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We are going LIVE on KarmaHangout.com!
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Solid week for us. Crypsty 24hr volume at 9BTC too!   |
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I'm going to wait some more weeks and then I'm going to do a nice bet I can imagine when Karma goes up before June 12th, that prize pot is going to be highly sought after and grow |
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Bad news for Team USA today, Landon Donovan cut from the WC roster! WTF?!?!? |
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I guess the markets have decided anything below 40Litoshi is major buying time. |
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This EPIC post needs a bump. So very well thought out. Sounds like the "Feel good movie of the year!" Such a great story playing out with Karma here. Love it. A good currency will be backed by something of value. The USD used to be backed by gold. Now it's backed by a promise from the US government and the fact that it's the de facto world currency. Its value now comes from the government's ability to enforce the dollar standard through diplomacy and military might, and confidence in the present and future economy.
Bitcoin is backed by confidence in its blockchain and the promise of a brighter future because it's the leader in the industry. In this way it mirrors the USD and has a "military" made up by the investors, developers, and companies supporting it.
The great majority of cryptocoins are not backed by anything. They rise in value from irrational exuberance in the marketplace.
Karma is unlike all other coins in that it is backed by something of value. "Karmashares" is our gold mine. There is no limit to the amount of value in this mine. The only limit is our imagination and our willingness to venture inside and discover the value. (It could be argued that NXT, NEM, and other similar coins are backed by the commodities/equities on their asset exchanges. However, the legality of such coins is questionable. Further, Karmashares will own all of its assets outright.)
But let's put it in context of US history.
The American Revolution and Karma's Place in History
Cryptocurrency is like the US economy before the US Constitution. We were first dependent on Bitcoin (the British) and their monetary instruments. The American Revolution changed that, but worthless paper money was still being used in the colonies.
Each colony is like a coin and prints their own money. The time now is like the birth of the US Constitution, with Karma. We are establishing standards and setting guidelines. Other coins do not care about such things because they do not plan for a real future. The future might and power of the new "United States of America" wasn't obvious then and it isn't obvious now. The founding fathers had foresight.
But what Karmashares is doing is "bringing the colonies together" in a different way. The model that we are building will facilitate exponential growth and expansion of Karma once we have some momentum.
There is a war going on now in the industry, whether or not it is called such. The war is Bitcoin vs. all other coins. We started out peaceably, as any new pilgrims do. But once the vast resources, wealth, and opportunity of this new industry are realized colonies (coins) began to declare independence from the motherland.
Regulation, consolidation, and surrender (and death) of coins is coming in 2014 and 2015. It is already starting to happen. Casualties abound. And colored coins, merged mining, contracts, and other inventions will swallow up remaining altcoins like there's no tomorrow. Few coins will survive this. I'm not saying these are bad things. Innovation is good. But what side of innovation will you be on? Will your next coin be a colored coin inside of Bitcoin (the British)? A contract inside of Ethereum (the French)? Perhaps you'll just be an asset on the exchange of another coin (stateless Welsh or Sikh). Maybe you'll survive by giving up your power and merging your mining with someone stronger (an alliance) or sacrifice your independence for security (colonization).
Karma is adding value to its coin through Karmashares in order to be at the forefront of these changes. The coin landscape is not obvious now, but it will be. When billions are pouring into Bitcoin via the new equities on US markets (possibly followed by other markets such as China, Hong Kong, Singapore, etc) it will become very obvious that cryptocurrency is going mainstream.
Once Karmashares takes off the devs of other coins will flock to us from their worthless coins and want to do iPOCOs of their own. Then you will see the true power of Karma backed by the value that Karmashares has built up over the months.
So, in my opinion, the only coins that will survive are the British (Bitcoin) and the United States of America (Karma). There will be other coins under the influence of both, but with our model we can actually become much stronger and more valuable than Bitcoin.
We are the only non-Bitcoin coin laying the foundation for our survival. It will be more obvious as time goes on, but only the foolish would be loading up on "colonial scripts" right now.
