[ANN][KARM] Karma / ₭ / X11

[karmala]

volume is increasing. Last chance to get cheap coins...

[1714827992]

1714827992

[1714827992]

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[1714827992]

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[1714827992]

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[ShawnLeary]

volume is increasing. Last chance to get cheap coins...

Someone keeps driving up the price! Please dump and fill my orders at 38 and 37!!

[pac]

Someone keeps driving up the price! Please dump and fill my orders at 38 and 37!!

The worldcup page seems to be down for some time and you can put those orders in on cryptsy, they are still selling at 37 and 38

[kahir]

ShawnLeary please don't make POS .... don't fuck up karma

[karmala]

volume is increasing. Last chance to get cheap coins...

Someone keeps driving up the price! Please dump and fill my orders at 38 and 37!!

you are the sucker at 38 I am at 37... guess my order will not be filled...  should I move to 39?

[ShawnLeary]

Someone keeps driving up the price! Please dump and fill my orders at 38 and 37!!

The worldcup page seems to be down for some time and you can put those orders in on cryptsy, they are still selling at 37 and 38

Thanks, we are working on it right now.   trying to make it load faster by removing the blockchain info for each country and only keeping the total prize pool. 

[ShawnLeary]

volume is increasing. Last chance to get cheap coins...

Someone keeps driving up the price! Please dump and fill my orders at 38 and 37!!

you are the sucker at 38 I am at 37... guess my order will not be filled...  should I move to 39?

I took mine off and moved it down a few Lits <fingers crossed>

[bcd]

Day by day Karma community is growing and getting stronger. I am holding and continue mining Karma. I expect Karma to rise atleast 50 satoshi in few weeks. Investment I can always trust.

[learminer]

volume is increasing. Last chance to get cheap coins...

Someone keeps driving up the price! Please dump and fill my orders at 38 and 37!!

you are the sucker at 38 I am at 37... guess my order will not be filled...  should I move to 39?

Don't worry, the dumpers have not failed me once in the past week or two. Just place your order 2-4 lit below current price and you WILL get dumped on in a couple of hours. Just be patient. No need to hurry, unless you know something I don't and expect price is about to shoot up unexpectedly.

[karmala]

volume is increasing. Last chance to get cheap coins...

Someone keeps driving up the price! Please dump and fill my orders at 38 and 37!!

you are the sucker at 38 I am at 37... guess my order will not be filled...  should I move to 39?

Don't worry, the dumpers have not failed me once in the past week or two. Just place your order 2-4 lit below current price and you WILL get dumped on in a couple of hours. Just be patient. No need to hurry, unless you know something I don't and expect price is about to shoot up unexpectedly.

really strange... what are they doing. Are they miners needing to pay electicity? At least they are not following Karma developments....

[ranlo]

volume is increasing. Last chance to get cheap coins...

Someone keeps driving up the price! Please dump and fill my orders at 38 and 37!!

you are the sucker at 38 I am at 37... guess my order will not be filled...  should I move to 39?

Don't worry, the dumpers have not failed me once in the past week or two. Just place your order 2-4 lit below current price and you WILL get dumped on in a couple of hours. Just be patient. No need to hurry, unless you know something I don't and expect price is about to shoot up unexpectedly.

really strange... what are they doing. Are they miners needing to pay electicity? At least they are not following Karma developments....

A lot of people mine and dump asap so they are less at risk in case a coin fails. They figure a little profit now is better than the possibility of zero profit (and losses instead) in the future.

[rbauer85]

volume is increasing. Last chance to get cheap coins...

Someone keeps driving up the price! Please dump and fill my orders at 38 and 37!!

you are the sucker at 38 I am at 37... guess my order will not be filled...  should I move to 39?

Don't worry, the dumpers have not failed me once in the past week or two. Just place your order 2-4 lit below current price and you WILL get dumped on in a couple of hours. Just be patient. No need to hurry, unless you know something I don't and expect price is about to shoot up unexpectedly.

really strange... what are they doing. Are they miners needing to pay electicity? At least they are not following Karma developments....

I honestly can not figure out why people are dumping this coin... there are so many shitcoins out there with absolutely nothing but hot air in the pipeline, with a ton of coins and high prices. And here karma sits, below 1 satoshi, with a ton of great projects in the works, and people dumping it like crazy. Just does not compute!!!

[learminer]

really strange... what are they doing. Are they miners needing to pay electicity? At least they are not following Karma developments....

I honestly can not figure out why people are dumping this coin... there are so many shitcoins out there with absolutely nothing but hot air in the pipeline, with a ton of coins and high prices. And here karma sits, below 1 satoshi, with a ton of great projects in the works, and people dumping it like crazy. Just does not compute!!!

