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Author Topic: [ANN][KMD][dPoW] Komodo - Zcash Zero Knowledge Privacy Secured by Bitcoin  (Read 708706 times)
Peanutbutterpolka
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June 19, 2017, 05:39:29 PM
 #10341

Thank you jl777b I think you explained it a bit better then that other guy, jl777. [that was a joke]

I agree about polo not being needed. My account trading access was compromised late may and all value transfered out and Im left with qora. Totally polo's fault as my cpu wasnt hacked else they couldve withdrawn, my fault for trusting polo and not 2fa.

Anyway,

If I want to trade ltc to kmd using the dex, it sounds like I should be using a client node. Do I need to dl both ltc and kmd chain? Or is this something basilisk can do and I won't need to dl either?
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jl777B
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June 19, 2017, 06:10:52 PM
 #10342

Thank you jl777b I think you explained it a bit better then that other guy, jl777. [that was a joke]

I agree about polo not being needed. My account trading access was compromised late may and all value transfered out and Im left with qora. Totally polo's fault as my cpu wasnt hacked else they couldve withdrawn, my fault for trusting polo and not 2fa.

Anyway,

If I want to trade ltc to kmd using the dex, it sounds like I should be using a client node. Do I need to dl both ltc and kmd chain? Or is this something basilisk can do and I won't need to dl either?
you need native chains of anything you want to trade, however it can be pruned chains so after initial sync, it shouldnt be so heavy

I just coded the client mode forwarding, so other than the extra hops and the increased chance of a trade being incomplete, client mode should work fine.

The atomic swap protocol is able to handle either party disconnecting at any stage of the protocol, with most cases able to just pick up where it left off when reconnecting. There are a few cases where you will have to wait for a few hours to recover funds, but in most of those cases you get a 12% bonus.

For most of the trades for most of the people most of the time, after a few coin confirmations, the trade will be completed.
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June 19, 2017, 09:28:43 PM
 #10343

All of your wallets keeps crashing on both Mac and Windows  Huh

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Peanutbutterpolka
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June 20, 2017, 12:45:28 AM
 #10344

Thank you jl777b I think you explained it a bit better then that other guy, jl777. [that was a joke]

I agree about polo not being needed. My account trading access was compromised late may and all value transfered out and Im left with qora. Totally polo's fault as my cpu wasnt hacked else they couldve withdrawn, my fault for trusting polo and not 2fa.

Anyway,

If I want to trade ltc to kmd using the dex, it sounds like I should be using a client node. Do I need to dl both ltc and kmd chain? Or is this something basilisk can do and I won't need to dl either?
you need native chains of anything you want to trade, however it can be pruned chains so after initial sync, it shouldnt be so heavy

I just coded the client mode forwarding, so other than the extra hops and the increased chance of a trade being incomplete, client mode should work fine.

The atomic swap protocol is able to handle either party disconnecting at any stage of the protocol, with most cases able to just pick up where it left off when reconnecting. There are a few cases where you will have to wait for a few hours to recover funds, but in most of those cases you get a 12% bonus.

For most of the trades for most of the people most of the time, after a few coin confirmations, the trade will be completed.


And then if I don't want to have the native chains I would use the shapeshift feature that Im assuming is some smart address where I send my komodo and it deposits litecoin in my litecoin address if that is my selected trade.

That might be the easiest method come to think of it.
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June 20, 2017, 02:55:35 AM
 #10345

I saw this and wanted to share. 

http://www.ebay.com/itm/500-KOMODO-BITCOIN-digital-currency-/263029138786?hash=item3d3dc22562:g:TCoAAOSwjvJZOuxc
Coinlover87
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June 20, 2017, 07:33:34 AM
 #10346

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(
jl777B
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June 20, 2017, 07:53:19 AM
 #10347

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(
The interest is accrued every minute (starting after an hour for any utxo > 10 KMD with locktime set)

however, it can be argued that it is not there yet as the coins are only created when you spend that utxo.

