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NotMyFarm
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October 20, 2016, 02:05:40 AM |
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All depends on how many BTC are raised. If it is a bloated ICO raising anywhere > 10K BTC there will be little return for ico investors.
For ICO investors to have massive returns the ICO has to raise < 10K BTC.
I miss the old days when ICO lasted for only a week or were limited to a reasonable amount of BTC. Currently every noob know about every ICO and there are no buyers left when the coin hits exchange a week after finishing ICO.
excuse me but 10k BTC ? talking of 6.400.000 US$ come on , what are u guys trying to build ? a new internett or a new currency ! i would take this a notch down, ICO is supposed to get a project started - not a funding until 2030 + new ferrari for the Dev Team !! |
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cebb
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October 20, 2016, 02:21:07 AM |
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Ethereum raised 18 million USD in ICO.
Is Komodo developing something novel like ethereum? Why does it need 30K BTC or 18 million USD just to patch up ZCASH protocol on bitcoin blockchain using notary nodes?
The greed is strong with this Dev!!
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grewalsatinder
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Activity: 186
Merit: 100
Blockchain Technology Enthusiast, IT Pro
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October 20, 2016, 02:31:32 AM |
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All depends on how many BTC are raised. If it is a bloated ICO raising anywhere > 10K BTC there will be little return for ico investors.
For ICO investors to have massive returns the ICO has to raise < 10K BTC.
I miss the old days when ICO lasted for only a week or were limited to a reasonable amount of BTC. Currently every noob know about every ICO and there are no buyers left when the coin hits exchange a week after finishing ICO.
excuse me but 10k BTC ? talking of 6.400.000 US$ come on , what are u guys trying to build ? a new internett or a new currency ! i would take this a notch down, ICO is supposed to get a project started - not a funding until 2030 + new ferrari for the Dev Team !! Ethereum raised 18 million USD in ICO.
Is Komodo developing something novel like ethereum? Why does it need 30K BTC or 18 million USD just to patch up ZCASH protocol on bitcoin blockchain using notary nodes?
The greed is strong with this Dev!!
It depends on what level of the project you mean. There are the mission critical parts, like paying for bitcoin fees and notary nodes.
1000 would be enough for a reduced bitcoin notarization frequency and smaller number of notary nodes, but not a lot of development.
5000 would allow to have the fastest bitcoin notarization frequency, all 64 notary nodes and staff up a group of C coders and GUI devs fulltime for some years
10000 would allow having many LP nodes all fully funded for the lowest trading spreads and many liquid trading pairs
Above this would allow a warchest that can make opportunistic trades, arbitrages and other means to generate working capital and set up a very long term organization of the above. Along with some large scale marketing. Of course, even at the lower funds raised we will be doing marketing, but with a limited budget.
This has been answered before. |
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PondSea
Legendary
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Activity: 1428
Merit: 1000
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October 20, 2016, 02:37:02 AM |
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Ethereum raised 18 million USD in ICO.
Is Komodo developing something novel like ethereum? Why does it need 30K BTC or 18 million USD just to patch up ZCASH protocol on bitcoin blockchain using notary nodes?
The greed is strong with this Dev!!
Where does it say KMD needs to get 30k BTC? That is the maximum to protect investors just in case a huge whale decides to invest. It has already been stated what has been raised up to the point is enough to proceed with Komodo. I would suggest for you to actually do some reading and not make ignorant comments.
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VirtualCloudMining
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October 20, 2016, 04:53:35 AM
Last edit: October 20, 2016, 05:24:45 AM by VirtualCloudMining |
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30K is a freaking lot of BTC. I know it costs money for notary nodes and the development.
But lets be honest KMD will be using already developed technological pieces from other coins. All the dev is doing is patching things up and it does not cost tens of millions USD in funding.
I think Dev is being greedy (want to use the coming ZCASH hype hence the opportune timing of ico) and bit jealous (of Waves developer) hence the 30K BTC cap + 6 million USD worth of BTCD.
This one is gonna be a saturated ICO if more than 5000 BTC are raised.
What is the minimum quantity of BTC that needs to be raised to make the project viable?
