[ANN][KARM] Karma / ₭ / X11

[cryptowho]

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[Alphi]

PoC system for now is doing its job, we are watching how other coins deal with recent PoS. Value doesn't grow so much for most of them, just look at Mintcoin  

PoS coins don't grow at the moment because of the same fundamental issue that all coins have.. Lack of buyers.

[Alphi]

do me a test. remove the current config file and make one with "port=" of oyur choosing. re run the wallet and tell me if you can not connect to others make sure you remove any nodes from config file and remove the old peer.dat file

then leave the same "new " port but reintroduce the addnodes.  

tell me how is it possible you connected to the same people with different port

please go to your client click on Help/Debug Window then click on the console tab..

then type in the getpeerinfo into the command box and hit enter..


now look at all your peers for the field "addr"

I am willing to wager 500,000 karma you will see quite clearly that each node is connected using port 9432

if you can change that port number, connect to peers on the Karma coin network with it and then prove it in a verifiable way how you did it.. then the 500,000 Karma is yours.

port 9432 is the port being used by the client it is the only port that matters when talking to peers...

whatever port settings you may or may not have incorrectly set are irrelevant.

PS you can also set the port number by using the "-port=nnnn" command line argument.

and before you decide to get more cheeky and write another post about how wrong I am.. I'll give you a little hint... look closely at the addnode commands you are entering into your config file.

[learminer]

Could be interesting to watch how SAT fares in their PoS transition. I believe no coin has made that switch yet from a completely PoW to a PoS coin (they're also cutting their coin sully from 15M to 7.7M)? Certainly not a trivial thing to do. Even several PoW/PoS hybrid coins had serious issues in the last weeks and all they had to do was clone BC sourcecode (apparently some didn't and would up making stupid coding errors).

DMD is a PoW/PoS hybrid that got a huge boost out of the recently announced changes to their coin.
SAT profited from the PoS announcements alone (they were at 1-2 sat before first PoS rumors hit, taking them to a high of 15 sat and now hovering at around 5 sat with occasional dips/spikes).
ECC on the other hand didn't profit from the (always planned) switch at all so far, their market situation actually reminds me of the last weeks of the KARM/BTC market on Mintpal. HUGE sell walls that create a downward spiral for ECC value.

I am pretty certain that a move to PoS would move Karma's price up temporarily, maybe another short 3-4x increase followed by a decline back to 1.5x today's level. Long term I believe it will have absolutely zero effect. What kosmost and the team are creating for Karma is 100x more important for the future value of the coin. The major PoS benefit (long-term) might be network protection from incoming Scrypt ASICs. Then again an algo-change would have the same effect. No idea if that'd be any easier to implement though. I kinda understand why the team hesitates to come to a final decision.

[huige007]

KRAM whole network has more than 10G preferably attractive

[cryptowho]

KRAM whole network has more than 10G preferably attractive

haha you keep saying KRAM...

[ShawnLeary]

If we can hold on and prove all of the naysayers wrong and still manage to stay afloat with this many coins and with BitCoin at low low prices, we can do anything!  We have some major initiatives coming over the next few weeks.  Hold on tight!!!

[kosmost]

Could be interesting to watch how SAT fares in their PoS transition. I believe no coin has made that switch yet from a completely PoW to a PoS coin (they're also cutting their coin sully from 15M to 7.7M)? Certainly not a trivial thing to do. Even several PoW/PoS hybrid coins had serious issues in the last weeks and all they had to do was clone BC sourcecode (apparently some didn't and would up making stupid coding errors).

DMD is a PoW/PoS hybrid that got a huge boost out of the recently announced changes to their coin.
SAT profited from the PoS announcements alone (they were at 1-2 sat before first PoS rumors hit, taking them to a high of 15 sat and now hovering at around 5 sat with occasional dips/spikes).
ECC on the other hand didn't profit from the (always planned) switch at all so far, their market situation actually reminds me of the last weeks of the KARM/BTC market on Mintpal. HUGE sell walls that create a downward spiral for ECC value.

I am pretty certain that a move to PoS would move Karma's price up temporarily, maybe another short 3-4x increase followed by a decline back to 1.5x today's level. Long term I believe it will have absolutely zero effect. What kosmost and the team are creating for Karma is 100x more important for the future value of the coin. The major PoS benefit (long-term) might be network protection from incoming Scrypt ASICs. Then again an algo-change would have the same effect. No idea if that'd be any easier to implement though. I kinda understand why the team hesitates to come to a final decision.

