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Author Topic: [ANN][KARM] Karma / ₭ / X11  (Read 487996 times)
easteagle13
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May 10, 2014, 04:14:09 AM
 #881

Thanks for those who replied to my inquire about the amount of coins I would expect from mining this coin.

So, I downloaded the wallet, but there are not active connections to the network!!  So no sync.

Any help appreciated.

Mind you, it is a bit concerning when there are no connections to a wallet for a coin I'm thinking of mining.

Hi, If you still need help kindly visit this link http://www.reddit.com/r/KarmaTeam/comments/24z7nd/welcome_to_our_new_karma_subreddit/, then scroll down to the post of alexpsy there is also a step by step help there.


TIP ME ₭ARMA:  KJeEKJv1LXHM8cYeRgQG3q87BFA4W3sTGg  FOR KARMA TRANSLATION BUDGET SEND TO: KHvkhA7RTFnG8N5RWPB48gs2y8K1od6xF4
OFF. ₭ARMA FB PAGE: https://www.facebook.com/karmacoin.me. http://lill.com
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kosmost
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May 10, 2014, 04:16:48 AM
 #882


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.


that is where you are completely wrong.... if you move to PoS now you don't force whales to buy your coin... what you do is actually give Whales (those people who own large portions of the coin supply) the ability keep on mining while everyone else is cut out of the loop.
[snips]

Good point. And this is exactly why we created the quantum period for Karmashares and are "laying low" right now. As I have said a couple of times before we want to give the Karma community as much of a chance as possible to own as much of the company as possible before the "whales" (big and small) and the rest of the marketplace realizes what's going on.

We want to give the community a chance to multiple their coins and get a piece of an even bigger pie that is the long-term passive income of Karmashares.

Right now someone that spend $25 to invest with Karmashares has 0.1280% of the profit share. This may not seem like much of a number to look at. But when you factor in passive income for as long as Karmashares exists, it's a tremendous bang for your buck.

Let's say that over the course of the next year Lill does so-so and captures only 0.5% of the US search market. Then Google thinks what we're doing is cool and wants to buy Lill. We then decide to sell it for what it's worth. Their $25 investment gets a fat dividend of $6,400 and they get to keep their ownership of Karmashares so that they receive profits from all the other projects (and companies that we might sell) for life.

When the marketplace realizes this tremendous investment opportunity and the awesome system that we have created, you can bet your bottom dollar that other coins will be scrambling to file for an LLC and copy our PoC implementation.

We are leaders, not followers. This will give us and every member of Karma a tremendous advantage.
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May 10, 2014, 04:18:39 AM
 #883


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.


that is where you are completely wrong.... if you move to PoS now you don't force whales to buy your coin... what you do is actually give Whales (those people who own large portions of the coin supply) the ability keep on mining while everyone else is cut out of the loop.

I really think you have a fundamental lack of understanding how the mining and trading works.

for the most part Miners (even the really big ones) are not the ones hoarding coins they mine and then sell most of their coins for a profit and to pay off electricity bills.. and yet more they sell to diversify risk.

the people who are manipulating the markets, people like wolong and fontas are not miners they are traders ... people who either got rich trading off the original bitcoin boom, hacking exchanges, dumping premined coins or in the case of Wolong are backed by rich fiat investors... what they do (and what is also highly illegal) is use their vast holdings to manipulate the market prices so that they can either Sell high on a pump or buy low on a dump.. they do this with coins and trade bots to place fake orders and create either buying or selling pressure, they don't do it with mining equipment.

if you move to a PoS coin.. all you are doing is making the whales richer because it is only those big whales who can mine PoS coins and thus create more currency for themselves to sell.

that is what Proof of stake is... the more coins YOU own.. the more YOU can mine.. this provides no incentive to a whale (or anyone else for that matter) that does not have a stake in your coin at all.
it only provides incentive to those people who already have large stakes in the coin... and sadly that is not me and I'm guessing its probably not you either.






Early adopters by rights should and do benefit the most. If someone invested a few thousand dollars when the coins was worth 15 Litoshi and holds 1 Billion of them, good for them - they took the risk of buying a coin that was worth next to nothing. There should not be an equal or greater benefit flowing to those who buy in later on compared to those who have been in on the coin since the beginning. The difference is I want whales to buy there way to a billion (or whatever that target is) rather than mine there way there with ASICs that no GPU can compete with. Only a few have ASICs but everyone has Bitcoin - The beauty of POS is it encourages people to buy. If they want to mint large stacks of coin then they need to BUY large stacks of coin - that volume is what will do us a world of good. No individual is going to invest 10s of 1000s of USD or more into a coin just because it has a LLC behind it - it must have volume and massive interest from regular traders to make them money, otherwise all they are is a bagholder hoping that the projects will somehow come to life and make him a millionaire. In the real world good ideas don't mean jack unless backed by the means to make them happen - it is my opinion that POS is a step in the right direction to attracting the big fish we are all waiting on to take us to the moon.