So you are accruing the interest, but I am pretty sure that until you collect it, it didnt exist. I know govts like to tax everything, but I think it would be hard for them to argue that they can tax unclaimed interest. the reason is that maybe you decide you wont ever claim it (this is possible) and the max coins cap is reached and so you would never be able to.

Due to this, you should be safe from being taxed on the accrued, but not in existence interest
reffi
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June 20, 2017, 09:51:20 AM
 #10348

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(

I don't think investment tax is same as income tax, otherwise all the rich will be broke giving a way 40% of their investments, I think its about 14% tax.
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June 20, 2017, 09:58:29 AM
 #10349

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(

I don't think investment tax is same as income tax, otherwise all the rich will be broke giving a way 40% of their investments, I think its about 14% tax.

Depends on where you live, I guess? In some countries you only pay TAX over a certain amount of capital...

Try to find a website where you can calculate this. Usually the government provides a calculation tool for things like this....
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June 20, 2017, 10:36:15 AM
 #10350

any news for the snapshot for JUMBRL?
MrSunshine
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June 20, 2017, 12:23:28 PM
 #10351

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(
The interest is accrued every minute (starting after an hour for any utxo > 10 KMD with locktime set)

however, it can be argued that it is not there yet as the coins are only created when you spend that utxo.

So you are accruing the interest, but I am pretty sure that until you collect it, it didnt exist. I know govts like to tax everything, but I think it would be hard for them to argue that they can tax unclaimed interest. the reason is that maybe you decide you wont ever claim it (this is possible) and the max coins cap is reached and so you would never be able to.

Due to this, you should be safe from being taxed on the accrued, but not in existence interest

Keep in mind you must make a transaction at least once a year, or you will lose the interest. About once a week I send myself .001 KMD so the interest is added to my balance so I can compound the earnings.
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June 20, 2017, 01:35:51 PM
 #10352

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(
The interest is accrued every minute (starting after an hour for any utxo > 10 KMD with locktime set)

however, it can be argued that it is not there yet as the coins are only created when you spend that utxo.

So you are accruing the interest, but I am pretty sure that until you collect it, it didnt exist. I know govts like to tax everything, but I think it would be hard for them to argue that they can tax unclaimed interest. the reason is that maybe you decide you wont ever claim it (this is possible) and the max coins cap is reached and so you would never be able to.

Due to this, you should be safe from being taxed on the accrued, but not in existence interest
Maybe I missed past posts that explained it with same accuracy and details.
I had to understand it only after I've lost my interests.

I'd like your opinion James about my case.
Don't you think would be fair a refund of my 630 KMD of interests that Komodo GUI wallet wrongly sent to miners.
Also considering that I warned komodoPlatform and the whole community to not use a bugged version ?
https://bitcointalk.org/index.php?topic=1605144.msg19539061#msg19539061

 Cry Cry Cry Cry Cry Cry
 

Harvest 30% interest a month, come and join us at MMM together to change the world financial system!!!
MMM is a new type of investment project. Bitcoin can be used.
After registration and first investment, the participants receive a bonus in the amount of 20$ to 100$
VERY IMPORTANT!
There is no сentral account, where all the money flows to (and where it can be easily stolen from :-)). All the money is distributed between the participants themselves! On a lot of thousands and millions accounts.
I.e. the System completely belongs to people.
jl777B
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June 20, 2017, 03:00:37 PM
 #10353

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(
The interest is accrued every minute (starting after an hour for any utxo > 10 KMD with locktime set)

however, it can be argued that it is not there yet as the coins are only created when you spend that utxo.

So you are accruing the interest, but I am pretty sure that until you collect it, it didnt exist. I know govts like to tax everything, but I think it would be hard for them to argue that they can tax unclaimed interest. the reason is that maybe you decide you wont ever claim it (this is possible) and the max coins cap is reached and so you would never be able to.

Due to this, you should be safe from being taxed on the accrued, but not in existence interest

Keep in mind you must make a transaction at least once a year, or you will lose the interest. About once a week I send myself .001 KMD so the interest is added to my balance so I can compound the earnings.
This is not correct. You dont lose interest by not spending it, there is just a cap of 5% interest that can accrue to a utxo
jl777B
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June 20, 2017, 03:11:16 PM
 #10354

There seems to still be a lot of confusion about the 5% APR, there is no magic, there are just a few simple rules. Given an understanding of these rules, all questions about how interest work can be answered.

