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

[cryptohunter]

- ICO site accepts BTCD
 - 7 days after that BTCD snapshot happens & the swapping begins
 - Elections begin, and last 2 weeks
 - Elections are over, elected notary nodes will get ratified, KMD will be distributed

so by what date exactly do you need to move your btcd to the ico site to get revs?

Get all BTCD you have in either ICO site or an address you have private key to, within 7 days of when ICO site is open for BTCD deposits. On 7th day dont move your BTCD as snapshot will be taken that day.

So need to check when ICO site can accept btcd I see. I will check periodically. thanks.

I think it will be announced in this thread, so we can just keep checking this thread, that is what i do at least.

Yes I think that you are right. I read here often so I am hoping they announce here too.

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[tclo]

I'm flabbergasted that people don't take 15 minutes or even 5 to read about the swap process. If they did they'd realize they stand to make 100% gains right from the get go if KMD maintains its intrinsic price.

What is your math for 100% gain?  KMD doesn't really have an intrinsic price right now, does it?   Except valued off the 50:1 KMD:BTCD swap value.   

I agree with you though that it's a good calculated risk here to buy BTCD at these prices.  If KMD is going to be 1/10th as successful as many of us think it will, then will definitely be a good investment for those of us who didn't get in on the ICO.

Yeah, you're right. I was basing that on the established BTC to KMD ICO price. 1 BTC worth of BTCD would buy you twice the KMD that 1 BTC did during ICO.

I did some math and does seem like you get more KMD in the end from buying BTCD at around .004 or lower than you did during the end of the ICO.

I'm not sure of the beginning of the ICO but apparently it ended on Nov 20th and BTC was $733 then.  Now BTC is about 23% higher but you get more than 23% extra KMD with BTCD right now.

If you had $10,000 worth of BTC on Nov 20th, that is $10,000/$733 = 13.6425 BTC.  At the ICO exchange rate of 7746.522 KMD/BTC, that means you would get 105,681 KMD

Right now with $10,000 worth of BTC, that is $10,000/$910 = 10.99 BTC.  Say you can somehow buy BTCD at .004 BTCD/BTC.   That is 2747.5 BTCD.   Then multiply that by swap exchange rate of approx 50 KMD per BTCD and you would have 137,375 KMD

So that is 137,375 - 105,681 = 31694 extra KMD or 30% more than if you bought on the last day of the ICO with the same amount of USD (converted to BTC).

I suppose this doesn't matter now that the opportunity of the ICO has passed, but just shows that at current BTCD prices, you are getting a great deal, relative to the ICO price.

Of course the trick is buying BTCD at a low enough price because the liquidity is very poor on Poloniex and that's about the only exchange that has any volume at all. 

I may move some more funds to Poloniex to try to buy a bit more, but I've already loaded up on quite a bit and don't want to overdo it.  I just have a good feeling about KMD though.  The anonymous crypto currencies are the future as governments crack down on Bitcoin users more and more.  XMR, ZEC, KMD all are looking good..maybe DASH too, but I don't know as much about it.

[talikila]

I can not see when KMD is distributed to investors. I 'm waiting for it so long.
Please tell me how to get it?

[irukandji]

I looked in the OP but could not see.
How do i collect my Komodo from the ICO???

Is there a link. I have the 12 words

[rnr]

I can not see when KMD is distributed to investors. I 'm waiting for it so long.
Please tell me how to get it?

I looked in the OP but could not see.
How do i collect my Komodo from the ICO???

Is there a link. I have the 12 words

Please wait for the Mainnet launch and the claiming process. TBA.

Roadmap:

Right now devs are working on the implementation of the BTCD deposit feature into the ICO homepage. When that´s finish an announcement will ring in the possibility that the ICO site accepts BTCD.

7 days later the BTCD snapshot will happen & the swapping (BTCD > KMD) begins

Than every ICO investor (from BTCD swap AND BTC investments) will be able to vote for notary nodes within 2 weeks

Ongoing, when elections are over the elected notary nodes will get ratified AND KMD will be distributed to the investors!

[jd1959]

I can not see when KMD is distributed to investors. I 'm waiting for it so long.
Please tell me how to get it?