In about 47 days or so our rewards will drop to 35,000 per block. In your opinion, do you think it's enough for scrypt ASICs to point to Karma? They do need as much profit as possible to pay for their new rigs, right? What are some other profitable coins they would prefer over Karma, do you think?

[kosmost]

Any news about BTER?

BTER is good to have.. when we have expanded interest. But they're not as big as they used to be. Their largest LTC market saw traded 15 LTC worth of coins in the past 24 hours: https://bter.com/marketlist/LTC

The better idea is probably to make Karma interesting enough to be their biggest BTC market bar far. Currently their largest is Dogecoin at 46 BTC of volume in the past day, which isn't really that much.

Here's one plan:

1) add value to Karma through Karmashares and non-profit projects and peripheral developments

2) maintain per coin value at 200 LTC+ for a few weeks

3) wait for our BTC market to come back on Mintpal, naturally per demand

4) Release Chinese language Karmashares translation (and Karmacoin.me) and have a dedicated person posting to a new Wechat or QQ Karma group

5) push for BTC/KARM on BTER (or wait for them to add it per demand)

6) Even better, CNY/KARM to allay some of the China BTC market fears

I think Chinese altcoin investors are looking for something interesting to invest in. Not just the same boring coins. It used to be Dogecoin, but no longer. It can be Karma, because we offer an interesting value proposition that they can relate to and that they desire in their other kinds of investments.

[kosmost]

KRAM whole network has more than 10G preferably attractive

The more value we add to Karma through Karmashares the more our network hash rate will rise, as coins dry up from the exchanges.

We are unfolding a plan now to make each of our 92 billion coins the most desirable coins to hold. It won't happen overnight, but we're putting the pieces in place now.

Slow and steady is much better than an unpredictable market roller coaster ride like most other coins. Cryptocurrency is a relatively new market so people are less apt to employ logic and be more guided by emotions. Our plans counter some of irrational behaviour of actors in the market.

We are building a composite of various time-tested things (legal entity, logical and fair operating agreement, understandable framework, variety of projects that support and add value to Karma, possibility of buyouts and investment by VC firms and companies like Google, profit-sharing, etc) to make Karma a very reasonable investment for both professionals and non-professionals, and thus a more desirable and popular currency for everyone else.

There's no reason that a partner at Union Square ventures can't consider heading a $5 million round in Karmashares because we're a legal entity that can sign contracts and our search engine is showing some traction and Karmashares is basically a startup incubator that has 100% ownership of projects (likely to be a very appealing concept to them). And how would they invest? By purchasing $5 million worth of Karma, of course. (They'd probably come up with a more structured proposal, or maybe even buying all 8 billion of Karmashares coins for that much, but you get the idea.)

There's no reason that a soccer mom living in Ohio can't "invest" for their kids by buying some Karma, or their kids can't just spend $5 and buy some themselves. (Now multiply this by 50,000 or even 500,000 people around the world.) When we are seen as a relatively safe and reasonable "investment" compared with the ups and downs of the only other coin they know, Bitcoin, and the fact that we're doing lots of wonderful things, you'll see coins dry up as people buy and hold Karma.

And of course we want to have enough coins to keep our economy healthy and coins flowing.

With all of these factors are discovered in the marketplace our network hash will rise up right along with the coin price.  1 GH/s should be a rounding error at that time.

[ShawnLeary]

Could be interesting to watch how SAT fares in their PoS transition. I believe no coin has made that switch yet from a completely PoW to a PoS coin (they're also cutting their coin sully from 15M to 7.7M)? Certainly not a trivial thing to do. Even several PoW/PoS hybrid coins had serious issues in the last weeks and all they had to do was clone BC sourcecode (apparently some didn't and would up making stupid coding errors).

DMD is a PoW/PoS hybrid that got a huge boost out of the recently announced changes to their coin.
SAT profited from the PoS announcements alone (they were at 1-2 sat before first PoS rumors hit, taking them to a high of 15 sat and now hovering at around 5 sat with occasional dips/spikes).
ECC on the other hand didn't profit from the (always planned) switch at all so far, their market situation actually reminds me of the last weeks of the KARM/BTC market on Mintpal. HUGE sell walls that create a downward spiral for ECC value.

