[ANN][KARM] Karma / ₭ / X11 - page 181.

Bierworst

full member

Activity: 140

Merit: 100

Quote from: bitwho on August 31, 2014, 11:53:32 AM

hmm we have to wait and see what the deal was. hope no account got hacked. if they did i expect some one to start posting soon...

also it can not be inside trading because only Komost knows the news. no one else.

Thanks for being so quick to call us scammers. You got us. our whole purpose was to have a coin rise from ashes to high satoshis only to come back down to 1 and sometimes later cash out at 1! makes sense! Grin

Well bitwho, i did my very best to give an explanation that this would be the dumbest thing devs would do because of the low amount of money, meaning you devs could not have scammed us.

Take care

Bierworst

full member

Activity: 140

Merit: 100

Quote from: kosmost on August 31, 2014, 11:46:57 AM

Quote from: Bierworst on August 31, 2014, 10:43:40 AM

Is it possible to get a message from one of the devs on here proving us, all the karmashares coins are safe and that the devs also dont know what caused this?
Thank you in advance

Yes, the Karmashares coins are safe (as always)

I don't think anyone has any accurate explanation for market activity.

Thank you kosmost, we are awaiting the good or bad (no news) tomorrow:) i hope you are well!

bitwho

legendary

Activity: 1274

Merit: 1000

hmm we have to wait and see what the deal was. hope no account got hacked. if they did i expect some one to start posting soon...

also it can not be inside trading because only Komost knows the news. no one else.

Thanks for being so quick to call us scammers. You got us. our whole purpose was to have a coin rise from ashes to high satoshis only to come back down to 1 and sometimes later cash out at 1! makes sense! Grin

kosmost

hero member

Activity: 1022

Merit: 501

Creator of the ICO

Quote from: Bierworst on August 31, 2014, 10:43:40 AM

Is it possible to get a message from one of the devs on here proving us, all the karmashares coins are safe and that the devs also dont know what caused this?
Thank you in advance

Yes, the Karmashares coins are safe (as always)

I don't think anyone has any accurate explanation for market activity.

mitache365

hero member

Activity: 732

Merit: 500

One whale out. good!

huige007

sr. member

Activity: 889

Merit: 253

14 cheap cheap. Angry

Alphi

hero member

Activity: 798

Merit: 1000

Quote from: socoban on August 31, 2014, 11:32:52 AM

Quote from: Alphi on August 31, 2014, 11:26:59 AM

Quote from: socoban on August 31, 2014, 11:18:38 AM

It is not a fraud, to anounce there will be anouncement:) So dumping hard on big buy walls is not fraud, since nothing was promised. They can still anounce there will be no sale nd they are fine:) But this doesn't seem likely. If that was the plan, there will be more pumping and more broader promotion on chats and forums. I hope it was just manipulation + panic selling, or just a stolen account.

I'm not sure who you think "they" are but Karmashares members cannot dump the coins held in the Karma fund without all members voting on it.
members being the people who own Karmashares.

so yes if there was dumping happening from the Karmashares fund then it would be a fraud because it is in clear breach of the code of conduct.

as for the so called "devs" the original developer left a long time ago the only other "devs" are people who are hired to maintain the code and volunteers.

I believe they are not major Karma holders and I think they might even be paid in BTC for their work. But either way, since this coin was not premined all the Karma they own, they had to either work for or purchase so they (ie the devs) can do whatever they want with the coins they hold.

Of course I am not talking about donated KARM, it would be fraud. There were some people in the forum claiming they own 1 billion KARM since it was extra cheap. Those could do that easyly, if they know current status of lill deal.

yeah im not sure if I believe those guys.. i've seen a couple of them too.
I don't know if they do or don't hold a billion Karma.. but I do know that they aren't Karma devs because I don't recall seeing any of their names on any of the karma websites.

also it seems a little odd to me that someone would claim to hold 1 billion... why not 1.1 or 1.2, maybe they are just too lazy to count their coins or maybe they are just full of it.. who knows.

socoban

sr. member

Activity: 314

Merit: 250

Quote from: Alphi on August 31, 2014, 11:26:59 AM

Quote from: socoban on August 31, 2014, 11:18:38 AM

It is not a fraud, to anounce there will be anouncement:) So dumping hard on big buy walls is not fraud, since nothing was promised. They can still anounce there will be no sale nd they are fine:) But this doesn't seem likely. If that was the plan, there will be more pumping and more broader promotion on chats and forums. I hope it was just manipulation + panic selling, or just a stolen account.