Nice work. We somehow need to incorporate "Paul Revere" by the Beastie Boys with the above analogy! Who's with me?!?!? https://www.youtube.com/watch?v=gNPBzAah-3k |
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holding, hands in pocket. not selling any until 100 satoshi Been mining my butt off with little 2x4 rig all this month. Com'On Karma! Might dump a little but I bet this is going waaaaaaaay up.  No dumping!!  Actually its not really dumping since you are just selling them to me super cheap right now! We are just above 1 satoshi right now, do you really think AsiaCoin has more promise than Karma? |
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if you want to trade swings, don't forget to take some profits... the dumpers will probably be on later tonight US time... if you just want to sit back and enjoy the ride then feel free...  holding, hands in pocket. not selling any until 100 satoshi |
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This is what a free fall looks like on Depth chart, poor shibes. No buyers. Were they effectively maxed out, reaching their saturation level already? Or is this just the effect of everyone jumping back to Bitcoin seeing no future in their marketing plans?  |
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SEEK HIGHER GROUND!!! A KARM TSUNAMI FORMING!!!  |
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hehe so now that anon features are becoming a fab i bet we will have a new wave of people asking us to do the same : )
Yep, zerocoin is promising pure anonymity. we'll see. |
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Well, after our next reward step, these ASICS miners will go to another coins, we will see way less dumping if we are right with this theory.
GPU miners will leave before ASIC miners do because GPU is about 10 times more expensive to run than a Scrypt ASIC. and we don't want all the miners to leave now do we? that would be very bad indeed.... more miners + cheaper more efficient mining gear is what we need.... so that everyone can run a small unit under their desk and not have to worry about huge power bills. Have any of the Scrypt ASICs hit the customers yet? |
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Also, from a purely technical vantage point, our miner rewards decrease by 75% next month, around June 23rd. So far we have handled the release of over 52B coins in just 3.5 months! The scarcity that will be created with this reduction should also raise the price. We have 6B coins left to release before June 23rd.
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If you want to win millions of Karma? please consider a 100,000k minimum bet in our KarmaWorldCup.org! Raising funds in the process for a great charity! World Cup media is about to kick into high gear. We can really tag along with this fervor with a huge prize pool. Current prize pool over 24M KARMs |
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Ι may not be so active as other users but i follow this thread every day. And i can say it's a joy reading all these about this great coin! Finally i see a coin with potential and great projects for the future! Regarding the Paypal/eBay deal i say fuck that shit. Karma is made for another reason and has great features that will make it stand out anyway. It may take a little longer but we don't need that kind of stuff. At least for now as there are 3-4 devs and you sure have lot of work to do guys. I mean lot of work for 3-4 people to make current projects perfect and they really are great projects (Kosmost once said "if it's not broken you haven't really touched it" !). You (we) are doing great. Move slow and steady. Personally i don't give a damn about current price. It may as well stay there or even lower so more people can join us. Great things are to come. We are not dumpers. We like to believe in something. Just my 2 cents..excuse my English.
Good stuff. Thanks for the kind words of support. This is a battle of survival of the fittest and a belief in a profitable future with a focus on doing good. We have a solid team and want it to grow. If you think you can help, PM us. I have reached out on behalf of the team to 37coins.com today. This is just one of the many projects we are working on. You don't need to be a hacker coder to make a difference in this game. We need help with marketing, communication, investor outreach, strategic planning, and all around simple administrative tasks. Adding value to the community is paramount to its success. We love that everyone is supporting by holding tight, but please consider joining us if you have an extra 10 or 15 minutes a day, you can make a real difference. |
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Is it possible that one single person can buy all of the auctioned stakes?
I think there is a limit of 2 stakes per auction. Seems like we are getting away from the most egalitarian distribution if ppl are allowed more than 1 stake pre-launch. Hm is NEM most egalitarian before ? Do the developers take 3-4% each, don't they ? I am in this because of POI and colored coin. People who help the most should get the most so I don't mind the developers but avoid the term "egalitarian". Giving people according to contribution seems better than dividing everything equally. I'm trying to ignore that part. For the auction, everyone should have one bid, come with your best. All bids stay blinded. Top 115 bids win. |
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Is it possible that one single person can buy all of the auctioned stakes?
I think there is a limit of 2 stakes per auction. Seems like we are getting away from the most egalitarian distribution if ppl are allowed more than 1 stake pre-launch. |
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Is it possible that one single person can buy all of the auctioned stakes?
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