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

[cebb]

To jl777

So your answer for a project who had its own ICO but is stagnated or just failed is to make another ICO asking for more money so you can waste them and be bankrupt again? Nice strategy there!  Just keep asking for more money once your tech fails and you will never be bankrupt!

Stupid people investing on shit projects with people who have proved to be only gold diggers.

SuperNET has been successful in 2016 ----> 790+ BTC profit from just 3 investments: Iota, Waves, Stratis

SuperNET's investments into Heat and Komodo look like winners too

Exciting to see the vision and all the tech that has been in development over the years coming together with Komodo

 A glance at fund raised during SuperNET's ICO back in 2014:

1201.4874086 BTC
BTCD rate 0.01252290 BTC 37559.38107027 = 470.3524 BTC equiv
NXT rate 0.00007890 BTC   47088699.1745 = 3715.3 BTC equiv
VRC rate 0.00014073 BTC   435658.49 = 61.31 BTC equiv
VIA rate 0.00029967 BTC   5403 = 1.6191 BTC equiv
CNY rate ¥ 2486 per BTC 713706.73861822 = 287.09 BTC equiv

total BTC equiv = 5737.1589



Current marketcap of SuperNET = 2,738 BTC

That's a whopping loss of 50%.

Its nice stating things in btc terms right....

What is it in fiat?

Should supernet not apend a dime on development?

You are raising BTC for this ICO. So that's how return on ICO should be counted.

[PondSea]

To jl777

So your answer for a project who had its own ICO but is stagnated or just failed is to make another ICO asking for more money so you can waste them and be bankrupt again? Nice strategy there!  Just keep asking for more money once your tech fails and you will never be bankrupt!

Stupid people investing on shit projects with people who have proved to be only gold diggers.

SuperNET has been successful in 2016 ----> 790+ BTC profit from just 3 investments: Iota, Waves, Stratis

SuperNET's investments into Heat and Komodo look like winners too

Exciting to see the vision and all the tech that has been in development over the years coming together with Komodo

 A glance at fund raised during SuperNET's ICO back in 2014:

1201.4874086 BTC
BTCD rate 0.01252290 BTC 37559.38107027 = 470.3524 BTC equiv
NXT rate 0.00007890 BTC   47088699.1745 = 3715.3 BTC equiv
VRC rate 0.00014073 BTC   435658.49 = 61.31 BTC equiv
VIA rate 0.00029967 BTC   5403 = 1.6191 BTC equiv
CNY rate ¥ 2486 per BTC 713706.73861822 = 287.09 BTC equiv

total BTC equiv = 5737.1589



Current marketcap of SuperNET = 2,738 BTC

That's a whopping loss of 50%.

Its nice stating things in btc terms right....

What is it in fiat?

Should supernet not apend a dime on development?

You are raising BTC for this ICO. So that's how return on ICO should be counted.

Why would you compare the previous ICO for Supernet when this one is for Komodo?

Supernet is Supernet, Komodo is Komodo?

[MoveCrypto]

To jl777

So your answer for a project who had its own ICO but is stagnated or just failed is to make another ICO asking for more money so you can waste them and be bankrupt again? Nice strategy there!  Just keep asking for more money once your tech fails and you will never be bankrupt!

Stupid people investing on shit projects with people who have proved to be only gold diggers.

SuperNET has been successful in 2016 ----> 790+ BTC profit from just 3 investments: Iota, Waves, Stratis

SuperNET's investments into Heat and Komodo look like winners too

Exciting to see the vision and all the tech that has been in development over the years coming together with Komodo

 A glance at fund raised during SuperNET's ICO back in 2014:

1201.4874086 BTC
BTCD rate 0.01252290 BTC 37559.38107027 = 470.3524 BTC equiv
NXT rate 0.00007890 BTC   47088699.1745 = 3715.3 BTC equiv
VRC rate 0.00014073 BTC   435658.49 = 61.31 BTC equiv
VIA rate 0.00029967 BTC   5403 = 1.6191 BTC equiv
CNY rate ¥ 2486 per BTC 713706.73861822 = 287.09 BTC equiv

total BTC equiv = 5737.1589



Current marketcap of SuperNET = 2,738 BTC

That's a whopping loss of 50%.

BTC price was $497 when SuperNET ico started: (5737 BTC × $497) = $2.85 million

Net-asset-value of SuperNET is currently 4000 BTC: (4000 BTC × $694)  = $2.78 million
http://www.supernet.org/nav.php

Not bad considering all the funds that were used for development and lost in BTER hack

I'm betting on the people who have been on a winning streak throughout 2016.

