[ANN][KARM] Karma / ₭ / X11

[Chargin]

Hi! We are the Hitbtc team. Hitbtc is the most advanced exchange. Now everyone can vote for their favorite currency to be added to Hitbtc. You can start voting here: https://hitbtc.com/vote

Among the latest currencies taking part in our vote is Karmacoin. So we invite all of you to take part in voting to add KARM to Hitbtc.
Votes from registered users will be multiplied x10!

If this isn't an invitation I don't know what is. This hasn't only been posted here so lets get cracking.

I encourage everyone to sign up to the site, vote and then vote every day. Approximately every 24 hours I'll post an update here on our progress and remind people to vote.

We don't need the most votes, we just need to show our potential. It is possible with two market makers (https://hitbtc.com/mm), perhaps coupled with a decent number of votes, Karma will be listed on hitbtc. Even if we aren't listed in the next 3 months, your votes over the next 3 months will help us get there in 3 months instead of 4, 5 or 6 months.

Day 7:
Rank 1: NFD Coin 14037 (24 hr gain +45) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 2: GlobalBoost 13005 (24 hr gain +3) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 3: BlackCoin 10590 (24 hr gain +25) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 4: Latium 7946 (24 hr gain +450) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 5: Isracoin 6872 (24 hr gain +838) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 6: Mintcoin 3510 (24 hr gain +44) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 7: VirtaCoin 2443 (24 hr gain +293) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 8: Bytecoin 1589 (24 hr gain +14) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 9: Vertcoin 1368 (24 hr gain +2) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 10: SiameseCoin 1227 (24 hr gain +328) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 11: NEMcoin 1017 (24 hr gain +4) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 12: duckNote 874 (24 hr gain +1) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 13: Darkcoin 849 (24 hr gain +2) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 14: Fantomcoin 553 (24 hr gain +0) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 15: biebercoin 524 (24 hr gain +2) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 16: Nascoin 518 (24 hr gain +0) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 17: KarmaCoin 495 (24 hr gain +19) (last 7 days gain +333) (gain since day 0 +333))
Rank 18: Primecoin 477 (24 hr gain +0) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 19: Web 2.0 Coin 414 (24 hr gain +4) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 20: 365Coin 383 (24 hr gain +4) (last 7 days gain +TBA) (gain since day 0 +TBA))


Sign up to (https://hitbtc.com/vote) then vote. It just just an email address, password and confirmation link in your email. Make sure you sign in so your vote is worth 10 times as much.

To get 1000 points it only takes 100 people voting for 10 points. To get 2000 points it only takes those same 100 people voting an additional 10 times while signed out. Lets get started.

TBA means to be advised, I'll introduce this when I have time to set up a system to automate it.
1 day is not 24 hours, it is 1 posting, I'm aiming to post once every 24 hours but sometimes I miss it due to other commitments.

Week 1 results summary:
Karma moved from rank 26 to 17, moving up a total of 9 places.
Karma increased its votes from just 162 to 495, an increase of 333, or we now have 305% of the votes we started with. For future reference, this was all while Karma prices were declining by at least half their value at the start of the weak.

Day 5 results summary:
Karma has moved up 2 places again today to rank 17.
Monero is now available on bitbtc with just 1135 votes. This has to be a market maker addition. I strongly encourage active traders to review this https://hitbtc.com/mm and contact the hitbtc team. Obviously it would be impossible to keep Karma within such a tight range, however larger spreads may be negotiable.

Day 6 results summary:
Karma dropped 1 place today to rank 18 due to the introduction of a new contender.
We are catching up to a lot of cryptocurrencies, if we get a good voter turnout for day 7 we might be able to move up 3 or even 4 places in 1 day.

Day 7 results summary:
Karma moved up 1 place today to rank 17, which is good, however voting turnout was less than usual for Karma.
If we get some good votes tomorrow I wouldn't be surprised if we move up 2 places.

It would appear as if you can only vote once while logged in. You can vote as a guest as many times as you want every 24 hours.

Please keep it up, vote again as a new user or a guest today.

Chargin.

[1714153049]

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[1714153049]

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[1714153049]

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[1714153049]

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[1714153049]

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[AGcrypto]

Hi! We are the Hitbtc team. Hitbtc is the most advanced exchange. Now everyone can vote for their favorite currency to be added to Hitbtc. You can start voting here: https://hitbtc.com/vote

Among the latest currencies taking part in our vote is Karmacoin. So we invite all of you to take part in voting to add KARM to Hitbtc.
Votes from registered users will be multiplied x10!

