[ANN][KARM] Karma / ₭ / X11

[kosmost]

Announcement:

Anonymous users can now post replies in the Karma & Karmashares forum

http://karmashares.com/forums/index.php/topic,551.0.html

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[Alphi]

New post:

"What Can We Learn from Dogecoin (continued)"
http://karmashares.com/forums/index.php?topic=550.msg3014#msg3014

the biggest problems doge coin had were:

1) the dropping hash rate which put their network security at risk
2) the negative press from various hacking and botnet scandals.

dogecoin has managed to somewhat resolve point 1 by adopting merge mining.
the price has not recovered because the market is extremely apprehensive at the moment.


I think karma has somewhat addressed issue 1 with the switch to X11. In all honesty it remains to be seen whether X11 or merge mining is the right way to go.

as for point 2.

I just noticed that someone jumped on to http://karma.p2pool.altcoin.dk/ with 800MH.. to put that into perspective that is the equivalent of roughly 80-100 fully loaded 4 card GPU rigs.
the average 3 bedroom house can only supply enough power to run 10-15 rigs at 500W each (this is how much power my fully loaded rig draws)

so there are only 3 possibilities for this mystery mega miner.

A) they are a large industrial scale miner operating out of a warehouse with an abundance of super cheap or free power.
B) the Karma network has been targeted by a botnet or hackers that are redirecting mining packets as per http://www.coindesk.com/hackers-reroute-isp-traffic-steal-bitcoins/
C) someone has X11 ASICs.

given the sheer power requirements to run an operation that big and given that there is currently no press about X11 ASICs I am inclined to go with possibility B.


so in short.. what we can learn from dogecoin is that no coin is free from the possibility of scandal.
as for how we might deal with the issue of a potential botnet or hacking scandal... it might be worthwhile discussing it before it actually happens.. I mean it really could be a guy with a massive warehouse full of rigs.. or someone with a box of X11 asics but it if isn't then we should have some kind of action plan in place.

EDIT.. I should note that this is not necessarily a bad thing because it means that Karma has the attention of someone with a huge amount of mining power at their disposal. but I think we should also be mindful of that old adage "beware of Greeks bearing gifts"

[life2you]

most of my friends tell me that KARM will be the next explosion.So i will study and buy

[ptman]

most of my friends tell me that KARM will be the next explosion.So i will study and buy

Do it.
But add "helping the community with my skills" to the equation

[Alphi]

most of my friends tell me that KARM will be the next explosion.So i will study and buy

Do it.
But add "helping the community with my skills" to the equation

that's right.. peoples time and support are more important than money.

[ptman]

Please write on the Karmashares forum thread relating to the game if you want to give any suggestions, or send me a PM here.

http://karmashares.com/forums/index.php?topic=223.msg795#msg795

[toeshe]

I do not see it fit to release any news that may move markets without a way to track transactions

Thats not good news thats horrable

[pdogg147]

I do not see it fit to release any news that may move markets without a way to track transactions

Thats not good news thats horrable

Sorry you feel that way.   Did you read the rest of the post?  That is not to say that developments that may move markets (whatever they may be) will never be announced, just after a functioning explorer is in place.  This is in the best interest of Karma and Karmashares LLC.

[toeshe]

YES i did? not sure what you are referring to THE massive dump rumors or the part of looking at explorers for the last month.... we still waiting?

[easteagle13]

Excellent quality post!

But you are wrong about one thing.
The Karma team members do not own 50% of the coin.
I believe its not even close to that (maybe not even 10%... but I can not be sure of this).

I know some forum users that hold more than 1 billion coins and they are doing absolutely nothing to help the development of Karma.
Those are the ones, like you said, that should help by paying Karma to the ones that are doing the work, because they are the ones that are going to benefit more from the success of the Karma projects.

I know you mean well, but the fact is, no one has the right to tell anyone else how he/she should handle the coins they have no matter how much or how little. They can give them all away or they can keep every one of them. (We all hope though they will care enough to help out as a believer in Karma's core principle of doing good.)

But we actually have "budget" that is the reason of the coins exchanged for shares so that Karma/Karmashares can have developmental budget. We only have to decide as shareholders when to actually use it. By the looks of it, we should decide NOW. We need so many things to move our iPOCOs forward and to complete the technical necessities of Karma.
We need talented and devoted karma people. But they don't come free.

This is a quote from Karmashares LLC

"Karmashares LLC is the operating entity of Karma, the Bitcoin and Litecoin-like digital currency that is based on "doing good". It is currently forming in the state of Wyoming, USA, for purposes of creating long term value for holders of Karma by developing revenue-generating products and services."

[ptman]

YES i did? not sure what you are referring to THE massive dump rumors or the part of looking at explorers for the last month.... we still waiting?

Dump?
Where?

If you know of someone dumping please tell me because I would like to buy at discount prices!

[toeshe]

I did say rumors it takes like 3 days of trading for a single BTC

[Youghoor]

YES i did? not sure what you are referring to THE massive dump rumors or the part of looking at explorers for the last month.... we still waiting?

Dump?
Where?

If you know of someone dumping please tell me because I would like to buy at discount prices!

well i also like to buy if anyone sell them at cheap price.

[UrsaMajorisBeta]

So...
I've had this curiosity for a few months already.
If i wanted to develop for cryptos (be it a exchange, an api, a wallet or the code of a coin), what should I start learning?
Is there an specific language to do it?
Thanks in advance.

[easteagle13]

So...
I've had this curiosity for a few months already.
If i wanted to develop for cryptos (be it a exchange, an api, a wallet or the code of a coin), what should I start learning?
Is there an specific language to do it?
Thanks in advance.

I think C++ and Javascript would be good starting points.

