Topic: [ANN][KARM] Karma / ₭ / X11 - page 360. (Read 583278 times)

But even when you embrace ASICs, you are constantly buying more.

Today you swap from your GPU to 20 MH/s to get some coins
Next month you have to ditch the 20 MH/s to get 150 MH/s
The next month you ditch the 150 MH/s to get 450 MH/s

The cycle never ends and you are constantly having to invest in faster hardware just to keep earning the same coins you did in the past. At some point you're spending more on hardware purchases than you're getting back.

Retwetted    The whole world sees my back hairs !

not bad... I could see a Rally Driving team wearing that one or a gamer team....

retweet this.

https://twitter.com/yurimir12/status/467590870909612032

most people who do mining have GPUs... when more Scrypt ASICS flood the market then they would have to either sell their GPUs or move to other coins.. that's why they are afraid.
my own personal opinion is that mining is a mugs game.. you will always be running from ASIC until you embrace them because as each new type of PoW system becomes popular the ASIC design companies are already working on chip designs for them so its only a matter of time before ASICs come out for any algorithm.


I have 3 gpu mining rigs and I doubt I will get my ROI on them because virtually no GPU mineable coins are profitable at the moment and the electricity costs are astronomical.

If we can really find in July a 8MH/S asic card for $350, why the hell we would be afraid of asics?
I will buy two of these as soon as they are available.

It is just the next eco-friendly step for miners.

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....

Fellow Karmanians there is a POLL going on, make your voice heard.

http://karmashare.me/index.php?do=/poll/21/should-karmashares-llc-be-the-first-crypto-corp-to-offer-3rd-party-support-/

This is about the suggestion of dogeyo_to_tokyo in our subreddit http://www.reddit.com/r/Karmashares/comments/25zv9r/out_of_the_blue_paypal_rep_might_have_gave_some/.


Let us sort this out and if profitable, let us grab this.

That ~8 block a day figure for 2 MH/s is only in the case the pool has average luck.

Its good to have more miners so that the probability of bad luck is much lower.

at 2mh/s you're finding ~8 blocks a day with the current 350MH/s global hash rate. that is one block every three hours.

i'd help you out with my 1mh/s rig but it's rented out on a mining rig rental site.

once it clear i am considering splitting my hashes between some of the pools (not my own, it now has around 10-15MH/s, so it doesn't really need any help, we're finding block pretty consistently (once every 30 minutes or so).

Here's a thought.  It would be nice to be able to add the Karma Coin Logo to the message icon, as a way to let people know how you feel about their good deeds "Good Karma Coming Your Way".  Is this possible to do and it would expose many people to our Coin Icon.

Just a thought!

I just had the idea yesterday.

It is difficult to attract miners to a new pool, and I need a couple of high hashrate miners to find blocks at a steady rate in my pool, which is good for both high and low hash power miners (more frequent payouts).

Right now we only have 2 miners at the pool with a total of around 2 MH/s mining Karma.
If we had 100 MH/s mining Karma payouts would be VERY frequent

At the moment a block is found.

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.

The ammount I have recieved with the multipool is less than the ammount I would have recieved Solo Mining according to the 'finder' lol found 13 blocks and recieved 1.12 Million in pool payouts >.<

I have no idea how I have missed that. Yes ofcourse, you should use stratum+tcp.

it IS a very good pool and I have mined there myself.

Only problem is that it accounts for >51% of the global hash-rate. We should really try to branch out on multiple pools so we don't have >51% on ANY pool. And NO I don't mean you should then use my pool implementation but use ANY other pool but those that are close to or over 51%.

The reason why people don't do it is because they will fear diminished returns from mining on a 3MH/s pool compared to a 250MH/s pool. All pools should on (sometimes long) average pay out the exact same amount of karm/mhs.

A 3MH/s pool should return about 10 blocks a day (if we say that the current network is ~420MH/s) aka 1.1 mio karma

so about 340k karma/day for 1Mh/s regardless of which pool you use. if you are on multi-pool.eu you should consider moving for the well being of the network.

I see instruction, no stratum+tcp://, do I need to put that in ? Thanks

http://karm.multi-pool.eu

Simply the best pool imo.
Mostly over 200 workers , so its very effective.

Back on Track after some stratum Probs now.

nice Karma wallet