It depends on what level of the project you mean. There are the mission critical parts, like paying for bitcoin fees and notary nodes. 1000 would be enough for a reduced bitcoin notarization frequency and smaller number of notary nodes, but not a lot of development. 5000 would allow to have the fastest bitcoin notarization frequency, all 64 notary nodes and staff up a group of C coders and GUI devs fulltime for some years 10000 would allow having many LP nodes all fully funded for the lowest trading spreads and many liquid trading pairs Above this would allow a warchest that can make opportunistic trades, arbitrages and other means to generate working capital and set up a very long term organization of the above. Along with some large scale marketing. Of course, even at the lower funds raised we will be doing marketing, but with a limited budget. 1000 btc which is over $ 600 000 would only result in "... not a lot of development". The majority of the funds could go to the project managers as pure profit with no benefits for the ico investors. But with another 4000 btc, adding up to 5000 btc which is over $ 3 000 000 the ico investors would "... staff up a group of C coders and GUI devs fulltime for some years". "Ideally we can recruit half a dozen high caliber C devs for continued enhancement of the tech, along with a similar number of GUI devs. We will of course manage with less, and we probably have to. Meeting the funding goals would allow us to do rapid development beyond the features we have announced." https://komodoplatform.com/faq/I question the need to pay notary nodes about $ 500 each month. The continuous expenses should be minimized since they add up. "Notary nodes receive a monthly wage of ~$500 (to pay for expenses and as a reward) for the effort and resources contributed. Voters can also use the testnet KMD as one metric in evaluating a notary node. The Komodo platform will require 64 notary nodes to which the vast majority of the 3 KMD block reward is expected to be allocated to. If the market price of the monthly 1/64th share amounts to less than $500, the Komodo team will use the ICO funds to cover the difference." https://steemit.com/komodo/@komodoplatform/notary-node-elections"The primary use of funds is for the dPoW consensus system implementation. In order to secure Komodo blockchain, the Bitcoin transaction fees must be paid. Capital is also needed 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." https://komodoplatform.com/faq/From a altcoin blog, translated from german to english with google translate: https://altcoinspekulant.wordpress.com/2016/09/16/komodo-ico-macht-bitcoindark-btcd-hochinteressant/"For me, James aka jl777 belongs to the clever minds of the cryptoscene, but still does not have a great degree of recognition. This is because James has been concentrating on the Nxt environment for a very long time, which has been successful since 2013, but has remained in a niche and has not been noticed by large parts of the cryptocommunity. The crypto-conglomerate which he created during this time is the same and is difficult for the outsider to see through. Here is only a part of it:"  Launch an ICO for a new coin that has any remotely connection with revenue or any technological evolution and get rich. For example a coin for fast international transactions, a coin that has faster transactions than bitcoin, a coin for further anonymization of transactions, a coin for e-sports competition for ordinary people, casino games, betting, an investment fund for altcoins, a coin that uses revenue for supporting buys at exchanges, a coin for paying people publishing articles at an information site. |
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KomodoPlatform
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October 20, 2016, 05:31:31 AM |
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What's your motivation not to keep the cryptographic toxic waste? You cannot break the privacy. That is great, so no one will try to force you to.
But you can for yourself milk komodo like a cow. Generate yourself a few coins every once in a while. You just would not milk your cow to much so no one notices. Isn't that just way too attractive not to do?
You are mistaken, we will use the Zcash parameters which means that there is no way for our team to get that "toxic waste", i.e. we cannot generate coins. The Zcash team is very capable to generate the parameters. It is enough that one form their team successfully destroys the toxic waste. They will take great care to make sure the process is done right. For those looking more info, see these links: https://bitcointalk.org/index.php?topic=1605144.msg16257692#msg16257692https://bitcointalk.org/index.php?topic=1605144.msg16352842#msg16352842https://z.cash/blog/generating-zcash-parameters.htmlLaunch an ICO for a new coin that has any remotely connection with revenue or any technological evolution and get rich. For example a coin for fast international transactions, a coin that has faster transactions than bitcoin, a coin for further anonymization of transactions, a coin for e-sports competition for ordinary people, casino games, betting, an investment fund for altcoins, a coin that uses revenue for supporting buys at exchanges, a coin for paying people publishing articles at an information site.
You have misunderstood something too. The projects listed on that picture are not coins, they are 'assets'. Assets don't have their own blockchain. The only coin is BTCD, and in the future it will be Komodo. Futhermore, not all assets listed on that chart are related to SuperNET or Komodo. It isn't even the most updated graph, and the most updated graph isn't 100 %up-to-date either. Here's the newest graph containing the SuperNET dividend flows. Many of the assets listed on the graph are projects build on top of SuperNET/Iguana/Komodo... they will be reference applications that showcase the technology we are building. Anyone could use the SuperNET API (called agents) and build on top of our open source technology. EDIT: To make it clear, the revenue flows BTCD was promised are not going to migrate into Komodo. |
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St.Stephan
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October 20, 2016, 05:57:10 AM |
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Ethereum raised 18 million USD in ICO.
Is Komodo developing something novel like ethereum? Why does it need 30K BTC or 18 million USD just to patch up ZCASH protocol on bitcoin blockchain using notary nodes?
