Goodomy [GOOD] - Launching May 24, 2018 // From the creator of the first ICO

[kosmost]

We all expect something positive in this thread. We believe in a time when karma will get better with a better future (Good Karma)Good luck with Good Karma

Thanks, huu. We're just getting started. The future is bright, indeed 

[kosmost]

I like the positive vibe in this thread. Good luck with Good Karma. I just invested some via coinexchange.io Can you give a estimate time about the release of the road map and some more details about the future of Good Karma?

Welcome, and thanks! The road map and additional details will be released when the GOOD market at CoinExchange becomes more stable and has more volume, or July 20, whichever comes first. Although there is still some price manipulation going on because of the low volume currently it's not as bad as on the previous exchange where there is no order matching, among other issues.

If there are any ideas you have for Good Karma please let us know and it will be considered.

still on schedule!

[EdgarJohn]

still on schedule!

Thanks for the update. GOOD to see the topic is open again. I see the buy support for GOOD / BTC Market is slowly growing. GOOD things takes time. Looking forward to the roadmap and additional details release.

[cryptaxo]

hi,if need Chinese translation, I will also maintain Chinese thread with updates and replies. The Chinese market is the biggest crypto market in the world. I can also start threads in other Chinese websites on this topic. please PM if interested.

[kosmost]

still on schedule!

Thanks for the update. GOOD to see the topic is open again. I see the buy support for GOOD / BTC Market is slowly growing. GOOD things takes time. Looking forward to the roadmap and additional details release.

Thanks. Slow and steady wins the race!

(but of course we won't be that slow)

[Aetrader]

To future spammers and/or those who are quick to scream "scam" without understanding much of anything:

1. no this is not Musicoin. Musicoin is run by a non-profit organization that gives 100% of coins to miners. Good Karma is not Musicoin and nor would it want to be.

2. try to understand a bit of how tokens work before you proclaim something is a scam. Each token is different.

3. yes, I will delete your posts if you do not follow community guidelines. Without hesitation. Please read the bottom of the first post as well as the top of every page. "This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic."

4. you cannot call something "a scam!" because I "....deleted my post without reasonable explanation". Again, please re-read the first post. This is not a free speech zone, just as you cannot yell "Fire" just because.

5. yes, I control the account that holds almost half of the total supply. It's the way tokens work. Each token has their own specifications. The account holder for Veritaseum, for example, still hasn't issued 98% of tokens. Again, it's not Musicoin. If you don't like it, there are plenty of other tokens and coins from which to choose.

Unfortunately, I'll have to pursue legal action if this post is not removed. It constitutes defamation: https://bitcointalk.org/index.php?topic=2012485.0

What's the comparison to Musicoin?

Also, I surmise that the project is one 1 person as of now (which is fine), but can we at least know who you are?

[joelabrute]

Hi i'd like to buy 1000000 token for $0.0005 each . Is somebody interested to sell it ?

the price on the exchange are too expensive to me and there is not enough volume to make a correct transaction .

Thanks

[gunmaster217]

Also, I surmise that the project is one 1 person as of now (which is fine), but can we at least know who you are?

It's on the good karma website who he is.

[kosmost]

What's the comparison to Musicoin?

That's what I wondered, also.

Also, I surmise that the project is one 1 person as of now (which is fine), but can we at least know who you are?

Correct. Other details will be provided as the project progresses. For now, my bio is in the second post. Let me know if you have any other questions.

Thanks

[kosmost]

The Good Karma roadmap, business model, and ICR announcement is scheduled to be released on July 20th.

Thanks for your patience!

[kosmost]

Updates today, as discussed. Thanks for your patience!

[kosmost]

The Good Karma roadmap. (Also posted to the OP, for your convenience.)

[kosmost]

The Good Karma business model (more or less)

[kosmost]

Please note that I am also debating whether or not the name 'Good Karma' should be changed to "Goodomy" (with the same ticker symbol).

One interesting issue that was had at the old Karma coin was that it somehow attracted, shall I say, "interesting" characters. Having been involved in other coin communities, this seemed odd to me. Another community member and I speculated that Karmacoin attracted so many ill-intentioned persons (that also led to more than half of total supply being stolen) simply because of our natural subconscious associations with "karma" and similar concepts. (If Google's search results are anything to go by, there are about 20% more results for 'bad karma' than 'good karma'.) Silly to think about, perhaps. Or not.

While changing the name to disassociate with both "karma" and the old Karmacoin seems a bit superstitious to me, it is under consideration. Alternatively, "Goodomy" is being considered. This would also align more with the main service (Shopomy) and enable more consistent branding.

It's also a homophone of the phrase "good of me", for whatever that's worth.

One other issue with the name, "Good Karma" is that it would be hard to find and rank in search results, as there are about 444,000 exact matches on Google. Goodomy would be far easier to rank well, in comparison (as would Shopomy).

More details about the distinction between Goodomy and Shopomy as we progress, but you may be able to tell from the road map or model that Goodomy is more business-facing while Shopomy is more consumer-facing.

