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Author Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B  (Read 1146896 times)
KomodoPlatform
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December 24, 2016, 04:38:53 PM
 #3221

I have some BTCD on the bittrex exchange  I do not know how to swap it for KMD?
Please give me a short explain for this . Thank you.


You can swap it when the BTCD deposit feature is enabled on our ICO site. There's more info in the post above your post.



The situation is still the same as it was before: we are waiting for this one thing. We are sorry for the situation as it has taken quite long to enable the BTCD feature on our ICO site.

As soon as we are ready to move forward we will announce it here, in our social media and via our newsletter.

If someone have BTCD on bittrex than he have to move his funds to your site to swap it. You have to ask from bittrex to do swap for all BTCD holders.

Yes, the owner of those coins must swap them through our ICO site. There will be 365 days to do it.

However Bittrex won't do the swap, because it is the choice of the investor if he wants to swap or not. Of course we highly recommend everyone to swap as BTCD won't have any devs left. Komodo is the future!

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December 24, 2016, 11:08:07 PM
 #3222

Will we be able to trade our KMD bought on ICO on january? Delay on development may harm price when KMD get indexed in exchange platform. I am eagerly waiting to trade my KMD.

My opinion on this is , as long as it does not hit on exchanges , the price of KMD remains @ 0.00012909 btc. Considering the rising value of bitcoin, we should be glad 😁

Why not 0.00012908? Is it too low for u to not lose ur temper? Would u go all in on an ultimate short if it crosses 0.00012907?
This is what startles me the most.

There are about 30 people working very close to KMD now including PondSea, mr_e, ludom, James, twin and a rest of not so poor gang coming from NXT. Why is BTCD price is sooo low now? Are you guys dumping them on us to have them back in 2-3 weeks? Or maybe you're out of BTC as the rest of fully loaded us? Or you guys have no trust in your own coin? 200 BTC is not a lot? Well, buy them up.

I am not trying to fud here, but it just does not click. I keep buying as much BTCD as I can and the price only goes lower every day. How is that even possible without huge daily dumps? And who in their right mind would dump when switch is so close? I am probably too paranoid, or too frustrated with what is happening on the pre-KMD market. What do you guys think?

EDIT:  BTW, BTCD price is nearing pre-KMD announcement ...

The BTCD price drop is no body fault...because all alcoins including eth are suffering the same price drop daily when Bitcoin price rise.
This happen because Bitcoin price is rising, so all alcoins price are dropping when Bitcoin rise.

This is not new, this same trend happen last year and previous years...when Bitcoin price rise, all alcoins price will drop.
I guess it because all exchanges depending on Bitcoin to trade for alcoins & fiat, thus all alcoins price will get effected when Bitcoin rise.

Hopefully Bitcoin price will stop rising early next year, then alcoins price including BTCD price will rise again.
So for now just be patience and just wait till it Bitcoin price cool down...





Better to ask why BitCoin price is going up. Bitcoin may do a soft fork to Lightning Network and Smart Contracts even allowing ACCT.

Lightning is a bolt on, no soft fork needed, same with things like RISK for smart contracts. Soft fork will be needed for SegWit if it ever gets support. Not looking good today.

Yes but without SegWit there is no Lightning network= SoftFork... Tx malleability. It is controversial yet there is no other way forward for BitCoin unless they do something which may replicate some of the Komodo functions. Cool thing would be that everyone uses Komodo instead of BitCoin and just use the Blocks to secure Komodo. Huge influx of BitCoin into Komodo...
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December 25, 2016, 12:34:51 AM
 #3223

is it true that komodo funds have been used to participate in the byteball distribution? if so, will we see some of that?
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December 25, 2016, 02:00:46 AM
 #3224

I apologize for a probably dumb question, but I bought some BTCD and trying to figure out how to store it safely. I am using the BitcoinDark Wallet for Windows (the QT one, I guess) and I used the Console to extract my private keys for the receiving addresses that I have in the wallet with funds on them. 

I assume that's technically all I need to do (keep those private keys secured and safe elsewhere for a backup), but what do I need to backup from the wallet itself?   Just the wallet.dat file?   

Also I wish there was some way to have all the BitcoinDark files on an encrypted drive and not just sitting there on my C drive.  Is there a way to change the settings of the client so it can find the blk001.dat file and the others in a different location? 

