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

[Big Naturals]

What about community pools?

Community pools make sense to me but probably not enough time to get them up and running for this election. I would not set one up myself but would support them if they needed it, but I doubt that would be the case now, the election results seem to show that candidates offering some rev shares did pretty well, and I don't see that trend changing next year.

I would suggest pools offer a tiered rev share structure based on kmd price, at current prices some NN will not be that profitable, and if prices drop further the critical goal is keeping the NN up and running, not paying out rev shares. Next election I think we will see more thought put into rev share formulas.

Having top 30 operators run again and secure multiple NN's is not ideal IMO, but perfectly acceptable in a competitive process, and this happened this year to some extent. I would never advocate trying to ban this, but I do like having countervailing forces at work to push back the other way towards increasing the number of single node operators, and community pools can help do that.

The network can run perfectly fine with a small number of operators running multiple notaries, but the benefits of having more talented people with income sources working in the ecosystem should be obvious to everyone, and notary operators obviously do more than just run notary nodes.

Next year we'll probably see a few legit business entities running candidates, maybe like a franchise of independent operators running under a common name with some shared infrastructure. That would be ok IMO, but I hope a few community pools run also.

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[layer1gfx]

interesting to see how komodo is entering asia via strategic partnerships.
valuenet capital's portfolio looks like they know what they are investing in.
blocnation is a proper product/use-case and not just a value asset.
komodo keep going!

[Ramone Estavez]

I will continue using my ~2.7% of VOTE to support new entrants to the KMD community who demonstrate they can run a high quality NN, and who don't mind sharing some profits with their voters in the first year to get the opportunity. Remember, anyone who consistently stays in the top 30 doesn't need any further help from voters, so rev sharing is only ever going to be a consideration for new entrants, and NN operators who performed in the bottom 50% the previous year.

Hey man, it's good to be a whale and support new guys but why you got to take any profit share for yourself? Just vote for the best guys who help komodo platform, your rich already bro

[kaicrypzen]

I will continue using my ~2.7% of VOTE to support new entrants to the KMD community who demonstrate they can run a high quality NN, and who don't mind sharing some profits with their voters in the first year to get the opportunity. Remember, anyone who consistently stays in the top 30 doesn't need any further help from voters, so rev sharing is only ever going to be a consideration for new entrants, and NN operators who performed in the bottom 50% the previous year.

Hey man, it's good to be a whale and support new guys but why you got to take any profit share for yourself? Just vote for the best guys who help komodo platform, your rich already bro

In that same post, P-Trump says:

... and get some rev share for myself if I can while I hodl KMD to maintain my VOTE in these early years.

So it seems one reason is to maintain their voting power.

Plus, for all you know P-Trump may not use their money for personal interest ...

[hiphoptrail]

Question about redeeming interest...

What is the best system I should follow to maximize my interest?
Everyday, week , month etc...

Thanks in advance.

https://financialmentor.com/calculator/compound-interest-calculator
(scroll down the page a bit)

so, is it best to redeem interest daily

remember that you should have at least 10kmd in one UTXO and there is a 1 hour locktime before the interest will start accruing. So if you do it everyday, there is 365 hours in locktime in one year.  The best i think so far is monthly.
https://www.atomicexplorer.com/#/interest

I assume you wanted to refer to this link https://www.atomicexplorer.com/#/interest-calc instead? You can simulate different strategies. Indeed if you take into account the number of hours when no interest is accrued; among the frequencies suggested by the site, monthly seems to give the highest returns.

Thank you all for being so helpful. It is nice to see a community that actually cares and doesn't insult a post from a newbie.

As I find myself spending more time learning about the komodo project, it opens up more questions that a non-tech person like me
has a hard time comprehending. Please take that into consideration as I post questions


native vs lite

is it safe to say to following...

lite is when you don't download the entire blockchain?

native is when you download the entire blockchain?

If this is correct, what are the benefits of downloading the entire blockchain when I can just go into my wallet using the lite?


Also, now don't flame me please... what does spv mode stand for?


Thanks in advance!

[oblox]

Question about redeeming interest...

What is the best system I should follow to maximize my interest?
Everyday, week , month etc...

