Komost you say you dont leave this coin till 500.
Is it 500 LATOSHIS or 500 btc SATOSHI ?
About the people who dump their coins.
If you dont trust a coin dont invest in, we dont need dumper.
If people keep more coin in their wallet the price will go up much faster than putting big sell order...
Topic: [ANN][KARM] Karmacoin - New Initiatives - Helping People Do Good - page 24. (Read 352484 times)
April 20, 2014, 07:06:06 AM
April 20, 2014, 06:57:16 AM
Let's say I buy 100 Million Karma - What happens if after 6 months this company goes bust? I lose everything?
lets say crypto got banned in all world u lose everything ?
That's an unnecessary reply to a serious question. That will not happen. The chances of a small Limited liability company folding however are extremely high. What is the situation should the company collapse dev? Can I simply exchange my points back to Karma or BTC and be done? or will the coins be used by you?
April 20, 2014, 06:51:34 AM
Let's say I buy 100 Million Karma - What happens if after 6 months this company goes bust? I lose everything?
lets say crypto got banned in all world u lose everything ?
April 20, 2014, 06:47:29 AM
Let's say I buy 100 Million Karma - What happens if after 6 months this company goes bust? I lose everything?
April 20, 2014, 06:42:13 AM
Biggest resistance should be around the 40. thats where the 1 satochi is ....... next wave will be to 120 or more
April 20, 2014, 06:05:58 AM
How do people feel about this whole Karmashare thing and POC? From what I am reading it all sounds great. I have about 100 mil KARMA that I am debating on investing into this POC. I do not want to get ripped off or anything though.
Understood. There's nothing wrong with having a 'wait and see' stance. Sure, you may miss out on the bonus period but you'd still have a share. Also, you can just keep coins in your wallet after May 10.
If we rip you off then we're also ripping ourselves off. (And I lose the thousands I've already spent on Karmacoin-related expenses.) If we do that, the price would crash. That would be shooting ourselves in the foot.
100 million is a lot for many of us, but I just gave away at least that much in the past couple of weeks. To even think of ripping someone off for billions of coins would be kind of funny, especially when my name is on the LLC documents.
Play it safe and see how it goes. If we hit 500 satoshi I will buy you a beer!
The thing I am concerned with is what happens when KARMA becomes worth 4-500 litoshi...or more....will I be getting as much btc from my karmashare investment, as I would be getting from just exchanging my coins on an exchange??
It seems very enticing... but I want to know eveything about it before I invest
It seems very enticing... but I want to know eveything about it before I invest
The main driver for Karmacoin in the next few months at least could very well be Karmashares.
You'd probably make money either way. But a stake in Karmashares represents the potential of a lifetime of dividends. That's how a lot of rich people stay rich (living off of stock dividends).
But if another company wanted to buy Karmashares because of our app, Karma rewards, or the whole package, then you would only get a % of that if you owned a piece of Karmashares.
Distribution according to the proportion of investment?
Example
I give 100000000KAMR
I MAY HAVE 92/1 The total of Shares?
OR when the end
The total investment statistics
If have 1 Billion
I may have 10/1 The total of Shares?
April 20, 2014, 05:49:05 AM
How do people feel about this whole Karmashare thing and POC? From what I am reading it all sounds great. I have about 100 mil KARMA that I am debating on investing into this POC. I do not want to get ripped off or anything though.
Understood. There's nothing wrong with having a 'wait and see' stance. Sure, you may miss out on the bonus period but you'd still have a share. Also, you can just keep coins in your wallet after May 10.
If we rip you off then we're also ripping ourselves off. (And I lose the thousands I've already spent on Karmacoin-related expenses.) If we do that, the price would crash. That would be shooting ourselves in the foot.
100 million is a lot for many of us, but I just gave away at least that much in the past couple of weeks. To even think of ripping someone off for billions of coins would be kind of funny, especially when my name is on the LLC documents.
Play it safe and see how it goes. If we hit 500 satoshi I will buy you a beer!
The thing I am concerned with is what happens when KARMA becomes worth 4-500 litoshi...or more....will I be getting as much btc from my karmashare investment, as I would be getting from just exchanging my coins on an exchange??
It seems very enticing... but I want to know eveything about it before I invest
It seems very enticing... but I want to know eveything about it before I invest
The main driver for Karmacoin in the next few months at least could very well be Karmashares.
You'd probably make money either way. But a stake in Karmashares represents the potential of a lifetime of dividends. That's how a lot of rich people stay rich (living off of stock dividends).
But if another company wanted to buy Karmashares because of our app, Karma rewards, or the whole package, then you would only get a % of that if you owned a piece of Karmashares.
