[ANN][KARM] Karma / ₭ / X11

[cryptowho]

Without that, it's simply psychology.  If you reduce the number to 10%, say 9bil, and the price goes from 1 sat to 10 sat you think "oh, this makes the market better," but if trading at 1sat worth of ltc or 10 sat, it is still the same thing.  Imo, psychologically, people getting into the idea behind karma will like the idea of giving to people.  Giving someone .001 is a joke to the average person and they wont bother.  Giving 10, 100, 1000, etc seems like it is something regardless of if the value of all of those is the same.  I think part of the pain for btc to move forward is its high value.  No one, not really understanding bitcoin, wants to spend $200 on .3 of something or gift their friend .001.  If they were buying 30, it seems like something and when the price moves they can interpret it better.  

In the end its the same thing, different numbers, and changing it just to stay on the satoshi wagon is a waste imo.  I personally think the strength is in the amount, long term specially.  I think the feeling and psychology behind that is a strong strong point for adoption.  The other side is people selling it don't want to sell 1mil for .x btc, selling smaller amounts feels less like a waste to them.  But its the same thing either way.  Raising the individual value of karma, imo, goes against the idea of people using it for its purpose and is just traders wanting their way and people excited about it wanting to see it worth something.

A good example is the tipping app.  People toss around 1k-50k of a coin and its like 'wow, look what they gave out'  If they were tossing out 1 and 2, its just meh--I might not know anything about either coin, but I notice to big numbers and don't think twice about the small.  That is personally why I always bought into the size of karma. When I see something great I want to say, "here is 50k for awesomeness," not "here, take my meager .5"--even if they equal the same thing.  With the proposed ratios that would be an extreme example but its the same idea.  If you are interesting in this coin and believe in its long term, wide, adoption I think changing the amount is a temporary bandage and a waste of potential--and also quite risky if the market doesn't move to meet the new size.

I agree with this post.
I think psychology is a very important aspect when dealing with this.

Another thing that worries me is the growth potential / reward / expectations after the reverse split.
I keep reading about attracting investors so what can we expect from an investor point of view?
One thing is for certain, the investor will want his capital back plus some.
This means if the investors don't see a high growth potential, they will simply not invest.
So if we take for instance 1:1000 split wouldn't this hurt us more because then people would have to buy more to reach their initial growth expectation? I don't think people will start doing it...
Just my 2 karma cents....

Yeah , sure 20 yeas from now. When karma has $billion market. And its mains stream. But right now   At this moment we are overwhelmed by people looking for quick profits. as we stand right now. These coins are too many to keep a healthy cycle. No investor will want to invest because they know that some one can own 50mill coins with $50.If the price rises up to say 20 satoshis we will get mass dumping from people in it for the quick on. Only when people sell their coins they will be in millions and crushing down the price back to 3-4 satoshis


What we are trying to do is minimize people trying to make a quick profit. As mentioned billion time above if some one would try to make 1 btc gain while we are in 1:1000 split. They would have to buy at 1000 satoshi and sell at 2000 satoshis. They would have to wait for the price to rise 1000 satoshis to see that gain. There'd fore it would minimize any outsiders from jumping in to take adventage of us.

Such move will leave only people who really believe in us to keep investing. Showing true collets of te coin


Since most of our investors have shown to hold we would get rid of all the one holding us back.

From now until we go mainstream as you all keep posting about its a long jurney. Perhaps  by then we would have  many token coins that can be used  for deferent options and one of them could have billions of coins to satisfy the feel of tipping more and 100 karma


Ps: no one tips karma. Except the team. 

[easteagle13]

If you haven't shared your point of view in this matter please make sure to do so soon.


http://karmashares.com/forums/index.php/topic,463.msg2487.html#msg2487

[kahir]

1:1000 sounds easy to get ... and friendly

[youseeberkeley]

I think there is a bot doing sells on ltc market, when I place an order, it auto-places one 1 litoshi less.

So I manipulated it down to the lowest possible price, and held it there haha.

Buy them up!  The next price is 20% higher!(:

[chunkypools]

Did you know that Karm has been one of the most consistently profitable coins to mine for weeks now?

If you're looking for a reliable pool with an approachable staff & community, get on board at chunky.

