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 ..
Maybe proof of burn would be accepted this time??
Should we look into it?
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 ..
i dont think you are going to see any kind of big hike in price due to karmashares news until people get to see what potential profit is available from this scheme..
also on a side note people are wondering why the price isnt going up, for that to happen there needs to be a demand for karma the only reason people would buy karma right now is to put in to shares or to save to one side knowing/hoping in future they will be worth more..
we have fallen off a lot of radars, i was surprised to see we are not on one of the popular multi switching pools, i asked the question before if being on a pool that only mined us when profitable would be a good or bad thing?
and one last note, while it became hard for me to mine karma due to asics while karma was scrypt i looked for other places to point my card(i have my karma saved to one side) and while doing so i watched a lot of scam coin launch and eventually turn in to a scam which got me thinking are people losing faith in alt coins which might explain why there is such a lack of interest.
we the karma community (most of us) know this is not a scam coin hence why we are still here and still holding coins but i think our biggest hurdle is advertising karma and proving it is not a scam coin, which bring me back to the point about karmashares, i think people will see how well the share scheme is paying out and want to buy karma and join in
)