[kosmost]

Note that this topic will continue to be locked until https://bitcointalk.org/index.php?topic=2012485.msg20263763#msg20263763 is resolved with the poster agreeing not to post (as I have asked, due to me having to delete 12+ "scam!" messages).

Alternatively, a Discord channel can be set up. That does take some time to manage of course (which is time I'd rather spend adding value) but I do want people to continue to ask questions and also get some feedback.

For now, you're welcome to send me a PM and I will post the reply here, or you can also send me a message on the Good Karma website. unlocked (and still unresolved).

Thanks

[kosmost]

Great that you completed the roadmap and business model on the pre-issued date. It gives confidence in this project.

GOOD to see that you included A/B tools, test functionality and user testing, End user feedback is essential for succesful usability.

How can I sign up for user testing? I do it for my profession and like to do it.

Based on the business model I see that thought GOOD about it and guess you spent a lot of time on it. It makes this a interesting project to follow.

Can you give some info about a Slack or Telegram channel as well? Furthermore I'm interested when you are planned to spend more time and attention on marketing trough social media channels like the existing Twitter and Facebook channels. And last but not least when are you planning to get listed on more exchanges?

My personal preference goes to Goodomy. It sounds great, from a strategic point of view unique and easier to find as you say yourself. In addition it's fresh and makes this project more unique, regardless of the previous project which also includes the name Karma. "good of me" makes it also more personal.

Thanks so much for your comments. Yes, user feedback is essential. Really it's all about what users like, not so much what the developers like personally. Personal preferences only get us started but after that the people that will actually use the product/service give us important clues as to how to evolve.

Once we have the alpha ready then we'll ask for testers from the community. I'm happy that you'd like to volunteer!

Marketing is also essential and more focus will be on this as we progress. Much of my background is marketing but at this point it may not make sense to have momentum build without something that can be used now (hype around ICOs notwithstanding). Hype certainly adds to the coin price, so I understand that aspect as well. However, once the services are in place any perceived 'losses' due to lack of hype at this time would be negligible. This also provides people ample opportunity to observe and consider.

For communication, I'll probably set up a Discord channel. However, I won't have much time to manage it so may wait a bit on this, unless someone would like to volunteer to moderate.

[BitJoker]

Hello, will GOOD be added to other exchanges? When? Meybe this will help to increase daily market cap and number of transactions? Thanks.

[kosmost]

The Good Karma roadmap. (Also posted to the OP, for your convenience.)

This is not a strict timetable, so it may change somewhat. If you have any suggestions or ideas please let me know. Thanks!

[kosmost]

Regarding the choice between Slack/Discord, etc., does anyone have a preference (and why)?

Personally, I prefer Discord because it's robust. Slack's interface is a bit inefficient in my opinion, though it seems quite popular. Discord is also free and has more options. Telegram is more of an app, which I would not personally use (as web interfaces allow me to get more things done, faster).

Any ideas?

[kosmost]

Announcing the Indefinite Coin Repurchase (ICR)

In 2014 I introduced the ICO to the cryptocurrency space (for Karmacoin). Today, I bring you the ICR.

What is an Indefinite Coin Repurchase?

An Indefinite Coin Repurchase (ICR) is a strategic program that token enterprises can use to reward those who already own tokens. Whereas tokens are purchased directly from an enterprise at a fixed price in an initial coin offering (ICO) in hopes of future gains, in an ICR the enterprise uses its profits to buy tokens back from token holders, rewarding them in the present.

While profits from an enterprise cannot legally be distributed to token-holders in the form of dividends in the US, per securities regulations, those same profits can be used to benefit token holders in other ways. The way that most benefits token holders may be an ICR.

With an ICR, a significant portion of profits - or even all profits - from the business will be used to buy back tokens from token holders either from exchanges or by allowing holders to tender their tokens directly to the enterprise at a fixed price, a kind of reverse-ICO.

What are the Benefits?

An ICR would reduce the number of tokens in circulation, potentially elevating the market value of remaining tokens held by the public. It will also prevent the enterprise from hoarding cash and cryptocurrency, an ongoing problem with ICO companies.

Also, whereas an ICO can only be done once, there is no limit to the number of ICRs that can be done for a token.

Why is it "Indefinite"?

To help mitigate market manipulation, the number of tokens that will be bought back and the amount that will be spent to buy those tokens will only be announced after the fact. However, when an ICR is announced for a token the timeframe for the repurchase should be announced as well. To voluntarily comply with SEC guidelines regarding stock repurchases (if the same was applied to tokens), tokens would be purchased from a single exchange during a single day.

There are some potential legal issues with ICOs. Could there be issues with ICRs?

Companies that issue shares may already have ongoing share repurchase programs, which is perfectly legal. SEC rule 10b-18 provides guidelines for share repurchases so companies will not be deemed to have violated anti-fraud provisions of the Securities Exchange Act of 1934 if the repurchases fall within the four conditions of the rule (manner of purchase, timing, price, and volume considerations).