I am pretty certain that a move to PoS would move Karma's price up temporarily, maybe another short 3-4x increase followed by a decline back to 1.5x today's level. Long term I believe it will have absolutely zero effect. What kosmost and the team are creating for Karma is 100x more important for the future value of the coin. The major PoS benefit (long-term) might be network protection from incoming Scrypt ASICs. Then again an algo-change would have the same effect. No idea if that'd be any easier to implement though. I kinda understand why the team hesitates to come to a final decision.

In about 47 days or so our rewards will drop to 35,000 per block. In your opinion, do you think it's enough for scrypt ASICs to point to Karma? They do need as much profit as possible to pay for their new rigs, right? What are some other profitable coins they would prefer over Karma, do you think?

As the price and value of Karma rises, so too will the value of even the reduced rewards.  Guess it depends on the type of miners, some need to pay immediate capital and operational expenses, they will mine the pump du jour. Others, that have the same mindset of current BitCoin miners, will see the long term benefit of holding and stashing away their KARMs. 

[cryptowho]

We're introducing new reddit home

http://www.reddit.com/r/karmateam              


Please subscribe. soon enough most of the new updates will go there first!

[kosmost]

We're introducing new reddit home

http://www.reddit.com/r/karmateam              


Please subscribe. soon enough most of the new updates will go there first!

Note that this becomes our official subreddit, to replace r/karmacoin

r/karmashares was our temporary shelter, but of course we will continue posting there. But coin-related stuff will go on /karmateam

[Safty]

I would like to solo-mine Karma. Can anyone help with settings (links or tutorial)? I am using cgminer 3.7.2

[altcoingood]

I would like to solo-mine Karma. Can anyone help with settings (links or tutorial)? I am using cgminer 3.7.2

I know it's not solo-mining but have you considered p2pool?

edit: here's a link for you explaining how to solo-mine using cgminer: http://maunderingcabal.blogspot.com/2013/02/bitcoin-mining-log-9-how-to-solo-mine.html

[altcoingood]

do me a test. remove the current config file and make one with "port=" of oyur choosing. re run the wallet and tell me if you can not connect to others make sure you remove any nodes from config file and remove the old peer.dat file

then leave the same "new " port but reintroduce the addnodes.  

tell me how is it possible you connected to the same people with different port

please go to your client click on Help/Debug Window then click on the console tab..

then type in the getpeerinfo into the command box and hit enter..


now look at all your peers for the field "addr"

I am willing to wager 500,000 karma you will see quite clearly that each node is connected using port 9432

if you can change that port number, connect to peers on the Karma coin network with it and then prove it in a verifiable way how you did it.. then the 500,000 Karma is yours.

port 9432 is the port being used by the client it is the only port that matters when talking to peers...

whatever port settings you may or may not have incorrectly set are irrelevant.

PS you can also set the port number by using the "-port=nnnn" command line argument.

and before you decide to get more cheeky and write another post about how wrong I am.. I'll give you a little hint... look closely at the addnode commands you are entering into your config file.

i am not sure what you are trying to say but i just want to underline that...

you can change the port setting and still be able to connect to other peers, that way you can run multiple karmacoin wallets on the same ip address (you also need to change rpcport)

you can send the 500k to KKEH3Ga4ntBedUsxS6cqoBEhbL8ZXC3Sgt

[tomoto]

I can understand that pos need reflexion.
Or i can understand to stay away from pos.

But if you do it, please limit the max number of the coin, 92 B is really to much.

Somme maths:

Price per coin :

1$  =  total market cap 92 000 000 000 $ impossible the bitcoin actually have 5 000 000 000$ in 6 years or so.   0.0031 btc per coin

0.10$ = total market cap 9 200 000 000$ it still enormous i think and not possible.  0.00031 btc per coin

0.01$ = total market cap 900 000 000 $ here its really hard but possible still really hard its 3 times the market of litecoin. 0.000031 btc per coin

0.001 = total market cap 90 000 000$ i will be really happy if we go here its nice and i think it can be done. 0.0000031 btc per coin

0.0001 = total market cap 9 000 000$ i hope we will go here in few weeks months 0.00000031 btc per coin

0.00001 = total market cap 900 000$ next move we will be here in really few time 0.000000031 btc per coin.


As you see 1 $ it impossible , 0.10$ is nearly impossible , 0.01 is possible but hard.


92 B of coins is to much, this one of the major reason the price of doge doesnt move any more and is falling a little by little each day.


