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Author Topic: [ANN][KMD][dPoW] Komodo - Zcash Zero Knowledge Privacy Secured by Bitcoin  (Read 987795 times)
CryptoSporidium
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September 06, 2016, 10:56:04 AM
 #461

James listened to my concerns and raised points to counteract those concerns and took on the feedback. This is what made me join the team, not to get some incentive to do so.

Now if you want to know if im biased, well i am since im on the team. This does not remove the fact that i am a big BTCD holder and have had the best interest of BTCD holders at heart when speaking to James about this.

In any case you are free to swap or not swap. If you dont swap you will still have the BTCD you have now.



Fair enough then, you prefer not to disclose or discuss any payments you might be receiving from premine or komodo ico funds as an advisor, as is your right.
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September 06, 2016, 11:15:32 AM
 #462

You do realize that a lot of the real opposition is actually from BTCD supporters right?  This ICO actually affects us the most, not other coins/projects.

I didn't see mention that iguana will be released before end of ICO anywhere, so I must have missed it or it was buried somewhere in here or in slack.  If this could be made more prominent then it would change some things.  Preferably, iguana should be released even before the ICO starts.

Of course, there is this whole other issue of the ICO controlling BTCD market prices for the next months to come and ultimately diluting current BTCD holdings.  But I won't go into that right now.

BTCD holders have a vested interest in this true, but i dont think the real opposition is from BTCD supporters thought.

If it was then logic will dictate their responses (like yours) and not fudding like the rest of them.

If you have any questions or concerns feel free to shoot me a DM on slack or PM me here.

Actually, current BTCD holders have the most motive to oppose this ICO.  It is the holders that are directly affected by the price control and eventual dilution of their holdings.  Not Zcash, Monero, or any other coins/projects out there.  Having said that, I wouldn't mind a 1:1 swap, but of course this doesn't bring the team enough guaranteed money.

In regards to the actual Komodo tech, it's hard not to be skeptical given what has happened so far.  It sounds like cool tech, but then it's just another thing that will require extensive testing, a gui, etc and possible delays/drawbacks before it'll be usable by the public.  Who knows how long that will take.  I will wait for Iguana release first, then maybe that will gain back some of the trust.
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September 06, 2016, 11:41:06 AM
 #463

[...] James has no obligations to you nor BTCD holders in general, and is free to leave at any time like any other open source project. What people need to remember is James did not start this coin but has helped it become relevant.

If he wants to just make Komodo without a BTCD swap he is free to. How would that work out for you holdings?
Thats right, but he pushed BTCD with his statements, that the coin will be a core part of supernet. Thats the reason why the people bought it. Thats the basement of the price. Nobody would believe him anything in the future if he would say now: "Sry guys i will use another coin for supernet" The swap is absolutely necessary. Dont sell it as his good will.

And now the stakes of these buyers get diluted without any discussions or warnings.

I have only a few BTCD which i have bought over a year ago because of james's announcements. Now i feel a little bit.. pranked.

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September 06, 2016, 12:00:59 PM
 #464

You do realize that a lot of the real opposition is actually from BTCD supporters right?  This ICO actually affects us the most, not other coins/projects.

I didn't see mention that iguana will be released before end of ICO anywhere, so I must have missed it or it was buried somewhere in here or in slack.  If this could be made more prominent then it would change some things.  Preferably, iguana should be released even before the ICO starts.

Of course, there is this whole other issue of the ICO controlling BTCD market prices for the next months to come and ultimately diluting current BTCD holdings.  But I won't go into that right now.

BTCD holders have a vested interest in this true, but i dont think the real opposition is from BTCD supporters thought.

If it was then logic will dictate their responses (like yours) and not fudding like the rest of them.

If you have any questions or concerns feel free to shoot me a DM on slack or PM me here.

Actually, current BTCD holders have the most motive to oppose this ICO.  It is the holders that are directly affected by the price control and eventual dilution of their holdings.  Not Zcash, Monero, or any other coins/projects out there.  Having said that, I wouldn't mind a 1:1 swap, but of course this doesn't bring the team enough guaranteed money.