The greed is strong with this Dev!!
Where does it say KMD needs to get 30k BTC? That is the maximum to protect investors just in case a huge whale decides to invest. It has already been stated what has been raised up to the point is enough to proceed with Komodo. I would suggest for you to actually do some reading and not make ignorant comments. oh c'mon that would reduce the page count on this forum by about 90% |
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no1dead
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October 20, 2016, 05:59:17 AM |
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Ethereum raised 18 million USD in ICO.
Is Komodo developing something novel like ethereum? Why does it need 30K BTC or 18 million USD just to patch up ZCASH protocol on bitcoin blockchain using notary nodes?
The greed is strong with this Dev!!
I remember greedy jl777 raised 5k btc from supernet, used the money for his lambo.  |
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VirtualCloudMining
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October 20, 2016, 06:37:58 AM |
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Here's the newest graph containing the SuperNET dividend flows. Many of the assets listed on the graph are projects build on top of SuperNET/Iguana/Komodo... they will be reference applications that showcase the technology we are building. Anyone could use the SuperNET API (called agents) and build on top of our open source technology. EDIT: To make it clear, the revenue flows BTCD was promised are not going to migrate into Komodo.  |
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VirtualCloudMining
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October 20, 2016, 06:41:33 AM |
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Launch an ICO for a new coin that has any remotely connection with revenue or any technological evolution and get rich. For example a coin for fast international transactions, a coin that has faster transactions than bitcoin, a coin for further anonymization of transactions, a coin for e-sports competition for ordinary people, casino games, betting, an investment fund for altcoins, a coin that uses revenue for supporting buys at exchanges, a coin for paying people publishing articles at an information site.
You have misunderstood something too. The projects listed on that picture are not coins, they are 'assets'. Assets don't have their own blockchain. The only coin is BTCD, and in the future it will be Komodo. Futhermore, not all assets listed on that chart are related to SuperNET or Komodo. I meant that in general ICOs are a way to get extremely overpaid for the coin management. |
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PondSea
Legendary
Offline
Activity: 1428
Merit: 1000
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October 20, 2016, 06:53:21 AM |
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Launch an ICO for a new coin that has any remotely connection with revenue or any technological evolution and get rich. For example a coin for fast international transactions, a coin that has faster transactions than bitcoin, a coin for further anonymization of transactions, a coin for e-sports competition for ordinary people, casino games, betting, an investment fund for altcoins, a coin that uses revenue for supporting buys at exchanges, a coin for paying people publishing articles at an information site.
You have misunderstood something too. The projects listed on that picture are not coins, they are 'assets'. Assets don't have their own blockchain. The only coin is BTCD, and in the future it will be Komodo. Futhermore, not all assets listed on that chart are related to SuperNET or Komodo. I meant that in general ICOs are a way to get extremely overpaid for the coin management. That will be news to James. He has been working 16 hours a day for over 2 years without getting paid. |
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VirtualCloudMining
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October 20, 2016, 06:54:46 AM |
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Launch an ICO for a new coin that has any remotely connection with revenue or any technological evolution and get rich. For example a coin for fast international transactions, a coin that has faster transactions than bitcoin, a coin for further anonymization of transactions, a coin for e-sports competition for ordinary people, casino games, betting, an investment fund for altcoins, a coin that uses revenue for supporting buys at exchanges, a coin for paying people publishing articles at an information site.
You have misunderstood something too. The projects listed on that picture are not coins, they are 'assets'. Assets don't have their own blockchain. The only coin is BTCD, and in the future it will be Komodo. Futhermore, not all assets listed on that chart are related to SuperNET or Komodo. I meant that in general ICOs are a way to get extremely overpaid for the coin management. That will be news to James. He has been working 16 hours a day for over 2 years without getting paid. Now is apparently the time to cash in. |
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jd1959
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October 20, 2016, 07:01:40 AM |
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EDIT: To make it clear, the revenue flows BTCD was promised are not going to migrate into Komodo.
That is the most disappointing thing I've heard all week.....no more staking and now no more revenue flows....such is life Cheers Jon  |
dICO Disguised Instant Cash Out |
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boomboom
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October 20, 2016, 07:24:47 AM |
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EDIT: To make it clear, the revenue flows BTCD was promised are not going to migrate into Komodo.
That is the most disappointing thing I've heard all week.....no more staking and now no more revenue flows....such is life Cheers Jon The BTCD revenues go to the BTCD rev asset that gets created from a BTCD snapshot after the ico finishes |
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PondSea
Legendary
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Activity: 1428
Merit: 1000
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October 20, 2016, 07:25:40 AM |
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EDIT: To make it clear, the revenue flows BTCD was promised are not going to migrate into Komodo.