In order to be eligible for interest a transaction has to be over an hour old and the transaction needs the lockTime field set and be for 10 or more KMD.

Given a utxo that conforms to that, when it is spent, up to a maximum of 5% the value of the utxo is added to the sum of the inputs that funds the transaction. The rate is approximately 5% per year, with a bit of variance due to some rounding errors, especially with larger utxo, but on average it will be 5% per year.

That's basically it. All the nodes make the same calculation as the timestamps used to determine the duration are the lockTime field in the tx and the timestamp of the prior block. The compound interest effect is a natural byproduct of the interest being added to a payment as you then have more KMD to earn interest with. There is no special code for compounding.

Just like not spending all your inputs, anything left over goes to the miner. This is how bitcoin has always worked.

The command line komodod has been doing interest calculations properly for quite a long time now. Users that choose to not use the most reliable command line variant need to make sure all the features they need have been fully validated, especially as all the GUI are works in progress and experimental in nature.
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June 20, 2017, 03:25:16 PM
 #10355

It seems a moderator deleted the following post without explanation. It is 100% relevant to this thread, so please explain why it was deleted.

*****
I think a more simple way to think about it is that client nodes are not for earning fees, but rather trading using native DEX where you never give up control of your funds and can take advantage of liquidity multiplication.

Technically, unix nodes have a much easier time with the networking (assuming firewall isnt blocking ports) and an LP node will need to provide low level services to client nodes to allow the client nodes to publish offer in the decentralized orderbooks.

The reason is that a lot of client nodes using home connections simply wont be able to bind an address in a way that external nodes can connect to them. To solve this methods similar to a STUN server is needed, ie. using a universally accessible node to create an automatic forwarding.

Assuming reasonable network size, the added load on the LP nodes wont be that much and the advantage is that the orderbooks will get that many more orders, liquidity and dexfees. So, it is expected LP node operators have purchased DEX asset to earn revenues from the DEX operation. Since SuperNET has a large stake in DEX, it will be able to run all the LP nodes that the ecosystem needs. Of course, more LP nodes are always welcome as everything is open source and a very important aspect is reliability.

A client node that is depending on another node to provide low level connectivity to the orderbook and other nodes will lose that connectivity if the other node goes down for whatever reason. So if you want more reliability, you would need to run an LP node.

The client node will be divulging their ip address to the LP node that provides the forwarding services, so you cant assume the ip will be private, though of course there wont be any logging of ip addresses by the SuperNET nodes. Since anybody can run an LP node, you cant assume the LP nodes are not logging ip addresses.

However, the purpose of native DEX is to trade, not privacy. To obtain privacy, use JUMBLR.
Peanutbutterpolka
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June 20, 2017, 05:15:40 PM
 #10356

@drai that sucks for your loss.

However I seem to remember there being a warning about this being beta software .

Atleast you still have your 53000 kmd, thats over $100,000 in value that james and team have created for you.

I do feel your pain though. Polo allowed 600 ltc to be stolen from me.

So chaulk it up to a loss or an expensive learning mistake, we all make em.
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June 20, 2017, 05:58:21 PM
 #10357

can we have a RoadMap about supernet projects? Smart contracts, Jumbrl, EasyDEX....
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June 20, 2017, 06:33:38 PM
 #10358

has the snapshot been done yet?
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June 20, 2017, 07:13:58 PM
 #10359

Is Komodo wallet "backed" by seeds or wallet.dat (or something like that?)

Seed in basilisk mode (light wallet mode)

Wallet.dat in native mode

Thanks. And where is the wallet.dat located?  Appdata?








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June 20, 2017, 07:22:03 PM
 #10360

Is Komodo wallet "backed" by seeds or wallet.dat (or something like that?)

Seed in basilisk mode (light wallet mode)

Wallet.dat in native mode

Thanks. And where is the wallet.dat located?  Appdata?

\AppData\Roaming\Komodo

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