If this isn't an invitation I don't know what is. This hasn't only been posted here so lets get cracking.

I encourage everyone to sign up to the site, vote and then vote every day. Approximately every 24 hours I'll post an update here on our progress and remind people to vote.

We don't need the most votes, we just need to show our potential. It is possible with two market makers (https://hitbtc.com/mm), perhaps coupled with a decent number of votes, Karma will be listed on hitbtc. Even if we aren't listed in the next 3 months, your votes over the next 3 months will help us get there in 3 months instead of 4, 5 or 6 months.

Day 7:
Rank 1: NFD Coin 14037 (24 hr gain +45) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 2: GlobalBoost 13005 (24 hr gain +3) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 3: BlackCoin 10590 (24 hr gain +25) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 4: Latium 7946 (24 hr gain +450) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 5: Isracoin 6872 (24 hr gain +838) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 6: Mintcoin 3510 (24 hr gain +44) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 7: VirtaCoin 2443 (24 hr gain +293) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 8: Bytecoin 1589 (24 hr gain +14) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 9: Vertcoin 1368 (24 hr gain +2) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 10: SiameseCoin 1227 (24 hr gain +328) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 11: NEMcoin 1017 (24 hr gain +4) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 12: duckNote 874 (24 hr gain +1) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 13: Darkcoin 849 (24 hr gain +2) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 14: Fantomcoin 553 (24 hr gain +0) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 15: biebercoin 524 (24 hr gain +2) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 16: Nascoin 518 (24 hr gain +0) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 17: KarmaCoin 495 (24 hr gain +19) (last 7 days gain +333) (gain since day 0 +333))
Rank 18: Primecoin 477 (24 hr gain +0) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 19: Web 2.0 Coin 414 (24 hr gain +4) (last 7 days gain +TBA) (gain since day 0 +TBA))
Rank 20: 365Coin 383 (24 hr gain +4) (last 7 days gain +TBA) (gain since day 0 +TBA))


Sign up to (https://hitbtc.com/vote) then vote. It just just an email address, password and confirmation link in your email. Make sure you sign in so your vote is worth 10 times as much.

To get 1000 points it only takes 100 people voting for 10 points. To get 2000 points it only takes those same 100 people voting an additional 10 times while signed out. Lets get started.

TBA means to be advised, I'll introduce this when I have time to set up a system to automate it.
1 day is not 24 hours, it is 1 posting, I'm aiming to post once every 24 hours but sometimes I miss it due to other commitments.

Week 1 results summary:
Karma moved from rank 26 to 17, moving up a total of 9 places.
Karma increased its votes from just 162 to 495, an increase of 333, or we now have 305% of the votes we started with. For future reference, this was all while Karma prices were declining by at least half their value at the start of the weak.

Day 5 results summary:
Karma has moved up 2 places again today to rank 17.
Monero is now available on bitbtc with just 1135 votes. This has to be a market maker addition. I strongly encourage active traders to review this https://hitbtc.com/mm and contact the hitbtc team. Obviously it would be impossible to keep Karma within such a tight range, however larger spreads may be negotiable.

Day 6 results summary:
Karma dropped 1 place today to rank 18 due to the introduction of a new contender.
We are catching up to a lot of cryptocurrencies, if we get a good voter turnout for day 7 we might be able to move up 3 or even 4 places in 1 day.

Day 7 results summary:
Karma moved up 1 place today to rank 17, which is good, however voting turnout was less than usual for Karma.
If we get some good votes tomorrow I wouldn't be surprised if we move up 2 places.

It would appear as if you can only vote once while logged in. You can vote as a guest as many times as you want every 24 hours.

Please keep it up, vote again as a new user or a guest today.

Chargin.

I just voted, we are at 507 now.

[bitwho]

https://bter.com/voting#KARM

also try to vote there 

[kosmost]

Securing Karma's BTC market with a reverse split

Please let us know your opinion at http://karmashares.com/forums/index.php?topic=463.0

[Maurizio]

Mintpal is not serious, go and see the boots, sells and buys from 50-90Karm in massiv numbers.

