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Author Topic: [ANN][KMD][dPoW] Komodo - next generation platform, Secured by Bitcoin  (Read 1144416 times)
PondSea
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November 20, 2016, 09:38:50 PM
 #2621

There are only ~104 BTC worth of BTCD available for sale up to 0.006 on Poloniex right now.  Peanuts.

And that is fine, if someone comes in and buys 104 BTC worth of BTCD then yes, the market cap of Komodo will be worth more.  But until that happens the true market cap is $6M.

It was more of a reply to the perceived large discount that was mentioned earlier.  What you're saying is clear!   Smiley



My bad.

Can someone explain this to me who might know.  When they say 500 BTC was raised at 35% bonus (assuming it's 1 investor for sake of this question) does that mean they will be getting allotted Komodo as if they contributed 675 BTC (500 * 1.35) or does that mean someone contributed 370.37 BTC and is getting 500 BTC worth after the 35% adjustment?

I'm asking to try and better understand what we are likely to see when this coin hits exchanges.  

Im pretty sure it was 500 before bonuses but the team can confirm. The BTC raised was 2636 not including bonuses.





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November 20, 2016, 09:41:53 PM
 #2622

THE ICO HAS ENDED


35% bonus: 500 BTC
30% bonus: 0 BTC
25% bonus: 980 BTC
20% bonus: 606.84 BTC
15% bonus: 286.70 BTC
10% bonus: 38.18 BTC
05% bonus: 21.34 BTC
00% bonus: 200.98 BTC

Total BTC raised: 2634.04 BTC
Total BTCD swap: 8392.727 BTC

Total Market Cap: 11,616 BTC = $8,600,000

--> KMD exchange rate = 0.000129 BTC/KMD = 7747.9 KMD/BTC
--> BTCD exchange rate = 0.006511 BTC/BTCD = 153.59 BTCD/BTC


Wow! Much thanks to the BTC investors for helping raise the btcd swap rate from .0052 to .0065!!  That's a bump of approximately 20% Grin

Also BTCD is still available for purchase at around 0.0042 at poloniex which means people can still get Komodo at almost more than 50% bonus even though the ICO is over now.

The market values all BTCD in existence at $4,089,676 according to www.coinmarketcap.com.

So the real Total Market Cap of Komodo based on the market is = 2634.04 BTC * (~$727) + $4.089M = $6.00M

Now of course when it hits exchanges, the market will decide how much of a premium the team and idea are worth.

Market value does not take into account the premium for BTCD holders.

Actually it's the opposite.  The declared market value by Komodo team erroneously takes into account the premium for BTC holders which it should not.

You don't get to just decide to add a premium onto something and then that means the market cap is worth more now.  That's not how it works.  The market has already decided (through demand) that BTCD is worth $4.089M.  Even more telling is that there is a clear 50% premium being offered on BTCD.  If that was a real arbitrage then traders would come in and buy BTCD to that price level of 0.006 (which is not happening because the market values BTCD at $4.089M).  

To say the market cap is higher simply because you are offering more Komodo for BTCD is akin to being Donald Trump and declaring you are now worth more billions because of some arbitrary factor like how you feel that day.  

You are assuming the market understands that there is a fundamental shift in BTCD and the premium it now carries. If that were true people would have bough into BTCD instead of BTC at 0%.

Lol.  You literally have no idea what you are talking about.

Why would someone invest at 0% when buying BTCD would be 50% if everyone had known about the difference in pricing? If you can explain why someone would do that even though they had this information then i will concede.

Otherwise we can agree to disagree.





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November 20, 2016, 10:01:14 PM
 #2623

THE ICO HAS ENDED


35% bonus: 500 BTC
30% bonus: 0 BTC
25% bonus: 980 BTC
20% bonus: 606.84 BTC
15% bonus: 286.70 BTC
10% bonus: 38.18 BTC
05% bonus: 21.34 BTC
00% bonus: 200.98 BTC

Total BTC raised: 2634.04 BTC
Total BTCD swap: 8392.727 BTC

Total Market Cap: 11,616 BTC = $8,600,000

--> KMD exchange rate = 0.000129 BTC/KMD = 7747.9 KMD/BTC
--> BTCD exchange rate = 0.006511 BTC/BTCD = 153.59 BTCD/BTC


Wow! Much thanks to the BTC investors for helping raise the btcd swap rate from .0052 to .0065!!  That's a bump of approximately 20% Grin

Also BTCD is still available for purchase at around 0.0042 at poloniex which means people can still get Komodo at almost more than 50% bonus even though the ICO is over now.

