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last part probably added by me. but "i will be %100 with karma" you have said it many time.
i am not going to be holding you up for it in case you do change your mind. i am not going to come after you using that to base my accusations.
Well, as usual. I am still here, doing what I can. How do you think Karma should proceed for the next 6 months? It would be interesting to hear everyone's ideas. There has been a lot of interesting and forward thinking ideas coming from Karma. I am not as invested both financially and emotionally as some/most here so my thoughts are to be taken on that basis. At this point it is my opinion that the big ideas about changing the world are tantamount to running before you can walk. Although an admirable philosophy and one which should be pursued in the future, this philosophy cannot be achieved without some kind of adoption by people in the developed world. In the first instance I believe a push should be made to make Karma the mainstream twitter and facebook tipping currency. The name is perfect and no tip bot has made it out of the crypto circle and into the mainstream yet (Please correct me if I'm wrong about this). All community efforts should be put into this exercise for the coin to gain some traction. A huge push by the community to get Karma out there to people and organisations, fan pages etc should be made. This would involve a huge giveaway by those holding lots of coins but at this point I see it as the only hope for the coin to survive. Why hodl millions of coins if they are worthless? I've been absent/out of the loop/computer down for give or take 2 months. Surprised to come back and find all this but it's all done now and I'm not even interested in going back to read through whatever drama occurred. This idea though, sounds reasonable. The problem with anything like that is that the recipient has to "Accept" the app's access and many users either auto-decline or ignore those requests altogether. At least the ones I know. Maybe it works for the masses though, we all know there's a ton of folks that play every Zynga game that comes out. Here's a list of the top social sites, you can sort by registered users, I'd probably suggest starting with one that's easier to program for at first before blowing our load on the big boys like G+ and Fbook. But I don't know advanced programming so I don't know if any are 'easier'. http://en.wikipedia.org/wiki/List_of_social_networking_websitesWhat path did Bitcoin take to success? 3-4 years from creation to mainstreaming is pretty quick. Nothing wrong with a little plagiarism of a successful business model. |
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I've been mining Karma since the beginning, with my laptop...upgraded to a r9 290, then added 2 more  Finally going to get an Asic, even if Karma switches...Tutorials for x11 sound good cause i ran outta time a few months ago  My question, is, multi-algorithm out of the question? Love Karma, and the plan i see. And yes, this is my first post...I'm more of an observer...good job guys Daeben! I remember when you & I were the only miners worth a hash on the Xhash mining pool (TeamArmstrong). I've since fell off due to real world computer issues that have severely limited my mining capabilities so I'm trying to supplement every once in a while with eBay purchased mining contracts until my new PSU arrives (Corsair shipped it yesterday so hoping to be up by this weekend). |
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This is good for all cryptocurrency: http://www.cnet.com/news/bitcoin-gets-buy-in-from-newegg-the-tech-focused-retailer/Aside from Dish Network (Satallite TV) now accepting Bitcoin by their customers to pay their monthly bills, Newegg.com just announced Bitcoin acceptance (hence the recent bump in BTC/USD). Anything which gives cryptocurrency legitimacy to the layman is also directly good for all coins. :-) Also, just curious what the recent explosion in Karma can be attributed to? I can tell there is a good community here and am happy to now be a part of it, but was there some press release announced or something which alerted more people to Karma? It makes sense that Karma would eventually increase in value, just trying to determine why yesterday was the day it did so. Thanks! Yesterday was the day it moved back to a BTC pairing on the Mintpal exchange which brought with it a lot of rush. There were some announcements last Friday but not the same effect, price-wise. |
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I checked KarmaShares donation adress, there has been almost none Karma to KarmaShares exchanges last month. I know, this project can be huge, but holding Karma is much saver right now than holding KarmaShares. Since people can switch from Karma to Karmashares anytime in future, but can't trade KarmaShares to Karma, KarmaShares are currently not atractive. They should be either timelocked, like people can trade Karma to Karmashares like max next few months, or they should got less and less shares in future. Right now, it is stupid to buy Karmashares, it just locks you money. People will hold Karma and wait to find out if KarmaShares are profitable. If we want people to help the project, they should own KarmaShares, not Karma only. Trading KarmaShares or Making KarmaShares more and more expensive compared to Karma is the only way, how to push them to buy KarmaShares. Since karmashares can be bought only by Karma, it will force them to buy Karma and push the price up more. More value Karma has, more people will know about it, more interest will come. So I definitelly think, Making KarmaShares more atractive than Karma will help whole project a lot.
Not sure if it changes your perspective, but the timeline to actually purchase Karmashares passed long ago (the same weekend my computer flipped out on me so I missed the buy-in). So you shouldn't see any transactions to the Karmashares donation address. Holding 10M Karma in your wallet will entitle you to a Karmashares % but I'm not entirely up to date on how that process works if it's quarterly to mimic a corporation's quarterly holding reports or whatnot. |
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Somebody tries to dump and to lower the price. Have doubts that its going to work.
