There looks to be a problem validating signed ethereum messages on www.ub.com site, I keep getting errors using a signature from https://www.myetherwallet.com/signmsg.html

You might want your tech people to check your end to make sure it's validating correctly

@EK, the problem is numbers, there were always dickheads in crypto, and proportionately maybe slightly more now, but the problem is the size of the crypto community has grown, and the dickheads are always louder, so they stick out more as numbers increase.

If you go to a party with 10 people and one person is obnoxious it's probably going to be ok, if there are 10 wankers at a party of 100 people the proportion is the same, but the vibe will be a lot worse (the other 90 people get drowned out). If there are 100 dickheads in a room of 1000 people you'll probably get assaulted  and spat on. 1000 pricks in a town of 10000 - that's literally a war zone, people getting raped and mugged in broad daylight.

My advice is do what you said above, finish the work you started and do a Satoshi, come back with a new identity as a regular community member, don't be the front man anymore.

No way, Bitconnect had great marketing, but agreed, ARDR needs a guy like Carlos, that dude has so much charisma, he's one of the few crypto superstar personalities now.

Is he available?

Good advice, thanks! You are correct, the ŕeward for vigilance is avoiding elections all together, and that incentive should ensure high quality notaries. Personally I would make the bottom 40-45 nodes face election every year, that way the reward is harder to get, and the incentive to achieve  excellence to avoid paying for votes is even higher, plus the spill over effect onto KMD value from what amounts to a participation dividend for bothering to vote would be larger, which should not be under estimated.

this system has some powerful incentives now, quite beautiful, satoshi would be impressed!

I predict we'll go over 25 USD later this year myself, so around 10k per month by Xmas this year.

Payout ratio is where the majority of competition will be, plus who has good profile. If KMD's version of andreas antonopolous ran a node he'd get elected with zero payout to voters, but for less visible guys we can only go by what they offer.

This election will be cool, getting popcorn ready

Edit, I decided not to run this year, will try and bone up on Linux and think about 2019

the '~' symbol means approximately bro, obviously if an operator falls asleep for a week and his node dies he'll earn less, but the system jl777 designed means every notary should earn "approx 1500 KMD" per month from here on, otherwise they wont get voted in a second time. Notary vigilance is definitely important at the margins, but it's not enough to give any one notary a significant advantage. I'm assuming the potential rewards from here on will mean the vast majority of nodes will have similar specs and be managed pretty well, and the pools will punish operators who run unreliable nodes. Too much money on the table now!

Some interesting game theory ahead, best strategy will be to spread votes around to even out the payouts.

Is the election first past the post, or preferential?

If most candidates offer VOTER payouts the system of voting is important to know. If the system is 'first past the post', then VOTERS of most popular candidates will get a smaller payout for their VOTE.

E.g. assume results of election result something like this,

1. 6.50%
2. 5.85%
3. 4.95%
.
.
.
28. 1.10%
29. 0.95%
30. 0.50%

All 30 notaries still get ~1500 KMD per month, and obviously the best payout will be for notary 30. who divides his profit only for 0.5% of KMD, whereas position 1. shares his profit with a much bigger VOTER base of 6.50%.

Best payout will be for the bottom candidates who just scrape over the line, not the top guy with excess VOTES above a quota.

Preferential voting system would mean every candidate basically gets the similar sized VOTES.

Are we able to rent out our veri coins yet?

please, provide an answer to this question

Fair point!

DYOR, not sure if it's possible to determine who voted for whom last time, if there are leeches they'll only survive if their node stays in the top 30. A smart node manager might make sure their node drops to the bottom 30 next election, so they have to campaign again.

The real power lies firstly with the KMD holders, and secondly with the skilled guys who can run nodes, so chances are those two groups work together to remove leeches.

It shouldn't be personal though, those guys were following jl777 in the early adopter phase, they supported the project and who can blame them for getting elected when we all had the chance but it obviously can't last forever.

Pro tip: If you're running a node for a non-whale who's paying you fees ... you can negotiate a better deal, he needs you more than you need him lol

Someone who got elected last year using mostly votes from other KMD holders, who pays someone to manage their notary, and who doesn't contribute much to the community.

@10USD those people are earning 150K USD a year (less fees) for doing very little, risking very little, and contributing very little.

