Topic: [ANN][KARM] Karma / ₭ / X11 - page 304. (Read 583278 times)

Can't agree more ! The litecoin seems go to dying ,it's just a foil of bitcoin .A lots of amounts of litecoin is in Chinese investors hands ,but it's deficient of this coin development .Go to BTC markets , will make karma coin exposure more without question

No. I believe the reason the price is bleeding so much is because we are pegged against Litecoin - Like it or not it's a dying and antiquated piece of tech. At just 0.0164 BTC per Litecoin and dropping every week (was 0.0253 at the end of April) it represents a seriously bad investment for the long term - no one wants to hold it or any coin that is solely pegged against it.

People like Karmacoin - we know this - but they do NOT like that they must purchase Litecoin before buying it. Even if you held the price of Karma the same at say 200 Litoshi the actual value of each coin in bitcoin has dropped 54% since Late April.

When the block thirding occurs I would like to see a huge push by the devs and the community - using every bit of good news about Karma that we have, every feature that we have - to reach out further than ever before into the crypto world - tweeting, FB, reddit, articles, press release - anything and everything we can - and have it all synchronised with a BTC pairing being activated on Mintpal - whatever needs to be done to synchronize such a push with Mintpal should be done.

We have a real chance with the upcoming thirding to push the coin out there on Mintpal. Folks, it will not reach 10 Satoshi equivalent in the Litecoin market - Its just wont happen. Not as long as Litecoin is a dying coin. Even with the Bitcoin drop Litecoin has fallen from 0.01714 to 0.0163 - we simply must get out of this sinking ship and allow the Bitcoin market to help us reach a true and fair price.

when you say they last couple of days it went to crap.. i saw in some of your earlier posts you thought the difficulty went down in the last few days, in fact the difficulty has gone up.. hence when you mine you get less coins to your hash rate.. we have all seen it and its only due to the coin regaining popularity, more people mine, hashrate goes up, difficulty goes up as a result

yep because you are soloing you are basically competing against the pools instead of working with them...

it would be like going to the Olympics and having to compete against titans like china and the us.. and your just some tiny little pacific island nation.. every once in a while you get a medal.. if you are lucky..  

the smaller you are the less predictable your earnings are... which is another reason why people don't like to go onto small pools.

" I see " said the blind man as he picked up his hammer and saw.

LOL... so if I hear you correctly.....difficulty trails the hashrate up or down  trying to keep a stable coin release of about a block a minute.
And really as a solo miner on this coin since May 1, I really only have my experience to draw on. Some days I would get a couple blocks one day I got 6.
It's truly been all over the map but averaged over 3 a day until the last 5 days then it went to crap.

Karma is by faaar the most traded coin on the ltc market on mintpal.... Going into the btc market with 2-3 sats is a huge risk imo. Cant we just shoot up here till 10sats or something?

difficulty is simply the difficulty of the mathematical problem that needs to be resolved so that someone can create a block.
how many other machines are looking for the same solution will dictate how likely you are to find a block along with a degree of luck.

the difficulty is constantly changing but it doesn't react instantly to the increase/and decrease of hashing power, it is always a few steps behind the network hash rate..

difficulty ajustment is a correction mechanism to regulate the flow of coins to keep it relatively constant over a 24 hour period.

it is not exponential.. if the hash rate rises too quickly then the difficulty will adjust to compensate after N blocks.
in other words.. the difficulty adjustment algorithm is trying to keep the block creation rate to 1 block per minute (in the case of Karma)

You cannot easily compare different coins hash rates and difficulty levels even if they are using the same PoW system because there are several different difficulty adjustment algorithms out there.

for example Litecoin uses the original adjustment mechanism from bitcoin.

Karma uses Kimotos Gravity well. (KGW) which is supposed to be much more reactive to quick influxes of hashing power.

http://bitcoin.stackexchange.com/questions/21730/how-does-the-kimoto-gravity-well-regulate-difficulty

there is another one called Digishield.
and another called Nites Gravity well.

they are all different formulas but they all basically calculate the next difficulty based on how quickly or slowly the previous blocks were created.

as to why things seems harder for you now when the difficulty is lower. I could only guess that there is an element of luck combined with an element of rapid influxes of hashing power due to the price going up and down like a yoyo.

