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

[tclo]

no...thats not correct...in past when i dont had invest in KMD directly with BTC  but invested 33 BTC in BTCD and wait until now...then i will get the double amount...thats not fair

If I were you, I would be happy that BTCD price dropped a good bit and gave you this opportunity to get more KMD at such a low rate.  And the developers do not set the market price of BTCD.  The market does that.

[tclo]

Here is the daily update of the BTC/BTCD/KMD current swap values.  Again, this is the only way to indirectly buy KMD right now.  Once the swap begins on the Komodo ICO site, you will be able to swap 1 BTCD for 50.4488 KMD.  Here are the current #s:

Current BTCD Price (Poloniex):  .00338 BTCD/BTC

Current BTC/BTCD ratio: 295.86 (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: 14925.68 (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: +7179.158 KMD or +92.68% extra (relative to ICO KMD/BTC rate at the end of ICO with no bonus)

So at current prices, you get nearly twice the amount of KMD that you would have at the end of the ICO.

The price could rise sharply from here to .006512 BTCD/BTC and you would still get the same amount of KMD per BTC spent as you could during the end of the ICO.

[tclo]

thats actually what i say...its a scam...who decide 50.44 KMD per BTCD??? It was the Komodo Team, not the market. Why they dont say 40 or 30KMD for 1 BTCD? on which basis they calculate it?

The market decides the value of BTCD and that is half of the equation as to how much KMD you get per $1.00 of BTCD.

If you look on Poloniex, you will see that there is not much available at low rates.  If you bought the same 33 BTC worth, you would jack the price up over 50%, and would be less KMD (in USD terms) than at the start of the ICO.

But there is a limited amount at lower prices and will probably get bought up soon. I'm going to add more myself as soon as my deposit to Poloniex clears.  You should stop your illogical whining and buy some more before the price goes up.

[kaicrypzen]

thats actually what i say...its a scam...who decide 50.44 KMD per BTCD??? It was the Komodo Team, not the market. Why they dont say 40 or 30KMD for 1 BTCD? on which basis they calculate it?

The market decides the value of BTCD and that is half of the equation as to how much KMD you get per $1.00 of BTCD.

If you look on Poloniex, you will see that there is not much available at low rates.  If you bought the same 33 BTC worth, you would jack the price up over 50%, and would be less KMD (in USD terms) than at the start of the ICO.

But there is a limited amount at lower prices and will probably get bought up soon. I'm going to add more myself as soon as my deposit to Poloniex clears.  You should stop your illogical whining and buy some more before the price goes up.

Not everybody has spare funds to buy BTCD now and lower there entry price in the ICO and not everybody wants to do that either, maybe some lost faith maybe not, maybe the BTCD price will go down further maybe not, lots of maybes and nothing is sure/predictable, so there's no sure/right strategy when it comes to this.

The swap rate has been decided by the team (yes it was based on the mean price during last August), this has been clear from the start, it wasn't a last minute decision or something, the rate was known and it was an investor's decision to invest using BTC or to buy BTCD to swap it later.

[tclo]

The swap rate has been decided by the team (yes it was based on the mean price during last August), this has been clear from the start, it wasn't a last minute decision or something, the rate was known and it was an investor's decision to invest using BTC or to buy BTCD to swap it later.

Yes well said and people are just whining, because they didn't make a decision that worked out the best for them.  They will still do fine with their ICO KMD, but whoever buys BTCD today will do even better.  But if KMD is as successful as its potential suggests, then everyone should realize some nice gains on their investment and be pleased with that.

[polycryptoblog]

thats actually what i say...its a scam...who decide 50.44 KMD per BTCD??? It was the Komodo Team, not the market. Why they dont say 40 or 30KMD for 1 BTCD? on which basis they calculate it??? 50.44 is too high...the winner are all btcd holders (for example jl777) because they get the money from the BTC Investors.

