Topic: [ANN][KARM] Karma / ₭ / X11 - page 301. (Read 583121 times)

i meant to say 500 satoshis.. sorry

0.00000500 btc/ 1 karma  


this is the minimum goal we are trying to push. clearly future reference.

as we can see from dogecoin. a coin will a good community and x2 more coin then us  is safely stable at 50 satoshis.

so i expect karma to easy be at minimum 50 satoshis by the end of the year.

What you mean " in 100s satoshis" ?

guys. let us focus on our POW for now.


i suggested before to move all our miners to p2p pool. it doesnt mater how long it will take. we should start educating them to only mine in p2p pool.

three weeks ago we had a net hashrate of 500 mh/s. karma .multicoin-pool.eu  had the %51 net hashrate with 300 mh/s.

clearly we have moved to higher ground and karma-multi-pool.eu is a small timer.

Therefore we should think in future past. if we raise in 100s satoshis we will have over 50 gh/s of network! So we need to think ahead. everytime we rise in price. outside miners come to check out thread and find the highest pool

this is why if we keep promoting p2p pools eventually we will start seeing more miners in there. soon our p2p pool will be the biggest pool. This will attract even more miners to jump on board. we all know they biggest pool finds the most blocks and miners only care about short time rewards so they all hug the biggest pool.

Well in p2p pool it will never matter who big it will get as the pool itself does not find the blocks but individuals do! this way we can promote the pool endlessly!

I have asked altcoingood to set up  a donation address where we will donate karma. this is the cheapest and safest way to solve any future %51 attack

look at all the communites. they are scrambling to get their miners to a p2p pool. We are a young community and we will become the leading role to other communities.

Thanks hehe, Chargin emailed me about something and congratulating me about being a moderator, awhile before, I saw the scores where only me and Jason is listed, and I know all workgroups have only one moderator, so when I replied to Chargin I told him/her I did not win, to my suprise a couple of pages later i saw this, we were listed as moderator and assistant moderator hehe, so from election to sitting PR/Marketing has something unique.

Thanks again, more power to the Team, the community and Karma!

Yes, I am just saying you don't need to buy a lot of hash power to perform the attack. at 3Gh/s you only need 122Mh/s. At 1.3Gh/s it drops to 53Mh/s.

I am not really sure. You can read about it here: https://bitcointalksearch.org/topic/regarding-auroracoin-tw-exploit-fix-included-552895

You only need enough nodes to confirm the transaction with enough confidence to fool the exchange, correct?

You all deserve more, than just become a formal lead of this bunch of us and take more responsibilities. But history remember only heroes. So, congrats guys. You are all great.
GO KARMA!

We will bring something new on the table soon.

You don't need 51% to do a successful attack on KGW.

Congratulations to the new Karmashares team.

We're excited to finally get started on making Karma great!

Our first Board meeting will be held within the next few days. More info here

Congratulations to our new Marketing & PR workgroup!

Lead moderator: jasondecosta
Assistant Moderator: easteagle13

Announcement http://karmashares.com/forums/index.php/topic,327.0.html

A double-spend attack appears to have been stopped in its tracks by the good folks at MintPal. At this time there is not much else to say, other than the team and I have been actively discussing how to make Karma even more secure.

We are always looking to spread the hash with the mining community as a matter of network health. The announcement today was good reason to remind us. It may have caused a bit of dumping, yes, but more than likely a whale-type took advantage of the "news" and made the market panic a little, to their advantage (which happens a bit too often in crypto).

There is nothing else to be concerned with at this time. However, we should be making an announcement regarding an improved algorithm for Karma shortly.

Our coin is healthy, our market is heatlhy. We are still on a path to BTC pairing, and still on track with everything else.

The more our community helps us get there, the better

I have made a thread about who should be able to post announcements here:
http://karmashares.com/forums/index.php/topic,326.0.html

I have also made a thread about making sure announcements etc are posted everywhere here (just in case you missed it  ):
http://karmashares.com/forums/index.php/topic,310.0.html

The Karma moderators are listed here:
http://karmashares.com/forums/index.php/topic,297.0.html

First Moderator: Kosmost
Operations: ShawnLeary
Finance & Accounting: chargin
Marketing & PR: jasondecosta (Lead Moderator); easteagle13 (Assistant Moderator)
Charities & Causes: KarmaKaguy
Community: pdogg147
HR: gueyyya

FYI Kosmost made this thread here about spreading the hash rate pointing to AGcrypto's Reddit post:
http://karmashares.com/forums/index.php/topic,324.0.html

Chargin.

In the words of the great Encyclopedia Galactica: DON'T PANIC

Did the "possible 51% attack" originate form a regular mining pool? I somehow doubt that. Prematurely blaming regular pools is IMO a bad move and definitely not good Karma. Isn't it much more likely that the attack was coming from an external actor, rather than the existing Karma mining community? What if it is related to the 1.5+ GH/s Nethash that were unaccounted for last week? Was it even an attack on the regular network or rather aimed at Mintpal directly? I'd like to see some facts before we rush to conclusions and point fingers.

If it was indeed a 51% attack, it is pretty much the scenario I and others were warning about in April. Because of the new ASICs several GH/s of mining power are suddenly at the whim of a few select people. Moving our existing hashrate to P2Pools doesn't protect from that. P2Pool is a tiny piece in the puzzle of securing the network at best.

Another piece would be if the community and/or LLC joined the game and secured the network by aquiring additional mining power, either through renting rigs or purchasing ASICs. This was already suggested as an idea on the Karmashares forums IIRC.

In the interest of not getting this whole mining/algo/PoS discussion started again, I'll just shut up now. The team will work it out, I trust them to do whatever is best for Karma.

