grewalsatinder
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Activity: 186
Merit: 100
Blockchain Technology Enthusiast, IT Pro
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December 25, 2016, 03:25:47 AM |
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Good video, can you explain iguana and ram chains in a later one? Glad you like it. Yes, iguana itself deserves a dedicated video of it's own. I'll cover iguana soon. But before that I'll probably cover topics related to Komodo itself, as those are needing more clarification. such as notary nodes and elections. Satinder
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KomodoPlatform
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December 25, 2016, 11:21:11 AM |
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is it true that komodo funds have been used to participate in the byteball distribution? if so, will we see some of that?
Byteball looks like a promising technology and we consider it as a long term investment. We will use the byteballs for working capital. 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.
- you should encrypt the wallet if you haven't done so already - BTCD privatekey is enough (but in order to send them out you will need to have a fully synced client where you import the keys) - Yes also backup the wallet.dat file
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bctacc32
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Activity: 126
Merit: 100
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December 25, 2016, 12:06:35 PM |
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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? Yes, as for most bitcoin-qt wallet forks: Start with parameter -datadir="D:\...\data"
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ibrahim11
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December 25, 2016, 01:06:22 PM |
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Can't wait for KMD to launch! Only regret was not investing during the ICO bonus period
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kaicrypzen
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December 25, 2016, 01:25:14 PM |
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Can't wait for KMD to launch! Only regret was not investing during the ICO bonus period If you have some BTC to invest then you can buy BTCD, the exchange rate that will be applied to swap BTCD for KMD is better than any bonus you could've gotten if you had invested (a small amount of) BTC during the ICO.
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KomodoPlatform
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December 25, 2016, 01:27:48 PM |
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Can't wait for KMD to launch! Only regret was not investing during the ICO bonus period On the contrary to what many people believe... it is still possible to invest in KMD even though the ICO is over. You can just buy BTCD, and depending on its market price you might get a good bonus compared to what people paid during the ICO. The BTCD price has declined along with the other altcoins while the BTC price has risen. The KMD price during the ICO with 0% bonus: 1 BTC = 7746,521995 KMD BTCD swap rate: 1 BTCD = 50,42041779 KMD 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)
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cyrixcer
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December 25, 2016, 01:32:37 PM |
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Can't wait for KMD to launch! Only regret was not investing during the ICO bonus period On the contrary to what many people believe... it is still possible to invest in KMD even though the ICO is over. You can just buy BTCD, and depending on its market price you might get a good bonus compared to what people paid during the ICO. The BTCD price has declined along with the other altcoins while the BTC price has risen. The KMD price during the ICO with 0% bonus: 1 BTC = 7746,521995 KMD BTCD swap rate: 1 BTCD = 50,42041779 KMD 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)
I see 1 btc worth btcd is about 14k kmd, so buy kmd to sawp is better than btc investment? And we need to withdraw them? The date of snapshot?
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ibrahim11
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December 25, 2016, 01:46:26 PM |
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Can't wait for KMD to launch! Only regret was not investing during the ICO bonus period If you have some BTC to invest then you can buy BTCD, the exchange rate that will be applied to swap BTCD for KMD is better than any bonus you could've gotten if you had invested (a small amount of) BTC during the ICO. Damn, I don't have any more fiat to buy btc
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KomodoPlatform
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December 25, 2016, 01:53:54 PM |
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I see 1 btc worth btcd is about 14k kmd, so buy kmd to sawp is better than btc investment? And we need to withdraw them? The date of snapshot?
Yes, that is what the math currently says. We will announce the date for the snapshot when we know it. The swap will happen through our ICO site.
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ibrahim11
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December 25, 2016, 07:04:51 PM |
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Can't wait for KMD to launch! Only regret was not investing during the ICO bonus period If you have some BTC to invest then you can buy BTCD, the exchange rate that will be applied to swap BTCD for KMD is better than any bonus you could've gotten if you had invested (a small amount of) BTC during the ICO. Thats slightly annoying I got 3850 komodo for 0.5 btc investment in ICO (no bonus) but if I bought BTCD and swap it then I could get 6800 KMD ((
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tclo
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December 25, 2016, 10:17:36 PM |
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Got to think that when the swap is actually open and ready for business, then BTCD should see a bump in price. I am trying to accumulate all I can at these current levels. Of course nothing is guaranteed, but it's a risk I am willing to take.
