Thelittleduke:
Could you please share with us your intention to help us with taking over the services and trademarks? what do you intend to do with them? Why the desire to step in? What would that mean to us if you take them over? Do you accept the fact that whiles in your possession they will be still owned by the whole community. Will you have difficulty releasing them back to us after months of you keeping them?
You linkin profile shows you have had tons of experience in management and are a software engineer. Both of these are strong assets that would benefit karma. But we never talked with you and the community knows nothing of your intentions.
We also do not know if you understands our community as well. This community likes to speculate a lot and does little to join those who are trying to help. We do not want to fall into an other category where services are closed due to lack of involvement from karmanians.
i can't blame them as most them think by buying and holding is the help we need on their parts. Which is an insane illusion as they buy and hold for their own interest. This is a general consensus on whole crypto world. We are having difficult time trying to break this mentality. Therefore who ever is willing to take over the services will have to understand it will be a long journey and they will probably get stuck picking up the cost. We will try out best to collect funds to reimburse you but it will not happen easily. So you must understand what you're walking into
Bitwho-
Thank you for engaging in a thoughtful and open dialogue. I appreciate and welcome the questions and will do my best to answer them.
I've been writing code since just pre Apple ][+ days. I've written compilers and runtime systems, hold or contributed to several patents, and lately since getting an MBA have been doing a tour of duty through a variety of industries. I built an ISP from just three analog phone lines (1 x 28.8k upstream and 2 x 14.4k for customers!) up through six acquisitions and one merger consolidating five data centers and taking in services via OC-12. Including filing and becoming a licensed CLEC to offer VOIP services in MN using a Class-5 Metaswitch. I still code to this day, preferring Python and a little PHP when necessary.
Fundamentally there is only so much hashpower chasing too many coins. We are already seeing the very beginning of a consolidation with the AUXPOW work the Dogecoin team put in place to allow it to be merge mined along with Litecoin. The ASICS have sucked most of the fun out of mining. The future of crypto is in value-added services.
[/quote]
My interest in Karma is multi-fold. I like the name and the marketing side of it since day one. My own personal philosophy centers on Buddhism so the whole "karmic debt / karmic boomerang" thing appeals to me.
it has a great name i agree. what got me hooked to it. I had 200 mill coin and could sell for 5-10 satoshi. at that time bitcoin price was high.
I took over the Givecoin when it was on the verge of falling apart as well -- partially because we had made an investment into the coinbase by acquiring shares on the open market Bittrex (we currently hold about 15% of all mined coins to date) -- as the reserve / internal currency for
https://doabitofgood.comit is always good to see someone trying to help a community in trouble. How is that going? Is there a main ANN forums i can read more about this coin and its community? Could you share the amount of time you spend with Givecoin ? If you decide to get involved with Karma how much time are you willing to dedicate to it?
There is a natural synergy between the two stated purposes as well as a potential to merge mine the two -- or even combine them in a new better coin. As of right now we are still listed on Bittrex in a disabled status while we fix our broken KGW and migrate to a Proof of Stake based model which is more compatible we believe with the tenants around doing good.
Karma coin's community will have the last word but i can tell that we are not looking to combine any coin or change our name. We are that spoiled child that would like to keep all the toys. Karma is Karma, so as long as we are capable i am sure we would be able to work together mission wise. Not sure if we are looking into any kind of merge mining. I believe the miners are a part of the coin system that works as a reward. Miners, just like investors , their core interest is to profit. therefore i believe we should not cater to them anymore. Instead i believe we should focus on increasing real life value to karma so then the miners will have no choice but to mine us. hence you can see why i do not find it appealing to merge mine with any coin and create more miners in the system.
Again i am not saying we do not need the miners securing our network. because we do. But our method should not be by begging miners to join by making it easier for them to mine us but by making it unappealing for them. We do this by focusing our increasing marketcap volume and secure our network.
even at this low price volume there are miner munching off our coin. they do not care about our network security they are mining us because there is buy volume in the market. close the market and you will find 10 miners mining us after.
Our REALLY exciting prospect at Strength in Numbers Foundation is the
http://www.idcoins.org -- a coinbase for Identity and Reputation -- Karma could be a good related side chain to act as the stand in for the Reputation component.
i read the pdf. could you elaborate some more on this. it seems like this is the main reason you have for karma coin. Please try to share as much of your vision on how karma with infuse with this.
As for the community I have a pretty good idea of what motivates them. I have also watched with great dismay at the lack of sophistication and understanding of basic market mechanics. Fundamentally Karma is a 'product' and a product needs a consumer base. You cannot push the product onto the market and expect it to reward you. You cannot impact the price by throwing more hashpower at it.
agreed. the faster we start forming bussiness type services and go after all kinds of target the better we are. only marketcap value will mature karma from an hoby coin into a real used service.
As for reimbursement, I don't need any. I've been mining since 2010 time frame and in fact built the worlds first OCTO-BAMT system. I have more than enough crypto-assets of my own to leverage and I have grown and sold several businesses.
nothing's free : ) But based on how you will reveal your plans with karma we will understand better what you mean by "As for reimbursement, I don't need any"
What I WOULD want of the community is a bunch of "Karma Ambassadors" -- people who do outreach and build the community by getting more people involved. Introducing our coins to groups who could use it -- create donations to get them involved -- because fundamentally we need to EXPAND the economy and create more velocity in the transactions.
gonna be frank with you here. It will be hard to find tons and "Karma Ambassodors" Not a lot of people here will be easy to ask to fulfill tasks. But i have faith in the facebook community. What we do have is few people who come here every day and try to push people to do stuff.
Personally I would like to see the coinbase have some sensical and rational number of coins -- 92 Billion is pretty unbelievable and very few people can get their head wrapped around a number that large.
Also, I would strongly suggest the base move to a more POS based reward system for those that want to hoard coins.
Take marketing number like 10 Billion -- closer to the world population and socialize a "karma for everybody" approach.
I agree that 92 bill is too many coins. Strongly do not agree that POS is the answer. I have made lenghty post why POS is not a solution. Also it is still buggy and creates risk of %51 when everyone rushes their coin into one address such as an exchange service.
i wont mind going over why Pow >POS but i wont do it now.
It could become the coinbase of reputation -- but I think the current holders have to give up the fantasy that its going to magically increase in value because they want it to.
again you will need to give me an simple explanation on how you see Karma implemented here. The PDF had only 27 pages.
I never thought Bitcoin was the "be all end all" of crypto currencies but rather a stepping stone to something greater. I don't think Karma is the end game either. We can create something that actually captures peoples hearts and minds and remove as much of the taint of "get rich quick" odor so many alts suffer from.
The coins that are going to survive have to offer something other than a currency. Bitcoin already holds that designation. Whatever advantage Litecoin held with a faster confirmation and a "harder algorithm" as all but evaporated. The only thing X11,X13 et al offers is a way to "re-level the playing field for new entrants" -- nothing is immune from being turned into an ASIC. What we need are new models of reward like "proof of storage" and others.
I hope that helps to explain my background and interest as well as some of what's top of mind for me and Karma.
Let me know what else you'd like to know?
-dvd
Sorry it took so long to reply to this post. thank you for taking the time to answer my question. as you can see i got some more.
At this time i would encourage anyone to help out by sharing your thoughts. Remember Karma is not mines , your or his. Karma is everyone and no ones! everyone has an equal right to it.
-Who
