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

[Alphi]

It's not a semi valid point it's a 100% valid point. Satoshi is the lowest denomination of BTC, it has nothing to do with how exchanges coding works.

Listing in litecoin is essentially allow to divide further.  ie, 20litoshi is roughly .5 satoshi.  So no, 1 satoshi isn't the floor.

Furthermore what you see here with those huge sell walls is a by product of high coin supply. People forget that in trading, numbered values mean nothing, what is relevant is %. So you have a spread of 100%. It's like saying in forex you could only buy or sell at 1$ and 2$, obviously you are gonna have huge walls, you are talking about doubling the value with the spread.

Having a litecoin market would actually be beneficial. People see going to litecoin market as a failure, but it's nowhere near that. Having Having a litecoin market would mean you can trade at 45litoshi, or 47, or 68, or 250. It makes for healthier spreads which removes the incentive of buying at floor and selling at ceiling.

I think you missed my point... if both exchanges delisted BTC/KARM trading pairs and switch over to only LTC/KARM pairs then effectively there is no BTC price.
this also takes the floor out of the market and allows any manipulators to drop the price even further.. resulting in far less commissions for the exchange.. so again I would suggest that no exchange in their right mind would take that risk.. it just simply is not in their interest to do that considering that LTC trading volume is about 1/5th of BTC trading volume.

the much higher risk, and what caused many people to move their money out of coins like Doge, Karm etc and into safer coins is that one of these secondary market exchanges could end up being hacked just like Mt Gox was. The more cryptocoins you list the more doors you have on your exchange for thieves siphon off coins via transaction malleability.

coinmarket.io claim that they were down in order to fix their code to prevent this... (did they preemptively fix the problem or are they recovering from a successful hack? who knows)
mintpal? crapsty?  (no news is good news right? or is ignorance bliss?... who knows)


and for what its worth.. I'm still waiting for my BTC withdraw to come out of coinmarket and its been days... sound familiar?
they claim they are processing the backlog manually now.. that sure sounds familiar!

so in short.. we can argue about spreads and liquidity all day long but that is just sidestepping the real issue.... and that issue is something we cannot control.. a spooked market... every other issue (over supply, lack of liquidity etc) will be taken care of by the market.

meanwhile many miners have bills to pay so if they cant mine any profitable coins they are forced to dump.

so in conclusion.. what i'm simply saying is that sometimes the best course of action is.. inaction...

[cryptowho]

oh man. hope you get you btc back.


i just placed 1 btc buy order. need more karma to give away for bounties. i'd rather buy the 1 orders and use the coin properly.  

1 btc ~ 100 000 000 karma. thats like.. 100 days of mining for me. Awww yissss, motha fucking karmacoins!!!

[matauc12]

It's not a semi valid point it's a 100% valid point. Satoshi is the lowest denomination of BTC, it has nothing to do with how exchanges coding works.

Listing in litecoin is essentially allow to divide further.  ie, 20litoshi is roughly .5 satoshi.  So no, 1 satoshi isn't the floor.

Furthermore what you see here with those huge sell walls is a by product of high coin supply. People forget that in trading, numbered values mean nothing, what is relevant is %. So you have a spread of 100%. It's like saying in forex you could only buy or sell at 1$ and 2$, obviously you are gonna have huge walls, you are talking about doubling the value with the spread.

Having a litecoin market would actually be beneficial. People see going to litecoin market as a failure, but it's nowhere near that. Having Having a litecoin market would mean you can trade at 45litoshi, or 47, or 68, or 250. It makes for healthier spreads which removes the incentive of buying at floor and selling at ceiling.

I think you missed my point... if both exchanges delisted BTC/KARM trading pairs and switch over to only LTC/KARM pairs then effectively there is no BTC price.
this also takes the floor out of the market and allows any manipulators to drop the price even further.. resulting in far less commissions for the exchange.. so again I would suggest that no exchange in their right mind would take that risk.. it just simply is not in their interest to do that considering that LTC trading volume is about 1/5th of BTC trading volume.

the much higher risk, and what caused many people to move their money out of coins like Doge, Karm etc and into safer coins is that one of these secondary market exchanges could end up being hacked just like Mt Gox was. The more cryptocoins you list the more doors you have on your exchange for thieves siphon off coins via transaction malleability.

