We (the new team for more than 6 weeks)
since everyone has been here since pretty much the beginning, you could say its the same team minus one guy who launched the coin and then got bored with it... yup , karmacoin=karma still the same coin. Karma = new name because future clashed with Karma Koin http://karmakoin.com/ Karma = the name was chosen by the active people who voted in the poll karmacoingood = stopped updating the old thread, the facebook account, the twitter account , closed main site, closed his pool, stopped doing coding for us. Teamkarma = took thing in their own hands. pushed the changes and all the necessaries to stay relevant in the dying market. TeamKarma = introduced KarmasharesLL , first of many steps of building a strong part D. Possible introducing POS + POW + POC (POS is still being thought on) TeamKarma = The sudden rush to buy new coin to invest and possible POS created a hype so big that cryptsy added us and mint pal blew up to 2000LTCs sales Karmacoingood = Probably hears the exploding news. Fells bad. Sees KarmshareLLCs. Thinks we are profiting $$$ . Realizes he is in the dark. Angry that misses the train. Starts calling us out with fake allegation. Karmateam = asks him to give up his accounts and offers him so sit as a silent consultant karmacoingood = boots everyone from reddit moderator list. Bans a member. Karmateam = ask people to switch over to new thread and sites Karma community = eating popcorn when they should be helping us build Part D : ) Ps: Unless i invest in KarmashareLLC just like the rest, i do not see any points credited to me. Nada. Zero . Zelch. Everyone who invests in Karma should consider doing one thing to help each day, even if its just sending a Tweet, that takes 10 seconds. Post in another forum about the momentum that is happening here. I don't want pumpers, that's not our goal, but spreading the message so that we attract more help. If you can't directly help the team, try to recruit someone who might be interested. |
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We (the new team for more than 6 weeks)
since everyone has been here since pretty much the beginning, you could say its the same team minus one guy who launched the coin and then got bored with it... +1 this |
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kosmost, would it be overly personal to ask what your occupational background is? Specifically, have you ever been involved with business ownership in the past and or marketing experience prior to the last few months with Karma?
Additionally, could you give us more details how the KarmaShare Cons will be held and who has access to them. Sure, you mentioned "in the cloud"...and I believe you replied earlier that only you would have access to these coins. I would appreciate further details where the coins are more specifically if that is possible. Also, has the idea been kicked around with the management team to allow for more of a multisig keys with respect to gaining access to the KarmaShare coins? In other words, multiple people have keys to the coins, yet all or a majority of keys/passwords/you get the idea are required to gain access to the coins. Something along those lines that would disallow a single person access to the coins. I reckon there are some pros and cons of the principle, but was curios if it was kicked around at all?
Thanks for your commitment and long days!
Really liking the possibility of the Search Engine Monetization Concept using Yahoo Boss by the way. That one just may darn have some legs.
Hi. Good questions. The wallet is held offline in secure storage, not "in the cloud". I have access to them, and no one else. This will change in future but probably not anytime in the next couple of weeks. As the Responsible Person for the LLC I have to ensure that the wallet is being managed responsibly. The only way to be 100% sure is to do it myself. I don't know if multi-sig is implemented now but if not, then it is something to consider. The plan is to hand control over the wallet over to a trust once we have that set up. It is my opinion, though, that the funds be managed by the community rather than management. It could be management's job to make sure the community gets what it need (such as I am doing now) rather than acting in self-interest. Any outgoing funds should be voted on, in my opinion. We can do this in an automated way through the Share Explorer in future. For example: "Marketing Budget for XXX: $xx,xxx equivalent of Karma" [change value // approve // comment] or, "We are planning to do XXXXX.. Here are the benefits.. Here are the possible challenges...." etc However, please remember that we are only 5 days into it now. There is still much that isn't set up. I'm doing the Shares and Points list manually (as well as the PDFs). Among other reasons, it's why we're giving you a 10x bonus now. If you're more comfortable with investing when everything is set up, you can always do that at a later time. Think of me as your Marcus Aurelius. When Rome is safely into the hands of its citizens then I will quietly step aside and be just an advisor, knowing that is in more capable hands (yours), with a Senate (management) whose job is to execute the will of the people. True Crypto-Democracy! Love it! We should really consider a poll for naming what the Senate Leader's title should be though. Chief KarmHead Karma in Chief CKO (Chief Karma Officer) His Karm-highness Majority Karma Leader Prime Karminsister Governor Karmalicious Grand Duke of Karmalandia |
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I could have sold a bunch at 73 litoshi and have been close enough to break even and call it a day, if that's what I wanted. That isn't my goal, and also not the goal of the rest of the team. These guys are tireless and often, at times, make me feel like a lazy slob. I have worked for two large cap and one small cap companies during my time in medical device sales. Prior to that, 10 years inside a very stressful area of the hospital, the Cardiac Catheterization Lab, helping to save people having heart attacks. During this time, I have worked for, and alongside, some amazing individuals, very savvy in project development, sales, marketing, and overall vision and strategy. Kosmost, and the rest of the guys, are down right scary, in regards to how hard and how dedicated they are to KARM. These guys are good. I feel like a broken record and a hype man, but seriously, I don't know if kosmost sleeps. The only reason DOGE is where it's at right now is the rabid commitment to the cause by the shibes. They are all, also, huge dog lovers, but I digress. Its their community and the people whom are dedicated to pushing the same rock up the hill. This crypto revolution is entirely about survival. We either succeed or we lose. There isn't going to be an in-between. Join us, you won't be disappointed. My hype man inspiration: http://youtu.be/JTIPQdlLKTA |
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@cryptowho I only care about price right now as a mean to buy more Karma to be honest. So in that way the low(er) price is actually welcome. I expected price to remain higher though and am a bit sad that I could have twice as much Karma, had I waited a day longer to place my buys. But long term it doesn't matter that much.
