People are rightly paranoid as the history of cryptos is filled with pitfalls, to put it mildly. I think the idea here is really interesting, however, and hopefully you guys will prove it to be viable and increase the value of Karmacoin and do some good in the world. Everyone out there can't be a bad guy, there has to be some good guys/gals. It would really set a good example and could start to change the perception of cryptos if this is the exception to most of the crypto investment sorts of things going on, so I am totally hoping this all works out for everyone.
Personally, I just have some Karmacoins that I bought at a lower price as it seemed Karmacoin had some good ideas and leadership behind it... all of a sudden. Karmashares is interesting, but as I don't know any of you personally, no offense, you sound like great people, I am more interested in the POC concept and how that plays out.
Can you explain Proof of Coin and what happens if I decide I am just too paranoid to risk investing, but still hope the best and want to "hold" Karamcoin for the POC element?
Additionally, I think looking into Karmacoin, one of the community managers of Mintcoin joined the Karmacoin team? Did they find Karmacoin to have more potential or is there any way that can be clarified? (Love Mintcoin - just curious)
Does the LLC exist or is it in process? Are there legal documents for the LLC that you can show to indicate that this is something more? What is the address for the LLC, I am unclear on that, and it if is a home business or whatever, I have one myself, not an issue and low overhead is fine with me. How about real names? Is there any reason to be anonymous? As an LLC everything would be above board I imagine and real identities would go a long ways toward raising confidence for people willing to gamble a bit and send coins, or even buy coins at this point. I have seen a couple names in articles, I am just not sure who is who and exactly what is going on - transparency would help a great deal. Thanks!
Lastly, I run a large crypto currency club and Karmacoin is one of the most interesting ones currently. So I am asking for a lot of other people as well. Best I can tell the Karmacoin community sort of picked up the ball and ran with it and is trying to make Karmacoin into a success. Nothing at all wrong with that, and some of the most successful cryptos that is exactly what it took. Open source, so go for it in my view.
''Can you explain Proof of Coin and what happens if I decide I am just too paranoid to risk investing, but still hope the best and want to "hold" Karamcoin for the POC element?''
If you decide to see what happens with PoC, it is easy : if you hold your coins more than 30 days on your wallet, you will receive share profits from KarmasharesLLC quarterly, but with no ''bonus'', so 1000 Karmacoins will bring you 1 share profit, you have to hold minimum 5 000 000 KARM at this time to get profits from Karmashares. This value will decrease when Karma value will rise.
I worked few times as community manager of Mintcoin (hey David Latapie
) but I quited for few reasons.
A this time (when we saw the BIIIG pump to 80 satoshi), we had a worst organisation inside the team than we have now in KarmaTeam. I didn't like delays each time asking something to Mintcoin devs, little lack of task organisation, no real leader. I loved Mintcoin ideas and PoS system but I can say that now with Karmacoin and Karmashares we have REAL plan, REAL schedule for more than one month and a half.
New people is coming here without knowing all the work, time, energy and money we put in this project.
IT IS NOT JUST A COIN, it is FUTURE
I certainly won't be selling any Karma myself. Perfect name really, with solid leadership there is a vast amount of mainstream potential here. I think I hold enough Karmacoin to do ok with the POC concept and won't be dumping them. Maybe even buy some more of them.