The market values all BTCD in existence at $4,089,676 according to www.coinmarketcap.com.

So the real Total Market Cap of Komodo based on the market is = 2634.04 BTC * (~$727) + $4.089M = $6.00M

Now of course when it hits exchanges, the market will decide how much of a premium the team and idea are worth.

Market value does not take into account the premium for BTCD holders.

Actually it's the opposite.  The declared market value by Komodo team erroneously takes into account the premium for BTC holders which it should not.

You don't get to just decide to add a premium onto something and then that means the market cap is worth more now.  That's not how it works.  The market has already decided (through demand) that BTCD is worth $4.089M.  Even more telling is that there is a clear 50% premium being offered on BTCD.  If that was a real arbitrage then traders would come in and buy BTCD to that price level of 0.006 (which is not happening because the market values BTCD at $4.089M).  

To say the market cap is higher simply because you are offering more Komodo for BTCD is akin to being Donald Trump and declaring you are now worth more billions because of some arbitrary factor like how you feel that day.  

You are assuming the market understands that there is a fundamental shift in BTCD and the premium it now carries. If that were true people would have bough into BTCD instead of BTC at 0%.

Lol.  You literally have no idea what you are talking about.

Why would someone invest at 0% when buying BTCD would be 50% if everyone had known about the difference in pricing? If you can explain why someone would do that even though they had this information then i will concede.

Otherwise we can agree to disagree.

You are assuming everyone was aware of this when clearly that's not the case.  Some people just bought through the ICO platform being unaware.  This doesn't mean that BTCD is inherently worth more because there was some random bonus number that people were unaware of.  What it shows is that actual demand that was directed to BTCD was enough to give it a market cap of $4.089M.  If ENOUGH of those people were directed to buy BTCD to the point where 1 BTCD was worth 0.00655 BTC, then yes that would mean BTCD is worth more, but that simply did not happen.  If the demand is not there, then BTCD is simply not worth that.  

Let me make it more simple.  Until it hits exchanges and a premium is established for what the team and idea are worth, the market cap of Komodo is equal to the value of the amount of BTC raised + the value of BTCD that will be swapped (which is all of it).  Market demand across numerous btc exchanges dictates what the total value of that BTC contributed is worth.  Likewise market demand across numerous exchanges dictates what that BTCD is worth.  All of this is closely monitored on coinmarketcap and easily available for all to see.  So given that Komodo = 2634.04 (market BTC value) + 5630 BTC (market BTCD value) = $6.00M.  It's really that simple.
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November 20, 2016, 10:58:08 PM
 #2624

Calculation were made, and the official (more precise) exchange rates are:
1 KMD = 0.00012907 BTC
1 BTCD = 50.448 KMD

Total Market Cap: 12,900 BTC

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November 21, 2016, 01:43:41 AM
 #2625

P-Trump runs for KMD node election!

I have been accumulating BTCD since 2014, my bags are full.

On present ICO numbers I am guaranteed one of the 64 notary nodes with my vote alone.

I am looking for an experienced and qualified person to setup and maintain a top quality node that meets all jl777's node specifications.

My guarantee to you 'I will never sell down my KMD, I will have sufficient KMD to get elected forever'

Your guarantee to me 'You will run a high quality node with above average reliability forever'

You will manage and pay for the node, and in return you will get 50% of the profits from the node, forever!

My offer is conditional on me winning a node, which is only guaranteed if there are 64 nodes, and on your ability to prove you can run and pay for a full spec node now.

I will try and verify your claim with jl777 and/or other Komodo organisers before we sign any agreements. By that time you will know I have sufficient KMD to have been elected

If there are less than 64 notary nodes at launch I may not win. If this happens I will keep my powder dry until there is an election for a full compliment of 64 notary nodes. Then I will win a node.

If you're interested please reply here. This is not a first-in-best-dressed offer, so take your time to think this offer through. I'm looking for the best candidate I can find who wants to run a notary node for a long time.



I ended up with 2.69M KMD (i.e. 2.69% of the vote)

I've had a few enquiries so far.

Now that the ICO is over attention should turn towards the coming election.

At one extreme there are tech guys with skills & time to run nodes, but not enough KMD/votes to elect themselves

At the other end there are guys with enough KMD/votes to elect themselves, but not enough time & skills to run a node

Some testnet node operators will have sufficient KMD/votes to elect themselves - my offer is obviously not of interest to you

Some testnet node operators will have arrangements with other large holders now - my offer is probably not of interest to you now (but maybe later)

Some testnet node operators will not have sufficient KMD/votes to elect themselves AND they don't have a current arrangement with another large holder - my offer should be of interest to you!

