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Topic: [ANN][KARM] Karma / ₭ / X11 - page 204. (Read 583278 times)

sr. member
Activity: 532
Merit: 250
August 09, 2014, 12:01:57 PM
YES i did? not sure what you are referring to THE massive dump rumors or the part of looking at explorers for the last month.... we still waiting?

Dump?
Where?

If you know of someone dumping please tell me because I would like to buy at discount prices!
hero member
Activity: 658
Merit: 500
August 09, 2014, 11:26:49 AM
Excellent quality post!

But you are wrong about one thing.
The Karma team members do not own 50% of the coin.
I believe its not even close to that (maybe not even 10%... but I can not be sure of this).

I know some forum users that hold more than 1 billion coins and they are doing absolutely nothing to help the development of Karma.
Those are the ones, like you said, that should help by paying Karma to the ones that are doing the work, because they are the ones that are going to benefit more from the success of the Karma projects.

I know you mean well, but the fact is, no one has the right to tell anyone else how he/she should handle the coins they have no matter how much or how little. They can give them all away or they can keep every one of them. (We all hope though they will care enough to help out as a believer in Karma's core principle of doing good.)

But we actually have "budget" that is the reason of the coins exchanged for shares so that Karma/Karmashares can have developmental budget. We only have to decide as shareholders when to actually use it. By the looks of it, we should decide NOW. We need so many things to move our iPOCOs forward and to complete the technical necessities of Karma.
We need talented and devoted karma people. But they don't come free.

This is a quote from Karmashares LLC

"Karmashares LLC is the operating entity of Karma, the Bitcoin and Litecoin-like digital currency that is based on "doing good". It is currently forming in the state of Wyoming, USA, for purposes of creating long term value for holders of Karma by developing revenue-generating products and services."

full member
Activity: 219
Merit: 100
August 09, 2014, 11:02:50 AM
YES i did? not sure what you are referring to THE massive dump rumors or the part of looking at explorers for the last month.... we still waiting?
sr. member
Activity: 339
Merit: 266
Advancing Liberty Through Blockchain
August 09, 2014, 10:11:08 AM
I do not see it fit to release any news that may move markets without a way to track transactions

Thats not good news thats horrable

Sorry you feel that way.   Did you read the rest of the post?  That is not to say that developments that may move markets (whatever they may be) will never be announced, just after a functioning explorer is in place.  This is in the best interest of Karma and Karmashares LLC.
full member
Activity: 219
Merit: 100
August 09, 2014, 09:29:34 AM
I do not see it fit to release any news that may move markets without a way to track transactions

Thats not good news thats horrable
sr. member
Activity: 532
Merit: 250
August 09, 2014, 08:43:39 AM
Please write on the Karmashares forum thread relating to the game if you want to give any suggestions, or send me a PM here.

http://karmashares.com/forums/index.php?topic=223.msg795#msg795
hero member
Activity: 798
Merit: 1000
August 09, 2014, 08:14:14 AM
most of my friends tell me that KARM will be the next explosion.So i will study and buy

Do it.
But add "helping the community with my skills" to the equation Wink

that's right.. peoples time and support are more important than money.
sr. member
Activity: 532
Merit: 250
August 09, 2014, 07:44:36 AM
most of my friends tell me that KARM will be the next explosion.So i will study and buy

Do it.
But add "helping the community with my skills" to the equation Wink
full member
Activity: 136
Merit: 100
August 09, 2014, 03:32:12 AM
most of my friends tell me that KARM will be the next explosion.So i will study and buy
hero member
Activity: 798
Merit: 1000
August 09, 2014, 03:13:48 AM
New post:

"What Can We Learn from Dogecoin (continued)"
http://karmashares.com/forums/index.php?topic=550.msg3014#msg3014


the biggest problems doge coin had were:

1) the dropping hash rate which put their network security at risk
2) the negative press from various hacking and botnet scandals.

dogecoin has managed to somewhat resolve point 1 by adopting merge mining.
the price has not recovered because the market is extremely apprehensive at the moment.


I think karma has somewhat addressed issue 1 with the switch to X11. In all honesty it remains to be seen whether X11 or merge mining is the right way to go.

as for point 2.

I just noticed that someone jumped on to http://karma.p2pool.altcoin.dk/ with 800MH.. to put that into perspective that is the equivalent of roughly 80-100 fully loaded 4 card GPU rigs.
the average 3 bedroom house can only supply enough power to run 10-15 rigs at 500W each (this is how much power my fully loaded rig draws)

so there are only 3 possibilities for this mystery mega miner.

