just noticed something pretty weird, it's still more profitable to mine karma at the current difficulty of 4.822 and sell for 20lit than it is to mine LTC directly.. thats how it stands at the minute, if the difficulty was to go up past 5.5 then you would be better mining LTC and buying karma with them in anticipation of the price rise.
personally i'm keeping an eye on it to horde more karma.. it's a double edged sword though and i dont know which helps more... more volume through the exchange by me buying karma after mining LTC or mining karma directly but nothing goes through the exchange
I would say its more ironic than weird.. whoever it was that was mining the hell out of this coin and dumping seems to have left...
right now for those people who believe in the idea of an altruism based coin.. it is a bargain to buy or mine.
I'm getting more coins now with half as many cards mining it than I was a week ago before the block reward halved.
the cryptocoin community is full of noobs who do not understand the real value of crypto currencies so they are always thinking in terms of how they can make more Fiat money.
what they do not realize is that their "Fiat" money has been devaluing constantly for more than 100 years.
what we have seen in the past few weeks with Altcoins is just hysteria around the mt gox issue and people trying to move their money back into fiat or atleast into safer cryptos like BTC and LTC.
nothing we say or do here at KarmaCoin central will change that broader downtrend until the hysteria subsides.
so that being the case we might as well pull up a chair, open a few drinks and enjoy the easy mining while it lasts...
in a few months time you will either be thinking.. "WOW that was the best few weeks if mining I ever had.." or "WOW I just wasted a few weeks of my time, meh"....
either way doesn't seem so bad..
meanwhile look at whats happening in Crimea right now... people can't withdraw more than 20-30 USD worth at a time from their ATMs.
pretty soon people all over the world will get sick of being told by the banks what they can and can't do with THEIR own money..
and when that day comes.. decentralized Crypto currency will be back in fashion again.
Long live Cryptos, Down with the banks!!