[ANN][KARM] Karma / ₭ / X11

[socoban]

Nah that would be stupid, because they would have first anounced a sale and then sold because selling 500 million coins on 10% of the price they 'could' be tomorrow is dumb and our devs are smart hehe

There is another option, if they anounce sale and it will not happen, it is scam and fraud. If they dump 1 day before anoncement and than anonce it was not sold, they did not any fraud. It was just our fault we thought deal was signed. The difference is, first is crime with big profit, second is not crime with small profit:)

if you are going to commit a fraud like that then it would be better to announce your fake sale and keep selling small amounts of coins while the price is high so nobody notices.

crashing the price is not the MO of a fraudster.

it is however the MO of a thief who needs to get rid of stolen coins quickly.
or a market manipulator who wants to cause panic.

It is not a fraud, to anounce there will be anouncement:) So dumping hard on big buy walls is not fraud, since nothing was promised. They can still anounce there will be no sale and they are fine:)  But this doesn't seem likely. If that was the plan, there would be more pumping and more broader promotion on chats and forums. I hope it was just manipulation + panic selling, or just a stolen account.

[Bierworst]

If this was a theft, i feel very very sorry for the owner but keeping THIS amount of coins on an exchange? Then you probably dont have a brain

[Alphi]

It is not a fraud, to anounce there will be anouncement:) So dumping hard on big buy walls is not fraud, since nothing was promised. They can still anounce there will be no sale nd they are fine:)  But this doesn't seem likely. If that was the plan, there will be more pumping and more broader promotion on chats and forums. I hope it was just manipulation + panic selling, or just a stolen account.

I'm not sure who you think "they" are but Karmashares members cannot dump the coins held in the Karma fund without all members voting on it.
members being the people who own Karmashares.

so yes if there was dumping happening from the Karmashares fund then it would be a fraud because it is in clear breach of the code of conduct.

as for the so called "devs" the original developer left a long time ago the only other "devs" are people who are hired to maintain the code and volunteers.

I believe they are not major Karma holders and I think they might even be paid in BTC for their work. But either way, since this coin was not premined all the Karma they own, they had to either work for or purchase so they (ie the devs) can do whatever they want with the coins they hold.

[socoban]

Nah that would be stupid, because they would have first anounced a sale and then sold because selling 500 million coins on 10% of the price they 'could' be tomorrow is dumb and our devs are smart hehe

There is another option, if they anounce sale and it will not happen, it is scam and fraud. If they dump 1 day before anoncement and than anonce it was not sold, they did not any fraud. It was just our fault we thought deal was signed. The difference is, first is crime with big profit, second is not crime with small profit:)

if you are going to commit a fraud like that then it would be better to announce your fake sale and keep selling small amounts of coins while the price is high so nobody notices.

crashing the price is not the MO of a fraudster that controls a large amount of coins.

it is however the MO of a thief who needs to get rid of stolen coins quickly.
or a market manipulator who wants to cause panic.

I think it were 2 dumpers. First one dumped 500 million coins. It could be some multipool which mined on X11 algo since the switch to X11. KARM is lowering mining reward to 20000 KARM/Block in less than 1 day. So it will not be profitable to be mined at this price. They could decide to dump all KARM and switch to another coin.  Than someone other could panic 4 minutes later and create sell order. It could even happen he planed to create big sell order at 140 litoshi and accidently sold at 14. It happened to me in past multiple times. I sold and bought accidently few times 10x cheaper/expensive some coins, but it was always small amount on low volume coins.

[Alphi]

If this was a theft, i feel very very sorry for the owner but keeping THIS amount of coins on an exchange? Then you probably dont have a brain

coins don't have to be stolen from an exchange they can just as easily be stolen from a pool or a wallet on a PC.
back in the early days of Bitcoin there were trojans that would steal wallet.dat files from people computers.
those who did not properly secure their coins by at least encrypting their wallet file would wake up one morning and find all their coins gone.