Well, it worked for now but just gave me a lower BTC entry point. |
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What is PITA again? PITA = Pain In The Ass Generally I fall into that category as well when playing devil's advocate. |
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EDIT: After looking deeper into this issue... I think I know what going on... The blockrewards didnt go down too 35000 on chunkypool... (the pool said all blocks were 110000) and since every block only counted for 35000, that means his pool wallet running short on KARM.... Just a thought though  Good catch. I just checked Xhash and their pool info does show the updated block rewards however their Bitcointalk hyperlink still points to the old Karmacoin announcement. Anybody know how to contact that pool operator to update it to this thread? |
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Why would anyone buy a nxt clone, if you could buy original? What dies it offer over first Gen?
You could insert any clone coin in this question really. The way I see it, as most all of them are open source it has led to many talented individuals (and some scammers) to clone a coin and promise a new innovation on top of the original that would make it better in some way (and for the promise of making loads of money after the coin exchange rate increases dramatically). In some instances, it's a clone with the new flavor of the month tech aspect. I personally think the crypto community would be better served by having these talented individuals with innovations team with the developer of an established coin and add on to the existing structure rather than create a MyNewCoin v2.1. The proliferation just dillutes the arena, deprives established coins of needed talent to grow, and causes a perceptive hurdle for outside investors/newcomers. |
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PoS makes sense if these were investments. How does it help these become currencies? If it simply benefits those who hold coins, it would create artificially scarce environments where the price would go up.
not every investment vehicle is a currency. You dont buy eggs and milk with MSFT or GOOG or APPL. Nothing wrong with giving a dividend to coin holders, its the reward for taking on risk, and securing their respective network. I keep hearing this "store of value" statement about various coins but would have to disagree. The reason GOOG or APPL have value is that they represent a portion percentage of an actual corporation that earns revenue. Gold/Silver/Metals have practical manufacturing uses which drive their value. A cryptocoin that simply has no function other than a "store of value" doesn't seem very valuable to me, just more hype and justification for the lack of marketing/development to make it a useful commodity. |
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here is what ASIC are doing to the community so far. they are too expensive for a little guy to get an ASIC strong enough to compete with current hashrate. Not to mention never even ROI. So unless you spend over $10,000s you will not make it. This creates a harsh centralization of miners. Only the big boys win the game and makes is less appealing for little guys.
Look at our pools. our miners were getting thinner. probably since scrypt was running too hot on summer. The moment Karma rises , all the asic users jump on our network. We go from 1.2 Gh/s to 3.4 Gh/s. Which makes the small time miners even more frustrated because of the high difficulty jump.
look at this way. if i have $2000 i can set up a 2-3 Mh/s GPU miner or a 20 Mh/s Asic miner. You can see the imbalance ASIC offer. Miners would invest in GPUS more because at least they can use it for games or sell it back with %50 gain. but with asic you have 1-2 months to make roi and then its worthless.
By going to X11 all the GPU miners will have few more months to mine the coin in fair game. By then the ASICs will be much cheaper and they should be able to afford to switch to ASIC.
Also China mines love x11. they will jump in and will start to create additional trading market in their side of the world. Maybe we will finnally break in their exchanges. Like Bter.com and others : )
Not to be argumentative, but worrying about ROI on coins with a current value less than $.0002 USD is shortsighted, right? Cryptocurrency as a whole concept is a long term process. More than half of the population doesn't even know what it is. If we're in it for the quick money that's a different story. Karma created the Karmshares, LLC for long term potential. The BTC players are already looking to 2140 to devise structures & processes to handle the end of POW. At some point, we have to quit being so anti-technology when it comes to a sustainable network infrastructure that's important for transactions to process. Ideally, the production of ASIC hardware reaches a point where the suppliers outweigh the consumers and then you see more & more new user entry into the mining side. Not because they're getting rich off of it, but because they're getting anything from it. Consider if VISA allowed home PC users to run a small USB item that would generate any type of additional income for a nominal startup cost and minimal expense. A penny saved is a penny earned, afterall. If you end the day with more money than you had previously you're on the right path. Certainly there's heavy users & light users, but it all counts in the end. |
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DRK is currently up ~500% in 20 days. I haven't thoroughly done the research prior but I am wondering what other coins have sustained these kind of gains and for how long.
KARMA has had a 2200%+ growth since April. In the Litoshi range, so not the same scale, but it has been gradual rather than the effects of a pump & dump situation. With the new announcements today it should see some additional growth as well. |
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So I've been reading up on the BTC model after POW phase ends and converts to a transaction based reward system. Just thinking I rarely see it mentioned for these "altcoins".
Are there any that have passed the end of their POW phase and are still functional? I know some were POS only so not sure if they count.
How does the network hash rate compare?
Transaction/confirmation times?
Transaction fees vs block rewards?
