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Author Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B  (Read 1148169 times)
Crypto8man
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December 29, 2016, 05:57:31 PM
 #3301

Hi, there. I wanna to ask something. I deposited Btcs 2 monthes ago and have a profile on the website komodoplatform.com with some KMD Balance.

What can I do right now? Just wait? I don't see any options to withdraw neither I don't know where I can do that )
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December 29, 2016, 06:25:17 PM
 #3302

I had the same thought about byteball, if Komodo can't run itself on the bitcoin that we all put up for this project, then it should have refunded every one of us and said "sorry guys, we can't make this thing fly". It shouldn't have to rely on the byteballs. Giving them back to the komodo investors would have been an awesome loyalty move that has been missed. Now a lot of Komodo investors are (rightly or wrongly) thinking "f*ck you komodo, can't wait to dump my tokens as soon as I can.

Let's not forget the yes, nodes are expensive but btc has just taken a huge hike in value. JL777 is no fool when it comes to crypto trading and I assume he's moving them about for optimum profit and to maximise the budget.

I just think the BB cost nothing so wouldn't cost anything to give them away.

I write this as someone who linked a large amount of btc to the BB project so I'm holding long term. I'm not writing this as someone who missed out on that unique project.

I'm not expecting this post to be addressed by the team as it's been dealt with previously, I just wanted to express my thoughts on the matter.

 
There are a few assumptions here that I am not sure are correct.

First of all, the assumption that it wont cost anything to distribute the BB is incorrect as I am not aware of any built in BB dividend function that can take a snapshot of KMD balance and allocate some amount of BB to it

which means somebody would have to code this. there arent exactly a long line of volunteers who are prepared to create a production usable BB dividend mechanism.

which means it would take time and cost money and also necessarily delay core komodo functionality as it is likely that the staffing needed to do this are already on critical paths. So there would definitely be direct costs and an indeterminate amount of indefinite costs.

Now, I am not sure what market value the KMD's BB stake will be worth. If the value of the BB is 10 to 50 BTC, then after netting out the cost for running the dividend, there wont be that much left over, ie 10 BTC / 100 million -> 10 satoshis per KMD.

So for every 10 BTC of BB value, it is a whopping extra 10 satoshis per KMD. To put this into perspective, if you have 10 million KMD, it will be worth 1 BTC. If you have 1 BTC worth of KMD, it will be worth about .001 BTC

Now, whatever value the BB has it will go toward enhancing KMD, so investors are getting value from it. Based on my estimates the costs for doing the distribution will be in the same order as the value. The only way I would do it is if I had promised that I would and it was an obligation to do so. However, I said that we had to raise the higher end of the ICO for us to do the BB distribution.

What we raised was not sufficient to qualify as the higher end of ICO and we have already had to reduce the notary node subsidies due to this. So it is not like we are swimming in so much money that we can take time and effort away from the main KMD work, to send out money that we would have been be able to use.

Anyway, this question has been asked and answered. Events turned out to not trigger any BB dividend. There are costs associated with doing a dividend and even if I didnt already say that I wouldnt do it, given the current information I have, I still wouldnt do it.

My obligation is to the KMD investors, which means increasing the value of KMD and not spending time and effort distributing out funds that we could very well use in future years. Also, what many seem to forget/ignore is that I stated what conditions were needed to trigger the BB distribution DURING the ICO. To me, that means that people invested in the ICO with the assumption that I would do what I said. If I change that, then it breaks trust with the investors.

Please do not ask me to break trust with the investors. I simply cannot consider it.


"Now a lot of Komodo investors are (rightly or wrongly) thinking "f*ck you komodo, can't wait to dump my tokens as soon as I can. "

No, "a lot" of us are not thinking that, that is not reality. But, for those few who are, please, do it as soon as you can so the rest of us can get back to growing our investment and actually using KMD..

"My obligation is to the KMD investors, which means increasing the value of KMD and not spending time and effort distributing out funds that we could very well use in future years. "

Exactly and, thank you for stating that, it is crux of everything being done here right now. As a KMD investor, ICO and BTCD (when swap is available), I am quite pleased with jl777's integrity and work ethic as well as the progress being made on this project. Those of you complaining, try it yourself. I've been writing code since the early '90s and I know what it takes so, be patient if you want quality and security.

I really wish people would consider what they are about to commit to history by posting in these forums.



  

Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time. Thomas A. Edison
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December 29, 2016, 08:31:19 PM
 #3303

Komodo Marketing Update: Building the Groundwork.



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December 29, 2016, 08:34:23 PM
 #3304

Hi, there. I wanna to ask something. I deposited Btcs 2 monthes ago and have a profile on the website komodoplatform.com with some KMD Balance.

What can I do right now? Just wait? I don't see any options to withdraw neither I don't know where I can do that )

Yes just wait for the elections to start... and after those we will distribute the KMD.

There's is one thing you should do right now though, and we have said it before, but it is important so I'll say it again and again Smiley

Verify your seed/passphrase!

Go to the komodo ICO site and make sure the KMD address you see there matches with the seed/passphrase you have saved. Then make sure you keep it in safe place, and remember that we don't have your seed! You are responsible for your own money, and after the KMD distribution there is no way to undo what is done.

If you lose your seed, you lose your investment.