Thanks in advance.

https://financialmentor.com/calculator/compound-interest-calculator
(scroll down the page a bit)

so, is it best to redeem interest daily

remember that you should have at least 10kmd in one UTXO and there is a 1 hour locktime before the interest will start accruing. So if you do it everyday, there is 365 hours in locktime in one year.  The best i think so far is monthly.
https://www.atomicexplorer.com/#/interest

I assume you wanted to refer to this link https://www.atomicexplorer.com/#/interest-calc instead? You can simulate different strategies. Indeed if you take into account the number of hours when no interest is accrued; among the frequencies suggested by the site, monthly seems to give the highest returns.

Thank you all for being so helpful. It is nice to see a community that actually cares and doesn't insult a post from a newbie.

As I find myself spending more time learning about the komodo project, it opens up more questions that a non-tech person like me
has a hard time comprehending. Please take that into consideration as I post questions


native vs lite

is it safe to say to following...

lite is when you don't download the entire blockchain?

native is when you download the entire blockchain?

If this is correct, what are the benefits of downloading the entire blockchain when I can just go into my wallet using the lite?


Also, now don't flame me please... what does spv mode stand for?


Thanks in advance!

That's exactly it... Lite doesn't require a full blockchain download, Native does. The benefit of Lite is obviously not having to use your bandwidth and speed to do transactions (especially the case if you're far behind in blockheight). However, the benefit of Native and any time you download the full blockchain yourself is you aren't relying on another entity to verify the blockchain (you do that when you download the blocks and get caught up with the network height).

SPV simply stands for "simplified payment verification" and Electrum is a good example of an SPV wallet.

[hiphoptrail]

In that same post, P-Trump says:

... and get some rev share for myself if I can while I hodl KMD to maintain my VOTE in these early years.

So it seems one reason is to maintain their voting power.

Plus, for all you know P-Trump may not use their money for personal interest ...

I have a lot of KMD so I am doing well in crypto assets, but I don't trade or mine coins so I have no crypto income as such. I could sell the 5% interest and live off that comfortably, and eventually I will need to do that (or run a NN myself), but selling will slowly diminish my VOTE, and in these early years I value the VOTE very highly as it allows me to have some influence over how komodo evolves in these formative years.

The notaries will always play a critical part in the ecosystem, not just technically from notarising, but also in providing talent in other areas like governance, infrastructure, marketing, assisting jl777 with dev work, and generally keeping the platform as decentralized and open as possible.

There will always be a tendency for existing NN operators to form personal bonds and support each other, and this is natural and not something we should ever discourage, BUT, it is a powerful centralizing force if it means we end up having a few guys in the inner sanctum running multiple NN and new guys without capital to buy enough KMD to elect themselves don't get a chance. Think of jl777 like a President/Prime Minister, is it better to have 4 guys in the Cabinet or 40?

I understand some people don't like this approach, but I want to have some influence for at least 5-7 elections and getting some rev share will help me to do that. I know it's a bad look for some people (selling VOTES), but outside family and very close friends most interactions are 'transactional' in nature - you give me something I want and I'll give you something you want in return - even if the thing we are giving/receiving is 'good vibes' from some non monetary interactions.

For some KMD holders the thing they get in return for their vote is some peace of mind from supporting a candidate they appreciate, and from knowing they supported someone who will run a good NN, and that's great, I totally get that, but the voter turnout indicates a lot of small/medium holders don't value that satisfaction highly enough to bother voting at all, and that further advantages incumbents and their supporters who will always vote.

If I keep my VOTE % around the current level I can keep the door open for new talent for a few years, and all I will ever get is a rev share in their first year, or if they don't make the top 30.

Great posts p-trump...I read them all. You make a lot of sense to me, a non-tsch person - thanks

I would like to address one thing you said and put my spin on it. I highlighted it above.

I don't believe that its the lack of holders that don't value it, I believe it's the intimidating nature of the crypto space and lack of simple, idiot-proof ways of participating for the non-techies.

[remol]

Still ultra bullish on this coin. Atomic swap will be certainly a determining feature that is and will make KMD stand out from the crowd. Still convinced it can be a top 10 CMC contender.