April 20, 2014, 05:39:28 AM
First of all good job so far kosmost and the whole team. There's a great deal of excitement in the air now, great time to be part of this community! 
That said, I have read through the Karmashares site and FAQ several times now. As exciting as I find the idea (its really quite simple, as most great ideas are), its the details that irritate me.
You say that shares are reserved for potentially any Karmacoin that will ever be created (~92Billion max). But how do you prevent "double claiming" (for lack of a better term)? Lets say I decide not to exchange my coins, but instead participate by holding them in my wallet for 30 days. I then get shares/points for every one of those coins, so theoretically their shares cannot be claimed again, right? What if after those 30 days I decide to sell half of those coins. The buyer now wants to also claim his shares, but his wallet now contains 5.000.000 of my "already claimed" coins and lets say 5.000.000 "unclaimed" of his own. This is when it starts to get really confusing.
Exchanging them is more straightforward at first glance. But what exactly happens to those coins? Do they stay in cold storage for a certain time, or are they destroyed (sure hope not, though that might increase value of the remaining coins)? If they are not "locked away forever", then we will run into the same problems described above as the coins enter circulation again.
Maybe I just don't get it yet , but I feel I'm not alone. I think you'll still have to finetune the site explaining the concept in the coming days.
@rickyross I don't think kahir is trolling, he's just voicing his opinion. Lets be nice please.
My understanding of karmashares is that when someone wants to invest, they need to have at least 10 million to invest. Their Karmacoins are traded for Karmashares at 1000 coins per share/point. The Karmacoins become the property of Karmashares LLC and in exchange, the investor is given 1 share/point (per 1000 Karmacions traded) of ownership in the company. A total of 92 billion shares/points comprise 100% of company worth, so the amount of shares/points you own against the 92 billion total shares/points determines the percentage of company ownership you have.That said, I have read through the Karmashares site and FAQ several times now. As exciting as I find the idea (its really quite simple, as most great ideas are), its the details that irritate me.
You say that shares are reserved for potentially any Karmacoin that will ever be created (~92Billion max). But how do you prevent "double claiming" (for lack of a better term)? Lets say I decide not to exchange my coins, but instead participate by holding them in my wallet for 30 days. I then get shares/points for every one of those coins, so theoretically their shares cannot be claimed again, right? What if after those 30 days I decide to sell half of those coins. The buyer now wants to also claim his shares, but his wallet now contains 5.000.000 of my "already claimed" coins and lets say 5.000.000 "unclaimed" of his own. This is when it starts to get really confusing.
Exchanging them is more straightforward at first glance. But what exactly happens to those coins? Do they stay in cold storage for a certain time, or are they destroyed (sure hope not, though that might increase value of the remaining coins)? If they are not "locked away forever", then we will run into the same problems described above as the coins enter circulation again.
Maybe I just don't get it yet , but I feel I'm not alone. I think you'll still have to finetune the site explaining the concept in the coming days.
@rickyross I don't think kahir is trolling, he's just voicing his opinion. Lets be nice please.
Doing thank us yet. We've only just gotten started.
My understanding of karmashares is that when someone wants to invest, they need to have at least 10 million to invest. Their Karmacoins are traded for Karmashares at 1000 coins per share/point. The Karmacoins become the property of Karmashares LLC and in exchange, the investor is given 1 share/point (per 1000 Karmacions traded) of ownership in the company. A total of 92 billion shares/points comprise 100% of company worth, so the amount of shares/points you own against the 92 billion total shares/points determines the percentage of company ownership you have.
This sounds about right. Except, "A total of 92 billion [coins worth of points] comprise 100% of company worth..."
If you exchange 25,000,000 coins right now you get 250,000 points. This will be far more than someone exchanging the same amount on June 1st (43,750; calculated by a 1.75 multiple instead of the 10x multiple you can get now).
But realistically-speaking most of the 92 billion coins will not be exchanged, and will not sit in a wallet for 30+ days. So there will be a large portion of points that will never be claimed. But the members who have claimed points will also claim the profits reserved for these points. (And if some of the unclaimed points become claimed in the next quarter, the profits will be distributed accordingly.)
I hope this answers your question. Please let us know if there's anything else we can do to further-clarify how it works.
April 20, 2014, 05:34:57 AM
It´s hard for me to understand.
But in conclusion, you double the amount of shares. So for each coin there will be an additionally karmashare. So wheather you receive coins for share, or you keep the share, you will have half of all shares/coins. Isn´t it?
So thats´s just an additionally IPO?