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tclo
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December 26, 2016, 12:00:47 AM Last edit: December 26, 2016, 12:45:35 AM by tclo |
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I see 1 btc worth btcd is about 14k kmd, so buy kmd to sawp is better than btc investment? And we need to withdraw them? The date of snapshot?
What are you basing that on? The current BTCD price? Right now BTCD is trading at .00375. So 1 BTC will buy you 266.67 BTC. The swap rate is approximately 50.4488 KMD per BTC. So 266.67 x 50.4488 = 13333.33 KMD per BTC (through BTCD swap). And the BTCD price is fluctuating between .0033 and .0041 recently, so I suspect your calculations were made when BTCD was a little lower. KMD ICO ratio was 7746.522 at the end without the bonus. BTC was 20% lower then in USD terms. So 20% extra is 9295.8263. So you still do better right now buying BTCD than you would have during the end of the ICO, with no bonus. However BTC went up 40% since the start of the ICO on Oct 15. So that means 7746.522 * 1.4 = 10845.1308 + 25% bonus = 13556.4135 KMD. So that is actually 1.5% more KMD than you would receive at start of ICO than right now buying BTCD at .00375 and swapping it. So those who bought at the beginning of the ICO probably did better than if buying BTCD to swap right now...especially if they were buying a considerable amount. BTCD volume on Poloniex is so small that you can't even buy 1 BTC worth, without shooting the price up 10% or more.
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animalroam
Legendary
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Activity: 1073
Merit: 1000
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December 26, 2016, 12:50:45 AM |
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I see 1 btc worth btcd is about 14k kmd, so buy kmd to sawp is better than btc investment? And we need to withdraw them? The date of snapshot?
What are you basing that on? The current BTCD price? Right now BTCD is trading at .00375. So 1 BTC will buy you 266.67 BTC. The swap rate is approximately 50.4488 KMD per BTC. So 266.67 x 50.4488 = 13333.33 KMD per BTC (through BTCD swap). And the BTCD price is fluctuating between .0033 and .0041 recently, so I suspect your calculations were made when BTCD was a little lower. KMD ICO ratio was 7746.522 at the end without the bonus. BTC was 20% lower then in USD terms. So 20% extra is 9295.8263. So you still do better right now buying BTCD than you would have during the end of the ICO, with no bonus. However BTC went up 40% since the start of the ICO on Oct 15. So that means 7746.522 * 1.4 = 10845.1308 + 25% bonus = 13556.4135 KMD. So that is actually 1.5% more KMD than you would receive at start of ICO than right now buying BTCD at .00375 and swapping it. So those who bought at the beginning of the ICO probably did better than if buying BTCD to swap right now...especially if they were buying a considerable amount. BTCD volume on Poloniex is so small that you can't even buy 1 BTC worth, without shooting the price up 10% or more. It really depends whether you base your calculations on Bitcoin or USD as a stable medium. I personally base all my calculations on Bitcoin because I don't convert between USD and BTC. If you base your calculations on BTC (i.e. you already had the BTC and have no intentions of exchanging it to USD) you will do better by swapping BTCD, but if you bought BTC just for the ICO then you would've done better in the beginning of the ICO since your base is USD.
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tclo
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December 26, 2016, 06:20:59 AM |
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It really depends whether you base your calculations on Bitcoin or USD as a stable medium. I personally base all my calculations on Bitcoin because I don't convert between USD and BTC. If you base your calculations on BTC (i.e. you already had the BTC and have no intentions of exchanging it to USD) you will do better by swapping BTCD, but if you bought BTC just for the ICO then you would've done better in the beginning of the ICO since your base is USD.
Whether you already had BTC or bought it for the ICO doesn't change anything in my calculations above. But of course if you disregard fiat entirely, then it's even a better deal now to buy BTCD than to have bought during the ICO, beginning or end. However few people don't care about the fiat value of their BTC or BTCD or KMD. And if you ever spend BTC, then it's real world purchasing power is based on it's value in fiat, so it's certainly relevant.
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CryptoNick
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Activity: 987
Merit: 1003
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December 26, 2016, 06:45:38 AM |
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I see 1 btc worth btcd is about 14k kmd, so buy kmd to sawp is better than btc investment? And we need to withdraw them? The date of snapshot?