I guess I have the private keys written down for my public addresses, I don't really even need to have the Wallet itself installed, but not sure yet and not to that point.

Thanks for any help and I'm looking forward to converting these BTCD to KMD in a few weeks if it's ready by then.
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December 25, 2016, 02:12:19 AM
 #3225

Our developer Satinder Grewal explains Komodo in his newest blog



https://www.youtube.com/watch?v=PIRzyjPF5Bs

Check it out! Smiley

Good video, can you explain iguana and ram chains in a later one?
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December 25, 2016, 02:33:47 AM
 #3226

Looking good, wait for the mainnet launch and exchange listing, i invested some money in ico, hope a good return
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December 25, 2016, 03:25:47 AM
 #3227

Our developer Satinder Grewal explains Komodo in his newest blog



https://www.youtube.com/watch?v=PIRzyjPF5Bs

Check it out! Smiley

Good video, can you explain iguana and ram chains in a later one?

Glad you like it.

Yes, iguana itself deserves a dedicated video of it's own. I'll cover iguana soon.

But before that I'll probably cover topics related to Komodo itself, as those are needing more clarification. such as notary nodes and elections.

Satinder

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December 25, 2016, 11:21:11 AM
 #3228

is it true that komodo funds have been used to participate in the byteball distribution? if so, will we see some of that?

Byteball looks like a promising technology and we consider it as a long term investment. We will use the byteballs for working capital.

I apologize for a probably dumb question, but I bought some BTCD and trying to figure out how to store it safely. I am using the BitcoinDark Wallet for Windows (the QT one, I guess) and I used the Console to extract my private keys for the receiving addresses that I have in the wallet with funds on them. 

I assume that's technically all I need to do (keep those private keys secured and safe elsewhere for a backup), but what do I need to backup from the wallet itself?   Just the wallet.dat file?   

Also I wish there was some way to have all the BitcoinDark files on an encrypted drive and not just sitting there on my C drive.  Is there a way to change the settings of the client so it can find the blk001.dat file and the others in a different location? 

I guess I have the private keys written down for my public addresses, I don't really even need to have the Wallet itself installed, but not sure yet and not to that point.

Thanks for any help and I'm looking forward to converting these BTCD to KMD in a few weeks if it's ready by then.

- you should encrypt the wallet if you haven't done so already
- BTCD privatekey is enough (but in order to send them out you will need to have a fully synced client where you import the keys)
- Yes also backup the wallet.dat file

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December 25, 2016, 12:06:35 PM
 #3229

Also I wish there was some way to have all the BitcoinDark files on an encrypted drive and not just sitting there on my C drive.  Is there a way to change the settings of the client so it can find the blk001.dat file and the others in a different location?
Yes, as for most bitcoin-qt wallet forks: Start with parameter -datadir="D:\...\data"
ibrahim11
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December 25, 2016, 01:06:22 PM
 #3230

Can't wait for KMD to launch! Only regret was not investing during the ICO bonus period Sad
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December 25, 2016, 01:25:14 PM
 #3231

Can't wait for KMD to launch! Only regret was not investing during the ICO bonus period Sad

If you have some BTC to invest then you can buy BTCD, the exchange rate that will be applied to swap BTCD for KMD is better than any bonus you could've gotten if you had invested (a small amount of) BTC during the ICO.

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December 25, 2016, 01:27:48 PM
 #3232

Can't wait for KMD to launch! Only regret was not investing during the ICO bonus period Sad

On the contrary to what many people believe... it is still possible to invest in KMD even though the ICO is over. You can just buy BTCD, and depending on its market price you might get a good bonus compared to what people paid during the ICO. The BTCD price has declined along with the other altcoins while the BTC price has risen.

The KMD price during the ICO with 0% bonus: 1 BTC = 7746,521995 KMD

BTCD swap rate: 1 BTCD = 50,42041779 KMD

I'll try to clear out all the uncertainty & misunderstandings

We try to swap all BTCD there exist throughout 1 full year. If someone has BTCD it can be swapped, no matter when it is bought. You could buy BTCD 6 months from now and swap it for KMD.