Are supporters pointing miners at the coin simply to keep the network active with no monetary incentive?
Just curious and it's hard to keep up with all the coins these days. Please don't flame me for not searching through them all effectively.
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Nice! Long time Karma supporter here (just not vocally on the forums, but a little over on reddit). I like the move to X11 from an energy efficiency viewpoint but it feels more like an anti-ASIC move. ASIC's are far more energy efficient than GPU's or CPU's so a combo of the 2 will be best for a sustainable cryptocurrency future. *disclaimer: I own no ASIC hardware, just offering my opinion. I also think the 2 year estimation for ASIC introduction to X11 is pretty far off. Considering DarkCoin is trading in the $10-$13 USD range and the popularity of other X11 coins I would expect it to happen sooner. Early next year if not the end of this year. Again, just my non-expert prediction. Either way, good news for now and looking forward to more mining. |
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If Mintpal asked for stable 150 Litoshi course for KARM, how much do you estimate the pair KARM/BTC ?
Based on current BTC/LTC levels the price would equal a BTC worth of ~2.5 satoshi. Recent trends (several spikes above 200 litoshi) would put price more in the area of 3 sat, selling cheaper than that would mean a significant loss compared to selling on the LTC market. At this miserable price of 2-3 Satoshi, I can't pay my bill for electricity ! Who will be insane to mine at lose KARM anymore? Is it just me? When I see comments like this I picture somebody mining and immediately selling and converting to fiat. Which does very little to further the progress of cryptocurrency as a whole. But I guess plenty of the users of this forum could be doing that as many showed up simply for the "easy money". |
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Glad it's not just me! I've become an RMA/store exchange expert these days. Tip: even if the store says they only make returns for 30 days you can always play dumb and bring something in later hoping to get that clerk that just doesn't care (saved me the hassle on a motherboard & 2 video cards once).
p.s. it is too fun.
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It is an arms race and will be very difficult to ROI.
I would buy bit coin outright.
I used the arms race remark in a conversation with a friend the other day. Buying outright means working at market value hoping for an increase in price. Mining direct means losing money at market value hoping for either a ROI or price increase. I somewhat see them as one & the same except they both have additional benefits. Buying outright also stimulates price exchange rates and liquidity of the coin, however, mining secures the network and introduces new coins to the overall amount distributed (not to mention distributes network hashrate). They're both good options, but mining can't be completely eliminated from the equation either. |
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What about a cloud mining service that does have a significant portion of the network hashrate?
That was my thought. Or a coordinated effort to target & seize multiple cloud minining operations at once. With the potential to disrupt financial systems comes the incentive for acts of terrorism. |
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2. Mining Hubs: speaking of mining hubs, GHash.io and the others all depend on physical hardware to do the mining. In the event the center is compromised or physical hardware damaged there's not much of a failover for this. Unlike data which can be backed up in a redundant data center in another city, these hubs are susceptible to many types of disaster.
Miners should have set up a few failover pools (easily done with cgminer or bfgminer), so that when the primary pool is down, the hashrate will be pointed to secondary pools automatically. So, problems on one or a few public pools shouldn't cause too much problem... I'm not referring to miners pointing their hardware to a pool, I'm referring to the large scale operations that are housing multiple mining hardware in one location. The farms that rent/sell hashing contracts and the type like the one shown in this video http://www.businessinsider.com/worlds-largest-bitcoin-mining-operation-2014-3. The one in this video houses 1 petahash of mining power. While it is a private venture, as long as the security & health of the total network relies on it then it's at least a concern of public nature. If the site was destroyed, taken offline for any reason, or even seized by force (whether governmental or otherwise) even insurance wouldn't be able to cover replacement of the FPGA's/ASIC's as they're perpetually on back order it seems. So, just to clarify, I'm not meaning folks should make sure they have failover pools listed in their mining scripts. Just that farms for mining are here and they'll do nothing but get bigger further centralizing the network power. Since hardware actually needs to be replaced rather than backed up somewhere it brings with it an inherent risk of failure. |
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I always wanted to see GPUCoin (GPUC) take off. The concept was unique and created value at the time. Now that GPU mining is on the decline it's probably less feasible and you're still tied to that name. Maybe if it was called MinerCoin with the same concept of exchanging your mined coins for more mining hardware (or selling so that others could buy in). Could've been done without a premine (not sure if it was) since the dev was running the online store.
I'll have to go see what's up with that coin now....I noticed it keeps getting votes on MintPal but that could just be some folks trying to get it listed so they can dump everything they have.
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Ya know, I'm with the OP on this. It eliminates premine and also eliminates the creation of new coins with no purpose. Reduce, reuse, & recycle, right?
Honestly, I would imagine it would take a bit more work to revive a seemingly dead coin because you have the uphill battle of changing perception and retooling whatever needs to be done. Then there's the issue with marketing the same brand under new ownership. But still, it should at least be seen as a healthy alternative to the development of a new coin with no function.
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