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Author Topic: ∞ GOOD ∞ Announcing the ICR (page 11) ∞ New Name (page 11) ∞  (Read 11121 times)
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June 16, 2017, 06:22:00 AM
 #1








Where to Buy Good

GOOD/BTC
https://www.coinexchange.io/market/GOOD/BTC

GOOD/ETH
https://www.coinexchange.io/market/GOOD/ETH

GOOD/DOGE
https://www.coinexchange.io/market/GOOD/DOGE


Other Markets
Ether Delta: etherdelta.github.io/#GOOD-ETH deprecated
more to come!


Website and Facebook
http://www.goodkarmacoin.com
http://facebook.com/GoodKarmaCoin


Slack/Discord
Coming July 25th


GOOD ERC20 Token Contract Code

https://etherscan.io/address/0xae616e72d3d89e847f74e8ace41ca68bbf56af79#code


Total Number of Coins: 888,000,000 verified limit
https://etherscan.io/address/0xae616e72d3d89e847f74e8ace41ca68bbf56af79#readContract


GOOD Block Explorer
https://etherscan.io/address/0xae616e72d3d89e847f74e8ace41ca68bbf56af79



Please note: This is respectful forum. It is "good karma" after all. Posts deemed to be "bad Karma" or disrespectful to other members or the community as a whole will be deleted, as well as irrational conjectures, inflammatory statements, false accusations, posts without content, and other improprieties that can normally be found on Bitcointalk. Continued abuse will be reported to the system moderator.

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June 16, 2017, 06:22:29 AM
 #2

FAQs

You didn't invent the ICO. Come on!

Somebody did. And it just so happens it was me. I conceived of it in March 2014 for the old Karmacoin (through a new entity called Karmashares) and we launched on April 18, 2014.

Although MaidSafe and Mastercoin both held 'crowdsales' before then, they were not ICOs. Crowdfunding is merely a method of fundraising, whereas an ICO raises coins for both capital and as a representation of ownership interest in an enterprise, like a  digital stock certificate. We referred to the new model as POC (proof-of-coin, to secure the coin's economy) and IPOCOs (Initial Public Offerings for COins, for subsidiaries or derivatives). In fact, we even had digital certificates: https://goo.gl/XJ9yVh to go along with our list of owners http://web.archive.org/web/20140626124054/http://karmashares.com:80/explorer-v01 as well as bonus periods for earlybirds. We also reached out to other coins like ReddCoin and the broader cryptocurrency community to consider the same kind of model.

I have been, however, trying to get people to consider the difference between the two terms: https://www.reddit.com/r/ethtrader/comments/6lbo1v/as_the_guy_who_invented_the_first_true_ico_i


So why isn't this an ICO?

You'll notice that most legitimate ICOs today do not allow anyone that lives or resides in the US to join in the distribution. What's not being considered is that the people running the ICO should not be US residents or citizens, either. It is likely to constitute an “investment contract” by the SEC per the US Securities Act of 1933 as thus fall into the domain of an unregistered security. It is the reason I shut down Karmashares.

Until the SEC changes their guidance on securities and equity derivatives in favor of ICOs, I won't even think about it (and advise others residing in the US or who are US citizens not to, either).


Why Ethereum? Is it a good idea? Why not like most other coins?

We are going where the big money is going, as part of our future plans:
https://bitcointalk.org/index.php?topic=1969334.msg19793618#msg19793618


No mining? Where do the tokens come from? Who profits?

Good Karma is based on the Ethereum platform as an ERC20 contract, so there is no need for mining to support the health and security of the token.

ERC20 tokens are deployed from the contract itself, either in an automated way or via an agent following a release schedule (in this case, the developer). Any Ethereum received in the exchange goes directly to the Good Karma contract -visible on the blockchain- and is used as capital to increase the token's utility as well as expand its economy. Although the developer has done pioneering work on ICOs in past, he believes that this method of raising capital on an as-needed basis spread out over many years is far more effective, not only allowing Good Karma to keep a close eye on costs but also to sustain growth long after similar ICO-backed companies have burned through funds.

