Topic: [ANN][KARM] Karma / ₭ / X11 - page 345. (Read 583121 times)

I really like the way you think! Really. This is something that we can discuss. Many miners really don`t look for the most profitable coin at the moment, but the highest network hash rate. So, if we expand dramatically our hash rate, I am sure that a lot of miners with GPU and ASICS will come.

I offer two AMD R9 290 Tri X (Sapphire) for the 400 million Karma.

We need to make more noise about karmaworldcup.org.
Maybe make reference to eat in other coin foruns (including bitcoin).

It is an excelent idea and has an excelent website.
We should be getting 1 billion Karma total before June 12th.

Just try to sell more than 400M fastly right now, you will see that this offer is not insulting for someone who wants to sell very fast.

KarmaShares could also invest in ASICs and pay out the earnings to owners of the shares. It could be another business that the LLC runs. We'd have to make sure it's done in a profitable manner, though, so as to not bleed out money.

That offer is insulting and you know it.

I send you 2x R9 280x for 400 000 000 Karma 

i am sold 84 000 000 i sell small group
are you happy ?? you can buy cheap

if there is a significant threat to the network, the Karma Shares fund can also do this by either temporarily Hiring mining power or buying scrypt asics. they secure the network thus preserving the value of the coins held in the fund, and also get more coins from the mining.. so its win win...

Before Nautilus coin had its Stabilization fund and long before Maxcoin has its day with a stabilization fund. Karma already had a fund and there is no reason why it cant be used to actively stabilize the network and coin prices provided the shareholders want it.. and i'm sure they would if there was a significant enough threat.

who put this nice 113 buy wall on 48? 

I think AGCrypto is already on this east.  Good suggestions. 

I would like to bring up an idea which can address both issues of 1. Karma Network Security 2. Karma Value

This is time sensitive meaning this can be efficiently done at a particular point of Karma life.

When Karma reach a certain market price threshold say, 10 satoshis, which would mean that everyone with sizeable investment into this coin woud have multiplied their money by about ten times, since up until now it is about 1 satoshi per karma (even lower).

Those same Karma holders should be encouraged to set up a mining rig specifically for KARMA. Decide how big or how little your rig maybe, the important thing is you share in giving Karma more hash and spread that hash power among several pools. You can even solo mine it's all up to the miner.

In the advent of ASICs, this proposal will be very much feasible, a lot of mining configurations will be available at a much cheaper price.

This is also a win win situation, we make our network more secure, while we earn extra karma daily no matter how small or big that amount be. No need to tinker with the algo and there will also be more source of Karma funding if ever we decide to use those hash power for a certain good cause in the future.

The above so far is for personal level.

We can take that a notch up. We can decide that since Karma is now 10times in value. Karmashares LLC can now set up a mining rig for itself, the address can be that of Karmashares LLC karma address. Then the same advantages quoted above will be gained. This time in a bigger scale.

What about we inventing our own proof system with Karma concept incorporated in to it or something like that...Something first of it's kind like BTC.... I know it's impossible at this stage of our coin, just saying... 

In their tweet they used the old tweeter account. should we contact them to make sure they will use the right one and also are pointed at the OP here? 

 

my thoughts on some of these convos:

One of the reason Bitcoin is supreme is because the POW. Not only is POW a strong future for bitcoin but it open doors to all the other cryptocoins. Lite coin was formed because miners were being cheated out by botnet and investors who could afford bigger asic. After litecoin,   the other coins came because Litecoin difficulty skyrocket.

The reason why mining is important is because all you have to do is buy a mining rig and mine coins. This is the safest way for people. Not everyone will send documents and wait a month for exchanges to prove them into their systems. Not a lot of people even know where to go to buy coins. But Mining POW there are 1000 tutorials and withing few days you are mining away. with in two days you are making some tiny bitcoins/litecoin. Then through mining, they learn the trading game and then become buyers.

One of the strongest case is that there will always be tons of people trying to mine bitcoin for years, hence there will always be demand. POW algo beat the other algo coin in 2011 and become the bitcoin that it is today. Only because people were able to mine it. Even now people invest thousands of money into mining material.

So think hard before you slam POW.


And now to POS.

At first i was rooting for POS. But that was when we were thinking about cutting down the total cap size of 92 billion coins. After some back and forth conversation between members and team members (specially KOS) my opinion was changed and i know i understand that staying loyal to the old code is the key. Because not only is POW the answer to our success, but also the ability where people can come in now and mine some decent chunks of coins. And it will stay this way. Other coins that shared our total cap levels in billions , fear this feature and have moved to cut it down so they can stop the bleeding. they might have seen a small bump in price but eventually they will fall. Opposite to them is our coins. Our coin had/has difficulty now but then it will be the opposite and it will rise. Because, not only can people jump into our ship easily via mining(POW), but our block rewards will be good enough that all of them will get a nice payday. How finds it appealing to mien all day for 0.01 of that coin. The answer to staying alive long enough for us to BUILD PART D is in the miners. It is in the ability for anyone to jump right into our coin. no security checks, no shipping out ids, no worry about shady btc trader in the real world. Simple point your miners and you are in. We can see that all the coins that are already mined out , slowly but surely are crashing down. The moment they loose the miners they also loose the buyers. as most of the buyers are miners themselves.