I'm not sure who you think "they" are but Karmashares members cannot dump the coins held in the Karma fund without all members voting on it.
members being the people who own Karmashares.

so yes if there was dumping happening from the Karmashares fund then it would be a fraud because it is in clear breach of the code of conduct.

as for the so called "devs" the original developer left a long time ago the only other "devs" are people who are hired to maintain the code and volunteers.

I believe they are not major Karma holders and I think they might even be paid in BTC for their work. But either way, since this coin was not premined all the Karma they own, they had to either work for or purchase so they (ie the devs) can do whatever they want with the coins they hold.

Of course I am not talking about donated KARM, it would be fraud. There were some people in the forum claiming they own 1 billion KARM since it was extra cheap. Those could do that easyly, if they know current status of lill deal.

Alphi

hero member

Activity: 798

Merit: 1000

Quote from: Bierworst on August 31, 2014, 11:24:01 AM

If this was a theft, i feel very very sorry for the owner but keeping THIS amount of coins on an exchange? Then you probably dont have a brain

coins don't have to be stolen from an exchange they can just as easily be stolen from a pool or a wallet on a PC.
back in the early days of Bitcoin there were trojans that would steal wallet.dat files from people computers.
those who did not properly secure their coins by at least encrypting their wallet file would wake up one morning and find all their coins gone.

socoban

sr. member

Activity: 314

Merit: 250

Quote from: Alphi on August 31, 2014, 11:14:06 AM

Quote from: socoban on August 31, 2014, 11:10:26 AM

Quote from: Bierworst on August 31, 2014, 10:28:39 AM

Nah that would be stupid, because they would have first anounced a sale and then sold because selling 500 million coins on 10% of the price they 'could' be tomorrow is dumb and our devs are smart hehe

There is another option, if they anounce sale and it will not happen, it is scam and fraud. If they dump 1 day before anoncement and than anonce it was not sold, they did not any fraud. It was just our fault we thought deal was signed. The difference is, first is crime with big profit, second is not crime with small profit:)

if you are going to commit a fraud like that then it would be better to announce your fake sale and keep selling small amounts of coins while the price is high so nobody notices.

crashing the price is not the MO of a fraudster that controls a large amount of coins.

it is however the MO of a thief who needs to get rid of stolen coins quickly.
or a market manipulator who wants to cause panic.

I think it were 2 dumpers. First one dumped 500 million coins. It could be some multipool which mined on X11 algo since the switch to X11. KARM is lowering mining reward to 20000 KARM/Block in less than 1 day. So it will not be profitable to be mined at this price. They could decide to dump all KARM and switch to another coin. Than someone other could panic 4 minutes later and create sell order. It could even happen he planed to create big sell order at 140 litoshi and accidently sold at 14. It happened to me in past multiple times. I sold and bought accidently few times 10x cheaper/expensive some coins, but it was always small amount on low volume coins.

Alphi

hero member

Activity: 798

Merit: 1000

Quote from: socoban on August 31, 2014, 11:18:38 AM

It is not a fraud, to anounce there will be anouncement:) So dumping hard on big buy walls is not fraud, since nothing was promised. They can still anounce there will be no sale nd they are fine:) But this doesn't seem likely. If that was the plan, there will be more pumping and more broader promotion on chats and forums. I hope it was just manipulation + panic selling, or just a stolen account.

I'm not sure who you think "they" are but Karmashares members cannot dump the coins held in the Karma fund without all members voting on it.
members being the people who own Karmashares.

so yes if there was dumping happening from the Karmashares fund then it would be a fraud because it is in clear breach of the code of conduct.

as for the so called "devs" the original developer left a long time ago the only other "devs" are people who are hired to maintain the code and volunteers.

