rickyross
Newbie
 Offline
Activity: 48
Merit: 0
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April 19, 2014, 09:32:33 PM |
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Kosmot please don't follow the POS wave .... karma is gonna be great with the new of POC and karmashares my best hopes POC is a great idea, but the POC+POS combination would make karmacoin a POS on steroids, and unlike any other coin. Anyways great job so far, and keep up the good work karma team +1 @Kahir, Go away you troll nobody wants you here...! |
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ryannguyen18
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April 19, 2014, 09:58:41 PM |
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What is total karmashare points ? So I can calculate % of profit ?
Thanks...
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Bitcoin - 1NCmJ3hXLywaRHTsnm17rGkaJbjtbiKxZW
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learminer
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April 19, 2014, 10:02:49 PM |
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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!  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. 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. |
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cryptowho
Full Member
Offline
Activity: 182
Merit: 100
Ask me about Karmacoin
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April 19, 2014, 10:16:12 PM |
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yes, please let everyone voice their opinions.
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looking for C++ coders , web-dev and coin-devs to join karmacoin team. We are trying to expand. we have so many goals. Challenge accepted? PM me.
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lobo13
Full Member
Offline
Activity: 126
Merit: 100
Check my sign for more MHs
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April 19, 2014, 10:24:50 PM |
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Wehere do i get the laters wallet? the site that hosting the wallets is not working any help?  |
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learminer
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April 19, 2014, 10:28:14 PM |
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i don't get what is happening right now lol......
just chaos buy and sell orders can't see where its going lol
Did you check the volume? Between Cryptsy and Minpal KARM has been generating around 20BTC (or 800LTC) trading volume today. That's still not much compared to what will come, but much higher than anythign this coin has seen in a long, long time. Of course volume brings volatility. New people pouring in raise the price (no time for slow accumulation), others want to supress it (to keep buying cheap KARM for a while longer) or just want out with a healthy profit (don't forget, there's plenty people who bought KARM at 10litoschi - ~27litoshi is fantastic profit). The more attention KARM gets the coming days, the more volatile price will get. But the base value (average price) has already risen 100% compared to 2 days ago. I think it will only go up from here. |
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DannyTom
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April 19, 2014, 10:49:01 PM |
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Completely forgot I even had Karma! Been trading on Cryptsy all day. My KARM balance is still the same yet I've made 1.7 LTC buy putting in low buy and high sell orders!  |
BTQ: 17NEp7WtUZt4V5RiFP6YHxD1hcte7U3sB8
LTC: LeyXcTFxC5Ku3KDUyhwDHtLko1JwChd99h
FTC: 6n56LJKYrdgmsougCCjenLFtpPTcjFQ829
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ShawnLeary
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April 19, 2014, 10:56:08 PM |
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Great questions, details are coming. This has never been done before so we want to make sure we have all the details hammered down before launch, but the mission of KarmaShares, and that of Karma the crypto, will be one in the same. KarmaShares will be the nimble business end of Karma representing us in both the business and scholastic arenas.
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"We have the power to begin the world over again" - Thomas Paine
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ryannguyen18
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April 19, 2014, 11:05:22 PM |
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Great questions, details are coming. This has never been done before so we want to make sure we have all the details hammered down before launch, but the mission of KarmaShares, and that of Karma the crypto, will be one in the same. KarmaShares will be the nimble business end of Karma representing us in both the business and scholastic arenas.
Shawnleary, do you know what is total karmashare points ? I know we have total 92 karmacoins not karmashare points... Thanks |
Bitcoin - 1NCmJ3hXLywaRHTsnm17rGkaJbjtbiKxZW
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kahir
Legendary
Offline
Activity: 1050
Merit: 1000
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April 19, 2014, 11:09:38 PM |
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Great questions, details are coming. This has never been done before so we want to make sure we have all the details hammered down before launch, but the mission of KarmaShares, and that of Karma the crypto, will be one in the same. KarmaShares will be the nimble business end of Karma representing us in both the business and scholastic arenas.
Shawnleary, do you know what is total karmashare points ? I know we have total 92 karmacoins not karmashare points... Thanks Did u even read the FAQ ... no one can know the Total unless the quantum end + more % for the POC btw ltc getting some momentum too close to 0.026 |
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Delaforetnoire
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April 19, 2014, 11:15:15 PM |
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Nice to see more people coming on this thread, welcome !
Please stay calm and cool, everyone bring his own ideas.