[bitwho]

Securing Karma's BTC market with a reverse split

Please let us know your opinion at http://karmashares.com/forums/index.php?topic=463.0

+100000

[Chargin]

1:100. You always need to be able to send Karma as a tip. You can't tip fractions of things, it just doesn't have the same appeal. My suggestion at 1,000  was was only for listings on exchanges, not a hard fork in the number of coins.

Make sure you are 100% confident when changing people's balances, I think you should give plenty of notice when doing it.

This is about more than who is willing to sell at what price. Look at the order depth graph on Mintpal. It has looked like since the BTC market launched and will look like that until a huge BTC order is placed and we are at around 20+ Satoshi because there aren't enough points to plot interest. Really the graph should be zoomed in to the 0 to 8 region, ignoring the rest. All of a sudden it looks so much better. If there were more price points the graph would do this. This alone impacts market sentiment.

People are placing their sell orders on the market now because the market could reach their order, but it could take days or weeks to process behind somebody willing to sell at exactly the same price as them.

I'm sure people must be speculating that they'll place their sell order then be able to rebuy at a slightly lower price due to other people backing up their order.

Market sentiment is important and the granularity issue shouldn't be mistaken for a price issue, it is no less of a technical issue with Karma than which hashing algorithm is used.

I voted for 100 but you forgot to add the no option to your poll.

[bitwho]

we have consulted with some great devs in the cryptoworld and they all agree Billion coins are not worth for investors.


Also the number one factor that we all miss to see is that karma should not be treated as a penny. because unlike the penny. Karma can be split in satoshis.

1 karma = 1.00000000 Karma


An other point is that . if some one has 100million coins and they decided to sell 20mills for profit they will crush the coin down.Possible down to 1 satoshi but at 100,000 coins when they sell 20,000 coins for profit that will not be a huge dent. they will get their profit and the price will fall a bit but not enough to risk us the BTC/Market.

we need the BTC market as we will constantly pushing and trying to make the progress and people will be free to trade in bitcoins. a lot of investors did not bother with us because of voility of LTC/BTC market. they would loose to much.

An other thing is the proffit spread.

As this moment you can buy 1 btc worth of karma at 2 satoshi and sell it for 3 satoshi with %33 gain!  that is crazy gain. People sit all day to mine 0.02btcs. or they can just trade us for 24 hrs and walk away with 0.33BTCs

if some one buys 1 btc worth of karma at 100 satoshis they will have to sell at 130 satoshi to make the same gain.buying 1 btc worth of karma at 1000 satoshi they will have to sell at 1300 satoshi to gain the huge profit that they can gain right now

[Chargin]

Can somebody please create an image which consists of the following 3 or 4 things:
1. A graph of falling karma prices (without prices listed so it can be reused over and over);
2. A bunch of shrimp swimming down in the direction of a whale (preferably a species that eats shrimp) with a thought bubble coming from the shrimp of "The price keeps going down, I need to sell now";
3. A whale just waiting in ambush, its mouth open, with a knife and fork in his flippers (if possible) with a thought bubble "yes, just a little lower, just a few more Karma on the market".
4. If you could also put a confused Karma elephant scratching its head or with the thought bubble "Hmm" in the background that would be great.

I'd also like one for:
1. A graph of rising karma prices (without prices listed so it can be reused over and over);
2. A bunch of shrimp swimming up in the direction of a whale (preferably a species eats shrimp) with a thought bubble of "the price keeps going up, I need to buy now";
3. A whale just waiting in ambush, its mouth open, with a knife and fork in his flippers (if possible) with a thought bubble "yes, just a little higher, just a few more buy orders on the market".
4. If you could also put a confused Karma elephant scratching its head or with the thought bubble "Hmm" in the background that would be great.

Chargin.

[Chargin]

we have consulted with some great devs in the cryptoworld and they all agree Billion coins are not worth for investors.


Also the number one factor that we all miss to see is that karma should not be treated as a penny. because unlike the penny. Karma can be split in satoshis.

1 karma = 1.00000000 Karma

Yes 1 Karma = 100,000,000 Karmaoshi (I just made that up, give me a break).

I think we should be able to tip Karma instead of Karmaoshi. I guess if you can think of better name than Karmaoshi it could be better... maybe Karmaling.

I just edited that from Karmoti, to Karmoshi to Karmaoshi.

Is there any reason we can't have Karma go to more decimal places? This would also help with the conversion. What would happen to people's Karmaoshi in the split, would they need to be rounded up or down?

[bitwho]

we have consulted with some great devs in the cryptoworld and they all agree Billion coins are not worth for investors.