In regards to the actual Komodo tech, it's hard not to be skeptical given what has happened so far.  It sounds like cool tech, but then it's just another thing that will require extensive testing, a gui, etc and possible delays/drawbacks before it'll be usable by the public.  Who knows how long that will take.  I will wait for Iguana release first, then maybe that will gain back some of the trust.

Yep best to wait to see what iguana can do before deciding.





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September 06, 2016, 12:01:54 PM
 #465


We will launch mainnet after the Zcash final release, which should happen within 2 weeks after ICO. The certainty of this timeline will be double-checked after we move closer to the ICO. For example,  Zcash testnet beta should begin tomorrow!

This is a huge project, and with any huge projects delays are possible. Delays could come from our end or from Zcash. However, jl777 is confident that the Zcash team is doing great job and will stay in schedule.  At this point, there are no reasons to suspect any delays.


Speaking of which- is there an official stance of the zcash team towards Komodo?

jl777 gets a thank you in section 8 acknowledgements in the following  (https://github.com/zcash/zips/blob/master/protocol/protocol.pdf) so the guys at Zcash certainly have had conversation with him.

Cheers Jon  Wink

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September 06, 2016, 12:08:04 PM
 #466

[...] James has no obligations to you nor BTCD holders in general, and is free to leave at any time like any other open source project. What people need to remember is James did not start this coin but has helped it become relevant.

If he wants to just make Komodo without a BTCD swap he is free to. How would that work out for you holdings?
Thats right, but he pushed BTCD with his statements, that the coin will be a core part of supernet. Thats the reason why the people bought it. Thats the basement of the price. Nobody would believe him anything in the future if he would say now: "Sry guys i will use another coin for supernet" The swap is absolutely necessary. Dont sell it as his good will.

And now the stakes of these buyers get diluted without any discussions or warnings.

I have only a few BTCD which i have bought over a year ago because of james's announcements. Now i feel a little bit.. pranked.

Sure but does James get out of this? His hard work done for free so the btcd holders can profit from? Why does everyone seem so entitled when most couldnt even bother testing the tech over the last 2 years?

If more people were less concerned about a pump and more of getting it to market, we wouldnt be having this discussion as the tech would be finished by now.





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September 06, 2016, 12:19:00 PM
 #467

You do realize that a lot of the real opposition is actually from BTCD supporters right?  This ICO actually affects us the most, not other coins/projects.

I didn't see mention that iguana will be released before end of ICO anywhere, so I must have missed it or it was buried somewhere in here or in slack.  If this could be made more prominent then it would change some things.  Preferably, iguana should be released even before the ICO starts.

Of course, there is this whole other issue of the ICO controlling BTCD market prices for the next months to come and ultimately diluting current BTCD holdings.  But I won't go into that right now.

BTCD holders have a vested interest in this true, but i dont think the real opposition is from BTCD supporters thought.

If it was then logic will dictate their responses (like yours) and not fudding like the rest of them.

If you have any questions or concerns feel free to shoot me a DM on slack or PM me here.

Actually, current BTCD holders have the most motive to oppose this ICO.  It is the holders that are directly affected by the price control and eventual dilution of their holdings.  Not Zcash, Monero, or any other coins/projects out there.  Having said that, I wouldn't mind a 1:1 swap, but of course this doesn't bring the team enough guaranteed money.

In regards to the actual Komodo tech, it's hard not to be skeptical given what has happened so far.  It sounds like cool tech, but then it's just another thing that will require extensive testing, a gui, etc and possible delays/drawbacks before it'll be usable by the public.  Who knows how long that will take.  I will wait for Iguana release first, then maybe that will gain back some of the trust.

