[ANN][KARM] Karmacoin - New Initiatives - Helping People Do Good

[bigc1984]

so I guess your tech savvyness didn't tell you how to delete quotes so you would look less retarded?

+1


edit symbol minded? surely you mean simple minded, or was that an attempt at a joke?

Symbol minded and simple minded are the same thing, non-thinker.

ok i was thinking you were slightly stupid or misunderstood, but now i just know you're a fucktard, good day

And you're not smart enough to leave personal comments for when you are in person.

[MrJesusChrist]

If it's all about community then lets all trade bottle caps. It's about decentralizing and anonymizing currency. Quit trying to lower the revolutionary traits of crypto to be some community soccer mom gimmick. Is karmacoin even working on an encrypted transaction network? How about anonymizing the block chain? Of course not, karmacoin is more interested in getting on more exchanges so it can be pump and dumped more. There's no community with karmacoin just a bunch of non-thinkers hoping they are gonna turn a profit off a shill coin.

 

Get out of here. Decentralizing and anonymizing currency are not the only reasons cruptocurrencies were created. Let's not forget about the ever growing tipping culture on the internet in which altcoins appeal to. That's an entire community in itself that loves tipping altcoins on youtube, twitter and reddit.

The fact is you CAN make A LOT money off altcoins, we don't need to hope to make money off this, most of us already do. YOU are the non-thinker if you cannot see this. I've boughten so many altcoins that people say are shit clone cone coins... and guess what? I made an average of 3-4x my initial investment on almost ALL of the coins I bought into, and I've gotten 15x my return before. You have to be idiotic to not see the money that can be made from buying an altcoin in the early stages of a coins release.

Hell, just yesterday I made a couple bitcoins off Penguincoin.

[bigc1984]

If it's all about community then lets all trade bottle caps. It's about decentralizing and anonymizing currency. Quit trying to lower the revolutionary traits of crypto to be some community soccer mom gimmick. Is karmacoin even working on an encrypted transaction network? How about anonymizing the block chain? Of course not, karmacoin is more interested in getting on more exchanges so it can be pump and dumped more. There's no community with karmacoin just a bunch of non-thinkers hoping they are gonna turn a profit off a shill coin.

 

Get out of here. Decentralizing and anonymizing currency are not the only reasons cruptocurrencies were created. Let's not forget about the ever growing tipping culture on the internet in which altcoins appeal to. That's an entire community in itself that loves tipping altcoins on youtube, twitter and reddit.

The fact is you CAN make A LOT money off altcoins, we don't need to hope to make money off this, most of us already do. YOU are the non-thinker if you cannot see this. I've boughten so many altcoins that people say is a shit clone cone coin... and guess what? I made an average of 3-4x my initial investment on almost ALL of the coins I bought into, and I've gotten 15x my return before. You have to be idiotic to not see the money that can be made from buying an altcoin in the early stages of a coins release.

Hell, just yesterday I made a couple bitcoins off Penguincoin.

Yea sure you are making money, it's called a pyramid scheme there are losers in that game. These coins rocket in price due to artificial inflation and then the whales dump leaving the little guy with a worthless coin. That's exactly what karmacoin is; a worthless coin that the whales are trying to pump up so they can dump. What's not a pyramid scheme? A coin that provides something of value. No one wants to dump real money into 'tipping' lames on the internet. People want an alternative currency to trade goods with that's where the value lies.

And I see where your focus is, ripping people off and making money. You are blinded by capitalizing on others instead of seeing the evolutionary progress cryptocurrency presents.

[MuffinMaster]

so you registered a month ago and know you're the big crypto man huh? how original

I've been in the crypto game for over a year. I run a crypto chat on IRC and a couple websites. I spend 12 hours a day breathing, eating, shitting crypto information. I know my shit.

wait, you are wasting your time trying to convert random people to your way of thinking by being a douchebag? And not even a normal douchebag, a narcissistic douchebag.

good luck with that.

[ManicMeddler]

somebodies holding a bag xD

[MrJesusChrist]

Yea sure you are making money, it's called a pyramid scheme there are losers in that game.

I stopped reading after here. As I stated before, I, as well as many others, make money off trading altcoins. I cannot be a loser if I'm making money.

[trigeek]

so you registered a month ago and know you're the big crypto man huh? how original

I've been in the crypto game for over a year. I run a crypto chat on IRC and a couple websites. I spend 12 hours a day breathing, eating, shitting crypto information. I know my shit.

wait, you are wasting your time trying to convert random people to your way of thinking by being a douchebag? And not even a normal douchebag, a narcissistic douchebag.

good luck with that.