Also the number one factor that we all miss to see is that karma should not be treated as a penny. because unlike the penny. Karma can be split in satoshis.

1 karma = 1.00000000 Karma

Yes 1 Karma = 100,000,000 Karmaoshi (I just made that up, give me a break).

I think we should be able to tip Karma instead of Karmaoshi. I guess if you can think of better name than Karmaoshi it could be better... maybe Karmaling.

I just edited that from Karmoti, to Karmoshi to Karmaoshi.

please think ouside the box with us. Look at bitcoin. they introduced Bits.

Now everyone tips a sum of 100 bits!  which is the same as 0.00000100 BTCs

this is true example that cryptocoins are not pennies

we can introduce Kibs and have it be equivalent of 0.001 karma

so i can tip some one 1000 Kibs!!

 : )

[Chargin]

Haha I like kibs.

According to coinmarketcap.com Karma is currently trading at $0.000021 USD.

Let's assume Karma can with relative ease increase its value 5 fold, I'll round to $0.0001.

If the ratio were changed, the prices would change as follows:
1:100=1 cent (0.2 cents at current prices)
1:1,000= 10 cents (2 cents at current prices)
1:10,000= $1.00 (20 cents at current prices)

I think 1 cent would be perfect, it allows room for further growth. 1:100

Chargin.

[bitwho]

Haha I like kibs.

According to coinmarketcap.com Karma is currently worth $0.000021 USD.

Let's assume Karma can with relative ease increase its value 5 fold, I'll round to $0.0001.

If the ratio were changed, the prices would change as follows:
1:100=1 cent (0.2 cents at current prices)
1:1,000= 10 cents (2 cents at current prices)
1:10,000= $1.00 (20 cents at current prices)

I think 1 cent would be perfect, it allows room for further growth. 1:100

Chargin.

at a spike it might rich that much. but it will not sustain. and it will slowly come down. to probably 0.002 cents with 1:1000 ratio

you math is good if this is one time deal.

you have to keep in mind that we are dealing with billion of coin right now which get sold and then get sold and then get sold all over again. its a on going cycle. there fore you need to treat this coin as it has 100 trillion coins : )

by cutting down to 92 million we dropped down the traders volume to a 9.2 billion coin volume. which is easier to sustain.

[karmala]

"Karma" and "Karmacoin" are now our registered trademarks

http://www.reddit.com/r/KarmaTeam/comments/2ad9hk/karma_and_karmacoin_are_now_our_registered/

[Chargin]

I have created a new thread for the proposed Finance and Accounting workgroup objectives for 2014 here:
http://karmashares.com/forums/index.php/topic,464.0.html

[Alphi]

we have consulted with some great devs in the cryptoworld and they all agree Billion coins are not worth for investors.

software developers are not investors nor are they economists. they should not be consulted for investment advice.

the more people talk about changing this crypto coin the more I realise that some of the people behind karmashares really do not understand economics or crypto currencies.

Karma is a payment system and a currency, it is not a company and it is not a security.

crypto currency has value because of its utility and because it is to some degree finite.


the biggest selling point of BTC was that there could only ever be 21 million coins. this figure will never change and it is what gives BTC its value and scarcity.

there will only ever be 92 billion (or so) Karma coins... people accepted this fact when they bought into this experiment.

if you change that number, (no matter how you do it), then you send two very strong messages to the market.

Firstly you tell all holders of the coin that their investment is not secure. If you thought you had 100 Karma one day then the next day you could have 1... the day after that you could have 100,000...  all at the whim of a few very vocal self serving investors. (if a coin can be reverse split.. then absolutely nothing stops it from being split again in the future)

Secondly you tell future investors AND users of the currency that the coin is not stable.. if I open up my Karma fruit store on the side of the road selling all kinds of fruit... lets say apples for 50,000 Karma each, oranges for 20,000 karma some day in the future I will have change all of my prices, not only that but when I collect sales tax and then go to pay my quarterly tax obligations I am in a complete mess because someone has decided that half way though the financial year they would chop off a few zeros from every karma that I collected.. so now I have to reconcile two completely different sets of accounting numbers.


There is a reason that currencies are not split and reverse split (ie taking zeroes off and adding zeroes to the end).. and that is because it completely messes up the entire economy from the little grandma on the side of the road selling fruit to the large corporation trying to collect and pay its taxes).

