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

[rnr]

Team Komodo Ninja

provide you

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

Last Update: 09. January 2017

Diversification & Decentralization Ratio (All Regions)

All Candidates & Locations (4 Google Maps)

http://komodo.ninja

https://www.komodoelection.com/candidates/rnr-ikt/

https://www.komodoelection.com/candidates/kolo/

Please retweet/follow at

https://twitter.com/komodonotary/status/815092767743352832

 

[1714871044]

1714871044

[farl4web]

Wow! 

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. 

[rnr]

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

[farl4web]

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

Which homepage?   

[jacafbiz]

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

[rnr]

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.

[loremipsum]

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

[tclo]

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"  Sorry, but no one is taking you seriously.

[Wapinter]

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?

[ERossin]

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.

[barbierir]

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... 

[yassin54]

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

Twitter : https://twitter.com/KomodoPlatform/status/815261360254808068

Reddit : https://www.reddit.com/r/komodoplatform/comments/5lawa0/komodo_team_wishes_good_new_year_we_have_a_big/

Facebook : https://www.facebook.com/KomodoPlatform/photos/a.330322533980991.1073741828.321638648182713/387738274906083/?type=3&theater

News SuperNET : http://news.supernet.org/posts/ja3Gv5sojdsTEQ2gR/komodo-team-wishes-good-new-year-we-have-a-big-year-ahead

[RichardT]

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?

[RJF19]

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"  Sorry, but no one is taking you seriously.

Either he needs to learn to read or, go troll somewhere else...

[ArabMist]

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.

Fair points raised jl777. I'd just like to mention that I have no intention of selling my komodo, I just feel many might use the BB objection to do just that.

I see WAVES sold their truck load of BBs for 35btc. Considering the amount they received, that price seems way too cheap. I sold 200GB for 4BTC so maybe they think BB will crash and burn. Anyhow, for the aid of transparency, would the komodo dev team let the community know how many BB they received and keep us updated when they choose to sell and the amount of BTC received and what line items receive the revenue?

[RJF19]

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.

Fair points raised jl777. I'd just like to mention that I have no intention of selling my komodo, I just feel many might use the BB objection to do just that.

I see WAVES sold their truck load of BBs for 35btc. Considering the amount they received, that price seems way too cheap. I sold 200GB for 4BTC so maybe they think BB will crash and burn. Anyhow, for the aid of transparency, would the komodo dev team let the community know how many BB they received and keep us updated when they choose to sell and the amount of BTC received and what line items receive the revenue?

Why should they do that? You either trust them or, you don't.

[tclo]

You guys who are whining about not getting Byteball from KMD are distracting jl777 from doing their work and finishing development, so we can get KMD going to begin with.  Maybe that is your plan, but if it isn't and you have funds in the ICO, then you are engaging in actions that are counter productive to your own financial health.

[jl777]

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.

Fair points raised jl777. I'd just like to mention that I have no intention of selling my komodo, I just feel many might use the BB objection to do just that.

I see WAVES sold their truck load of BBs for 35btc. Considering the amount they received, that price seems way too cheap. I sold 200GB for 4BTC so maybe they think BB will crash and burn. Anyhow, for the aid of transparency, would the komodo dev team let the community know how many BB they received and keep us updated when they choose to sell and the amount of BTC received and what line items receive the revenue?

Why should they do that? You either trust them or, you don't.

I have no problems disclosing the amount of BB we received as I assume it is automatically calculated and would take little effort. You can probably just look it up on the byteball site.

However, to setup some special accounting process with dedicated accounts, etc. to report on the disposition of ~4 BTC worth of BB seems like a lot of effort over a very small amount. My estimate was BB is worth ~10BTC, if WAVES did sell theirs for 35BTC, it is closer to 4BTC.

It is a matter of resource allocation not lack of transparency. You can all see the ICO address to verify the vast majority of funds are still there, we maintain a frugal attitude towards the funds.

[lizidev]

Can one of the leaders give some more detailed information about the Snapshot stuff

[rnr]

Can one of the leaders give some more detailed information about the Snapshot stuff

I´m not a leader, but here you can find the entire FAQ:
https://bitcointalk.org/index.php?topic=1605144.msg17353166#msg17353166

Team Komodo Ninja

provide you

abstract of FAQ regarding Komodo (KMD), BitcoinDark (BTCD), Snapshot and Revenue Asset!

Last Update: 09. January 2017

The entire FAQ

Diversification & Decentralization Ratio (All Regions)

All Candidates & Locations (4 Google Maps)

http://komodo.ninja

https://www.komodoelection.com/candidates/rnr-ikt/

https://www.komodoelection.com/candidates/kolo/

Please retweet/follow at

https://twitter.com/komodonotary/status/815092767743352832