Both of you, cut it out! This has nothing to do with karmacoin any more.

[bigc1984]

Yea sure you are making money, it's called a pyramid scheme there are losers in that game.

I stopped reading after here. As I stated before, I, as well as many others, make money off trading altcoins. I cannot be a loser if I'm making money.

these scams are hurting the professional long standing image of crypto. This scam coin is even more hypocritical because there is definitely nothing karmic about it. Come on insult me some more.

[p4r4m0un7]

Is this helpful? I`ve deleted my previous posts. Just look at the picture. And then pretend that there is nothing wrong with the rewards. How come K7SBPBYDkEPpDqpARgE9xBes7f1FZ6w68Z   is getting only big value blocks. look also at the KRrwB9AT46ShPoLxx3WhUDPC7aqCKT9XBq. Something is wrong guys.

[bigc1984]

Oh yea and there's this.

[pandher]

Please donate some karma's for a giveaway. This giveaway will spread karma to India

[trigeek]

http://i60.tinypic.com/2noa6p.jpg

Is this helpful? I`ve deleted my previous posts. Just look at the picture. And then pretend that there is nothing wrong with the rewards. How come K7SBPBYDkEPpDqpARgE9xBes7f1FZ6w68Z   is getting only big value blocks. look also at the KRrwB9AT46ShPoLxx3WhUDPC7aqCKT9XBq. Something is wrong guys.

It's already been explained.  It's due to the way that the random block reward is calculated that makes the next block predictable.  That pool is moving their hash rate around so that they only work on the bigger reward blocks.  There are two solutions- one, move to a fixed reward value instead of random (which would require yet another hard fork and wallet release) or two, wait it out for when the block reward drops again (which is happening soon.)

There is one other factor that is going to help the problem immensely, and it's this right here:

KarmaCoin is now listed as #1 most profitable on CoinWarz.  Due to that, the network hash rate is up like 50% since last night and it's still rising.  The bigger the network is, the less chance that someone has to exploit the block rewards.  That is why DogeCoin doesn't have an issue with it.  In order for the exploit to work, you need a BIG chunk of the net hash rate... 30%+.  The more people mining this coin, the less chance these guys will have to cherry pick the bigger blocks.

All that said... anybody who is looking for a pool, come join ours!  We're over 400 MH and running very smoothly.

http://karma.hashstrike.com

[btcforthefuture]

http://i60.tinypic.com/2noa6p.jpg

Is this helpful? I`ve deleted my previous posts. Just look at the picture. And then pretend that there is nothing wrong with the rewards. How come K7SBPBYDkEPpDqpARgE9xBes7f1FZ6w68Z   is getting only big value blocks. look also at the KRrwB9AT46ShPoLxx3WhUDPC7aqCKT9XBq. Something is wrong guys.

It's already been explained.  It's due to the way that the random block reward is calculated that makes the next block predictable.  That pool is moving their hash rate around so that they only work on the bigger reward blocks.  There are two solutions- one, move to a fixed reward value instead of random (which would require yet another hard fork and wallet release) or two, wait it out for when the block reward drops again (which is happening soon.)

There is one other factor that is going to help the problem immensely, and it's this right here:

KarmaCoin is now listed as #1 most profitable on CoinWarz.  Due to that, the network hash rate is up like 50% since last night and it's still rising.  The bigger the network is, the less chance that someone has to exploit the block rewards.  That is why DogeCoin doesn't have an issue with it.  In order for the exploit to work, you need a BIG chunk of the net hash rate... 30%+.  The more people mining this coin, the less chance these guys will have to cherry pick the bigger blocks.

All that said... anybody who is looking for a pool, come join ours!  We're over 400 MH and running very smoothly.

http://karma.hashstrike.com

thanks for clearing this up!

[ballzdeep]

Why is random not random and calculated from last block(s) ?

[trigeek]

Why is random not random and calculated from last block(s) ?

If random was really random, that would mean that I could always submit blocks that were the maximum value and just tell everyone I'm honest and that I really did "randomly" find a block of 1,499,999 coins.  It has to be a random number that everyone agrees on and trusts, so the randomness is based off of the hash of the previous block found.  Here's how it works.

1. Each block has a "blockhash", which is a long string like this: 6da0c15336ce5ab8bfd42473bb305743ba22ec86f0f8b6fa184b33a69df30acd
2. That string is converted to an integer, and used as a seed for the random number generator.  Every random number generator has to have a starting value, and given the same starting value it will always produce the same sequence of random numbers.
3. The random number generator picks the value of the next block.

