[ANN][KARM] Karma / ₭ / X11

[kosmost]

how about you say if coins are mined on pool X then they don't have to wait 30 days for their karmashares or some sort of bonus scheme like that...
the pool has to be P2Pool though or it wont work because then you would just end up centralizing the mining power even further.

unfair to people who don't mine, I think

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[Alphi]

how about you say if coins are mined on pool X then they don't have to wait 30 days for their karmashares or some sort of bonus scheme like that...
the pool has to be P2Pool though or it wont work because then you would just end up centralizing the mining power even further.

unfair to people who don't mine, I think

92% hash rate on one pool is far more than unfair to people who don't mine...
lets say the network gets 51% attacked.. what do you think that is going to do to the coins being held by people who don't mine?
A 51%+ attack wont be able to steal those coins so the coins themselves are safe.. but it will cause panic selling.

you just need to get more than half the people off MPOS pools (and onto P2Pool pools) and the problem of one pool being used to attack the network goes away.

[kahir]

okay im gonna start talking about this even im not sure its the right thing



can we change karma algorithm ?

since asics are getting shipped already ... few people gonna have the higher hand of the incoming karma supply .. and slowly people with gpus will stop mining scrypt based coins

i hate the idea of cutting coin supply / halving / reduce block reward / changing algo

caz all that hurt coin


but what im talking about here could it be more useful than hurting ..

[altcoingood]

how about you say if coins are mined on pool X then they don't have to wait 30 days for their karmashares or some sort of bonus scheme like that...
the pool has to be P2Pool though or it wont work because then you would just end up centralizing the mining power even further.

unfair to people who don't mine, I think

agreed, the mining-problem is not the non-miners problem.

there is only one thing to say: people who consciously mine at the 92% pool are either people who are not interested in this coin besides personal profit or people who have zero knowledge of the technical aspects of cryptocurrencies and the fact they are destroying the karma ecosystem.

[kosmost]

how about you say if coins are mined on pool X then they don't have to wait 30 days for their karmashares or some sort of bonus scheme like that...
the pool has to be P2Pool though or it wont work because then you would just end up centralizing the mining power even further.

unfair to people who don't mine, I think

92% hash rate on one pool is far more than unfair to people who don't mine...
lets say the network gets 51% attacked.. what do you think that is going to do to the coins being held by people who don't mine?
A 51%+ attack wont be able to steal those coins so the coins themselves are safe.. but it will cause panic selling.

"some sort of bonus scheme", as you mentioned, could also be attractive.

[Alphi]

agreed, the mining-problem is not the non-miners problem.

it might be seen as unfair by some but whether they like it or not, network security is a problem for anyone who owns the coins regardless of if they mine or not.

there is only one thing to say: people who consciously mine at the 92% pool are either people who are not interested in this coin besides personal profit or people who have zero knowledge of the technical aspects of cryptocurrencies and the fact they are destroying the karma ecosystem.

in think by and large most miners don't have any incentive to care.. especially if they don't plan on holding coins for the long term. The only people who suffer when an attack occurs are those people left holding the bag and even then the suffering is only temporary if the dev team is strong enough to fix things.

education is the key. And failing that then financial persuasion.


one other thing that can be done to promote the use of P2Pools is.. if a Pool is not using P2Pool and they have more than 50% of the hash, then they get delisted from all pool lists on official websites pages, threads etc..

[altcoingood]

agreed, the mining-problem is not the non-miners problem.

it might be seen as unfair by some but whether they like it or not, network security is a problem for anyone who owns the coins regardless of if they mine or not.

there is only one thing to say: people who consciously mine at the 92% pool are either people who are not interested in this coin besides personal profit or people who have zero knowledge of the technical aspects of cryptocurrencies and the fact they are destroying the karma ecosystem.

in think by and large most miners don't have any incentive to care.. especially if they don't plan on holding coins for the long term. The only people who suffer when an attack occurs are those people left holding the bag and even then the suffering is only temporary if the dev team is strong enough to fix things.

education is the key. And failing that then financial persuasion.


one other thing that can be done to promote the use of P2Pools is.. if a Pool is not using P2Pool and they have more than 50% of the hash, then they get delisted from all pool lists on official websites pages, threads etc..

for the sake of education (and fairness) i'd rather we keep all pools on lists but provide number of miners and hash power of each one. i can whip up some api-calls to them and dump a list with the hashpower once a day or something and ask people politely to pick another pool than the 92% one.

like you said, education.