This is a good discussion though, healthy for a community to debate different points of view - just as long as the direction of the coin is set. If there were to ever be a reneging on the POS announcement for example you can guarantee we will dumped like a hot potato. If there is one thing worse than indecision in the eyes of investors its flip-flopping Smiley

ADD: Cinnicoin is one to do some looking into Kosmost - they have done a good job with the transition to POS from POW.
easteagle13
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May 10, 2014, 04:25:57 AM
 #884



[iPOCO] I am proud to announce our new IPOCO.



///Goal?
* Provide an online place for buying Karma related clothes/items.

///How?
* Using Spreadshirt platform, they take care of everything (printing, sells, invoices, customer support)

///What are the benefits?
Each item is set at a minimum price + our benefit.

Our net benefits are :
Full K-tee : 3 euros
Simple K-tee : 2 euros
K-Ecobag : 3 euros
K-Cap : 3 euros
K-Tie : 2 euros
Keddy Bear : 2 euros
Chill Out : 2 euros
K-Mug : 2 euros
K-chain : 1 euro
K-Badge : 0.50 euro
KPhone Kase : 1 euro

///What will you do with benefit?
-All benefit goes to KarmasharesLLC, all will be transparent as usual.
With benefits in Euro, we will buy BTC at best market rate then distribute BTC to KarmasharesLLC shareholders.

///What do we need for this IPOCO?

-People making fun Karma designs, best ones will be available on our Shop.

///Costs?
-One cool .com domain name
-60 euros to have the premium account for 6 months, or 100 euros for 12 months.

///Who is in?
-Delaforetnoire, project leader
-you?

///FIRST DRAFT : We found a cool name, FABRI₭ , what do you think?

http://fabrik.spreadshirt.net/

We must find a good domain name for our shop, any ideas?

Hey, count me in! Is it possible to sell HAND PAINTED item, it will be limited in production but every piece will be personalized and unique! Very professional looking lay out you got there man. And to think it is not even the final web design. Go karma!

TIP ME ₭ARMA:  KJeEKJv1LXHM8cYeRgQG3q87BFA4W3sTGg  FOR KARMA TRANSLATION BUDGET SEND TO: KHvkhA7RTFnG8N5RWPB48gs2y8K1od6xF4
OFF. ₭ARMA FB PAGE: https://www.facebook.com/karmacoin.me. http://lill.com
Chargin
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May 10, 2014, 04:36:59 AM
 #885

To get a better idea of what people think about the PoS announcement. The key questions/variables for the announcement are as follows:

1. Should PoS it be implemented at all?

Estimated date:
2. July 28, 2014

Conditions for the change:
3. PoS tests before implementation date go well; and
4. The price of Karma remains below a certain threshold for the July 14-July 28 period.

PoS details:
5. "Interest" of approximately 6.26% per annum (0.5% per 30 days)
6. Holding period of 30 days
7. Coin cap, 92 billion? "until no further coins remain to be discovered"
8. An unknown amount of KarmaShares for holding the coins in the wallet for 30 days.

My thoughts:
1. Yes it should be implemented.
2. It is best to let the people who are implementing the change set this date to make sure it can be done correctly. The sooner it can be done the better.
3. Of course.
4. The decision as to whether the coin goes to PoS should not be based on current or future prices at all.
5. I consider the interest to be similar to inflation, only the holders purchasing power remains the same (all other things being equal). For anyone not holding the currency it would appear as the inflation rate is 6%. The inflation rate should be more in line with developed economies at around 1.5-2.5% per annum.
6. Reasonable.
7. I do not believe there should be a coin market cap. If inflation works up to the market cap it should work beyond it. There is no need to make a two stage process three stages. Either go PoS with no inflation or go PoS and keep inflation. I believe PoS and keep inflation is better.
8. I don't have an issue with a company giving me some of its shares for free. However, Karma LLC should not piggy back on Karma's announcement that it might be going to PoS. The entities should be kept as separate as possible to prevent the value of Karma being pegged against a start-up company. I mean no offense but most start-up companies fail.

Chargin.