Although some companies that raised capital through an ICO sale have become "successful" it is easy to assume that these companies are doing well because of their market capitalization. However, their valuation is based on the value of coins that flow through their network, not the value of the company behind the coin. This network valuation may be confusing for some when considering which currencies to invest (or speculate) in. Some of the most valuable altcoins don't have any real money for growth and, thus, most likely will not be able to expand as rapidly as those who are cash-rich (such as Ethereum, who issued about $800m worth of Ethereum to its foundation before their ICO, in today's value). Good Karma is more business-wise, seeking to operate just as some of the most successful corporations in the world would, all the while helping people to do good things for each other.

Note: If you are uncomfortable with capital being raised in such a way to grow the GOOD economy and the value of the token itself, please do not invest.


Isn't there already a "karma" coin?

https://bitcointalk.org/index.php?topic=1969334.msg19644261#msg19644261

Yes. After the developer abandoned the coin in 2014, several members of the Karmacoin community banded together to rescue the coin. The developer of Good Karma was the project lead for 5 months, taking Karmacoin to a high of +3,900% since he had taken over the project. Since then, Karmacoin has suffered theft of its two largest wallets (from now-defunct exchanges) and a massive oversupply of coins. That, coupled with over-generous mining rewards, have severely depressed Karmacoin in the marketplace. Making a fresh start to realize the potential of "doing good" via the karma concept, Good Karma was born.


Who is the Developer?

A Canadian inventor, entrepreneur, founder of multiple successful startups, and project lead for Karmacoin in 2014 (taken over from the developer, who abandoned the coin). Through his leadership, Karmacoin became the first coin to be revived, was among the first coins to successfully switch algorithms, the first to provide detailed project plans and a schedule to the community, the first coin to allow the community to vote on matters, the first to incorporate and run as a business, the first coin to hold an ICO issuing 'sharepoints' for Karmashares and sub-entities (IPOCOs) and inspired other coins to consider the same "proof of coin" model that has evolved into the modern ICO, was one of the very first cryptocurrencies to issue press releases, among the first to apply for a trademark, the first to offer a contact number on its website, the first to schedule a conference call with coin-holders, saw a coin price high of 3,900% more than at the beginning of his leadership, and many others milestones.
 
From our website: "The Canadian founder of Good Karma knows a thing or two about both community and business. An entrepreneur from an early age, he has also worked for some of the biggest companies in the world, including Leo Burnett, Energizer, Thompson, KPMG, Unilever, Proctor & Gamble, and others. At age 20 he was the youngest executive in the history of the largest financial public relations firm in the US, reporting directly to the board of directors of Fortune 100 clients such as EMC and others. During the time he served as a volunteer English teacher for immigrants he was also the sole project manager for the City Colleges of Chicago's 'Year 2000' project where he was responsible for auditing 27,000 PCs, workstations, and servers across 19 locations with a team of 30. Afterwards, he served as a community organizer and leader before moving to Hong Kong and starting several multi-million dollar internet businesses from less than $200 of his own investment capital. He cares deeply about humanity and is committed to bridging the chasm between new technologies and traditional social values."

More to come...



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June 16, 2017, 06:22:41 AM
 #3

(reserved)

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June 16, 2017, 06:23:15 AM
 #4

So what's going to happen with the old karma?

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<CRYPTO-ALERT> David Mah, CEO of Wagerr.com LTD Just Sent Me An Email That Got Me Worried!
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June 16, 2017, 07:23:12 AM
 #5

So what's going to happen with the old karma?

That depends on the efforts of the original community, actually. Also, the current moderator of the thread (and former team member) would need to make changes, organize resources, and move things forward.

I have posted a more in-depth reply at https://bitcointalk.org/index.php?topic=579973.msg19590981#msg19590981

Please let us know if you have any questions or concerns. And thanks for visiting!

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June 16, 2017, 10:10:34 AM
 #6

 Grin will be the new good plan

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June 16, 2017, 10:44:49 AM
 #7

is there any bounty for this coin ?

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June 16, 2017, 12:34:17 PM
 #8

I'm not much into the original Karma coin, but I have a simple question: Why is there a need for a new Karma token and how is it *significantly* different from the older one?

