siddhartha-komodo [10:12 AM]
Okay, so how do you see KMD putting food on the table for the family?
jl777 [10:12 AM]
we solve the previously unsolved problems in crypto
[10:12]
this has incredible market value
siddhartha-komodo [10:12 AM]
agreed, but how exactly does it translate?
jl777 [10:12 AM]
thus KMD goes up in value
[10:12]
people who have KMD have more value
[10:12]
eventually they can live off the 5% APR
siddhartha-komodo [10:13 AM]
Okay. So, as KMD becomes a larger and larger nexus of being a "one-stop shop" for solving crypto problems, people can come use it for whatever services it offers, and they pay KMD to use those services. As the demand for KMD goes up, so does the value of holding KMD. Is that the idea?
jl777 [10:13 AM]
or someone can spawn an assetchain
[10:14]
create your own money
[10:14]
add value to it, tap into the built in audience of the community
theflippening [10:14 AM]
@jl777 what price do you predict for KMD a year from now?
jl777 [10:14 AM]
1.00000000 KMD
siddhartha-komodo [10:14 AM]
lol
jl777 [10:14 AM]
I dont do price predictions (edited)
theflippening [10:14 AM]
fair enough
siddhartha-komodo [10:15 AM]
So, I think I'm starting to capture KMD now, thank you. I'm still curious about this asset chain.
[10:15]
By the way, I'll be happy to write this up as a blog post in reddit, to share the information with others.
theflippening [10:15 AM]
i predict top 5 coin, over $100 for sure :slightly_smiling_face:
siddhartha-komodo [10:15 AM]
Hopefully that will help a bit with the workload of getting out the message.
[10:15]
But anyway, back on asset chains.
chmex [10:16 AM]
So basically all this rumors of countries wanting to issue their owns coins (like EstoniaCoin) could run as be a KMD assetchain
siddhartha-komodo [10:16 AM]
You spawn your own asset chain, and it's advantageous to use KMD because it has all these built in features (like storage, or swapping tokens, pegged currencies, etc.).
[10:16]
How does this relate back to KMD.
jl777 [10:16 AM]
simply the dPoW
[10:16]
you need to use KMD to do the dPoW
siddhartha-komodo [10:16 AM]
Why would a person want to swap back and forth between BTC and LTC, except as a hedge against each other in value?
[10:17]
dPoW, the delayed Proof of Work
[10:17]
I did read the white paper on that, but it was above my head...
jl777 [10:17 AM]
each assetchain thus needs KMD to run the dPoW and without it their chain wont have the security levels
siddhartha-komodo [10:17 AM]
Okay, so if they keep a connection to KMD, they get a few benefits.
jl777 [10:17 AM]
the problem with new blockchains is that they are weak and can be attacked (destroyed sometimes)
[10:17]
that is not good
siddhartha-komodo [10:17 AM]
They can split off entirely if they want to, but by staying with KMD they get some added security.
jl777 [10:17 AM]
with dPoW you can make a weak chain strong
siddhartha-komodo [10:17 AM]
Help me understand this.
jl777 [10:17 AM]
for the cost of KMD txfees
siddhartha-komodo [10:17 AM]
This is good stuff.
jl777 [10:18 AM]
it adds a lot of security to the assetchain
siddhartha-komodo [10:18 AM]
Right, so owning KMD again becomes beneficial.
jl777 [10:18 AM]
and it is like clockwork for the KMD tx
[10:18]
more tx, more demand, higher price
siddhartha-komodo [10:18 AM]
But doesn't that also then slow down the KMD blockchain?
jl777 [10:18 AM]
with just a few chains, it wont matter much, but if thousands of chains, then it starts becoming a lot of demand
siddhartha-komodo [10:18 AM]
And wouldn't that make KMD a parent blockchain, even if it's not forcible in nature?
jl777 [10:18 AM]
KMD goes at one block per minute
[10:19]
KMD in that case is selling a service to the assetchain
theflippening [10:19 AM]
is there a max circulating supply for kmd
siddhartha-komodo [10:19 AM]
Right, so what happens if KMD explodes and there are 10,000 different asset chains trying to use it?
jl777 [10:19 AM]
explodes?
siddhartha-komodo [10:19 AM]
as in, gets really popular
jl777 [10:19 AM]
there will be a lot of KMD transactions
siddhartha-komodo [10:19 AM]
right.
jl777 [10:19 AM]
but it wont reach the price of 1 BTC
[10:19]
so still a lot cheaper to notarize to KMD than to BTC directly
[10:20]
it is blockchains as a customer of another blockchain
siddhartha-komodo [10:20 AM]
I don't understand this part.
jl777 [10:20 AM]
sort of a chain 2 chain economy
[10:20]
probably not a topic yet for MBAs
[10:20]
since it only was invented with KMD
siddhartha-komodo [10:20 AM]
Would this be like a situation where, say you have...let's make up an asset chain: XKMD.
[10:20]
It performs X service.
[10:21]
Well, it's not a topic yet, but it sure will be
jl777 [10:21 AM]
XKMD wants security so it enables dPoW
siddhartha-komodo [10:21 AM]
I'm absolutely fascinated, and many of my classmats are, too
theflippening [10:21 AM]
@jl777 is there a max supply of coins for KMD, if not, then staking for returns creates more coins, lowering the price per coin if the market cap doesnt increase, because more coins are added to the pool?
jl777 [10:21 AM]
not XKMD chain is making regular KMD notarizations
[10:21]
200 mil max coins
boosterafk [10:21 AM]
joined #komodo
siddhartha-komodo [10:21 AM]
hang on a sec
[10:21]
Going back a bit
jl777 [10:22 AM]
good for 13 years or so, which is about double the entire crypto history till now
ariston [10:22 AM]
:popcorn:
siddhartha-komodo [10:22 AM]
So, XKMD splits off as an asset chain from KMD. It's started by some blockchain entrepreneur
[10:22]
She thinks that she can provide some service using the KMD blockchain, but she's also going to go her own way a bit
jl777 [10:23 AM]
wait
siddhartha-komodo [10:23 AM]
She starts X service, and she finds 50 people to be nodes for this blockchain...
[10:23]
okay, waiting
jl777 [10:23 AM]
just by existing and using KMD, that is all that is needed to create a constant demand for KMD
[10:23]
nothing deep
[10:23]
all blockchains need security
theflippening [10:23 AM]
ok good to know, so what happens after all coins are mined by staking, do we start getting paid in btc or how would that work?
jl777 [10:23 AM]
but there are too many blockchains now for any new one to realistically get enough hashrate to be secure
siddhartha-komodo [10:24 AM]
listening
jl777 [10:24 AM]
@theflippening I make it a rule to solve the current problems first, there is 13 years to figure that sort of thing out
alienwalkerx
[10:24 AM]
does segwit change anything in the future?
jl777 [10:25 AM]
if it does komodo platform is right there along with it since we have CHIPS a segwit enabled realtime gaming coin
[10:25]
@siddhartha-komodo if there is a regular sale made like clockwork the demand side is there with each assetchain
siddhartha-komodo [10:26 AM]
So, does the assetchain then "check in" with KMD on each transaction?
jl777 [10:26 AM]
with a relatively fixed supply of KMD and each new assetchain creating more demand (not to mention all the other usages), there is this economic things of supply/demand
siddhartha-komodo [10:26 AM]
okay
jl777 [10:26 AM]
it notarizes to the KMD chain every so often, basically storing a bit of itself on the KMD chain
[10:26]
that prevents an attacker from rewriting the chain
Great talk on Slack at the moment #komodo