◈▣ KOMODO ● Set Your Ideas Free ▣◈
.......AECOSYSTEFONATIVE BLOCKCHAINS.......
Blockchain Generator | Decentralized Crowdfunding | Decentralized Exchange | Bitcoin Security | Zero-Knowledge Proofs | Blockchain Interoperability | Scalable Infrastructure
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December 29, 2016, 08:39:56 PM
 #3305


Go to the komodo ICO site and make sure the KMD address you see there matches with the seed/passphrase you have saved.

I'm confused, how can I do that? How can I check if phrase matches KMD address?
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December 29, 2016, 08:45:02 PM
 #3306


Go to the komodo ICO site and make sure the KMD address you see there matches with the seed/passphrase you have saved.

I'm confused, how can I do that? How can I check if phrase matches KMD address?

Here are instructions:

How to check you got the right passphrase/seed!

-> "check KMD address"
-> enter passphrase / seed
---> it returns the public KMD address

then it should match with your active KMD address above it

Example:


In the above picture the KMD addresses don't match, and there's a problem (the seed is incorrect).



The answer is now also available on our useresponse site: https://komodoplatform.useresponse.com/knowledge-base/article/how-do-i-check-i-got-the-right-seedpassphrase

◈▣ KOMODO ● Set Your Ideas Free ▣◈
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Crypto8man
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December 29, 2016, 08:52:43 PM
 #3307


-> "check KMD address"
-> enter passphrase / seed
---> it returns the public KMD address

then it should match with your active KMD address above it




Just verified, thank you.
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December 31, 2016, 06:58:26 AM
Last edit: January 15, 2017, 10:45:08 AM by rnr
 #3308


Team Komodo Ninja

provide you

FAQ
regarding Komodo (KMD), BitcoinDark (BTCD), Snapshot, Revenue Asset, Swap and Notary Node Elections!

Last Update: 09. January 2017









Please retweet/follow at


 
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December 31, 2016, 07:33:25 AM
 #3309

Wow!  Shocked

Great work on the FAQ guys! I can't believe people will have questions anymore. Too bad, the text isn't crawlable for Google or can be copied for users. Maybe put it on your website too? Will be good for you SEO too.  Smiley

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December 31, 2016, 07:55:50 AM
Last edit: December 31, 2016, 08:13:55 AM by rnr
 #3310

All content is available via Google Spreadsheet. Haven't time yet for put it on the homepage.
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December 31, 2016, 08:21:13 AM
 #3311

All content is available via Google Spreadsheet. Haven't time yet for put it on the homepage.

Which homepage?  Tongue  Wink

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December 31, 2016, 08:36:22 AM
 #3312

Is there any working roadmap for this project, it been months now that the ICO has been concluded but there is no actual date that token distribution will take place, no working windows wallet and to me it seems the developer only cares about swapping his tokens for KMD, leaving the actual ICO investors to fend for themselves

 
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December 31, 2016, 10:05:39 AM
Last edit: December 31, 2016, 10:16:31 AM by rnr
 #3313

Is there any working roadmap for this project, it been months now that the ICO has been concluded but there is no actual date that token distribution will take place, no working windows wallet and to me it seems the developer only cares about swapping his tokens for KMD, leaving the actual ICO investors to fend for themselves

What do you mean with "… it seems the developer only cares about swapping his tokens…"?

As far as I´m concerned, I am not holding any BTCD. The same is true for kolo.

As for your questions:

a) Team is working hard to get the BTCD deposit ready at the Komodo ICO site (you can expect the announcement soon)
b) After a) is ready, BTCD blockchain snapshot is happen after 7 days
c) After b) was happen the Komodo Notary Node Elections begin and last for 2 weeks
d) After c) all investors will be able to claim their KMD

But all of that you can read in the FAQ (even they are more relevant for BTCD investors).

Further the team is working on a Komodo Windows (Electron) client.
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December 31, 2016, 10:42:08 AM
 #3314

So KMD will be distributed approximately a month after the BTCD feature is ready. So I would assume beginning of February at the earliest?

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December 31, 2016, 10:52:31 AM
 #3315

Is there any working roadmap for this project, it been months now that the ICO has been concluded but there is no actual date that token distribution will take place, no working windows wallet and to me it seems the developer only cares about swapping his tokens for KMD, leaving the actual ICO investors to fend for themselves

Didn't the ICO conclude on Nov 20th?   How do you figure that it's been "months" since then?

Is that the best you can do, calling 5 weeks, "months"Huh  Sorry, but no one is taking you seriously.
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December 31, 2016, 10:59:59 AM
 #3316

I was a signature participants and I opt for KMD payment, can I participate in voting? as far as I know signature participants are not going to get their tokens any soon,does it mean we would not be able to vote?

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December 31, 2016, 11:31:39 AM
 #3317

it's nice to see this page . I expect all KMD coins will be distributed in Janauary,2017.
That will be very great to get more earning from this project in the new year.


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December 31, 2016, 03:03:13 PM
 #3318

I've been playing with the easydex gui for Iguana and it's a sight to behold. And more juicy Supernet features will come in 2017.

Imagine what it would do for Komodo if just 5% of Bitcoin users starts using Iguana as wallet...  Grin

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yassin54
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December 31, 2016, 06:22:42 PM
 #3319

Komodo team wishes good new year! We have a big year ahead.


RichardT
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December 31, 2016, 06:30:49 PM
 #3320

Why do we need 2 weeks for notary node elections?  This is the first election and as it appears, all the candidates are very likely going to get elected. So what's the point in making the process that long?
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