coinmarket.io claim that they were down in order to fix their code to prevent this... (did they preemptively fix the problem or are they recovering from a successful hack? who knows)
mintpal? crapsty?  (no news is good news right? or is ignorance bliss?... who knows)


and for what its worth.. I'm still waiting for my BTC withdraw to come out of coinmarket and its been days... sound familiar?
they claim they are processing the backlog manually now.. that sure sounds familiar!

so in short.. we can argue about spreads and liquidity all day long but that is just sidestepping the real issue.... and that issue is something we cannot control.. a spooked market... every other issue (over supply, lack of liquidity etc) will be taken care of by the market.

meanwhile many miners have bills to pay so if they cant mine any profitable coins they are forced to dump.

so in conclusion.. what i'm simply saying is that sometimes the best course of action is.. inaction...

You are about 100% wrong on every word you said. Please re - read my post explaining EXACTLY why trading at 1 satoshi is highly detrimental.

There is only 2 solutions, one, to have more decimals (ie trade in litecoin). Or 2, that the market cap increases about 25 folds. And the problem with solution 2 is that there is no adequate trading possible because of 100% spread. So it only leaves solution.

You based every word in tour post based on your based feeling that a litecoin market would mean it could drop further. And sure it can, but it's also the only way to see it increase.

The best way to explain the phenomenon to an uneducated would be if you want to buy a toy for 100$, and they are for sale at 200$, what would usually happen? You would meet somewhere between 125$ and 175$ for the final sale. But both are firm, you won't buy for more than 100$ and he won't sell for less than 200$. There will be no sale. So the supply and demand is 0 if you discard the arbitrators (those buying at 100$ and selling at 200$), which have no intention of losing potential 100% profit sales because they would lose their place in queue to be the sellers if they tried to sell at 200% profit, so they just keep buying at 100$ and selling at 200$.

That creates huge walls, and not only the walls you see, but also the walls "to be", if a lot of people start buying at 200$, they are just happy to sell more. The only way for the price to pierce that is that the demand exceeds the arbitrators volume, which, in this competitive market, will just not happen.

[mattboldfield]

@cryptowho

Thankyou I value your comment immensely! You speak wisely.
So wtf is going on? Where is the regulation to stop all these dumb coins hitting the market? (dumb question) Why on earth are exchanges accepting them? Is the community turning soft, is its only vote of confidence in your support of a coin? Because that doesn't even add up as Karma seems well supported. This is a long term investment I gather, but how long? Are the pools to blame?? I don't see how, as its the individuals choice to dump or not. Please fill me in on pool dumps or anything you know as it is highly appreciated. PM if you want!
I'd like to agree with you that only coins that have meaning will survive, as I am drawn to logical things not rubbish, but their is no precedent here that will be the case.
And like any human, hope is what keeps us going. And seriously I hope Karma does survive and one day flourish because their are some nice people around here.
I guess I came in at the wrong angle and I still am learning ok. But my moan is because I have flipped all coins mined so far except Karma.
I am not delusional, I don't expect to be a millionaire! But what I do expect is ROI at minimum, hence my moan mining for Karma for 4 days and receiving nothing in over 1.5 weeks of trade.
I think the people getting defensive with what I write don't have serious money tied up in mining equipment. When you take this job full time, theirs a lot of minimum requirements just to break even.
Getting paid, so I can pay my powerbill  is the minimum, getting ROI is next!
So yeah Im bashing the coin not moving, not the community!

[bcd]

@cryptowho

Thankyou I value your comment immensely! You speak wisely.
So wtf is going on? Where is the regulation to stop all these dumb coins hitting the market? (dumb question) Why on earth are exchanges accepting them? Is the community turning soft, is its only vote of confidence in your support of a coin? Because that doesn't even add up as Karma seems well supported. This is a long term investment I gather, but how long? Are the pools to blame?? I don't see how, as its the individuals choice to dump or not. Please fill me in on pool dumps or anything you know as it is highly appreciated. PM if you want!
I'd like to agree with you that only coins that have meaning will survive, as I am drawn to logical things not rubbish, but their is no precedent here that will be the case.
And like any human, hope is what keeps us going. And seriously I hope Karma does survive and one day flourish because their are some nice people around here.
I guess I came in at the wrong angle and I still am learning ok. But my moan is because I have flipped all coins mined so far except Karma.
I am not delusional, I don't expect to be a millionaire! But what I do expect is ROI at minimum, hence my moan mining for Karma for 4 days and receiving nothing in over 1.5 weeks of trade.
I think the people getting defensive with what I write don't have serious money tied up in mining equipment. When you take this job full time, theirs a lot of minimum requirements just to break even.
Getting paid, so I can pay my powerbill  is the minimum, getting ROI is next!
So yeah Im bashing the coin not moving, not the community!

