Topic: [ANN][KARM] Karma / ₭ / X11 - page 15. (Read 583250 times)

Success cannot be codified, unfortunately.

You can have none of those things and still have a successful coin, or a couple, or a completely different set of things.

This is way better.

For me the unification and revival of the community of KARMA holders and believers come first and foremost. X11, KTN we are all attracted by the principles it stand for.

If the community can revise the above suggestions of kosmost so that it will be MORE FAIR, MORE PRACTICAL, MORE USEABLE in the long run. I can help with these efforts.


THESE are what I will be looking for the new plans:

1. NEW PLATFORM (to be voted by community)
2. NEW TOTAL COINS (")
3. ACCEPTANCE OF BOTH KARMA X11 and KTN for swap(voluntary swaps)
4. NEW THREAD
5. SOLID WORKING TRUSTWORTHY TEAM
6. TOTAL KILLING OF ALL KARMA X11 backend support and markets.
7. KARMA named new coin

The absence of any one of the above 7 critical items would only spell disaster and a failure waiting to happen.

Good Karma to everyone who cares.

-east

On X11?

Sounds easy enough, but who will develop it? No one here will do it.

Scrap the old karma, both the token and the original.
Do a fair swap for both token and old karma to the new karma.
Start fresh from the beginning and avoid the mistakes from those two.

[New "Karma swap" Proposal Below]

The ideas above seem very feasible. Thanks, Alphi and Bitwho for your input on that.

However, we all know that we don't have the resources to do those (preferred) things, which is why a few days ago I posted a plan to re-do the x11 wallet and pay for it myself.

I thought it would be best to re-do the current wallet with better specs. But when I saw how many bad coins there are just waiting in wallets (with the biggest wallet being a stolen exchange wallet that has recently had activity) I thought it was better to make a fresh start.

With limited resources, a platform made sense. Having researched all the platforms, I thought Ethereum made the most sense.

So considering our lack of resources I have the following proposal. It's probably stupid to some of you, but at this point we don't have much choice. (And again, only 7 pages of posts were written in the past 18 months. An average of one page every 2.5 months. Honestly, not much was happening before I showed up, and Bitwho still wants to hang on to the keys in case someone else wants to review the coin in 2018 or whenever.)

1) I will facilitate a fresh start for Karma holders that don't mind up to half of our supply being stolen, in a new coin on the Ethereum blockchain that one could swap their Karma coin for at a rate of 100,000:1

1 million total coins, with whatever is left over being for sale on the open market.

2) The coin will be called Good Coin and represent all of the good things that can be done with cryptocurrency and keeping in line with Karma's original values. A fresh coin may make it easier for Karma swap holders to recover their investments, despite the possibility of lots of bad coins.

3) Users that have Karma would go to the [ANN] page to get the instructions on how to do the swap

4) The swap would be good for 3 months, starting from June 19, 2017

5) the user would set up a new wallet for the new coin with the instructions provided. (I will handle the wallet stuff.)

6) They would then send their Karma to a burn address, then post their transaction hash as a reply, as well as the amount of Karma sent.

7) A volunteer or two will be needed to put all of the replies into a simple spreadsheet. This person(s) will be the party solely responsible for the integrity of the swap.

There's no need to wait until the end of the period to get your Good Coins. First come, first served. The Good Coins will be sent within 48 hours of the transaction.

9) In the meanwhile, an exchange would be set up for Good Coin for everyone in crypto to buy/sell it

10) A volunteer will be needed to update the OP with information about Good Coin, where to buy it, how to mine it etc. The community would then begin to grow the coin and hopefully watch their coins grow substantially in value. With a very limited supply of coins, this could easily happen.

For those who say that is doesn't matter if billions of coins are in the swap, this is your chance to prove it.

(For mining, merged mining with Ethereum, with a block reward of n. Someone would have to figure out the math. Right now the average block time is 15s https://ethstats.net/ - see more historical info (and comparisons) at https://bitinfocharts.com/comparison/confirmationtime-eth-doge.html It's about 2m blocks per year, so if we assume 5 years of mining then it could be 0.02 Good per Ethereum block found. We can provide this reward to anyone mining Ethereum. With no additional power needed to get the reward, miners may accept it and the distribution could be more even than it is now)

A fresh start, despite all of the bad coins that may be in the swap.