Hurry up and wait

Cheers Jon

[tclo]

I looked in the OP but could not see.
How do i collect my Komodo from the ICO???

Is there a link. I have the 12 words

Read the last two or three pages of this thread and all your answers are there.

[tclo]

I'll try to clear out all the uncertainty & misunderstandings

We try to swap all BTCD there exist throughout 1 full year. If someone has BTCD it can be swapped, no matter when it is bought. You could buy BTCD 6 months from now and swap it for KMD.

BTCD Snapshot to get REVS

 - The snapshot is not related to BTCD swap.
 - The snapshot is to get an additional asset called REVS.
 - The privatekeys are used to redeem the asset.
 - The snapshot has not happened yet!
 - to participate the BTCD can be stored either in a BTCD address under your control, or in our ICO site

BTCD Swap to get KMD

 - has nothing to do with the snapshot
 - is done through the ICO site
 - lasts 1 full year
 - swapped BTCD ends up to our account, where it is publicly visible (nothing will happen to the swapped BTCD)
 - hopefully every single BTCD coin will get swapped during the year

Schedule

 - ICO site accepts BTCD
 - 7 days after that BTCD snapshot happens & the swapping begins
 - Elections begin, and last 2 weeks
 - Elections are over, elected notary nodes will get ratified, KMD will be distributed

The conclusion

If you buy BTCD it can be swapped at any time. To also receive the REVS asset you need to have a privatekey that contained BTCD during the snapshot. BTCD swap and snapshot are two separate things.

During the year BTCD can be swapped for KMD with the exchange rate we announced: 1 BTCD = 50.448 KMD (However the exchange rate decreases slightly throughout the year because BTCD staking expands the supply)

[Cyndonald]

I have some BTCD on the bittrex exchange  I do not know how to swap it for KMD?
Please give me a short explain for this . Thank you.

[tvdhyjg]

Greetings. I'm in and watching. Good luck

[KomodoPlatform]

I have some BTCD on the bittrex exchange  I do not know how to swap it for KMD?
Please give me a short explain for this . Thank you.

You can swap it when the BTCD deposit feature is enabled on our ICO site. There's more info in the post above your post.


The situation is still the same as it was before: we are waiting for this one thing. We are sorry for the situation as it has taken quite long to enable the BTCD feature on our ICO site.

As soon as we are ready to move forward we will announce it here, in our social media and via our newsletter.

[KomodoPlatform]

Our developer Satinder Grewal explains Komodo in his newest blog



https://www.youtube.com/watch?v=PIRzyjPF5Bs

Check it out!

[yassin54]

Our developer Satinderjit Singh explains Komodo in his newest blog.

https://www.youtube.com/watch?v=PIRzyjPF5Bs

Twitter : https://twitter.com/KomodoPlatform/status/812636899177361408

Reddit : https://www.reddit.com/r/komodoplatform/comments/5k2uzn/our_developer_satinderjit_singh_explains_komodo/

Facebook : https://www.facebook.com/KomodoPlatform/posts/384466668566577

News SuperNET : http://news.supernet.org/posts/675A65DmbdTBNv7Bt/our-developer-satinderjit-singh-explains-komodo-in-his

[mcfom]

I have some BTCD on the bittrex exchange  I do not know how to swap it for KMD?
Please give me a short explain for this . Thank you.

You can swap it when the BTCD deposit feature is enabled on our ICO site. There's more info in the post above your post.


The situation is still the same as it was before: we are waiting for this one thing. We are sorry for the situation as it has taken quite long to enable the BTCD feature on our ICO site.

As soon as we are ready to move forward we will announce it here, in our social media and via our newsletter.

If someone have BTCD on bittrex than he have to move his funds to your site to swap it. You have to ask from bittrex to do swap for all BTCD holders.

[KomodoPlatform]

I have some BTCD on the bittrex exchange  I do not know how to swap it for KMD?
Please give me a short explain for this . Thank you.

You can swap it when the BTCD deposit feature is enabled on our ICO site. There's more info in the post above your post.


The situation is still the same as it was before: we are waiting for this one thing. We are sorry for the situation as it has taken quite long to enable the BTCD feature on our ICO site.

As soon as we are ready to move forward we will announce it here, in our social media and via our newsletter.