To those people running testnet notary nodes I will point out the obvious - If you don't get elected, you wont be running a notary node!

I'm looking for a long-term 'set and forget' arrangement. Assuming a standard first-past-the-post voting system, my KMD/vote quota should be enough to guarantee ~1.5 notary nodes ... Forever!

I accumulated BTCD since 2014 in the hope of securing a hassle free income stream for many years, I'm planning to hodl my KMD for many many years.

If you want a hassle free income stream for many many years too, but you're not 100% sure that you'll get elected, and KEEP getting elected, then my offer might be worth considering.

If I can't come to a mutually beneficial long-term relationship then I'll bite the bullet and pay someone to setup and manage a node for me, and I'll keep 100% of the profits.

BUT, I'd be happy with 50% of the profits if I didn't have to worry about ANYTHING.

I do really want a set and FORGET arrangement, and I'm prepared to pay 50% of the profits from running a notary node to get it.



How often will the elections happen? You might be waiting for a few terms for the kmd distribution to spread thin, but eventually 1/64 of the vote will be hard to come by for an individual. I wonder if these elections might induce node 'parties' and coalitions to form with platforms and policies. Watching with interest!
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November 21, 2016, 02:13:37 AM
 #2626

I wonder if these elections might induce node 'parties' and coalitions to form with platforms and policies. Watching with interest!

I think it's likely that many small KMD holders will vote for the most reliable node operators using reputation for the good of the network in the first election, but history from PoW mining does show that pools naturally developed as a consequence of both difficulty and block reward in fiat rising. I can't think of any reason why this wont happen with KMD too unless it is specifically excluded in the voting system rules by jl777 and the other devs. NXT has forging pools so small investors can share forging revenues which helps the nxt network, Komodo will probably develop voting pools so small investors can share node rewards.

bitcoin mining has centralised in china due to cost factors in electricity, this wont happen with komodo though as voting is based on stake, so there is no advantage from hardware or power costs. Voting pools would compete based on fees and service, and people can change their vote every election, so bad actors would not survive long

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November 21, 2016, 02:41:11 AM
 #2627

when will there be a desktop wallet?
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November 21, 2016, 04:23:26 AM
 #2628

KMD will be a rare gem of investment. Lucky for those who got into it now. By the time the ZCASH pump starts early next year, KMD will be ready with all the bells and whistles. Guess what will investors buy 1 ZEC at 100 dollars or 1 KMD at 1 dollar?
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November 21, 2016, 04:31:12 AM
 #2629

CAn i purchase BitcoinDark after the ICO & still recieve Komodo at the specified rate?

WHat is the deadline for the swap?


you can do and right now buying btcd at 0.0042 is better than what you get at the 35% bonus Wink

i also want to know when the swap is done need to get my btcd on my wallet then

I need to know also. I want to trade my BTCD for KMD.

The swap from BTCD to Komodo will be available for 1 year after the ICO has finished.
Details TBA

If you wish to claim REVS asset,  have your BTCD in your personal wallet  before end of ICO.  Snapshot will be conducted after ICO has concluded approximately 1-2 weeks.
Further details will be announced after ICO.

That sucks. I have my coins on poloniex. It's so annoying to move them around like that. Can't poloniex give us REVS? Is it too late for me to move my coins or can I still get REVS if I move them?
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November 21, 2016, 04:31:32 AM
 #2630

ico end, very successful one, nice job.
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November 21, 2016, 05:04:13 AM
 #2631

Do you realize that you get something for free? 

You still can move them. Snapshot date isn´t announced yet.

CAn i purchase BitcoinDark after the ICO & still recieve Komodo at the specified rate?

WHat is the deadline for the swap?


you can do and right now buying btcd at 0.0042 is better than what you get at the 35% bonus Wink

i also want to know when the swap is done need to get my btcd on my wallet then

I need to know also. I want to trade my BTCD for KMD.

The swap from BTCD to Komodo will be available for 1 year after the ICO has finished.
Details TBA

If you wish to claim REVS asset,  have your BTCD in your personal wallet  before end of ICO.  Snapshot will be conducted after ICO has concluded approximately 1-2 weeks.
Further details will be announced after ICO.

That sucks. I have my coins on poloniex. It's so annoying to move them around like that. Can't poloniex give us REVS? Is it too late for me to move my coins or can I still get REVS if I move them?
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November 21, 2016, 06:18:37 AM
 #2632

KMD will be a rare gem of investment. Lucky for those who got into it now. By the time the ZCASH pump starts early next year, KMD will be ready with all the bells and whistles. Guess what will investors buy 1 ZEC at 100 dollars or 1 KMD at 1 dollar?

