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Author Topic: [ANN][KMD][dPoW] Komodo - Zcash Zero Knowledge Privacy Secured by Bitcoin  (Read 583385 times)
jwiz168
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September 04, 2016, 02:02:38 AM
 #381

It is a whole new approach for PoW . Hmm interesting concept the BTCD is building . Going to watch over this.

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September 04, 2016, 02:32:12 AM
 #382

It is a whole new approach for PoW . Hmm interesting concept the BTCD is building . Going to watch over this.
Thanks!

I am glad somebody noticed dPoW is a brand new consensus mechanism that provides bitcoin security to all other dPoW chains.




http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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September 04, 2016, 03:47:26 AM
 #383

It is a whole new approach for PoW . Hmm interesting concept the BTCD is building . Going to watch over this.
Thanks!

I am glad somebody noticed dPoW is a brand new consensus mechanism that provides bitcoin security to all other dPoW chains.





When is the white paper scheduled to be released?

ICO announcement is essentially presentation of concept to potential investors to raise funds
Announcing ICO without proper white paper is like showing up to venture capitalist and saying I have an idea, I can't really explain it, but trust me it's gonna be HUUUGE

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September 04, 2016, 03:54:06 AM
 #384

It is a whole new approach for PoW . Hmm interesting concept the BTCD is building . Going to watch over this.
Thanks!

I am glad somebody noticed dPoW is a brand new consensus mechanism that provides bitcoin security to all other dPoW chains.





When is the white paper scheduled to be released?

ICO announcement is essentially presentation of concept to potential investors to raise funds
Announcing ICO without proper white paper is like showing up to venture capitalist and saying I have an idea, I can't really explain it, but trust me it's gonna be HUUUGE



ICO starts on the 15th of OCT. It will be released before then.

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September 04, 2016, 03:57:02 AM
 #385


Hey James,  
maybe you can give us a statement to thefollowing.

There are dozends of projects and icos from you. jl777, nxtventure, supernet, etc etc

Almost none of your projects is anywhere near finished. The recent project Iguana is not finished.

Now you start the next project and the next ico.

Looks like there is some systematic behind this.

So maybe you can tell us, if you will ever finish a project?
While I have done many projects, I think "dozens" is an exaggeration. Similarily your statement about no projects finished is a bit harsh.

jl777hodl is a holding fund for various crypto projects. As such it has been finished for years. It was the first asset that started trading and made history, this was something like 2 years ago. I would consider this finished.

MGW is multigateway.com and that also has been finished and in service for over a year. Since it is working and being used for over a year, I would consider that finished.

NXTventure is another one that has been finished for over a year. It has paid out in dividends more than I think any other NXT asset by value of dividends at the time it was sent out. Again, the future of NXTventure is hampered by all the changes with NXT that is out of my control, however I would consider NXTventure was completed.

SuperNET is a hybrid holding vehicle and technology incubator. At least that is one way to look at it. http://www.supernet.org/nav.php shows its current holdings and despite being hit by a 75% reduction in its NAV the first year (mostly due to NXT price decline and my not actively trading), the NAV has more than doubled to within striking distance of the original. This is achieved while paying for all the costs to run SuperNET out of the investment gains. Now what other project self-funds from investment gains that it makes?

I have issued more than a dozen proxy assets, such as mgwBTC and superBTC. These asset's function is to represent 1:1 the BTC to allow using the NXT AE to trade them via blockchain. I did this 2 years ago and I am pretty sure it was the first tokenDEX that allowed trading of crypto against crypto. This is 2 years ago, when just now we finally see other solutions of this kind appearing. I would consider these assets completed.

Iguana is a bitcoin daemon and wallet that can sync the entire BTC blockchain from scratch in 2 hours. It also can sync over a dozen other coins, all from a self-contained codebase that I wrote from scratch. Its codesize is about 3MB and it has been ported from unix to osx, win32, win64, android and chrome app. docs.supernet.org documents its API bindings and it is now in the final stages of debug and will be used as a component within komodo. I have seen some GUI that is looking pretty good and for basic wallet function and parallel sync it appears to be working, though I do the core level code and not the GUI so I cant speak for it in detail.

Is iguana completed? Not quite, but it is very close and I suggest you take a look at it. The source code has been open and available during the development process at https://github.com/jl777/SuperNET and you can see that I have been quite busy over the years. docs.supernet.org documents the API

crypto777: this is an ongoing technology revenue asset and as soon as project start generating revenues, it will too. It basically represents revenues from the technology that I do that doesnt already have an asset to encapsulate its revenues. In some sense it is done, just that the revenue streams are flowing yet. Maybe this is in an in-between state, but there was no ICO per se for this, so not sure if you have an issue with it.

