[ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B

[ComputerGenie]

...If a notary receives roughly 1500 KMD per month, then 80-90% of that for running a complicated masternode without needing any skin in the game is a pretty good deal imo...

Skin can be measured in many ways.
The long and short of what I'm getting out of the last couple of pages is that instead of reinvesting my KMD into buying $35,000 worth of GPUs and hardware to mine KMD, I should have been saving my hard earned KMD and concentrated on buying votes. 

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[jl777B]

If a notary receives roughly 1500 KMD per month, then 80-90% of that for running a complicated masternode without needing any skin in the game is a pretty good deal imo.

A NEM SuperNODE requires 3mil XEM, a DASH masternode 1000 - do the numbers, a lot of skin in the game!

P-Trump makes some sense here, if more candidates than vacant places how else to decide, everyone likes the 1500 KMD per month, and I see many notaries run more than one.

Last elections werent really competitive at all, we had a hard time finding enough notaries.

This time I think few notaries will end up with all four regions, though it is possible. All up to the voters

[jl777B]

...If a notary receives roughly 1500 KMD per month, then 80-90% of that for running a complicated masternode without needing any skin in the game is a pretty good deal imo...

Skin can be measured in many ways.
The long and short of what I'm getting out of the last couple of pages is that instead of reinvesting my KMD into buying $35,000 worth of GPUs and hardware to mine KMD, I should have been saving my hard earned KMD and concentrated on buying votes. 

It is doubtful any small scale vote buying will have much success and for this year the only vote buying is by buying KMD

[ComputerGenie]

...If a notary receives roughly 1500 KMD per month, then 80-90% of that for running a complicated masternode without needing any skin in the game is a pretty good deal imo...

Skin can be measured in many ways.
The long and short of what I'm getting out of the last couple of pages is that instead of reinvesting my KMD into buying $35,000 worth of GPUs and hardware to mine KMD, I should have been saving my hard earned KMD and concentrated on buying votes. 

It is doubtful any small scale vote buying will have much success and for this year the only vote buying is by buying KMD

That $35,000 USD is considered "small scale" just kinda brings us back full circle to what I said before:

So, in short, the rich stay rich and the poor stay poor.

[philhellmuth]

I'm interested in DEX token and it's benefits from BarterDEX trading fees. Could somebody please give me a perspective if today I turn 1000 KMD tokens into DEX tokens what kind of profit can I expect monthly from the DEX fees from current volume on the BarterDEX?
I know there is no real adoption yet and the profits are most likely hard to even determine with only 1000 KMD token worth converted to DEX tokens but just to have an idea of potential gain if we get lets say 100 times more adoption than today which seems highly likely to me.

[jl777B]

I'm interested in DEX token and it's benefits from BarterDEX trading fees. Could somebody please give me a perspective if today I turn 1000 KMD tokens into DEX tokens what kind of profit can I expect monthly from the DEX fees from current volume on the BarterDEX?
I know there is no real adoption yet and the profits are most likely hard to even determine with only 1000 KMD token worth converted to DEX tokens but just to have an idea of potential gain if we get lets say 100 times more adoption than today which seems highly likely to me.

the revshare will be less than the 5% from KMD, so from that perspective it wont make sense. Of course at much higher volumes, this will change.

1/777 of the tradevolumes will go out as revshares, so it is quite diluted as that is one of the lowest fees and it is only to one side.

1000 KMD would get 0.1% of the DEX revshares. extremely hard to predict what the revshares will be.

[philhellmuth]

1/777 really is a micro fee which is great for the users but not so profitable for DEX holders.

Could you please do the math if you use some medium size exchange volume numbers? Lets say Liqui with 50 mil daily trading volume?

[Big Naturals]

...If a notary receives roughly 1500 KMD per month, then 80-90% of that for running a complicated masternode without needing any skin in the game is a pretty good deal imo...

