Topic: [ANN][KARM] Karma / ₭ / X11 - page 288. (Read 583120 times)

here is what ASIC are doing to the community so far. they are too expensive for a little guy to get an ASIC strong enough to compete with current hashrate. Not to mention never even ROI. So unless you spend over $10,000s you will not make it. This creates a harsh centralization of miners. Only the big boys win the game and makes is less appealing for little guys.

Look at our pools. our miners were getting thinner. probably since scrypt was running too hot on summer. The moment Karma rises , all the asic users jump on our network. We go from 1.2 Gh/s to 3.4 Gh/s. Which makes the small time miners even more frustrated because of the high difficulty jump.

look at this way.  if i have $2000 i can set up a 2-3 Mh/s GPU miner or a 20 Mh/s Asic miner.  You can see the imbalance ASIC offer. Miners would invest in GPUS more because at least they can use it for games or sell it back with %50 gain. but with asic you have 1-2 months to make roi and then its worthless.

By going to X11 all the GPU miners will have few more months to mine the coin in fair game. By then  the ASICs will be much cheaper and they should be able to afford to switch to ASIC.

Also China mines love x11. they will jump in and will start to create additional trading market in their side of the world. Maybe we will finnally break in their exchanges. Like Bter.com and others : )

Woo great news! I'm interested to hear about the sidechain business ahah.

er, I meant Karma has a big daddy in Karmashares

It's official!

Karma is going X11 to help secure our network. This will help us make a smooth and secure transition to our BTC market.

http://karmashares.com/forums/index.php?topic=381.0

More news coming soon

Nice!  Long time Karma supporter here (just not vocally on the forums, but a little over on reddit).  I like the move to X11 from an energy efficiency viewpoint but it feels more like an anti-ASIC move.  ASIC's are far more energy efficient than GPU's or CPU's so a combo of the 2 will be best for a sustainable cryptocurrency future.  *disclaimer:  I own no ASIC hardware, just offering my opinion.

I also think the 2 year estimation for ASIC introduction to X11 is pretty far off.  Considering DarkCoin is trading in the $10-$13 USD range and the popularity of other X11 coins I would expect it to happen sooner.  Early next year if not the end of this year.  Again, just my non-expert prediction.

Either way, good news for now and looking forward to more mining.

 

Hi,

How long did you mine in p2p pool ? There are a lot of factors to take in account. I will try to explain. When you mine in two pools , pool A and Pool B, what you will make a day on average should be the same. the key word is on average. For example if day 1 you join pool A which mines with 100 Mhs and you mine 10mils coins in 24 hrs and on day 2 you join pool B which mines at 80 Mh/s and you saw you got 9 Mis coin for 24 hrs yo should scream faul. this can happen because Pool B has lesser hashrate and it probably needed some more time then 24 hrs to give you the same payout. this is basic statistics. But there is also luck. one day Pool A could find double the blocks and an other day no blocks at all. Same goes for pool B. but luck factor is moslty a %25 off. it could be %25 more one day and %25 off an other. Therefore if you mine on pool A for a longer time , let saw a week, you will mine the same coins in pool B at the end of the week.

Therefore since our p2p pool is still new and has less hashrate , you were suppose to make less coin than staying in the other pool. This is why we have donated coins and are paying a %20 bonus. So it will fill in the void and make you get as much coin as the other pools. So get the same amount of coin for now while helping out keep our system stable. Eventually when more and more people join the p2p pool , it will be the pool with more hash and it will start to find more coins per day. Then mining  at this pool will start to get you more coins

Is it just me?  When I see comments like this I picture somebody mining and immediately selling and converting to fiat.  Which does very little to further the progress of cryptocurrency as a whole.  But I guess plenty of the users of this forum could be doing that as many showed up simply for the "easy money".

More people need to understand this +1

Well said like a poem.

I know many miners personally and way more virtually. No one of them got anything more than a little on top of the electricity bill. And I am not talking only for small time operations like 2 rigs and 6 cards, but also for investments of hundreds of GPU`s and asics. When this coin was 8-11 litoshi price and almost a million could be mined for a day with a single GPU, my fellows continue to mine and dump shitcoins. I have tipped them with more than 100 mill almost with no effect and no one came on board. When 2000% increase was steady gained in a just 2 months all of them were asking me which is the best KARMA pool and so on. Meanwhile I was buying and mining KARMA. They didn`t learn anything from the bitcoin history. This game is simple - find the best coin and stick with it. So, ask yourself why are you mining. To pay the bill? Is this smart? Are you working for electricity company? If you expect to mine today and dump tomorrow, then brother I am telling you, that this is the wrong time and place for you. The altcoins boom from January-March is over. OVER. We all now see everyday coins just bump, go to a big exchange, dump and that is it. KARMA is for the long run. That was said many times, so read it carefully and try to understand it. Surely it was difficult for me to get it. KARMA was born on 4 February and I am still with it. And I will be with it for long time. If you want to be part of this exciting journey, don`t stop to mine. Do not think that if the price is 3,4,5, 50, 100 satoshi, it will be the same tomorrow. I am sure that you are and have been mining many coins. Look back at them and see what they had. Nothing. Now look at KARMA. Go to forums, Karmashares, try out http://www.lill.com/. Learn what has been done and what is in front of KARMA. See who is doing it and how this community is organized, etc, etc. Than try to find another coin with the same qualities. If you do, PM me, so I can get on board. I am big PITA and if a guy like me is with KARMA, believe me, you should be also. And your friends miners should come with us. This is huge. Do not just believe, see it for yourself.

next station... andromeda galaxy

When was the last time you experienced an instant price increase right after a halving? Karma has achieved massive growth in value over the past 2 months. It has gone from dead to most profitable scrypt coin before the reduction. Let us rest for a few more hours, then we can start gaining price again to make your coins worth the electricity they cost.

If you need instant LTC, I guess you'll have to mine elsewhere for a little while. If you can afford to hold your coins a while, stick with us. This good coin has achieved so much in so little time, and the journey has just started IMO...

cheer up!

I like karmacoin

This coin didn't take 'POS system' to pump or defend price

The pos system without pow is not secure..

If choice pos, then focus on making pos system more and more secure

but many coins just take pos system to confirm others.. not good..

plz karmacoin goes on it's own way

At this miserable price of 2-3 Satoshi, I can't pay my bill for electricity !
Who will be insane to mine at lose KARM anymore?

Answer below.

please refer to my post before this for solution.

wallet not syncing !