What are you basing that on? The current BTCD price? Right now BTCD is trading at .00375. So 1 BTC will buy you 266.67 BTC. The swap rate is approximately 50.4488 KMD per BTC. So 266.67 x 50.4488 = 13333.33 KMD per BTC (through BTCD swap). And the BTCD price is fluctuating between .0033 and .0041 recently, so I suspect your calculations were made when BTCD was a little lower. KMD ICO ratio was 7746.522 at the end without the bonus. BTC was 20% lower then in USD terms. So 20% extra is 9295.8263. So you still do better right now buying BTCD than you would have during the end of the ICO, with no bonus. However BTC went up 40% since the start of the ICO on Oct 15. So that means 7746.522 * 1.4 = 10845.1308 + 25% bonus = 13556.4135 KMD. So that is actually 1.5% more KMD than you would receive at start of ICO than right now buying BTCD at .00375 and swapping it. So those who bought at the beginning of the ICO probably did better than if buying BTCD to swap right now...especially if they were buying a considerable amount. BTCD volume on Poloniex is so small that you can't even buy 1 BTC worth, without shooting the price up 10% or more. Don't forget to take into consideration of what a KMD will be worth vs BTC. People who spent their BTC in the ICO are now Locked in and can't sell BTC or KMD. But when KMD hits the market the price will reflect this increase also. No one would buy KMD in the ICO and just lose money in the market. This brings and interesting question though since KMD is supposed to make a Decentralized Exchange, so how do you get to Fiat in a Decentralized Exchange? Do you have to go to CoinBase? Do you use Tether and then pretend like you have Fiat?
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jl777 (OP)
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Activity: 1176
Merit: 1134
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December 26, 2016, 07:13:14 AM |
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I see 1 btc worth btcd is about 14k kmd, so buy kmd to sawp is better than btc investment? And we need to withdraw them? The date of snapshot?
What are you basing that on? The current BTCD price? Right now BTCD is trading at .00375. So 1 BTC will buy you 266.67 BTC. The swap rate is approximately 50.4488 KMD per BTC. So 266.67 x 50.4488 = 13333.33 KMD per BTC (through BTCD swap). And the BTCD price is fluctuating between .0033 and .0041 recently, so I suspect your calculations were made when BTCD was a little lower. KMD ICO ratio was 7746.522 at the end without the bonus. BTC was 20% lower then in USD terms. So 20% extra is 9295.8263. So you still do better right now buying BTCD than you would have during the end of the ICO, with no bonus. However BTC went up 40% since the start of the ICO on Oct 15. So that means 7746.522 * 1.4 = 10845.1308 + 25% bonus = 13556.4135 KMD. So that is actually 1.5% more KMD than you would receive at start of ICO than right now buying BTCD at .00375 and swapping it. So those who bought at the beginning of the ICO probably did better than if buying BTCD to swap right now...especially if they were buying a considerable amount. BTCD volume on Poloniex is so small that you can't even buy 1 BTC worth, without shooting the price up 10% or more. Don't forget to take into consideration of what a KMD will be worth vs BTC. People who spent their BTC in the ICO are now Locked in and can't sell BTC or KMD. But when KMD hits the market the price will reflect this increase also. No one would buy KMD in the ICO and just lose money in the market. This brings and interesting question though since KMD is supposed to make a Decentralized Exchange, so how do you get to Fiat in a Decentralized Exchange? Do you have to go to CoinBase? Do you use Tether and then pretend like you have Fiat? pax is a decentralized fiat equivalent, there is no third party needed. In fact, there isnt even a second party for KMD <-> pax fiat. you do those with paxdeposit and paxredeem API calls. as far as converting to real fiat, we need to stay away from directly doing that. just use localbitcoins to convert BTC <-> real fiat. the DEX can trade pax fiat <-> pax fiat, creating a decentralized forex and of course KMD <-> BTC can be done with liquidity enhanced DEX using LP nodes <-> central exchanges. Only the LP nodes are directly interacting with the central exchanges. Our DEX is not a token based DEX, that is tech we pioneered 2 years ago using NXT AE + MGW, but now it is time for native DEX. Our DEX is a native DEX where there is no intermediate token needed. New blockchains can be created from the ./komodod command line and these are all zcash forks which plug right into the native DEX. Optionally dPoW can be enabled for them with agreements from notary nodes. I think most have missed the fact that this native DEX based ecosystem already solves the scaling problem as overall capacity can be increased just by spawning new blockchains. native DEX can then allow tokens to flow between the chains based on market price or 1:1 pegs or