Like I said, perhaps it's a stupid idea but it's a thought. I also want to be able to swap my coins.

SAME

The Karma coin wallet on Yobit is working again Thank goodness! I cannot wait to see Karma grow in value soon.

a snap shot. yeah theoretically that would make sense. maybe doing this snap shot to even a bitcoin 2.0 like ether /counter party etc. i too think the miners should go. not sure if karma can be secured again.

I hear you.. I am also a developer with 15 years experience.. just better with C# than C++ so not as useful with programming wallet functionality.

I've had another think about this and those other devs are right.. dividing the coins by 1000 with a hard fork would cause an accounting nightmare.

However it would be theoretically possible to create an entirely separate block-chain and preserve everyone balances/1000 at a given point in time.

If you use the same code base with a few minor tweaks it is possible to use the exact same addresses, keys and wallets.

this means that one could in effect create a parallel blockchain by premining 76 million or so coins and then automatically send those coins to the exact same addresses in the same quantities (divided by 1000) as they are in the original blockchain. Rather than just a simple premine however, this would be a mathematically provable & transparent, even & fair distribution of the new coins.

In effect the distribution would be exactly the same in percentage terms and users would only need to copy their old wallet.dat over to the new client in order to get access to their coins.

this essentially would be a snapshot clone of the existing block chain at a fixed point in time rather than a fork. To avoid confusion it would need to be called something else .. like Karma 2.0 and the community would have to coordinate with themselves and the exchanges to make it work.

One could even take this idea a step further and blockade known stolen coin addresses and redirect those coins to a new fund for community development.

Theoretically this can all be done but it would be quite a bit of programming effort.

The upside is that everyone could move onto the new block-chain and benefit (even if they aren't able to participate initially) and we could tailor the new coin to better meet the needs of the community.
The downside is that the new block chain could be rejected by the community and could end up being a complete waste of time and resources.

The other alternative would be to start completely fresh coin with no premine and just let those people who are keen on developing the community, mine to their hearts content.

because Karma is caught in a catch 22 situation (or is that Catch 44?)

1)
At 1 satoshi its is impossible for any coin to have liquidity on trading markets because the price cannot move up easily and cannot move down.
Karma was only tradeable when it was being traded against Litecoins in the 22-100+ litoshi range.

add to that.. if the price ever does go up it will simply be knocked back down again by dumpers who stole the coins from Cryptsy and other hacks.

2)
As a currency Karma is as useful as Zimbabwe dollars. A loaf of bread costs about K 76,900 at today's prices.

3) the people who hold the most Karma are not contributing to the community in any way whatsoever.. not even saying hello let alone using their karma for good purposes. They have either abandoned the coin or are simply too greedy to even spread goodwill let alone the good message about Karma. A community that does not even live up to its mission statement only discourages other people from joining the community.

4) with a block reward of 10,000,000 (it started out at 510,000,000 i.e. 51X the current rate) it is almost pointless to mine karma because miners benefit least of all from any increase in the value of Karma. It's actually easier and cheaper to mine another coin and then sell that to buy Karma. That means that the network is far less secure than it could be.

oh man.... Kosmost is back. I cant believe it. What was that a ride back then. All the best

KarmaKaguy

Why should we change anything on KARMA in the first place...

Look at MOON:

221,991,143,521 MOON

Look at BYTECOIN:

183,018,069,583 BCN   

Look at DOGE:

109,799,737,211 DOGE   


They also have big number of coins and trading above 1 sat... maybe we just need to work together on the existing coin and get more people interested in the coin.  Lower supply doesn't mean more value for the coin. When you would reduce the number of coins of KARMA by 1000, will KARMA then trade 1000Sats or lower? It doesn't make sense to reduce the number of coins by 1000 and then find out that KARMA is only trading 100 sats...

oh yeah the coin distribution is bad. but not as bad as most of coins.

