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

[R-J-F]

Attempt to fool people into buying low priced KMD which can't be withdrawn.  You can deposit BTC but withdrawal of BTC seems to be pending indefinitely.

CryptXC exchange
https://cryptxc.com/markets/kmdbtc

Coinmarket cap, Komodo
https://coinmarketcap.com/currencies/komodo/#markets

The exchange hasn't had any update in it's thread since february.
https://bitcointalk.org/index.php?topic=1780092

Never heard of them, just as well I suppose!

[1713501290]

1713501290

[jl777B]

For those that keep saying that polo is needed, well, I think evidence shows differently.

Bittrex daily volumes have increased from 10% to 40% over the last month and if this pattern continues, it wont be long before Bittrex will be larger than polo. Also, with WAVES and KMD, relatively large marketcaps are achieved without polo

Nothing against polo, more liquidity is always welcome, but I dont feel that lack of polo listing in any way diminishes the market value of KMD. In any case, BTCD is trading actively on polo and serves as a (time delayed) proxy for KMD.

[DigitalNinja]

For those that keep saying that polo is needed, well, I think evidence shows differently.

Bittrex daily volumes have increased from 10% to 40% over the last month and if this pattern continues, it wont be long before Bittrex will be larger than polo. Also, with WAVES and KMD, relatively large marketcaps are achieved without polo

Nothing against polo, more liquidity is always welcome, but I dont feel that lack of polo listing in any way diminishes the market value of KMD. In any case, BTCD is trading actively on polo and serves as a (time delayed) proxy for KMD.

Agree with this, Polo is going through rough times atm aswsell

[Peanutbutterpolka]

Thank you jl777b I think you explained it a bit better then that other guy, jl777. [that was a joke]

I agree about polo not being needed. My account trading access was compromised late may and all value transfered out and Im left with qora. Totally polo's fault as my cpu wasnt hacked else they couldve withdrawn, my fault for trusting polo and not 2fa.

Anyway,

If I want to trade ltc to kmd using the dex, it sounds like I should be using a client node. Do I need to dl both ltc and kmd chain? Or is this something basilisk can do and I won't need to dl either?

[jl777B]

Thank you jl777b I think you explained it a bit better then that other guy, jl777. [that was a joke]

I agree about polo not being needed. My account trading access was compromised late may and all value transfered out and Im left with qora. Totally polo's fault as my cpu wasnt hacked else they couldve withdrawn, my fault for trusting polo and not 2fa.

Anyway,

If I want to trade ltc to kmd using the dex, it sounds like I should be using a client node. Do I need to dl both ltc and kmd chain? Or is this something basilisk can do and I won't need to dl either?

you need native chains of anything you want to trade, however it can be pruned chains so after initial sync, it shouldnt be so heavy

I just coded the client mode forwarding, so other than the extra hops and the increased chance of a trade being incomplete, client mode should work fine.

The atomic swap protocol is able to handle either party disconnecting at any stage of the protocol, with most cases able to just pick up where it left off when reconnecting. There are a few cases where you will have to wait for a few hours to recover funds, but in most of those cases you get a 12% bonus.

For most of the trades for most of the people most of the time, after a few coin confirmations, the trade will be completed.

[mandica]

All of your wallets keeps crashing on both Mac and Windows 

[Peanutbutterpolka]

Thank you jl777b I think you explained it a bit better then that other guy, jl777. [that was a joke]

I agree about polo not being needed. My account trading access was compromised late may and all value transfered out and Im left with qora. Totally polo's fault as my cpu wasnt hacked else they couldve withdrawn, my fault for trusting polo and not 2fa.

Anyway,

If I want to trade ltc to kmd using the dex, it sounds like I should be using a client node. Do I need to dl both ltc and kmd chain? Or is this something basilisk can do and I won't need to dl either?

you need native chains of anything you want to trade, however it can be pruned chains so after initial sync, it shouldnt be so heavy

I just coded the client mode forwarding, so other than the extra hops and the increased chance of a trade being incomplete, client mode should work fine.

