles here and to understand what I should do to maximise my value if I want to invest a decent amount of BTC into this.
Should I be buying BTCDs now to hold and exchange? how/where should I hold them? What's this business about dividends and getting some free stake in SUPERnet?
Really, if you want people like me to invest a lot of btc then you need to make it very clear for us exactly what we need to do now to get the max value from our investment.
If we get to the ICO and I find out that I could have got a few advantages by doing things differently (buying BTCD now etc) then it will put me off investing at all as I will feel I missed the real opportunity on offer - and many like me will feel the same.
I hope you'll make it very clear for those who have no knowledge of BTCD or SUPERnet exactly what they need to do now. If you want to attract 10's of thousands of btc then you will need to attract a lot of fresher blood than just your usual crowd. I applaud you not giving preferential treatment to BTCD holders. You are right, I would not invest a single btc if preference had been given. But don't forget, I also won't invest if I feel that I missed the boat on anything, and I know nothing about any of the other projects or income possibilities that are mentioned in this thread, they are not explained properly, so it leaves newcomers feeling very confused.
Please produce an idiot-proof guide for new btc investors with no previous knowledge of your other projects.
What should I be doing now if I want to get involved and get the most bang for my buck?
Thanks, good work, the scope and implications for the project are indeed fascinating.
Hello! You are bringing up an important point. Our previous Q&A post was primarily directed towards the BTCD community. We should definitely make another Q&A for the BTC investors as well. Also we have a whitepaper coming, and we will be making more articles describing what we are up to! If you are looking for some general information regarding SuperNET we had a report made about it: SuperNET & Nxt Annual Report 2015 Some of the info is already outdated though, as there were a split between Nxt and SuperNET, then Ardor, and now BTCD's roadmap had an upgrade to Komodo. It also talks about a lot of things not directly related to SuperNET. It should give a good general overview nonetheless. We also recommend you to join our Slack, we have dedicated channels for each project. |
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@KomodoPlatform
do you plan to make an ad campaign on Reddit and Facebook?
Our understanding is that on Reddit the ad spots are booked for many months in advance. We will consider a Facebook ad campaign though, if we conclude it to be worthwhile. Is a Facebook ad campaign something you would strongly recommend yourself?
Is it possible that a new role could be made for btcd once things move to komodo?
We cannot promise anything like that. Our current plan is to eventually move all the tech over to Komodo. Of course a new developer team could be formed for the BTCD, but for a project without any funding that is quite unrealistic. |
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So I still have not gotten a clear answer on this:
What is proposed to happen to the BTCD that has been swapped for Komodo?
Nothing will happen to it. Currently BTCD is used by Iguana, so the network will continue running to make sure nothing breaks. However, over time everything will be moving to Komodo blockchain, and at the end BTCD will have no role left in the SuperNET ecosystem. Komodo is the new BTCD, it just got an upgrade to the privacy technology and a new consensus method dPoW. Does this answer to your question?  |
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I know jl777 is a famous developer. But can someone summarize how many ICOs he launched and how many he delivered? I read somewhere that he likes to abandon projects.
I hope my message is not moderated, I am genuinely interested in investing but I need some information that I lack.
thanks
Hello, and welcome! We don't moderate this thread at all One of the misconceptions is that the projects would be isolated from each other, but in fact they all more or less need each other. Some projects (like Pangea) need to solve a lot of complex problems which also other projects are looking to solve. In other words, a single project cannot be 100% completed before the overall technology is in place. jl777 has been working hard and has made a steady progress that has led him to solve those hard problems. In many cases, we are getting to the finish line, where only a GUI team and a project manager is needed to completely finish them. Second point is, that many of the projects are started by a third party, and SuperNET is just a partner. One such example would be Pangea poker, which unfortunately has now fallen under jl777's responsibility. On the other hand, there are projects such as SkyNET and NXTFreeMarket, which are still being developed by third party. A third point would be, that the roadmap to solve these hard problems can change. It's impossible to know in advance how to solve each problem, and sometimes a better option emerges. Komodo is a perfect example. A better alternative appeared, Zcash, and thus the roadmap for BTCD changed. The BTCD was not abandonet, because the previous investors now get to swap to for KMD. Fore more information I refer to the following comment: The technlogy SuperNET is developing is not fictional, it is not an empty promise. It is here! Verify the progress yourself!