Let's talk again after we see how Heat and Komodo investments do in 2017.

[cebb]

Why would you compare the previous ICO for Supernet when this one is for Komodo?

Supernet is Supernet, Komodo is Komodo?

And James is James.  He will fail to provide returns to investors for this ICO also.

And then he will find some other crypto derivative to make another ICO asking for more money.

And the saga continues.

[PondSea]

Why would you compare the previous ICO for Supernet when this one is for Komodo?

Supernet is Supernet, Komodo is Komodo?

And James is James.  He will fail to provide returns to investors for this ICO also.

And then he will find some other crypto derivative to make another ICO asking for more money.

And the saga continues.

First rule of investing is history does not predict the future.

How many startups generate a profit or sustain its nav in crypto?

[l8orre]

You are raising BTC for this ICO. So that's how return on ICO should be counted.

just some random wanker that dropped out of crypto for 2 years and now wastes bandwidth randomly fudding other peoples projects.

[KomodoPlatform]

I am having some serious issues with 2FA here.

1. I already had my passphrase backed up and saved + BTC and KMD addresses setup. Upon new login today, it gives me new passphrase generation. No old addresses there of cause. Why?
     I was planning to invest on the last week. Now this? Little help?

2. Everywhere I see this:
     "The following 12 word passphrase was securely generated in your browser.<br/>You MUST write down this passphrase and keep it secure.<br/>If you FAIL to safe this passphrase, you will NOT be able to claim your Komodo at launch.<br/>You will LOSE all your money!"

Yes, <br> like in brrrr, not really professional if you ask me.

3. It lets me activate 2FA and backup the seed, and that's it. No confirmation. Just "please follow the steps below:" and blank space after that. I've got 3 accounts setup on my phone already, doesn't work. Not even asking 2FA on login. (IE and Chrome)
       And new passphrase confirmation every time I login

Please take care of all those mistakes ASAP, the end of the ICO is so close and it looks like a job half done.

Hey,

Please send a PM and share the ICO email, and the BTC deposit address. I'll send it to the devs and they will take a look.

Is ICO account required to transform BTCD into KMD? If yes, will registration be closed after ICO end as they did with WAVES?

You will be able to swap for one full year, no worries. Everyone can swap, even if they do not know about Komodo ICO and would read the news 6 months from now.

[KomodoPlatform]

Regarding the discussion about SuperNET ICO... if you look at what has been achieved today, it should be clear that SuperNET is a success.

SuperNET was a startup, and like any startup it did have risks. Many startups run out of funds, hit the wall, not able to deliver, and then slowly fade away until they are forgotten. After 2 years SuperNET is still here and not going anywhere.

How did the team manage the funds? Very strict budget use, which allowed the project to survive many crisis, adapt, and adjust its goals and roadmap.

Were investor's interest protected? Yes: conservative expenditures and projects did not get abandoned. Best example: BTCD.

What has SN delivered? The Iguana codebase, which jl777 developed for 2 years. Now everything is possible: atomic swaps, pegged assets, assetchains, smartchains, dPoW, etc.


What if someone would start developing our current roadmap from scratch... how long would it take to complete? Two years sound pretty fast considering the scale and potential problems & obstacles. If you have followed SuperNET for the past two years, you are aware that there has been problems & obstacles. However, now the hardest problems are solved, backend is ready, only some bugs remain.

SuperNET and Komodo have great future prospects, and a strong history to show for. Of course there has been some setbacks too, but any entrepreneur or startup could tell us that no one can avoid all failures and setbacks.

Today SuperNET & Komodo are about to succeed, and Komodo is benefiting from the hard work SuperNET and jl777 have done during the past two years. Because of the strong basis our development has been really fast. We almost have a fully working product even before the ICO is over, and we included some bonus features that really were not on the initial roadmap. What are those? DEX, pegged assets, assetchains.

So what is SuperNET and what does it have to do with Komodo? SuperNET is a horizontally run organization that is building open source technology. It's main product is called 'Iguana', and now we are upgrading its infrastructure coin from BTCD to Komodo. SuperNET is not a coin, but just an asset listed on the Nxt Asset Exchange.

[yassin54]

2 hours left to receive a 5% bonus, be part of our ICO.

https://ico.komodoplatform.com/

Twitter : https://twitter.com/KomodoPlatform/status/797786110164430848

Reddit : https://www.reddit.com/r/komodoplatform/comments/5cpucl/2_hours_left_to_receive_a_5_bonus_be_part_of_our/

Facebook : https://www.facebook.com/KomodoPlatform/photos/a.330322533980991.1073741828.321638648182713/363225067357404/?type=3&theater

News SuperNET : http://news.supernet.org/posts/Z8XjecSYxDrJkxD2J/2-hours-left-to-receive-a-5-bonus-be-part-of-our-ico

[cebb]

You are raising BTC for this ICO. So that's how return on ICO should be counted.

just some random wanker that dropped out of crypto for 2 years and now wastes bandwidth randomly fudding other peoples projects.