Yeah it is strange. I think any individual miners mining Karma at this point pretty much know what they are mining and intend to keep at least most of their rewards. Those are so small anyway that the big dumps can't come from them, they have too much volume.

I have two theories, both might be wrong.
1. They are multipools dumping to convert to BTC. Karma is currently among the most profitable scrypt coins after all. Has anybody watched the net hashrate closely to see if there's a lot of fluctuations (pools hopping on and off)?
2. It is a whale that is not satisfied yet. Maybe he/they have "only" 2-3 billion coins, but want 5-10. They use their stash to drive/keep price down and accumulate more Karma.

There's also the possibility that a whale wants to exit his position, but usually such a move is preceded by a small pump and/or fake buywalls. I don't see either.

One thing I did notice on Mintpal is that sometimes these dumps seem to happen almost in "retaliation" for people driving price up. Every couple of days someone would start buying up Karm and raise price by a few lit. Shortly after that there was always a pretty big dump that pretty much tore through any walls put up. If nobody buys for a while the dumps are smaller and less frequent. One thing is for sure. Whoever keeps dumping their coins is watching the markets closely...

[cryptowho]

guy you have to be patient. we can not help the dumping from stoping. if every person in the crypto world knew about the coin and believed in it we would not have sell order. we can not help that. we can only reach so much people and educate them. the rest only believe in other coin. there is also a lot of POS coins that mine us to sell to buy their coins. we are one of the few Scrypt algo coins to stay active.

why do i mention this? because out of most scrypt coin we reach the top coins to mine everytime we rise to 39-42 litoshish. seriously. we are number one target for mining most of the times. This bring all the miner as mention above on board. and also the multipool of other coins.

in one more month we will drop our block rewards drastically. We started with almost 1.5 mill coin a block. In one moth we will be at 35,000 coins for block reward.

i personally am proud we have been moving along so smoothly. Soon it will be non profitable to mine our coin. this will result in people having to buy the coin if the want to own a slice or our pie. this will rise our buy prices up until 30 000 boin reward become profitable to mine once more.

simple math. coin reward will drop %75 percent. to be profitable to mine it will need to raise %750 more in price. this will bring back miners who will sell and keep the price stable from rising some more.


and this is only if our team does nothing else to create additional values. you know a lot of our members are building so many other services that will create revenue to build buy orders.

at the same time , hopefully by july we have all come in agreement in POS implementation and this will create much more buy interest.

i am not worried. this coin is too good to die. maybe prices will dip down to few litoshish until then. but rest assure we will not stop building a stronger Part D


with this being said. please join our team if you have skills that can help us improve. whether you are a dev, ghrafic designer, web designer, market and PR or simple have free time to dedicate to helping promote the goals of our coin. join the team. be in the known : )

it goes without saying we are looking for people who want to help the coin grow organically and progressively. we are not looking to create fake hypes

[cryptowho]

[snip]
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.

Sorry, I don't understand. Would you care to explain?

The way Karma price could be pegged against the Karmashares LLC price is you are making a direct way to value something (Karma) which otherwise has no value. Obviously this doesn't matter too much anyways if you always allow people to continue to invest in Karmashares LLC with Karma. I'm sure you know my position on Karmashares LLC vs Karma.

Also, I think we should take this transition opportunity to review everything about the coin, including but not limited to transaction fees, block times and everything that can be changed about a coin. Obviously massive changes like this should only ever be done once, so everything should be reviewed now.

Because I made so many points in my original post, I'll expand on the most important three:
Interest being too high.
We have to remember that Karma is primarily a currency.
1. 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 if the inflation rate is over 6%. The inflation rate should be more in line with developed economies currencies at around 1.5-2.5% per annum. People perceive a currency with a high level of inflation as not stable because it doesn't hold value.

Of course I'm taking an extremely long term view here (decades) because the main price driver in all crytocuncies for at least the next ten years will be speculation because Karma has no value unless people give it one, which is also true about fiat currencies. $100 isn't worth anything unless I can swap it with somebody for something. It will always be this way for crpytocurrencies because there is no centralised government increasing and decreasing the flow of the currency to keep it stable. However over time as more people assign a value to cryptocurrencies the more stable they will become against fiat currencies, good and services. At this time speculation will decrease because other investments will have higher possible returns, speculators will over time sell out to people who are using the coin as a currency.

2. If the interest rate is too high not enough Karma will be kept on exchanges. This may not sound like an issue for speculators because it means it is far more likely the currency will increase in value (less to buy on the sell side to push up the price) however it will also make the currency less stable...less like a currency.

3. If the interest rate is too high it may encourage bad practices by exchanges. Exchanges might keep funds in less secure wallets to try to take advantage of the interest.

The decision shouldn't be based on price.
It just doesn't look good if the decision is being made on price. The decision should be made based on what will be the best for Karma in decades to come. Ok, I just wanted to say this again not explain it.

