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

[jl777]

I want to run a Notary Node. I have an 8 Core 16 Thread Xeon 2.0Ghz and 64G RAM with 500GB SSD. I have 75Mbps Down and 30Mbps up North America. Is this acceptable?

the bandwidth is on the slow side, but since we have so few NA nodes (kind of strange, but probably due to the chilling effect of USSA) I think it is worth setting up a testnet notary.

If there arent 16 notary nodes in NA, then all qualified candidates would get elected

[1714045291]

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[1714045291]

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[1714045291]

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[syberwolfen]

on wich exchange the ico will be taking place

[beyinsi]

I want to run a Notary Node. I have an 8 Core 16 Thread Xeon 2.0Ghz and 64G RAM with 500GB SSD. I have 75Mbps Down and 30Mbps up North America. Is this acceptable?

the bandwidth is on the slow side, but since we have so few NA nodes (kind of strange, but probably due to the chilling effect of USSA) I think it is worth setting up a testnet notary.

If there arent 16 notary nodes in NA, then all qualified candidates would get elected

Hello, i can run notary node Zone: South Europe,on Turkey. What must bandwidth be? Download/Upload speed?

[jl777]

I want to run a Notary Node. I have an 8 Core 16 Thread Xeon 2.0Ghz and 64G RAM with 500GB SSD. I have 75Mbps Down and 30Mbps up North America. Is this acceptable?

the bandwidth is on the slow side, but since we have so few NA nodes (kind of strange, but probably due to the chilling effect of USSA) I think it is worth setting up a testnet notary.

If there arent 16 notary nodes in NA, then all qualified candidates would get elected

Hello, i can run notary node Zone: South Europe,on Turkey. What must bandwidth be? Download/Upload speed?

EU is pretty much full already
100mbits/sec is the min recommended bandwidth, except in regions without enough nodes yet

[RichardT]

Is Iguana still on schedule to release before ICO starts?

[KomodoPlatform]

Is Iguana still on schedule to release before ICO starts?

This was asked a day or two ago from the GUI team and they said to be working really hard to achieve that.

[BadAss.Sx]

Now anyone can control one of the 64 nodes which are needed for the Komodo Notary Network.

I have for rent:

6 (or 8, when i'm not getting elected) BadAss Notary Node incl. colo in a bulletproof location in the Netherlands.
A node can also be swapped with one of the servers in another geographic region!

1 x Intel Xeon L5520 (4 cores/8 threads) you can use 2 threads for Komodod and 2 for Bitcoind and others for administrative tasks.
64GB memory
1 x 500GB Samsung Enterprise SSD (no consumer version)
15TB bandwidth
1 x IPv4 addresses
KVM access and control panel
Installed with preferrable Linux distro

200USD per month in BTC (3 months up front)

I can fully secure the server and install everything for you for a fee if you don't know how to do that (one time 100usd). It is also possible that i manage the server for a fee (25usd per month)

My DC has an uptime of 99.9% (in reality it is 100%). jl777, BTCDdev and others can confirm this. All servers are directly connected to the AMS-IX backbones.

Keep in mind, you'll get 500usd per month in KMD & BTC (if KMD are not 500usd worth at that time). So a profit of 300USD. 200USD you pay me in BTC.

3 months up front, after that payment per month or annually (with discount 1 month FREE).

You rent the server ANONYMOUS. But please, don't think you can abuse the server. Phishing, spam mailruns, kiddyporn and terrorism is strictly forbidden!!

When payment is not received at the first week of a new month, the power goes down and you lose the right to be the owner of the node. A new owner will get elected and the pubkey will be changed on the notary node list.

ELECTION (READ THIS!)

Only elected people can get a spot. Server admins will get elected by the shareholders. This means that you can still be on the list for a spot, even when i already have 6 clients. If they won't get elected their spot comes available again. So I am looking for 14 possible clients.

You only pay when you get elected! So, basically this offer is a no brainer. Get elected and earn 300usd per month!

