My thoughts on nhzKARM are don't buy it. The intent is not bad and East is a member of the community so I'm not going to pull it apart although I have strongly considered it.
However I encourage people to view it under each of the following perspectives:
1. You are giving funds for somebody to manage on your behalf, East is effectively your fund manager. Are the funds being invested anywhere or somewhere with a side purpose in mind, do you like this?
2. The funds used for purchasing the nhzKARM from East are diluted by nhzKARM given away for free and nhzKARM used for marketing activities. Early investors funds are worth 10 times more than late investors funds, therefore you have free, cheap and then very expensive shares. Will willingness to participate decline at each stage?
3. You are investing in a new cryptocurrency. What's the premine like and who has control of the premine? What is the allocation of the premine?
This won't be anything more to Karma than a member of the community's project. As many of you are aware East has been one of the major holders of funds collected for donations, none of the funds collected previously or in the future without the express request of the person that donated them will be invested into this project. I'm sure East will confirm this here.
Thank you East for creating this large undertaking to try to help Karma.
Chargin.
Thanks for clearing the points that possible supporters of nhzKARM should consider. I have outlined the plans in a general way, as were inquired by socoban and learminer before this.
When the first week offering is over and the initial total fund is clear, specific investment and percentages will be sent to the assets holder through the NHZ wallet messaging function, so while the public is getting the general ideas of what is going on, only actual asset holders will know the specifics.
As of today, 300 000+ NHZ is collected. Thanks for the vote of confidence.
Give away of 3 000 000 nhzKARM is also almost depleted. around 300K left.
Karma-generous-donors, token-of-appreciation give away is reflected below:
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Forget about this project of mine for now as a Karma community, there are other pressing matters that we need to address, I have sent some of you the message that outlines my ideas for our effort to move forward and upward.
One thing is undeniable at this moment, we need a GOVERNING BODY, For me, a cooperative form of governance will be our best choice. No individual will hold too much power nor responsibility, instead it will be equally shared among the board of directors, which we can set to as how many as we want.
About the funding, we can then set an ESCROW 3rd party to hold whatever business fund we may decide to put up, as we have done before with the LLC, when we have it escrowed, only the approval of the board of directors will enable a withdrawal for any project or expenditure need.
If you agree, we should meet in WEBOGRAM, it is a desktop version of telegram, I know, some of you does not want your mobile auto correct function messing with your speed typing so, WEBOGRAM is a very nice alternative. Let's meet there, talk in real time. Or if you can't make it on the same time you can leave there a message and when you get back what ever happened on the meeting will be available in the chat history, JUST SCROLL UP.
Thank you again for staying with KARMA on its ups and downs. Good Karma to everyone.