github.com/jl777/SuperNET docs.supernet.org (a list of iguana API) SuperNET Slack channel #Iguana - Iguana is functioning at the command line level - There is a team developing HTML/JS GUI (they post updates to #Iguana channel) - Both the iguana core and GUI are open source - Soon there will be installers, and a first release Komodo ICO will bring more funds that are necessary to remove all the obstacles there are before we can get a mainstream adoption. But that is a long term plan. With the short term, there are at least: 1) Iguana release 2) anonymous transactions 3) dPoW We are working really hard to have the first Iguana release before the ICO starts. During ICO there will be a working dPoW in testnet. Finally, very soon after the ICO ends, we will get anonymous transactions. What James has done during the past has not been a simple task. He has solved extremely hard problems. Here is what he just said about Iguana: Took me 9 months to write iguana, the first multicoin parallel syncing bitcoin protocol daemon, including RPC, that compiles to 2MB. Is that slow? Not sure, but I know if I tried to find someone to do that, they would ask to fund a full dev team for at least that long. People dont realize the scale and difficulty of creating working backward compatible improvements to the state of art.
jl777 has given a detailed update about all the projects mentioned: While I have done many projects, I think "dozens" is an exaggeration. Similarily your statement about no projects finished is a bit harsh. jl777hodl is a holding fund for various crypto projects. As such it has been finished for years. It was the first asset that started trading and made history, this was something like 2 years ago. I would consider this finished. MGW is multigateway.com and that also has been finished and in service for over a year. Since it is working and being used for over a year, I would consider that finished. NXTventure is another one that has been finished for over a year. It has paid out in dividends more than I think any other NXT asset by value of dividends at the time it was sent out. Again, the future of NXTventure is hampered by all the changes with NXT that is out of my control, however I would consider NXTventure was completed. SuperNET is a hybrid holding vehicle and technology incubator. At least that is one way to look at it. http://www.supernet.org/nav.php shows its current holdings and despite being hit by a 75% reduction in its NAV the first year (mostly due to NXT price decline and my not actively trading), the NAV has more than doubled to within striking distance of the original. This is achieved while paying for all the costs to run SuperNET out of the investment gains. Now what other project self-funds from investment gains that it makes? I have issued more than a dozen proxy assets, such as mgwBTC and superBTC. These asset's function is to represent 1:1 the BTC to allow using the NXT AE to trade them via blockchain. I did this 2 years ago and I am pretty sure it was the first tokenDEX that allowed trading of crypto against crypto. This is 2 years ago, when just now we finally see other solutions of this kind appearing. I would consider these assets completed. Iguana is a bitcoin daemon and wallet that can sync the entire BTC blockchain from scratch in 2 hours. It also can sync over a dozen other coins, all from a self-contained codebase that I wrote from scratch. Its codesize is about 3MB and it has been ported from unix to osx, win32, win64, android and chrome app. docs.supernet.org documents its API bindings and it is now in the final stages of debug and will be used as a component within komodo. I have seen some GUI that is looking pretty good and for basic wallet function and parallel sync it appears to be working, though I do the core level code and not the GUI so I cant speak for it in detail. Is iguana completed? Not quite, but it is very close and I suggest you take a look at it. The source code has been open and available during the development process at https://github.com/jl777/SuperNET and you can see that I have been quite busy over the years. docs.supernet.org documents the API crypto777: this is an ongoing technology revenue asset and as soon as project start generating revenues, it will too. It basically represents revenues from the technology that I do that doesnt already have an asset to encapsulate its revenues. In some sense it is done, just that the revenue streams are flowing yet. Maybe this is in an in-between state, but there was no ICO per se for this, so not sure if you have an issue with it. Now to the real unfinished projects list, however please note that there was NO ICO for these and it was funded by small number of private investors, so I dont think it is fair for you to criticize them as an incomplete ICO, as they were not even ICO: InstantDEX: easyDEX is in last stages of coding/debugging and is part of the overall solution of loosely coupled blockchains using atomic swaps. The full InstantDEX was mostly working last year(!) however due to disappearance of GUI dev combine with NXT increasing txfees dramatically while reducing