Topic: [ANN][KARM] Karma / ₭ / X11 - page 359. (Read 583121 times)

I don't think we are in danger of being hammered and dumped because in order to sell coins you have to have buyers and most of the buyers are holding on to their coins so the coins are not recycled. If anything these asics will just make it easier for people to buy coins and bring the diff up making it harder to mine them. In the end the coin will not be hurt, it will be the small miner that will truly feel the pain.  Even then all they have to do is mine a different coin or algo with higher mining rewards and then just covert them to LTC and then buy Karma increasing the daily volume, at the same time taking the coins out of the hands of dumpers and holding them in their wallet for the shares benefit. And if all ells fails just buy a asic and mine karma. As long as you are not a dumper you will be making it harder for dumpers to profit. Once the value goes up high enough and the volume levels steady out, more coins will be held within our ecosystem and less will be dumped in big chunks.

Saw a news piece on Scrypt Asics today - 8MH/s for $350 on a single pci express card pulling 40 watts coming as soon as July. If we put aside POS from the discussion we should at least talk about switching to a more Asic resistant alg - It might buy us a year but its better than getting hammered and dumped to hell.

Using your card is cost effective for Scrypt, but not that much for x11.

Please put lill.com in your signatures.

Ah, so it's a card-based profit. I run a 7950 which is around 250w (based on what others said) and is 1.3 MH/s...

x11 is rewarding if you have a NVIDIA 750 Ti.
There has been reports of 2~3 MH/s, while consuming less that 40 watts...
Also the card costs less than 140 euros.

Just entered 3 votes...will stick with it every so few hours like I did last month. Join me and it will be #1. We are far closer this time guys.

Both of these types are far less than profitable right now. Scrypt is the only coin I can mine with a GPU and make back electric costs, and that is about to be a no-go as well. X11/-N are both less rewarding.

Retwetted    The whole world sees my back hairs !

Vote for karma, already 3rd place https://comkort.com/vote#KARM   

p.s.   "If you are a registered user, you can cast your vote up to 3 times/hour."

you can still do that with Scrypt-N and X11 coins...

but I agree.. when you're not making much money, its not fun at all...

just like real life miners..... some lucky bastards find a nugget... while everyone else is digging around in the dirt all day long looking for specs of dust  lol..

but hey.. at least I do have the best gaming rig in town and will do for quite some time lolz.

Vote for karma, already 3rd place https://comkort.com/vote#KARM

The problem I have with this proposal is (if I understand it correctly) you want Karmashares LLC to back any Karma transaction involving paypal that doesn't work out...

in other words asking Karmashares to act as an insurer to guarantee transactions that do not involve Karmashares or its shareholders.
I don't see how that could be profitable unless they charge a hefty transaction fee pretty much the same way that credit card companies do.

I think in order to do this Karmashares would have to register as an MSB in 52 states (in the USA alone) which could cost millions of dollars.


if this is what your proposing then I have 3 problems with it.

1) it rewards the stupid... at the expense of the needy. money gets diverted away from "Doing good" projects to fund essentially transactions where people have not been acting responsibly and doing their own due diligence before transacting with each other.


2) it goes against the very core ethos of all crypto currencies.. and that is the user maintaining control and responsibility over their own money. The minute you introduce buyer and seller protections such as charge backs and escrow... you become no different from the Fiat system that already exists. Escrow is a good idea but it should not be controlled by a central authority (there are ways you can do this on the blockchain itself with multisig and time delayed transactions) but charge backs are just plain wrong. Why should a seller have to refund the money of the buyer claims he was ripped off without offering any proof? (this is how charge backs work atm)

3) Karmashares already has too many coins.. more than 10% of the entire supply. If they control too many (50%+ maybe even less than that) coins and all the coins get stolen then its game over for Karma. there are no second changes and no rising form the ashes.

the credit card system we have today was invented in the 1950s and it is broken.. please lets not replicate it....

True... maybe my problem is more because I don't want to keep playing the cat-and-mouse game for the next 30 years just to even take part. When BTC first started everyone was invited. Now it's a "buy new hardware every couple months or you're screwed" game.

that's the efficiency of the market .. nobody can control that.. people will always find a cheaper way of doing things so they can make more profit for a time until the next guy comes along.

are you old enough to remember a time before GPUs?

back then yeah the CPU could do all that 3D math and you could run 3D games like wolfenstein and Doom without any need for special extra hardware.
but then someone figured out a better way to do it and the GPU was born...

sure we could have been just fine with Doom, Descent and Wolfenstein level graphics...
but wow look how far we have come with GPUs... Near cinema quality HD graphics that we used to see only in movies right there on our computer screens.......

how far we have come in the last 20 years is amazing..

we are only year 5 of the bitcoin revolution... just imagine how amazing the world will be in 15 years?

after all GPUs are just Graphics ASICs.

its progress my dear watson.. and nobody can stop it...

Not really, as each generation of ASICs goes mainstream the prices go down drastically.
So getting 200 GH/s sha256 mining power is MUCH cheaper than 200 GH/s was 6 months ago.

I get where you're coming from, but think about it like this. If ASICs were never created and 7950's were the fastest hashing hardware, it would be cheaper and would still provide the same benefit. ASICs are cheaper than GPUs by far. It's getting (over time) to where the fastest hashing hardware is cheaper than what we use today, which is why constant upgrades are needed (and ends up adding on its own hardware costs over time). If we had no ASICs, people would be buying 7950's, yes, but it would be more of a linear progression instead of this massive spike.