Vote to get Karma listed on this exchange: https://hitbtc.com/vote (sign up to get a vote for 10 points, vote once every 24 hrs)
kosmost
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May 10, 2014, 05:14:06 AM
 #886

To get a better idea of what people think about the PoS announcement. The key questions/variables for the announcement are as follows:

1. Should PoS it be implemented at all?

Estimated date:
2. July 28, 2014

Conditions for the change:
3. PoS tests before implementation date go well; and
4. The price of Karma remains below a certain threshold for the July 14-July 28 period.

PoS details:
5. "Interest" of approximately 6.26% per annum (0.5% per 30 days)
6. Holding period of 30 days
7. Coin cap, 92 billion? "until no further coins remain to be discovered"
8. An unknown amount of KarmaShares for holding the coins in the wallet for 30 days.

My thoughts:
1. Yes it should be implemented.
2. It is best to let the people who are implementing the change set this date to make sure it can be done correctly. The sooner it can be done the better.
3. Of course.
4. The decision as to whether the coin goes to PoS should not be based on current or future prices at all.
5. I consider the interest to be similar to inflation, only the holders purchasing power remains the same (all other things being equal). For anyone not holding the currency it would appear as the inflation rate is 6%. The inflation rate should be more in line with developed economies at around 1.5-2.5% per annum.
6. Reasonable.
7. I do not believe there should be a coin market cap. If inflation works up to the market cap it should work beyond it. There is no need to make a two stage process three stages. Either go PoS with no inflation or go PoS and keep inflation. I believe PoS and keep inflation is better.
8. I don't have an issue with a company giving me some of its shares for free. However, Karma LLC should not piggy back on Karma's announcement that it might be going to PoS. The entities should be kept as separate as possible to prevent the value of Karma being pegged against a start-up company. I mean no offense but most start-up companies fail.

Chargin.

Thanks for your feedback on this.
compumine
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May 10, 2014, 05:22:30 AM
 #887

Thanks for those who replied to my inquire about the amount of coins I would expect from mining this coin.

So, I downloaded the wallet, but there are not active connections to the network!!  So no sync.

Any help appreciated.

Mind you, it is a bit concerning when there are no connections to a wallet for a coin I'm thinking of mining.

This problem came up a couple of pages back. You'll need a new peers.dat file. Please refer from this post; https://bitcointalk.org/index.php?topic=579973.msg6588934#msg6588934

We will include this shortly in the new wallet file for new wallet downloaders (most of us already have peers)

Our apologies for the inconvenience

Thanks for the help.  I will mine this coin now...

 *Image Removed*
altcoingood
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May 10, 2014, 06:56:38 AM
 #888

Thanks for those who replied to my inquire about the amount of coins I would expect from mining this coin.

So, I downloaded the wallet, but there are not active connections to the network!!  So no sync.

Any help appreciated.

Mind you, it is a bit concerning when there are no connections to a wallet for a coin I'm thinking of mining.
this node is always up: altcoin.dk:9432

you can just add it in the console.
Iris Cea7k5
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May 10, 2014, 07:43:03 AM
 #889

Great job karm Team! your hard work is reflected in the recent price hike. Keep up the good

work!
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May 10, 2014, 08:02:38 AM
 #890

So, the answer to the question:

"Can I Become a Shareholder Without Exchanging Coins?" - Of course. Starting around May 11 if you keep 10,000,000 coins in your wallet for 30+ days you'll automatically be eligible for membership. (In fact, we'll put you down as a shareholder even if you forget to notify us.) The exact date this will begin will be posted to this website (http://karmashares.com/).

Is between 14 and 28 July. Or am I missing something.
easteagle13
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May 10, 2014, 08:21:17 AM
 #891

So, the answer to the question:

"Can I Become a Shareholder Without Exchanging Coins?" - Of course. Starting around May 11 if you keep 10,000,000 coins in your wallet for 30+ days you'll automatically be eligible for membership. (In fact, we'll put you down as a shareholder even if you forget to notify us.) The exact date this will begin will be posted to this website (http://karmashares.com/).

Is between 14 and 28 July. Or am I missing something.

Hi, I think it means that after May 11,2014 if somebody keeps 10M + in his Karma wallet he will automatically be eligible for the corresponding profit share for the succeeding quarter of Karmashares LLC, which has nothing to do with the decision whether to push thru with PoS or not, which is slated to be decided in July 2014.