BTC raised in ICO + BTC ICO Bonuses + (BTCD  Coin Supply  * .00651)   /  90000000



.00651 is the swap value in BTC of a BTCD after factoring set price of .00532 + 20% average bonus collected.

The swap ends up approximately 50.44    This is not an arbitrary number.



All of this was very transparent  through the entirety of the ICO.

[penoze]

Hello,

Maybe this question is already answered before.
Where can i trade KOMODO at this moment?

You can't trade KMD yet, but you can buy BTCD on Poloniex, which can be converted to KMD in the next week or two. Read the last two pages in this thread and there is information about that and how you would be buying KMD for half of the ICO price.

Okay thanks  
Going take a closer look to komodo and after that consider to buy some btcd to swap

Is it possible to swap from the supernet wallet?

[amacar2]

I invested more than 30 BTC in that project....now people can only invest 15 BTC in BTCD and have the same Amount of KMD...thats very frustrating :-(

I have not invested that big but still i am thinking investing with bitcoin was huge mistake. I should have bought BTCD and wait for swap. I have also calculated like you and get almost similar difference in cost for 1000 KMD almost half.

[22naru]

can some1 help me to sync my  BTCD wallet?

here is a list of recent peers

...

cheers, now i have active connections...
i am ready for BTCD swap !!! hope will come soon the news.

[22naru]

I invested more than 30 BTC in that project....now people can only invest 15 BTC in BTCD and have the same Amount of KMD...thats very frustrating :-(

I have not invested that big but still i am thinking investing with bitcoin was huge mistake. I should have bought BTCD and wait for swap. I have also calculated like you and get almost similar difference in cost for 1000 KMD almost half.

in case you missed out some good info i will bring back to you :

The exchange rate 1BTCD=50KMD will be the same for all the period of the swap (1 year) ?

Basically yes, but the exchange rate will decrease slightly every day to account the 5% APR bitcoindark has. With this we ensure there won't be more BTCD than there are KMD reserved for the swap.

So apparently there isnt any difference partecipating the ICO (as i done) and buying now BTCD and wait the swap?

Yes, with both ways you get the same KMD coins.

Euh, this answer is rather confusing ... The fact is, an investor who invested 1 BTC at any stage of the ICO will get less KMD than someone who bought 1 BTC worth of BTCD throughout the ICO (BTCD price ranged from 0.0035x to 0.0048x on Polo). On Polo, right now, if you want to buy 1 BTC worth of BTCD, you'll get it for between 0.0038 and 0.00406. With the current rate that is a better investment (BTC-wise) than having invested 1 BTC in the Komodo ICO (even with the 35% bonus).

Let's have an example:
Right now, on Polo there is a sell order of 200 BTCD fo 0.00406 each, that is 0.812 BTC.
With the rates from the second post:

The following exchange rates were calculated after the ICO:

1 BTC = 7746,521995 KMD
1 BTCD = 50,42041779 KMD

- Investing directly in the ICO will get you 0.812*7746.521995 = 6290.17585994 KMD (the 35% bonus will get you 8491.73741091)
- Buying BTCD from that sell order and then swapping it (before the rate decreases) will get you 200*50.42041779 = 10084.083558 KMD

Unless I missed something ...

It is a liquidity issue. for small amounts, you are correct.
however, try to buy 500 BTC worth of BTCD and see where the price ends up. probably 4x current price levels and certainly not any better price at all.

there is about 50 BTC of BTCD below the 0% bonus price. That is approx 2% of ICO volumes, so to equate the BTCD converted price as a substitute of ICO investment ignores the lack of liquidity.

That being said 50 BTC is a significant amount for any single person, who can get an effective bonus in the open market.