1:1 swap is not a good idea.
if lets say you have 100btcd you get 100kmd.
But, total BTCD are 20 millions and KMD 200 millions
I would say you should get 2000 KMD

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September 06, 2016, 12:31:57 PM
 #468

Yes we use the Zcash technology, all credit to them! However, we are not a simple fork as we have added our own technology on top of it. We use NXT style PoS along with a new consensus method called dPoW. The dPoW is an innovation of our own, which will secure Komodo with bitcoin's hashrate (and other coins can secure their blockchains via Komodo).

This is such a convoluted explanation. For all potential investors, please forget about Komodo and simply invest hard in zcash. JL always does this...finds his group of fan-boys who buy into the tech, makes them so excited about something "new" which ends up never getting done and eventually gets hashed into a new ICO....There is no competitive advantage here compared to BTC and zcash for anonymity. This tech will not work.
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September 06, 2016, 12:42:24 PM
 #469


In any case you are free to swap or not swap. If you dont swap you will still have the BTCD you have now.


You are so wring here....because of the decision made by you and the Komodo team, we are "forced" to swap and buy into this ICO. Don't you get it???!!! You are ok with market control and dictatorship? Maybe because you are on the inside and will scrape from the 10% premine!

This really irks me how you can laze-faire this whole issue.
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September 06, 2016, 12:49:08 PM
 #470

[...] James has no obligations to you nor BTCD holders in general, and is free to leave at any time like any other open source project. What people need to remember is James did not start this coin but has helped it become relevant.

If he wants to just make Komodo without a BTCD swap he is free to. How would that work out for you holdings?
Thats right, but he pushed BTCD with his statements, that the coin will be a core part of supernet. Thats the reason why the people bought it. Thats the basement of the price. Nobody would believe him anything in the future if he would say now: "Sry guys i will use another coin for supernet" The swap is absolutely necessary. Dont sell it as his good will.

And now the stakes of these buyers get diluted without any discussions or warnings.

I have only a few BTCD which i have bought over a year ago because of james's announcements. Now i feel a little bit.. pranked.

Yes Flyer88..I feel punked too. This is another bait and switch by JL and his buy-ins. Komodo is a tech that will not get finished....look into it more. It will turn out in 1-3 years, near the deadline to swap BTCD, that another swap will come...to fund development of a different reptilian coin. Shameful...I am committed to saving others' BTC investments.
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September 06, 2016, 01:06:21 PM
 #471

I am following BTCD before even became available 26 months ago.
It is the first day I post negative comments.
What I have seen so far is things that never complete, promises that went into thin air, and plenty of blah blah blah.
Now, I see the same people I believed 2 years ago, trying to raise 30,000 BTC (that's around $20,000,000)
How can I believe they are not going to disappear in a month?

I have no reason to believe anything and anyone anymore.

And, yes, I know! I have seen the movie plenty of times. I am free to leave if I don't like it.
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September 06, 2016, 01:11:29 PM
 #472


In any case you are free to swap or not swap. If you dont swap you will still have the BTCD you have now.


You are so wring here....because of the decision made by you and the Komodo team, we are "forced" to swap and buy into this ICO. Don't you get it???!!! You are ok with market control and dictatorship? Maybe because you are on the inside and will scrape from the 10% premine!

This really irks me how you can laze-faire this whole issue.

No one is forced to swap  as there will be plenty of people willing to buy BTCD. BTCD investors can make an exit, cash out with BTC. When the ICO starts there's no reason for anyone to participate with BTC if buying BTCD is cheaper, thus the BTC/BTCD rate will be fixed.

Oct. 15 -           25% bonus  = 0.00425 BTC/BTCD
Oct. 16-22 -      20% bonus  = 0.00443 BTC/BTCD
Oct. 23-29 -      15% bonus  = 0.00462 BTC/BTCD
Oct. 30-Nov 5 - 10% bonus = 0.00483 BTC/BTCD
Nov 6-12 -         5% bonus   = 0.00506 BTC/BTCD
Nov 13-20 -       0% bonus   = 0.00532 BTC/BTCD

Yes Flyer88..I feel punked too. This is another bait and switch by JL and his buy-ins. Komodo is a tech that will not get finished....look into it more. It will turn out in 1-3 years, near the deadline to swap BTCD, that another swap will come...to fund development of a different reptilian coin. Shameful...I am committed to saving others' BTC investments.