Now to the real unfinished projects list, however please note that there was NO ICO for these and it was funded by small number of private investors, so I dont think it is fair for you to criticize them as an incomplete ICO, as they were not even ICO:

InstantDEX: easyDEX is in last stages of coding/debugging and is part of the overall solution of loosely coupled blockchains using atomic swaps. The full InstantDEX was mostly working last year(!) however due to disappearance of GUI dev combine with NXT increasing txfees dramatically while reducing the available space to store data, made an InstantDEX built on NXT uneconomic. Should InstantDEX have been finished by now? Yes. I made a mistake of building the InstantDEX on top of NXT, which is a platform that I had no voice in and when everything was changed and made it so a few of my projects became unviable, my protests were met with a "you should have known better". OK, so lesson learned and now I know better, I wrote iguana from scratch so its entirety I am in control. Never again will I be at the mercy of arbitrary changes that break backward compatibility and the fundamental economic model of a service I built on top of it.

Pangea: this is a decentralized poker service that is in a holding pattern now due to the retooling required to switch from a NXT based service to iguana based.

Tradebots/NXTcoinsco: part of this is in the process of being completed within the easyDEX framework, but again the shift from NXT based to iguana based was a delay factor.

NXTprivacy: this is mostly a deprecated asset due to my shift from NXT to iguana, but I do have a plan to infuse some life to it after the dust settles from the other projects. In any case it never did any ICO and didnt even do much of secondary trading on NXT AE, so its priority has been low.

Do you want me to list the projects that I didnt even raise funds from private investors and are just various technology projects that I have percolating? Not sure why you would have any complaints if I have a lot of projects in the research phase that I have not raised funds for.

I proposed an Asset Passport system, which is a way to protect asset issuer and holders by allowing them to migrate from chain to chain. This was actually the genesis of dPoW which evolved from the need to secure weak PoS chains. I never raised any funds for this.

I have proposed Teleport, Telepathy and PAX within the BTCD context, but I did not do any ICO to raise funds to develop this. Teleport at a high level is similar to zcash, in that there is a blackbox of bits representing the transaction, but the math behind the zero knowledge proofs is a step above anything else and I always want to use the best tech solution for my systems, even if it means replacing something I made. Telepathy is a network level privacy "mixer" and this will work on top of the komodo, of course it needs for komodo to be finalized and also its urgency is much less due to the strength of zcash tech. PAX has been coded to alpha level, but as an unfunded project has been back burnered and also waits for the full transition to iguana. Is it is disappointing that these things have not been completed yet? Sure, but I am just one guy coding away most days and many have advised me to get more help at the core level. The issue is I cant find any other C coders at my level who will work for anything less than a lot of money.

I am also providing free consulting for many projects, they just have to ask and I try to help as I can, which is usually with some technical ideas. I am not the one actually doing these projects though, so I hope you do not hold me responsible for any delivery status of all the projects I have helped with my advice.

I understand if you see all these projects and there isnt the level of success you want to see. After all if it was all finished and a big success I wouldnt have to be working these 14 hour days 28 days a month, continuously.

However, the perception that I never finish everything is not correct. The perception that I do dozens of ICOs and just spend all the money and ask for more, is not correct.

I have done exactly one ICO outside of the NXT assets, and that is SuperNET. Its charter for use of funds is primarily to make investments and I have been funding operations from the profits, while growing the NAV from a low of .002 to its current .006 level.

If you can name any other ICO I conducted where funds were raised and I havent delivered anything, I am curious to know what it is. As you can see I am not limited in the number of ideas, nor do I feel their quality is low. What I need is more resources. I had hoped to get at least half a dozen volunteers to work on the core C projects, but alas, there were none.

With komodo there is the possibility of creating not only the first dPoW implementation, but also to fund all of the pending projects that are in slow motion due to my only having 16 hours per day to work and I am slacking off this year by working only 14 hours per day.

James



What about Waves? Seems you raised 30k btc there. I havnt followed it at all, but it seems strange that it was not mentioned at all here, given that they are so closely tied to the vision of Supernet.

How is Waves doing?
 
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September 04, 2016, 03:58:08 AM
 #386

James is not part of Waves, that belongs to Sasha and Co. He did invest Supernet funds into Waves.

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September 04, 2016, 04:00:39 AM
 #387

This is a scam. Zero Knowledge proofs are unproven lack of research field of Cryptography. Sorry this pump will fail
Strange...

https://github.com/zcash/zips/blob/master/protocol/protocol.pdf

There seems to be  a lot of math proofs and a lot of research and a protocol specification.

What part of this doesnt meet your high standards?

