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

[yassin54]

Iguana App Update #18.

Tweet : https://twitter.com/KomodoPlatform/status/817126683174113281

Reddit : https://www.reddit.com/r/komodoplatform/comments/5m9d5b/iguana_app_update_18/

Facebook : https://www.facebook.com/KomodoPlatform/posts/390236074656303

News SuperNET : http://news.supernet.org/posts/6Y593WMCAEozuufSm/iguana-app-update-18

[1713481651]

1713481651

[josephdd1]

KMD making good and steady steps, that's real good news.
I am happy to see progress, as an investor, so let's see what's next guys...

[tclo]

Well that entire 10 BTC worth of BTCD was bought up on Poloniex already at .0031.  Then they put another 3 BTC at that price and it was bought up.  Now there is 7 BTC at .0032.   I'm not sure if they are trying to keep the price down or trying to cash out of a lot of BTCD, but doesn't make much sense to put a sell wall there, when could put it 10 or 20% higher and would sell just about as quickly.

Who is selling and why?

I'm not sure what you mean by "who", and as I said above, it really doesn't make sense for them to sell right now and at that relatively low price.  They seem to be wanting to keep the price down for some reason, or they wouldn't have that big sell wall in place.

And we don't know how much BTCD they are working with, of course, so no way to tell how long it will be effective, but it's definitely a good thing for anyone who wants to get KMD for half off, relative to the ICO price.

With the ICO, you got about 7700 KMD per BTC and with buying BTCD right now at .0032 on Poloninex, you will end up with twice that much..about 16000 KMD. 

So once people figure that out, there should be a lot of buys at that ask price.

[Amalgamus]

For once I'm glad I was able to buy some BTCD for 1 BTC just before the sell order at .0032 disappeared from Polo's exchange .

[windjc]

Well that entire 10 BTC worth of BTCD was bought up on Poloniex already at .0031.  Then they put another 3 BTC at that price and it was bought up.  Now there is 7 BTC at .0032.   I'm not sure if they are trying to keep the price down or trying to cash out of a lot of BTCD, but doesn't make much sense to put a sell wall there, when could put it 10 or 20% higher and would sell just about as quickly.

Who is selling and why?

I'm not sure what you mean by "who", and as I said above, it really doesn't make sense for them to sell right now and at that relatively low price.  They seem to be wanting to keep the price down for some reason, or they wouldn't have that big sell wall in place.

And we don't know how much BTCD they are working with, of course, so no way to tell how long it will be effective, but it's definitely a good thing for anyone who wants to get KMD for half off, relative to the ICO price.

With the ICO, you got about 7700 KMD per BTC and with buying BTCD right now at .0032 on Poloninex, you will end up with twice that much..about 16000 KMD.  

So once people figure that out, there should be a lot of buys at that ask price.

First the wall was bought. Second, the seller obviously isn't interested in Komodo and either needs the cash or thinks the project will not return an investment, meaning that once Komodo launches, its price won't be as high as the relative BTCD price. We will see who is right.

[PilotofBTC]

Has it been stated what blockchain the REVS assets will be issued on?

[tclo]

For once I'm glad I was able to buy some BTCD for 1 BTC just before the sell order at .0032 disappeared from Polo's exchange .

I'm glad you bought some. I bought way too much at .0031 and finally had to stop, because I am overextended with all the BTCD that I have.

But looks like the rest was bought up as well and we'll see if the seller refreshes the ask with more of it.  If not, then the price should rise from here, because there are not really any asks of considerable size until about .004 or higher.

And 24hr volume on Poloniex for BTC is 53 BTC.  That is huge, and it's usually 10 BTC or less on there recently.

[Amalgamus]

Well that entire 10 BTC worth of BTCD was bought up on Poloniex already at .0031.  Then they put another 3 BTC at that price and it was bought up.  Now there is 7 BTC at .0032.   I'm not sure if they are trying to keep the price down or trying to cash out of a lot of BTCD, but doesn't make much sense to put a sell wall there, when could put it 10 or 20% higher and would sell just about as quickly.

Who is selling and why?

I'm not sure what you mean by "who", and as I said above, it really doesn't make sense for them to sell right now and at that relatively low price.  They seem to be wanting to keep the price down for some reason, or they wouldn't have that big sell wall in place.

And we don't know how much BTCD they are working with, of course, so no way to tell how long it will be effective, but it's definitely a good thing for anyone who wants to get KMD for half off, relative to the ICO price.

With the ICO, you got about 7700 KMD per BTC and with buying BTCD right now at .0032 on Poloninex, you will end up with twice that much..about 16000 KMD.  

So once people figure that out, there should be a lot of buys at that ask price.