Sometimes people misunderstand themselves because of lack of language, don't forget that we all come from different parts of the world (I am French).
Don't forget to subscribe on our reddit ! Action is other-there !
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learminer
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April 19, 2014, 11:18:43 PM |
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Looking forward to the answers. We'll need them soon if the kickoff is indeed going to be tonight. Cannot decide how/what to invest if I don't understand the system.
On another note - damn is price moving up fast. Slow down people, we want this coins price sustained, not pump and dumped.
Anyway, bye bye cheap Karmacoin, I wish I had bought more of you. But I was always out of LTC when price was lowest. I guess I need to find new homes for my buywalls now. It was fun defending KARM against dumpers for the past few weeks. ;-)
I will watch where the new floor settles and then help wall there as long as I have some LTC left.
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p4r4m0un7
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April 19, 2014, 11:28:12 PM |
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You will see 8 000 bitcoins daily trade for Karma. Yes, thousands. And this is not far from now. I don`t understand how is possible for someone to sell this coin for litoshi. Seriously.
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ShawnLeary
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April 19, 2014, 11:29:53 PM |
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"We have the power to begin the world over again" - Thomas Paine
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bluejean
Member
Offline
Activity: 74
Merit: 10
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April 19, 2014, 11:38:50 PM |
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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! 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. 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. +1 First post in this thread but have been reading since the beginning. I have to agree with learminer on the great job kosmost and the whole team are doing! This is by far the most professionally handled crypto coin out there. I love the transparency too....you guys always keep the community informed. Most other dev groups are so secretive. This is bad juju for any coin in my opinion. My understanding of karmashares is that when someone wants to invest, they need to have at least 10 million to invest. Their Karmacoins are traded for Karmashares at 1000 coins per share/point. The Karmacoins become the property of Karmashares LLC and in exchange, the investor is given 1 share/point (per 1000 Karmacions traded) of ownership in the company. A total of 92 billion shares/points comprise 100% of company worth, so the amount of shares/points you own against the 92 billion total shares/points determines the percentage of company ownership you have. |
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ShawnLeary
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April 19, 2014, 11:41:51 PM |
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You will see 8 000 bitcoins daily trade for Karma. Yes, thousands. And this is not far from now. I don`t understand how is possible for someone to sell this coin for litoshi. Seriously.
Doge is a few months ahead of us, but I feel that eventually we will be where they are at. Just have to stay focused. We have a great coin and a proper team around it. |
"We have the power to begin the world over again" - Thomas Paine
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ShawnLeary
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April 19, 2014, 11:49:20 PM |
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I want the #1 spot!!!
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"We have the power to begin the world over again" - Thomas Paine
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Delaforetnoire
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April 19, 2014, 11:53:54 PM |
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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! 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. 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. +1 First post in this thread but have been reading since the beginning. I have to agree with learminer on the great job kosmost and the whole team are doing! This is by far the most professionally handled crypto coin out there. I love the transparency too....you guys always keep the community informed. Most other dev groups are so secretive. This is bad juju for any coin in my opinion. My understanding of karmashares is that when someone wants to invest, they need to have at least 10 million to invest. Their Karmacoins are traded for Karmashares at 1000 coins per share/point. The Karmacoins become the property of Karmashares LLC and in exchange, the investor is given 1 share/point (per 1000 Karmacions traded) of ownership in the company. A total of 92 billion shares/points comprise 100% of company worth, so the amount of shares/points you own against the 92 billion total shares/points determines the percentage of company ownership you have. You are right ! The first week, you will see a bonus of x10 for each share, so 10 000 000 karmacoins minimum, 1000 karmacoins x 1 shares x10 = 10 karmashares. Next week, bonus will be x5, week after, bonus will be x2.5 and final exchange rate will be 1.75. If you only keep your karmas more than 30 days on your wallet, you will have share's profit at rate 1. |
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Matheltu
Member
Offline
Activity: 84
Merit: 10
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April 20, 2014, 12:07:27 AM |
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How do people feel about this whole Karmashare thing and POC? From what I am reading it all sounds great. I have about 100 mil KARMA that I am debating on investing into this POC. I do not want to get ripped off or anything though.
The thing I am concerned with is what happens when KARMA becomes worth 4-500 litoshi...or more....will I be getting as much btc from my karmashare investment, as I would be getting from just exchanging my coins on an exchange??
It seems very enticing... but I want to know eveything about it before I invest
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