Truthfully when we had hiro and brainstormed to change the supply from 1000:1 or 100:1 ratio. it was my understanding that it can not be done without messing the previous tx history. So if the main goal here is to reduce supply, than thats an automatic swap to a brand new chain. cant really be done on hard fork. unless some one can find a better dev? soopy , hiro and MRC, three devs said i cant be a hard fork.

Therefore keeping the same supply and drastically dropping new blocks rewards will def make the top rich list gods of this coin. Very tricky situation.

Hence why no one really did anything with this coins. I talked to many people through out the time and it just doest seam feasible and i couldn't find anyone up to help change the codes. you either stick with the same setting and improve things that wont effect previous txs like we did going from scrypt to x11. changing block difficulty, etc.

or do a swap to something new. but then you gotta worry for how to do it fairly.

Tough position.

The coin isn't going anywhere.. I'm sure someone will step up eventually.

I am hands off because I really don't have much investment in the coin anymore and I am working on other projects.
I do however, like the concept and the community, that's why I came back to see whats happening. Funny how the same old arguments tend to repeat themselves. lol

Well said, and agreed.

By the way, I believe the Ethereum Karma can be mined in the wallet on a standard computer. Someone should be able to open up the wallet and click on the mining function to receive 'free' Karma. I'll have to double-check this, math-wise to see if it's feasible.

But the real question today is who is going to join the team for the new X11 wallet....

It would be ironic if I had to lead both teams because no one stepped forward. That would be kind of embarrassing for some of us that are complaining.

It's flawed in that those addresses in the top 1000 will control more than 90% of the coins forever because of the rapid block halving (given the community interaction I am guessing those addresses are owned by less than 100 people), few people being able to buy them and even fewer giving them away to increase the network.

This coin was designed to expand (and die) much faster than bitcoin. That was a very bad idea because it meant that the Karma community would have to face all of the technical issue of miners drying up long before BTC ever would.


As for who should have control of the OP.. I really can't comment. its not my place to say since I too left a long time ago.

I will say this however. I agree with the policy of remaining neutral on the issue of Side chains, ICOs and Coin swaps.
Its really not the place of community leaders to tell people how they can and can't use their coins, all we can do is highlight the risks.

For years I warned about keeping too many coins on exchanges but few people listened. I was actually in the process of removing all my coins from crapsty right before it went down.. All I could do was laugh at my own slow reaction times lol...

Final thoughts: This thread should be for Karm as it is. If anyone goes down the path of creating an entirely new currency/asset then that should go on another thread. If we are going to fork the existing blockchain then we should discuss that here. In any case I will support any initiative that involves greater community engagement by getting people involved with the coin at the lowest possible entry point (I still believe that it should include being able to mine the coins at home without the need for fancy hardware or wads of cash).

Just my 2c.

Sounds good.

Do you want to join the team for the new X11 wallet?

This is why I am here...


That, and I saw that the ball was dropped regarding the Cryptsy wallet, above that post. If I just "waltzed in here" how did I see that post before anyone else here? And why didn't someone do something about it? That's the important question. Lack of action, lack of concern, lack of leadership.

Again.. 6 pages worth of posts for all of 2016. January, February, March, April, and May of 2017? ONE PAGE.

Don't be upset if someone is trying to make Karma great again And we can learn a lot from those who attempt the impossible, such as Trump. We were the first coin to come back from the dead. The first coin to incorporate. The first coin to have a telephone number on our homepage. We also pioneered an early version of the ICO (in our IPOCOs and karmashares, both of which I invented and likely influenced what you see today). Sometimes we need vision.

But you really don't need to respond with more snark. Just let us know if you'd like to lead the X11 effort

I have an idea. Let's stop bickering and become more productive.

We can start right now. Who will lead the effort for the new X11 wallet?

typical snarky kosmost. you cant just say a sentence without sneaking something provocative. god that's such an ugly trait. we already have a trump here. i come to crypto space to escape that. haha

you left. you quited. you disappeared. Now your back. i gotta make sure people want you back.

Safeguarding?

How are those coins coming along then?

You still haven't provided the address. Why do you want to keep information that is already on the blockchain secret?

Why wouldn't you want to contribute? Why not join the team for the new X11 wallet?