the available space to store data, made an InstantDEX built on NXT uneconomic. Should InstantDEX have been finished by now? Yes. I made a mistake of building the InstantDEX on top of NXT, which is a platform that I had no voice in and when everything was changed and made it so a few of my projects became unviable, my protests were met with a "you should have known better". OK, so lesson learned and now I know better, I wrote iguana from scratch so its entirety I am in control. Never again will I be at the mercy of arbitrary changes that break backward compatibility and the fundamental economic model of a service I built on top of it. Pangea: this is a decentralized poker service that is in a holding pattern now due to the retooling required to switch from a NXT based service to iguana based. Tradebots/NXTcoinsco: part of this is in the process of being completed within the easyDEX framework, but again the shift from NXT based to iguana based was a delay factor. NXTprivacy: this is mostly a deprecated asset due to my shift from NXT to iguana, but I do have a plan to infuse some life to it after the dust settles from the other projects. In any case it never did any ICO and didnt even do much of secondary trading on NXT AE, so its priority has been low. Do you want me to list the projects that I didnt even raise funds from private investors and are just various technology projects that I have percolating? Not sure why you would have any complaints if I have a lot of projects in the research phase that I have not raised funds for. I proposed an Asset Passport system, which is a way to protect asset issuer and holders by allowing them to migrate from chain to chain. This was actually the genesis of dPoW which evolved from the need to secure weak PoS chains. I never raised any funds for this. I have proposed Teleport, Telepathy and PAX within the BTCD context, but I did not do any ICO to raise funds to develop this. Teleport at a high level is similar to zcash, in that there is a blackbox of bits representing the transaction, but the math behind the zero knowledge proofs is a step above anything else and I always want to use the best tech solution for my systems, even if it means replacing something I made. Telepathy is a network level privacy "mixer" and this will work on top of the komodo, of course it needs for komodo to be finalized and also its urgency is much less due to the strength of zcash tech. PAX has been coded to alpha level, but as an unfunded project has been back burnered and also waits for the full transition to iguana. Is it is disappointing that these things have not been completed yet? Sure, but I am just one guy coding away most days and many have advised me to get more help at the core level. The issue is I cant find any other C coders at my level who will work for anything less than a lot of money. I am also providing free consulting for many projects, they just have to ask and I try to help as I can, which is usually with some technical ideas. I am not the one actually doing these projects though, so I hope you do not hold me responsible for any delivery status of all the projects I have helped with my advice. I understand if you see all these projects and there isnt the level of success you want to see. After all if it was all finished and a big success I wouldnt have to be working these 14 hour days 28 days a month, continuously. However, the perception that I never finish everything is not correct. The perception that I do dozens of ICOs and just spend all the money and ask for more, is not correct. I have done exactly one ICO outside of the NXT assets, and that is SuperNET. Its charter for use of funds is primarily to make investments and I have been funding operations from the profits, while growing the NAV from a low of .002 to its current .006 level. If you can name any other ICO I conducted where funds were raised and I havent delivered anything, I am curious to know what it is. As you can see I am not limited in the number of ideas, nor do I feel their quality is low. What I need is more resources. I had hoped to get at least half a dozen volunteers to work on the core C projects, but alas, there were none. With komodo there is the possibility of creating not only the first dPoW implementation, but also to fund all of the pending projects that are in slow motion due to my only having 16 hours per day to work and I am slacking off this year by working only 14 hours per day. James In a follow up:
CryptoCard is completed, coinomat issued debit cards
Teleport - this is not any asset, how is it possible that an ICO was done for something without even an asset
Telepathy - this is not any asset, how is it possible that an ICO was done for something without even an asset
PAX - this is not any asset, how is it possible that an ICO was done for something without even an asset
Pangea
Neodice
Jay
SkyNET
above are all other dev's projects that SuperNET invested in and gave out dividends in. After it was given as a dividend it started trading in the open market. Please tell me where in this picture SuperNET or I am making an ICO to collect lots of money?
