That's all talk at this stage, every coin wants to attract big investors but you cant attract the big fish if the smaller fish aren't interested.
I can't think of any coin (besides maybe Bitcoin in some ways, though they're more loosely organized) that is doing what we're doing.
Right now even the scamcoin of the century 'PANDA' is at over 1000 Litecoin volume for the past 24 hours.
PANDA and PND are both over 1000 LTC volume today (a lot of people are quite confused now, to be sure). I don't know what kind of value either coin offers, but let's take a look in a week or two to see where they both are. (Every week there is a new "hot" coin.. Happens all the time. What we're dong is building stability and value.)
We need to be pulling volume away from the scamcoins. If we can't then we have a problem - regardless of what we believe or feel, that people are prepared to invest in Panda over Karma is an issue that needs to be addressed - and has been addressed to some extent with the POS announcement, good on you for listening to the majority on that one.
We're just getting started. We cannot expect a "clean" coin like Karma to pull in major volume at this point. Give it some time.
The new coins that have done major volume spikes are mostly scamcoins. We're doing something much different.
It takes a real driving force as seen with Blackcoin to drive a coins price up consistently - we have great ideas and great people in this community and now we need to stick together and push forward and support the upcoming shift to POS - If you are good with mathematics you could contribute! If you are good with marketing you could contribute! There is something for everyone here and it will be the solidarity (or lack of solidarity) that will determine where we are headed.
Blackcoin's price doesn't seem to be consistent or stable. I don't think Karma is about short-term gains as exhibited by Blackcoin, Asiacoin, Whitecoin and other similar coins, but long-term value, stability, and strength (and legitimacy
). We're building the foundations for that now. This isn't a pump-and-dump coin.
There is no shame in copying ideas from other coins that work - its called business! There is however great shame in deciding to be a laggard and miss the opportunity to gain longterm investors because certain people want to stick to the fundamentals - the fundamentals that did not stop Karma from being dumped from Satoshi to Litoshi I might add. The POS change is needed more than ever with Scrypt Asics now out
Agreed. If you could point us to other coins that have made the transition from PoW to PoS successfully (in an unplanned way) it would be appreciated. I would love to research as much as I can.
people want to secure their investments and POS is how this is currently being done.
The stack of more than 8 billion coins for Karmashares would like to be added to that line
Proof of work will create HUGE whales who mined billions for nothing but electricity, whereas POS once implemented will force these people to BUY hundreds and hundreds of Litecoins worth of Karma on the exchange if they want to hold billions. That is the security people are now demanding - that if a whale wants coins then they will have to buy them which will cause each and every persons bag to increase in value.
Agreed, but that is not the whole equation. Also, there's no way to predict the effects of our shift to PoS (which probably warrants caution). There are no examples or history of other coins that we can draw from.
I'm not saying that we don't want to do PoS. PoS may do us well. What I am saying is that to rush into PoS would be foolish because it is such a fundamental change.
We're creating long-term value, not just short term gains. We can do that through PoW, PoS, PoC, and more. (And next month there will be something else. PoSX, anyone?) But at each step along the way, let's consider the pros and cons carefully.
also, I will stress this again.. the "huge" whales amount to no more than a rounding error for the type of investors we are positioning Karmashares for. we're not saying that they will invest next week or next month. But we are sure to trend upwards because of the value that we are adding that will make us attractive to a wider market.
And let us not forget our purpose, which is doing good things. This also includes being a good investment. Not just something that shoots up to 400 litoshi tomorrow for no good reason.
When those coins are long gone we will not only still be here but much bigger than we are now. And it will be because of the steps we are taking now to secure a bright and good future.