[socoban]

I do not see it fit to release any news that may move markets without a way to track transactions

Thats not good news thats horrable

There is a way to track transaction. I finished today KARMA explorer. it is 100% functional: http://162.243.209.71:3000/
I will let it be online until I do not install fresh install for Kosmost. It shows everything we need for trancking. We just need to move it to new server, that is all.

There were few bugs with syncing and transactions, I fixed it. It shows now KARM sign everywhere. Another problem was block reward, It shows block rewards correctly for every block starting from block 29000, before they were random and I can't see easy way, how to extract that info.

When I will have spare 2 hours, I will reinstall it to new server and than give access to Kosmost.

[pdogg147]

YES i did? not sure what you are referring to THE massive dump rumors or the part of looking at explorers for the last month.... we still waiting?

I believe you are referring to #2 here.

 From Kosmost http://karmashares.com/forums/index.php/topic,546.0.html

We have some updates to the VC offer for Lill that I would like to release.

However, as I mentioned to the team a couple of weeks ago there was a high probability that we may run into an issue with a core service for Karma (as the person that put up the block explorer for Karma randomly deleted all of their Karmashares forum posts, without any explanation, so we began to seek out alternatives in case they decided to do the same thing with the Karma block explorer. A few days later, they did and now another member of the community has kindly offered to install a block explorer on our servers.)

My reasoning is as follows:

1) I do not see it fit to release any news that may move markets without a way to track transactions

2) As Karmashares has over 8 billion coins there is the chance that some investors may think we are using this opportunity to "dump" coins onto the market, or somehow take advantage of the lack of public ledger

I would expect to release news regarding Lill once we have a block explorer up and running.

We've been looking for block explorer alternatives for over a month now, but this latest (unnecessary) event has caused us to take the need more seriously. It's actually good that it happened, as we will have a much more useful block explorer that we can work from.

Perhaps you are misinterpreting the message.  What this means is that Karmashares LLC wants to have transparency with the 8 billion plus coins that are held in the fund.  Therefore, having any actions such as releasing information which may affect (or pump) the price could be viewed as a way for the Karmashares LLC fund to increase the price to sell coins.  Without an active block explorer there is no way to track the coins.  Make sense?

This was NOT an indication that Karmashares LLC IS going to dump coins in any way.  The LLC has never sold any coins, not even to fund any projects including the switch to X11.  Those funds were paid by the Karma Team.  Most other projects were paid for by Kosmost and some continue to be funded by him such as server costs, etc.

The second part of this was that the Block Explorer upgrade has been being looked at for the past month, which is true.  However, only recently was the previous basic Block Explorer pulled down by alt[Suspicious link removed]d for whatever reason.

[UrsaMajorisBeta]

I do not see it fit to release any news that may move markets without a way to track transactions

Thats not good news thats horrable

There is a way to track transaction. I finished today KARMA explorer. it is 100% functional: http://162.243.209.71:3000/
I will let it be online until I do not install fresh install for Kosmost. It shows everything we need for trancking. We just need to move it to new server, that is all.

There were few bugs with syncing and transactions, I fixed it. It shows now KARM sign everywhere. Another problem was block reward, It shows block rewards correctly for every block starting from block 29000, before they were random and I can't see easy way, how to extract that info.

When I will have spare 2 hours, I will reinstall it to new server and than give access to Kosmost.

Socoban, everything is great! Some logos would be fine, though.
Just one thing, BTC ticker still shows up in Latest transactions.

[ptman]

YES i did? not sure what you are referring to THE massive dump rumors or the part of looking at explorers for the last month.... we still waiting?

I believe you are referring to #2 here.

 From Kosmost http://karmashares.com/forums/index.php/topic,546.0.html

We have some updates to the VC offer for Lill that I would like to release.

However, as I mentioned to the team a couple of weeks ago there was a high probability that we may run into an issue with a core service for Karma (as the person that put up the block explorer for Karma randomly deleted all of their Karmashares forum posts, without any explanation, so we began to seek out alternatives in case they decided to do the same thing with the Karma block explorer. A few days later, they did and now another member of the community has kindly offered to install a block explorer on our servers.)

My reasoning is as follows:

1) I do not see it fit to release any news that may move markets without a way to track transactions

2) As Karmashares has over 8 billion coins there is the chance that some investors may think we are using this opportunity to "dump" coins onto the market, or somehow take advantage of the lack of public ledger

I would expect to release news regarding Lill once we have a block explorer up and running.

We've been looking for block explorer alternatives for over a month now, but this latest (unnecessary) event has caused us to take the need more seriously. It's actually good that it happened, as we will have a much more useful block explorer that we can work from.

Perhaps you are misinterpreting the message.  What this means is that Karmashares LLC wants to have transparency with the 8 billion plus coins that are held in the fund.  Therefore, having any actions such as releasing information which may affect (or pump) the price could be viewed as a way for the Karmashares LLC fund to increase the price to sell coins.  Without an active block explorer there is no way to track the coins.  Make sense?

This was NOT an indication that Karmashares LLC IS going to dump coins in any way.  The LLC has never sold any coins, not even to fund any projects including the switch to X11.  Those funds were paid by the Karma Team.  Most other projects were paid for by Kosmost and some continue to be funded by him such as server costs, etc.

The second part of this was that the Block Explorer upgrade has been being looked at for the past month, which is true.  However, only recently was the previous basic Block Explorer pulled down by alt[Suspicious link removed]d for whatever reason.

Now that socoban released a new block explorer, the Karma team can start giving again the very good news that could affect the price

[easteagle13]

YES i did? not sure what you are referring to THE massive dump rumors or the part of looking at explorers for the last month.... we still waiting?

Dump?
Where?

If you know of someone dumping please tell me because I would like to buy at discount prices!

@ptman I just "dumped" 200k on you, at the cheapest price