“good people do not need laws to tell them to act responsibly, while bad people will find a way around the laws”
― Plato

Where there is value, there will be persons attempting to maximize their take, even potentially leading to outright fraud.  Mintpal had some issues, they took corrective action by upping their confirmations to 200.  Cryptsy did not have any problems and confirmations required is still at 3.  This action taken by mintpal was done on their own, Kosmost was notified via email concerning the situation.
 
Personally, I do not believe this was an intentional attack as bitwho hypothesized as a possible scenario a few post back.  To spend the money/power/resources to earn a few extra million Karma doesn't add up, IMHO. A double spend attack is essentially sending blocks they wrongfully mined on their own fork to an exchange.  They use their own blockchain to confirm with the exchange that the Karms are good.  Then eventually the real fork takes over and those blocks that were sent to the exchange become orphaned and are worthless.  This is a known issue with the PoW system.  Its not perfect but still is the best one out there ATM.

This could have been unintentional as the pools jump from coin to coin quickly.
This could have been to create a slow down at Mintpal and help another exchange.
This could have been part of a master plot to bring down Karma.
This could have been done to spend millions of Karma and gain LTC.

All of these are possible motivations.  A large pool will want to return to Karma at some point and keep mining to make money, devaluing Karma doesn't make sense.  We are one of the most profitable, if not THE most profitable, coins to mine right now and have been for sometime.  Could this be a sinister supporter of Cryptsy trying to move business their way?  Doubt it, but possible.  Is this just a weak attempt to discredit Karma in general?  Perhaps, but not going to work.  Maybe it was someone trying to make a quick buck and exploiting a known vulnerability of PoW.  

As we move up the coinmarketcap.com list, I expect we will see more of this.  This is still the Wild West and there are people with vested interests competing with our baby.  We need to keep all of our options open, potentially doing an algo tweak toward merged mining or other security fixes.  

As the wise Norwegian Venture Capitalist, Olav Bergheim, said, "There are no bumps in the road, this is the road."

I would like to hear what Kosmost and Shaun have to say on the matter. So far there has been no official word from either of them about this here.

The announcement of this 'maybe/may not be' attack caused a significant dumping of coins while it was trending up again. That is not acceptable. The threat should have been proven beyond reasonable doubt before making a public announcement (on both here and reddit I see) and it should have been accompanied by proof for all to verify.

By all accounts it would appear that the threat had already abated before the members posted their announcement - all the more reason to privately inform Kosmost of the concern and let him handle it.

There are ways of dealing with things like this professionally, and although I'm sure the members who posted had no ill intention - it was not professional.

Lol I like that. It isn't correct though.

I disagree with people that say miners can't get Karma under pure PoS. Most PoS coins have systems in place so people can mine other coins and automatically have them converted into Karma.

PoS is better however I can't see any evidence of a sustained attack on http://www.coinwarz.com/network-hashrate-charts/karma-network-hashrate-chart. But that only appears to poll every hour so it isn't the best guide.

No one is talking about value, price, projects, etc. It is a matter of security. This is my 6-th post about that. Let`s discuss how security can be achieved. Actually I am not sure that we can make miners to go and dig in p2p.

for the life of this coin there has been constant argument about ASICs and PoW vs PoS.

to put things into perspective with a simple analogy.

* GPU miners are workers with shovels and picks.
* ASIC miners are workers with mining machinery.
* PoS advocates are the land owners.

if you own a shovel and pick you will say "my way is the best"
if you own some machinery you will say "my way is the best"
if you own the land you will say "my way is the best"

I just find is a amusing that this endless debate is happening across almost every coin that is struggling to keep its value.  
I can just imagine people back in the 1800s gold fields having the same arguments

I agree with you about PoS losing users... just look at MINT as a good example of a PoS coin that is not competing very well against other PoS coins.

another thing people do not realize about ASICs.. is that they can only mine one type of coin. unlike GPUs which are free to move on to the latest PoW algo... X11, X13 and so and so on until X200

this has a number of positive benefits as well as down sides.

Negatives:

* if someone gets their hands on a very powerful ASIC rig then they have a small window of opportunity to temporarily take control of mining for one the smaller coins (ie direct 51% attack)
* centralization of mining power. (less of a problem for coins that have fast block halving)
* people with GPUs are essentially locked out of mining.

Pros:

* cheaper more power efficient entry into mining. (eg a gridseed is about the same price as a midrange GPU and and uses 1/10th the electricity)
* the risk of being raided or attacked by multipools is greatly reduced. (eg because you cannot use Scrypt ASICS to raid X11 coins, and you cannot use Sha256 ASICs to raid Scrypt coin)
* people who buy ASICs are forced to keep on mining that kind of coin to get a ROI they cannot simply "switch" to another algo coin when they feel like chasing that pot of gold.
   (this means that when ASICs become mainstream Scrypt coins are only competing for hash against other Scrypt coins and not against every other coin. i.e. Less competition is always a positive)
* the risk of being attacked or raided by a botnets is also greatly reduced.


I agree that the jury is still well and truly out as to how ASICs will affect Scrypt coins in the long run.
people cannot point to Litecoin and say that its current low price is a sure sign that Scrypt has failed or that ASICs are a bad thing.

A temporary drop in price is exactly what one would expect to see when cheaper produced coins (via ASICS) suddenly begin to flood the market.. this is what happened with Bitcoin right before its value exploded.

ASICs are infrastructure for a Crypto Coin network just like routers are infrastructure for the internet and roads are infrastructure for a transit system.
people don't go out and spend vast amounts of real money on infrastructure unless they are in it for the long haul and believe there is significant growth potential in the future.