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Author Topic: [ANN][KARM] Karma / ₭ / X11  (Read 564636 times)
tinaken_v
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June 13, 2017, 07:42:29 PM
 #8181

Sorry but why do we need a swap? Can people not focus on the original KARMA coin... and get this one moving? Why should we even talk about swaps... Who will do the swap? You need a good escrow to do this, and not just the new dev that does the swap. Also it should already be listed on exchanges like Yobit. As why would anybody want to swap KARMA coin to another coin when that coin is even not listed on a exchange like KARMAToken in the past???

It has been mentioned before, but it doesn't mean that is the best way to go.

With Karma on Ethereum, we could be listed on Bittrex and other exchanges. It would be the same.

It's good to consider several options and weigh pros and cons of each, not just the ones we have a personal preference for. Also, to illustrate that multiple aspects are being considered.

As long as the swap is fair and people can trade it... then it is moving in the right direction... Why not something similar then ZEC... that 5% of the new blocks goes to dev and not having those massively premine amount of dev (when you check what happens with coins with premine on Yobit then you know what i mean)...

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June 13, 2017, 07:46:19 PM
 #8182

Sorry but why do we need a swap? Can people not focus on the original KARMA coin... and get this one moving? Why should we even talk about swaps... Who will do the swap? You need a good escrow to do this, and not just the new dev that does the swap. Also it should already be listed on exchanges like Yobit. As why would anybody want to swap KARMA coin to another coin when that coin is even not listed on a exchange like KARMAToken in the past???

It has been mentioned before, but it doesn't mean that is the best way to go.

With Karma on Ethereum, we could be listed on Bittrex and other exchanges. It would be the same.

It's good to consider several options and weigh pros and cons of each, not just the ones we have a personal preference for. Also, to illustrate that multiple aspects are being considered.

As long as the swap is fair and people can trade it... then it is moving in the right direction... Why not something similar then ZEC... that 5% of the new blocks goes to dev and not having those massively premine amount of dev (when you check what happens with coins with premine on Yobit then you know what i mean)...

Considering how many billions of bad coins we have there would be no way to make it fair. Maybe with some future technology to investigate the blockchain but it's not something we can do now.

What's to prevent someone who stole coins, for example, from swapping their coins for the new coin?

Perhaps the best way is a fresh start.

Goodomy ["GOOD"] token here ∞ Rewards for customers of 700,000 retail stores in the US and millions more around the world
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June 13, 2017, 09:51:38 PM
 #8183

Sorry but why do we need a swap? Can people not focus on the original KARMA coin... and get this one moving? Why should we even talk about swaps... Who will do the swap? You need a good escrow to do this, and not just the new dev that does the swap. Also it should already be listed on exchanges like Yobit. As why would anybody want to swap KARMA coin to another coin when that coin is even not listed on a exchange like KARMAToken in the past???

It has been mentioned before, but it doesn't mean that is the best way to go.

With Karma on Ethereum, we could be listed on Bittrex and other exchanges. It would be the same.

It's good to consider several options and weigh pros and cons of each, not just the ones we have a personal preference for. Also, to illustrate that multiple aspects are being considered.

As long as the swap is fair and people can trade it... then it is moving in the right direction... Why not something similar then ZEC... that 5% of the new blocks goes to dev and not having those massively premine amount of dev (when you check what happens with coins with premine on Yobit then you know what i mean)...

Considering how many billions of bad coins we have there would be no way to make it fair. Maybe with some future technology to investigate the blockchain but it's not something we can do now.

What's to prevent someone who stole coins, for example, from swapping their coins for the new coin?

Perhaps the best way is a fresh start.

What i mean with fair is:

For example the following:

1,000,000 KARMA coins will become 1 new KARMA coin. This will reduce the number of coins by 1/1,000,000 so only 76,076,000 million coins will be available.

1. Assign a escrow (the best would be Yobit infact) to do the swap.

2. All unswapped coins needs to be destroyed too. (again the best would be Yobit)

3. Create a new coin using ETH/ZEC/ or any other latest technology to make the coin up to date.

4. Find a team that work on the new coin in interest of the coins that they own in the current KARMA stake and not asking a ridicules 5% ... 10% .. or 12.5% premine... else i can also do the swap myself. Give me 12.5% premine, i will launch a coin, create a website and done... taking home 5 - 10 BTC....so the new coin needs to be done by people out of charity and not out of premine that they can dump.

