bitcoin trading.

ValiantSon

JohnRo wrote: »

It's an eternal mystery this cryto rage thing. What is it you want to see exactly other than any and all counters to your ignorance being removed and the last word always being yours?

I'd like to see you actually present some evidence to support your assertions, and for you to follow a logical argument!

Malthusian

Ah, so it's now "up to 5% interest" (which could be nil), rather than "5% interest" as variously stated by Komodo representatives previously. Now I understand.

Whether investors receive 5% or "up to 5%" presumably depends on whether sufficient external revenue enters the Komodo ecosystem to allow a return of 5% to be paid without diluting the value of existing tokens.

(For an example of when Komodo specifically offered 5% interest, not "up to 5%", see this Reddit thread under Snowbear2 and Youreadaftie: "Going forward, Komodo currency can accumulate interest at a rate of 5% APR per year." *edit* Actually, let's quote the second one in case anyone tries to claim that the use of the word "can" means "it can pay 5% but it might not". Further down the Komodo representative asserts "Komodo currency generates interest at a rate of 5% APR for one year while it sits in your wallet".No "can", no "up to".)

Truly this is an exciting new world of investment where I can renege on previously offered investment terms and if anyone complains I simply say that the market has evolved and their knowledge is outdated.

markj113

Malthusian wrote: »

Ah, so it's now "up to 5% interest" (which could be nil), rather than "5% interest" as variously stated by Komodo representatives previously. Now I understand.

Whether investors receive 5% or "up to 5%" presumably depends on whether sufficient external revenue enters the Komodo ecosystem to allow a return of 5% to be paid without diluting the value of existing tokens.

(For an example of when Komodo specifically offered 5% interest, not "up to 5%", see this Reddit thread under Snowbear2 and Youreadaftie: "Going forward, Komodo currency can accumulate interest at a rate of 5% APR per year.")

Truly this is an exciting new world of investment where I can renege on previously offered investment terms and if anyone complains I simply say that the market has evolved and their knowledge is outdated.

External revenue has nothing to do with the interest generated through the mining process.

Interest rate is 5%, official source :
https://komodoplatform.com/


"Receive KMD Rewards


Any Komodo wallet address that has at least 10KMD will be eligible to receive 5%/12 (0.417%) monthly reward by participating."


They have also always paid the 5% since KMD was launched almost 2 years ago.

Perhaps you should spend a little more time reading and a little less time posting then you would understand the topic you are discussing.

JohnRo

Malthusian wrote: »

Crypto does not facilitate money laundering. It renders money laundering obsolete. That is why the predominant use of cryptocurrency as a currency, i.e. for buying goods and services, not trading it back and forth between speculators, is by criminals to buy illegal goods.

That's quite clearly wishful thinking and false, even the most exaggerated and it has to be said, spurious, research into these aspects of crypto use quoted in the comments above couldn't engineer that conclusion.

That study also acknowledges the proportion of activity it guessed to be linked to illicit use in the headline has been declining since 2015, if not the absolute amount.

I'm not disputing it's a problem, or even that it's significant and needs to be addressed if at all possible. Whether it's contributing to an increase in the overall level of criminal activity globally is what really matters. No evidence to support that.

Personally I'm more inclined to blame the utterly idiotic and counterproductive war on some drugs for all these problems and more, which all exist in the fiat arena to a far greater extent.

Malthusian

markj113 wrote: »

External revenue has nothing to do with the interest generated through the mining process.

So where does it come from? By diluting the value of existing tokens? Or paying off existing investors using new investors' money?

Let's pretend that Komodo only ever sold one token to one investor, who holds it for a year. Where would his 5% come from?

JohnRo wrote:

That's quite clearly wishful thinking and false, even the most exaggerated and it has to be said, spurious, research into these aspects of crypto use quoted in the comments above couldn't engineer that conclusion.

I'm staggered that the profs couldn't trace exactly how much Bitcoin was being used in transactions that were specifically designed not to be traceable. How very rude of the drug dealers and child pornographers to not return their questionnaires.

The only reason to use an extremely volatile asset as payment for a transaction, and paying a significant risk premium to the seller to compensate them for the fact that they don't know how much your consideration will buy them, is the same reason only prisoners use cigarettes as a currency. Because the goods being purchased are illicit. You know it. I know it. Everyone knows it. Anecdotal evidence about some guy who bought a pizza in San Francisco using Bitcoin doesn't alter that. Illegal activity accounts for a minority of Bitcoin transactions solely because the majority of Bitcoin transactions are speculators trading them back and forth hoping they can sell it for a higher price later, which isn't using Bitcoin as a currency.

markj113

Bitcoin was never designed to be untraceable, thats why privacy coins like monero, zcash etc. exist. which kind of goes back to my previous point of why people of little knowledge claim bitcoin is only used by criminals when every transaction is fully traceable through a public blockchain.


If you wish to learn more about KMD here is a link to the white paper rather than me wasting my life spoon feeding you :


https://komodoplatform.com/wp-content/uploads/2018/03/2018-03-12-Komodo-White-Paper-Full.pdf


You need to read up on how mining, coin creation and transaction processing works. You do not need people investing new cash to mine blocks of coins thus creating the required interest coins to pay existing coin holders.

Regarding "watering down" do you class every other investment you make as watered down due to constant money printing and QE?


At least with KMD and other crypto coins the creation rate of new tokens is a known constant unlike fiat where they suddenly decide to print a few extra billion overnight during yet another round of QE.


Also there is a finite limit of coins unlike fiat which is printed to infinity.


You think you know a lot more about crypto currency than you actually do. Anyone reading your posts that does actually understand the technology can see it straight away so ill leave it there and refrain from making any more posts.

ValiantSon

markj113 wrote: »

Also there is a finite limit of coins unlike fiat which is printed to infinity.


You think you know a lot more about crypto currency than you actually do. Anyone reading your posts that does actually understand the technology can see it straight away so ill leave it there and refrain from making any more posts.

And you clearly know a lot less about fiat currencies than you think you do.

chucknorris

ValiantSon wrote: »

And you clearly know a lot less about fiat currencies than you think you do.

Sorry but butting in, but we don't need to know a lot about fiat currencies (big yawn, as far as we are concerned), it is more than enough that they don't pay an income (there is no yield), whereas both property and equities provide us with almost £200k per annum income. I suspect that you will come back with something about capital growth, but we have already had more than £4m capital growth from (mainly) property and shares, we don't need any more, but income is good, which bitcoin does not provide.

ValiantSon

chucknorris wrote: »

Sorry but butting in, but we don't need to know a lot about fiat currencies (big yawn, as far as we are concerned), it is more than enough that they don't pay an income (there is no yield), whereas both property and equities provide us with almost £200k per annum income. I suspect that you will come back with something about capital growth, but we have already had more than £4m capital growth from (mainly) property and shares, we don't need any more, but income is good, which bitcoin does not provide.

I'm not sure that I really understand what your point is.

chucknorris

ValiantSon wrote: »

I'm not sure that I really understand what your point is.

Investing for capital growth without income is not investing, it is merely gambling/speculating. Although I do accept that something like gold (a small percentage) might not be out of place in someone's portfolio (but not mine). That's why I don't need to know a lot about bitcoin.