NXTprivacy was done as above, ie free dividend and after market trading by the people who received the assets.
which leaves InstantDEX, crypto777 and SuperNET
InstantDEX had private investors and then like the above assets was dividended out to SuperNET asset holders.
SuperNET, we know that its NAV is mostly preserved over the years as the technology has been developed: supernet.org/nav.php
Most of the projects SuperNET develops are not isolated, but they are part of the overall solution that will solve major problems crypto has. It's not possible to complete one piece 100%, and then move to the next one.
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)
At the end all the hard work will pay off, as the working products will begin to pop up like mushrooms after rain. The progress has been invisible to some because they don't follow close enough. When someone develops something of this scale, the exact path of how to get there is not known. Now we became to a crossroad, which we couldn't see before, and it looks like "Komodo" is the route we should take. |
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An announcement regarding BTCD Swap rate and bonuses
There has been a lot of discussions about the BTCD swap rate, and whatever the 0.00532 BTC/BTCD rate is enough.
As the community was waiting for the coming announcement, the BTCD price had already climbed near this price. Once the announcement went live, the price had already reached its 'ceiling'. What made things look even worse was the ICO bonus system for BTC investors. Those bonuses would further lower the KMD share BTCD investors would get in the swap. In other words, some people felt that BTC investors have a significant edge, because they have the bonus system and the BTCD holders feel like they didn't get one.
To solve this, the allocation of BTCD in the ICO will be saved from dillution by applying the average bonus the BTC investors got to the swap rate.
Example: Lets say 10000 BTC are collected and 1000 BTC in early investor bonus was taken. That means the average bonus is 10%. This brings the BTCD swap rate to 0,005852.
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An announcement regarding BTCD Swap rate and bonuses
There has been a lot of discussions about the BTCD swap rate, and whatever the 0.00532 BTC/BTCD rate is enough.
As the community was waiting for the coming announcement, the BTCD price had already climbed near this price. Once the announcement went live, the price had already reached its 'ceiling'. What made things look even worse was the ICO bonus system for BTC investors. Those bonuses would further lower the KMD share BTCD investors would get in the swap. In other words, some people felt that BTC investors have a significant edge, because they have the bonus system and the BTCD holders feel like they didn't get one.
To solve this, the allocation of BTCD in the ICO will be saved from dillution by applying the average bonus the BTC investors got to the swap rate.
Example: Lets say 10000 BTC are collected and 1000 BTC in early investor bonus was taken. That means the average bonus is 10%. This brings the BTCD swap rate to 0,005852.
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when whitepaper will be avlbl ?
We are working on it, there is no exact publication date yet. |
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Another question.
What does BTCD has to do with ICO?
If someone who does not have any BTCD and wishes to buy KMD during ICO, will he have to buy BTCD and swap it for KMD?