pricefeeds. The advantage to this loosely coupled blockchains are that if any single chain goes DOA, only that chain is directly affected. It wont drag the entire ecosystem down. Privacy via zcash Security via bitcoin (dPoW) Liquidity via native DEX + LP (liquidity provider) nodes <-> central exchanges Price stability via pax fiat equivalents Scalability via assetchains Smart chain capability - requires customized assetchains, pax is an example Did I miss a mass market requirement? Oh, yes. easy to use GUI and installer. The way the ICO fund raising was front loaded due to the biggest bonuses, most of the funds came in when KMD was perceived as zcash clone + dPoW. So, even as more and more of the tech roadmap was revealed and deployed in the testnet, the pricing was mostly set. Now, is a crypto ecosystem that solves all the mass marketability requirements worth closer to $10 mil or $100 mil marketcap? That is the question that the market will answer as the testnet becomes the mainchain and KMD is distributed and trading starts. Even after all the above is released, we do still need a few actual reference implementations of a mass market dapp. I will be porting the pangea decentralized poker into KMD next year. Since all the assetchains are based on the komodo codebase, which originated with bitcoin codebase, any bitcoin fork developer (almost all altcoins) can create customized smart chains by using the komodo codebase.
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akhavr
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December 26, 2016, 09:35:31 AM |
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I think most have missed the fact that this native DEX based ecosystem already solves the scaling problem as overall capacity can be increased just by spawning new blockchains. native DEX can then allow tokens to flow between the chains based on market price or 1:1 pegs or pricefeeds.
This whould be a killer, IMO. I hope there would be good documentation on how to do this, so, say, I would be able to create zero-knowledge token, pegged to a local currency and instantly available on DEX.
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jl777 (OP)
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Merit: 1134
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December 26, 2016, 10:04:13 AM |
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I think most have missed the fact that this native DEX based ecosystem already solves the scaling problem as overall capacity can be increased just by spawning new blockchains. native DEX can then allow tokens to flow between the chains based on market price or 1:1 pegs or pricefeeds.
This whould be a killer, IMO. I hope there would be good documentation on how to do this, so, say, I would be able to create zero-knowledge token, pegged to a local currency and instantly available on DEX. ./komodod -ac_name=YOURTOKEN -ac_supply=1000000 -gen ./komodod -ac_name=YOURTOKEN -ac_supply=1000000 do the above command line on two different nodes. The -gen node will mine 100 blocks. At that point, the blocks are on-demand so if no tx, then no blocks. You will be able to DEX YOURTOKEN based on the YOURTOKEN name. We will need to have some way to resolve name collisions, but if the ac_name and ac_supply are the same, it is the same chain. the above command line autogenerates genesis, etc. and issues 1 million YOURTOKEN coins. it is zero-knowledge enabled. however the fiat pegging is limited to the pax fiat chains. It requires a decentralized gateway and notary nodes, so not something that can be a standalone assetchain
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tclo
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December 26, 2016, 10:28:28 AM |
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BTCD is creeping up on Polonex, although still mainly in the .0036 to .0041 range on low volume. But at least a big buyer with bids at .0036. There really are no big sellers on the ask size with more than 1 BTC worth until you get to .0043 and then just 1.75 BTC worth.
But difficult to draw many conclusions with volume so low. I am loaded up on BTCD though and ready for the snapshot and then the swap.
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Wapinter
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Merit: 1026
Hire me for Bounty Management
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December 26, 2016, 10:34:01 AM |
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BTCD is creeping up on Polonex, although still mainly in the .0036 to .0041 range on low volume. But at least a big buyer with bids at .0036. There really are no big sellers on the ask size with more than 1 BTC worth until you get to .0043 and then just 1.75 BTC worth.
But difficult to draw many conclusions with volume so low. I am loaded up on BTCD though and ready for the snapshot and then the swap.
No doubt KMD swap will push up BTCD price.Why kmd opt to promote BTCD?
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