I believe they are not major Karma holders and I think they might even be paid in BTC for their work. But either way, since this coin was not premined all the Karma they own, they had to either work for or purchase so they (ie the devs) can do whatever they want with the coins they hold.

Bierworst

full member

Activity: 140

Merit: 100

If this was a theft, i feel very very sorry for the owner but keeping THIS amount of coins on an exchange? Then you probably dont have a brain

socoban

sr. member

Activity: 314

Merit: 250

Quote from: Alphi on August 31, 2014, 11:14:06 AM

Quote from: socoban on August 31, 2014, 11:10:26 AM

Quote from: Bierworst on August 31, 2014, 10:28:39 AM

Nah that would be stupid, because they would have first anounced a sale and then sold because selling 500 million coins on 10% of the price they 'could' be tomorrow is dumb and our devs are smart hehe

There is another option, if they anounce sale and it will not happen, it is scam and fraud. If they dump 1 day before anoncement and than anonce it was not sold, they did not any fraud. It was just our fault we thought deal was signed. The difference is, first is crime with big profit, second is not crime with small profit:)

if you are going to commit a fraud like that then it would be better to announce your fake sale and keep selling small amounts of coins while the price is high so nobody notices.

crashing the price is not the MO of a fraudster.

it is however the MO of a thief who needs to get rid of stolen coins quickly.
or a market manipulator who wants to cause panic.

It is not a fraud, to anounce there will be anouncement:) So dumping hard on big buy walls is not fraud, since nothing was promised. They can still anounce there will be no sale and they are fine:) But this doesn't seem likely. If that was the plan, there would be more pumping and more broader promotion on chats and forums. I hope it was just manipulation + panic selling, or just a stolen account.

Alphi

hero member

Activity: 798

Merit: 1000

Quote from: socoban on August 31, 2014, 11:10:26 AM

Quote from: Bierworst on August 31, 2014, 10:28:39 AM

Nah that would be stupid, because they would have first anounced a sale and then sold because selling 500 million coins on 10% of the price they 'could' be tomorrow is dumb and our devs are smart hehe

There is another option, if they anounce sale and it will not happen, it is scam and fraud. If they dump 1 day before anoncement and than anonce it was not sold, they did not any fraud. It was just our fault we thought deal was signed. The difference is, first is crime with big profit, second is not crime with small profit:)

if you are going to commit a fraud like that then it would be better to announce your fake sale and keep selling small amounts of coins while the price is high so nobody notices.

crashing the price is not the MO of a fraudster that controls a large amount of coins.

it is however the MO of a thief who needs to get rid of stolen coins quickly.
or a market manipulator who wants to cause panic.

socoban

sr. member

Activity: 314

Merit: 250

Quote from: Bierworst on August 31, 2014, 10:28:39 AM

Nah that would be stupid, because they would have first anounced a sale and then sold because selling 500 million coins on 10% of the price they 'could' be tomorrow is dumb and our devs are smart hehe

There is another option, if they anounce sale and it will not happen, it is scam and fraud. If they dump 1 day before anoncement and than anonce it was not sold, they did not any fraud. It was just our fault we thought deal was signed. The difference is, first is crime with big profit, second is not crime with small profit:)

Alphi

hero member

Activity: 798

Merit: 1000

Quote from: toeshe on August 31, 2014, 10:47:55 AM

if they had half a brain then they would wait one more day.. so it obviously isn't a long time Karma holder.

you got inside info?

the news is most likely just more of the same bar talk .price should tank

I do not have any inside information as I am not a member of Karmashares.

however I have been watching this coin since almost day one.

the price never went up and held up on the news of the lil buyout offer so there is no reason to think that it will tank and stay depressed if the offer is not accepted.

of course there will be some panic selling if there is no deal but it will only be temporary.

what I am more worried about is that someone may have had their coins stolen.. and if this is the case it will be bad press for Karma.

socoban

sr. member

Activity: 314

Merit: 250

Quote from: Bierworst on August 31, 2014, 10:52:21 AM

I did a bit of math, and considering 500 million karma is sold at an average price of 80 litoshi, the person would have received 400 ltc. This is about 2000$ or in other words, nothing. Assuming they bought the past days between 80 and 150 they have spent 4000$. Now breaking this panic could easily give them 1 to 2 billion karma below 100 litoshi if we follow the downtrend and the panic. Meaning that if there is news tomorrow, the 2000$ they lost on this sell action is nothing compared with what they can possibly earn.