CURRENT LIST:

- yassinnxt
- pondsea
- stenkross
- proto
- Killakem
- Durerus
- Frl4web
- bitcoinuserx (reserve)
- (reserve)
- (reserve)
- (reserve)
- (reserve)
- (reserve)
- (reserve)

Only 1 spot per client

Q&A

- What do i need to do when i get elected?
Setup the server as a Komodo Notary Node, sit back and relax. Of course you have to secure the server so do your maintenance and updates.

- How do I get elected?
I don't know. Do a trump campaign, act crazy like Clinton or hug the shareholders? It's all up to you. Or read this https://bitcointalk.org/index.php?topic=1605144.msg16450895#msg16450895

- Is it really free money?
Well..uhm yeah. Get elected, run the node, receive Komodo's and there it is. Free money.

- What if the Komodo's are not worth the 500usd?
jl777 will give the rest in BTC from the ICO funds.

- Ok, i'm in, what to do?
Write a message in this topic why you want the node. And if you trust me up front, write me a trust review on BCT.

- What is BadAss Security Services?

BadAss (me) is a privacy and security consultant and specialised in being paranoia. BadAss does not like Tor services and so called anonymous VPN providers. BadAss provides co-location servers for all kinds of blockchain projects.

BadAss stands for an open and free internet and provides different services to support that noble thought. Like for instance:

Bulletproof VPS https://www.badass.sx
Bulletproof VPN https://www.rootvpn.eu
Encrypted Email Service https://www.safe-mail.eu
Bulletproof Blockchain Nodes
Anonymous domain registration
Anonymous DNS servers
SSL certificates
Installations of all kinds of services

BadAss cares about your privacy. For all of our services we only need your name and BTC payment.

We will make the internet GREAT again!!!

List updated

1 spot left. Who's in?

[CryptoNick]

I want to run a Notary Node. I have an 8 Core 16 Thread Xeon 2.0Ghz and 64G RAM with 500GB SSD. I have 75Mbps Down and 30Mbps up North America. Is this acceptable?

the bandwidth is on the slow side, but since we have so few NA nodes (kind of strange, but probably due to the chilling effect of USSA) I think it is worth setting up a testnet notary.

If there arent 16 notary nodes in NA, then all qualified candidates would get elected

Good deal, where is the info to setup on the testnet and sign up page? Thanks!

[kennyP]

Is there a chance running a notary node (and receiving KMD fees) might be considered a money transmitting business under FINCEN guidelines? My opinion is no, but I'm not a lawyer.

https://www.fincen.gov/sites/default/files/shared/FIN-2013-G001.pdf

The definition of a " Money Transmitting Business " is a subset of a Money Services Business  which Wikipedia defines as

An MSB has specific meanings in different jurisdictions, but generally includes any business that transmits money or representatives of money, provides foreign currency exchange such as Bureau de changes, or cashes cheques or other money related instruments. It is often used in the context of Anti Money Laundering (AML) legislation and rules.[1][2]


The beauty ( and bane)  of cryptocurrency is that the IRS and several other cases have ruled crypto as Property and not money.   I'm no lawyer but if its consider property then nodes are not considered money transmitting businesses and do not need FINCEN registration.   If you are concerned, it would be best to check with a business lawyer  preferably one that deals with cryptocurrency.


Regarding Mining/Staking and similar:

I can't speak for everywhere but the IRS guidance for cryptocurrency mining is that it is considered income.  

quickly reading the PDF:

###
"A user who obtains convertible virtual currency and uses it to purchase real or virtual goods or services is not an MSB under FinCEN’s regulations"

"an administrator or exchanger is an MSB under FinCEN’s regulations, specifically, a money transmitter, unless a limitation to or exemption from the definition applies to the person."

