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101  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KMD][dPoW] Komodo ICO - Zcash Zero Knowledge Privacy Secured by Bitcoin on: December 31, 2016, 09:33:26 PM
I had the same thought about byteball, if Komodo can't run itself on the bitcoin that we all put up for this project, then it should have refunded every one of us and said "sorry guys, we can't make this thing fly". It shouldn't have to rely on the byteballs. Giving them back to the komodo investors would have been an awesome loyalty move that has been missed. Now a lot of Komodo investors are (rightly or wrongly) thinking "f*ck you komodo, can't wait to dump my tokens as soon as I can.

Let's not forget the yes, nodes are expensive but btc has just taken a huge hike in value. JL777 is no fool when it comes to crypto trading and I assume he's moving them about for optimum profit and to maximise the budget.

I just think the BB cost nothing so wouldn't cost anything to give them away.

I write this as someone who linked a large amount of btc to the BB project so I'm holding long term. I'm not writing this as someone who missed out on that unique project.

I'm not expecting this post to be addressed by the team as it's been dealt with previously, I just wanted to express my thoughts on the matter.

 
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.



Fair points raised jl777. I'd just like to mention that I have no intention of selling my komodo, I just feel many might use the BB objection to do just that.

I see WAVES sold their truck load of BBs for 35btc. Considering the amount they received, that price seems way too cheap. I sold 200GB for 4BTC so maybe they think BB will crash and burn. Anyhow, for the aid of transparency, would the komodo dev team let the community know how many BB they received and keep us updated when they choose to sell and the amount of BTC received and what line items receive the revenue?
102  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 31, 2016, 09:25:50 PM
Where can I buy BB?

You can buy them from max or sasha?
Who is sasha or maxx because I'd like to buy some please.

Sascha form waves and max from lisk

Oh no he'd like to buy some even knowing how much they own. Shoot them a pm I'm sure they'd love to sell you some of their worthless coins/tokens Cheesy


Sasha from waves has no byteballs left to sell, he sold all he had for 35 BTC. Sasha can't sell his byteballs twice, he's dumped them already.


Quote from: Sasha link=https://wavesplatform.slack.com/archives/general/p1482999414008654
We managed to make 35 BTC with byteballs, will be distributed as BTC token to WCT holders, it'll happen after the holidays

Price seems stabilized and point to the upside at cryptox.pl. Once the selling is done, the price will go much higher as this coin has a great development team, did a lot great work, and it has great features.
Indeed, even the complainers about unfair distribution are probably only complaining because THEY didnt get more bytes!

This technology, and the development team behind it, can easily push this byteball to be worth 10BTC per 10megabytes, even when 1btc is above $1000. But by that point bitcoin wont be relevant as currenct, only as tool for settlement between fiat currency banking.

I still find it amazing that the 'development team' is essentially Tony.

I don't see how anyone can complain about the unfair distribution, it worked just great! I am officially a BB Billionaire for what it's worth Smiley I don't see it getting to the above price estimation of 1btc per GB but hope i'm proved wrong as I can retire in that scenario.

Would love to see Polo start trading BB and BBB, the sack channel has been good but there are so many shit coins listed on Polo, it would be nice to add this project to their portfolio and kick a few off at the same time.
103  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 31, 2016, 09:19:25 PM
its always funny, how newbie accounts popping up, if they missed a chance! :-D

Happy New Year 2017.

Greetz
Steve

Any project that brings new people to crypto is a good thing. Considering the method of distribution for BB, there has been good word of mouth marketing as a result  Cheesy
104  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][KMD][dPoW] Komodo ICO - Zcash Zero Knowledge Privacy Secured by Bitcoin on: December 29, 2016, 08:33:36 AM
I had the same thought about byteball, if Komodo can't run itself on the bitcoin that we all put up for this project, then it should have refunded every one of us and said "sorry guys, we can't make this thing fly". It shouldn't have to rely on the byteballs. Giving them back to the komodo investors would have been an awesome loyalty move that has been missed. Now a lot of Komodo investors are (rightly or wrongly) thinking "f*ck you komodo, can't wait to dump my tokens as soon as I can.

Let's not forget the yes, nodes are expensive but btc has just taken a huge hike in value. JL777 is no fool when it comes to crypto trading and I assume he's moving them about for optimum profit and to maximise the budget.

I just think the BB cost nothing so wouldn't cost anything to give them away.

I write this as someone who linked a large amount of btc to the BB project so I'm holding long term. I'm not writing this as someone who missed out on that unique project.

I'm not expecting this post to be addressed by the team as it's been dealt with previously, I just wanted to express my thoughts on the matter.

 
105  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 29, 2016, 08:22:23 AM
I can run Bitcoin through Tor - does it make Bitcoin anonymous payment system? If that's really the case that you have to run Byteball throught Tor to make blackball anonymous it should be clarified. There's not a single word about it in the whitepaper.

Byteball whitepaper says nothing about being anonymous payment system. It allows private transactions. Privacy and anonymity are two different things.


Well quoted. Having byteball run through TOR is an unexpected bonus I guess.

Other question. Transition bot is asleep by the look of it. As next round is mid Feb, am I to assume that my linked wallet from the first round will behave for the second round if I don't deposit/withdraw?
106  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 28, 2016, 04:30:29 AM
Agreed, a decent VPN won't cut it. Burner phone... Meh. TOR ready baked in to TAILS = ADOPTION. Tony, can you comment?
107  Alternate cryptocurrencies / Announcements (Altcoins) / Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments on: December 27, 2016, 09:42:31 PM
Agreed. Encrypted messaging and transfer of value anonymously as byteball's best chance of success. It does those two very well
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