[eshriek]

Here is the daily update of the BTC/BTCD/KMD current swap values.  Again, this is the only way to indirectly buy KMD right now.  Once the swap begins on the Komodo ICO site, you will be able to swap 1 BTCD for 50.4488 KMD.  Here are the current #s:

Current BTCD Price (Poloniex):  .00338 BTCD/BTC

Current BTC/BTCD ratio: 295.86 (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: 14925.68 (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: +7179.158 KMD or +92.68% extra (relative to ICO KMD/BTC rate at the end of ICO with no bonus)

So at current prices, you get nearly twice the amount of KMD that you would have at the end of the ICO.

The price could rise sharply from here to .006512 BTCD/BTC and you would still get the same amount of KMD per BTC spent as you could during the end of the ICO.

thats actually what i say...its a scam...who decide 50.44 KMD per BTCD??? It was the Komodo Team, not the market. Why they dont say 40 or 30KMD for 1 BTCD? on which basis they calculate it??? 50.44 is too high...the winner are all btcd holders (for example jl777) because they get the money from the BTC Investors.

@cowgirl, yes but... wasn't this clear from the 2nd post in this thread? https://bitcointalk.org/index.php?topic=1605144.msg16115491#msg16115491
Didn't we know from doing the math homework before the ICO? this is what i think i thought happened at that time of preICO but my memory does not serve me so well.

@tclo omg did you say mathgasims would be daily !? such mathporn makes me by more BTCD buy the day. thank you (i think i hope but don't really know until i polo all my Komodo and even so with all this mathpornknow, still i pray Komodo is no Dodo)

[sambiohazard]

i think its only fair to give an advantage to BTCD holders as they have been with the project for way longer than ICO investors. They are like super early investor when a company is running out of the garage.

[kaicrypzen]

i think its only fair to give an advantage to BTCD holders as they have been with the project for way longer than ICO investors. They are like super early investor when a company is running out of the garage.

That's probably true for some holders, yet there are current holders, who bought BTCD when the ICO started, and/or who are buying now to benefit from the bonus. Fairness might be irrelevant here and shouldn't be an issue as the rules were layed out from the begining.

[windjc]

Guys WHO CARES about the current BTCD price? Look, roughly 50 BTC worth of BTCD or around 15,600 BTCD were sold for these bargain basement prices. That is about 1.2% of the total BTCD in circulation. Which means about .06% the entire ICO investors got this recent really good price.

So please stop acting like someone is getting cheated. The REAL BTCD price will be determined when KMD hits the market exchanges, hopefully after some marketing and promotion and some releases. I hardly think anyone should be complaining about the price then.

[tclo]

Guys WHO CARES about the current BTCD price? Look, roughly 50 BTC worth of BTCD or around 15,600 BTCD were sold for these bargain basement prices. That is about 1.2% of the total BTCD in circulation. Which means about .06% the entire ICO investors got this recent really good price.

Yes a couple of people are complaining, which does make no sense, because the BTCD swap price was announced long ago. 

But you are correct that the low BTCD market price has only been the case for very recently.  And right now, it's still a bargain to buy BTCD and get huge KMD bonus before it starts trading.  And BTCD is up 7% in the last 24 hrs so creeping up lately with most trades at the ask.

[RJF19]

Consider the following:

The Suggested ZKP Protocol Which Is Based On the Graph Isomerism Problem:
The researchers proposed a ZKP that is based on the graph isomerism problem in the following manner:
Let’s assume 2 isomorphic graphs G1 and G2 so that G2 = L (G1) where graphs G1 and G2 represent the public key and the private key is represented by the isomorphism L

1- The prover, or the spender, will randomly select an integer a ϵ {0, 1}. In other words, he/she will toss a coin
2- The prover, or the spender, will select a random permutation μ and then formulates a new graph where G3 = μ (Ga)
3- The prover, or the spender, will then send the graph’s adjacency matrix which is G3 to the verifier, or the miner.
4- The verifier, or the miner, will then send a random integer b ϵ {0, 1} to the prover, or the spender, and challenges him/her for λ which maps G3 to Gb
5- If the value of a equals that of b, the prover, or the miner, will send λ = μ-1 to the verifier or, the spender.
6- If a = 0 and b = 1, the prover , or the spender, will send λ = μ-1 * L to the verifier, or the miner.
7- If a = 1 and b = 0, the prover , or the spender, will send λ = μ-1 * L to the verifier, or the miner.
8- The verifier, or the miner, will check if λ (G3 ) = (Gb) and if confirmed will grant access to the prover, or confirm the transaction of the spender.