[socoban]

It is not a fraud, to anounce there will be anouncement:) So dumping hard on big buy walls is not fraud, since nothing was promised. They can still anounce there will be no sale nd they are fine:)  But this doesn't seem likely. If that was the plan, there will be more pumping and more broader promotion on chats and forums. I hope it was just manipulation + panic selling, or just a stolen account.

I'm not sure who you think "they" are but Karmashares members cannot dump the coins held in the Karma fund without all members voting on it.
members being the people who own Karmashares.

so yes if there was dumping happening from the Karmashares fund then it would be a fraud because it is in clear breach of the code of conduct.

as for the so called "devs" the original developer left a long time ago the only other "devs" are people who are hired to maintain the code and volunteers.

I believe they are not major Karma holders and I think they might even be paid in BTC for their work. But either way, since this coin was not premined all the Karma they own, they had to either work for or purchase so they (ie the devs) can do whatever they want with the coins they hold.

Of course I am not talking about donated KARM, it would be fraud. There were some people in the forum claiming they own 1 billion KARM since it was extra cheap. Those could do that easyly, if they know current status of lill deal.

[Alphi]

It is not a fraud, to anounce there will be anouncement:) So dumping hard on big buy walls is not fraud, since nothing was promised. They can still anounce there will be no sale nd they are fine:)  But this doesn't seem likely. If that was the plan, there will be more pumping and more broader promotion on chats and forums. I hope it was just manipulation + panic selling, or just a stolen account.

I'm not sure who you think "they" are but Karmashares members cannot dump the coins held in the Karma fund without all members voting on it.
members being the people who own Karmashares.

so yes if there was dumping happening from the Karmashares fund then it would be a fraud because it is in clear breach of the code of conduct.

as for the so called "devs" the original developer left a long time ago the only other "devs" are people who are hired to maintain the code and volunteers.

I believe they are not major Karma holders and I think they might even be paid in BTC for their work. But either way, since this coin was not premined all the Karma they own, they had to either work for or purchase so they (ie the devs) can do whatever they want with the coins they hold.

Of course I am not talking about donated KARM, it would be fraud. There were some people in the forum claiming they own 1 billion KARM since it was extra cheap. Those could do that easyly, if they know current status of lill deal.

yeah im not sure if I believe those guys.. i've seen a couple of them too.
I don't know if they do or don't hold a billion Karma.. but I do know that they aren't Karma devs because I don't recall seeing any of their names on any of the karma websites.

also it seems a little odd to me that someone would claim to hold 1 billion... why not 1.1 or 1.2, maybe they are just too lazy to count their coins or maybe they are just full of it.. who knows.

[huige007]

14 cheap cheap.

[mitache365]

One whale out. good!

[kosmost]

Is it possible to get a message from one of the devs on here proving us, all the karmashares coins are safe and that the devs also dont know what caused this?
Thank you in advance

Yes, the Karmashares coins are safe (as always)

I don't think anyone has any accurate explanation for market activity.

[bitwho]

hmm we have to wait and see what the deal was.  hope no account got hacked. if they did i expect some one to start posting soon...


also it can not be inside trading because only Komost knows the news. no one else.


Thanks for being so quick to call us scammers. You got us. our whole purpose was to have a coin rise from ashes to high satoshis only to come back down to 1 and sometimes later cash out at 1!  makes sense! 

[Bierworst]

Is it possible to get a message from one of the devs on here proving us, all the karmashares coins are safe and that the devs also dont know what caused this?
Thank you in advance

Yes, the Karmashares coins are safe (as always)

I don't think anyone has any accurate explanation for market activity.

Thank you kosmost, we are awaiting the good or bad (no news) tomorrow:) i hope you are well!

[Bierworst]

hmm we have to wait and see what the deal was.  hope no account got hacked. if they did i expect some one to start posting soon...


also it can not be inside trading because only Komost knows the news. no one else.