The same fallacy about nothing getting finished is repeated over and over again.

There is progress, and this will get finished. This statement is backed by open source code found from Github and the conversations happening in Slack every day. The claim that there is no progress is only backed by a missing GUI and release.

There will be a release with a GUI before the Komodo ICO starts.





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bitkokos2
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September 06, 2016, 01:15:36 PM
 #473

Where is the promised Anonymous Card?
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September 06, 2016, 01:16:14 PM
 #474

Can you explain why the project needs THAT much Money? Is there any plan what will happen with the budget?

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September 06, 2016, 01:27:19 PM
 #475

my body is ready! but, only one developer? if smth. happens who will support ?
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September 06, 2016, 01:29:49 PM
 #476

my body is ready! but, only one developer? if smth. happens who will support ?

The only support I have seen here so far is if you have problems with syncing your wallet.
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September 06, 2016, 01:45:37 PM
 #477

Where is the promised Anonymous Card?

It's was developed by Coinomat. The cards are issued & project finished, but the outcome didn't turn into a big success due to some problems which I'm not the right person to explain. Apparently some regulatory changes happened...

Can you explain why the project needs THAT much Money? Is there any plan what will happen with the budget?

The project seeks to raise funds to operate dPoW as well as pay for continued development and promotion. In order to use the Bitcoin blockchain tx fees must be paid, and that requires capital. Other usage is to ensure there are enough high capacity nodes around the world. Eventually the system will become self-sustaining, as other coins will use Komodo to get the benefits of dPoW.









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September 06, 2016, 01:58:37 PM
 #478

A few months ago BTCD was going to secure Bitcoin. Now I see Bitcoin is going to secure Komodo aka BTCD 2.0
How come?
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September 06, 2016, 01:59:44 PM
 #479



About the lack of development


The only credible criticism I have heard so far is the lack of project completion. There have been reasons given for the delays, but iguana is about as done as any large scale project can be done. So it is time to package it up into nice GUI with installers and that process has begun.

For people that want to evaluate at the command line level on your own you can via my github.com/jl777/SuperNET repo. You might get a head start on the others that wait. I am constantly updating the repo but I do try to stabilize it as quickly as possible. production versions are made from a snapshot during stable times and go through a test procedure.

By necessity I am not personally involved in this testing, as the coder cant be the production tester of his own work. At this point I am still working in the iguana codebase, but at the higher levels of abstraction and rarely making any changes to the lower level code.

I took a few days off to code up a steemit liquidity awards bot, which worked and earned ~$10K in rewards in the week that it ran before the awards were stopped. To my knowledge my bot was the first one other than the insider's bots that earned the liquidity reward multiple times. My experiences about this are well documented. What does it mean? It shows that in one week I created a real money handling bot that competed against all the existing bots and managed to win awards. Something that few if any other outsider's bots did.

Does that count as a finished release? I did it on personal time one weekend.

Anyway, the question you need to answer is if I can actually code or not. I have my opinion, others have their opinion. If you are not a coder, ask around to find out how much work it is to write an entire bitcoin protocol from network wire protocol, script processing, secp signatures to RPC layer, from scratch without using external libraries. And if 9 months is a horribly long time to achieve this.

github.com/jl777/SuperNET
docs.supernet.org (a list of iguana API)





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September 06, 2016, 02:07:12 PM
 #480

A few months ago BTCD was going to secure Bitcoin. Now I see Bitcoin is going to secure Komodo aka BTCD 2.0
How come?

Hey!

What are you meaning with "secure"? BTCD was never going to secure Bitcoin in the same way Bitcoin will secure Komodo through dPoW.

Please elaborate Smiley





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