[Alphi]

for the sake of education (and fairness) i'd rather we keep all pools on lists but provide number of miners and hash power of each one. i can whip up some api-calls to them and dump a list with the hashpower once a day or something and ask people politely to pick another pool than the 92% one.

like you said, education.

+1

[altcoingood]

So, there is 1mh/s extra hashing at p2pool.karma.altcoin.dk and i am moving my 1mh/s to http://pool.terahashers.com/ for the next 7 days atleast.

(edit not terahashers, it seems down (wasn't down when i checked it one hour ago)....

edit edit edit: ok so i am picking... hasher.ca (which is pretty wild for me if you read backlog).

[bitwho]

if we want to avoid %51 we should use the pools lunched by our members here.

Could we have a list of them once more ? 

i know altcoingood p2p pool . which ones are the others?

[ranlo]

okay im gonna start talking about this even im not sure its the right thing



can we change karma algorithm ?

since asics are getting shipped already ... few people gonna have the higher hand of the incoming karma supply .. and slowly people with gpus will stop mining scrypt based coins

i hate the idea of cutting coin supply / halving / reduce block reward / changing algo

caz all that hurt coin


but what im talking about here could it be more useful than hurting ..

This has been brought up multiple times and the general consensus is that it's not going to happen; "embrace the ASICs." It may be worth setting up a multipool that pays out in Karma soon (while this was also shot down by a lot of the community, it would help those who can't otherwise mine Karma).

[kosmost]

POLL: Should we accept BTC for Karmashares (at same 1.75x rate) to raise funds?

http://karmashares.com/forums/index.php/topic,94.0.html

[ranlo]

POLL: Should we accept BTC for Karmashares (at same 1.75x rate) to raise funds?

http://karmashares.com/forums/index.php/topic,94.0.html

Is there any information on what funds are being spent on yet? I haven't seen any public documents that help decipher what is needed (how much) and a timeframe or anything.

[Alphi]

holey moley Karma just exploded 74 litoshi! on mintpal... we might even make the top 50 altcoins list tonight.

[kosmost]

POLL: Should we accept BTC for Karmashares (at same 1.75x rate) to raise funds?

http://karmashares.com/forums/index.php/topic,94.0.html

Is there any information on what funds are being spent on yet? I haven't seen any public documents that help decipher what is needed (how much) and a timeframe or anything.

We have not yet spent any Karmashare funds.

But for near-term expenses, we are putting together a list now at http://karmashares.com/forums/index.php/board,17.0.html

This is of course a now incomplete list that we will flesh out in the next few days.

The first order of business when new workgroup leaders are elected next week is to submit their budgets and consider expenses.

(Coins exchanged in first round should not exceed more than 10-25 LTC worth of coins per day, if measured at current rates, only if the market can amply support it. Of course, no dumping of any kind would occur. We would likely use BTC before any of the coins. More info to come)

[bitwho]

everyone msg https://twitter.com/CoinWarz to add karma back : )

[p4r4m0un7]

holey moley Karma just exploded 74 litoshi! on mintpal... we might even make the top 50 altcoins list tonight.

Don't you worrie about the price. It is underestimated by hundreds of times. Volume is what we need. And the volume should be at least 3x today's at this price. Slow and steady.

[kosmost]

Karma & Karmashaes on Coinjoint

http://coinjoint.info/karma-crypto-community-rises-meet-new-challenges/

Go Karma!

[altcoingood]

hashrate also exploded, it's at 1GH/s now... 200% from a few hours ago.

[Alphi]

holey moley Karma just exploded 74 litoshi! on mintpal... we might even make the top 50 altcoins list tonight.

Don't you worrie about the price. It is underestimated by hundreds of times. Volume is what we need. And the volume should be at least 3x today's at this price. Slow and steady.

why shouldnt I worry about the price? after all thats how I get paid.. chaching

anyways I suspect our dumpy friend might be back again tonight... so I should be able to buy back some more karma then...

we are now 41st place on the ladder of Cryptocoins  $466,000 market cap.
next target top 20..