Repeated rounds of these mathematical operations need to be executed for the verifier, or the miner, to confirm that the prover, or the spender, is the real owner of the private keys related to the statement, or transaction in question, given the fact that the prover can occasionally be lucky enough to the guess the value of b before G3 is successfully sent. The probability of occurrence of this can be estimated by the following function with n representing the number of rounds. Accordingly, with several rounds taking place, the innate probability of this instance is relatively low, and probability of the verifier, or the miner, to confirm the identity of the prover, or the spender, is measured by the “level of confidence” which is calculated by the following function 1 – .
Accordingly, the presented protocol provides a zero-knowledge proof (ZKP) based on the problem of graph isomerism while promoting integrity, soundness and zero knowledge.

Although zero-knowledge proof (ZKP) protocols have been first described in 1985 by Goldwasser, it is still inspiring researchers to innovate new cryptographic systems that omit the need for third parties. Just like the cryptocurrency project, the Komodo Platform, a new cryptographic protocol has been just introduced to combine ZKP with the graph isomersim problem and soon enough we will see a new cryptocurrency that utilizes the idea.

As presented on deep.dot.web

Comments?

[tclo]

For those buying BTCD for the upcoming swap to KMD, remember that BTCD is Proof of Stake and you get extra free BTCD just for owning some to begin with.  I didn't even realize this and then started to see Mining Rewards in my wallet.

However a mistake that I made is that when I password protected my wallet, it "locked it" for staking, which I assume means i wasn't eligible for any more mining rewards on what I hadn't staked yet.  I don't totally understand it, but I unlocked my wallet with my password and now I think it's working correctly and all my BTCD is staked.

So if you are buying BTCD off Poloniex, you want to move it to your personal wallet ASAP and start to earn extra for free.  Here is the link to the wallet:  http://bitcoindark.com/

And BTCD price has been creeping up on Poloniex today.  Right now there is just 1.44 BTC worth at an ask of .00360 and then there isn't a sizeable ask until .00400 so someone may want to grab that while they can. .0036 still gets you 85% more KMD after the swap than the end of the ICO.

[tclo]

BTCD is up 20% today on Poloniex, in USD terms:

http://coinmarketcap.com/currencies/bitcoindark/

About half of that is thanks to BTC surging higher, but still got to think that when the Swap officially begins, there will be additional buying pressure on BTCD, especially because at current price - .0036, you get 84% more than you did, per BTC, at the end of the ICO.  Someone just took a big chunk out of it at the ask and just 229 BTC left.  But that will get you 11,550 KMD.

After that, the next sizeable ask is at .0040, which is still a good deal, but not as sweet as .0036, for sure.

The next couple of weeks are going to be very interesting for both BTCD and KMD.  I guess the entire year will be, but I'm looking forward to be along for the ride.

[hansen.ng]

Will I receive the Revenue Asset shares if I do not do the swap on the swap day?
Essentialy my question is will I get REvenue Asset shares right away if i do not swap to KMD right away.

thanks

[tclo]

Will I receive the Revenue Asset shares if I do not do the swap on the swap day?
Essentialy my question is will I get REvenue Asset shares right away if i do not swap to KMD right away.

thanks

Getting REVS is not related to swapping your KMD.

Quoting KomodoPlatform

"
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
 - swap rate is approximately 50.44 KMD per 1 BTCD swapped.
 - lasts 1 full year
 - swapped BTCD ends up in 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
"