April 20, 2014, 05:30:55 AM
Looking forward to the answers. We'll need them soon if the kickoff is indeed going to be tonight. Cannot decide how/what to invest if I don't understand the system.
On another note - damn is price moving up fast. Slow down people, we want this coins price sustained, not pump and dumped.
Anyway, bye bye cheap Karmacoin, I wish I had bought more of you. But I was always out of LTC when price was lowest. I guess I need to find new homes for my buywalls now. It was fun defending KARM against dumpers for the past few weeks. ;-)
I will watch where the new floor settles and then help wall there as long as I have some LTC left.
On another note - damn is price moving up fast. Slow down people, we want this coins price sustained, not pump and dumped.
Anyway, bye bye cheap Karmacoin, I wish I had bought more of you. But I was always out of LTC when price was lowest. I guess I need to find new homes for my buywalls now. It was fun defending KARM against dumpers for the past few weeks. ;-)
I will watch where the new floor settles and then help wall there as long as I have some LTC left.
It's possible that it's still cheap now, even at 60 litoshi. There's no way to predict the future, of course. I can only predict that I will not rest until we hit 500 satoshi
April 20, 2014, 05:27:33 AM
i don't get what is happening right now lol......
just chaos buy and sell orders can't see where its going lol
Did you check the volume? Between Cryptsy and Minpal KARM has been generating around 20BTC (or 800LTC) trading volume today. That's still not much compared to what will come, but much higher than anythign this coin has seen in a long, long time.just chaos buy and sell orders can't see where its going lol
Of course volume brings volatility. New people pouring in raise the price (no time for slow accumulation), others want to supress it (to keep buying cheap KARM for a while longer) or just want out with a healthy profit (don't forget, there's plenty people who bought KARM at 10litoschi - ~27litoshi is fantastic profit).
The more attention KARM gets the coming days, the more volatile price will get. But the base value (average price) has already risen 100% compared to 2 days ago. I think it will only go up from here.
we'll see.. hopefully in a few days those who downvoted this thread will understand what it means to "secure the economy" lol
Take a look at Reddcoin. They've got a secure network but a declining economy. We're just getting our economy started. (I hope they implement PoC, too.) By making our economy stronger we are securing our network at the same time, through increased participation.
April 20, 2014, 05:21:26 AM
First of all good job so far kosmost and the whole team. There's a great deal of excitement in the air now, great time to be part of this community!
Apologies if this isn't clear from the FAQ. It still needs polishing and I hope that it can be exceedingly clear and well-explained within a couple of weeks.The number of points is capped (number of coins * maximum multiple) but these are attached to the coins themselves. So if you own the coin you have a claim to the company and profits. If you sell your coins to someone else, then they have that claim.
Your membership kicks in after 10MM coins + 30 or more days, but will be calculated according to how long you've held your coins during that period. You can certainly do as you suggested but you'll only get a portion of the profits for that month.
1 coins can only be in 1 wallet at a time (even in the fuzzy superposition of the Quantum period!), and if you have 64MM coins in your wallet for 50 days then sell 20MM it will be calculated accordingly on a pro-rated basis.
Thank you for clearing that up.
I am in.
April 20, 2014, 05:18:53 AM
Poor English, a little did not understand. But already purchased shares 
April 20, 2014, 05:16:53 AM
Could the thread-creater please update the exchanges? The current situation is very unsatisfactory 
April 20, 2014, 05:13:57 AM
First of all good job so far kosmost and the whole team. There's a great deal of excitement in the air now, great time to be part of this community!
There is always excitement when the price is going up. But I will still be excited about the possibilities with Karmacoin. If the price is at 1 litoshi or 1000 satoshi I will still be here beating the drums
The name itself has tremendous value.
That said, I have read through the Karmashares site and FAQ several times now. As exciting as I find the idea (its really quite simple, as most great ideas are), its the details that irritate me.
You say that shares are reserved for potentially any Karmacoin that will ever be created (~92Billion max). But how do you prevent "double claiming" (for lack of a better term)? Lets say I decide not to exchange my coins, but instead participate by holding them in my wallet for 30 days. I then get shares/points for every one of those coins, so theoretically their shares cannot be claimed again, right? What if after those 30 days I decide to sell half of those coins. The buyer now wants to also claim his shares, but his wallet now contains 5.000.000 of my "already claimed" coins and lets say 5.000.000 "unclaimed" of his own. This is when it starts to get really confusing.