So POS? First things first. We would be POW and POS. Not only POS. therefore we would have to have double buy support for the all the new coins mined and new coins staked. moving on, Since we have agreed that 92 billion coins is the answer,

What percentage can POS be?

 If we give POS at %10-30 our coin will be dead. We have too many coins and such a high % will just be too hard to raise in price since it will be a constant POW and POS new coins released. We would have to have double of POW buying volume. Ideally this would be good with the previous point that people will have it much easier to get the coins since it will be so many of them and the prices would be low enough that anyone can owns some with some small $$ buy.  But it would take 20-30 years before we reach this buying support . but we most likely will be dead as a coin and never reach optimum level.

More a reasonable POS percentage would be %2-3 yearly. This is low enough that the new stake coins will not create alot of sell stress and it would be easy supported by by volume. But then we need to step outside the box and look  at the box and try to imagine how it will behave.  Let say 1 year from now you were a good karmanian and held to your coins and are a bag holder of 200mill coins. at %2 , in the end of next year you will receive a sum total of 4 million more coins. This would be awesome for you. because hopefully by them karma has some sweet price of 3000 satoshis [ ] and you just made an extra 120 btc. great! but what if we are an average holder of 1,200,000 Karma. by the end of the year you stake 24,000 extra coins. Now imagine holders on the lower class then average holders.

When these class of average or lower coin holders stake , it will not be a huge chump and depending on the stake maturity settings the POS code will have, it would come in small , very non impressive , tiny fraction of coins a day/week. That will look demoralizing and it will not encourage any one of the average class or lower to open their wallets to stake are they should. This could create a very serious network instability and could cause %51 attack on POS network. Because only the big bag holder will be inclined to make sure their wallet is opened every day to stake. Since POS purpose is to have wallets to stay open so the network can stay stronger , this future paths would created a lot of forks and possible multiple double spending. Not to scare you will %51 attacks or double spending. even if this never happens, what probably might happen is that all the average and lower class will start selling their coins and moving on to a coin that will give them a better distribution.

trust me. i am staking a few coins and there is nothing exciting than to see a + 0.03 coin staked after waiting coins maturity. not to mention all this low stakes will bloat the block chain.

My point about POS?
Well, i want to put some people at rest that adding such feature will only create a small hype but it will not be the "feature" that will get this coin to 100 satoshis. most of the hype will ride for about 7 days and then it will come back down to the current floor + 1-2 numbers higher. I want to also remind you again that adding POS will not be removing POW and POW will still be the strongest feature of our coin. Therefore, is POS an additional feature that we need right now? Why? How do you think it will help the coin become stronger. Do you agree that adding POS we would have one more "algo" to worry about its network security. Do you understand that even if we have a stable POS we would still have to worry about POW security from ASICs. Is %2-3 POS stake a year really worth adding one more network that we have to worry about %51 or double spending?


I feel like people are asking for us to go POS , not because they have really thought it out and have come to conclusion that it will bring new security to our coin , but because they have seen from other coins that adding POS has increased the coins price.

As i said before. if we were to cut the coins total POW at 50 billion and then do the other 32 billion in POS only , i would have voted for POS. and DID! however, since we keeping POW continuously for year to work until we reach our cap, then POS will have to be very, very low in percentage, making it kinda pointless to add compared with all the new risk and effort to main it.


well , my 0.2 karma about POW and POS!


The real solution in our coins lies in adaptation, not the code. We already have a beautiful scrypt algo code. it moves one coin from one side of the world to the other. We don't we stop looking at the code and expecting it to make us millionaires and create systems that the code can be used for.

lets re-focus the momentum back into our goals. lets continue to create that awesome and very strong network that the karma team is working hard to build. A network with many , many members who come together and help those in need. I still can't wait until we are so big in numbers that each member will only be asked to donate $0.10 to fulfill the necessary quotas. One click away. only ten cents. cryprocurrency allows us to send this amount to go fully to the address with no middle man becoming rich with fee! Lets not miss this great opportunity by focusing on how to hype and dump.

Cryptowho.

Over the next few days we will elect our management and Board of Directors. You can help to lead Karmashares to success!

Per this post regarding the organizational structure of Karmashares, we're pleased to announce the formation of the following workgroups:

• Operations
• Technology
• Marketing & PR
• Charities & Causes
• Community

Think you could help lead a workgroup? Post to the workgroup about how you think you can and defail your plans, ideas, etc. Some background may also help.

Each workgroup leader will also serve as a member on the Board of Directors for Karmashares.

The Chairperson of the Board is also to be voted on here.

You can find the workgroups here

Good luck! Voting will start next week.

its all good

It was learnminer. Apologies.

https://bitcointalksearch.org/topic/m.6435617

who me? if anything my position has changed from being fundamentally against PoS to accepting that it does have some merit. In any case, I still don't see PoS as the solution to the biggest issues facing Karma.. I sure would like to see a post where I've been pushing for a change to PoS on any coin thread...