"An administrator is a person engaged as a business in issuing (putting into circulation) a virtual currency, and who has the authority to redeem (to withdraw from circulation) such virtual currency"
###

I am not a lawyer(!) but my  understanding of this is that a notary node (or anybody that is mining) is putting into circulation a virtual currency but there is no redeem powers as the KMD that is mined cannot be destroyed. Clever lawyers might try to argue that anybody can burn by sending to a null pubkey, but it is not actually destroyed, just very unlikely to be able to be spent. Also, any such "authority" would be something all users would have and as such is not fitting the context of an administrator. After all, how can everybody be an administrator?

It would be nice if someone with legal experience in this can confirm that mining crypto does not make an administrator. It seems to apply more to gateways.

In more good news the DEX I think fits into the end user category as each DEX swap is an end user paying crypto in exchange for crypto.

From what I can tell, it is the providing of services to third parties that is what is being regulated. Direct peer to peer commerce does not seem to be covered by this, but again this is not any legal opinion, just my reading of the PDF above

afaik the guy who's looked into this issue the most is anonymint/TPTB/iamnotback, his two threads below are required reading if you want to learn more about crypto regulation and legal issues. He's not a lawyer, but getting his opinion on the legal status of notary nodes would be very useful.

Topic: The altcoin topic everyone wants to sweep under the rug  (Read 15182 times)
Topic: Which crypto-coins are "investment securities"? Implications?  (Read 4427 times)


Peter Van Valkenburgh is a lawyer with a Washington based non-profit crypto policy think tank, Coin Center. This talk is a good introduction to crypto regulation. Reaching out to these guys might yield some good advice too.
Devcon2: Regulatory Considerations for Dapp Development
https://coincenter.org/entry/framework-for-securities-regulation-of-cryptocurrencies


IMO KMD has features that are part virtual currency (FINCEN) and part security (SEC), so understanding both regulatory frameworks is important. Obviously it's too early to be definitive, and many in the cryptosphere obviously haven't considered these issues, or consciously ignore them, but I think it's good to know the rules even if you decide to break them. Also, as mentioned by Peter Van Valkenburgh in the Devcon talk, being a non american does not save you from USA law if USA citizens buy your token.

disclaimer: I am running in the notary node election

[Ergenekon]

hi,
can i sent btc to kmd ico with bittrex wallet?

or

must i have private keys ?

is there any ico.komodoplatform.com login dashboard?
cya

[Ziggy001]

I wonder why the team link on homepage shows nickname only. Can the team explain this to me ? Thank you.

[KomodoPlatform]

hi,
can i sent btc to kmd ico with bittrex wallet?

or

must i have private keys ?

is there any ico.komodoplatform.com login dashboard?
cya

Yes, there will be an easy login page and a BTC deposit address, so you could send them from an exchange as well.

I wonder why the team link on homepage shows nickname only. Can the team explain this to me ? Thank you.

Here's what we had to say in one of our Steemit posts:

We are aware of that. However because part of our team is anonymous - including our lead developer - we all decided to not use full names & photos.

Knowing the identity of the developers doesn't guarantee success. What we believe to be important is the track record behind a name (real or pseudonym). In our case jl777 has over the years demonstrated his capability and determination to carry on with his projects and plans. The roadmap might have changed, but the overall long term goal has been the same. He has not abandoned his projects and has stayed responsible to his past investors.

Like previously explained, SuperNET has successfully developed a multiwallet and MultiGateway on top of the NXT platform. The NXT and SuperNET communities have used those service for 1-2 year and trust in its authenticity. Projects and cases like this should convince people about jl777's credibility more than an official passport picture ever could.

On top of these the SuperNET has a lot of open source code behind it, that anyone can inspect. jl777 has already began the Komodo development process, and we encourage everyone to follow it and ask any questions that comes to mind!

Open Source code in GitHub:

Iguana - github.com/jl777/SuperNET

Komodo - github.com/jl777/komodo

This issue obviously raises questions and can hurt our trustworthiness, so to combat that we try to keep our records and development as transparent as possible.

