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

[jl777]

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.

As long as we all understand you are FUD'ing for your own purpose, have fun. Just lets try to remain civil. Thanks

[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.

As long as we all understand you are FUD'ing for your own purpose, have fun. Just lets try to remain civil. Thanks

I will
Actually there is plenty of topics to elaborate on.

[airsekui]

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.

Yep, I too will jump on this band-wagon...but with dose of reality not fud. You chose your strategy, and I do what is in my best interest.

For those considering investing in this ICO using BTC, be very careful here....there is a long history of promised tech that was hyped to investors to draw in BTCD buyers and believers during it's initial development and "integration with Supernet". Not one of the following has been completed: ramchains, telepathy, teleport, telepods and so many other promises that have not been fulfilled. The dev jl777 here has a long history of promises and not producing. Now, Komodo is promised as integrating something that was a well running chain, BTCD, and taking all potential future value by making new promises about an "amazing" great technology, now termed Komodo, horizontally transferring value for his own good and promising huge words and catchy tech to produce - a zcash clone (which is development and will require optimization out the wazooo to work for his tech) with iguana and other unproven and possibly seriously flawed and unsecured tech).

Please do your research and know this is a long draw to continually feed unfulfilled promises. BE CAREFUL!

http://www.alternativecoin.com/nxt-bitcoindark-and-supernet/

[jl777]

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.

Yep, I too will jump on this band-wagon...but with dose of reality not fud. You chose your strategy, and I do what is in my best interest.

For those considering investing in this ICO using BTC, be very careful here....there is a long history of promised tech that was hyped to investors to draw in BTCD buyers and believers during it's initial development and "integration with Supernet". Not one of the following has been completed: ramchains, telepathy, teleport, telepods and so many other promises that have not been fulfilled. The dev jl777 here has a long history of promises and not producing. Now, Komodo is promised as integrating something that was a well running chain, BTCD, and taking all potential future value by making new promises about an "amazing" great technology, now termed Komodo, horizontally transferring value for his own good and promising huge words and catchy tech to produce - a zcash clone (which is development and will require optimization out the wazooo to work for his tech) with iguana and other unproven and possibly seriously flawed and unsecured tech).

Please do your research and know this is a long draw to continually feed unfulfilled promises. BE CAREFUL!

http://www.alternativecoin.com/nxt-bitcoindark-and-supernet/

ramchains are used in both MGW and iguana. MGW in service for over a year, iguana is in beta test. my assessment is that zcash zkp is better than teleport/telepod so I choose the better tech to use and replace the older tech. telepathy networking tech is what has evolved into notary nodes.

There will be a testnet for the ICO, so everyone can verify that it is working.

docs.supernet.org documents the API bindings, which is something that can be verified using curl (syntax provided). Do you consider having a working API as "hype"?

[JohnnyBTCSeed]

(Thanks for your criticisms guys, your comments are noticed, but I'm a big boy and prefer to make my own decisions)

I would like to read more about the new unique dpow.

Is there a steemit post or a write up somewhere that describes how jl777 came up with dpow?

The whys, hows, whens, whats, whoose-its of it all.

[jl777]

(Thanks for your criticisms guys, your comments are noticed, but I'm a big boy and prefer to make my own decisions)

I would like to read more about the new unique dpow.

Is there a steemit post or a write up somewhere that describes how jl777 came up with dpow?

The whys, hows, whens, whats, whoose-its of it all.

I needed a way to secure very weak chains, chains that might run on a handful of nodes with weak PoW or PoS. Otherwise assetchains wouldnt be secure enough for anything with a lot of value, like SuperNET.

I came up with a half solution:
https://bitco.in/forum/threads/using-btc-as-time-sequence-server-to-allow-cross-chain-atomic-swap-and-increase-security-of-altchain.925/

The initial idea had some issues, but after a few intense review sessions with anonymint, the idea evolved into what would become dPoW. I take responsibility for any issues in the dPoW, anonymint reviewed the high level ideas.

With the requirements and basic design in mind, it became clear that notary nodes are needed, otherwise it is very difficult to prevent data spoofing on the bitcoin chain. I had recently gotten familiar with steemit and am actually one of the backup witness nodes, so that structure filled in the details needed for the notary nodes.

From NXT, its PoS is more efficient than the utxo+coinage method as there is just one hash needed per address, versus one for each utxo. Also, the NXT PoS has stood the test of time and has been reviewed. Of course being PoS it is not as secure as bitcoin PoW.

Nothing is as secure as bitcoin PoW.

Starting with the need to secure assetchains, getting the initial half right idea, refining it via discussions, to the final selection of the components. It didnt come as any fully formed idea, but rather had to be evolved and refined over time.

Now the dPoW with the notary servers of course is not anything a small assetchain can possibly afford to have. It will be expensive enough for a large coin, but I realized that like the bitcoin hashrate can be utilized by dPoW, the dPoW can be used by other chains.

So to fully solve the initial need, that is what was required

[PondSea]

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.

How do you know you will get 5x dilution?

Who is most people that believe they are swapping 1:1?

[PondSea]

For all the fudders, the ICO is on the 15th of Oct.

Save your energy till and start fudding around that date.  

[randombit]

Commodos says to this ICO  





I would like to write a short update about supernet ICO and some events in the past. As i know all BTC from Supernet are still on a safe multisig wallet,  could you post that link please James?, THX! and let me say good job so far, even if some projects lost some focus.