Skin can be measured in many ways.
The long and short of what I'm getting out of the last couple of pages is that instead of reinvesting my KMD into buying $35,000 worth of GPUs and hardware to mine KMD, I should have been saving my hard earned KMD and concentrated on buying votes.  

Each to their own, why is investing your KMD into GPU's for mining more KMD better than someone else investing their KMD to get a notary node any way they can? I don't get the sour grapes attitude, other than stock standard crypto jealousy of guys with bigger stacks.

Tech guys would obviously like to get voted in based solely on their skills and reliability, but what other decentralised crypto do you know of that works that way? Every crypto I know of either sells coins in ICO's, or let's people mine them with hardware, or uses some form of staking, so expecting something different with kmd is naive. Lisk, Heat, WAVES, XLM, Ardor all offer pools of some sort for small holders to earn some money, Komodo notary is difficult to setup but many can do it, so pools for notaries looks inevitable, why on earth would that be a bad thing? Wouldn't it be good to share notary profits, at least not complain that it is somehow 'unfair'?

notary nodes are a monopoly by design, it's a good system to ensure good operators, and running one isn't anyone's right unless jl777 says so. How someone gets a notary is not important, call it buyìng votes if you want, but I agree with P-Trump that there are monopoly profits here, and who gets them is best left to the market.

[Big Naturals]

How many notary operators are paying other people to run their nodes now?

@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!

[Atomsprengkopf]

i have a wallet that was created a year ago and a new one. in the agama app a green field appears to the right of the seed as soon as you have entered the seed.
I enter the seed of my old wallet appears in this field "NXT" I enter the seed of my new wallet appears "iguana (256 bits)".
the newly created wallet works without problems with the old wallet I get the error "No history available" while claiming it
I'm trying to send coins the error "decode error" comes up

is it possible to convert the12 words seed into a 24 words seed. my coins are lost otherwise

[ComputerGenie]

How many notary operators are paying other people to run their nodes now?

@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!

I think that if one is willing to part with a portion of one's revenue stream to have an "employee" then that's his/her prerogative.

My "angst" issue is the massive barrier to entry in anything that's "voted on" while $35k is considered "small scale" in the voting process.
For the record: this isn't about me, personally, other than using myself as an example.

[jl777B]

1/777 really is a micro fee which is great for the users but not so profitable for DEX holders.

Could you please do the math if you use some medium size exchange volume numbers? Lets say Liqui with 50 mil daily trading volume?

50,000,000 / 777 = 64,350 per day which would end up with about $1 per month per DEX

[Big Naturals]

How many notary operators are paying other people to run their nodes now?

@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!

I think that if one is willing to part with a portion of one's revenue stream to have an "employee" then that's his/her prerogative.

My "angst" issue is the massive barrier to entry in anything that's "voted on" while $35k is considered "small scale" in the voting process.
For the record: this isn't about me, personally, other than using myself as an example.

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

[philhellmuth]

50,000,000 / 777 = 64,350 per day which would end up with about $1 per month per DEX

So with that volume you would be getting 1$ monthly for every DEX token that you hold?
Sound pretty good if you convert 1000 KMD into 37 000 DEX tokens (current price).
However the volume on KMD vs DEX is terrible atm and I guess one would hardly convert 1000 KMD into DEX without mooning the price of DEX.

[viennavtc]

and what sort of payouts will Unity/Supernet receive vs DEX?  Even less?  I am having a hard time understanding the value of Supernet after the migration to Komodo. 

[jl777B]

and what sort of payouts will Unity/Supernet receive vs DEX?  Even less?  I am having a hard time understanding the value of Supernet after the migration to Komodo. 

SuperNET will get approx 50% of the payout that DEX gets

SuperNET paid out almost a million dollars worth in December, it gets revshares from not just DEX, but also JUMBLR, CRYPTO and the other assets that should start revenues later

Not sure why you feel SuperNET had more value when it was a NXT asset

[polycryptoblog]

...If a notary receives roughly 1500 KMD per month, then 80-90% of that for running a complicated masternode without needing any skin in the game is a pretty good deal imo...