First the wall was bought. Second, the seller obviously isn't interested in Komodo and either needs the cash or thinks the project will not return an investment, meaning that once Komodo launches, its price won't be as high as the relative BTCD price. We will see who is right.

The wall wasn't bought. After I bought there was 2300 BTCD left on the book order and there were just taken out.

[tclo]

First the wall was bought. Second, the seller obviously isn't interested in Komodo and either needs the cash or thinks the project will not return an investment, meaning that once Komodo launches, its price won't be as high as the relative BTCD price. We will see who is right.

I can see selling your BTCD if you didn't want it, but just doesn't make sense to dump it that low.  The price wasn't even nearly that low yesterday when they sold the first batch at .031.  It was actually at least 10% higher.

So they crash the price and then they make a big sell wall at the low price that gets eaten away. They refresh it at just about the same price until it all gets eaten...makes zero sense, but go figure.

Anyway, I would have to do some math but I think even at .0035 or even .004, BTCD is still a bargain, considering you are getting a lot more KMD than you would from the ICO.

[jl777]

Has it been stated what blockchain the REVS assets will be issued on?

REVS will have its own blockchain, same as all the other assetchains.

[PilotofBTC]

Has it been stated what blockchain the REVS assets will be issued on?

REVS will have its own blockchain, same as all the other assetchains.

I guess I don't understand. Aren't assets usually stored on some parent coin blockchain like NXT or Bitcoin (counterparty)?

[ibrahim11]

First the wall was bought. Second, the seller obviously isn't interested in Komodo and either needs the cash or thinks the project will not return an investment, meaning that once Komodo launches, its price won't be as high as the relative BTCD price. We will see who is right.

I can see selling your BTCD if you didn't want it, but just doesn't make sense to dump it that low.  The price wasn't even nearly that low yesterday when they sold the first batch at .031.  It was actually at least 10% higher.

So they crash the price and then they make a big sell wall at the low price that gets eaten away. They refresh it at just about the same price until it all gets eaten...makes zero sense, but go figure.

Anyway, I would have to do some math but I think even at .0035 or even .004, BTCD is still a bargain, considering you are getting a lot more KMD than you would from the ICO.

I would buy more BTCD if I had the money to buy BTC. But is it worth it buying BTC at £843 ($1050)?

[PilotofBTC]

First the wall was bought. Second, the seller obviously isn't interested in Komodo and either needs the cash or thinks the project will not return an investment, meaning that once Komodo launches, its price won't be as high as the relative BTCD price. We will see who is right.

I can see selling your BTCD if you didn't want it, but just doesn't make sense to dump it that low.  The price wasn't even nearly that low yesterday when they sold the first batch at .031.  It was actually at least 10% higher.

So they crash the price and then they make a big sell wall at the low price that gets eaten away. They refresh it at just about the same price until it all gets eaten...makes zero sense, but go figure.

Anyway, I would have to do some math but I think even at .0035 or even .004, BTCD is still a bargain, considering you are getting a lot more KMD than you would from the ICO.

I would buy more BTCD if I had the money to buy BTC. But is it worth it buying BTC at £843 ($1050)?

It doesn't really matter how much 1 BTC = in fiat since the BTC/BTCD price will mostly adjust with the BTC price.

[windjc]

Well that entire 10 BTC worth of BTCD was bought up on Poloniex already at .0031.  Then they put another 3 BTC at that price and it was bought up.  Now there is 7 BTC at .0032.   I'm not sure if they are trying to keep the price down or trying to cash out of a lot of BTCD, but doesn't make much sense to put a sell wall there, when could put it 10 or 20% higher and would sell just about as quickly.

Who is selling and why?

I'm not sure what you mean by "who", and as I said above, it really doesn't make sense for them to sell right now and at that relatively low price.  They seem to be wanting to keep the price down for some reason, or they wouldn't have that big sell wall in place.

And we don't know how much BTCD they are working with, of course, so no way to tell how long it will be effective, but it's definitely a good thing for anyone who wants to get KMD for half off, relative to the ICO price.

With the ICO, you got about 7700 KMD per BTC and with buying BTCD right now at .0032 on Poloninex, you will end up with twice that much..about 16000 KMD.  

So once people figure that out, there should be a lot of buys at that ask price.

First the wall was bought. Second, the seller obviously isn't interested in Komodo and either needs the cash or thinks the project will not return an investment, meaning that once Komodo launches, its price won't be as high as the relative BTCD price. We will see who is right.

The wall wasn't bought. After I bought there was 2300 BTCD left on the book order and there were just taken out.

I bought the wall. Look at the volume.

[jl777]

Has it been stated what blockchain the REVS assets will be issued on?

REVS will have its own blockchain, same as all the other assetchains.