I don't under estimate the work involved, these notaries will generate a lot of wealth over the next few years, it's mind boggling really, and that's cool, I find it all fascinating to watch unfold. I get my 5% per year too, so all good

I really can't see unworthy people lasting too long, the top 30 spots must coĺlectively control a huge amount of KMD between them, and as they don't have to get elected again this time but still have a vote, I suppose some of them could conceivably run again this time and get elected for more nodes, which is fine by me, as it's proof of stake based, and those people obviously want to see kmd succeed.

afaik notaries aren't critical for preventing security problems like dble spending, so concentration of notaries isn't so much of a worry like with bitcoin. As long as notaries are selected by stake and merit, nobody can really complain.

Any early adopter 'Leeches' will get wiped out by pools, or other early adopter whales, or new whales.

I don't begrudge early adopters getting rewarded for joining crypto projects before they took off (but I do feel envious). You used your time wisely to stay informed about what was going on in the early stages, and you had good community reputation to get elected, but I disagree that you actually took on much 'risk'. That's not to say you don't have a large stake in kmd too, but unless you're a mega whale who got in on your own votes only, your risk was only proportional to your personal stake, e.g if 10% of your vote quota came from yourself, then your 'stake' risk was 10%, and the other 90% stake risk came from those who voted for you.

It's nobodies business what your stake is, and maybe your personal vote did put you over the line, but your personal 'risk' was only proportional to your own stake.

I see a big difference with other coins like DASH or STRATIS that have similar monopoly restrictions on masternodes etc, as in those cases to get a privileged node with extra earning potential you need to upfront a lot of coins, well over 1mil USD now for STRATIS. I see a clear difference in the risk/reward calculation for KMD and those other coins, and for other PoS coins where earnings are 100% correlated with the size of your stake.

I actually think the KMD system is better than those other coins, because it gives active people with no funds a chance to get involved - convert enthisiasm, time, talent - into coins. You can't do that in other communities, but you can in Komodo, and looks like that might be what you did so far. Other guys maybe not, possible a few guys slipped through last election who do very little for komodo, but still get a great risk free monthly bonus, especially the ones paying other guys to run their nodes. Hopefully the election process reveals who those guys are (if they exist), and the community votes them out in favor of productive people and/or spreads the profits to KMD holders through pools.




I'll definitely consider running, but I'm not a linux user, so would have to hire someone now, have the node up and running in case I won, and then get elected. There's some significant risk there for a small player like me, the node cost is certain, but getting elected is definitely not. If it was possible to get elected, and then have a grace period to organise the node then yes, I will run, but if not, then I will hope to join a pool with my KMD. I do like the idea that some notary profits should go to KMD holders, that would add dividends to the KMD mix, and that would increase value of KMD.

Oh, I agree 100%, play the ball, this should not get into personal atracks. We are all free to run in the election, it's a good system, time will weed out the leeches so eventually all notary profits will go either to people doing good work for Komodo, or based on some hybrid form of PoS pools like P-Trump is arguing for.

It's good that your using some of your notary profit to help komodo, but I think there are many guys with no tech skills who would like to take your place, I'm one of them!

1500 KMD @ 3.90 = 5850 USD at todays prices, and this is AFTER recent crash .... and another guy does the work. Even if you paid that guy 2K USD a month, you're making ~1000 USD a week - who reading wouldn't want this deal? No risk, no stake, no (compulsory) work.

Don't misunderstand me, I'm jealous as hell, and think guys like you have a target on your back in this election ... I want what you have bro

I hope vote is the real deal, things are looking good, but who knows until we see the client for ourselves.

Hope vote gets on BarterDEX decentralised exchange, the dev should consider contacting jl777

Any news on the march airdrop, I could really do with some good news!

Yep, I'm a minow mysèlf, and I experience plenty of angst and envy in the cryptpsphere nearly everyday, but pools are a way to reduce the barriers, that's why I think they're both inevitable, and a good thing. I'll give you an example I came across recently from another coin Stellar XLM.

XLM has 1% inflation built into their distribution, but only accounts with a ridiculously high number of 'votes' have been allowed to claim the 1%, which is shared betwèen claiming accounts weekly. We're talking massive vote counts, like 0.05% of total supply which is currently about 60 mil XLM, which normal people obviously don't have.

Then an unknown guy in China setup a pool, but he took a 10% commission, so after a while people got pissed off and thought he was gauging too much, and then other guys setup a community pool based off donations, so now small guys like me can share the 1% weekly inflation payout. The point is the XLM devs wanted the 1% inflation, but they didn't prescribe how it would work, just that only accounts with millions of votes would get it. I think the same thing will happen with Komodo notaries, the community will work it out.

https://www.stellar.org/developers/guides/concepts/inflation.html

@ComputerGenie, you should direct your angst at these guys, if they exist. Are there guys operating notaries with small stakes, who just pay another guy to do the work? That's a gravy train!