Topic: [ANN][KARM] Karma / ₭ / X11 - page 382. (Read 583123 times)

Yeah it is crazy. Didn't see that one coming...
I am happy for those who supported PND while it was at the very bottom though. They deserve their days in the sportlight and profits. Don't think it'll have any effect on us though.

Call me naive, but when I heard an announcement was coming I expected a commitment. "We will go to PoS, but only if coin value is below X". Er what? You either go PoS or not. This is more confusing than before! You can't seriously propose doing the work of building a new PoS wallet - just to discard it all if the value of the coin misses a certain window? This doesn't make sense...

Listen, I don't care about gaining a few litoshi should the coin stagnate further, this is a decision about the fundamental future of the technology behind Karma. I know you're mostly focusing on building value and services around the coin - which I think is AWESOME - but that doesn't mean the coin itself is unimportant.

As I have explained several times, I am not in favour of a switch to PoS, I am in favour of securing the Karma network. PoS is only one option and my least favourite. I'd prefer an algo switch (GPU miners love the cooler temps that X11 or Groestl offer), or merged mining with a bigger scrypt coin.

I believe one of these steps is neccessary though, because I am certain upcoming scrypt ASICs will be a serious threat to many smaller coins. I have explained before why. I will just remind you all how badly KARM was abused by multipools in the early weeks. Every trick in the book and flaw in the code was used to make those with high hashing-power more profit. Soon a SINGLE piece of hardware can deliver more hashing power than the entire Karma network currently has.

This cannot be compared to the bitcoin ASIC-times. Back then every ASIC was added to the same - already large - network. Now there are hundreds of scrypt coins - go and check http://mapofcoins.com/ you will be blown away. A small numbers of powerfull ASICs will ship in the next months and will be split up over those hundreds of networks. The possibilities for manipulation and attacks are there and if altcoin history has proven one thing, it is that such possibilities will be exploited. I might be wrong, I sure hope I am.

Believe me, I'd much rather talk about upcoming initiatives or new ideas. But I think this topic needs to be resolved one way or the other. If you say "we disagree and don't think ASICs will be a problem" I will accept that. If you say no to PoS, I accept that. But please make up your mind(s). Thanks for reading.

PND hit 195 Litoshi - This is crazy. I suppose the good news is we will probably be the next one to go up given there will be many people who bought PND at 35 Litoshi selling for a 600% return - we are the best place for them to invest that LTC.

I Just installed the latest wallet on a fresh Windows 8.1 Update 1 Install. It works perfectly without changing anything if you make sure you unzipped it to the location you wish to keep it before launching it, and then allow it through the firewall, tick both boxes on the popup. Leave it for a few minutes and you will see it start to sync.

First one gave me
00:27:36

Method not found (code -32601)


Second method worked for me:

Hi Alexpsy I will try to help you out please follow the steps below:
shutdown your wallet first
go here: https://www.dropbox.com/sh/ebjrqthy206rlaq/U70ksPbIep
download file named "peers.dat"
click "start" button
choose "run" (or press windows button+"r") When the "run" subwindow is shown;
type in %AppData%
A sub window explorer should pop * look for folder named "karma" * open that folder and copy the "peers.dat"
now re-open your wallet.

You should make this sticky.

TY

If you mean the little guy can't mine BTC anymore as what "fucked up bitcoin," then I agree.  Otherwise I entirely disagree that it's centrally controlled because of it.  So yes, I do think it is normal what is happening.  There is immense value in Bitcoin, I personally believe each coin will be worth $2-3M in 15 years.  

We can debate fiat controls with the federal reserve banks vs big money betting on bitcoin for another time.  The fact they are betting on bitcoin legitimizes it even more, and we all benefit from this as being ahead of the curve and an early adopter.  

They are taking immense risk to invest in a data center that has the best cooling and best ASICs money can buy.  Call me crazy, but isn't this what we are trying to do with crypto currency, take the workload and control away from the governments.  If you can convince some venture capital to support your move to Iceland and somehow get a cozy deal with the ASIC manufactures, then go for it.  It's a free market, something I totally support.  Having a few people involved on a website to vote to move this entire platform to an unproven PoS seems WAY more centrally controlled to me.

And as far as any calculator and "no investment in ASIC can be returned" please read this article from just last August from a regular LiteCoin miner that went BIG.  http://reckoner.com.au/2013/08/im-done-mining-litecoin/

After reading this, tell me you don't want to keep mining a PoW coin like Karma?  There are only going to be 94M LiteCoin, there will be room for others like us.  The guy in the article sold all his mining equipment for a loss and was bummed that LTC price was only $2.45.  He was calling it a failed mission and was happy to break even.   Of course just a few months later, LTC hit $45 US.  

I am sold on going PoS if the price was constantly below 10Litoshi, but I don't see that happening with what we have planned

Again, I enjoy the debate but the only thing I keep hearing is, how can we boost the price artificially like Apple does with stock buy backs.  I have purchased over 1% of all Karma mined to date, it would benefit me short term to go PoS, but I think long term it attracts the wrong kind of support.  

Please try these:

1. Open your karma wallet
2. Press ALT+H
3. Click Debug window
4. Click Console
5. type this on the textbox of console window addnode altcoin.dk:9432 add

if the above does not work please visit this link

1. http://www.reddit.com/r/KarmaTeam/comments/24z7nd/welcome_to_our_new_karma_subreddit/
2. Scroll down to alexpsy comment and follow the steps outlined there that solved his similar prob.

Please tell us what happens.