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June 14, 2017, 01:36:31 AM
 #8184

Sorry but why do we need a swap? Can people not focus on the original KARMA coin... and get this one moving? Why should we even talk about swaps... Who will do the swap? You need a good escrow to do this, and not just the new dev that does the swap. Also it should already be listed on exchanges like Yobit. As why would anybody want to swap KARMA coin to another coin when that coin is even not listed on a exchange like KARMAToken in the past???

It has been mentioned before, but it doesn't mean that is the best way to go.

With Karma on Ethereum, we could be listed on Bittrex and other exchanges. It would be the same.

It's good to consider several options and weigh pros and cons of each, not just the ones we have a personal preference for. Also, to illustrate that multiple aspects are being considered.

As long as the swap is fair and people can trade it... then it is moving in the right direction... Why not something similar then ZEC... that 5% of the new blocks goes to dev and not having those massively premine amount of dev (when you check what happens with coins with premine on Yobit then you know what i mean)...

Considering how many billions of bad coins we have there would be no way to make it fair. Maybe with some future technology to investigate the blockchain but it's not something we can do now.

What's to prevent someone who stole coins, for example, from swapping their coins for the new coin?

Perhaps the best way is a fresh start.

What i mean with fair is:

For example the following:

1,000,000 KARMA coins will become 1 new KARMA coin. This will reduce the number of coins by 1/1,000,000 so only 76,076,000 million coins will be available.

1. Assign a escrow (the best would be Yobit infact) to do the swap.

2. All unswapped coins needs to be destroyed too. (again the best would be Yobit)

3. Create a new coin using ETH/ZEC/ or any other latest technology to make the coin up to date.

4. Find a team that work on the new coin in interest of the coins that they own in the current KARMA stake and not asking a ridicules 5% ... 10% .. or 12.5% premine... else i can also do the swap myself. Give me 12.5% premine, i will launch a coin, create a website and done... taking home 5 - 10 BTC....so the new coin needs to be done by people out of charity and not out of premine that they can dump.


So how do we avoid the billions in stolen Karma being exchanged for new Karma? That's the important question.

It could be a significant portion of the current supply (!).... 20-40 billion in stolen coins

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June 14, 2017, 06:30:30 AM
 #8185

Specs for the new coin. Let us know your thoughts.

Name: Karma or Karma Coin. ("karma coin" to prevent confusion with the word "karma" when used in conversations with others. Similar to how the average person may know of "Bitcoin" but if someone says "I have 3 bits" then it may be confusing, which may diminish the value of the initial impression.)

Platform: Ethereum

Initial Supply: 888,000. However, this number will fluctuate according to supply and demand, like the time-tested US money supply. This prevents too much inflation if the Karma economy is down, and prevents deflation as the economy expands. Importantly, it will ensure that the coin gets into more hands. The more the economy grows the more Karma there are. An increase in Karma supply will stimulate increased spending because it puts more Karma in the hands of users. Not all coins will be released at the same time. (Will have to think more about this.)

(We can also add a function to buy Karma when the price is cheap and sell when the price is expensive in order to stabilize the currency.)

Initial Market Cap: about $300,000. for 888,000 coins (?) Is it way too high?

ICO: No. It's better to show some value first, not just make promises as ICOs do. First, we'll show some value. The Karma price can increase commensurately with the value that we have produced. We will then leverage the increased market value for funding needs. Rinse, then repeat as we grow.

Companies that begin with too much capital on their hands usually end up wasting it. (See startups in the 90s and today.) It's also a way to provide fat paychecks and benefits to the people who run the companies behind ICOs.

With Karma, if an 'executive' or manager wants to benefit from Karma they will have to buy it on the open market just like everyone else. (Not that managers are necessary with Ethereum. We could set up a decentralized autonomous organization to manage most of Karma automatically, with 1 or 2 people to make sure everything is running smoothly.)

Raising funds can be had by increasing the money supply from the initial. (See above) This function can be democratic eventually, but initially I will manage it according to supply/demand until the 'sweet spot' is found.

