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Author Topic: [ANN][KARM] Karmacoin - New Initiatives - Helping People Do Good  (Read 349815 times)
ezvm
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April 20, 2014, 08:11:07 AM
 #4741



 Just sent my first 5 Mil to: K8rMbDnZ7xX9VqBXmLwA7DCnYra1ftw3gE
Will send more soon  Smiley

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kosmost
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April 20, 2014, 08:20:46 AM
 #4742

As the Karmacoin price continues to climb we've reduced the minimum buy-in to 5,000,000 Karma

You can now get shares with 5,000,000 Karma or more.

(Another reduction will be made when we hit 80 litoshi, to about a 2,500,000 minimum)

Here's how to buy

Goodomy [GOOD] – A new kind of crypto going after the mass market via Shopomy (a revolutionary new retail mining app for consumers and shops) and OTOL (enabling the 'action economy')
perhan007
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April 20, 2014, 08:22:33 AM
 #4743

Anyone else seeing a brilliant arbitrage setting up between Bittrex and Mintpal??  someone is selling 186M for 1Sat still on there!!  Someone is asleep at the wheel.  Free money available at Bittrex!!! Cheesy

I just wanted to buy some of the 186M @ 1 Satoshi but I cant see any offers??
One Six
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April 20, 2014, 08:28:59 AM
 #4744

Anyone else seeing a brilliant arbitrage setting up between Bittrex and Mintpal??  someone is selling 186M for 1Sat still on there!!  Someone is asleep at the wheel.  Free money available at Bittrex!!! Cheesy

I just wanted to buy some of the 186M @ 1 Satoshi but I cant see any offers??

Looks like its sold out https://bittrex.com/Market/?MarketName=BTC-KARM

Still cheap buy on Mintpal >> https://www.mintpal.com/market/KARM/LTC
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April 20, 2014, 08:56:40 AM
 #4745

ive just updated to the new wallet but it still says i need to upgrade or upgrade the nodes, does anyone have some updated nodes im stuck synchronizing at 7 weeks.  Sad

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spitfire1337
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April 20, 2014, 09:21:47 AM
 #4746

Everybody needs to tweet mintpal, let them know Karma has came out to play with the big boys and we need a btc market back to make it easier for people to hop on the train before it gets going to fast.
perhan007
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April 20, 2014, 09:32:11 AM
 #4747

Everybody needs to tweet mintpal, let them know Karma has came out to play with the big boys and we need a btc market back to make it easier for people to hop on the train before it gets going to fast.

I have doubts that adding BTC market would be a good idea before Karma hits at least 15 Satoshi = 600 Litoshi. The sell-walls would be too high and destroy the whole upstream.
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April 20, 2014, 09:36:07 AM
 #4748

Contact exchange platform, KARM to BTC transactions. . . Cheesy

P2P crypto commerce marketplace which enables
buyers & sellers to purchase or list products, goods or services

╼╼╼╼╼◁◀◁ Pre-ICO in June ▷▶▷╼╼╼╼╼
,

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kosmost
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April 20, 2014, 09:36:07 AM
 #4749

I read all but do not understand all ^^ .

When do you sell coin to have profit in poc?


Thanks for your patience regarding these questions. PoC is designed to provide coin-holders with a share of profits while also providing a means to get to the point where we're making profits.

If I understand your question, we are not selling coins. We are allowing users to become owners of the business by either exchanging coins or keeping a certain number of coins in their wallet for 30 days or more.

This helps to "secure the economy" of Karmacoin so that we can do bigger and better things. A strong economy makes everything else stronger, including the network.

What is going on if the coin value go down and not up?

If the coin value goes down you still would have the same % of ownership.

The value of the coin is not tied to the value of Karmashares. It would also not affect your profit percentage.

More than likely, the value of Karmacoin would go up because we are making the economy stronger, building a real business, limiting the number of coins for sale on the market, and making the coin more desirable. And that's just a start.

If i invest 10 000 000 in share and have maybe 1% of the share, what when more and more user participate in the system? my 1% will be 0.9% 0.8% and after some time 0.1% maybe?

If you sold the coin to have some profit what going on if the people who buy it dont participate in karma share and dont reinvest?