This means that everyone on the network can check the work to make sure that the person who submitted the block isn't lying about the value of that block.  The downside to this is that it means that you know how much the next block will be worth, BEFORE it is even generated.

[bigc1984]

Why is random not random and calculated from last block(s) ?

If random was really random, that would mean that I could always submit blocks that were the maximum value and just tell everyone I'm honest and that I really did "randomly" find a block of 1,499,999 coins.  It has to be a random number that everyone agrees on and trusts, so the randomness is based off of the hash of the previous block found.  Here's how it works.

1. Each block has a "blockhash", which is a long string like this: 6da0c15336ce5ab8bfd42473bb305743ba22ec86f0f8b6fa184b33a69df30acd
2. That string is converted to an integer, and used as a seed for the random number generator.  Every random number generator has to have a starting value, and given the same starting value it will always produce the same sequence of random numbers.
3. The random number generator picks the value of the next block.

This means that everyone on the network can check the work to make sure that the person who submitted the block isn't lying about the value of that block.  The downside to this is that it means that you know how much the next block will be worth, BEFORE it is even generated.

Which means this coin sucks even more than I thought.

[trigeek]

Which means this coin sucks even more than I thought.

If you think it sucks so much, why are you still here? Oh wait, I don't care.

I urge everyone to locate the "ignore" button next to his name, it will increase your inner peace and lead to greater karma all around.  It's working for me already.

[LAFreeze]

No, it's simply a matter of maths... You have to know or be able to calculate how much a block is worth. It's a bad idea to do that based on the hash of the block itself, because then people keep mining until they've found a profitable hash. So you decide in advance. Some coins predetermine the value, so blocks with a prime number are worth 2x normal, or block 10k gets you 100x normal. Here it's based on the previous one, which introduces some randomness. Disagree? Bad luck!

[bigc1984]

Which means this coin sucks even more than I thought.

If you think it sucks so much, why are you still here? Oh wait, I don't care.

I urge everyone to locate the "ignore" button next to his name, it will increase your inner peace and lead to greater karma all around.  It's working for me already.

Then how did you see what I wrote? Yea ignore the issues instead of dealing with them. Are you an alcoholic? I'm here to bring enlightenment to the fact this coin is complete scam trash. Basically I'm collecting REAL LIFE karma.

[CryptoMF]

                                               

    ATTENTION EVERYONE WHO MINES OR BUYS KARMACOIN!!!

Re-posting for those who may have missed. All the pools and regular miners getting massively ripped off on the block rewards right now. This is blatant and obvious to anyone who cares to look at the publicly available numbers. There is no other explanation for what is happening. I am not going to try to tell anyone what to do but you look at the numbers and make your own decisions.

Last 24 hours of blocks found. Time period 4 pm on 2/17/2014 to 4 pm 2/18/2014 (PST timezone)

The two biggest pools for Karmacoin

http://karma.hashstrike.com = 230 blocks and 98155792.429 coins mined for an average block size of 426764

http://pool.karmacoin.info = 369 blocks and 163830536.742 coins mined for an average block size of 443905

Total blocks mined during this 24 hour period by everyone (numbers from the blockchain site) = 1411

Total number of coins mined with these 1411 blocks = 1082426659

Remove the coins and block mined by these two pools and you have the following:

1411 - (230 + 369) = 812 blocks by others

1082426659 - (98155792 + 163830536) = 820440331 coins mined by others

So then 820440331 / 812 = 1010394.496305419 average coins per block.

Yes ladies and gentlemen that means that the exploiters are getting over twice the number of coins per block as the top two pools combined over the last 24 hours. HOW IS THIS POSSIBLE IN A FAIR COIN? The profitability calculators for this coin are way off and should be cut in half to get the correct numbers for us miners. The trade volume is dominated by the exploiters who artificially inflate the coin to make it look attractive. You my friends are the patsies in this scheme.

These numbers do not lie. There is no way this is pure luck. In fact they tell us a truth that someone has found a massive exploit of the code behind Karmacoin and is using it in our face without any fear of being caught. They do not care

This can only be fixed by changing to a fixed reward amount. The problem has been brought up with other coins and is a known exploit. The devs are dragging their feet here and need to act fast to fix what they have themselves acknowledged to be a serious problem.

The best thing you can do right now is spread the word about this far and wide so that all miners know to steer clear of Karmacoin until this is fixed. As for what you decide to do with your own hashing power and hard earned cash I will leave up to you but I am not touching this coin with a ten foot pole. Good luck to you all.