You say that shares are reserved for potentially any Karmacoin that will ever be created (~92Billion max). But how do you prevent "double claiming" (for lack of a better term)? Lets say I decide not to exchange my coins, but instead participate by holding them in my wallet for 30 days. I then get shares/points for every one of those coins, so theoretically their shares cannot be claimed again, right? What if after those 30 days I decide to sell half of those coins. The buyer now wants to also claim his shares, but his wallet now contains 5.000.000 of my "already claimed" coins and lets say 5.000.000 "unclaimed" of his own. This is when it starts to get really confusing.
Apologies if this isn't clear from the FAQ. It still needs polishing and I hope that it can be exceedingly clear and well-explained within a couple of weeks.
The number of points is capped (number of coins * maximum multiple) but these are attached to the coins themselves. So if you own the coin you have a claim to the company and profits. If you sell your coins to someone else, then they have that claim.
Your membership kicks in after 10MM coins + 30 or more days, but will be calculated according to how long you've held your coins during that period. You can certainly do as you suggested but you'll only get a portion of the profits for that month.
1 coins can only be in 1 wallet at a time (even in the fuzzy superposition of the Quantum period!), and if you have 64MM coins in your wallet for 50 days then sell 20MM it will be calculated accordingly on a pro-rated basis.
Exchanging them is more straightforward at first glance. But what exactly happens to those coins? Do they stay in cold storage for a certain time, or are they destroyed (sure hope not, though that might increase value of the remaining coins)? If they are not "locked away forever", then we will run into the same problems described above as the coins enter circulation again.
Maybe I just don't get it yet , but I feel I'm not alone. I think you'll still have to finetune the site explaining the concept in the coming days.
@rickyross I don't think kahir is trolling, he's just voicing his opinion. Lets be nice please.
Maybe I just don't get it yet , but I feel I'm not alone. I think you'll still have to finetune the site explaining the concept in the coming days.
@rickyross I don't think kahir is trolling, he's just voicing his opinion. Lets be nice please.
Coins will be held as used as deemed appropriate to grow the business. Our best solution, for now, is to find people who are willing to work for Karma. (This also forces us to create a marketplace for Karma, so that's good.)
Another solution, as some others have done with Bitcoin, is to get a banker to agree on the asset value of Karmacoins held and use this as collateral for a loan.
We do not want to harm the market price by dumping coins. We can do, perhaps, 90% or more of what we need by paying in Karmacoin (developers, especially) in small amounts rather than a lump sum.
There's no reason that certain items (such as servers and other fees) can't be "donated" to the Karmacoin effort by members of the community in order to grow Karmacoin. It's what I have been doing, and it will essentially pay for itself.
Maybe I just don't get it yet , but I feel I'm not alone. I think you'll still have to finetune the site explaining the concept in the coming days.
@rickyross I don't think kahir is trolling, he's just voicing his opinion. Lets be nice please.
@rickyross I don't think kahir is trolling, he's just voicing his opinion. Lets be nice please.
Agreed. Thank you for reminding me.
@rickyross I don't think kahir is trolling, he's just voicing his opinion. Lets be nice please.
It's good to have different opinions, and I see no one trolling on this thread, thankfully.
A bit more chaos may even make us better, as we make a pilgrimage into new territory.
April 20, 2014, 05:01:27 AM
kosmost
i would like some tutorial with steps for how to get karma shares with your karma coins ... alot of people asking me on twitter
April 20, 2014, 04:59:46 AM
Karmashare is nothing but removing all sell orders in order to cause a shortage of supply and to force up the price...
did u miss the train bro ?
Lol, don't thing so... I have 1.2 Billion Karmacoins
April 20, 2014, 04:54:32 AM
Karmashare is nothing but removing all sell orders in order to cause a shortage of supply and to force up the price...
did u miss the train bro ?
April 20, 2014, 04:51:58 AM
Karmashare is nothing but removing all sell orders in order to cause a shortage of supply and to force up the price...
April 20, 2014, 04:51:24 AM
What is total karmashare points ? So I can calculate % of profit ?
Thanks...
Thanks...
Points will be claimed as people exchange their coins during the Quantum (bonus) period. On May 11, when the Quantum period is over we will know how many total claimed points we have and also how many unclaimed points are left.
(Since each of the 92 billion coins will have points reserved just in case the owners decide to exchange or 'mint', there will be a large portion of unclaimed profits. But thanks to PoC you will get their share of profits since you have already 'proven' your coins.)
However, I'll make the first update to the Shares and Points list shortly so you can see what percentage you have. (This will be dynamic until May 11 because other people are claiming.)
But the number of points you get today will not change. That will stay the same. If you exchange 40MM coins for points today, you will get 400,000 points and keep them forever (until you decide to sell them or whatever).
Hope this answers your question.
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