Mining: In order to prevent dumping and distribute the currency more evenly to users, there will be no mining for the coin. However, in the spirit of Karma there will be online services that users can go to 'mine' Karma by adding social value to the community. (For example, posting a video on Karmaplex.com or writing a blog post) This will not only likely allow for better stability and increased long-term value, but will also expand awareness of Karma to more users than mining along could not have been able to do. Mining is too much of a silo. Under the old algorithm it is good and supports the coin. Under the new platform, it is not needed. But if users want some Karma for a little effort (that helps Karma to grow) they can have it. It's the future.

(However, we do have the option of doing merged mining with ether. In that case anyone who finds a block on ethereum would also get a reward from Karma. Their reward may not be enough Karma to satisfy them, however. This will probably change in future as Ethereum moves from POW to a mixed proof of stake and betting system called Casper.)

Ability to freeze accounts: Karma can have the (democratic) ability to freeze any specific account. We don't need to have this function but it is an option in the case of stolen coins. Any account that is frozen will still have their funds intact, but won't be able to move them. After an investigation is performed the account can be unfrozen (by democratic vote in the blockchain).

The Code: The code will be publicly available in the blockchain and can be checked an audited by everyone. (Something that can't be done with our current wallet unless you understand the code you're looking at.) You could read the entire code in less than 10 minutes. That's something you wouldn't be able to do with the current code, if at all. This will increase economic trust in Karma substantially, which is exactly what Karma needs right now.

Wallet: Already done Smiley

Blockchain explorer: Already done Smiley

Swap: No. Too much "bad" Karma. This is a fresh start. We all have Karma. Some of us have lots of Karma (like myself) and don't really want to lose it. But we also must think about the big picture and how performing a swap might severely hurt (or kill) Karma in future as those stolen coins are also swapped with the good ones.

Everyone here will have a chance to buy Karma before everyone else catches on to it. (But the release will be publicly-announced here. And everyone will have an opportunity to buy cheap coins and make up for their losses. Current market cap at which buyers can be found is about $2,000,000. And that's without adding any value. The new market cap will start out at about $300,000 with plenty of room for growth. To the MOON!)

New Thread: On the way.

One last note An interesting tidbit.. as the value of Ethereum rises, so does Karma! As more and more companies like Toyota, Microsoft, governments like Singapore and Russia, and banks like JP Morgan buy up ethereum for their services, the price will increase. (That's the #1 driver of the price of Ethereum the past year, which has seen an increase of about 30x. Another 30x? 1 trillion dollars in value. That's something that would help Karma tremendously. As more funds shift to ETH, more people would be willing to speculate in Karma because it will be priced in ETH)

By the way.. good karma always comes back!

Goodomy ["GOOD"] token here ∞ Rewards for customers of 700,000 retail stores in the US and millions more around the world
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June 14, 2017, 07:27:04 AM
 #8186

Hey nice. 8s, hehe i see what you did there. good luck.

Since you don't have intention to rivive this coin anymore and are completely doing something else i would suggest you to open an other thread. This is karma x11

i would also suggest you move on into bitcoin block chain. it will last long and stronger. you can user counterpart or other smarter chain on top of it. just a suggestion.

cheers
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June 14, 2017, 08:12:17 AM
 #8187

Specs for the new coin. Let us know your thoughts.

Name: Karma or Karma Coin. ("karma coin" to prevent confusion with the word "karma" when used in conversations with others. Similar to how the average person may know of "Bitcoin" but if someone says "I have 3 bits" then it may be confusing, which may diminish the value of the initial impression.)

Platform: Ethereum

Initial Supply: 888,000. However, this number will fluctuate according to supply and demand, like the time-tested US money supply. This prevents too much inflation if the Karma economy is down, and prevents deflation as the economy expands. Importantly, it will ensure that the coin gets into more hands. The more the economy grows the more Karma there are. An increase in Karma supply will stimulate increased spending because it puts more Karma in the hands of users. Not all coins will be released at the same time. (Will have to think more about this.)

(We can also add a function to buy Karma when the price is cheap and sell when the price is expensive in order to stabilize the currency.)

Initial Market Cap: about $300,000. for 888,000 coins.

ICO: No. It's better to show some value first, not just make promises as ICOs do. First, we'll show some value. The Karma price can increase commensurately with the value that we have produced. We will then leverage the increased market value for funding needs. Rinse, then repeat as we grow.

Companies that begin with too much capital on their hands usually end up wasting it. (See startups in the 90s and today.) It's also a way to provide fat paychecks and benefits to the people who run the companies behind ICOs.

