Topic: [ANN][KARM] Karma / ₭ / X11 - page 221. (Read 583278 times)

Mining contest is going well. Now is time for the creative persons of our community to step up. Karma team members can also participate.
Today I am starting contest with a first place award of 2 000 000 (TWO MILLION) KARMA. No consolation awards. The rules are as follows:
1. At least 5 participants
2. Every participant can provide more than 1 photo. No limit about this.
3. Photos must contain KARMA logo and GOT KARMA? written or drawn by hand (Not printed). So only the GOT KARMA? must be written or drawn by a hand, which includes graphite drawing. I don`t care about the logo if it is printed or drawn by a hand, but it must be our original logo.
4. Photos can be for example selfie with a popular person and you wearing t-shirt with KARMA logo and GOT KARMA?, photo on the top of a skyscraper holding KARMA logo and GOT KARMA?, photo of somebody jumping with parachute holding KARMA logo and GOT KARMA?, nice graphite drawing of our logo and GOT KARMA? and all other things that crosses your mind.
5. The last day of this campaign is 1-st of September. No photos will be accepted on 2-nd of September. (exceptions for delayed photos only if I see on the photo Barack Obama or Queen Elizabeth  )
6. You can post your pictures here, forum, facebook and karmashare.me. You must pm me here with a link to the original post.
7. The winner will be chosen by community vote in our forum. Voting will continue 3 days, but I want at least 25 votes. If we don`t have 25 votes, we shall extend the voting period. If there is a tie between two or more photos and/or persons, I suggest our respectful Marketing & PR workgroup moderators easteagle13 and jasondecosta to choose the winning photo. If jasondecosta decide to participate, me and easteagle13 will have the last word.

These are the rules. Do not cheat! I will catch you. Believe me. Do not use any tools to make your photos look better. If I catch someone cheating, all of his/her photos will be disqualified. This is a real life contest. I am not encouraging you to do something dangerous or stupid, but to win this, it is obvious that you have to be a little crazy. So happy shooting.

GOT KARMA?

this is partly true, those KARM will hit market. KarmaShares own them and will sell them sooner or later. So they are not burned. Proof of Burn is awesome way how to make coin more valuable. Problem is, that is that it just sucks liquidity from the market. Since total coin market cap is still same, new investors will not be attracted anyway. Lowering total number of coins is much better.

i have 1 000 000 000 KARMA

Well, if by 'proof of burn' you mean to use that as a way to reduce coin count ??
I think we have nearly 9 billion KARM in the LLC currently  ..
It's the only 'funding' mechanism we have for the IPOCOs other
than kosmost spending his own money and KARM holder's periodic donations ..
@ 2-3 satoshi I grant that we don't have much of a development budget in $$$ terms ..
The thinking was that when the crypto community discovered KARM and the potential
value of the LLC that KARM would begin to rise in price to the point where the
'donated' shares would have sufficient 'value' to self-fund the IPOCOs ..
At least that's my interpretation of the KARM/Karmashares LLC game plan ..
Plans and reality have a tendency to diverge as we know ..

Triff ..

Correct me if i'm wrong about this ..

But I think that mechanism already exists in the current structure ..
You buy KARM and deposit them ( if you want ) to the Karmashares LLC deposit address ..
That gives you participation in  Karmashares  LLC the vehicle for all the IPO COs ..
The 'donated' KARM are effectively 'off the market' ..
Alternatively, one can buy KARM, keep them in your wallet and get credit for
Kamashares LLC at a lower ratio than you would get vs the 'deposit' method above ..
ie 5,000,000 KARM @ 1.75X ( donate ) vs 5,000,0000 KARM ( in wallet ) @ 1.00X ..

Just an FYI, but early Karmashares LLC adopters were offerd 5X and 10X participation deals  ..

Triff ..

Well, if by 'proof of burn' you mean to use that as a way to reduce coin count ??
I think we have nearly 9 billion KARM in the LLC currently  ..
It's the only 'funding' mechanism we have for the IPOCOs other
than kosmost spending his own money and KARM holder's periodic donations ..
@ 2-3 satoshi I grant that we don't have much of a development budget in $$$ terms ..
The thinking was that when the crypto community discovered KARM and the potential
value of the LLC that KARM would begin to rise in price to the point where the
'donated' shares would have sufficient 'value' to self-fund the IPOCOs ..
At least that's my interpretation of the KARM/Karmashares LLC game plan ..
Plans and reality have a tendency to diverge as we know ..

Triff ..

Maybe proof of burn would be accepted this time??

Should we look into it?

Lowering total number of coins is much better

I agree, but we tried that already ..

When we reintroduced the KARM/BTC trading pair it
became apparent that we were going to get stuck in
the 2-3-4 satoshi range  ( ie the minimum 'tick' in satoshi
represents a huge percentage return ) ..
Who wouldn't buy @ 2sat  and offer @ 3sat to make 50% returns ??
Kosmost saw the problem right away and suggested we reverse split the
coin to accomplish two things .. lower the total number of KARM to a
more reasonable level and get away from single digit satoshi pricing ..
The community was polled and it was decided not to pursue that change ..

Triff ..

Correct me if i'm wrong about this ..

But I think that mechanism already exists in the current structure ..
You buy KARM and deposit them ( if you want ) to the Karmashares LLC deposit address ..
That gives you participation in  Karmashares  LLC the vehicle for all the IPO COs ..
The 'donated' KARM are effectively 'off the market' ..
Alternatively, one can buy KARM, keep them in your wallet and get credit for
Kamashares LLC at a lower ratio than you would get vs the 'deposit' method above ..
ie 5,000,000 KARM @ 1.75X ( donate ) vs 5,000,0000 KARM ( in wallet ) @ 1.00X ..

Just an FYI, but early Karmashares LLC adopters were offerd 5X and 10X participation deals  ..

Triff ..

new x11 algo,lol

ok whats proof of burn?

ok whats proof of burn?

ok whats proof of burn?

ok whats proof of burn?

proof of burn would reduce the problem of too many coins in circulation.
so I am all for it.

I was thinking about the sidechain for a while now...
It would be interesting to list Karmashares IPOCOS in some kind of system similar to Nxt or Bts.
Maybe proof of burn with a limited time frame will do the trick!
Or merge mining, crediting the already owners of karma with a fixed amount.