When we take into account the bonuses during ICO, we get:
Oct. 15 - 25% bonus = 0.00425 BTC/BTCD
Oct. 16-22 - 20% bonus = 0.00443 BTC/BTCD
Oct. 23-29 - 15% bonus = 0.00462 BTC/BTCD
Oct. 30-Nov 5 - 10% bonus = 0.00483 BTC/BTCD
Nov 6-12 - 5% bonus = 0.00506 BTC/BTCD
Nov 13-20 - 0% bonus = 0.00532 BTC/BTCD
Komodo is basically BTCD 2.0 and it is created by the same team (jl777). BTCD has a role to play in Iguana (a SuperNET technology), but in the future Komodo will take over that role. Everything will be moving to Komodo. You can invest with BTC if you want to, but we also offer a fixed rate of 0.00532 BTC/BTCD for the BTCD holders. We tried to include all ICO info in detail here: https://steemit.com/komodo/@komodoplatform/komodo-ico-questions-and-answers |
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Do i need to reserve a spot? something I'm a little confused about the below comment from https://steemit.com/komodo/@komodoplatform/komodo-ico-questions-and-answers How was the BTC/BTCD exchange rate calculated?
This exchange rate was determined by adding a 50% bonus to the daily closing price average of August. That is the previously mentioned 0.00532074 BTC per BTCD.
However, because of the way ICO is structured,it would be profitable to sell your BTCD at the 0.0053 rate in o[/b[/u]][/font] in order to take advantage of the early bird bonus (for example, 25% in the first day). Thus the BTCD/BTC exchange rate will probably be lower at the start of the ICO then it will at the end.
The following was calculated based on the BTC bonus:
Oct. 15 - 25% bonus = 0.00425 BTC/BTCD
Oct. 16-22 - 20% bonus = 0.00443 BTC/BTCD
Oct. 23-29 - 15% bonus = 0.00462 BTC/BTCD
Oct. 30-Nov 5 - 10% bonus = 0.00483 BTC/BTCD
Nov 6-12 - 5% bonus = 0.00506 BTC/BTCD
Nov 13-20 - 0% bonus = 0.00532 BTC/BTCD[/b] how can you sell early at that rate? you can't unless market dictates. so for BTCD holders, best to hold until after the ICO. then convert BTCD to .00532 BTC then to komodo correct? Yes, the market will set the price, which should be close to those prices. Let's take a simple example: mr Jon is a Komodo enthusiast who is looking to put 1 BTC into the Komodo ICO. He wants to get the biggest bonus he can to get as much KMD as he can! Jon has two choices: 1) buy on Oct 15th with 25% bonus, which would get him 1.25 BTC worth of KMD at the end, or 2) buy BTCD at the current market price, and then swap it to KMD. Thus Jon eagerly goes to coinmarketcap.com and searches for BTCD price. He finds the BTCD price is only 0.003853 BTC/BTCD ! Jon quickly calculates that with 1 BTC he can buy 260 BTCD's! Then he remembers that the Komodo team had fixed the rate to 0.00532 BTC/BTCD. Thus he gets 260BTCD * 0.00532 BTC/BTCD = 1.38 BTC worth of KMD Buy with BTC on Oct. 15: you get 1.25 BTC worth of KMD Buy BTCD today and swap: you get 1.38 BTC worth of KMD Of course you would have to factor in the extra time: if you don't buy BTCD today, you could use your capital elsewhere and make a profit. On the other hand, if you buy BTCD today you will also get the extra revenue asset! It's a free market and when people realize this the price should be near 0.00425 BTC/BTCD on Oct 15... or even today...? |
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Can you explain the dPoW fees? For example, you say money is needed for that. Aren't you talking about Bitcoin tx fees here which current optimum is 70 sat per byte or about 17,920sat per tx which is currently about $.10USD. thanks Good question! This is a topic we haven't really touched on yet. More information will be in the coming whitepaper and in the articles we will write. The notary nodes will have to create a large multi-signature transaction, which will cost 0.001 - 0.01 BTC depending on the transaction fees. These transactions have to be regularly done, so there will be an unbroken record of the Komodo PoS blockchain in the Bitcoin blockchain. How do these notary nodes pay all these tx fees? At first they will get paid from the capital we raise in the ICO. Ultimately, the system will become self-sustaining as more and more projects will be using Komodo dPoW or the blockchain in general. The initial cost is estimated to be 500 BTC per year for the high end scenarios. So 500 BTC would be paid to 64 notary nodes who would support the dPoW system. In a high end scenario this amount would represent around 2 % of our capital. If we don't raise enough funds then there are numerous ways to bring down the costs of dPoW. For example, the number of notary nodes could be decreased or the parameters changed. We are currently working on the whitepaper, which will explain this in more detail. |
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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.
