over 50BTC was purchased at the firesale prices, so it does seem the market picked it up. Now it is relatively low volume left as 8 BTC pushes the price to 4500 sats and 60 BTC would push it to 5500 sats.

So it seems the large investors dont bother with small amounts, but wait for the large amounts.

unless you count the 32 pax coins as 32 coins and the 10 assetchains, then the total goes up a bit. komodod can spawn a new coin from the command line, so in a sense I  have created an unlimited number of coins.

this is to solve the scalability issue by using existing infrastructure. if you need 100x capacity, just make 100 chains

komodo is unusual in that it doesnt require an intermediate token for assets. That means that asset transactions are paying txfees in itself. It also means that the assetchain controls its own destiny and is not slave to some master chain.

It also has the effect of being scalable to an arbitrary degree as there is no direct dependence on any other blockchain.

However, there is a limit to the number of built in chains that the KMD notary nodes can dPoW. We are already above 40 assetchains. There is a provision for each assetchain to be able to designate their own set of notary nodes for dPoW

REVS will have its own blockchain, same as all the other assetchains.

"that pretty much all the current candidates will get elected as notary nodes"

but not 100%, so who will arbitrarily determine which contested slots are assigned to which notary nodes? We need to have all the notary nodes determined, so if even a single region is contested, we need to have elections.

Now, if there are no contested spots anywhere, we can just short circuit the election process, but I do not believe that is the case, especially in EU region.

As some context, during some testnet ratification tests, some existing nodes were dropped and the outcry was quite loud. That was for testnet.

it does look like quite a bullish pattern in terms of USD.

considering BTC is up to $1000+ from a low below $200 and BTCD price in BTC is still close to historical average is quite a strong sign.

While we all (myself included) patiently wait for the snapshot, elections, swap to begin, the komodod has reached a point of feature complete and in the validation stage. With the dPoW, assetchains, pax and DEX features it is quite a list to complete, but I am optimistic it will be achieved before the end of elections.

I am now coding LP node features, which are not a komodod hardfork even if it needs to be changed, so out of the territory that would incur delays for mainnet.

Which means I seem to be out of the critical path and am able to reduce my hours from the 16 hours per day * 7 days per week marathon in 2017. It has been a long stretch of nonstop coding and there is still work to be done, but the overall solution is in place and further work is about enhancing the basic system.

This reduction of reliance on me is a good thing, both for me and for komodo and SuperNET. After mainnet release, I might even take a short vacation.

If you want to track our usage of ICO funds, just follow the ICO BTC address. So far we have withdrawn a bit more than 60 BTC for monthly expenses. Our monthly expenses will be higher at first due to the development costs that are frontloaded and also without a KMD market, we need to spend the BTC instead of using KMD or pax fiat. As we get a KMD market, the pressure on our BTC expenditures will lessen as most of our expenses are denominated in fiat and if we can use pax fiat for that, it wont consume BTC.

I have no problems disclosing the amount of BB we received as I assume it is automatically calculated and would take little effort. You can probably just look it up on the byteball site.

However, to setup some special accounting process with dedicated accounts, etc. to report on the disposition of ~4 BTC worth of BB seems like a lot of effort over a very small amount. My estimate was BB is worth ~10BTC, if WAVES did sell theirs for 35BTC, it is closer to 4BTC.

It is a matter of resource allocation not lack of transparency. You can all see the ICO address to verify the vast majority of funds are still there, we maintain a frugal attitude towards the funds.

There are a few assumptions here that I am not sure are correct.

First of all, the assumption that it wont cost anything to distribute the BB is incorrect as I am not aware of any built in BB dividend function that can take a snapshot of KMD balance and allocate some amount of BB to it

which means somebody would have to code this. there arent exactly a long line of volunteers who are prepared to create a production usable BB dividend mechanism.

which means it would take time and cost money and also necessarily delay core komodo functionality as it is likely that the staffing needed to do this are already on critical paths. So there would definitely be direct costs and an indeterminate amount of indefinite costs.

Now, I am not sure what market value the KMD's BB stake will be worth. If the value of the BB is 10 to 50 BTC, then after netting out the cost for running the dividend, there wont be that much left over, ie 10 BTC / 100 million -> 10 satoshis per KMD.

So for every 10 BTC of BB value, it is a whopping extra 10 satoshis per KMD. To put this into perspective, if you have 10 million KMD, it will be worth 1 BTC. If you have 1 BTC worth of KMD, it will be worth about .001 BTC

Now, whatever value the BB has it will go toward enhancing KMD, so investors are getting value from it. Based on my estimates the costs for doing the distribution will be in the same order as the value. The only way I would do it is if I had promised that I would and it was an obligation to do so. However, I said that we had to raise the higher end of the ICO for us to do the BB distribution.