I guess I don't understand. Aren't assets usually stored on some parent coin blockchain like NXT or Bitcoin (counterparty)?

komodo is unusual in that it doesnt require an intermediate token for assets. That means that asset transactions are paying txfees in itself. It also means that the assetchain controls its own destiny and is not slave to some master chain.

It also has the effect of being scalable to an arbitrary degree as there is no direct dependence on any other blockchain.

However, there is a limit to the number of built in chains that the KMD notary nodes can dPoW. We are already above 40 assetchains. There is a provision for each assetchain to be able to designate their own set of notary nodes for dPoW

[Amalgamus]

Well that entire 10 BTC worth of BTCD was bought up on Poloniex already at .0031.  Then they put another 3 BTC at that price and it was bought up.  Now there is 7 BTC at .0032.   I'm not sure if they are trying to keep the price down or trying to cash out of a lot of BTCD, but doesn't make much sense to put a sell wall there, when could put it 10 or 20% higher and would sell just about as quickly.

Who is selling and why?

I'm not sure what you mean by "who", and as I said above, it really doesn't make sense for them to sell right now and at that relatively low price.  They seem to be wanting to keep the price down for some reason, or they wouldn't have that big sell wall in place.

And we don't know how much BTCD they are working with, of course, so no way to tell how long it will be effective, but it's definitely a good thing for anyone who wants to get KMD for half off, relative to the ICO price.

With the ICO, you got about 7700 KMD per BTC and with buying BTCD right now at .0032 on Poloninex, you will end up with twice that much..about 16000 KMD.  

So once people figure that out, there should be a lot of buys at that ask price.

First the wall was bought. Second, the seller obviously isn't interested in Komodo and either needs the cash or thinks the project will not return an investment, meaning that once Komodo launches, its price won't be as high as the relative BTCD price. We will see who is right.

The wall wasn't bought. After I bought there was 2300 BTCD left on the book order and there were just taken out.

I bought the wall. Look at the volume.

Yes, you're right.
I was in fact looking at the volume, but for mysterious reasons it didn't show up on my screen.

[tclo]

I bought the wall. Look at the volume.
[/quote]

Good job.  I bought way too much of it myself as well, or at least a big chunk of the first one and a little of the second.

But BTCD price rebounded and went from being down 15% to up 8.5% now, although there's still such a thin orderbook that it can bounce around pretty easily.  But made up to .00347 awhile ago.  

Next wall is all the way up at .0046.  There is less than 10 BTC worth of BTCD on the ask up to that point.

I'll be very curious to see the price action once the swap is officially opened and people can start buying BTCD and transferring them to their wallets for the the REVS bonus and then of course can convert them to KMD at the rate of about 50.45 KMD per BTCD, from what I understand.

Once KMD starts trading, got to think the market prices of both will get in sync pretty quickly due to arbitrage, although we shall see.  I hope KMD can get on Poloniex pretty quickly.  We need to all email them and request it. I'll try to get the information about that.

[tclo]

Ok I'm going to do a recap of BTC/BTCD/KMD current rates for everyone and because, I'm curious to run the numbers myself.  And of course because this is basically the way to indirectly buy KMD early right now.

Current BTCD Price (Poloniex):  .00330 BTCD/BTC

Current BTC/BTCD ratio: 303.03 (amount of BTCD that you get for 1 BTC)

KMD/BTCD swap rate: 50.4488 : 1 (amount of KMD you will get for each BTCD that you swap on ICO site)

KMD/BTC current ratio: 15287.515 (amount of KMD you get for 1 BTC worth of BTCD at current price on Poloniex)

KMD/BTC ICO rate: 7746.522 : 1 (amount of KMD you got for 1 BTC at the end of ICO with no bonus)

Current extra KMD via BTCD: +7540.993 KMD or +97.34% extra (relative to ICO KMD/BTC rate at the end of ICO with no bonus)

So bottom line, at current prices, you get nearly twice the amount of KMD that you would have at the end of the ICO.  I'm still surprised that the BTCD price is not, higher but that will probably change before long.

The price could nearly double from here to .006512 BTCD/BTC and you would still get the same amount of KMD per BTC spent as you did during the end of the ICO.  (and of course BTC price is much higher now, so you must take that into account as well and that is exaggerating the current extra amount you get, in USD terms).

If i made mistakes in the math here, someone please correct me.  

[rnr]

You are right. I am also just updating the FAQ.

[tclo]

And again, the developers should really keep to the schedule that they've posted here many times over the past months:

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

Most importantly, we should get at least 1 week notice before the snapshot.  Many people can only move a limited amount of crypto out of Poloniex per day, depending on verification levels, so please give us a week, as promised before the snapshot so we can get it done.  

If you want to allow swapping earlier or distribute KMD early, I suppose wouldn't be downsides, but the advance notice for the snapshot is important.  Thank you.