We see your point. We will try to make the ICO as transparent as possible, so everyone understands that BTCD holders can later swap for KMD. The fact that BTCD isn't swapped during ICO makes this thing a lot more complicated. For now we have added the following to the second comment: KMD coin distribution
90 million Komodo coins will be distributed to those who participated in the ICO either with BTC or later with BTCD via the swap procedure. In other words, some percentage will go to those who invested with BTC and the remaining portion to those who will swap their BTCD to KMD after the ICO.
The BTCD/KMD and BTC/KMD exchange rates depends on how much money is raised, and they can only be calculated after the ICO has ended.
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Howcome it's wrong?
Because of [...]
The swapping process will take place after the ICO
[...]
And in the graphic it shows 90% for 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. |
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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 |
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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. |
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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?
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. |
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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. |
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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!
Hi there! We just published extensive article in Steemit: https://steemit.com/komodo/@komodoplatform/komodo-ico-questions-and-answersAll the answers should be there! Let us know if you have any further questions. |
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The technlogy SuperNET is developing is not fictional, it is not an empty promise. It is here! Verify the progress yourself!
github.com/jl777/SuperNET docs.supernet.org (a list of iguana API) SuperNET Slack channel #Iguana - Iguana is functioning at the command line level - There is a team developing HTML/JS GUI (they post updates to #Iguana channel) - Both the iguana core and GUI are open source - Soon there will be installers, and a first release Komodo ICO will bring more funds that are necessary to remove all the obstacles there are before we can get a mainstream adoption. But that is a long term plan. With the short term, there are at least: 1) Iguana release 2) anonymous transactions 3) dPoW We are working really hard to have the first Iguana release before the ICO starts. During ICO there will be a working dPoW in testnet. Finally, very soon after the ICO ends, we will get anonymous transactions. What James has done during the past has not been a simple task. He has solved extremely hard problems. Here is what he just said about Iguana: Took me 9 months to write iguana, the first multicoin parallel syncing bitcoin protocol daemon, including RPC, that compiles to 2MB. Is that slow? Not sure, but I know if I tried to find someone to do that, they would ask to fund a full dev team for at least that long. People dont realize the scale and difficulty of creating working backward compatible improvements to the state of art.
jl777 has given a detailed update about all the projects mentioned: While I have done many projects, I think "dozens" is an exaggeration. Similarily your statement about no projects finished is a bit harsh. jl777hodl is a holding fund for various crypto projects. As such it has been finished for years. It was the first asset that started trading and made history, this was something like 2 years ago. I would consider this finished. MGW is multigateway.com and that also has been finished and in service for over a year. Since it is working and being used for over a year, I would consider that finished. NXTventure is another one that has been finished for over a year. It has paid out in dividends more than I think any other NXT asset by value of dividends at the time it was sent out. Again, the future of NXTventure is hampered by all the changes with NXT that is out of my control, however I would consider NXTventure was completed. SuperNET is a hybrid holding vehicle and technology incubator. At least that is one way to look at it. http://www.supernet.org/nav.php shows its current holdings and despite being hit by a 75% reduction in its NAV the first year (mostly due to NXT price decline and my not actively trading), the NAV has more than doubled to within striking distance of the original. This is achieved while paying for all the costs to run SuperNET out of the investment gains. Now what other project self-funds from investment gains that it makes? I have issued more than a dozen proxy assets, such as mgwBTC and superBTC. These asset's function is to represent 1:1 the BTC to allow using the NXT AE to trade them via blockchain. I did this 2 years ago and I