60B to 65B can be nice but more is to much.


Its only my opinion.

What do everybody think about it ?

[Delaforetnoire]

I can understand that pos need reflexion.
Or i can understand to stay away from pos.

But if you do it, please limit the max number of the coin, 92 B is really to much.

Somme maths:

Price per coin :

1$  =  total market cap 92 000 000 000 $ impossible the bitcoin actually have 5 000 000 000$ in 6 years or so.   0.0031 btc per coin

0.10$ = total market cap 9 200 000 000$ it still enormous i think and not possible.  0.00031 btc per coin

0.01$ = total market cap 900 000 000 $ here its really hard but possible still really hard its 3 times the market of litecoin. 0.000031 btc per coin

0.001 = total market cap 90 000 000$ i will be really happy if we go here its nice and i think it can be done. 0.0000031 btc per coin

0.0001 = total market cap 9 000 000$ i hope we will go here in few weeks months 0.00000031 btc per coin

0.00001 = total market cap 900 000$ next move we will be here in really few time 0.000000031 btc per coin.


As you see 1 $ it impossible , 0.10$ is nearly impossible , 0.01 is possible but hard.


92 B of coins is to much, this one of the major reason the price of doge doesnt move any more and is falling a little by little each day.


60B to 65B can be nice but more is to much.


Its only my opinion.

What do everybody think about it ?

You see Karma like another coin. It will be way more than that : the first massive adopted coin/concept for every day people, your friends, my family.
Actually, we plain to be more adopted than Bitcoin. 
(the bitcoin actually has 5 000 000 000$ in 6 years or so) : Karma with our LLC and nexte future big investors will ''easy'' be bigger than Bitcoin in my opinion.
Just look at the marketcap of an average good web startup   

More details of our plan about Pos/92B coins here :
http://www.reddit.com/r/Karmashares/comments/24r22p/question_whats_going_on_with_pos/

[learminer]

Could be interesting to watch how SAT fares in their PoS transition. I believe no coin has made that switch yet from a completely PoW to a PoS coin (they're also cutting their coin sully from 15M to 7.7M)? Certainly not a trivial thing to do. Even several PoW/PoS hybrid coins had serious issues in the last weeks and all they had to do was clone BC sourcecode (apparently some didn't and would up making stupid coding errors).

DMD is a PoW/PoS hybrid that got a huge boost out of the recently announced changes to their coin.
SAT profited from the PoS announcements alone (they were at 1-2 sat before first PoS rumors hit, taking them to a high of 15 sat and now hovering at around 5 sat with occasional dips/spikes).
ECC on the other hand didn't profit from the (always planned) switch at all so far, their market situation actually reminds me of the last weeks of the KARM/BTC market on Mintpal. HUGE sell walls that create a downward spiral for ECC value.

I am pretty certain that a move to PoS would move Karma's price up temporarily, maybe another short 3-4x increase followed by a decline back to 1.5x today's level. Long term I believe it will have absolutely zero effect. What kosmost and the team are creating for Karma is 100x more important for the future value of the coin. The major PoS benefit (long-term) might be network protection from incoming Scrypt ASICs. Then again an algo-change would have the same effect. No idea if that'd be any easier to implement though. I kinda understand why the team hesitates to come to a final decision.

In about 47 days or so our rewards will drop to 35,000 per block. In your opinion, do you think it's enough for scrypt ASICs to point to Karma? They do need as much profit as possible to pay for their new rigs, right? What are some other profitable coins they would prefer over Karma, do you think?

Hard to predict, it depends on so many factors. What will Karma's value be in a month, what will difficulty and net hashrate be? If things stay about the same as they are today, then Karma is IMO in real danger from ASICs. As many smaller scrypt coins will be.

I warned about this before, one or two of these 2nd gen ASICs will be enough to take control over any smaller coin network. There will be a period where a few early adopters, who spent lots of money on these rigs, will weild an enormous amount of power. We will see 51% attacks, we will see double spending attacks, we will see all kinds of stuff. Karma might get lucky and go through this transition untouched. But I do not like depending on luck. Do you?

[easteagle13]

If we can hold on and prove all of the naysayers wrong and still manage to stay afloat with this many coins and with BitCoin at low low prices, we can do anything!  We have some major initiatives coming over the next few weeks.  Hold on tight!!!

**grabs shawnleary's arm.