Here are links to jl777's development updates about Komodo (thus far):

Komodo Testnet Launch
Basilisk mode in testing
Iguana syncs with Zcash testnet and Komodo testnet   
Bitcoin backstop protection on Komodo
Iguana%E2%80%99s relationship with Komodo
Notary network and Basilisk
Notary nodes and notarization protection
Progress through bugfixing
Node Network and the Notary Node Election Problem
Atomic Cross Chain Swaps
Who Created the Komodo Block?   
Komodo%E2%80%99s capacity for transparent and private transactions
Notary mining wars – and how to avoid them
Assetchain Alpha Release
dPoW Notary Node Debugging   
Notarized Data is Written to BTC Blockchain
The dPoW Development To Do List

Also like stated in the quote above all of the code is open source and available from github. The team and jl777 has a long history already, and all the coding has been done over a few years. Shouldn't this be a clear indicator that the lead developer wants to develop good code and not just run away? He has for two years, and still is, working extremely long days to deliver his vision.

To document the progress we have made a whole annual report about the last year (2015), see here: http://www.digitalcatallaxy.com/report2015.html

All in all, the Komodo's development has already begun. People are testing the dPoW notarization on a Komodo testnet, check SuperNET Slack channel #notarynode. Furthermore, the Iguana development (which Komodo partly needs) started about a year ago. What I'm trying to say is that Komodo has already partly delivered the technology even before the ICO has started.

We are about to update the team introduction section with longer descriptions about our members. We try to get it done today, at least for some of us.

[KomodoPlatform]

We now have the BTCD's recent peers file on the website: http://bitcoindark.com/docs/Recent%20peers.txt

[sri.bima]

We now have the BTCD's recent peers file on the website: http://bitcoindark.com/docs/Recent%20peers.txt

What this mean? Node for Komodo is same with Bitcoindark?
Sorry I am confused by this 

[jl777]

We now have the BTCD's recent peers file on the website: http://bitcoindark.com/docs/Recent%20peers.txt

What this mean? Node for Komodo is same with Bitcoindark?
Sorry I am confused by this 

no
it is just to help BTCD holders get a local wallet synced

[KomodoPlatform]

We now have the BTCD's recent peers file on the website: http://bitcoindark.com/docs/Recent%20peers.txt

What this mean? Node for Komodo is same with Bitcoindark?
Sorry I am confused by this 

It's just for those who want to send their BTCD's to a local wallet.

If you have no BTCD then you can ignore this

As you know, Komodo came from BTCD, and thus BTCD can be later swapped for KMD.

[pickupcoin]

whether it is in the plan any social marketing bounty program?
thanks

[KomodoPlatform]

whether it is in the plan any social marketing bounty program?
thanks

Unfortunately no, there is no social media campaigns.

You can sign up to our newsletter and try to get one of the prizes though

Newsletter Lottery!


We are happy to announce our plan to select a few lucky winners among the people who have signed up for our newsletter! If you haven't yet, go and sign up! It's free

The prices will be as follows:
1x 1000 KMD
2x 777 KMD
25x 100 KMD

After or during the ICO we will select and rewards the winners. If you have already signed up, then you don't have to do anything to participate.  

Sign up!

[CyanFox]

whether it is in the plan any social marketing bounty program?
thanks

No, only the signature campaign, but the payrate is also low, jl777 has raised many thousands of bitcoin from previous many ico, so he is still greedy and mean, what a shame. 

[KomodoPlatform]

whether it is in the plan any social marketing bounty program?
thanks

No, only the signature campaign, but the payrate is also low, jl777 has raised many thousands of bitcoin from previous many ico, so he is still greedy and mean, what a shame. 

For investors it should be a good sign, as we want to use the funds conservatively and not just throw away money just because we have it. Our team decided that a social media campaign is not an effective way to use the funds, and jl777 had nothing to do with that decision.

Our team is quite decentralized/horizontal, where the areas of responsibility are divided for multiple people and teams. jl777 is responsible for the development decisions and the overall roadmap, but not about the Komodo ICO campaign, websites, GUIs, etc.

Best regards,