There should be no coin 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 because it is more realistic compared to fiat currencies. However this point only applies if the interest is below 3%. Also if the inflation is removed the network may lose some of its security (depending on how exactly the PoS works).

The main advantages of PoS are:
1. The network is more secure;
2. The network costs far less to run (I'd call "saving the planet" good karma); and
3. It encourages people to take their Karma off exchanges unless they plan on selling it in the near future. There is over 2 billion Karma on the market of a single exchange at the moment, probably billions more not on the market just sitting in the exchanges accounts. I don't like concentrations of Karma because it won't take much in the wrong hands to crash its price.

The disadvantages of going to PoS are:
1. It could be completely screwed up, as per my limited understanding of the transition process, moving to PoS would be almost like 51% attacking Karma ourselves. We are doubling the amount of Karma and saying half of it is worthless now because these guys say so.
2. People with mining rigs that don't want to buy coins can no longer mine for them. People can mine other coins and then purchase Karma however some people will be unwilling to take this extra step. Mining is becoming harder and harder for individuals so I think this point will become less valid over time.

I think the advantages are greater than the disadvantages. I'm willing to risk losing the value of a few Karma now if things go wrong to see Karma survive long into the future.

Chargin.

i like the way you think. i do not agree with everything but you make some good points. most importantly you challenge us. You should be more involved and make sure you use your well thought opinions and experience to either contradict or defend some of our goals. The more people like you get involved the more information we have to use choose practical solutions as they emerge.

To everyone reading this: this is your coin as much as ours. never forget that. we are trying hard to create a voting system where everyone has a say and votes in their opinion. help us make better decisions by speaking out.

[karmala]

I am also more pro-pos but I think chargin got a point with the interests...

[BitTanker]

Please retweet

https://twitter.com/BitTanker/status/466344444514824192
https://twitter.com/BitTanker/status/466325784500928512
https://twitter.com/BitTanker/status/466004884463304704
https://twitter.com/BitTanker/status/466304569430269952

 

[yurimir]

Please retweet

https://twitter.com/BitTanker/status/466344444514824192
https://twitter.com/BitTanker/status/466325784500928512
https://twitter.com/BitTanker/status/466004884463304704
https://twitter.com/BitTanker/status/466304569430269952

 

OK, done

[learminer]

guy you have to be patient. we can not help the dumping from stoping. if every person in the crypto world knew about the coin and believed in it we would not have sell order. we can not help that. we can only reach so much people and educate them. the rest only believe in other coin. there is also a lot of POS coins that mine us to sell to buy their coins. we are one of the few Scrypt algo coins to stay active.

why do i mention this? because out of most scrypt coin we reach the top coins to mine everytime we rise to 39-42 litoshish. seriously. we are number one target for mining most of the times. This bring all the miner as mention above on board. and also the multipool of other coins.

in one more month we will drop our block rewards drastically. We started with almost 1.5 mill coin a block. In one moth we will be at 35,000 coins for block reward.

i personally am proud we have been moving along so smoothly. Soon it will be non profitable to mine our coin. this will result in people having to buy the coin if the want to own a slice or our pie. this will rise our buy prices up until 30 000 boin reward become profitable to mine once more.

simple math. coin reward will drop %75 percent. to be profitable to mine it will need to raise %750 more in price. this will bring back miners who will sell and keep the price stable from rising some more.


and this is only if our team does nothing else to create additional values. you know a lot of our members are building so many other services that will create revenue to build buy orders.

at the same time , hopefully by july we have all come in agreement in POS implementation and this will create much more buy interest.

i am not worried. this coin is too good to die. maybe prices will dip down to few litoshish until then. but rest assure we will not stop building a stronger Part D


with this being said. please join our team if you have skills that can help us improve. whether you are a dev, ghrafic designer, web designer, market and PR or simple have free time to dedicate to helping promote the goals of our coin. join the team. be in the known : )

it goes without saying we are looking for people who want to help the coin grow organically and progressively. we are not looking to create fake hypes

Just because we're talking about the market doesn't mean we're worried. At least I am not. I just checked, my 1st Karma purchase was at 7 satoshi and I have bought all the way down to 10 litoshi. And back up all the way to 70 litoshi, and all the way back down to 37 litoshi. Only ever sold small amounts.

Sure, I'd rather see Karma traded at 70 or 120 or 250 litoshi. But since I have no intention to sell anyway, its just a technicality. In the long run it won't matter. It will all seem cheap a year from now...

[ptman]

Common guys.

Point more hashing power to Karma.

You can try my pool if you want.
pool.terahashers.com

It has variable difficulty to better use the mining equipment and internet connection, and you do not even need to register (wallet address as username on 'minerd' or 'cgminer', with any password).