[aziernest]

Still ultra bullish on this coin. Atomic swap will be certainly a determining feature that is and will make KMD stand out from the crowd. Still convinced it can be a top 10 CMC contender.

as of todays market capital, 1 KMD needs to be 27.7$ to be ranked#10 on cmc, that looks very doable, but lets the bull come out first.

[clovis A.]

That was some finish in the notary election race yesterday. I was somewhat surprised by the massive amount of votes that were cast in the final hour.  Fun to observe in real time haha

With that said, I'd like to congratulate all of the winners.....job well done and good luck!!

Congrats to North American winner, XrobesX, as well. Most excellent seeing my long time crypto home-brother retain his operator position for the next 12 months.  Congratulations, XrobesX!!!

[kaicrypzen]

I made an outgoing transaction from the Agama wallet, as a consequence a new address was created to receive the change, I then emptied that new address, and it disappeared (I'm displaying all the addresses even the empty ones). Is this behavior expected? Is it possible to retrieve the private key of that address? Thank you.

[oblox]

I made an outgoing transaction from the Agama wallet, as a consequence a new address was created to receive the change, I then emptied that new address, and it disappeared (I'm displaying all the addresses even the empty ones). Is this behavior expected? Is it possible to retrieve the private key of that address? Thank you.

In Native mode, you can see the private keys in the settings portion of the wallet.

[hiphoptrail]

Great posts p-trump...I read them all. You make a lot of sense to me, a non-tsch person - thanks

I would like to address one thing you said and put my spin on it. I highlighted it above.

I don't believe that its the lack of holders that don't value it, I believe it's the intimidating nature of the crypto space and lack of simple, idiot-proof ways of participating for the non-techies.

Thanks for the feedback

I agree the crypto space can be very intimidating for non tech people, I've modified my approach quite a bit since I first started. In the early days, I thought diversification into alts was a good strategy, but later I found I just didn't have the time and skill to do enough in-depth research to make good investment decisions, and learning how to secure everything kept me awake at night. Leaving coins on exchanges because you don't feel comfortable using the wallet securely is asking for trouble, eventually, you will be the victim of an exchange hack, account freeze, government crack-down or exit scam by the exchange owners, so you have to control your own private keys to sleep well at night.

About 18 months ago I decided to simplify my portfolio down to just a few great coins I actually understood and believed in, and then the task of keeping up to date as a user is not so intimidating. Warren Buffet says good investing is like batting in baseball but without the three strikes and you're out rule, so it doesn't matter how many potential 'hits' you miss by not having a swing, it only matters that when you do swing your success rate is very high. KMD is by far my biggest asset now, so for me it's essential to keep up to date, plus the tech and vision jl777 has created is mind blowing, so I'm extremely confident KMD will be a home run eventually.

In my earlier crypto days I was always chasing the next big thing, but unless you're working at this full-time the landscape is too big now, probably even working full-time if you're a lone wolf, so a better strategy for me has been learning to not worry so much about mooning coins that I didn't invest in, I just concentrate on the quality coins I have invested in and use my limited crypto time (before 6am & after 9pm) to stay up to date.

Great read p-trump!

It's as if you and me are on the same page. I have been accumulating komodo based of a successful friend of mine that has been in this
space for 5 years. I first tries the chasing, then the ico's, then the scalping and it all taught me a big lesson...find a project that has deep
 beliefs in personal freedom and he turned me on to kmd. I started loading up my bag and now have a little over 1.2%. I wish I would of listened to him sooner but I guess we all have to go through swings and misses. He started the crypto warriors group on facebook and I would be lost if it wasn't for him. I don't know his holdings but I do know he gives back above and beyond.