Maybe in countries like Zimbabwe this happens but do you really want Karma to become the zimbabwe dollar of the crypto world?


Yes you can do it with shares on the NYSE no problem this is because shares are not, nor are they intended to be, used as a currency for day to day transactions.

And yes it can be argued that not many people are using Karm at the moment so it doesn't affect many people.. but that is beside the point..a dangerous precedent is being set here. I for one would never have invested in BTC if the developers could just change the numbers whenever it suited them.

If Karma splits then so will I... I'm just about done with people constantly arguing about how to manipulate the price.

This is not what Karma was designed for, this is not the ethos of Karma. If people do not like the idea of a currency which is supposed to used for altruism and education instead of making people rich.. then they should leave rather than try to take over the coin... because a coin that does not stick to its original selling point is pointless.

[luqas0891]

you should take a look at the coin Sat were billions did the same maneuver 1000:1 SAT2 currency lost and a lot was after 6 satoshi is 0.00002447 volume was even worsened, investors do not like these changes
https://www.mintpal.com/market/SAT2/BTC

the same thing happened to the lim = limx so that there is a terrible dev

I believe that we should not change the amount of coins, moreover, such was the assumption that the coins will be a lot and now we want to change? I understand what the transition to X11 X13 can to protect the interests of diggers coins

[mashac]

+1 Alphi's previous comment. Do we really need this change..?

[easteagle13]

we have consulted with some great devs in the cryptoworld and they all agree Billion coins are not worth for investors.

software developers are not investors nor are they economists. they should not be consulted for investment advice.

the more people talk about changing this crypto coin the more I realise that some of the people behind karmashares really do not understand economics or crypto currencies.

Karma is a payment system and a currency, it is not a company and it is not a security.

crypto currency has value because of its utility and because it is to some degree finite.


the biggest selling point of BTC was that there could only ever be 21 million coins. this figure will never change and it is what gives BTC its value and scarcity.

there will only ever be 92 billion (or so) Karma coins... people accepted this fact when they bought into this experiment.

if you change that number, (no matter how you do it), then you send two very strong messages to the market.

Firstly you tell all holders of the coin that their investment is not secure. If you thought you had 100 Karma one day then the next day you could have 1... the day after that you could have 100,000...  all at the whim of a few very vocal self serving investors. (if a coin can be reverse split.. then absolutely nothing stops it from being split again in the future)

Secondly you tell future investors AND users of the currency that the coin is not stable.. if I open up my Karma fruit store on the side of the road selling all kinds of fruit... lets say apples for 50,000 Karma each, oranges for 20,000 karma some day in the future I will have change all of my prices, not only that but when I collect sales tax and then go to pay my quarterly tax obligations I am in a complete mess because someone has decided that half way though the financial year they would chop off a few zeros from every karma that I collected.. so now I have to reconcile two completely different sets of accounting numbers.


There is a reason that currencies are not split and reverse split (ie taking zeroes off and adding zeroes to the end).. and that is because it completely messes up the entire economy from the little grandma on the side of the road selling fruit to the large corporation trying to collect and pay its taxes).

Maybe in countries like Zimbabwe this happens but do you really want Karma to become the zimbabwe dollar of the crypto world?


Yes you can do it with shares on the NYSE no problem this is because shares are not, nor are they intended to be, used as a currency for day to day transactions.

And yes it can be argued that not many people are using Karm at the moment so it doesn't affect many people.. but that is beside the point..a dangerous precedent is being set here. I for one would never have invested in BTC if the developers could just change the numbers whenever it suited them.

If Karma splits then so will I... I'm just about done with people constantly arguing about how to manipulate the price.

This is not what Karma was designed for, this is not the ethos of Karma. If people do not like the idea of a currency which is supposed to used for altruism and education instead of making people rich.. then they should leave rather than try to take over the coin... because a coin that does not stick to its original selling point is pointless.

Please let your voices be heard here: http://karmashares.com/forums/index.php/topic,463.msg2391.html#msg2391

I, personally did not vote for or against any number...but I believe in the points you raised, this is a community controlled activity so it is imperative that all sides be properly heard.

[learminer]

I agree with pretty much everything Alphi said.

I also posted on the Karmashares forum on this topic. Just to make my voice heard here too, here's the tl;dr - I don't like the idea

Karma is - for all the advantages and disadvantages it brings - a "billion coin". It is one of the defining aspects of the coin. Keep it that way, please!