Topic: [ANN][KARM] Karma / ₭ / X11 - page 197. (Read 583120 times)

People are confused and I don't blame them. The signals from Karmashares are sort of mixed right now. On the one hand news of a new offer is released, on the other hand you quickly see there's a tendency to reject the offer. There's talk of a vote, but no procedure to even handle it! The LLC was founded months ago, yet we still have no final structure, no way for members to vote, track their shares or anything. There's an unfortunate lack of progress on that front.

Add to that the lack of any proof the offer is real. We, the Karma community, might trust kosmost as we've witnessed his dedication for months, but why would anybody outside the core Karma community (which is maybe 30 people) trust his word? Markets are very uncertain right now. The huge amount of scams lately has brought trust and faith in crypto to a new all-time-low.

Also issues like being without a block explorer (even if just for a short amount of time) really show a lack of resources behind the coin currently. Which is weird, because the transition to X11 was executed extremely well. Yet being without an explorer is really a no-go for any alt that wants to be taken seriously. If you hand't jumped in socoban, would we even have a working explorer yet?

I don't want to attack the team at all, as they've done a marvelous job since taking over for the most part. As far as community takeovers go, this was an A+ grade job. But a coin cannot forever rely on anonymous and potentially volatile community contributions (like altcoingood's explorer that vanished overnight) for features that are essential. Especially not a coin that has such grand ambitions. Neither can a company that has, quite successfully, completed a round of crowdfunding (that's basically what Karmashares quantum periods were) expect community volunteers to build their future services for them.

Most of this could BTW be solved by accepting the offer. The funding it brings would allow the LLC to finally finish setting up and hire some full-time developers to build and provide a rock-solid array of basic services and essential infrastructure (like online wallets, Karma API for easy use in apps and websites, mobile and sms wallets). That would be the kind of setup from which a community can start getting creative and come up with its own original and creative ideas, to finally pursue bringing the Karma vision we've been discussing for so long to life. Right now we're stuck in limbo due to a distinct lack in resources. How can I even start building an innovative mobile app for Karma if I'd basically have to build my own version of blockchain.info first, in order to implement basic features? Just some food for thought...

Karma is not a PoS coin.

Does anyone know when PoS begins? Or do I just have to wait the WP?

Please check your e-mail. We were working through some issues with tech support for the server and had no access to our email. I am in the process of compiling the linux wallet and upgrading to the x11 fork. This is why your coins have not showed in your account. Once completed and the new wallet syncs with the x11 chain I have to process withdrawals and make sure everything is good. I have you txid and will ensure that your coins are posted to your account once the new wallet syncs.

UPDATE: New wallet compiled and is now syncing with the correct chain, I'll have things back up and going as normal shortly. In the meantime withdrawals are disabled on the site until everything is back to normal.

I was checking the price when Kosmost announced that offer. There were few hundreds of LTC placed on buy orders. Multiple buyers started to pump the price up to 200 litoshi on cryptsy. But buyer was playing with that buy wall, moving it and removing it. Than it disappeared. Clean sign, people do not know what to do. For sure they want to buy, but they want to buy as cheap as possible. Since KARM is mined heavily, like 50 mil KARM/day, there is lot of dumpers.  Block reward will be cut from 35000 to 20000 in 2 weeks. So if the news will not make immediate spike, people are waiting for cheaper KARM to buy in 2 weeks. But I am sure, one single buyer with 2000 LTC buy wall at 150 litoshi would force others to pump the price up heavily. Or at least scan of the offer document would help.

I started it again. Tonight I will have a look at the config file for automatic restart of insight... Kos, please pm me if something goes wrong with the explorer or if it is down for maintenance...

I doubt you would have any trouble building an all star team with 2.5 million dollars in the bank..

explorer.karmacoin.me is down. Apologies for the inconvenience.

...and 18 days to consider that most of us, team and community, should be focused more on coins that have real value (like Karma) and less on "shitcoins" 

just imagine what we could do if Karmashares had an active team and functioning structure?

There's a little more than 2 weeks for us to discuss this. No deals would be made without consulting with the owners of the LLC, and getting the requisite approval, of course.

Your post seems to assume that Karmashares will sell. However, we have not reached that point. Also, we also have no guidelines to help us determine how such things would be decided by the project manager of an iPOCO, its team members, and Karmashares members. Not to mention other things that are not in place.

I think it spread exactly as it should. It wasn't meant to pump anything, but notify the community. Now, if a deal is agreed upon and signed by the deadline that would certainly make news. Even moreso when shareholders get the payout for it.

The price is about what it should be, all things considered in the marketplace and industry. But it's likely also tremendously undervalued.

He did say in the announcement that if the deal was not accepted by August 31st it would become void.  So that gives us 18 days to find out if it goes through or not. 

I agree with you....
as I am not behind the deal I am unable to provide the answers you seek.

ok, so how long before we find out if the deal actually goes through?  Are we talking days, weeks, months?

I mean, reviewing a proposal, an offer shouldn't take more than a few days I would think - or let's say a week or two at the most.  That's my thinking but I'd like to hear the opinion of the actual people behind the deal.

Thanks!

this news does not affect Karma directly.. lill was designed and built by karmashares members and is owned by karmashares LLC.

right now it is all just words and opinions in a forum.
the general feeling i get from reading the thread discussions since it was first announced is that it wont go through.
this is why the issue needs to be put to a proper vote by karma shares investors.

if the deal went through and even a tiny portion of that money went in to stabilizing the karma price and building more projects in the interest of Kama then the price would rise significantly.

but none of that matters if nothing is signed or agreed by karma shares.

i think most are thinking it wont go thru

Guess the news didn't spread like it should...

I really can't believe the price didn't go wild on that $2.5 million deal.   Wat?  No other alt has that kind of thing in the works.  Very odd.

Were getting closer!

Can some one help Socoban get his answers?

Remember, the faster we get this working the better is for karma. As soon as API is in sync with the block explorer then anyone with little dev experience cans set up karma services via the API call.

anyone wanting to set up any kind of service will be able to do it easily.