BTCD Snapshot to get REVS

 - The snapshot is not related to BTCD swap.
 - The snapshot is to get an additional asset called REVS.
 - The privatekeys are used to redeem the asset.
 - The snapshot has not happened yet!
 - to participate the BTCD can be stored either in a BTCD address under your control, or in our ICO site

BTCD Swap to get KMD

 - has nothing to do with the snapshot
 - is done through the ICO site
 - lasts 1 full year
 - swapped BTCD ends up to our account, where it is publicly visible (nothing will happen to the swapped BTCD)
 - hopefully every single BTCD coin will get swapped during the year

Schedule

 - ICO site accepts BTCD
 - 7 days after that BTCD snapshot happens & the swapping begins
 - Elections begin, and last 2 weeks
 - Elections are over, elected notary nodes will get ratified, KMD will be distributed

The conclusion

If you buy BTCD it can be swapped at any time. To also receive the REVS asset you need to have a privatekey that contained BTCD during the snapshot. BTCD swap and snapshot are two separate things.

During the year BTCD can be swapped for KMD with the exchange rate we announced: 1 BTCD = 50.448 KMD (However the exchange rate decreases slightly throughout the year because BTCD staking expands the supply)

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cyrixcer
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December 25, 2016, 01:32:37 PM
 #3233

Can't wait for KMD to launch! Only regret was not investing during the ICO bonus period Sad

On the contrary to what many people believe... it is still possible to invest in KMD even though the ICO is over. You can just buy BTCD, and depending on its market price you might get a good bonus compared to what people paid during the ICO. The BTCD price has declined along with the other altcoins while the BTC price has risen.

The KMD price during the ICO with 0% bonus: 1 BTC = 7746,521995 KMD

BTCD swap rate: 1 BTCD = 50,42041779 KMD

I'll try to clear out all the uncertainty & misunderstandings

We try to swap all BTCD there exist throughout 1 full year. If someone has BTCD it can be swapped, no matter when it is bought. You could buy BTCD 6 months from now and swap it for KMD.

BTCD Snapshot to get REVS

 - The snapshot is not related to BTCD swap.
 - The snapshot is to get an additional asset called REVS.
 - The privatekeys are used to redeem the asset.
 - The snapshot has not happened yet!
 - to participate the BTCD can be stored either in a BTCD address under your control, or in our ICO site

BTCD Swap to get KMD

 - has nothing to do with the snapshot
 - is done through the ICO site
 - lasts 1 full year
 - swapped BTCD ends up to our account, where it is publicly visible (nothing will happen to the swapped BTCD)
 - hopefully every single BTCD coin will get swapped during the year

Schedule

 - ICO site accepts BTCD
 - 7 days after that BTCD snapshot happens & the swapping begins
 - Elections begin, and last 2 weeks
 - Elections are over, elected notary nodes will get ratified, KMD will be distributed

The conclusion

If you buy BTCD it can be swapped at any time. To also receive the REVS asset you need to have a privatekey that contained BTCD during the snapshot. BTCD swap and snapshot are two separate things.

During the year BTCD can be swapped for KMD with the exchange rate we announced: 1 BTCD = 50.448 KMD (However the exchange rate decreases slightly throughout the year because BTCD staking expands the supply)

I see 1 btc worth btcd is about 14k kmd, so buy kmd to sawp is better than btc investment? And we need to withdraw them? The date of snapshot?
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December 25, 2016, 01:46:26 PM
 #3234

Can't wait for KMD to launch! Only regret was not investing during the ICO bonus period Sad

If you have some BTC to invest then you can buy BTCD, the exchange rate that will be applied to swap BTCD for KMD is better than any bonus you could've gotten if you had invested (a small amount of) BTC during the ICO.
Damn, I don't have any more fiat to buy btc Sad
KomodoPlatform
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December 25, 2016, 01:53:54 PM
 #3235

I see 1 btc worth btcd is about 14k kmd, so buy kmd to sawp is better than btc investment? And we need to withdraw them? The date of snapshot?

Yes, that is what the math currently says. We will announce the date for the snapshot when we know it.

The swap will happen through our ICO site.