Singing a new tune now eh  Roll Eyes





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November 21, 2016, 07:25:32 AM
 #2633

I have also invested some in komodo as i think komodo have some potential but when i came to know that we need to have own bitcoindark wallet installed in our machine to get KMD, i was surprised. Installed wallet on windows machine but still under 30% of sync in 12 hour. This is really pain in ass situation, can't we just hold those bitcoindark we will get in poloniex wallet? If i do so what i will loss.  Huh Angry

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You Can See Me Now, Hi :}
VARANIDA

 
 
 
 
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November 21, 2016, 08:12:31 AM
 #2634

I have also invested some in komodo as i think komodo have some potential but when i came to know that we need to have own bitcoindark wallet installed in our machine to get KMD, i was surprised. Installed wallet on windows machine but still under 30% of sync in 12 hour. This is really pain in ass situation, can't we just hold those bitcoindark we will get in poloniex wallet? If i do so what i will loss.  Huh Angry

If you invested in komodo via BTC you do not need a bitcoindark wallet.

If you have BTCD, the komodo ICO website will have a way to deposit your BTCD for the snap shot.





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PondSea
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November 21, 2016, 08:13:05 AM
 #2635

when will there be a desktop wallet?

Focus is to get the network up and running. Once that is done desktop wallets will be the next step.





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valley365
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November 21, 2016, 08:47:20 AM
 #2636

I went through the Komodo white paper, the concept looks good, and notory concept is ok as per dPoS, however the central question is really how BTC will allow you to send your transaction to their blockchain? Certainly they can't allow this, otherwise X coin, Y coin all can do the same, which will mess up BTC chain. Without it, the Komodo will be nothing new, it will be a plain PoW or PoS coin.

Maybe dev can provide some more details how you can get to Bitcoin's blockchain?
I have spent a lot of time to use totally standard transactions:

https://blockchain.info/address/1P3rU1Nk1pmc2BiWC8dEy9bZa1ZbMp5jfg

If these are made illegal, a large number of other transactions will become illegal and I really doubt dPoW represents any danger to BTC, in fact it leverages BTC and helps BTC.

Thanks for the reply. While you can make transactions conforming BTC's protocol, if they keep accepting these, the already huge BTC blockchain will become even bigger, I can't imagine how they could allow that (remember Komodo will not be the only one). It's a great concept to use it, but at some point they will have to stop it, unless you will convince them to make it like Ethereum, with sidechains etc trying to cover the whole world. In that case, maybe yes, but they'll have to change big their structure.


Hi!

Actually very likely Komodo will be the only one to do notarizations to Bitcoin blockchain! Other blockchains will send the transactions to Komodo's blockchain, and through the linkage they will get Bitcoin level security.

On our roadmap we are also looking to solve the scalability issues. We mention that in our latest Steemit article: Bitcoin Will Ride With Lizards

I can understand that's the wish of Komodo and I do wish it become true. However, if Komodo has early success on it, there will be people cloning the idea and also hook up on the bitcoin blockchain, which will certain disturb the normal function of BTC, and BTC community won't be agreeing on it I am sure...
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November 21, 2016, 09:12:59 AM
 #2637

when will there be a desktop wallet?

We try to get everything ready for the launch, which is 2 weeks from now. There are two different wallet projects. Read our newsletter for updates!

CAn i purchase BitcoinDark after the ICO & still recieve Komodo at the specified rate?

WHat is the deadline for the swap?


you can do and right now buying btcd at 0.0042 is better than what you get at the 35% bonus Wink

i also want to know when the swap is done need to get my btcd on my wallet then

I need to know also. I want to trade my BTCD for KMD.

The swap from BTCD to Komodo will be available for 1 year after the ICO has finished.
Details TBA

If you wish to claim REVS asset,  have your BTCD in your personal wallet  before end of ICO.  Snapshot will be conducted after ICO has concluded approximately 1-2 weeks.
Further details will be announced after ICO.

That sucks. I have my coins on poloniex. It's so annoying to move them around like that. Can't poloniex give us REVS? Is it too late for me to move my coins or can I still get REVS if I move them?

We are trying to make it so, that you could send the BTCD to the ICO site, participate in snapshot and do the swap for KMD. Because of this effort we haven't announced any snapshot date yet. It's a work in progress.

ico end, very successful one, nice job.

Thank you!