This random wanker has been here since the NXT ico and have seen many good opportunities and many sureshot failures. KMD would have been a fantastic ICO if the ico was capped at a reasonable 5k or even 10k btc. It would have been over in few days.  

But james is greedy, opportunistic ( kmd ico started 3 weeks before zcash and ends 3 weeks after zcash launch. Coincidence??) and jealous (of his mate sasha from waves who raised 30k btc) and he is paying the price for it.

As for my involvement in kmd ico i am on sidelines. I have bought btcd but wont hesitate to sell all btcd if the ico raised > 10k btc.

[loremipsum]

I am aaking this again as nobody replied. Maybe jl777 could think about it.

I have read in previous posts that KOMODO will use the same parameters from the trusted setup like Zcash. Wouldn't it be better to generate our own trusted setup? KOMODO will be a very well funded project and could gather some highly trusted people in a controlled environment to perform the trusted setup. This way it can differentiate itself from Zcash and also build credibility.

[KomodoPlatform]

An interesting conversation happened today in the #notarynode channel





Currently the KMD exchange rate is set to 0.0001 BTC, which means it did cost ~0.1 KMD to get ~0.01 USD.



PaxEUR is not a real EUR, but a crypto that matches EUR's value

There needs to be a conversion from pax ->KMD -> BTC -> fiat
 - pax -> KMD is via paxwithdraw
 - KMD -> BTC via DEX
 - BTC -> fiat would be via localbitcoins




More detailed explanation

1. Paxdeposit converts KMD into the specified fiat coins in the fiat assetchain (paxprice shows the current conversion price)
2. The KMD disappears from the komodo chain and reappears as the fiat coins
3. Once the coin is in the fiat chain, it is usable as any altcoin, it just happens to have value of the fiat
4. On paxwithdraw (done on fiat chain), it disappears from the fiat chain and reappears as KMD on the komodo chain

The process is somewhat similar to sidechains, except that instead of 1:1 value it uses the fiat value.

Question

Ok, so if a lot of people want paxUSD then the KMD supply will decrease? The more usage, the smaller supply. Can the market run out of KMD if paxUSD becomes really big?
 
or will the price of KMD just keep rising as there's more demand and less supply?

Yes, but impossible to know for sure how the market will value things.

If people assign X marketcap to 100% of KMD supply and the KMD supply is reduced 50%, the price per KMD should double. However, will the 50% that is in pax form be attributed to any of the KMD marketcap? At the microeconomic level, lower supply and greater demand means higher prices

Question

There's one thing however I still try to wrap my head around: is it possible there would be a scenario where there would not be enough locked KMD in PAX.

- let's say I deposit 1000 KMD ($100) to PAX and get $100 to myself -> later I redeem it back, but the KMD price has doubled, so I get only 500 KMD ($100). Thus 500 KMD is still locked in PAX?
- It could happen the other way around: I deposit 1000 KMD ($100) to PAX and get $100 to myself -> later I redeem it back, but the KMD price has fallen, so I get 2000 KMD ($100).

Is there a risk that the locked PAX "account" would run out of KMD? Or will the balance be ensured through some interest payment scheme like described in the origianl PAX materials? http://bitcoindark.com/pax-faq.html#q1

To prevent the overall coin supply from rising above its pre-set limit, users are incentivised to take the opposing trade through variable interest rates.

Initially there will be max exposure limits, so except in a case where KMD price would go to zero (and nothing would work in such case), there will be enough.

The opposite situation where KMD price would rise is no problem, it would just build capital, i.e. profits.

Also the new version "PAX2" will have the dynamic balancing enabled which will allow people to create interest paying savings account and also to be able to short any of the pax fiats. As long as there is active creation of positions biased via incentives, things move closer to balance so that price moves are compensated for.


Check out Komodo USD Explorer http://148.251.56.52/

[KomodoPlatform]

I am aaking this again as nobody replied. Maybe jl777 could think about it.

I have read in previous posts that KOMODO will use the same parameters from the trusted setup like Zcash. Wouldn't it be better to generate our own trusted setup? KOMODO will be a very well funded project and could gather some highly trusted people in a controlled environment to perform the trusted setup. This way it can differentiate itself from Zcash and also build credibility.