You will exchange coins for points, and that number will not change. The number of points you have will determine what percentage of the company you will get (and percentage of profits).

The best time to exchange coins is now, during this week (Quantum period 1). This is because you will get the most points for your coins, at a 10x multiple. Next week it will be 5x.

However, your share of the company will be determined on May 11 after the "bonus" (or, Quantum) period ends. So your share of the company will change as more points are claimed by others.

If you sold the coin to have some profit what going on if the people who buy it dont participate in karma share and dont reinvest?

If you are an owner in Karmashares you are not expected to participate. (It is common for only 1-2% of a community to be active.) However, these people will still own a percentage and have a claim on profits.

If you invest and then do nothing it is fine.

I hope my answers to your questions are ok. Please let me know if there's something else that can be clarified and I will try my best to respond. I'll also post your questions to the subreddit so other people can benefit from your good questions. Thanks for asking!

Goodomy [GOOD] – A new kind of crypto going after the mass market via Shopomy (a revolutionary new retail mining app for consumers and shops) and OTOL (enabling the 'action economy')
huige007
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April 20, 2014, 09:40:16 AM
 #4750

kosmost 
Shares already begun?

P2P crypto commerce marketplace which enables
buyers & sellers to purchase or list products, goods or services

╼╼╼╼╼◁◀◁ Pre-ICO in June ▷▶▷╼╼╼╼╼
,

██
█ █   
█  █     
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rickyross
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April 20, 2014, 09:44:07 AM
 #4751

Kosmost, thanks for being so helpful to the community.

Also, is there a new version of the wallet as of today? Or am I holding the latest wallet already? (I downloaded it 1 month ago.)
kosmost
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April 20, 2014, 09:46:21 AM
 #4752

KarmaShare will be something entirely different.  To gain access to this venture, you will need Karma.

One thing missing from all of these open source coins is a corporate entity that works with the underlying technology.  Everyone is hoping to invest in the next coin with the next new widget.  The blockchain is already the finest piece of meat on the bone! Adding more functionality is great, but until a business utilizes the underlying technology, its really all 100% speculation when investing.  Kosmost and the rest of our leadership team are building a business that will utilize Karma's technology and accept only Karma to invest in this.  Once this project is launched, we will instantly boost our coin's place in the crypto-sphere.

Stay tuned!

Well said!

Goodomy [GOOD] – A new kind of crypto going after the mass market via Shopomy (a revolutionary new retail mining app for consumers and shops) and OTOL (enabling the 'action economy')
kahir
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April 20, 2014, 09:50:26 AM
 #4753

woot woot 45 already ....  im gonna do more support soon
kosmost
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April 20, 2014, 09:51:24 AM
 #4754

What is total karmashare points ? So I can calculate % of profit ?
Thanks...

Points will be claimed as people exchange their coins during the Quantum (bonus) period. On May 11, when the Quantum period is over we will know how many total claimed points we have and also how many unclaimed points are left.

(Since each of the 92 billion coins will have points reserved just in case the owners decide to exchange or 'mint', there will be a large portion of unclaimed profits. But thanks to PoC you will get their share of profits since you have already 'proven' your coins.)

However, I'll make the first update to the Shares and Points list shortly so you can see what percentage you have. (This will be dynamic until May 11 because other people are claiming.)

But the number of points you get today will not change. That will stay the same. If you exchange 40MM coins for points today, you will get 400,000 points and keep them forever (until you decide to sell them or whatever).

Hope this answers your question.

Goodomy [GOOD] – A new kind of crypto going after the mass market via Shopomy (a revolutionary new retail mining app for consumers and shops) and OTOL (enabling the 'action economy')
perhan007
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April 20, 2014, 09:51:58 AM
 #4755

Karmashare is nothing but removing all sell orders in order to cause a shortage of supply and to force up the price...
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April 20, 2014, 09:54:32 AM
 #4756

Karmashare is nothing but removing all sell orders in order to cause a shortage of supply and to force up the price...


did u miss the train bro ?
perhan007
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April 20, 2014, 09:59:46 AM
 #4757

Karmashare is nothing but removing all sell orders in order to cause a shortage of supply and to force up the price...


did u miss the train bro ?