With Karma, if an 'executive' or manager wants to benefit from Karma they will have to buy it on the open market just like everyone else. (Not that managers are necessary with Ethereum. We could set up a decentralized autonomous organization to manage most of Karma automatically, with 1 or 2 people to make sure everything is running smoothly.)

Raising funds can be had by increasing the money supply from the initial. (See above) This function can be democratic eventually, but initially I will manage it according to supply/demand until the 'sweet spot' is found.

Mining: In order to prevent dumping and distribute the currency more evenly to users, there will be no mining for the coin. However, in the spirit of Karma there will be online services that users can go to 'mine' Karma by adding social value to the community. (For example, posting a video on Karmaplex.com or writing a blog post) This will not only likely allow for better stability and increased long-term value, but will also expand awareness of Karma to more users than mining along could not have been able to do. Mining is too much of a silo. Under the old algorithm it is good and supports the coin. Under the new platform, it is not needed. But if users want some Karma for a little effort (that helps Karma to grow) they can have it. It's the future.

(However, we do have the option of doing merged mining with ether. In that case anyone who finds a block on ethereum would also get a reward from Karma. Their reward may not be enough Karma to satisfy them, however. This will probably change in future as Ethereum moves from POW to a mixed proof of stake and betting system called Casper.)

Ability to freeze accounts: Karma can have the (democratic) ability to freeze any specific account. We don't need to have this function but it is an option in the case of stolen coins. Any account that is frozen will still have their funds intact, but won't be able to move them. After an investigation is performed the account can be unfrozen (by democratic vote in the blockchain).

The Code: The code will be publicly available in the blockchain and can be checked an audited by everyone. (Something that can't be done with our current wallet unless you understand the code you're looking at.) You could read the entire code in less than 10 minutes. That's something you wouldn't be able to do with the current code, if at all. This will increase economic trust in Karma substantially, which is exactly what Karma needs right now.

Wallet: Already done Smiley

Blockchain explorer: Already done Smiley

Swap: No. Too much "bad" Karma. This is a fresh start. We all have Karma. Some of us have lots of Karma (like myself) and don't really want to lose it. But we also must think about the big picture and how performing a swap might severely hurt (or kill) Karma in future as those stolen coins are also swapped with the good ones.

Everyone here will have a chance to buy Karma before everyone else catches on to it. (But the release will be publicly-announced here. And everyone will have an opportunity to buy cheap coins and make up for their losses. Current market cap at which buyers can be found is about $2,000,000. And that's without adding any value. The new market cap will start out at about $300,000 with plenty of room for growth. To the MOON!)

New Thread: On the way.

One last note An interesting tidbit.. as the value of Ethereum rises, so does Karma! As more and more companies like Toyota, Microsoft, governments like Singapore and Russia, and banks like JP Morgan buy up ethereum for their services, the price will increase. (That's the #1 driver of the price of Ethereum the past year, which has seen an increase of about 30x. Another 30x? 1 trillion dollars in value. That's something that would help Karma tremendously. As more funds shift to ETH, more people would be willing to speculate in Karma because it will be priced in ETH)

By the way.. good karma always comes back!

Guys, excuse me...I would like to clarify something because of kosmost's few posts back, it may appear that I also approved of his plans as listed in this quotations. Please, for the record, these plans as listed above has ZERO approval from me.

I do not support these nor will I ever support these plans of kosmost as outlined above.


-east

BTW, it's nice to see the good community again Cheesy

----------=======oO( .Y .)Oo======----------
BTC Tip: 1CWoG7LUrMgqWH8vuqazAR86Zg2e57qcLp https://www.karmatoken.net/events KTN Tip: 1PLCHmq6PqeUv7M4dj8PtD6WDVFB1Nri9T 
-----------=======oO(   Y   )Oo======-----------
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June 14, 2017, 08:31:16 AM
 #8188