But could we ever manage to make the process more trustworthy? They had prepared for it a long time and used very experienced guys to do it. If we would do the same it would definitely delay our launch.

Would it be worth it?

[jl777]

I am aaking this again as nobody replied. Maybe jl777 could think about it.

I have read in previous posts that KOMODO will use the same parameters from the trusted setup like Zcash. Wouldn't it be better to generate our own trusted setup? KOMODO will be a very well funded project and could gather some highly trusted people in a controlled environment to perform the trusted setup. This way it can differentiate itself from Zcash and also build credibility.

What you suggest is easier said than done.

Who would these highly trusted people be? Who will recruit them and get them to spend the day that it takes to conduct the parameter generation?

I dont see any issues with how zcash generated the parameters, but if there is a practical way to generate our own then I can consider that.

At this point, this is not any high concern. Next year, when protected supply auditing will be available, there will be proof that parameters arent being abused.

I do not believe that the toxic waste exists as I am confident that more than one of the zcash participants is not colluding with all the others. You do realize that ALL of the participants would need to be colluding for the toxic waste to even exist?

And that if there is any funny business with it, there are only the participants that can be the culprits. And since a lot of the participants are highly vested in ZEC, to game the parameters would just cost more than they could gain, ie. it isnt a smart thing to do

[yassin54]

Read a conversation about Komodo's PAX and its potential.

Tweet : https://twitter.com/KomodoPlatform/status/797799154835714052

Reddit (Komodo, Bitcoin, BTC, Cryptocurrency) : https://www.reddit.com/r/Bitcoin/search?q=Read+a+conversation+about+Komodo%27s+PAX+and+its+potential.

Facebook : https://www.facebook.com/KomodoPlatform/posts/363249377354973

News SuperNET : http://news.supernet.org/posts/aTneXLL8egthMP9rx/read-a-conversation-about-komodo-s-pax-and-its-potential

[loremipsum]

I am aaking this again as nobody replied. Maybe jl777 could think about it.

I have read in previous posts that KOMODO will use the same parameters from the trusted setup like Zcash. Wouldn't it be better to generate our own trusted setup? KOMODO will be a very well funded project and could gather some highly trusted people in a controlled environment to perform the trusted setup. This way it can differentiate itself from Zcash and also build credibility.

What you suggest is easier said than done.

Who would these highly trusted people be? Who will recruit them and get them to spend the day that it takes to conduct the parameter generation?

Some trusted people from the bitcointalk forum. ~10 people would be enough. The KOMODO team can choose and recruit them. Or they can be chosen by a poll, again here in the forum. It needs to be as transparent as possible.

I dont see any issues with how zcash generated the parameters, but if there is a practical way to generate our own then I can consider that.

I do not believe that the toxic waste exists as I am confident that more than one of the zcash participants is not colluding with all the others. You do realize that ALL of the participants would need to be colluding for the toxic waste to even exist?

But could we ever manage to make the process more trustworthy? They had prepared for it a long time and used very experienced guys to do it. If we would do the same it would definitely delay our launch.
Would it be worth it?

Yes, I know ALL of them would need to be compromised. There is a 0.00001% possibility of this happening, I agreee with this. But it's not so much of a security problem, but a way to show that KOMODO is not a shadow of Zcash. Performing the trusted setup in a more transparent way can help build a lot of trust in this coin. Again, I don't know the technicals in details so if you think it would delay launch, then its definitely not worth it.

At this point, this is not any high concern. Next year, when protected supply auditing will be available, there will be proof that parameters arent being abused.

Actually I was not aware of a supply auditing. Can you give more info on that?
Thanks

[yassin54]

Last chance Join our ICO between November 14th - 20th 3PM UTC!!

https://ico.komodoplatform.com/

Tweet : https://twitter.com/KomodoPlatform/status/797819827784138752

Reddit Komodo : https://www.reddit.com/r/komodoplatform/comments/5cqc1m/last_chance_join_our_ico_between_november_14th/

Facebook : https://www.facebook.com/KomodoPlatform/photos/a.330322533980991.1073741828.321638648182713/363277264018851/?type=3&theater

News SuperNET : http://news.supernet.org/posts/gCtkP8Xysw2psJ4yX/last-chance-join-our-ico-between-november-14th-20th-3pm-utc

[jl777]

I am aaking this again as nobody replied. Maybe jl777 could think about it.

I have read in previous posts that KOMODO will use the same parameters from the trusted setup like Zcash. Wouldn't it be better to generate our own trusted setup? KOMODO will be a very well funded project and could gather some highly trusted people in a controlled environment to perform the trusted setup. This way it can differentiate itself from Zcash and also build credibility.