Skin can be measured in many ways.
The long and short of what I'm getting out of the last couple of pages is that instead of reinvesting my KMD into buying $35,000 worth of GPUs and hardware to mine KMD, I should have been saving my hard earned KMD and concentrated on buying votes. 

It is doubtful any small scale vote buying will have much success and for this year the only vote buying is by buying KMD

That $35,000 USD is considered "small scale" just kinda brings us back full circle to what I said before:

So, in short, the rich stay rich and the poor stay poor.

Of the approximately 6.7 million Komodo created a year,   you are complaining about a notary which makes like 15k KMD a year before expenses.  That is 0.2% of the coin generation.  Even if a notary controlled 4 nodes, it is still less than 1% of coin production in a year.  All 64 notary nodes combined are less than 15% of the coin production.

Thats not a monopoly. 

I am one of the notaries who pays to have his node maintained.  My rationale behind this is,  my service provider has much more experience in network adminstration and infosec than i do and has demonstrated that he can keep up with updates, notarizations and respond in an attack scenario, which he did during the coin creation attack early in komodo's history.

The Notary Node funds that have been produced by my node have been used for many different Komodo related things including:

-Coinpayments.net integration

-Having a Komodo Book written for us:  https://www.amazon.co.uk/Komodo-Fuel-SuperNET-Concise-History/dp/1981831452

-Conference materials

-Advertising

-Giveaways

Additionally, due to my inability to get a sweepstakes website up and running ( legal issues not technical ),  I am planning to use the remaining funds of the notary year to establish masternodes in various BarterDEX enabled coins, the proceeds of which will be sold at discount on BarterDEX to encourage use of our DEX to many communities.


I wanted to point this out,   as there is there are misconceptions about  some of us notaries that aren't tech gurus, that we just leech the funds for solely personal profit.

[ComputerGenie]

...All 64 notary nodes combined are less than 15% of the coin production...

The whitepaper seems to disagree:

...Since the rest of the miners have an adjustable difficulty ratio, it does not matter how many more miners attempt to mine Komodo. Most of the valid blocks will always be found by the sixty-four democratically elected notary nodes...

[polycryptoblog]

...All 64 notary nodes combined are less than 15% of the coin production...

The whitepaper seems to disagree:

...Since the rest of the miners have an adjustable difficulty ratio, it does not matter how many more miners attempt to mine Komodo. Most of the valid blocks will always be found by the sixty-four democratically elected notary nodes...

You seem to forget that most of the coin generation is done through the 5% APR and not mining.

Mining Rewards per Year =  3x1440x365 = 1576800 coins
Estimated APR Rewards = 5 million.

So a little under 6.6 million coins produced a year. 

Notary Node Approximate Year Income = 15000 KMD

(15000x64)/6600000  =  14.5 %

[Big Naturals]

I am one of the notaries who pays to have his node maintained.  My rationale behind this is,  my service provider has much more experience in network adminstration and infosec than i do and has demonstrated that he can keep up with updates, notarizations and respond in an attack scenario, which he did during the coin creation attack early in komodo's history.

The Notary Node funds that have been produced by my node have been used for many different Komodo related things including:

-Coinpayments.net integration

-Having a Komodo Book written for us:  https://www.amazon.co.uk/Komodo-Fuel-SuperNET-Concise-History/dp/1981831452

-Conference materials

-Advertising

-Giveaways

Additionally, due to my inability to get a sweepstakes website up and running ( legal issues not technical ),  I am planning to use the remaining funds of the notary year to establish masternodes in various BarterDEX enabled coins, the proceeds of which will be sold at discount on BarterDEX to encourage use of our DEX to many communities.


I wanted to point this out,   as there is there are misconceptions about  some of us notaries that aren't tech gurus, that we just leech the funds for solely personal profit.

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