Its a suggestion Wink

Yup, this seems like classique manipulation. I noticed there were multiple big buy orders and big sell orders whole day appearing and disabling. None was filled It coul be, someone sold his KARM in second dump to himself. I did that already in the past myself to increase the price by volume:)

Bierworst

full member

Activity: 140

Merit: 100

Quote from: socoban on August 31, 2014, 10:49:51 AM

Quote from: Bierworst on August 31, 2014, 10:35:04 AM

Quote from: socoban on August 31, 2014, 10:29:26 AM

I feel scam here. If there is no sell anounced tomorrow, this will be 100% sign of inssider trading and dump. Pump on fake news and huge dump to 14 litoshi. Only early adopters had such KARM volume and all the news and gradation about lill.com seems like fake when we consider this dump.

Well not exactly socoban because a friend of mine is an early adopter just like me and he has 370 million karm, so devs would have way more karm than that. So 500 million is what i believe one big karma holder in money trouble selling at EXACTLY the same time.

But now comes the weird part. Someone holding this amount of karma, would follow the news of the community, meaning they would atleast wait till tomorrow would they?

286576626.14189037 sold at 14 litoshi
200000000.00000000 sold at 20 litoshi
40000000.00000000 sold at 24 litoshi
6368575.26256070 sold at 65 litoshi
24145735 sold at 85 litoshi

this was on mintpal at 15:11 PM

Before there was dump to 100 litoshi both on mintpal and cryptsy at the same second at 15:08. First dump dumped coins on all 3 KARM markets, on Cryptsy, and both mintpal. Second dump was dump 4 minutes later. Question is, if that second dump was panic selling for peanuts, or the same guy selling and leaving the sinking boat. First sale to 100 litoshi could be multipool. Second one was definitelly miner dumping cheap. Either panic guy or someone with insider info leaving sinking boat.

Doesn't matter now, we will see Kosmost news tomorrow, than I will find out if I was naive and scamed again, or it was just panic selling. More than 1% of all karm was dumped today, for very few BTC. I don't belive someone set up KarmaShares for scamming for very few BTC.

As i calculated, it is about 2000$. You can earm 2000$ dollars working 1 month in a supermarket as a 23 year old. So it would be the stupidest move ever

Chargin

full member

Activity: 184

Merit: 100

It doesn't make sense, it's almost 1.5 billion Karma. The most logical explanation is somebody just hacked into an account (or more likely brute forced or guessed a password) that used the same password for both Mintpal and Cryptsy and dumped for whatever they can get because they didn't think they'd be able to hold onto the Karma. If the block explorer is working correctly the Karmashares funds haven't been touched. I can't see any transactions on the block explorer recently however I didn't look too hard because I can't easily identify volumes only number of transactions.

Selling your Karma now wouldn't be smart.

Chargin.

Bierworst

full member

Activity: 140

Merit: 100

I did a bit of math, and considering 500 million karma is sold at an average price of 80 litoshi, the person would have received 400 ltc. This is about 2000$ or in other words, nothing. Assuming they bought the past days between 80 and 150 they have spent 4000$. Now breaking this panic could easily give them 1 to 2 billion karma below 100 litoshi if we follow the downtrend and the panic. Meaning that if there is news tomorrow, the 2000$ they lost on this sell action is nothing compared with what they can possibly earn.

Its a suggestion Wink

Topic: [ANN][KARM] Karma / ₭ / X11 - page 181. (Read 583120 times)