Some facts, for the curious. When someone says or implies that somehow I did something wrong, or was greedy, I implore them to consider the following:
-I spent about $10,000 of my own money to support and develop the coin. (This doesn't include personal coin purchases.) I am not a developer and Karma did not have developers at the time. I paid for a wallet dev to rework the coin and move us to X11. That's a nice amount of BTC I'd love to have now
-I paid for press releases. These do not come cheap.
-I personally built several Karma-related websites for the projects we were working on. A few used software that I paid for. (No one asked me to do this, of course)
-personally paid lawyer and filing fees for incorporation
-paid an economist for his expertise (who didn't actually do what we agreed, but that's another story)
-paid my own way to France to meet with a potential buyer/investor. I had a good time, though. I can't complain.
-paid for the Karma trademarks
-paid for the contest on 99designs to develop the Karma logo
etc, etc
Why are some people upset?Because a few years ago we were the first to announce shares in a new company in exchange for Karma. (Kind of like the ICO nowadays. We were pioneers)
All told, about 10% of all coins were sent to a wallet that I controlled. During that time the value of Karma went up substantially (you know, supply vs demand).
Anyone who requested their coins back at that time got it. However, only 1 person did and the rest were happy with a percentage of the new company.
However, some new regulations were coming out surrounding cryptocurrencies, as well as existing regulations regarding securities that my lawyer advised me on, and I decided to shut down Karmashares and return the coins to everyone.
100% of coins were returned.
Not a single one was sold or lost. Or worse - stolen. (Everyone knows this.) How many nefarious crypto developers have there been? I could have sold them for about $250,000-300,000 at the time. I never considered it once.
When I told people the situation and they still did not listen,
I suggested we can keep Karmashares as-is, but someone else's name must be the responsible party. Crickets. That tells you a lot, I guess. People wanted all the benefits with none of the risks, but they were fine with me being the at-risk party.
It's all here in the threads.
So some people were upset because they could not sell their coins at the high price. Others may have been upset because I could have used the coins to sell for BTC to further the coin (which I think would not have been the right thing to do).