[easteagle13]

Excuse me...I just want to share another angle of this issue of reverse split at 1000:1(possibility).

OUR BUDGET FOR DEVELOPMENT:

At the moment we have 8,524,276,102 or 8.5Billion karma at 3 satoshi Karmashares, roughly 160,000 dollars share capital.

Think how easy it is to rise from 3 satoshis to 10 satoshis when our X11 and other security enhancements are finally implemented. Growing 330%. Our budget follows; becoming 528,000$ easily.

Will it be that easy to grow from 3000 satoshis to 10 000 satoshis? This is the growth that we need to attain the same budget growth at 1000:1 split.

Therefore instead of fast tracking our project developments it may actually slow our growth down.

At our present coin number, 10 satoshi per karma is very under valued. So if we say the fair market price should be 30sats, at the split we have to reach 30 000sat/karma. Although it is possible it will not be as easy.

[pugwilfy]

Here's a funky idea, buyout trade my bit then reap the 2% auto exchange fees back in to karmashares, or even better instead of paying out BTC change the payout to karma.

The way I see it the only people making money round here are the multipool owners, exchanges or rental website owners.

[CryptoBull]

WHEN CAN I USE X11 ALGO 
thank you

[Triffin]

Target date is around the end of July ..

See page 143 of this thread or find 'kosmost's'
posts on this thread for the details ..

Triff ..

[CryptoBull]

Target date is around the end of July ..

See page 143 of this thread or find 'kosmost's'
posts on this thread for the details ..

Triff ..

thanx

[AGcrypto]

WHEN CAN I USE X11 ALGO  
thank you

Very soon, our dev is almost done and has been testing the algorithm in a privet test net to make sure there are no issues that will need to be addressed before the transfer.  We should be getting an update very soon.  

[easteagle13]

As part of our marketing and PR drive I have initiated an un-official poll about the required number of coins that can be sent to Karmashares LLC for shares, please vote or comment so we can think this important matter through.


http://karmashares.com/forums/index.php/topic,473.0.html


-east

[Alphi]

Just a reminder to all people holding their coins on exchanges for extended periods of time... this kind of practice is not safe.

mintpal was just hacked and  some reports claiming upto 8 million or so vericoin were stolen. this only goes to show that no exchange and no coin is completely safe regardless of if it is PoW or PoS.

details are still light as to how the coins were stolen. If I find out more I will report back.

https://support.mintpal.com/index.php?module=announce&sec=view&id=17

[p4r4m0un7]

Just a reminder to all people holding their coins on exchanges for extended periods of time... this kind of practice is not safe.

mintpal was just hacked and  some reports claiming upto 8 million or so vericoin were stolen. this only goes to show that no exchange and no coin is completely safe regardless of if it is PoW or PoS.

details are still light as to how the coins were stolen. If I find out more I will report back.

https://support.mintpal.com/index.php?module=announce&sec=view&id=17

10x. And this is also another reminder how important are this changes -http://karmashares.com/forums/index.php/topic,381.0.html

But overall Your coins are safe in your wallet protected with password. Keep them there.

[Alphi]

Just a reminder to all people holding their coins on exchanges for extended periods of time... this kind of practice is not safe.

mintpal was just hacked and  some reports claiming upto 8 million or so vericoin were stolen. this only goes to show that no exchange and no coin is completely safe regardless of if it is PoW or PoS.

details are still light as to how the coins were stolen. If I find out more I will report back.

https://support.mintpal.com/index.php?module=announce&sec=view&id=17

10x. And this is also another reminder how important are this changes -http://karmashares.com/forums/index.php/topic,381.0.html

But overall Your coins are safe in your wallet protected with password. Keep them there.

yep what I am concerned about is that Mintpal are claiming they are working to hardfork vericoin to get their coins back.
this has already created a backlash within the vericoin community. On the one hand if it was all mintpals fault and they can influence the vericoin devs to hard fork and reverse transactions then that sets a dangerous precedent.
on the other hand if they are unable to hard fork vericoin then mintpal could end up freezing funds (like vircurex) or going into insolvency.

this is why I posted here in this thread.. just to give people a heads up to keep their eyes open and watch closely because it could end up affecting all people who use mintpal.

lets hope not.. mintpal is a good site and I would hate to see i have to halt trading for any extended period of time.