A) they are a large industrial scale miner operating out of a warehouse with an abundance of super cheap or free power.
B) the Karma network has been targeted by a botnet or hackers that are redirecting mining packets as per http://www.coindesk.com/hackers-reroute-isp-traffic-steal-bitcoins/
C) someone has X11 ASICs.

given the sheer power requirements to run an operation that big and given that there is currently no press about X11 ASICs I am inclined to go with possibility B.


so in short.. what we can learn from dogecoin is that no coin is free from the possibility of scandal.
as for how we might deal with the issue of a potential botnet or hacking scandal... it might be worthwhile discussing it before it actually happens.. I mean it really could be a guy with a massive warehouse full of rigs.. or someone with a box of X11 asics but it if isn't then we should have some kind of action plan in place.

EDIT.. I should note that this is not necessarily a bad thing because it means that Karma has the attention of someone with a huge amount of mining power at their disposal. but I think we should also be mindful of that old adage "beware of Greeks bearing gifts"

hero member
Activity: 1022
Merit: 501
Creator of the ICO
August 09, 2014, 03:12:22 AM
Announcement:

Anonymous users can now post replies in the Karma & Karmashares forum

http://karmashares.com/forums/index.php/topic,551.0.html
sr. member
Activity: 425
Merit: 250
August 09, 2014, 03:08:55 AM
Ideas get us started, but we need more than ideas from the community.

I think to attract a larger community and new investors need to do the following:

1 Instantly create an entirely new GUI wallet with new features, one of them is the encryption wallet be done unless a password by Two-Factor Authentication! This will first and only book that opportunity. The idea is to protect the password from keylogger's and higher security.
Wallet should be colorful, but at the same time stylish and simple, not kitschy - Appearance sold. This can make a good graphic designer who will collect KARMA and will pay by donations from the community.
Another nice feature is the ability of the wallet to earn message update is available. I think it still does, but I'm not sure.

2 In order to attract new investors should give them free coins !!! Not kidding! The new portfolio has to have money, right! The idea is that we give a new wallet, but when tradition gives portfolio has money in it. This will appeal to new investors and stocked them! All we want to donate money. Can we give about 1000, 5000 or even 10000 KARMA. The money will come from donations again!

Needs and advertising and distribution of news that KARMA has a new GUI wallet that gives a small amount KARMA! I think the idea will appeal to new investors, and they just come.

3 When taking a wallet with money, they will want to invest .... then you need to provide them with links to all articles about KARMA, this can be done through wallet again .... etc

What do you think?

I think this is a goog idea.

Thanks for your support friend!
Perhaps the idea is just like you and me and probably so bad that not even deserved attention and comments of the public and staff of KARMA.  Grin
This is not so important, but it is a way to attract more investors !!!
Go KARMA!
hero member
Activity: 1022
Merit: 501
Creator of the ICO
August 09, 2014, 02:55:41 AM
New post:

"What Can We Learn from Dogecoin (continued)"
http://karmashares.com/forums/index.php?topic=550.msg3014#msg3014
hero member
Activity: 798
Merit: 1000
August 08, 2014, 11:14:24 PM
Quote
Karmashares LLC is the operating entity of Karma, the Bitcoin and Litecoin-like digital currency that is based on "doing good".


So whatever happened to a decentralized digital currency?

nothing. the currency is decentralized.
full member
Activity: 184
Merit: 100
August 08, 2014, 11:13:42 PM
Quote
Karmashares LLC is the operating entity of Karma, the Bitcoin and Litecoin-like digital currency that is based on "doing good".


So whatever happened to a decentralized digital currency?

Karmashares LLC is not Karma nor is it in control of Karma. Karma is decentralised. Given the current size of Karma and Karmashares LLC it isn't practical to have two completely separate teams at the moment.

Chargin.
sr. member
Activity: 266
Merit: 250
August 08, 2014, 09:40:07 PM
Quote
Karmashares LLC is the operating entity of Karma, the Bitcoin and Litecoin-like digital currency that is based on "doing good".


So whatever happened to a decentralized digital currency?
hero member
Activity: 528
Merit: 500
We are the ones we've been waiting for
August 08, 2014, 09:37:32 PM
Im new to Karma - is it Hybrid POW/POS or POW only?
I read somewhere if I have some karma in my wallet I participate to Karmashares automatically is it true?
Or how do I participate to Karmashares? Thanks!

At this moment is POW x11. We are about to introduce a sidechain, KarmX.
You can participate in Karmashares by holding 5M Karmas in your wallet for more than 30 days or you can get a bonus *over karmashares points* if your send those 5M to the given address at the karma page.
Remember 5M is the minimum investment.
member
Activity: 79
Merit: 10
August 08, 2014, 09:20:13 PM

In the end, I think the cryptocurrency 'format' with the most user-friendly features (as opposed to the most technology advanced) will win. We see this time and time again in different industries, and ours is probably no different.

We have only to realize that we should begin surveying actual potential users to find out what they want in a digital currency, starting with those who might need it most.

There is a reason why alt coins are pump&dump or only dump. Doesn't matter how cool the coin is, how fast it is, how many coins it has, how anonymous it is, what matters is how many people use it. Bitcoin is old, slow, with asic miners. But it is the king of all the coins and will be for very long time. It is not because it was first, but because it has huge backbone of services. People in crypto are not common people, they think different and it is their main disadvantage. Real money is owned by common people. Rich people will not invest if they do not see profit by selling coins to common poeple.  