[hiphoptrail]

...find a project that has deep beliefs in personal freedom and he turned me on to kmd

I agree 100%, in the last 12 months I have had accounts frozen without warning on bittrex & poloniex with funds trapped, and my main Bank account closed because I had many transactions coming from a registered and legally compliant crypto exchange in my country with fiat options, and I was fully KYC'd on that fiat exchange and doing absolutely nothing illegal, and paying all taxes. This is the reality now, crypto use is under attack even when it's legal and you're following the rules. This is why I believe in KMD and BarterDEX, I should be free to use my money as I want, but I am forced by my employer and some utilities to have a Bank account with debit/credit card facilities, but the Bank can arbitrarily close my accounts because I use crypto currencies. This is wrong, people should not be treated like criminals for wanting freedom over their finances!

wow, same here. I had my bank freeze my account under the "fraud" issue. they caused major problems for me. If they can do that, they can control everything you do. This is another reason why I am turned on to kmd. I have yet to "master" barterdex but need to spend more time learning.

As the crypto space gets squeezed by the "authorities" , we need to keep moving forward and to not allow these centralized, so-called authorities to steal our labor. We live in unchartered territory and crypto will make the difference. Governments around the world have had a strangle hold on all of us until now.

Control the "money" and you control the people. Crypto is the way to go. But it's not a bang and the issues go away. Governments along with those that have controlled the money supply will not go away qietly. This is why we need to first 1. get out of debt - debt = bondage 
2nd. - rally the like-minded people to enter the political realm and not be afraid to speak truth - this is the biggest hurdle to overcome but one by one, we can make a difference.

[david1365]

WTF!!!
The agama wallet native mode doesn't have any option for setting password!
How to keep my coins secure in agama native mode?

[CHMEX]

WTF!!!
The agama wallet native mode doesn't have any option for setting password!
How to keep my coins secure in agama native mode?

By using a seed / priv key which you dont share with nobody. Or what do you mean?

[david1365]

WTF!!!
The agama wallet native mode doesn't have any option for setting password!
How to keep my coins secure in agama native mode?

By using a seed / priv key which you dont share with nobody. Or what do you mean?

In the native mode, no seed is given to you. For example, if my computer is confiscated by the police, since my wallet.dat file has no password, they can spend my coins easily. It is very strange that the JL777 has considered infinite options for Komodo platform, while has not paid attention to such an important option!

I'm not a troll. I only have a lot of Komodo coins and I want to keep it in a full node and fully secure wallet. The password setting option is one of the most basic necessities of a wallet in the crypto world.

[barbierir]

WTF!!!
The agama wallet native mode doesn't have any option for setting password!
How to keep my coins secure in agama native mode?

By using a seed / priv key which you dont share with nobody. Or what do you mean?

In the native mode, no seed is given to you. For example, if my computer is confiscated by the police, since my wallet.dat file has no password, they can spend my coins easily. It is very strange that the JL777 has considered infinite options for Komodo platform, while has not paid attention to such an important option!

I'm not a troll. I only have a lot of Komodo coins and I want to keep it in a full node and fully secure wallet. The password setting option is one of the most basic necessities of a wallet in the crypto world.

The problem is with Zcash itself, they disabled wallet.dat encryption because it could corrupt z-addresses and led to loss of all funds on them:
https://github.com/zcash/zcash/blob/master/doc/security-warnings.md
Afaik there is no solution for this issue yet, when Zcash fixes this problem then Komodo will inherit the same fix

For now don't backup your wallet online, encrypt your hard disk and don't share the computer with people you don't trust

[Bazzzil86]

https://tothemoon.live/?IsPast=False&Page=1&Month=0&Year=0&CoinTypes=Komodo+%28KMD%29&SortBy=0 - FIRST ICO ON KOMODO! SOON!   

[Big Naturals]

In the native mode, no seed is given to you. For example, if my computer is confiscated by the police, since my wallet.dat file has no password, they can spend my coins easily. It is very strange that the JL777 has considered infinite options for Komodo platform, while has not paid attention to such an important option!

I'm not a troll. I only have a lot of Komodo coins and I want to keep it in a full node and fully secure wallet. The password setting option is one of the most basic necessities of a wallet in the crypto world.

After every use I encrypt my wallet.dat, then my coins are safe. I do that with all wallet.dat files. The other option is using the command line to export your private keys into a safe place like a keypass, then you can delete wallet.dat, BUT, be careful you get priv key for every address.

Having spv & native mode is very convenient and adds options, but you need to understand how they differ to avoid making an assumption that loses coins, like assuming your native mode priv keys are derived from the spv seed.

Be careful out there!