The biggest crypto drama ever - KARMA,only 3 years Cheesy

P.S. Finally I will pay on someone dev and  KARMA classic is ready Wink


                ,╓▄▄▄▄▄▄▄▄▄╓               
            ╓▄█████████████████▄╖           
         ╓▄█████▀▀'▒,,,,,╠'▀▀█████▄,       
       ,▓███▀╜,▄▄███████████▄▄,╙▀████╖     
      ▄███▀ ▄█████▀▀"``╙"▀▀█████▄ ▀███▄     
     ▓███╜╓████▀ ,▄▄█████▄▄, ▀████,╙███▌   
    ▓███`╔███▀ ╓▓███▀▀▀▀▀████╖ ▀███@"███▌   
   ]███▌┌███▌ ▐███         ███▄ ▐███ ▐███, 
   ▐███ ▐███ .███           ███  ███▌ ███▌ 
   ▐███ ▐███ '███           ███  ███▌ ███▌ 
   ]███@╙███@ ▀██▌        ,▄██▌ ▐███ ▐███` 
    ▓███ ▐███▄ ╙██▀╩     9███╜ ╔███▀,███▌   
     ████,╙███▌               ▓███╜,████   
      ▀███▄ ▀╜                 ▀▀ ▄███▌     
       ╙████▄,                 ╓▄████╜     
         ╙█████▄▄╓,       ,╓▄▄█████▀       
            ▀▀█████████████████▀▀           
                '▀▀▀▀▀▀▀▀▀▀▀'

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June 14, 2017, 08:38:39 AM
 #8189

Hey nice. 8s, hehe i see what you did there. good luck.

Since you don't have intention to rivive this coin anymore and are completely doing something else i would suggest you to open an other thread. This is karma x11

i would also suggest you move on into bitcoin block chain. it will last long and stronger. you can user counterpart or other smarter chain on top of it. just a suggestion.

cheers

Thanks for the suggestion.

But this is a coin revival. Of course.

Nobody wants to wait up to 2 days for Karma to be deposited into the account, as would be the case with Bitcoin.

A new thread has always been the intention. I was just waiting for you to provide the credentials (that I had access to before you changed it) so that the OP could change. You mentioned that you would do that if the community approved of my leadership but so far have not done that. What's the date you have in mind to close off community comment regarding the matter?

Goodomy ["GOOD"] token here ∞ Rewards for customers of 700,000 retail stores in the US and millions more around the world
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June 14, 2017, 08:42:06 AM
 #8190

Guys, excuse me...I would like to clarify something because of kosmost's few posts back, it may appear that I also approved of his plans as listed in this quotations. Please, for the record, these plans as listed above has ZERO approval from me.

I do not support these nor will I ever support these plans of kosmost as outlined above.


-east

BTW, it's nice to see the good community again Cheesy


No worries. But your last post in this thread was last year, about 10 months ago. I'm not sure what quote you're referring to. But perhaps it was me talking about our talks regarding KTN and Karma possibly working together somehow.

Anyway, we'll see how it goes.

Goodomy ["GOOD"] token here ∞ Rewards for customers of 700,000 retail stores in the US and millions more around the world
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June 14, 2017, 08:46:05 AM
 #8191

Guys, excuse me...I would like to clarify something because of kosmost's few posts back, it may appear that I also approved of his plans as listed in this quotations. Please, for the record, these plans as listed above has ZERO approval from me.

I do not support these nor will I ever support these plans of kosmost as outlined above.


-east

BTW, it's nice to see the good community again Cheesy


No worries. But your last post in this thread was several months ago. I don't see where I implied your approval.

Anyway, we'll see how it goes.

@kosmost you are not here from 3 years, and now you comeback like a boss? Are you good with mind?


                ,╓▄▄▄▄▄▄▄▄▄╓               
            ╓▄█████████████████▄╖           
         ╓▄█████▀▀'▒,,,,,╠'▀▀█████▄,       
       ,▓███▀╜,▄▄███████████▄▄,╙▀████╖     
      ▄███▀ ▄█████▀▀"``╙"▀▀█████▄ ▀███▄     
     ▓███╜╓████▀ ,▄▄█████▄▄, ▀████,╙███▌   
    ▓███`╔███▀ ╓▓███▀▀▀▀▀████╖ ▀███@"███▌   
   ]███▌┌███▌ ▐███         ███▄ ▐███ ▐███, 
   ▐███ ▐███ .███           ███  ███▌ ███▌ 
   ▐███ ▐███ '███           ███  ███▌ ███▌ 
   ]███@╙███@ ▀██▌        ,▄██▌ ▐███ ▐███` 
    ▓███ ▐███▄ ╙██▀╩     9███╜ ╔███▀,███▌   
     ████,╙███▌               ▓███╜,████   
      ▀███▄ ▀╜                 ▀▀ ▄███▌     
       ╙████▄,                 ╓▄████╜     
         ╙█████▄▄╓,       ,╓▄▄█████▀       
            ▀▀█████████████████▀▀           
                '▀▀▀▀▀▀▀▀▀▀▀'

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June 14, 2017, 08:46:50 AM
 #8192

The biggest crypto drama ever - KARMA,only 3 years Cheesy

P.S. Finally I will pay on someone dev and  KARMA classic is ready Wink
Indeed!