There is a reason why credit cards are used heavily even with huge fees. Merchants love to pay 3-5% fee, because they know 99% of western world people own credit cards. everyone want to sell rather 100 products with 5% fee than 1 product with 0% fee. I myself love to pay 30% fee to google play for in app purchases. They made payment process so easy, that conversion on google play is multiple times better than on the same product on web. I earn much more on same amount of people paying 30% fees, than paying 5% fees on web apps.

Similar it is with CASH. Why do people hold CASH in banks? There is almost no interst, but there are fees. For most of the people having money in bank is losing money. But having money in bank is comfortable and saver than having them at home. This is the problem of crypto, people are talking we need security, we need anonymity, we need sidechains, we need paper wallets, etc....  WRONG and again WRONG. We need CENTRALIZED trusted services. We need easy to use TRUSTED web services, where people can BUY/SELL/pay with their wallets like in PayPal.  Doesn't matter how fast is confirmation on coin, no coin can be as fast as credit card or PayPal.  This is the reason why BTC is the winner. Coinbase, Bitpay, blockchin.info made it easy to use for merchants and other web developers. They made it easy to use for common people.
Another problem are chargebacks, chargebacks are bad for merchants, but very important for customers. Merchants will not add crypto, if customers do not want it. Hence, there is no other way, than centralized trusted service on top of crypto to maintain chargebacks somehow internally on their virtual wallets.


So I think, do not lose time on tech staff, doesn't matter how cool you make the coin itself, it will not bring the value. It will just bring the story to be used to pump the price on cryptsy chat. And even if you implement something unique, 1 day later will some scammer clone your coin. He will have better pump team, more money for promotion and you will realize you did hard work and he earned your money.

I think we need to create working backbone of API's, libraries, trusted centralized services for easy to integrate payments. We need to give noobs option to play with KARM. Trust me, it is really hard to work with that, even if you have lot of coding exp.

There is no documentation about what are the differences between KARM and BTC. I lost hours studing KARM and BTC code to find out very basic staff. BTC is well documented, we just need documentation about the differences in constants, protocols, addresses and transaction creation. Noone will read KARMA code to implement wallet on his service. Forget that.

With having that documentation, we have to take BTC libraries one by one and clone them to KARM. There is no other way. If we clone them, than all the services using those libraries will implement KARM themself. We have to put those libraries on github, well document them and write tutorials for noobs.

We have to write tutorials and examples how to use them.

We need to create HTML+JS embedable codes with just copy&paste requiremnt, so various blogers, CMS frameworks can implement them easily.


Talking about community work. Karm has big disadvantage, or maybe advantage, that very few people own 50% of all KARM. It is around 500k USD, (in case of enough buying power). Those people are heavily invested and they have 2 options:
1) Ask others to help, which will not work, people do not work for free, especially when they know they are making rich someone else
2) Pay others for the help.  They can pay with KARM. Those very few people does not have enough time and power to make KARM no 1. alt coin, maybe not even no. 10.  It is simple math. If you own assets, worth pottencialy houndred of millions in future, but worth maybe only few BTC now(since there is not enought people to buy it) you should think about those assets as investment. If you do not invest now, you will not earn in future. It is much better to invest 50% and pay pro devs with KARM to make coin 10x valueable fast or you can just hope for pumps or miracles.

From my point of view, I will finish explorer, and maybe I will finish some web wallet. Than I will focus on my BTC projects, if they will work, I will port them to KARM(could never happen). So I am not willing to work on the KARM after. I do not have time for this. I will help somehow, but the devs are 50% owners of KARM, they should do the hard work(or pay for it) to make them wealthy.
 

Great post!

Imo, we should recognize that people spend most of their time playing with a smartphone. If we can integrate smartphone ecosystem into our Karma project, this would be great.
Also, for average Joe and "Jane", earning Karma should be easy and intuitive. If my wife can earn meaningful amount of Karma easily, she will donate, tip, and use it for many purposes.
sr. member
Activity: 350
Merit: 250
Muroko Blados
August 08, 2014, 07:46:49 PM
Im new to Karma - is it Hybrid POW/POS or POW only?
I read somewhere if I have some karma in my wallet I participate to Karmashares automatically is it true?
Or how do I participate to Karmashares? Thanks!
hero member
Activity: 1022
Merit: 501
Creator of the ICO
August 08, 2014, 07:05:11 PM
Announcements:

News regarding the Lill offer
http://karmashares.com/forums/index.php/topic,546.0.html

Karmashare.me to be shut down ~August 12
http://karmashares.com/forums/index.php/topic,547.0.html

All workgroups to be disbanded or moved. Members to decide on new structure
http://karmashares.com/forums/index.php?topic=548.msg3009#msg3009
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