TIP ME ₭ARMA:  KJeEKJv1LXHM8cYeRgQG3q87BFA4W3sTGg  FOR KARMA TRANSLATION BUDGET SEND TO: KHvkhA7RTFnG8N5RWPB48gs2y8K1od6xF4
OFF. ₭ARMA FB PAGE: https://www.facebook.com/karmacoin.me. http://lill.com
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May 10, 2014, 08:39:55 AM
 #892

So, the answer to the question:

"Can I Become a Shareholder Without Exchanging Coins?" - Of course. Starting around May 11 if you keep 10,000,000 coins in your wallet for 30+ days you'll automatically be eligible for membership. (In fact, we'll put you down as a shareholder even if you forget to notify us.) The exact date this will begin will be posted to this website (http://karmashares.com/).

Is between 14 and 28 July. Or am I missing something.

Hi, I think it means that after May 11,2014 if somebody keeps 10M + in his Karma wallet he will automatically be eligible for the corresponding profit share for the succeeding quarter of Karmashares LLC, which has nothing to do with the decision whether to push thru with PoS or not, which is slated to be decided in July 2014.
That is true, thank you  Smiley

/// ๑۩۞[ANN][ ₭ARMAtoken]
/KarmaToken - Karma Society's Currency Now Based On Counterparty Platform/ https://bitcointalk.org/index.php?topic=1667865.msg16745896#msg16745896
http://easteagle13.wixsite.com/ctgtoken * The GOOD Crypto Guild
p4r4m0un7
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May 10, 2014, 08:56:17 AM
 #893

I see a debate is going on about switching to POS. Mahatma Gandhi says "An ounce of practice is worth more than tons of preaching". I am saying that if somebody continue to do what he is doing, he will continue to achieve what he is achieving. Act now. There is a lot of preaching to do or do not. To that I say -  In theory, there is no difference between theory and practice, but in practice, there is. We are not in the era of Bitcoin anymore. I don`t understand why this is not clear to somebody. The times when we where mining with cards in plastic crates into basements are over. Gone. The rules are different. Things just have to change way more faster. No coin has 4-6 years like Bitcoin. Now is a matter of days, weeks and in worst case scenario - months. The coin with less than 10GHs network can not be visible. Why are you continuing to insist that POW should continue? The big idea is to develop big doing good corporation by Karmashares. This is my perception of Karma. And believe me, this guy kosmost can do it. He just can. I don`t care if somebody share this opinion. Meanwhile, it is imperative for Karma to be visible. And this can only be achieved through constant changes. We should not be afraid of changes, this is what the leaders do. We don`t need to invent something to raise Karma, just do little constant innovations with short term clear and visible results. And innovation is very simple thing - to add the missing to already existing, in order to send it into the area of success. POS is just one of the missing things that we need to add. I am sure that it is not the last. Don`t be afraid of the change, embrace it.
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May 10, 2014, 09:08:55 AM
 #894

I see a debate is going on about switching to POS. Mahatma Gandhi says "An ounce of practice is worth more than tons of preaching". I am saying that if somebody continue to do what he is doing, he will continue to achieve what he is achieving. Act now. There is a lot of preaching to do or do not. To that I say -  In theory, there is no difference between theory and practice, but in practice, there is. We are not in the era of Bitcoin anymore. I don`t understand why this is not clear to somebody. The times when we where mining with cards in plastic crates into basements are over. Gone. The rules are different. Things just have to change way more faster. No coin has 4-6 years like Bitcoin. Now is a matter of days, weeks and in worst case scenario - months. The coin with less than 10GHs network can not be visible. Why are you continuing to insist that POW should continue? The big idea is to develop big doing good corporation by Karmashares. This is my perception of Karma. And believe me, this guy kosmost can do it. He just can. I don`t care if somebody share this opinion. Meanwhile, it is imperative for Karma to be visible. And this can only be achieved through constant changes. We should not be afraid of changes, this is what the leaders do. We don`t need to invent something to raise Karma, just do little constant innovations with short term clear and visible results. And innovation is very simple thing - to add the missing to already existing, in order to send it into the area of success. POS is just one of the missing things that we need to add. I am sure that it is not the last. Don`t be afraid of the change, embrace it.

I agree!
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May 10, 2014, 09:17:58 AM
 #895

We are seeing large dumpings from single persons here - This is good! These people likely bought hundreds of millions when the coin was worth 14-15 Litoshi - by dumping we now have people that have bought those coins at 34-40 Litoshi. With each dumping we thin out the sell walls a little bit more. Most people who buy for say 34 wouldn't consider selling until they at the very least doubled their money based on what they have seen happen with PND and PANDA and the other coins that went up 200-400% in the matter of a day or two.