Thanks for being so quick to call us scammers. You got us. our whole purpose was to have a coin rise from ashes to high satoshis only to come back down to 1 and sometimes later cash out at 1!  makes sense! 

Well bitwho, i did my very best to give an explanation that this would be the dumbest thing devs would do because of the low amount of money, meaning you devs could not have scammed us.

Take care

[Chargin]

I reported this to Mintpal and Cryptsy just in case it was a hacked account and for the off chance that they can actually do something to recover the funds if so.

Chargin.

[kosmost]

As a precaution, please make sure your coins are secure.

If on an exchange, put them in your wallet.

If in your wallet, make sure you have encrypted it with a difficult password.

If you have a large balance associated with a single wallet you may even consider breaking up your balance into multiple wallets to further minimize risk.

Also, make sure you have a decent anti-virus/anti-trojan program running on your computer and have scanned your computer at regular intervals.

Anyone else, please feel free to add to this.

[bitwho]

hmm i hope it is not an hacked account. Now that i think about some one tried to log in into my mintpal 2 days back. Maybe they got successful with some one else


being since each sell was almost on the dot this seems the be a bot execution. Probably to cause panic sells. The LTC/BTC market are all low so no one exchanged ltc back for btc to cash out. therefore it seems this culprit is still active waiting for the low sells to buy back


Still.. it doesnt make sense. the price came all the way down to 14 litoshi..

[socoban]

hmm i hope it is not an hacked account. Now that i think about some one tried to log in into my mintpal 2 days back. Maybe they got successful with some one else


being since each sell was almost on the dot this seems the be a bot execution. Probably to cause panic sells. The LTC/BTC market are all low so no one exchanged ltc back for btc to cash out. therefore it seems this culprit is still active waiting for the low sells to buy back


Still.. it doesnt make sense. the price came all the way down to 14 litoshi..

How many people you know have such low buy orders? I went through many coins and almost ll of them have no buy orders. Nobody expect KARM will crash to 14 satoshi. It is possible someone sold coins to himself, losing some small money on high orders but having high volume on lowest price on his own orders. Tme most of the volume on second dump was on low orders.

[bitwho]

hmm i hope it is not an hacked account. Now that i think about some one tried to log in into my mintpal 2 days back. Maybe they got successful with some one else


being since each sell was almost on the dot this seems the be a bot execution. Probably to cause panic sells. The LTC/BTC market are all low so no one exchanged ltc back for btc to cash out. therefore it seems this culprit is still active waiting for the low sells to buy back


Still.. it doesnt make sense. the price came all the way down to 14 litoshi..

How many people you know have such low buy orders? I went through many coins and almost ll of them have no buy orders. Nobody expect KARM will crash to 14 satoshi. It is possible someone sold coins to himself, losing some small money on high orders but having high volume on lowest price on his own orders. Tme most of the volume on second dump was on low orders.

looking at history most of those order were sold on the same second. consistently. order of 20 ltcs,,, 1 ltc and 40 ltc worth within the same second. this is work of a bot. Considering no ltc was traded back to btc market and no other ltc market has any volume (pnd has over 1200 ltc but it seems they are experiencing massive dumping).To me it doesn't make any sense to be a human selling to cash out.

Simple bot-sale manipulation 101

annoying. now there is also a coin offering trading bot. so tons of news inexperience cryptoenthusiast are all of the sudden playing the ping-pong bot :/

we're gonna see a lot of coins rise in prices with no volume to back them up pretty soon

[easteagle13]

And I thought someone putting 30 litoshis buy order is dreaming...

200+MILLIONS for 14 litoshis?

Who can explain that? Well, check your wallets if your have not lost anything. Let this one do his own thing ^_^.

The most important thing is that your own accounts and coins are still there.

To those who yelled SCAM, and insider trading. KARMA will get you hahaha

[Bierworst]

Tomorrow, the buyer at 14 litoshi will give the buggest champaign party ever given.
I hope we are all invited!!