Also, zcash appears to be 9% of the most cited research in this field: http://saweis.net/posts/most-cited-security-papers-2013-2014.html


http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
jl777
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September 04, 2016, 04:04:31 AM
 #388

What about Waves? Seems you raised 30k btc there. I havnt followed it at all, but it seems strange that it was not mentioned at all here, given that they are so closely tied to the vision of Supernet.

How is Waves doing?
Waves wasnt mentioned. Neither was IOTA. Neither was Stratis. Neither was HEAT

SuperNET owns significant stakes in all four of those projects:

http://www.supernet.org/nav.php

I didnt mention these projects in the komodo ICO as it doesnt relate to them and being invested in a project, giving advice to it, is different than conducting an offering.

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
Conqueror
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September 04, 2016, 06:20:29 AM
 #389

HODL, HODL, HODL!I suspect that when his alliance dumped most coins, he dilutes 200x to raise more money again.
Jl777 is doing  many very long term projects and all profits will pour into your ... ILLUSION.
Show your codes with other devs who can understand potential profits, pay them with SuperNET money and assests, do the rest as promises. Why don't you do this way?
Another cycle will be this: no real product, just git, clone & run because he can't do GUI, do not blame him...
Because NXT devs kicked him out, SuperNET and other assets are nearly homeless.
CryptoCard is dead in silence. Teleport, Telepathy: too longterm ideas that ZCASH makes them obsolute and James wants to depend on that technology to further delay his project if anything happens with Zcash relationship.
InstantDEX will be EasyDEX for a show case after 2 years gambling with SuperNET money and no real product.
After BTCD dilutting, SuperNET and other assets manipulating projects is the next?

By the way, up until now, Jl777's API is like this:



Jl777's commitment is as following:



Poor all BTCD bagholders!



^This

 Grin

Guys, all of you BTCD investors are beeing fucked at the moment.
Do not stop the FUD by telling the truth.
And make sure to bump this picture on every page of this thread.

Boycot jl777 and all his projects!
BitcoinOnFire
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September 04, 2016, 06:47:53 AM
 #390

In the end you can call all investors - greed bastards and bad whales, why not? In the end investors want increase their funds, so they are bad and greed.

Only when you need them you smile to them and try to be good, when you have them - you do not care.

Or maybe they are not greedy, just rational? Do not want fo freez funds for 10 weeks, loose even 5x gain during the pause/dilute, and avoid getting dumped price after ICO like usually. Because there are some chances like that. 10 weeks of waiting just to loose more.

What you do not see is you show your new investors that you misstreat the old investors. So you does the FUD yourself promoting the bad approach.

OK Pondsea - I can agree with all you say if you can proove JL and the team has 51% of BTCD - in that case you win, I accept democracy.

But if not that case, no voting win, it's just a bad ignoring approach. Why future investors should count on sth better?

This could be another approach - maybe even more fair, but harder to do - ask the BTCD investors for additional money for development.

It's also harder because requires costs estiamtions, to know what we should pay for.

So maybe in the end ICO is best idea, but with lower max, not more then 10k BTC, I think doubling current marketcap would be ok. Still - all investors could buy BTCD already if they wanted to increase share.

What we as the community of BTCD should do is to ask for the ICO funds for ourselves as a DAO and only pay to jl777 for the actual work he does (if any). That way the funds would remain in the hands of the community. In addition, BTCD should still be renamed to Komodo because BTCD needs a better name.

BTCD investors are not going to put BTC into a community fund to pay for a dev if you need even 100 BTC. A lot of the FUDing in here has to do with greed, do you really expect people to be selfless and fund a community project? They never work out on donations alone.

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September 04, 2016, 06:51:41 AM
 #391

No - first you need to understand people, more precisely investors. Same guys as you need them more in ICO.

I can agree more money is needed, but show me the costs planned and justification. Professional business approach.

Also I repeat:

What you win by discussion and going for compromise is:
- respect
- less complaining
- trust, as you prove you treat investors seriously

What invetors need:
- not freezing the price for 10 weeks so low
- not diluting funds so much
- trust/discussion




People need to understand that this ICO could be a flop in terms of BTC raised, why is everyone seeing the MAX BTC allowed as what the outcome would be? dPoW from my understanding could cost up to about 500 BTC a year, will you be funding that?

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September 04, 2016, 06:58:03 AM
 #392

I do not agree spam war approach is good Conqueror.

Open discussion and professional business approach is needed on both sides - current BTCD holders and Komodo team upgrading BTCD.

Let's also expect costs plan and justification.

Also unlocking BTCD price and less diluting BTCD - protecting current investors.


Guys, all of you BTCD investors are beeing fucked at the moment.
Do not stop the FUD by telling the truth.
And make sure to bump this picture on every page of this thread.