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May 10, 2014, 10:37:49 AM
 #896

So, the answer to the question:

"Can I Become a Shareholder Without Exchanging Coins?" - Of course. Starting around May 11 if you keep 10,000,000 coins in your wallet for 30+ days you'll automatically be eligible for membership. (In fact, we'll put you down as a shareholder even if you forget to notify us.) The exact date this will begin will be posted to this website (http://karmashares.com/).

Is between 14 and 28 July. Or am I missing something.

Hi, I think it means that after May 11,2014 if somebody keeps 10M + in his Karma wallet he will automatically be eligible for the corresponding profit share for the succeeding quarter of Karmashares LLC, which has nothing to do with the decision whether to push thru with PoS or not, which is slated to be decided in July 2014.
That is true, thank you  Smiley

So, on 11 June or so we shall be able to see this addresses here http://karmashares.com/explorer-v01?
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May 10, 2014, 11:55:29 AM
 #897

Binding Karma POS with future price is the same as not deciding what to do. This is strong negative signal to the markets. It is the same as saying "OK, maybe we will try". Personally, I prefer what Yoda said "No, try not. Do or do not. There is no try". Do not bind going to POS with future price. It is a huge mistake. If you decide not to go POS, OK, say we shall not POS. Or we will do it. It is really confusing for everyone, when there is announcement for going to POS, and then we are reading that it may not happen if price is X. This must not happen.
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May 10, 2014, 12:32:59 PM
 #898

Binding Karma POS with future price is the same as not deciding what to do. This is strong negative signal to the markets. It is the same as saying "OK, maybe we will try". Personally, I prefer what Yoda said "No, try not. Do or do not. There is no try". Do not bind going to POS with future price. It is a huge mistake. If you decide not to go POS, OK, say we shall not POS. Or we will do it. It is really confusing for everyone, when there is announcement for going to POS, and then we are reading that it may not happen if price is X. This must not happen.

It must happen. We have voted on it and it has been announced with a block target and an estimated date, any attempt to go back on that would be catastrophic. I also agree that is a bad move to instill doubt by making polls and asking questions like "At what price level do we decide not to go POS when the time comes?" I guarantee you it will be manipulated one way or the other come the day of reckoning. We MUST have a solid set of details set in stone for the POS transition. No if's, no buts, no 'let's see what the price is' nonsense. In the words of Captain Picard - "Make it so."

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May 10, 2014, 12:54:38 PM
 #899

+1
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May 10, 2014, 01:11:12 PM
 #900

Binding Karma POS with future price is the same as not deciding what to do. This is strong negative signal to the markets. It is the same as saying "OK, maybe we will try". Personally, I prefer what Yoda said "No, try not. Do or do not. There is no try". Do not bind going to POS with future price. It is a huge mistake. If you decide not to go POS, OK, say we shall not POS. Or we will do it. It is really confusing for everyone, when there is announcement for going to POS, and then we are reading that it may not happen if price is X. This must not happen.

It must happen. We have voted on it and it has been announced with a block target and an estimated date, any attempt to go back on that would be catastrophic. I also agree that is a bad move to instill doubt by making polls and asking questions like "At what price level do we decide not to go POS when the time comes?" I guarantee you it will be manipulated one way or the other come the day of reckoning. We MUST have a solid set of details set in stone for the POS transition. No if's, no buts, no 'let's see what the price is' nonsense. In the words of Captain Picard - "Make it so."



I meant putting doubts on the table must not happen. I am strong POS supporter. But keep in mind that this transition is very, very complicated. So we are not into position to demand POS. And if you ask me we are not into position to demand anything. If it can happen, it will be good. If not, other suggestions will be welcome. After all we are just brainstorming here. I now saw that Alphi involved the word "greed" into one of his posts, so let me put my point of view. I am mining from zero hour (day one). When we were at 8-11 litoshi I was buying, because I wanted to support Karma and this was my part. At 73 litoshi I didn`t sell. You will not see my coins on the market when the price is 73 satoshi also. I was ready to give big part of my wallet to someone who was able to push Karma on Mintpal. The coin should flow, not stay in several hands. Many coins in one hand is really bad for itself. Most people do not understand it, but it is true. When it flows into stupid hands though, we see sell walls, which is worst. By holding some coins I see my part of preventing downtrend inspired by such dumb morons, that are undermining our biggest goal - Karmashare. So this is not greed. It is a common sense.

P.S. I`ve lied about not selling at any price. I will have to sell some at 500 satoshi, so kosmost can go on a nice vacation, as I have promised.
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