But may I ask, why didn't you step up before?

Karma Classic is an excellent idea, though. Let me know if you need some resources getting it ready. I would be glad to help.

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June 14, 2017, 08:49:21 AM
 #8193

Guys, excuse me...I would like to clarify something because of kosmost's few posts back, it may appear that I also approved of his plans as listed in this quotations. Please, for the record, these plans as listed above has ZERO approval from me.

I do not support these nor will I ever support these plans of kosmost as outlined above.


-east

BTW, it's nice to see the good community again Cheesy


No worries. But your last post in this thread was several months ago. I don't see where I implied your approval.

Anyway, we'll see how it goes.

@kosmost you are not here from 3 years, and now you comeback like a boss? Are you good with mind?

I have been coming to this thread for more than three years, since the coin came out.

If you have concerns, would you like to take charge? Someone has to, instead of just talking about doing something.

May I ask (because of your misplaced comment), what have you done for Karma this year?

You don't like drama, so why don't we just leave it be?

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June 14, 2017, 08:52:12 AM
 #8194

In case anyone missed it, the first line reads as follows:

"Specs for the new coin. Let us know your thoughts."

Constructive feedback is always appreciated!

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June 14, 2017, 08:56:21 AM
 #8195

Guys, excuse me...I would like to clarify something because of kosmost's few posts back, it may appear that I also approved of his plans as listed in this quotations. Please, for the record, these plans as listed above has ZERO approval from me.

I do not support these nor will I ever support these plans of kosmost as outlined above.


-east

BTW, it's nice to see the good community again Cheesy


No worries. But your last post in this thread was several months ago. I don't see where I implied your approval.

Anyway, we'll see how it goes.

@kosmost you are not here from 3 years, and now you comeback like a boss? Are you good with mind?

I have been coming to this thread for more than three years, since the coin came out.

If you have concerns, would you like to take charge? Someone has to, instead of just talking about doing something.

May I ask (because of your misplaced comment), what have you done for Karma this year?

You don't like drama, so why don't we just leave it be?

The only one who try to did something for these 3 years with karma ,thats East - KTN. Fact.


                ,╓▄▄▄▄▄▄▄▄▄╓               
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June 14, 2017, 09:08:42 AM
 #8196

The only one who try to did something for these 3 years with karma ,thats East - KTN. Fact.

More than one person can help, of course. And many of us did, not just East.

My question is, rather, What have you done for Karma in the past 3 years?

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June 14, 2017, 09:42:05 AM
 #8197

The only one who try to did something for these 3 years with karma ,thats East - KTN. Fact.

More than one person can help, of course. And many of us did, not just East.

My question is, rather, What have you done for Karma in the past 3 years?

You can't ask me nothing becouse you run away from here,and i am not leader of this project like you. My question is, where you were 3 years and why didn't you intervene when East started KTN,after you say watcing this thread?


                ,╓▄▄▄▄▄▄▄▄▄╓               
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         ╓▄█████▀▀'▒,,,,,╠'▀▀█████▄,       
       ,▓███▀╜,▄▄███████████▄▄,╙▀████╖     
      ▄███▀ ▄█████▀▀"``╙"▀▀█████▄ ▀███▄     
     ▓███╜╓████▀ ,▄▄█████▄▄, ▀████,╙███▌   
    ▓███`╔███▀ ╓▓███▀▀▀▀▀████╖ ▀███@"███▌   
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   ▐███ ▐███ .███           ███  ███▌ ███▌ 
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   ]███@╙███@ ▀██▌        ,▄██▌ ▐███ ▐███` 
    ▓███ ▐███▄ ╙██▀╩     9███╜ ╔███▀,███▌   
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            ▀▀█████████████████▀▀           
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June 14, 2017, 09:58:13 AM
 #8198

The only one who try to did something for these 3 years with karma ,thats East - KTN. Fact.