That is the most disappointing thing I've heard all week.....no more staking and now no more revenue flows....such is life Cheers Jon There might be some misunderstanding here. The revenue share that was supposed to be given to BTCD holders will be migrated to a asset chain on the Komodo platform. There will be a snapshot taken at about 2 weeks after the ICO to tie the asset chain to the private key of that wallet. Then once the swap is done, you will use the private key of that BTCD wallet to claim the assets. |
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ASNXT
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Activity: 145
Merit: 11
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October 20, 2016, 07:28:40 AM |
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EDIT: To make it clear, the revenue flows BTCD was promised are not going to migrate into Komodo.
That is the most disappointing thing I've heard all week.....no more staking and now no more revenue flows....such is life Cheers Jon There might be some misunderstanding here. The revenue share that was supposed to be given to BTCD holders will be migrated to a asset chain on the Komodo platform. There will be a snapshot taken at about 2 weeks after the ICO to tie the asset chain to the private key of that wallet. Then once the swap is done, you will use the private key of that BTCD wallet to claim the assets. The change will be possible for 1 year. |
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cebb
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October 20, 2016, 07:38:21 AM |
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It is stated that anything abive 10k raised is war chest. What exactly is war chest? Will there be a buy wall at exchange just after coin launch? Will james use the ico btc to protect investors from the initial price drop?
Investors have been burnt recently by over bloated ico like waves. No one buys after coin is launched at exchange. Price drops to half the ico and the investors who funded the ico are called fudders when they demand justification for price drops.
Why not reward the investors by capping ico at 10k btc.
Oh and i have done good reading. And i can read what has not been writeen too. I know why the opportunistic timing of this ico with zcash launch right in the middle of your 5 week ICO.
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boomboom
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October 20, 2016, 07:46:01 AM |
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It is stated that anything abive 10k raised is war chest. What exactly is war chest? Will there be a buy wall at exchange just after coin launch? Will james use the ico btc to protect investors from the initial price drop?
Investors have been burnt recently by over bloated ico like waves. No one buys after coin is launched at exchange. Price drops to half the ico and the investors who funded the ico are called fudders when they demand justification for price drops.
Why not reward the investors by capping ico at 10k btc.
Oh and i have done good reading. And i can read what has not been writeen too. I know why the opportunistic timing of this ico with zcash launch right in the middle of your 5 week ICO.
afaik the majority of ICO funds goes to paying notary node fees for 10 years, investors who need price support shouldn't really invest, more risk than they can cope with |
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cebb
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October 20, 2016, 07:53:24 AM |
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It is stated that anything abive 10k raised is war chest. What exactly is war chest? Will there be a buy wall at exchange just after coin launch? Will james use the ico btc to protect investors from the initial price drop?
Investors have been burnt recently by over bloated ico like waves. No one buys after coin is launched at exchange. Price drops to half the ico and the investors who funded the ico are called fudders when they demand justification for price drops.
Why not reward the investors by capping ico at 10k btc.
Oh and i have done good reading. And i can read what has not been writeen too. I know why the opportunistic timing of this ico with zcash launch right in the middle of your 5 week ICO.
afaik the majority of ICO funds goes to paying notary node fees for 10 years, investors who need price support shouldn't really invest, more risk than they can cope with 10k btc is more than enough to pay notary nodes for 10 yearsand develop the coin. Anything above that is going straight to dev and his teams pocket. I am waiting on sidelines on this one by buying btcd instead of investing btc. If this gets crowded i will sell my btcd and stay away frim james and his never ending icos. After all james is not like vitalik who sticks to his project no matter what. As soon as something more interesting comes james will leave kmd investors in dry and raise another ico. In my opinion a dev who sticks to his project for a long time is more reliable than the one who hops at each money grabbing opportunity. |
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KomodoPlatform
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October 20, 2016, 07:54:25 AM |
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I meant that in general ICOs are a way to get extremely overpaid for the coin management.
That will be news to James. He has been working 16 hours a day for over 2 years without getting paid. Now is apparently the time to cash in. jl777 has stated that he won't get paid directly from the ICO funds collected. He said he would invest his own money into the ICO and expect to profit from his investment. For those that have followed him a bit know that he's not really after money, he has bigger goals with this project than to get rich. Of course that's just my observation and I cannot speak for the man himself. 
Funds are reserved for komodo operating costs.
I wont be taking any salary
I expect to make money from my investment stakes
I will be purchasing all my KMD on the same terms as everybody else.
I am not receiving any KMD from the team funds so we can fund as much help as possible.
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