@mattboldfield - There is no regulation yet to stop all these dumb coins. Maybe bitcointalk forum should put a team to filter new coin releases and enforce standards. Exchanges accept any shit coins because they make money on every transaction. When these coins lose volume, exchanges delist them. The problem with Karma coin and its current value is, the dumping hasn’t stopped by multipools/ megaminers, the difficult is not that high and coin being new hasn’t achieved anything significant yet (hopeful on the.. Girls scout fund and its cause). But Karma coin has all the good attitude and community. Karma is an investment coin. If you ask me how long? as long as you, me, others believe the concept of coin, contribute and see how things go. As always do not invest money which you can't afford to lose.

[oddwh]

Karmacoin back on coinwarz 

[BitTanker]

Block half in 30 minutes.

all coins for 1 SAT get 3.7 BTC day. Volume is 13.2 BTC day.

multipools will suffer more.

I believe that in a few days will be in 3-4 SAT. 

[Kartojal]

Big notice the block halving!!!!!

[pugwilfy]

i dont know if its been said, but something that may help us is we are now listed 8th most profitable now on coinwarz and they have finally updated our exchange to mintpal.. so difficulty my well go up just as the block rewards half... we may need to get in contact and let them know about that

[ShawnLeary]

Karmacoin back on coinwarz 

Yep!  Mintpal finally got hooked up with coinwarz!  We will once again see a volume other than 0 for all the miners. 

[Evolvo]

Bid support almost entirely gone...hope this doesn't go into no-bid territory....or slip to a LTC market...I guess this just means we have more work to do...those sell walls are insane right now

[Evolvo]

The bid support is now gone.  I hope that the KARM/BTC book is not removed

[Alphi]

I just saw Karma was on Cryptorush...
that's something i didn't know..

[Evolvo]

Now what do we do? We're running a very high risk of being de-listed from Mintpal sometime today....There simply is no one buying

[Invisible Hands]

Karmacoin back on coinwarz 

The block reward is listed as 510000 but should be listed as 260000.  Also there are no buyers at 1 satoshi.  LTC market to follow...

[matauc12]

Now what do we do? We're running a very high risk of being de-listed from Mintpal sometime today....There simply is no one buying

It won't be DELISTED. But they will open a ltc market

That does not mean lower value, it means that the coin can actually be traded without having a 100% spread.

[Evolvo]

If the KARM/BTC market is removed...you have essentially been de-listed.  Once we go to an LTC market..there's no coming back..

[Invisible Hands]

i dont know if its been said, but something that may help us is we are now listed 8th most profitable now on coinwarz and they have finally updated our exchange to mintpal.. so difficulty my well go up just as the block rewards half... we may need to get in contact and let them know about that

The profitability shown on coinwarz is approximately double what the actual profitability is right now because coinwarz is using 510000 coins/block when we are at 260000 coins/block...

[pugwilfy]

i dont know if its been said, but something that may help us is we are now listed 8th most profitable now on coinwarz and they have finally updated our exchange to mintpal.. so difficulty my well go up just as the block rewards half... we may need to get in contact and let them know about that

The profitability shown on coinwarz is approximately double what the actual profitability is right now because coinwarz is using 510000 coins/block when we are at 260000 coins/block...

i know.. thats what i'm getting at, someone need to update them that our block reward changed


also is the reward random still or 250,000 on every block?

[Invisible Hands]

i dont know if its been said, but something that may help us is we are now listed 8th most profitable now on coinwarz and they have finally updated our exchange to mintpal.. so difficulty my well go up just as the block rewards half... we may need to get in contact and let them know about that

The profitability shown on coinwarz is approximately double what the actual profitability is right now because coinwarz is using 510000 coins/block when we are at 260000 coins/block...

i know.. thats what i'm getting at, someone need to update them that our block reward changed


also is the reward random still or 250,000 on every block?

260,000 total coins on every block (10k block + 250k rewards = 260k)