The atomic swap protocol is able to handle either party disconnecting at any stage of the protocol, with most cases able to just pick up where it left off when reconnecting. There are a few cases where you will have to wait for a few hours to recover funds, but in most of those cases you get a 12% bonus.

For most of the trades for most of the people most of the time, after a few coin confirmations, the trade will be completed.

And then if I don't want to have the native chains I would use the shapeshift feature that Im assuming is some smart address where I send my komodo and it deposits litecoin in my litecoin address if that is my selected trade.

That might be the easiest method come to think of it.

[Wintermute420]

I saw this and wanted to share. 

http://www.ebay.com/itm/500-KOMODO-BITCOIN-digital-currency-/263029138786?hash=item3d3dc22562:g:TCoAAOSwjvJZOuxc

[Coinlover87]

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(

[jl777B]

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(

The interest is accrued every minute (starting after an hour for any utxo > 10 KMD with locktime set)

however, it can be argued that it is not there yet as the coins are only created when you spend that utxo.

So you are accruing the interest, but I am pretty sure that until you collect it, it didnt exist. I know govts like to tax everything, but I think it would be hard for them to argue that they can tax unclaimed interest. the reason is that maybe you decide you wont ever claim it (this is possible) and the max coins cap is reached and so you would never be able to.

Due to this, you should be safe from being taxed on the accrued, but not in existence interest

[reffi]

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(

I don't think investment tax is same as income tax, otherwise all the rich will be broke giving a way 40% of their investments, I think its about 14% tax.

[Zeehenk]

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(

I don't think investment tax is same as income tax, otherwise all the rich will be broke giving a way 40% of their investments, I think its about 14% tax.

Depends on where you live, I guess? In some countries you only pay TAX over a certain amount of capital...

Try to find a website where you can calculate this. Usually the government provides a calculation tool for things like this....

[milonite]

any news for the snapshot for JUMBRL?

[MrSunshine]

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(

The interest is accrued every minute (starting after an hour for any utxo > 10 KMD with locktime set)

however, it can be argued that it is not there yet as the coins are only created when you spend that utxo.

So you are accruing the interest, but I am pretty sure that until you collect it, it didnt exist. I know govts like to tax everything, but I think it would be hard for them to argue that they can tax unclaimed interest. the reason is that maybe you decide you wont ever claim it (this is possible) and the max coins cap is reached and so you would never be able to.

Due to this, you should be safe from being taxed on the accrued, but not in existence interest

Keep in mind you must make a transaction at least once a year, or you will lose the interest. About once a week I send myself .001 KMD so the interest is added to my balance so I can compound the earnings.

[Drai]

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(

The interest is accrued every minute (starting after an hour for any utxo > 10 KMD with locktime set)

however, it can be argued that it is not there yet as the coins are only created when you spend that utxo.

So you are accruing the interest, but I am pretty sure that until you collect it, it didnt exist. I know govts like to tax everything, but I think it would be hard for them to argue that they can tax unclaimed interest. the reason is that maybe you decide you wont ever claim it (this is possible) and the max coins cap is reached and so you would never be able to.

Due to this, you should be safe from being taxed on the accrued, but not in existence interest

Maybe I missed past posts that explained it with same accuracy and details.
I had to understand it only after I've lost my interests.

I'd like your opinion James about my case.
Don't you think would be fair a refund of my 630 KMD of interests that Komodo GUI wallet wrongly sent to miners.
Also considering that I warned komodoPlatform and the whole community to not use a bugged version ?
https://bitcointalk.org/index.php?topic=1605144.msg19539061#msg19539061

 
 

[jl777B]

Hi komodo Team and JL777: is it correct that we get the interest every hour without doing anything? I thought we have first transfer the kmd to another address to get the interest? It would Be Not good when we get interest without doing anything because than i have to pay 40% taxes to my Profit :-(

The interest is accrued every minute (starting after an hour for any utxo > 10 KMD with locktime set)

however, it can be argued that it is not there yet as the coins are only created when you spend that utxo.