If someone have BTCD on bittrex than he have to move his funds to your site to swap it. You have to ask from bittrex to do swap for all BTCD holders.

Yes, the owner of those coins must swap them through our ICO site. There will be 365 days to do it.

However Bittrex won't do the swap, because it is the choice of the investor if he wants to swap or not. Of course we highly recommend everyone to swap as BTCD won't have any devs left. Komodo is the future!

[CryptoNick]

Will we be able to trade our KMD bought on ICO on january? Delay on development may harm price when KMD get indexed in exchange platform. I am eagerly waiting to trade my KMD.

My opinion on this is , as long as it does not hit on exchanges , the price of KMD remains @ 0.00012909 btc. Considering the rising value of bitcoin, we should be glad 😁

Why not 0.00012908? Is it too low for u to not lose ur temper? Would u go all in on an ultimate short if it crosses 0.00012907?

This is what startles me the most.

There are about 30 people working very close to KMD now including PondSea, mr_e, ludom, James, twin and a rest of not so poor gang coming from NXT. Why is BTCD price is sooo low now? Are you guys dumping them on us to have them back in 2-3 weeks? Or maybe you're out of BTC as the rest of fully loaded us? Or you guys have no trust in your own coin? 200 BTC is not a lot? Well, buy them up.

I am not trying to fud here, but it just does not click. I keep buying as much BTCD as I can and the price only goes lower every day. How is that even possible without huge daily dumps? And who in their right mind would dump when switch is so close? I am probably too paranoid, or too frustrated with what is happening on the pre-KMD market. What do you guys think?

EDIT:  BTW, BTCD price is nearing pre-KMD announcement ...

The BTCD price drop is no body fault...because all alcoins including eth are suffering the same price drop daily when Bitcoin price rise.
This happen because Bitcoin price is rising, so all alcoins price are dropping when Bitcoin rise.

This is not new, this same trend happen last year and previous years...when Bitcoin price rise, all alcoins price will drop.
I guess it because all exchanges depending on Bitcoin to trade for alcoins & fiat, thus all alcoins price will get effected when Bitcoin rise.

Hopefully Bitcoin price will stop rising early next year, then alcoins price including BTCD price will rise again.
So for now just be patience and just wait till it Bitcoin price cool down...

Better to ask why BitCoin price is going up. Bitcoin may do a soft fork to Lightning Network and Smart Contracts even allowing ACCT.

Lightning is a bolt on, no soft fork needed, same with things like RISK for smart contracts. Soft fork will be needed for SegWit if it ever gets support. Not looking good today.

Yes but without SegWit there is no Lightning network= SoftFork... Tx malleability. It is controversial yet there is no other way forward for BitCoin unless they do something which may replicate some of the Komodo functions. Cool thing would be that everyone uses Komodo instead of BitCoin and just use the Blocks to secure Komodo. Huge influx of BitCoin into Komodo...

[belowizard]

is it true that komodo funds have been used to participate in the byteball distribution? if so, will we see some of that?

[tclo]

I apologize for a probably dumb question, but I bought some BTCD and trying to figure out how to store it safely. I am using the BitcoinDark Wallet for Windows (the QT one, I guess) and I used the Console to extract my private keys for the receiving addresses that I have in the wallet with funds on them. 

I assume that's technically all I need to do (keep those private keys secured and safe elsewhere for a backup), but what do I need to backup from the wallet itself?   Just the wallet.dat file?   

Also I wish there was some way to have all the BitcoinDark files on an encrypted drive and not just sitting there on my C drive.  Is there a way to change the settings of the client so it can find the blk001.dat file and the others in a different location? 

I guess I have the private keys written down for my public addresses, I don't really even need to have the Wallet itself installed, but not sure yet and not to that point.

Thanks for any help and I'm looking forward to converting these BTCD to KMD in a few weeks if it's ready by then.

[CryptoSporidium]

Our developer Satinder Grewal explains Komodo in his newest blog



https://www.youtube.com/watch?v=PIRzyjPF5Bs

Check it out!

Good video, can you explain iguana and ram chains in a later one?

[cyrixcer]

Looking good, wait for the mainnet launch and exchange listing, i invested some money in ico, hope a good return