I have invested a considerable postion of my holdings into the LLC, so I am a firm believer in the formulated goals and a bright future for Karma.
Exactly! No way anything goes up 600% in a few days and doesn't correct. My technical prediction is we do not see 14-15 Litoshi again which was our former support. Guessing 24-28 Litoshi is support. That's 1Satoshi, so that will still be nearly a 100% gain from the former support. |
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why the price dropping so much , are we still heading to btc or what
We are still trading in BTC on bittrex.com, although very light. The markets on both Mint and Cryptsy are under their control. They will eventually open a BTC market for KARM when they feel there is enough volume and a bottom average price. My guess is we won't see BTC market on Mint or Cryptsy until we are close to 200 Litoshi, or 1/20th market cap of Doge. I personally don't see why we aren't worth 1/10 of Doge. We have just as strong of a community as they did at the end of last year, and frankly, we have bigger plans than they do currently. In terms of how Mint and Cryptsy view LTC, they get to charge a transaction fee twice since most people aren't buying LiteCoin with fiat. So there is a double exchange to get to KARM. |
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wow...someone is really trying to manipulate the market on Mintpal today
It's nothing - Look at the sell orders - There is nothing substantial in the way until the 70s. All we are seeing now is weak/foolish hands dumping their insignificant bags for less than they paid (most likely) because they want to buy into another pump n dump or are just too damn shortsighted to see why this coin is the one to be in. Forget them. There measly <10 Litecoin sells really don't matter. The fact that the buy order list is weak is simply because people realize that if they want to get Karma in any significant volume they have to remove their buy orders and let people panic sell. If I for instance wanted to buy another 250 Million I would have to place buy orders all the way up to 40 and it would still have the effect of pumping the coin and result in my orders not filling. See what I mean? The best solution therefore is to remove all buy orders and pounce on individual low ball sell orders in order to accumulate. Just wait it out. When they have got all they need it will start to pump again. There just aren't enough coins available at these prices for us to stay here. As you can see by the order book, most aren't even thinking of selling before 70 Litoshi and even then most of those orders would be pulled as soon as we get close. Exactly, no one is dumping, just some small hands selling, probably miners. |
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you guys should consider working with the Digibyte devs to implement Digishield in place of KGW for karma, since it is made to withstand huge attacks from multipools, and help individual miners earn more. just a thought
Good idea, thanks for the suggestion. |
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We would like to announce the release of the latest Windows version of Karma, version 0.8.6.2.5 .This version uses to the latest version of OpenSSL, You can download it at http://karmacoin.me/wallets/windows/Karma-v0.8.6.2.5.zipThe Mac and Linux versions will be released shortly. Please backup your wallets.dat file before installing. This file is located in your %APPDATA% folder. (You can perform a search for %APPDATA% or go to C:\Users\[USER]\AppData\Roaming\Karmacoin For those who prefer to download from Cnet, it will be published on 04-27-2014. (We will provide a link from the Wallets page of the Karma site) Sweet! Seems to work great. Just a small notice if anyone is scrathing their head about missing coins after installing the new wallet:Since the namechange from Karmacoin to Karma, this wallet will create a new folder with a new wallet.dat in %AppData/Roaming called Karma. Simply copy over the wallet.dat from the Karmacoin folder into the Karma folder and all coins will be back. AWESOME!!! |
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It's about time someone with an actual legal background in Company Law and the Law of Contract set the record straight. The whole premise behind a limited liability company is that shareholders can ONLY lose that which they put into the venture. If you put in $100 and the company goes completely bust (unlikely given the outstanding new devs and the 4 revenue streams they have so far) then you will only lose $100 - your liability is limited. Rule #1 in Company law is that the shareholders cannot be chased up or made IN ANY WAY responsible for the debts or liabilities of the company. In this situation we are not even shareholders as there was no offer of securities to the public - we are handing over Karmacoin in return for a share of profits. It is a contract between you and Kosmost with full legal effect. The only person who could possibly be sued is Kosmost and ONLY by those who invested Karmacoin and ONLY if he failed to pay out the share of profits as agreed in the contract. I for one have 100% confidence in Kosmost, he is a smart man who has done a heck of a lot and invested much of his own money into this. It would be nuts to break the contract when by upholding his side of it the company can operate into the future making more and more money for all involved. The reason we cannot be shareholders in the company 'legally' is because we would need to supply ID and sign documents etc. - No one wants nor needs to do that - that is why Kosmost has presented it as a simple unilateral contract. The offer (to the whole world) is that "If you send Karmacoin to this address I (Kosmost) will guarantee you a share of the company's profits each quarter by the formula in the spreadsheet". The contract is unilateral because the acceptance and performance are completed at the same time and ONLY KOSMOST has any obligation (Unilateral = One promise being exchanged). By sending Karmacoin to the specified