So you are accruing the interest, but I am pretty sure that until you collect it, it didnt exist. I know govts like to tax everything, but I think it would be hard for them to argue that they can tax unclaimed interest. the reason is that maybe you decide you wont ever claim it (this is possible) and the max coins cap is reached and so you would never be able to.

Due to this, you should be safe from being taxed on the accrued, but not in existence interest

Keep in mind you must make a transaction at least once a year, or you will lose the interest. About once a week I send myself .001 KMD so the interest is added to my balance so I can compound the earnings.

This is not correct. You dont lose interest by not spending it, there is just a cap of 5% interest that can accrue to a utxo

[jl777B]

There seems to still be a lot of confusion about the 5% APR, there is no magic, there are just a few simple rules. Given an understanding of these rules, all questions about how interest work can be answered.

In order to be eligible for interest a transaction has to be over an hour old and the transaction needs the lockTime field set and be for 10 or more KMD.

Given a utxo that conforms to that, when it is spent, up to a maximum of 5% the value of the utxo is added to the sum of the inputs that funds the transaction. The rate is approximately 5% per year, with a bit of variance due to some rounding errors, especially with larger utxo, but on average it will be 5% per year.

That's basically it. All the nodes make the same calculation as the timestamps used to determine the duration are the lockTime field in the tx and the timestamp of the prior block. The compound interest effect is a natural byproduct of the interest being added to a payment as you then have more KMD to earn interest with. There is no special code for compounding.

Just like not spending all your inputs, anything left over goes to the miner. This is how bitcoin has always worked.

The command line komodod has been doing interest calculations properly for quite a long time now. Users that choose to not use the most reliable command line variant need to make sure all the features they need have been fully validated, especially as all the GUI are works in progress and experimental in nature.

[jl777B]

It seems a moderator deleted the following post without explanation. It is 100% relevant to this thread, so please explain why it was deleted.

*****
I think a more simple way to think about it is that client nodes are not for earning fees, but rather trading using native DEX where you never give up control of your funds and can take advantage of liquidity multiplication.

Technically, unix nodes have a much easier time with the networking (assuming firewall isnt blocking ports) and an LP node will need to provide low level services to client nodes to allow the client nodes to publish offer in the decentralized orderbooks.

The reason is that a lot of client nodes using home connections simply wont be able to bind an address in a way that external nodes can connect to them. To solve this methods similar to a STUN server is needed, ie. using a universally accessible node to create an automatic forwarding.

Assuming reasonable network size, the added load on the LP nodes wont be that much and the advantage is that the orderbooks will get that many more orders, liquidity and dexfees. So, it is expected LP node operators have purchased DEX asset to earn revenues from the DEX operation. Since SuperNET has a large stake in DEX, it will be able to run all the LP nodes that the ecosystem needs. Of course, more LP nodes are always welcome as everything is open source and a very important aspect is reliability.

A client node that is depending on another node to provide low level connectivity to the orderbook and other nodes will lose that connectivity if the other node goes down for whatever reason. So if you want more reliability, you would need to run an LP node.

The client node will be divulging their ip address to the LP node that provides the forwarding services, so you cant assume the ip will be private, though of course there wont be any logging of ip addresses by the SuperNET nodes. Since anybody can run an LP node, you cant assume the LP nodes are not logging ip addresses.

However, the purpose of native DEX is to trade, not privacy. To obtain privacy, use JUMBLR.

[Peanutbutterpolka]

@drai that sucks for your loss.

However I seem to remember there being a warning about this being beta software .

Atleast you still have your 53000 kmd, thats over $100,000 in value that james and team have created for you.

I do feel your pain though. Polo allowed 600 ltc to be stolen from me.

So chaulk it up to a loss or an expensive learning mistake, we all make em.

[milonite]

can we have a RoadMap about supernet projects? Smart contracts, Jumbrl, EasyDEX....