Lowering total number of coins is much better
I agree, but we tried that already ..
When we reintroduced the KARM/BTC trading pair it
became apparent that we were going to get stuck in
the 2-3-4 satoshi range ( ie the minimum 'tick' in satoshi
represents a huge percentage return ) ..
Who wouldn't buy @ 2sat and offer @ 3sat to make 50% returns ??
Kosmost saw the problem right away and suggested we reverse split the
coin to accomplish two things .. lower the total number of KARM to a
more reasonable level and get away from single digit satoshi pricing ..
The community was polled and it was decided not to pursue that change ..
Triff ..
Maybe proof of burn would be accepted this time??
Should we look into it?
Well, if by 'proof of burn' you mean to use that as a way to reduce coin count ??
I think we have nearly 9 billion KARM in the LLC currently ..
It's the only 'funding' mechanism we have for the IPOCOs other
than kosmost spending his own money and KARM holder's periodic donations ..
@ 2-3 satoshi I grant that we don't have much of a development budget in $$$ terms ..
The thinking was that when the crypto community discovered KARM and the potential
value of the LLC that KARM would begin to rise in price to the point where the
'donated' shares would have sufficient 'value' to self-fund the IPOCOs ..
At least that's my interpretation of the KARM/Karmashares LLC game plan ..
Plans and reality have a tendency to diverge as we know ..
Triff ..
No no.. LLC coins are there to stay.
What if we offer two ways to invest now.
One : the regular way as it is now.
two : the proof of burn : where investors get x10 points or something when he invest by sending the coins to an address that is not accessible ??