yes

With the 1 year conversion right, which in and of itself has value, the appropriate price for BTCD would be the black and scholes options valuation of a 1 year call option with a strike price of 0.

It becomes like a warrant or a deep in the money long term call option.

Since BTCD can be converted to komodo, the komodo price will determine the BTCD price, but not the other way around as nobody is forced to sell their komodo at the BTCD price (put option).

It is a financial diode, only flows in one direction

zcash zkp replaces telepods as it is better tech.

teleport is network level and it is what is evolved into notary nodes.

Also, after initial release it will be possible to add an IP level mixing to shield IP addresses within a closed system, ie no exit nodes to worry about. With telepods, the teleport level protection would have been very critical, but with zkp tech the importance is less, so while it is a nice enhancement, the DEX to me is a higher priority

Ideally we can recruit half a dozen high caliber C devs for continued enhancement of the tech, along with a similar number of GUI devs. We probably dont need quite so many and this is the high end scenario.

2 weeks after the end of ICO is still 3 months away and I expect that we will be able to hire a couple of devs to help me, but even without additional help I expect to be able to complete the dPoW in time.

The zcash devs are not very likely to be doing any funny business and I think their mechanism to create the parameters requires only one participant to be honest to avoid the problem. Also, the process to create these parameters has been quite carefully thought through:

http://diyhpl.us/~bryan/papers2/bitcoin/snarks/Secure%20sampling%20of%20public%20parameters%20for%20succinct%20zero%20knowledge%20proofs.pdf

If you read the paper you will quickly realize the highest caliber mathematics that permeates the entire zcash project. Considering the level of scrutiny and care that will be used to create the zcash parameters, I do not see being able to do any better (or come close).

I have confirmed that zcash forks will be able to use the same parameters as zcash and that is the plan. The alternative is to generate our own parameters but that will create a set of issues that even if solved, it wont create any better set of parameters. It is simpler to use the same parameters.

James

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

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

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

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

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

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

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

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

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

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

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

So we are making the GUI and installers

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

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

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

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

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

Nothing is as secure as bitcoin PoW.

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

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

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

ramchains are used in both MGW and iguana. MGW in service for over a year, iguana is in beta test. my assessment is that zcash zkp is better than teleport/telepod so I choose the better tech to use and replace the older tech. telepathy networking tech is what has evolved into notary nodes.

There will be a testnet for the ICO, so everyone can verify that it is working.

docs.supernet.org documents the API bindings, which is something that can be verified using curl (syntax provided). Do you consider having a working API as "hype"?

As long as we all understand you are FUD'ing for your own purpose, have fun. Just lets try to remain civil. Thanks

There is no abandoning going on. There is the ability to swap BTCD for komodo. That is not abandonment no matter how you want to spin it.

I am working on a transition plan for NXTventure. It has value as it has holdings.

By "completed"/"finished" I mean it was working as it was intended to, it wasnt incomplete

Waves wasnt mentioned. Neither was IOTA. Neither was Stratis. Neither was HEAT

SuperNET owns significant stakes in all four of those projects:

http://www.supernet.org/nav.php

I didnt mention these projects in the komodo ICO as it doesnt relate to them and being invested in a project, giving advice to it, is different than conducting an offering.

Strange...

https://github.com/zcash/zips/blob/master/protocol/protocol.pdf

There seems to be  a lot of math proofs and a lot of research and a protocol specification.

What part of this doesnt meet your high standards?

Also, zcash appears to be 9% of the most cited research in this field: http://saweis.net/posts/most-cited-security-papers-2013-2014.html

Thanks!

I am glad somebody noticed dPoW is a brand new consensus mechanism that provides bitcoin security to all other dPoW chains.

The block rewards for nodes including txfees are expected to pay for costs after the initial startup period.

So it is a cost upfront that should eventually be self-sustaining. Changing parameters can be done to reduce costs, so the 500 btc/yr is for the high end scenarios where it represents around 2% of capital

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.

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

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.

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