Lol, don't thing so... I have 1.2 Billion Karmacoins
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April 20, 2014, 10:01:27 AM
 #4758


kosmost   

i would like some tutorial with steps for how to get karma shares with your karma coins ... alot of people asking me on twitter
kosmost
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April 20, 2014, 10:13:57 AM
 #4759

First of all good job so far kosmost and the whole team. There's a great deal of excitement in the air now, great time to be part of this community!  Cheesy

There is always excitement when the price is going up. But I will still be excited about the possibilities with Karmacoin. If the price is at 1 litoshi or 1000 satoshi I will still be here beating the drums Smiley

The name itself has tremendous value.

That said, I have read through the Karmashares site and FAQ several times now. As exciting as I find the idea (its really quite simple, as most great ideas are), its the details that irritate me.

You say that shares are reserved for potentially any Karmacoin that will ever be created (~92Billion max). But how do you prevent "double claiming" (for lack of a better term)? Lets say I decide not to exchange my coins, but instead participate by holding them in my wallet for 30 days. I then get shares/points for every one of those coins, so theoretically their shares cannot be claimed again, right? What if after those 30 days I decide to sell half of those coins. The buyer now wants to also claim his shares, but his wallet now contains 5.000.000 of my "already claimed" coins and lets say 5.000.000 "unclaimed" of his own. This is when it starts to get really confusing.

Apologies if this isn't clear from the FAQ. It still needs polishing and I hope that it can be exceedingly clear and well-explained within a couple of weeks.

The number of points is capped (number of coins * maximum multiple) but these are attached to the coins themselves. So if you own the coin you have a claim to the company and profits. If you sell your coins to someone else, then they have that claim.

Your membership kicks in after 10MM coins + 30 or more days, but will be calculated according to how long you've held your coins during that period. You can certainly do as you suggested but you'll only get a portion of the profits for that month.

1 coins can only be in 1 wallet at a time (even in the fuzzy superposition of the Quantum period!), and if you have 64MM coins in your wallet for 50 days then sell 20MM it will be calculated accordingly on a pro-rated basis.

Exchanging them is more straightforward at first glance. But what exactly happens to those coins? Do they stay in cold storage for a certain time, or are they destroyed (sure hope not, though that might increase value of the remaining coins)? If they are not "locked away forever", then we will run into the same problems described above as the coins enter circulation again.

Maybe I just don't get it yet , but I feel I'm not alone. I think you'll still have to finetune the site explaining the concept in the coming days.

@rickyross I don't think kahir is trolling, he's just voicing his opinion. Lets be nice please.

Coins will be held as used as deemed appropriate to grow the business. Our best solution, for now, is to find people who are willing to work for Karma. (This also forces us to create a marketplace for Karma, so that's good.)

Another solution, as some others have done with Bitcoin, is to get a banker to agree on the asset value of Karmacoins held and use this as collateral for a loan.

We do not want to harm the market price by dumping coins. We can do, perhaps, 90% or more of what we need by paying in Karmacoin (developers, especially) in small amounts rather than a lump sum.

There's no reason that certain items (such as servers and other fees) can't be "donated" to the Karmacoin effort by members of the community in order to grow Karmacoin. It's what I have been doing, and it will essentially pay for itself.

Maybe I just don't get it yet , but I feel I'm not alone. I think you'll still have to finetune the site explaining the concept in the coming days.

@rickyross I don't think kahir is trolling, he's just voicing his opinion. Lets be nice please.

Agreed. Thank you for reminding me.

@rickyross I don't think kahir is trolling, he's just voicing his opinion. Lets be nice please.

It's good to have different opinions, and I see no one trolling on this thread, thankfully.

A bit more chaos may even make us better, as we make a pilgrimage into new territory.

Goodomy [GOOD] – A new kind of crypto going after the mass market via Shopomy (a revolutionary new retail mining app for consumers and shops) and OTOL (enabling the 'action economy')
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April 20, 2014, 10:16:53 AM
 #4760

Could the thread-creater please update the exchanges? The current situation is very unsatisfactory Sad
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