What we raised was not sufficient to qualify as the higher end of ICO and we have already had to reduce the notary node subsidies due to this. So it is not like we are swimming in so much money that we can take time and effort away from the main KMD work, to send out money that we would have been be able to use.

Anyway, this question has been asked and answered. Events turned out to not trigger any BB dividend. There are costs associated with doing a dividend and even if I didnt already say that I wouldnt do it, given the current information I have, I still wouldnt do it.

My obligation is to the KMD investors, which means increasing the value of KMD and not spending time and effort distributing out funds that we could very well use in future years. Also, what many seem to forget/ignore is that I stated what conditions were needed to trigger the BB distribution DURING the ICO. To me, that means that people invested in the ICO with the assumption that I would do what I said. If I change that, then it breaks trust with the investors.

Please do not ask me to break trust with the investors. I simply cannot consider it.

I submitted a first draft on pax whitepaper, but not sure its status

sendrawtransaction bobdeposit.(d718cb497827841a7fd775d7c0e10c7c0125c12b789fc750a8e84477c553a3ba)

sendrawtransaction bobpayment.(5cadd2cc494e70192acef947bfa7aa570ed23b4f3baa686c5b83e5f5f6a570cf)

sendrawtransaction bobspend.(35b3cda4509a6f81584d9fe638d288898e3d2fc801dc298497be404c46f121eb)

sendrawtransaction bobrefund.(329d8ba52d25bf4bcd46d47b976d85bfcbba4feafdc91194900228ff08561de4)

sendrawtransaction alicespend.(aa82ebd1c5bd2a9e19214cbc959df1745378676fddfd6f4903930ac16485c7ae)

tl:dr yes, above is BTC <-> KMD atomic cross chain swap

It uses notary nodes for the ordebook/bulletin board.still many combinations to validate and LP configuration to expand, but the hard part is now working in at least the mainstream case

./komodod -ac_name=YOURTOKEN -ac_supply=1000000 -gen
./komodod -ac_name=YOURTOKEN -ac_supply=1000000

do the above command line on two different nodes. The -gen node will mine 100 blocks. At that point, the blocks are on-demand so if no tx, then no blocks. You will be able to DEX YOURTOKEN based on the YOURTOKEN name.

We will need to have some way to resolve name collisions, but if the ac_name and ac_supply are the same, it is the same chain.


the above command line autogenerates genesis, etc. and issues 1 million YOURTOKEN coins. it is zero-knowledge enabled. however the fiat pegging is limited to the pax fiat chains. It requires a decentralized gateway and notary nodes, so not something that can be a standalone assetchain

pax is a decentralized fiat equivalent, there is no third party needed. In fact, there isnt even a second party for KMD <-> pax fiat. you do those with paxdeposit and paxredeem API calls.

as far as converting to real fiat, we need to stay away from directly doing that. just use localbitcoins to convert BTC <-> real fiat.

the DEX can trade pax fiat <-> pax fiat, creating a decentralized forex

and of course KMD <-> BTC can be done with liquidity enhanced DEX using LP nodes <-> central exchanges. Only the LP nodes are directly interacting with the central exchanges. Our DEX is not a token based DEX, that is tech we pioneered 2 years ago using NXT AE + MGW, but now it is time for native DEX. Our DEX is a native DEX where there is no intermediate token needed.

New blockchains can be created from the ./komodod command line and these are all zcash forks which plug right into the native DEX. Optionally dPoW can be enabled for them with agreements from notary nodes.

I think most have missed the fact that this native DEX based ecosystem already solves the scaling problem as overall capacity can be increased just by spawning new blockchains. native DEX can then allow tokens to flow between the chains based on market price or 1:1 pegs or pricefeeds. The advantage to this loosely coupled blockchains are that if any single chain goes DOA, only that chain is directly affected. It wont drag the entire ecosystem down.

Privacy via zcash
Security via bitcoin (dPoW)
Liquidity via native DEX + LP (liquidity provider) nodes <-> central exchanges
Price stability via pax fiat equivalents
Scalability via assetchains
Smart chain capability - requires customized assetchains, pax is an example

Did I miss a mass market requirement? Oh, yes. easy to use GUI and installer.

The way the ICO fund raising was front loaded due to the biggest bonuses, most of the funds came in when KMD was perceived as zcash clone + dPoW. So, even as more and more of the tech roadmap was revealed and deployed in the testnet, the pricing was mostly set.

Now, is a crypto ecosystem that solves all the mass marketability requirements worth closer to $10 mil or $100 mil marketcap? That is the question that the market will answer as the testnet becomes the mainchain and KMD is distributed and trading starts.

