Post
Topic
Board Announcements (Altcoins)
Re: [ANN][KARM] Karmacoin - 6 Exchanges - Most Profitable 11 Days Straight
by
CryptoMF
on 19/02/2014, 02:00:54 UTC

    ATTENTION EVERYONE WHO MINES OR BUYS KARMACOIN!!!

All the pools and regular miners getting massively ripped off on the block rewards right now. This is blatant and obvious to anyone who cares to look at the publicly available numbers. Their is no other explanation for what is happening. I am not going to try to tell anyone what to do but you look at the numbers and make your own decisions.

Last 24 hours of blocks found. Time period 4 pm on 2/17/2014 to 4 pm 2/18/2014 (PST timezone)

The two biggest pools for Karmacoin

http://karma.hashstrike.com = 230 blocks and 98155792.429 coins mined for an average block size of 426764

http://pool.karmacoin.info = 369 blocks and 163830536.742 coins mined for an average block size of 443905

Total blocks mined during this 24 hour period by everyone (numbers from the blockchain site) = 1411

Total number of coins mined with these 1411 blocks = 1082426659

Remove the coins and block mined by these two pools and you have the following:

1411 - (230 + 369) = 812 blocks by others

1082426659 - (98155792 + 163830536) = 820440331 coins mined by others

So then 820440331 / 812 = 1010394.496305419 average coins per block.

Yes ladies and gentlemen that means that the exploiters are getting over twice the number of coins per block as the top two pools combined over the last 24 hours. HOW IS THIS POSSIBLE IN A FAIR COIN? The profitability calculators for this coin are way off and should be cut in half to get the correct numbers for us miners. The trade volume is dominated by the exploiters who artificially inflate the coin to make it look attractive. You my friends are the patsies in this scheme.

These numbers do not lie. There is no way this is pure luck. In fact they tell us a truth that someone has found a massive exploit of the code behind Karmacoin and is using it in our face without any fear of being caught. They do not care

Well if the devs do not do something immediately to remedy this I am going to post this everywhere and anywhere that people will listen. The best thing you can do right now is spread the word about this far and wide so that all miners know to steer clear of Karmacoin until this is fixed. As for what you decide to do with your own hashing power and hard earned cash I will leave up to you but I am not touching this coin with a ten foot pole. Good luck to you all.

Honestly, is there a conspiracy at work or are you just out gunned in the mining world now?  Try to stay positive, this is KarmaCoin after all!  :-)


Huh? You are not making sense. Are you not able to do basic math? My numbers don't lie. The system in place in far from level and if you want to go on mining the coin or perhaps you already have a large position that you are trying to protect then so be it. I will let everyone make their own decisions. You seem to want to take jibes at me personally while avoiding directly addressing the numbers which speaks volumes in and of itself. I am trying to save others from making a mistake in thinking this coin is actually more profitable then it really is.