Actually Shawn, the asics really fucked up Bitcoin. This is so centralized now, that nobody I know likes it. And it got nothing to do with "cheap farms". I was running a farm - not cheap, also have 4 friends that sold 3+THs of power when the last generation machines wasn`t even on the horizon. I have at least 10 friends that are running 30-40 + GPUs. Do the math and you will see that for the same investment they could buy asics. But they don`t, because companies like KNC and Butterfly Labs was building their own huge farms while lying to the world that they don`t mine, just selling shovels. So, the more centralized is getting this thing of ours, the more it is getting ruined. And the specialized hardware like asisc is the main reason for it. And don`t refer to the price of bitcoin, because if you choose any of the online calculators, you will see that no investment in asic can be returned. So the price of bitcoin got nothing to do with regular miner. If you are mining with farm, you should know it.


P.S. Do you really think that this is normal:
http://www.datacenterknowledge.com/archives/2014/01/21/bitcoin-infrastructure-mining-data-center/
http://www.datacenterknowledge.com/archives/2014/02/06/bitcoin-miners-building-10-megawatt-data-center-sweden/
https://www.youtube.com/watch?v=5CjldZLXiAU

What does it got to do with Satoshi`s dream for World, that is fkn free from the currency centralization chains?

wallet still says " No Block source available" here

I deleted the appt folder i downloaded the Wallet again, startet as admin, set it to compatibility mode for Win 7 added the nodes.

Still nothing here. I am on win 8 pro 64bit

Can someone help me ?

https://cryptocointalk.com/topic/4306-karmacoin-karm-information/

I had no idea we had another thread in the "other" forum.  Some one has been updating too, thanks Jimmy!

Has some config node listing too.

Why?  bitcoin has handled ASICs just fine.  The only thing is the difficulty went up which hurts the cheaper rigs.


Why not?  You mean, now that you have your coins we don't need anyone else getting some? Let's increase scarcity to line our pockets??


Nothing has been decided yet. 

if this is true
http://zeusminer.com/
only 4 machine can attack 51% KARM
we really need very fast more NET HASH or change scrypt to other x11 maybe

Sorry, I don't understand. Would you care to explain?


We would expect most of the Karmashares projects to not be successes (as I've stated a couple of times). It would be unnatural if most of them were.

However, it's more appropriate to view Karmashares as an incubator of many independent projects rather than a startup company.

There will be a new address for the Share Explorer. In it you will be able to see your wallet addresses and the percentage(s) of the company and shares associated with them.

Time will tell.

The poll to which you are referring is here, for the curious: Should Karmacoin change its code to decrease the total # of coins from 92 billion?

If we held the same poll today we would have different results, guaranteed.

(This was before Karmashares changed the nature of 92 billion coins being "a lot of coins". Karmashares is also one solution for the large number of coins. It does not interfere with the fundamentals of the coin code, nor does it pose much risk. Note that this does not imply that we are against PoS.)


The higher our price, the less of a need for PoS. (All coins do not "need" to go PoS, right?) It makes more sense at 10 litoshi than it would at 10 satoshi. (I am not implying that if our coin price is 10 satoshi then there is no need for PoS.)

Again, we are taking a cautious approach to a fundamental change. Anything else would be foolish. (There are a handful of PoS proponents on this thread. Can you imagine what kind of backlash there would be if shifting to PoS messed us up? How many more people would be outside with pitchforks?)

We have a long-term vision, not a short-term one.

I would add that Karmashare's biggest goals are the growth of the Karma economy, the widespread adoption of Karma, and the rewarding of coin-holders.

I meant putting doubts on the table must not happen. I am strong POS supporter. But keep in mind that this transition is very, very complicated. So we are not into position to demand POS. And if you ask me we are not into position to demand anything. If it can happen, it will be good. If not, other suggestions will be welcome. After all we are just brainstorming here. I now saw that Alphi involved the word "greed" into one of his posts, so let me put my point of view. I am mining from zero hour (day one). When we were at 8-11 litoshi I was buying, because I wanted to support Karma and this was my part. At 73 litoshi I didn`t sell. You will not see my coins on the market when the price is 73 satoshi also. I was ready to give big part of my wallet to someone who was able to push Karma on Mintpal. The coin should flow, not stay in several hands. Many coins in one hand is really bad for itself. Most people do not understand it, but it is true. When it flows into stupid hands though, we see sell walls, which is worst. By holding some coins I see my part of preventing downtrend inspired by such dumb morons, that are undermining our biggest goal - Karmashare. So this is not greed. It is a common sense.

P.S. I`ve lied about not selling at any price. I will have to sell some at 500 satoshi, so kosmost can go on a nice vacation, as I have promised.

+1

It must happen. We have voted on it and it has been announced with a block target and an estimated date, any attempt to go back on that would be catastrophic. I also agree that is a bad move to instill doubt by making polls and asking questions like "At what price level do we decide not to go POS when the time comes?" I guarantee you it will be manipulated one way or the other come the day of reckoning. We MUST have a solid set of details set in stone for the POS transition. No if's, no buts, no 'let's see what the price is' nonsense. In the words of Captain Picard - "Make it so."

Binding Karma POS with future price is the same as not deciding what to do. This is strong negative signal to the markets. It is the same as saying "OK, maybe we will try". Personally, I prefer what Yoda said "No, try not. Do or do not. There is no try". Do not bind going to POS with future price. It is a huge mistake. If you decide not to go POS, OK, say we shall not POS. Or we will do it. It is really confusing for everyone, when there is announcement for going to POS, and then we are reading that it may not happen if price is X. This must not happen.