[luqas0891]

hey I have a lot of Karma coin and still I have been following this thread, I have a few questions because the answers are not clear what to do next, and kidding increasing doubts

1 Do KARMA as the script goes on X11 This creates a new currency will only name KARMX ?

2 Will there be two parallel currencies KARM and KARMx ?

whether their main chain will be linked together ?

3 If I come to the denomination (eg 1000:1) KARM whether the exchange will take place in the portfolios of the machine and you will need to make a simple exchange will send you as creators of the indicated address and you would send a new currency KARMx? as it has happened with SAT = SAT2 or LIM = LIMx?

Please reply on the forum so that we all understand and be clear because I know that not only did I have such questions.

[ShawnLeary]

hey I have a lot of Karma coin and still I have been following this thread, I have a few questions because the answers are not clear what to do next, and kidding increasing doubts

1 Do KARMA as the script goes on X11 This creates a new currency will only name KARMX ?

2 Will there be two parallel currencies KARM and KARMx ?

whether their main chain will be linked together ?

3 If I come to the denomination (eg 1000:1) KARM whether the exchange will take place in the portfolios of the machine and you will need to make a simple exchange will send you as creators of the indicated address and you would send a new currency KARMx? as it has happened with SAT = SAT2 or LIM = LIMx?

Please reply on the forum so that we all understand and be clear because I know that not only did I have such questions.

1. No, we are only changing the mining algo.

2. No.

3. This is most likely not happening so please disregard.  More info to come. 

[AGcrypto]

Just a reminder to all people holding their coins on exchanges for extended periods of time... this kind of practice is not safe.

mintpal was just hacked and  some reports claiming upto 8 million or so vericoin were stolen. this only goes to show that no exchange and no coin is completely safe regardless of if it is PoW or PoS.

details are still light as to how the coins were stolen. If I find out more I will report back.

https://support.mintpal.com/index.php?module=announce&sec=view&id=17

10x. And this is also another reminder how important are this changes -http://karmashares.com/forums/index.php/topic,381.0.html

But overall Your coins are safe in your wallet protected with password. Keep them there.

yep what I am concerned about is that Mintpal are claiming they are working to hardfork vericoin to get their coins back.
this has already created a backlash within the vericoin community. On the one hand if it was all mintpals fault and they can influence the vericoin devs to hard fork and reverse transactions then that sets a dangerous precedent.
on the other hand if they are unable to hard fork vericoin then mintpal could end up freezing funds (like vircurex) or going into insolvency.

this is why I posted here in this thread.. just to give people a heads up to keep their eyes open and watch closely because it could end up affecting all people who use mintpal.

lets hope not.. mintpal is a good site and I would hate to see i have to halt trading for any extended period of time.

Thanks for the heads up, as a precaution i went ahead and moved my coins to my wallet just in case. I trust Mintpal as it's a very good exchange but it never hurts to take precautions.    

[Alphi]

further update on the mintpal saga.

people are saying on the vericoin thread..
8 million vericoin stolen equates to about $2,000,000 or 1/3 of all the vericoin in circulation.

my take...

if the thieves manage to keep the coins then they can stake them and get 1/3 of all new coins being created for eternity and for doing absolutely nothing (as vericoin is PoS) and mintpal will have to absorb a massive financial hit.

I believe that vericoin and mintpal have no other choice than to hard fork and roll back the vericoin blockchain which will effectively void every transaction that happened since the attack. this is because if they do not.. they will both suffer immensely.

what we are seeing played out in realtime before our very eyes, is what could happen to Karma if people continue to hoard coins and store them in centralized places like exchanges. this is why I have always been against policies that encourage hoarding and centralization of coins.

the message is clear... encourage people to spread the coins around and keep them safely tucked away where only they have access to them.

[easteagle13]

Just a reminder to all people holding their coins on exchanges for extended periods of time... this kind of practice is not safe.

mintpal was just hacked and  some reports claiming upto 8 million or so vericoin were stolen. this only goes to show that no exchange and no coin is completely safe regardless of if it is PoW or PoS.

details are still light as to how the coins were stolen. If I find out more I will report back.

https://support.mintpal.com/index.php?module=announce&sec=view&id=17

+1 thanks a lot Alphi