I think you will find that if you keep looking at the difficulty it will probably adjust back to where you expect it to be(relative to the network hash rate) before too long, but there isn't a way to accurately predict how many coins you will get because the network hash rate is changing so rapidly.

for further reading.. here might be a more detailed explanation than mine.

https://forum.megacoin.co.nz/index.php?topic=893.0

Thanks for your reply Alphi.
I know that's the usual talking point of pools, except with my modest hashrate, I was getting more Karma per day soloing than I was in a pool.
And I tried several, both small and large.

Even last week when difficulty was high, I was still getting at least one sometimes two blocks a day.
Still more productive than pools (which I tried and rewards were about 50~70% of a block.

Now I'm wondering with difficulty way down why is it getting harder for my little 2x4 miner.

Oh and another question, is mining difficulty exponential?

you have a mathematically better chance of finding a block if you are in a pool even if you have the same hash rate. that is why pools were created.

a very simple analogy would be.. say you were reading a mystery novel for a class project.. it has 10 chapters ... you have been instructed to find out who dun it but you don't know which chapter in which it is revealed.

lets say you are in a class of 10 people to keep things simple.

there are two ways you could do this..

method A: you could just ask each person to flick through the book and try to find out who dun it..

method B: you could break up the work and assign 1 chapter to each class member.

in method A the majority of the class starts from the beginning of the book...  so no matter how many people are flicking through it .. it still would take some significant amount of time before someone found the right chapter..

in Method B.. you would know very quickly because each person has their own chapter so at least one member in the class has the right chapter and they will know as soon as they start reading.

pools use method B because it is more efficient at finding solutions.
the bigger the pool the more efficient it is.. hence why people tend to mine at the biggest pool...

the problem is that if one pool gets more than 51% of the hashing power then it becomes dangerous for the network security..
miners however generally don't care (especially if they are new to mining or planning to dump their coins straight away anyway) so they just go for the pool with the best chances.. usually the biggest one.

some people mine using Method A because they like the idea of finding a block and keeping all the coin reward to themselves. in the long run though it is mathematically proven to be less efficient and more like lotto.

hope that helps to clarify things without getting too technical...

Well, I'll check on the other coin and its coin per release.
In the meantime how is a pool get 72 blocks in 14.5 hours?
Of 870 blocks available in the 14.5 hour day so far, this pool has "found" 72 of them. An extraordinary 8.2% success rate.
Pure hash power, dumb luck or voodoo?

its all about how many blocks per day the network releases. We are 1 min/hr x 60 min/hr x 24 hr/day = 1440 block/day. So they difficulty re-adjusted to make sure that 1440 blocks will be found on average per day. there is all kind of difficulty re adjustment to make the time interval to calculate smaller or larger.

Other coin your comparing us probably have 30s second block findings therefore the difficulty is low because it will need to release twice as many coins per day.

We could look into implementing a better difficulty recalculation/re-target. But this will only help us get faster difficult re target after a huge hash rate leaves. Such thing can not prevent big hash rate from jumping in and mining us away. Only block rewards help us with this and lucky for us we're roughly a week away from a tremendous 1/3 block reward cut! that will minimal new coins being sold to us cheap!

I'm trying hard to understand something.
All that I search up doesn't really explain it in terms I can understand.

I see other coins with higher network hash rates and lower difficulty than Karma.

Karma's hash and difficulty has lowered its true, but blocks are still very scarce to come by.
I found more blocks solo mining with diff in the 30's.
Is this just the "luck of the draw" as far as blocks go or can a big pool or miner somehow "hog " the blocks out there?

Guess what I'm asking ....What really determines difficulty? How do other coins have higher network hash but lower difficulty?
Is it the actual number of miners?

Thanks for anyone with some insight into this.

this week will probably be 300 litoshi someone buys in price to 200 a few days, probably again be window prices up:)

Surely someone as sensible as that would realise that buying up to 200 on mintpal while cryptsy was still selling in the 140’s isn’t the best decision possible 

is this good? hashrate enough?

meh. pools stopped selling their coins. 1.5 gh/s is off the network. No more sellers lowering the bar. its was mater of hrs before it went back up to 150s

More likely someone who wants to invest his LTC somewhere it doesn't keep loosing value.

I'm guessing someone made a typo. It doesn’t make sense to buy so much on mintpal while leaving cryptsy untouched.

100 ltc buy on mint. A pump attempt?

I fully aggree with east. Please join us and pm any of us if you need any information!