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November 21, 2016, 10:21:36 AM
 #2638

I have also invested some in komodo as i think komodo have some potential but when i came to know that we need to have own bitcoindark wallet installed in our machine to get KMD, i was surprised. Installed wallet on windows machine but still under 30% of sync in 12 hour. This is really pain in ass situation, can't we just hold those bitcoindark we will get in poloniex wallet? If i do so what i will loss.  Huh Angry

If you invested in komodo via BTC you do not need a bitcoindark wallet.

If you have BTCD, the komodo ICO website will have a way to deposit your BTCD for the snap shot.
But here in faq section https://komodoplatform.com/faq/
They are asking to use BTCD address whose private key is with you because they are also talking about giving revenue assets along with komodo. I have invested with bitcoin but now getting confused about all this steps. I have thought of using btcd addresss from poloniex but with it i can't get that revenue assets along with kmd.
Quote
We urge you to hold your BTCD’s in a wallet under your full control, meaning that you have the privatekey. The snapshot will happen ~1 week after the ICO ends.

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November 21, 2016, 10:24:16 AM
 #2639

I went through the Komodo white paper, the concept looks good, and notory concept is ok as per dPoS, however the central question is really how BTC will allow you to send your transaction to their blockchain? Certainly they can't allow this, otherwise X coin, Y coin all can do the same, which will mess up BTC chain. Without it, the Komodo will be nothing new, it will be a plain PoW or PoS coin.

Maybe dev can provide some more details how you can get to Bitcoin's blockchain?
I have spent a lot of time to use totally standard transactions:

https://blockchain.info/address/1P3rU1Nk1pmc2BiWC8dEy9bZa1ZbMp5jfg

If these are made illegal, a large number of other transactions will become illegal and I really doubt dPoW represents any danger to BTC, in fact it leverages BTC and helps BTC.

Thanks for the reply. While you can make transactions conforming BTC's protocol, if they keep accepting these, the already huge BTC blockchain will become even bigger, I can't imagine how they could allow that (remember Komodo will not be the only one). It's a great concept to use it, but at some point they will have to stop it, unless you will convince them to make it like Ethereum, with sidechains etc trying to cover the whole world. In that case, maybe yes, but they'll have to change big their structure.


Hi!

Actually very likely Komodo will be the only one to do notarizations to Bitcoin blockchain! Other blockchains will send the transactions to Komodo's blockchain, and through the linkage they will get Bitcoin level security.

On our roadmap we are also looking to solve the scalability issues. We mention that in our latest Steemit article: Bitcoin Will Ride With Lizards

I can understand that's the wish of Komodo and I do wish it become true. However, if Komodo has early success on it, there will be people cloning the idea and also hook up on the bitcoin blockchain, which will certain disturb the normal function of BTC, and BTC community won't be agreeing on it I am sure...
I see some flaws in your logic...

First off, if others can use KMD chain and get similar benefits, then it seems much more economical to use the KMD chain instead of BTC. It is rather expensive to write to BTC chain.

Most important mistake you are making is thinking that the BTC community needs to agree to accept transactions. Remember bitcoin is permissionless, nobody needs anybody else's permission to send a transaction to the blockchain.

Granted, they could break bitcoin so it is unable to accept transactions at all, then certainly the KMD transactions wont get to the BTC chain as BTC wont exist anymore.

You logic is basically concluding that KMD will force BTC to kill itself.
I disagree

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November 21, 2016, 10:28:08 AM
 #2640

I have also invested some in komodo as i think komodo have some potential but when i came to know that we need to have own bitcoindark wallet installed in our machine to get KMD, i was surprised. Installed wallet on windows machine but still under 30% of sync in 12 hour. This is really pain in ass situation, can't we just hold those bitcoindark we will get in poloniex wallet? If i do so what i will loss.  Huh Angry

If you invested in komodo via BTC you do not need a bitcoindark wallet.

If you have BTCD, the komodo ICO website will have a way to deposit your BTCD for the snap shot.
But here in faq section https://komodoplatform.com/faq/
They are asking to use BTCD address whose private key is with you because they are also talking about giving revenue assets along with komodo. I have invested with bitcoin but now getting confused about all this steps. I have thought of using btcd addresss from poloniex but with it i can't get that revenue assets along with kmd.
Quote
We urge you to hold your BTCD’s in a wallet under your full control, meaning that you have the privatekey. The snapshot will happen ~1 week after the ICO ends.

Please dont be confused.
The ICO phase was for BTC investors and BTCD peoples didnt have to do anything.
The next phase is for BTCD peoples, BTC investors dont need to do anything.

When the BTCD is into the ICO site, then we can do the elections and distribute the KMD.

We are now waiting for the ICO site to accept BTCD. If you invested with BTC, nothing you need to do.


http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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