Boycot jl777 and all his projects!

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September 04, 2016, 07:12:12 AM
 #393

No - first you need to understand people, more precisely investors. Same guys as you need them more in ICO.

I can agree more money is needed, but show me the costs planned and justification. Professional business approach.

Also I repeat:

What you win by discussion and going for compromise is:
- respect
- less complaining
- trust, as you prove you treat investors seriously

What invetors need:
- not freezing the price for 10 weeks so low
- not diluting funds so much
- trust/discussion




People need to understand that this ICO could be a flop in terms of BTC raised, why is everyone seeing the MAX BTC allowed as what the outcome would be? dPoW from my understanding could cost up to about 500 BTC a year, will you be funding that?

James did not hold a ICO for btcd so who are actually investors?

He is a person that has no obligations to BTCD. He is free like anyone to walk away at any time and not offer this swap.

So before anyone thinks about dilution or the lack of a short term pump, think about a devless coin that has the same tech as any other alt coin.

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September 04, 2016, 07:37:30 AM
 #394

Start this new Komodo coin with snapshots just like NXT did. Everyone will be happy.

If we would have done that, then the BTCD price would have huge price volatility, and at the end of the snapshot the BTCD price would be close to zero. It would give nice profits to the day traders, but the casual BTCD holder would probably not be to happy.

Instead - and considering that we are here for the long term - we want to have a stable price and give an equal change for all to participate in the ICO. At the same time we want to reward the old BTCD 1.0 holders, and that is done by 50 % bonus to the average price of Auguist, and the new revenue asset.

Some BTCD holders have been very vocal about this, others understand the situation. We considered all the scenarios and we believe this one will give the best outcome for everyone, although there will always be some people who are unhappy.There is no reason to cancel or modify the ICO at this point.

jl777 has been the lead developer for BTCD a long time, and there hasn't been any funding for it. jl777 did not abandon BTCD! Instead he came up with a solution that will make sure the BTCD's vision for financial privacy if fulfilled.

If a developer joins a project in a midway, he is not bound to the investors in the same manner as if he would have raised a lot of money for the development. Even if that would be the case returns are never guaranteed. An investment in a startup is a high risk investment, and investing in cryptocurrency ICO's is little like investing in startups.

For those that do not know, James is an exceptional developer, as he doesn't abandon projects simply because the money ran out or because someone would pay him better in another project. In fact, he has been coding two years for free. Clearly money is not what motivates him, but the end result he strives for.

Without jl777 BTCD would probably have been forgotten a long time ago. However, now BTCD is transforming itself to Komodo: a cryptocurrency using all the latest technologies, and which will integrate to all the other projects James is developing.

I hope we could soon stop talking about BTCD and start talking about Komodo.  Wink

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September 04, 2016, 08:07:40 AM
 #395

Looking forward to this project.

Considering to invest BTC in it

Kind regards,


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September 04, 2016, 08:17:32 AM
 #396

So, what's the future of BTCD??
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September 04, 2016, 08:26:39 AM
 #397

So, what's the future of BTCD??

Another footnote in history of crypto

Cheers Jon  Wink

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September 04, 2016, 09:51:52 AM
 #398

So, what's the future of BTCD??

Because jl777 will be focusing on Komodo development, the BTCD will soon have no developers left. jl777 has repeatedly stated, that he has no binding obligation to continue to devote his time (for free) to BTCD development.


So we could say BTCD becomes Komodo, but technically the BTCD chain will remain intact (as this is no fork).


Thus everyone is encouraged to swap to Komodo. Komodo is the new BTCD!


I hope this answers your question!

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September 04, 2016, 10:17:17 AM
 #399


NXTventure is another one that has been finished for over a year. It has paid out in dividends more than I think any other NXT asset by value of dividends at the time it was sent out. Again, the future of NXTventure is hampered by all the changes with NXT that is out of my control, however I would consider NXTventure was completed.


What do you mean by 'finished' James? Will there be more dividends paid to NXTventure (is it still worth anything), or is it dead? What do you mean by "completed"? People still trading it ...



     
     

     
     
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September 04, 2016, 10:22:54 AM
 #400


BTCD Valuation for the swap

In order to simplify the BTCD to KMD swap, a fixed exchange rate of 1.0 BTCD to 0.00532074 BTC was established, meaning that if you send one BTCD you will receive 0.00532074 BTC worth of Komodo. This exchange rate was determined by adding a 50% bonus to the daily closing price average of August.  The  swapping process will take place after the ICO and detailed information will be posted soon.

This is so wrong and missleading in all aspects.

you will recieve 0.00532074 BTC worth of something that has unknown value.
making whole conversion rate meaningless



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