Certified Procrastinator. In the long run, everyone is dead.
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June 16, 2017, 12:52:30 PM
 #9

sad to see that the previous attempt of making karma to be known was unsuccessful now its needed to be rename or re-brand what about those karmatoken what will happen did you settle those coins or it will be forgotten since another dev is working on it?

Hi. Karma classic is still on-going, as noted in the second sentence in the first post of this thread.

The fundamental problems with Karma are 2-fold: too many coins, and too many bad coins (coins that we stolen from exchanges, and also ones that the original developer mined unfairly at the beginning). There are other important barriers, as anyone who has been following the thread can attest, but we won't get into that here.

This is a place for good karma Smiley

The KarmaToken was a side project by a former team member. It allowed the exchange of both good and bad coins (of which I estimated the majority of coins swapped for the token we stolen from one or more now-defunct exchanges). I believe that is also still on-going, though there isn't much activity in the thread.

Hope this answers your questions. Thanks for giving me the opportunity to clarify some of that.

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June 16, 2017, 12:55:38 PM
 #10

I'm not much into the original Karma coin, but I have a simple question: Why is there a need for a new Karma token and how is it *significantly* different from the older one?

As noted above, the token was a project by a former member of the team. Most of the coins used in the swap, it seems, were stolen from one or more exchanges. (Our main exchange was MintPal, followed by Cryptsy. Both wallets are now in questionable hands. About 30 billion coins, or nearly half of the old Karma's value)

But more importantly, the purpose, direction, focus, and leadership of the two are very different.

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June 16, 2017, 01:08:46 PM
 #11

is there any bounty for this coin ?

I'm not sure about that but let's see after it's released. What did you have in mind?

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June 16, 2017, 01:24:34 PM
 #12

Is this karma Token KTN?  http://coinmarketcap.com/assets/karmatoken/
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June 16, 2017, 01:29:13 PM
 #13


I believe so, though don't know much about KTN since I didn't have anything to do with it.

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June 17, 2017, 05:39:23 AM
 #14

I am happy to report that the code is now finished, compiled, and deployed. It is open source and will be viewable by anyone on the Etherscan website.

Next stop.. exchanges!

I'm also working on the website and instructions on how to use the wallet

Then, I'll update the OP with some additional info, links, etc.

Then, I will draw up a more complete road map.



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June 17, 2017, 07:26:34 AM
 #15

How about the karmacoin in market alcurex and yobit? Whether in swap for new karma


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Eric pink
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June 17, 2017, 07:31:23 AM
 #16

If you need Chinese translation, reserve
kosmost
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June 17, 2017, 07:45:36 AM
 #17

How about the karmacoin in market alcurex and yobit? Whether in swap for new karma

Hi. The Karma classic (X11 algorithm) community is working on an updated wallet, whereby you should be able to swap. But you'll have to follow that thread in order to see about progress.

This is a 'fork' of Karma with a different blockchain (Ethereum), not directly related to Karma classic.

Please let me know if you have any other questions. - Thanks

Good Karma ["GOOD"] token here ∞ Rewards for customers of 700,000 retail stores in the US and millions more around the world
kosmost
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June 17, 2017, 08:44:29 AM
 #18

A look back on history...

Seeing the mtgox price at $2.75 has got me depressed, wishing I'd bought coins back in December.

But it has me thinking - what is the average cost, today, to create a bitcoin? I know it can't be anywhere near $2.75.

We'll see what we can do to match Bitcoin's phenomenal growth  Cheesy

Good Karma ["GOOD"] token here ∞ Rewards for customers of 700,000 retail stores in the US and millions more around the world
Tara11
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June 17, 2017, 09:16:31 AM
 #19

As for old karma dev wanted to fair distribution I think. That's why he sent me 500000 karmas. Then I went to social media asked people to give me karma wallet address for giveaway but nobody bothered taking them. Back then nobody cared to getting free karmas. This time we will succeed I think.  Cool

Edit: What's the difference between coin and token?
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June 17, 2017, 10:14:22 AM
 #20

Airdrop?

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