Karmashares did it`s job. It is time for POS on 51-52 bill and push for BTC market. We voted for it and I think we should do it, if possible. No need for waiting anymore. Different signals to the markets are no good in long and mid term.
Are you joking ? Karmashares just started its engine two weeks ago, it has almost no ''power'' for now, all is coming in few future weeks with the 3 IPOCO websites projets (Lill, Wespond, Hireplex). Once they will be open, Karma will start to be very HOT and attractive !
I am looking long term, if we are able to make it and succeed and stay PoW only, we will be celebrated. If we switch to PoS and succeed there will be an asterisks there.
Do we really want to follow BadgerCoin??
http://badgercoin.infoI mean, this is Karma, we are a LiteCoin clone like Doge. We have a clearer vision and better plan of action than most. Let those other coins pander to the quick buck and go PoS. In terms of securing the networks, there are already theories of joint mining where we piggy back onto another clone for merge mining (
http://www.cryptocoinsnews.com/news/charlie-lee-proposes-merged-mining-ltcdoge/2014/04/08) and strengthen each other's network against a 51% attack.
There are going to be tens and maybe hundreds of other coins wanting and willing to do this at some point. Maybe Karma will lead the way with merge mining?
We have PoC already in action and in the long run will gain much more supporters through the respect and perseverance of staying PoW than messing with a hard fork to PoS which could potentially lose coins that were mined properly.
I look at going PoS as a last ditch BadgerCoin effort, if we are at 5 Litoshi near flatline, auto PoS activate! Let's hang tight right now and see how this unfolds. Again, I am not against PoS if we all agree on it, just don't want to jump to anything before it is completed vetted and all current and future options are weighed.
Exactly, every failing coin out there wants to switch to PoS now. 3 weeks ago Karma making the switch would have been a news item, today it'd be like "them too?" ... In the long run the community, projects, services and initiatives around Karmashares and Karmafund will be more important, I know that.
But that doesn't mean a short term effect is bad or even unneccesary. News about actual development on the coin would probably cause the price to move in a way that makes existing holders happy AND attract new buyers. This renewed interest in the coin in general would also help longterm, as it generates more poblicity and interest for the upcoming projects. Right now Karma is still an "under the radar" coin, I know for a fact many altcoin traders still file it under "dead coin" and basically think the PoC boost was just a little pump and dump. They couldn't be more wrong IMO, but it is their perception and we need to change that.
The most important effect of PoS for me would be protection from scrypt ASICs, but I'd prefer other solutions. I've suggested a move to another PoW algorithm before (like Groestl or X11), or adopting a multi-algo aproach like Myriad (though that's probably too complicated to implement). Merged mining is an option I overlooked. Very good suggestion by ShawnLeary.
Little known fact: did you know ALL of the 5 algos of Myriad can be merge mined? Imagine what an awesome altcoin alliance that could turn into! Myriad could and probably will team up with a few coins for every algo and the entire group will benefit each other! Much win, such innovation!
To end this rant, the thing that makes me a bit nervous is not the postponed announcement, but the apparent lack of a decision. There are mixed messages form the team. A while ago there were votings and then it was suggested that the PoS switch and a reward reduction announcement would follow shortly. Today it seems that the team is indeed still debating internally what to do, nothing has really been decided yet. That also gives the impression that no actual work on a transition has been done, which IMO would be really bad news. I don't need an announcement but I'd like to see a clear message going forward.
