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

[Conqueror]

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

 

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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[BitcoinOnFire]

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.

[BitcoinOnFire]

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?

[BitcoinOnFire]

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!

[PondSea]

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.

[KomodoPlatform]

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.  

[penoze]

Looking forward to this project.

Considering to invest BTC in it

Kind regards,

[bittamak]

So, what's the future of BTCD??

[jd1959]

So, what's the future of BTCD??

Another footnote in history of crypto

Cheers Jon 

[KomodoPlatform]

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!

[kennyP]

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 ...

[Conqueror]

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

[jl777]

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 ...

I am working on a transition plan for NXTventure. It has value as it has holdings.

By "completed"/"finished" I mean it was working as it was intended to, it wasnt incomplete

[KomodoPlatform]

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

Thank you for your input! I included more information regarding the exchange rates.

If you are not comfortable participating in Komodo ICO, there are numerous people who do want to participate in the ICO and thus are willing to buy more BTCD. This gives value to the BTCD.

[Conqueror]

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.

Average price in Aug = 0.00354716 BTC/BTCD
BTCD exchange rate =  0.00354716 * 1.5 = 0.00532074 BTC/BTCD

When we take into account the bonuses during ICO, we get:

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

This is complete nonsense you estimate BTCD price based on Komodo price which is unknown.
And will be unknown until Komodo is live on the exchange!!!

Explain how you get to 0.00532!!!
BTCD exchange rate =  0.00354716 * 1.5 = 0.00532074 BTC/BTCD is absolutely meaningless equation and no guarantee Komodo purchased at that fabricated rate will have such value.

You are cooking from water my friend.

[KomodoPlatform]

We guarantee that one BTCD will be worth 0.00532 bitcoins in the ICO. Thus swapping BTCD to Komodo is the same as investing BTC in the ICO.

If you don't like to participate in the ICO, then you should not hold any BTCD either.

To all the people who will participate in the ICO, it doesn't matter if they invest with BTCD or BTC.

We recommend everyone to either sell their BTCD or invest them in the upcoming ICO. We cannot guarantee that BTCD will have any value after the Komodo ICO, as the last developer will be focusing on Komodo development and BTCD will thus have no developers left. However, after the ICO every BTCD holder has 1 year to do the swap to Komodo.

[Conqueror]

We guarantee that one BTCD will be worth 0.00532 bitcoins in the ICO. Thus swapping BTCD to Komodo is the same as investing BTC in the ICO.

Exactly, so you guarantee nothing at all. Instead the LESS people buy into ICO, better for BTCD holders!


If you don't like to participate in the ICO, then you should not hold any BTCD either.

Do you realize, that all this was ninjalaunched on BTCD holders without warning? I would never invest into BTCD if I had this knowledge

To all the people who will participate in the ICO, it doesn't matter if they invest with BTCD or BTC.

We recommend everyone to either sell their BTCD or invest them in the upcoming ICO. We cannot guarantee that BTCD will have any value after the Komodo ICO, as the last developer will be focusing on Komodo development and BTCD will thus have no developers left. However, after the ICO every BTCD holder has 1 year to do the swap to Komodo.

[BitcoinOnFire]

There are two options - either the project is being abandoned right now, or it was already abandoned long time ago?

So you say BTCD was abandoned long ago, and it was only illusion that it exist and will be sth in the future?

Maybe I'm wrong but I think many people feel the project is being abandoned now with poor exchange rate to switch to a new project.

I cannot prove anything - all discussion were on slack which deletes history. But all discussions and development were promising BTCD will be sth in the future and there was no discussion about new ICO and anything suggesting BTCD is abandoned project... At least not last 10 months that I'm watching it.

PS

Invested in BTCD 10 months ago, so what you mean about expecting short term pump? The one that can happen in 1-2 years since buy in?

What Im complaining about is only that you assume/expect 5x funds dilution + risk regular ICO dump within 1 month, which leads basically to investment loss, as ICO will eat BTCD gain, which was very likely within next 3-6 months, and only can promise sth in much longer term. So again longer term...

PS2

I see not many BTCD holders complaining, but judging by some questions, most people do not understand simple math and believes they are swaping 1:1. So I do not care much about those "convinced" that all is good.

I'd like to hope all will be good like you say, but still I think how it is solved and communicated is wrong approach, and do not promise well.

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.

[jl777]

There are two options - either the project is being abandoned right now, or it was already abandoned long time ago?

So you say BTCD was abandoned long ago, and it was only illusion that it exist and will be sth in the future?

Maybe I'm wrong but I think many people feel the project is being abandoned now with poor exchange rate to switch to a new project.

I cannot prove anything - all discussion were on slack which deletes history. But all discussions and development were promising BTCD will be sth in the future and there was no discussion about new ICO and anything suggesting BTCD is abandoned project... At least not last 10 months that I'm watching it.

PS

Invested in BTCD 10 months ago, so what you mean about short term pump? The one that can happen in 1-2 years since buy in?

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.

There is no abandoning going on. There is the ability to swap BTCD for komodo. That is not abandonment no matter how you want to spin it.

[Conqueror]

Congrats jl777

You artificially created conditions when most beneficial to loyal long term BTCD holders is FUD the shit out of the Komodo thus increasing their share of ICO.

And I will do just that. Sorry, I can't just ignore free market conditions.