I keep hearing about POS, and while I think it may be a good idea there are still other things that can be done that would immediately raise the value of Karma in the exchanges.
One of such things is the most basic one: mining!
I see a lot of people involved in this thread and in the Reddit sub-forums, and I ask myself how many of those are mining something else instead of Karma.
If you really believe in Karma (I do!) then you should be sure that the value will go up a lot in future, and therefore mining will turn out to be VERY profitable.
Also, in short term, the more people are mining the coin, the more difficult it gets for each miner to get the coins (that is who the difficulty algorithm works in Karma).
Therefore miners will not dump the coins for cheap in the exchanges, making the value of Karma raise a lot.
Having a higher net hash rate (right now it is really low) also makes a coin more visible to potential miners.
Join me in:
pool.terahashers.com
No need to register, just do (with cgminer or minerd):
stratum+tcp://pool.terahashers.com:5003 -u -p
My pool has a lot of nice features like VARDIFF (makes the most of your mining hardware), and uses a dedicated server maintained by me (you can send me a PM if you have any problems).
Like I already told, the website is still under construction (works fine under Chrome but not very well with Firefox), but the pool is tested an working perfect (payment processing included!).
One of such things is the most basic one: mining!
I see a lot of people involved in this thread and in the Reddit sub-forums, and I ask myself how many of those are mining something else instead of Karma.
If you really believe in Karma (I do!) then you should be sure that the value will go up a lot in future, and therefore mining will turn out to be VERY profitable.
Also, in short term, the more people are mining the coin, the more difficult it gets for each miner to get the coins (that is who the difficulty algorithm works in Karma).
Therefore miners will not dump the coins for cheap in the exchanges, making the value of Karma raise a lot.
Having a higher net hash rate (right now it is really low) also makes a coin more visible to potential miners.
Join me in:
pool.terahashers.com
No need to register, just do (with cgminer or minerd):
stratum+tcp://pool.terahashers.com:5003 -u
My pool has a lot of nice features like VARDIFF (makes the most of your mining hardware), and uses a dedicated server maintained by me (you can send me a PM if you have any problems).
Like I already told, the website is still under construction (works fine under Chrome but not very well with Firefox), but the pool is tested an working perfect (payment processing included!).
An idea for mining may help, too.
I'm assuming you're able to see what hashing power someone brings to your site, and for how long they've been mining?
How about a "Hash for Shares" program whereby we give miners a piece of the pie for providing hashing power?
we could say that for every 7 days you mine you'll get X shares multiplied by your hashrate.
(I could fund this from the 1,084,289 shares that I own)
Any idea how this could work?
I do not see any technical reason why I would not be able to do this.
The question is, would such a pool have a high demand with miners?
Wouldn't most of the people that want shares just mine Karma in a traditional pool and then buy Karmashares by themselves?
Why not get a bonus on top of that? Like 3,000 shares per week for every 1 Mh/s of hashing power? Then if they want to keep their coins, they can. Or exchange then and get a few more thousand shares?
. I NEED A FRIEND!