More than one person can help, of course. And many of us did, not just East.

My question is, rather, What have you done for Karma in the past 3 years?

You can't ask me nothing becouse you run away from here,and i am not leader of this project like you. My question is, where you were 3 years and why didn't you intervene when East started KTN,after you say watcing this thread?

Then I suppose we shouldn't be asking these types of questions. It would be creating more drama, and it's probably better for Karma to look forward to a brighter future. (And no, I didn't run away. I was being personally attacked by certain members of the community as well as my own team because I refused to allow insider trading and announced that the LLC would be shut down to everyone at the same time. But one person who did so posted recently in support of the new efforts, so that should be something. No hard feelings, in the spirit of Karma.)

But please don't minimize the efforts of the good people in this thread, including the 4 community members who took over the coin from the developer when he abandoned the coin (Shawn, Bitwho, East, and myself). To say that only East has done something is missing important ingredients. It would not have survived without these four. All one would have to do is check this thread, the old thread, and the subreddit to find the real story. But anyone who was actually part of the community at the time knows how 90% of the work got done.)

Let's move on, shall we? No point in posing emotional arguments like these that can never be reasonably satisfied.

And please let us know how Classic is going. I think you should do it (not that my vote matters). Would we be able to swap our current Karma coins? When do you plan to start?

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June 14, 2017, 11:32:30 AM
 #8199

Sorry but why do we need a swap? Can people not focus on the original KARMA coin... and get this one moving? Why should we even talk about swaps... Who will do the swap? You need a good escrow to do this, and not just the new dev that does the swap. Also it should already be listed on exchanges like Yobit. As why would anybody want to swap KARMA coin to another coin when that coin is even not listed on a exchange like KARMAToken in the past???

It has been mentioned before, but it doesn't mean that is the best way to go.

With Karma on Ethereum, we could be listed on Bittrex and other exchanges. It would be the same.

It's good to consider several options and weigh pros and cons of each, not just the ones we have a personal preference for. Also, to illustrate that multiple aspects are being considered.

As long as the swap is fair and people can trade it... then it is moving in the right direction... Why not something similar then ZEC... that 5% of the new blocks goes to dev and not having those massively premine amount of dev (when you check what happens with coins with premine on Yobit then you know what i mean)...

Considering how many billions of bad coins we have there would be no way to make it fair. Maybe with some future technology to investigate the blockchain but it's not something we can do now.

What's to prevent someone who stole coins, for example, from swapping their coins for the new coin?

Perhaps the best way is a fresh start.

What i mean with fair is:

For example the following:

1,000,000 KARMA coins will become 1 new KARMA coin. This will reduce the number of coins by 1/1,000,000 so only 76,076,000 million coins will be available.

1. Assign a escrow (the best would be Yobit infact) to do the swap.

2. All unswapped coins needs to be destroyed too. (again the best would be Yobit)

3. Create a new coin using ETH/ZEC/ or any other latest technology to make the coin up to date.

4. Find a team that work on the new coin in interest of the coins that they own in the current KARMA stake and not asking a ridicules 5% ... 10% .. or 12.5% premine... else i can also do the swap myself. Give me 12.5% premine, i will launch a coin, create a website and done... taking home 5 - 10 BTC....so the new coin needs to be done by people out of charity and not out of premine that they can dump.


So how do we avoid the billions in stolen Karma being exchanged for new Karma? That's the important question.

It could be a significant portion of the current supply (!).... 20-40 billion in stolen coins

Stolen coins.... you mean the coins on cryptsy.... you cannot just start a new coin without giving people that have KARMA coins a fair partial of the new coin else how will you answer the question for those  560 Billion coins that were NOT stolen.... ETC also have for MILLIONS of stolen coins!!!!! It is all simple. Continue with the original KARMA coin like what they are doing with MOON etc and give some value to KARMA... or starting scam swaps what happened with KARMAToken...

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June 14, 2017, 11:35:09 AM
 #8200

Specs for the new coin. Let us know your thoughts.

Name: Karma or Karma Coin. ("karma coin" to prevent confusion with the word "karma" when used in conversations with others. Similar to how the average person may know of "Bitcoin" but if someone says "I have 3 bits" then it may be confusing, which may diminish the value of the initial impression.)