am pretty sure it was the first tokenDEX that allowed trading of crypto against crypto. This is 2 years ago, when just now we finally see other solutions of this kind appearing. I would consider these assets completed. Iguana is a bitcoin daemon and wallet that can sync the entire BTC blockchain from scratch in 2 hours. It also can sync over a dozen other coins, all from a self-contained codebase that I wrote from scratch. Its codesize is about 3MB and it has been ported from unix to osx, win32, win64, android and chrome app. docs.supernet.org documents its API bindings and it is now in the final stages of debug and will be used as a component within komodo. I have seen some GUI that is looking pretty good and for basic wallet function and parallel sync it appears to be working, though I do the core level code and not the GUI so I cant speak for it in detail. Is iguana completed? Not quite, but it is very close and I suggest you take a look at it. The source code has been open and available during the development process at https://github.com/jl777/SuperNET and you can see that I have been quite busy over the years. docs.supernet.org documents the API crypto777: this is an ongoing technology revenue asset and as soon as project start generating revenues, it will too. It basically represents revenues from the technology that I do that doesnt already have an asset to encapsulate its revenues. In some sense it is done, just that the revenue streams are flowing yet. Maybe this is in an in-between state, but there was no ICO per se for this, so not sure if you have an issue with it. Now to the real unfinished projects list, however please note that there was NO ICO for these and it was funded by small number of private investors, so I dont think it is fair for you to criticize them as an incomplete ICO, as they were not even ICO: InstantDEX: easyDEX is in last stages of coding/debugging and is part of the overall solution of loosely coupled blockchains using atomic swaps. The full InstantDEX was mostly working last year(!) however due to disappearance of GUI dev combine with NXT increasing txfees dramatically while reducing the available space to store data, made an InstantDEX built on NXT uneconomic. Should InstantDEX have been finished by now? Yes. I made a mistake of building the InstantDEX on top of NXT, which is a platform that I had no voice in and when everything was changed and made it so a few of my projects became unviable, my protests were met with a "you should have known better". OK, so lesson learned and now I know better, I wrote iguana from scratch so its entirety I am in control. Never again will I be at the mercy of arbitrary changes that break backward compatibility and the fundamental economic model of a service I built on top of it. Pangea: this is a decentralized poker service that is in a holding pattern now due to the retooling required to switch from a NXT based service to iguana based. Tradebots/NXTcoinsco: part of this is in the process of being completed within the easyDEX framework, but again the shift from NXT based to iguana based was a delay factor. NXTprivacy: this is mostly a deprecated asset due to my shift from NXT to iguana, but I do have a plan to infuse some life to it after the dust settles from the other projects. In any case it never did any ICO and didnt even do much of secondary trading on NXT AE, so its priority has been low. Do you want me to list the projects that I didnt even raise funds from private investors and are just various technology projects that I have percolating? Not sure why you would have any complaints if I have a lot of projects in the research phase that I have not raised funds for. I proposed an Asset Passport system, which is a way to protect asset issuer and holders by allowing them to migrate from chain to chain. This was actually the genesis of dPoW which evolved from the need to secure weak PoS chains. I never raised any funds for this. I have proposed Teleport, Telepathy and PAX within the BTCD context, but I did not do any ICO to raise funds to develop this. Teleport at a high level is similar to zcash, in that there is a blackbox of bits representing the transaction, but the math behind the zero knowledge proofs is a step above anything else and I always want to use the best tech solution for my systems, even if it means replacing something I made. Telepathy is a network level privacy "mixer" and this will work on top of the komodo, of course it needs for komodo to be finalized and also its urgency is much less due to the strength of zcash tech. PAX has been coded to alpha level, but as an unfunded project has been back burnered and also waits for the full transition to iguana. Is it is disappointing that these things have not been completed yet? Sure, but I am just one guy coding away most days and many have advised me to get more help at the core level. The issue is I cant find any other C coders at my level who