Even after all the above is released, we do still need a few actual reference implementations of a mass market dapp. I will be porting the pangea decentralized poker into KMD next year. Since all the assetchains are based on the komodo codebase, which originated with bitcoin codebase, any bitcoin fork developer (almost all altcoins) can create customized smart chains by using the komodo codebase.

It is a liquidity issue. for small amounts, you are correct.
however, try to buy 500 BTC worth of BTCD and see where the price ends up. probably 4x current price levels and certainly not any better price at all.

there is about 50 BTC of BTCD below the 0% bonus price. That is approx 2% of ICO volumes, so to equate the BTCD converted price as a substitute of ICO investment ignores the lack of liquidity.

That being said 50 BTC is a significant amount for any single person, who can get an effective bonus in the open market.

everyone with KMD
the ICO site is being updated to support voting

The notary nodes are a very important part of the komodo ecosystem.

This thread is the best place for the notary operators to reach the komodo investors.

I think it is best to continue to learn about notaries in this thread. In any case it is an unmoderated thread, so its not like we can stop them.

you might have heard about the xmr html GUI having a security flaw that allowed an attacker to do any RPC command if the user went to a site with some special code.

Since iguana GUI is html based, this concerned me and I started investigating. linked up with ca333 who knows a ton about this sort of thing. What I learned was that in html space things are quite dangerous. For the convenience you have a much much much bigger attack surface.

Needless to say we had to improve the security for iguana GUI (if you are using any HTML based GUI it is advisable to make sure it is as secure as required). We finally figured out how to make the iguana html GUI as secure as a QT wallet. It did require some major additions to the baseline, but when security of your money is at stake, then we do what we have to do.

I just released the enhancements needed to the iguana core, so shortly the GUI will be able to utilize it and we can get an html wallet that is both easy to install/use and secure.

Now if your computer is infected with a keylogger or something like that, there isnt much that anything can do, even though with our approach it is somewhat resistant to keylogger. however a keylogger would open a different attack vector which might or might not be prevented based on usage. So, your system must be clean of keyloggers and such malware. In that case even if you browse to an injection attack site you will be protected. Generally speaking, best to not be browing to random sites when using an html wallet. However, if a banner ad leads to a page with injection codes...

The komodod side is in the final stretch. I rebased to the zcash bugfix version that improves performance and fixes some important protected mode bugs.

lots of progress on the assetchains, with over 40 chains now part of the komodo family. just a few more things to validate and I am actually now coding the DEX layer which will be a layer on top of the komodod and iguana core, so it is a nice flexible layer that will be relatively smooth to deploy, ie. just run it as a dapp

I thank everybody for their patience and maturity as we make improvements to the ICO site to accomodate BTCD holders. I know BTC peoples dont really care about such things, but please know that the tech is in the finalization process and this time is needed to get rid of the final showstopper issues.

I would say that a potential security breach via injection websites is pretty important to fix!

Assuming we can get the final two pax functionalities validated, we can mainnet with pax enabled. A fallback release would disable pax for the initial release and we would need to hardfork to enable it. Since the GUI for pax is not yet, it might not be a big deal either way. Personally I prefer to get all the hardforks out of the way while it is in "testnet" status.

In the next weeks you will see a lot of campaigning from the notary nodes operators and this shows that komodo is unique with a community responsive set of notary operators, instead of miners that are just silently mining. The proactive notary operators can and will bring in marketing for komodo in addition to helping expand the overall reach of komodo. Few people really understand the full scope of what komodo can do and the notary node operators are most of this few.

9BTC is not a large volume, so it needs to be put in perspective.
if you are trading out of positions that drop 6% in value when BTC is up 4%, then it is likely you will get whipsawed out of most positions.

prices go up, they go down

which means at any given time the price is likely not exactly at its value. anyway, this is offtopic here, entire field of price analysis exists

another way to tell that it isnt a dump is to see how much BTC it takes to recover the price. It seems that with 2BTC of purchase all of the price drop is recovered and then some.

That is why I say a 9BTC and 6% drop is not a dump, a dump would require more BTC to get back to where you started from as the entire pricing landscape is shifted down

when BTC rises sharply, all alts lose ground. just look at all the other coins.
compared to the average BTCD is doing a bit better

Also, I wouldnt call a 9BTC for 6% drop a "big dump"

through the ICO and after, BTCD has held fairly steady its price, as BTC is rising sharply. Not sure how many other coins have held up as well. Just look at any of the other top coins

We have delayed things a bit to accomodate a way to go from BTCD on an exchange into the ICO site. Then we can snapshot for the REVS and after that convert to KMD, vote, and distribute out the KMD.

Not sure if we will be able to support distributing the KMD to an exchange address, so far nobody has asked for it

That is not my asset, so i dont see why I would. But if other NXT asset issuers want to migrate to their own assetchain, I can certainly help them with the transition.