[PondSea]

Commodos says to this ICO  





I would like to write a short update about supernet ICO and some events in the past. As i know all BTC from Supernet are still on a safe multisig wallet,  could you post that link please James?, THX! and let me say good job so far, even if some projects lost some focus.

I dont know about the BTC from the Supernet ICO but check out http://www.supernet.org/nav.php

Some of it has been invested this year to provide a healthier NAV. Whilst other coins are backed by promises, Supernet is back by assets.

[randombit]

I know what supernet is, i was one of the first investors,  but thanks for your advertisment.  I just need the BTC address to show other and prove that all BTCs are still untouched.

[xxxgoodgirls]

Reserved. I bought BTCD 10 days ago, am I eligible to already swap, have I missed a swap opportunity or what?

[bigs21024]

will be following this

[jl777]

I know what supernet is, i was one of the first investors,  but thanks for your advertisment.  I just need the BTC address to show other and prove that all BTCs are still untouched.

The BTC and CNY (tokens) that were raised was held by bter who hosted the ICO.
The process to obtain funds from bter was: https://nxtforum.org/unity/supernet-funds-request-authorization-thread-official/

I had a bad feeling about bter and was trying to withdraw the funds, but the above process was cumbersome and very slow. Right when I had a large pending requests waiting for committee approval, bter was hacked and it was all lost. The very process that was supposed to protect the funds was indirectly the cause for losing a large percentage of our liquid assets.

"Luckily" the large majority raised in the ICO was NXT, which the hack didnt steal so while the loss of BTC in bter was large in terms of percentage of BTC, overall capital percentage was much less. What killed the NXT side's value was the double bear market. NXT declined 85% in BTC terms while BTC dropped to $200. This is how the NAV dropped by 80% to .002 BTC and I was forced to start trading to generate BTC for operating expenses. I really should have been trading all along, but even after the hack there was plenty left and the bear market was this slow gradual loss of value, I was like the frog being boiled very slowly. Plus I was coding nonstop.

I was forced to shift to a just in time method, where I would make sure to have enough liquid BTC for the required expenses. I would get the trading gains and send it to noashh at https://blockchain.info/address/15DJTUgBz6mkGDVxAe7fXsR2tszq5Fyt1L and he would deal with all the day to day expenses.

I have been able to make enough profits from predictable market mispricings. It seems my understanding of the tech and trading experience combines so I am able to have a decent success rate. In some cases I also sell off some of an existing position, but other than NXT, SuperNET's positions in its portfolio coins has been generally growing. The portfolio has diversified away from NXT.

The bter hack and the bear market has forced us to be very, very frugal and our burn rate has been reduced about 10 BTC/mo to 20 BTC/mo. I guess most people dont realize the hardships SuperNET has gone through on the money side of things. At any given time there is typically around (6 months ahead) 100BTC as I need to be making trades to gain BTC and that is hard to do if you are holding BTC.

I hope the above has clarified the SuperNET BTC situation, it has been explained before but I guess not all the gory details. noashh can answer any questions about the day to day expenses. For all those that were saying I would just run off with the money, I believe I have proven that I am a responsible money manager.

I have been using my skills as a crypto trader to restore the NAV closer to ICO levels while covering the operating expenses and keeping the community updated via slack. All that, while coding the iguanacore 12 hours per day. Which is a full bitcoin implementation written in C from scratch. I only code in C, I dont do GUI. However, unlike some projects, SuperNET seems to need a GUI or the API at http://docs.supernet.org doesnt count for anything.

So we are making the GUI and installers

[jl777]

Reserved. I bought BTCD 10 days ago, am I eligible to already swap, have I missed a swap opportunity or what?

swap starts right after ICO closes and is available for a year. Just make sure to have the BTCD local so you get credit in the revshare asset snapshot

[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 ...

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

Thanks for that answer James! Might there be more asset dividends for NXTventure from new projects, or an allocation of KMD for NXTventure?

[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

Thanks for that answer James! Might there be more asset dividends for NXTventure from new projects, or an allocation of KMD for NXTventure?

The thinking is the latter, but only up to a small percentage of amount raised. so if a large amount comes in, then it wont be a big deal due to the relative small value of NXTventure.

If not enough comes in, then at least there could be a liquidation distribution of its contents, or maybe it can stay on the shelf and be resurrected if we get the resources to manage it.

[xxxgoodgirls]

Reserved. I bought BTCD 10 days ago, am I eligible to already swap, have I missed a swap opportunity or what?

swap starts right after ICO closes and is available for a year. Just make sure to have the BTCD local so you get credit in the revshare asset snapshot

I cannot find a btcd local client, can you please provide me a link? Thank you.

[PondSea]

Reserved. I bought BTCD 10 days ago, am I eligible to already swap, have I missed a swap opportunity or what?

swap starts right after ICO closes and is available for a year. Just make sure to have the BTCD local so you get credit in the revshare asset snapshot

I cannot find a btcd local client, can you please provide me a link? Thank you.

https://bitcointalk.org/index.php?topic=684090.0

Here you go.

[yassin54]

Press Release: Komodo - The New Standard for Secure and Anonymous Transactions

https://cointelegraph.com/news/komodo-the-new-standard-for-secure-and-anonymous-transactions

https://twitter.com/KomodoPlatform/status/772736272490176512