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December 25, 2016, 07:04:51 PM
 #3236

Can't wait for KMD to launch! Only regret was not investing during the ICO bonus period Sad

If you have some BTC to invest then you can buy BTCD, the exchange rate that will be applied to swap BTCD for KMD is better than any bonus you could've gotten if you had invested (a small amount of) BTC during the ICO.
Thats slightly annoying Sad I got 3850 komodo for 0.5 btc investment in ICO (no bonus) but if I bought BTCD and swap it then I could get 6800 KMD Sad((
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December 25, 2016, 10:17:36 PM
 #3237

Got to think that when the swap is actually open and ready for business, then BTCD should see a bump in price.  I am trying to accumulate all I can at these current levels.  Of course nothing is guaranteed, but it's a risk I am willing to take.   
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December 26, 2016, 12:00:47 AM
Last edit: December 26, 2016, 12:45:35 AM by tclo
 #3238


I see 1 btc worth btcd is about 14k kmd, so buy kmd to sawp is better than btc investment? And we need to withdraw them? The date of snapshot?

What are you basing that on?  The current BTCD price?

Right now BTCD is trading at .00375.   So 1 BTC will buy you 266.67 BTC.  The swap rate is approximately 50.4488 KMD per BTC.  So 266.67 x 50.4488 = 13333.33 KMD per BTC (through BTCD swap).   And the BTCD price is fluctuating between .0033 and .0041 recently, so I suspect your calculations were made when BTCD was a little lower.

KMD ICO ratio was 7746.522 at the end without the bonus.  BTC was 20% lower then in USD terms.  So 20% extra is 9295.8263.   So you still do better right now buying BTCD than you would have during the end of the ICO, with no bonus.

However BTC went up 40% since the start of the ICO on Oct 15.  So that means 7746.522 * 1.4 = 10845.1308 + 25% bonus = 13556.4135 KMD. So that is actually 1.5% more KMD than you would receive at start of ICO than right now buying BTCD at .00375 and swapping it.

So those who bought at the beginning of the ICO probably did better than if buying BTCD to swap right now...especially if they were buying a considerable amount. BTCD volume on Poloniex is so small that you can't even buy 1 BTC worth, without shooting the price up 10% or more.
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December 26, 2016, 12:50:45 AM
 #3239


I see 1 btc worth btcd is about 14k kmd, so buy kmd to sawp is better than btc investment? And we need to withdraw them? The date of snapshot?

What are you basing that on?  The current BTCD price?

Right now BTCD is trading at .00375.   So 1 BTC will buy you 266.67 BTC.  The swap rate is approximately 50.4488 KMD per BTC.  So 266.67 x 50.4488 = 13333.33 KMD per BTC (through BTCD swap).   And the BTCD price is fluctuating between .0033 and .0041 recently, so I suspect your calculations were made when BTCD was a little lower.

KMD ICO ratio was 7746.522 at the end without the bonus.  BTC was 20% lower then in USD terms.  So 20% extra is 9295.8263.   So you still do better right now buying BTCD than you would have during the end of the ICO, with no bonus.

However BTC went up 40% since the start of the ICO on Oct 15.  So that means 7746.522 * 1.4 = 10845.1308 + 25% bonus = 13556.4135 KMD. So that is actually 1.5% more KMD than you would receive at start of ICO than right now buying BTCD at .00375 and swapping it.

So those who bought at the beginning of the ICO probably did better than if buying BTCD to swap right now...especially if they were buying a considerable amount. BTCD volume on Poloniex is so small that you can't even buy 1 BTC worth, without shooting the price up 10% or more.

It really depends whether you base your calculations on Bitcoin or USD as a stable medium. I personally base all my calculations on Bitcoin because I don't convert between USD and BTC. If you base your calculations on BTC (i.e. you already had the BTC and have no intentions of exchanging it to USD) you will do better by swapping BTCD, but if you bought BTC just for the ICO then you would've done better in the beginning of the ICO since your base is USD.

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December 26, 2016, 06:20:59 AM
 #3240

It really depends whether you base your calculations on Bitcoin or USD as a stable medium. I personally base all my calculations on Bitcoin because I don't convert between USD and BTC. If you base your calculations on BTC (i.e. you already had the BTC and have no intentions of exchanging it to USD) you will do better by swapping BTCD, but if you bought BTC just for the ICO then you would've done better in the beginning of the ICO since your base is USD.

Whether you already had BTC or bought it for the ICO doesn't change anything in my calculations above.  But of course if you disregard fiat entirely, then it's even a better deal now to buy BTCD than to have bought during the ICO, beginning or end.

However few people don't care about the fiat value of their BTC or BTCD or KMD. 

And if you ever spend BTC, then it's real world purchasing power is based on it's value in fiat, so it's certainly relevant.
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