will work for anything less than a lot of money. I am also providing free consulting for many projects, they just have to ask and I try to help as I can, which is usually with some technical ideas. I am not the one actually doing these projects though, so I hope you do not hold me responsible for any delivery status of all the projects I have helped with my advice. I understand if you see all these projects and there isnt the level of success you want to see. After all if it was all finished and a big success I wouldnt have to be working these 14 hour days 28 days a month, continuously. However, the perception that I never finish everything is not correct. The perception that I do dozens of ICOs and just spend all the money and ask for more, is not correct. I have done exactly one ICO outside of the NXT assets, and that is SuperNET. Its charter for use of funds is primarily to make investments and I have been funding operations from the profits, while growing the NAV from a low of .002 to its current .006 level. If you can name any other ICO I conducted where funds were raised and I havent delivered anything, I am curious to know what it is. As you can see I am not limited in the number of ideas, nor do I feel their quality is low. What I need is more resources. I had hoped to get at least half a dozen volunteers to work on the core C projects, but alas, there were none. With komodo there is the possibility of creating not only the first dPoW implementation, but also to fund all of the pending projects that are in slow motion due to my only having 16 hours per day to work and I am slacking off this year by working only 14 hours per day. James In a follow up:
CryptoCard is completed, coinomat issued debit cards
Teleport - this is not any asset, how is it possible that an ICO was done for something without even an asset
Telepathy - this is not any asset, how is it possible that an ICO was done for something without even an asset
PAX - this is not any asset, how is it possible that an ICO was done for something without even an asset
Pangea
Neodice
Jay
SkyNET
above are all other dev's projects that SuperNET invested in and gave out dividends in. After it was given as a dividend it started trading in the open market. Please tell me where in this picture SuperNET or I am making an ICO to collect lots of money?
NXTprivacy was done as above, ie free dividend and after market trading by the people who received the assets.
which leaves InstantDEX, crypto777 and SuperNET
InstantDEX had private investors and then like the above assets was dividended out to SuperNET asset holders.
SuperNET, we know that its NAV is mostly preserved over the years as the technology has been developed: supernet.org/nav.php
Most of the projects SuperNET develops are not isolated, but they are part of the overall solution that will solve major problems crypto has. It's not possible to complete one piece 100%, and then move to the next one.
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)
At the end all the hard work will pay off, as the working products will begin to pop up like mushrooms after rain. The progress has been invisible to some because they don't follow close enough. When someone develops something of this scale, the exact path of how to get there is not known. Now we became to a crossroad, which we couldn't see before, and it looks like "Komodo" is the route we should take. |
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The technlogy SuperNET is developing is not fictional, it is not an empty promise. It is here! Verify the progress yourself!
github.com/jl777/SuperNET docs.supernet.org (a list of iguana API) SuperNET Slack channel #Iguana - Iguana is functioning at the command line level - There is a team developing HTML/JS GUI (they post updates to #Iguana channel) - Both the iguana core and GUI are open source - Soon there will be installers, and a first release Komodo ICO will bring more funds that are necessary to remove all the obstacles there are before we can get a mainstream adoption. But that is a long term plan. With the short term, there are at least: 1) Iguana release 2) anonymous transactions 3) dPoW We are working really hard to have the first Iguana release before the ICO starts. During ICO there will be a working dPoW in testnet. Finally, very soon after the ICO ends, we will get anonymous transactions. What James has done during the past has not been a simple task. He has solved extremely hard problems. Here is what he just said about Iguana: Took me 9 months to write iguana, the first multicoin parallel syncing bitcoin protocol daemon, including RPC, that compiles to 2MB. Is that slow? Not sure, but I know if I tried to find someone to do that, they would ask to fund a full dev team for at least that long. People dont realize the scale and difficulty of creating working backward compatible improvements to the state of art.
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