What you suggest is easier said than done.

Who would these highly trusted people be? Who will recruit them and get them to spend the day that it takes to conduct the parameter generation?

Some trusted people from the bitcointalk forum. ~10 people would be enough. The KOMODO team can choose and recruit them. Or they can be chosen by a poll, again here in the forum. It needs to be as transparent as possible.

I dont see any issues with how zcash generated the parameters, but if there is a practical way to generate our own then I can consider that.

I do not believe that the toxic waste exists as I am confident that more than one of the zcash participants is not colluding with all the others. You do realize that ALL of the participants would need to be colluding for the toxic waste to even exist?

But could we ever manage to make the process more trustworthy? They had prepared for it a long time and used very experienced guys to do it. If we would do the same it would definitely delay our launch.
Would it be worth it?

Yes, I know ALL of them would need to be compromised. There is a 0.00001% possibility of this happening, I agreee with this. But it's not so much of a security problem, but a way to show that KOMODO is not a shadow of Zcash. Performing the trusted setup in a more transparent way can help build a lot of trust in this coin. Again, I don't know the technicals in details so if you think it would delay launch, then its definitely not worth it.

At this point, this is not any high concern. Next year, when protected supply auditing will be available, there will be proof that parameters arent being abused.

Actually I was not aware of a supply auditing. Can you give more info on that?
Thanks

It would be  a hardfork and definitely delay launch to change parameters.

Also generating them is a highly technical process, so even if we have 10 trusted people they might not have the tech skills...

zcash team is planning on adding a total supply audit function next year. That at least allows detection of any foul play and since it is just a low probability event, being able to detect it will put an end to the fudding about it.

That being said, if you want to coordinate finding the trusted 10, then I can encourage that. We just have much higher priority things to do than deal with a fudvector against an infinitesimal probabilty unlikelihood

[loremipsum]

I am aaking this again as nobody replied. Maybe jl777 could think about it.

I have read in previous posts that KOMODO will use the same parameters from the trusted setup like Zcash. Wouldn't it be better to generate our own trusted setup? KOMODO will be a very well funded project and could gather some highly trusted people in a controlled environment to perform the trusted setup. This way it can differentiate itself from Zcash and also build credibility.

What you suggest is easier said than done.

Who would these highly trusted people be? Who will recruit them and get them to spend the day that it takes to conduct the parameter generation?

Some trusted people from the bitcointalk forum. ~10 people would be enough. The KOMODO team can choose and recruit them. Or they can be chosen by a poll, again here in the forum. It needs to be as transparent as possible.

I dont see any issues with how zcash generated the parameters, but if there is a practical way to generate our own then I can consider that.

I do not believe that the toxic waste exists as I am confident that more than one of the zcash participants is not colluding with all the others. You do realize that ALL of the participants would need to be colluding for the toxic waste to even exist?

But could we ever manage to make the process more trustworthy? They had prepared for it a long time and used very experienced guys to do it. If we would do the same it would definitely delay our launch.
Would it be worth it?

Yes, I know ALL of them would need to be compromised. There is a 0.00001% possibility of this happening, I agreee with this. But it's not so much of a security problem, but a way to show that KOMODO is not a shadow of Zcash. Performing the trusted setup in a more transparent way can help build a lot of trust in this coin. Again, I don't know the technicals in details so if you think it would delay launch, then its definitely not worth it.

At this point, this is not any high concern. Next year, when protected supply auditing will be available, there will be proof that parameters arent being abused.

Actually I was not aware of a supply auditing. Can you give more info on that?
Thanks

It would be  a hardfork and definitely delay launch to change parameters.

Also generating them is a highly technical process, so even if we have 10 trusted people they might not have the tech skills...

zcash team is planning on adding a total supply audit function next year. That at least allows detection of any foul play and since it is just a low probability event, being able to detect it will put an end to the fudding about it.

That being said, if you want to coordinate finding the trusted 10, then I can encourage that. We just have much higher priority things to do than deal with a fudvector against an infinitesimal probabilty unlikelihood

Okay, you're right. There's no point if it needs a hardfork and delay launch; and since there will be a Zcash supply audit next year.

[KomodoPlatform]

Update your calculators!

35% bonus: 500 BTC
30% bonus: 0 BTC
25% bonus: 980 BTC
20% bonus: 606.84 BTC
15% bonus: 286.70 BTC
10% bonus: 38.18 BTC
5% bonus: 21.34 BTC
0% bonus: ?

Based on the current situation:
 - Komodo market cap: $8,000,000
 - Komodo coin price: 0.08 USD/KMD