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.
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.
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.comThere 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.
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.
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.
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.
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.
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.
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.
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