Platform: Ethereum

Initial Supply: 888,000. However, this number will fluctuate according to supply and demand, like the time-tested US money supply. This prevents too much inflation if the Karma economy is down, and prevents deflation as the economy expands. Importantly, it will ensure that the coin gets into more hands. The more the economy grows the more Karma there are. An increase in Karma supply will stimulate increased spending because it puts more Karma in the hands of users. Not all coins will be released at the same time. (Will have to think more about this.)

(We can also add a function to buy Karma when the price is cheap and sell when the price is expensive in order to stabilize the currency.)

Initial Market Cap: about $300,000. for 888,000 coins.

ICO: No. It's better to show some value first, not just make promises as ICOs do. First, we'll show some value. The Karma price can increase commensurately with the value that we have produced. We will then leverage the increased market value for funding needs. Rinse, then repeat as we grow.

Companies that begin with too much capital on their hands usually end up wasting it. (See startups in the 90s and today.) It's also a way to provide fat paychecks and benefits to the people who run the companies behind ICOs.

With Karma, if an 'executive' or manager wants to benefit from Karma they will have to buy it on the open market just like everyone else. (Not that managers are necessary with Ethereum. We could set up a decentralized autonomous organization to manage most of Karma automatically, with 1 or 2 people to make sure everything is running smoothly.)

Raising funds can be had by increasing the money supply from the initial. (See above) This function can be democratic eventually, but initially I will manage it according to supply/demand until the 'sweet spot' is found.

Mining: In order to prevent dumping and distribute the currency more evenly to users, there will be no mining for the coin. However, in the spirit of Karma there will be online services that users can go to 'mine' Karma by adding social value to the community. (For example, posting a video on Karmaplex.com or writing a blog post) This will not only likely allow for better stability and increased long-term value, but will also expand awareness of Karma to more users than mining along could not have been able to do. Mining is too much of a silo. Under the old algorithm it is good and supports the coin. Under the new platform, it is not needed. But if users want some Karma for a little effort (that helps Karma to grow) they can have it. It's the future.

(However, we do have the option of doing merged mining with ether. In that case anyone who finds a block on ethereum would also get a reward from Karma. Their reward may not be enough Karma to satisfy them, however. This will probably change in future as Ethereum moves from POW to a mixed proof of stake and betting system called Casper.)

Ability to freeze accounts: Karma can have the (democratic) ability to freeze any specific account. We don't need to have this function but it is an option in the case of stolen coins. Any account that is frozen will still have their funds intact, but won't be able to move them. After an investigation is performed the account can be unfrozen (by democratic vote in the blockchain).

The Code: The code will be publicly available in the blockchain and can be checked an audited by everyone. (Something that can't be done with our current wallet unless you understand the code you're looking at.) You could read the entire code in less than 10 minutes. That's something you wouldn't be able to do with the current code, if at all. This will increase economic trust in Karma substantially, which is exactly what Karma needs right now.

Wallet: Already done Smiley

Blockchain explorer: Already done Smiley

Swap: No. Too much "bad" Karma. This is a fresh start. We all have Karma. Some of us have lots of Karma (like myself) and don't really want to lose it. But we also must think about the big picture and how performing a swap might severely hurt (or kill) Karma in future as those stolen coins are also swapped with the good ones.

Everyone here will have a chance to buy Karma before everyone else catches on to it. (But the release will be publicly-announced here. And everyone will have an opportunity to buy cheap coins and make up for their losses. Current market cap at which buyers can be found is about $2,000,000. And that's without adding any value. The new market cap will start out at about $300,000 with plenty of room for growth. To the MOON!)

New Thread: On the way.

One last note An interesting tidbit.. as the value of Ethereum rises, so does Karma! As more and more companies like Toyota, Microsoft, governments like Singapore and Russia, and banks like JP Morgan buy up ethereum for their services, the price will increase. (That's the #1 driver of the price of Ethereum the past year, which has seen an increase of about 30x. Another 30x? 1 trillion dollars in value. That's something that would help Karma tremendously. As more funds shift to ETH, more people would be willing to speculate in Karma because it will be priced in ETH)

By the way.. good karma always comes back!

New Karma from kosmost without swap Karma x11? Grin I think its really bad idea, we all saw how the kosmost abandoned Karma coin, and now he appears with a new super idea leaving all the owners of the old Karma x11 overboard. Thank you, I do not need one more ethereum Karma especially with such a inconsistent developer!

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