address you are accepting the offer made by Kosmost AND performing (supplying consideration) what is required for the contract to be binding. The contract is legally formed and enforceable at law from that moment on. If Kosmost did not pay out in accordance with the formula he would open himself up PERSONALLY (as the named offeror) to proceedings for damages by those who were not paid. Furthermore, only parties to a contract can make a claim on that contract (Contract Law Rule #1) and as the contract is unilateral (only one party has any obligation - i.e. You have no obligation to send Karmacoin to the address, but if you do then Kosmost is obligated to pay you a share of the profits in accordance with the formula as per the offer) the only person who can make a claim on that contract is YOU. Not some third party who doesn't like Karmashares, not some moron who thinks he can take back control of a public domain cryptocurrency he left for dead weeks ago, and certainly not anyone thinking they have some form of intellectual property rights in any material used - They do not - Once creative works have entered the public domain (includes the person who made them posting it on a forum) it is considered as being made open to the public and they can never be claimed to be 'copyright' or 'patented' again. For example, the reason Coca Cola guards its trade secret of the ingredients in Coca Cola so carefully is because IF someone did manage to get their hands on it and upload to the internet it would be worthless and would enter the public domain - every one could LEGALLY make exact copies of Coca Cola and there would be no remedy available to Coca Cola to stop this from happening. Another example, lets say I invent a new widget, I upload the specs and plans for that widget onto a forum and say "check it out guys! Look what I made!" - Someone then takes those plans and patents them. Bad luck pal! That is how the law works - you no longer have any claim to those ideas unless you can claim they were shown to you in circumstances importing an obligation of confidence - release on a public forum does not satisfy this and therefore more fool you for letting everyone have free access to your idea. To sum up - Karmagood is woefully off in everyone of claims. He possesses no legal understanding of neither Contract or Company law and it shows. Of note, he continues to refer to himself as 'We' - trying to make you think there is more than one person involved in the opposition to this idea. Please see what is being said by him for what it is - nonsense of the highest order. I implore you to Google "Basic principles of the Law of Companies" and "Basic of Contract Law" and perhaps even "When is a promise enforceable?" and just put your mind at rest by verifying everything I have written above. Pay no attention to Karmagood from this point forward, he has been cut out of the loop of a project he deserted through his inaction and unwillingness to be engaged with the community for weeks on end along with his general ineptitude. He has absolutely no power nor rights in relation to Karma. You DO NOT open yourself up to any liability by sending Karmacoin to the Karmashares Ltd. address - anyone who says otherwise is, pardon the expression, 'talking out of their ass'. Have a great day all and lets get behind Karma as a community once more  Please post this, if you already haven't, in the KarmaCoin sub. it's perfectly said. |
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When did Karmacoin launched?
Feb 4th, 2014 |
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Does anyone have a solid calculation for Karma in terms of, when it becomes more attractive for the mining-pools to target? Is it when the profitability reaches that of LiteCoin's or some of the others Scrypt's?
i did a rough work out last night and it already is more profitable than mining litecoin, even though coinwarz doesnt compare us as we are exchanging to LTC and not BTC.. if you use http://www.coinwarz.com/calculators/karmacoin-mining-calculator to find out karmacoins per day and then use current exchange rate to see how many LTC per day u can earn.. then compare that to http://www.coinwarz.com/calculators/litecoin-mining-calculator you'll see that it's better to mine karma.. add on to that the fact everyone thinks this is gonna rise a lot soon then it's certainly making sense to me to mine karma.. i just wish i could get my head round this karmashares thing as i dont really get it at the moment Basically its a company that will take in Karma instead of fiat, as investment. It will promote the utilization of Karma through various projects and revenue generating avenues. As the community grows and the coin value goes up, those Karms invested will also grow and can be utilized for the betterment of the community. The two will remain 100% separate but work together on the same goals. Its very difficult for an open source community to engage the business world directly. You can't have three local BitCoin enthusiast, whom are highly regarded in their own bitcointalk threads, show up at the school board meeting trying to sell them on a program to teach children about crypto-currency. Even though crypto is here to stay, and it should be promoted in this manner, you need a real business model to promote it and get it utilized by business and the education system. Sitting around investing in various coins, hoping that their new additional widget is going to make them money in the long run is the old model. Get in early and keep your fingers crossed. Karma intends to break that mold by staying mission driven to do good, but also energize this space with a real business model. Those that invest get extra quarterly profits and also split any revenue generated from the sale of any of the projects. Those that do not invest, also benefit from the fact that KarmaShareLLC is promoting the use and marketing of our coin into new arenas. |
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Good guy kosmost  |
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