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Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // Launched search engine @lill.com
........
We waste too much time on petty nonsense. First we obsessed about price for 20+ pages, now it's this..
Surely we can be more productive
We waste too much time on petty nonsense. First we obsessed about price for 20+ pages, now it's this..
Surely we can be more productive
Amen kosmost....the huge quote boxes that get bigger are a distraction and take up a huge amount of space.
Anyone here know's your contributions Ag, so relax. I understand your
wish to standup for yourself, just let it roll off.
Sometimes its a better response.
Cat, give it a rest and enjoy where the coin is going as we all are.
No need to take aim at me mate. A discussion has taken place about the handling of an event that occurred yesterday- that's all it is. I have said my final piece on the matter, I'm happy with the explanations given by Kosmost and Bitwho as I have already stated twice. I wont be replying to any more call outs or questioning on the matter as I agree it's gone further than it should have. As long as everyone else is happy to let sleeping dogs lie this discussion is finished.
Let's keep it all in perspective however - we are all supporting this coin. We may have a bit of a squabble every now again over this or that but at the end of the day we are all just saying and doing what we think is best for the community and the future of the coin. Sometimes things will be said or done that don't sit right with some us and we voice our concern in response, other times we will all get along like kindred spirits. It's just the nature of the game - lots of different people from all walks of life with different views.
Let's all just sit back and relax - Karm is looking in good stead!
Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // Launched search engine @lill.com
In the words of the great Encyclopedia Galactica: DON'T PANIC
Did the "possible 51% attack" originate form a regular mining pool? I somehow doubt that. Prematurely blaming regular pools is IMO a bad move and definitely not good Karma. Isn't it much more likely that the attack was coming from an external actor, rather than the existing Karma mining community? What if it is related to the 1.5+ GH/s Nethash that were unaccounted for last week? Was it even an attack on the regular network or rather aimed at Mintpal directly? I'd like to see some facts before we rush to conclusions and point fingers.
If it was indeed a 51% attack, it is pretty much the scenario I and others were warning about in April. Because of the new ASICs several GH/s of mining power are suddenly at the whim of a few select people. Moving our existing hashrate to P2Pools doesn't protect from that. P2Pool is a tiny piece in the puzzle of securing the network at best.
Another piece would be if the community and/or LLC joined the game and secured the network by aquiring additional mining power, either through renting rigs or purchasing ASICs. This was already suggested as an idea on the Karmashares forums IIRC.
In the interest of not getting this whole mining/algo/PoS discussion started again, I'll just shut up now. The team will work it out, I trust them to do whatever is best for Karma.
Did the "possible 51% attack" originate form a regular mining pool? I somehow doubt that. Prematurely blaming regular pools is IMO a bad move and definitely not good Karma. Isn't it much more likely that the attack was coming from an external actor, rather than the existing Karma mining community? What if it is related to the 1.5+ GH/s Nethash that were unaccounted for last week? Was it even an attack on the regular network or rather aimed at Mintpal directly? I'd like to see some facts before we rush to conclusions and point fingers.
If it was indeed a 51% attack, it is pretty much the scenario I and others were warning about in April. Because of the new ASICs several GH/s of mining power are suddenly at the whim of a few select people. Moving our existing hashrate to P2Pools doesn't protect from that. P2Pool is a tiny piece in the puzzle of securing the network at best.
Another piece would be if the community and/or LLC joined the game and secured the network by aquiring additional mining power, either through renting rigs or purchasing ASICs. This was already suggested as an idea on the Karmashares forums IIRC.
In the interest of not getting this whole mining/algo/PoS discussion started again, I'll just shut up now. The team will work it out, I trust them to do whatever is best for Karma.
This is me speaking for self.
No one is blaming anyone as we don't have proof on who did what. But there has been speculation among a few of us that there is the possibility of a shadow pool or pools who are modifying their front ends to show one thing yet combining hash power in the back or have a private pool made up of huge hash power rigs that is working hidden to the public. Again we don't have any tangible proof on who is or is not doing this, however I will challenge you to look up all the pools you can find and then add up their hashrate. You will find that their is currently close to 1.5-2gh of net hash that is unaccounted for. And i think you would be foolish to think there are that many people solo mining. While asking people to mine at a p2pool is not a fix all it does put us one step forward in an attempt to spread the hash rate instead of having it all focused in one place. Hell for all we know you could be unknowing hashing away at a pool that is feeding this type of attack without you even having a clue. In the end to each is their own, if you switch to a p2pool or not that is up to you. But at least it was put out there on what could be happening and its up to you if you wish to react or not. The health of Karma and its security is very important the Karma Team and rest assured they are looking into doing what they can to make sure Karma remains secure for years to come.
Nobody has named anyone, but as a regular here I couldn't help but notice some bad Karma in the air concerning certain pools lately. Then this rumored attack takes place and suddenly everyone writes and tweets "OMG switch to P2Pool now". Didn't really feel right to me. Disclaimer: I personally do not mine anymore . I've always liked P2Pools though, so I would switch if the high electricity cost and the sharp drop in profitability hadn't forced me to dismantle my rigs.
IMO it most likely is an unknown/hidden pool. Heard about the Synology NAS mining malware that mined the creator 500 Million Dogecoin? He/She/They set up a private pool for that purpose and went unnoticed for months. Not saying that's happening here. But if you were - uhm lets say an industrial scale miner and sat on a fat and juicy Scrypt-Farm with a few hundred MH/s or even GH/s - would you mine in a public pool and pay fees to some stranger, or would you just set up your own, non-public, pool?
In both their posts they have attempted to get people to switch to their pool with the enticement of rewards and zero fees. It matters not what their intentions are - they are holding themselves out as promoting a pool through the use of negative speculation and baseless accusations.
you can read my previous posts about pools. i have been a proponent of leaving multipool-eu on the list of pools and i have also requested people mine at ANY pool that had few miners. i am for full disclosure.
besides trying to thwart 51% on the karma blockchain for a while by adding a p2pool to the ecosystem i also stepped up and am running our blockexplorer when the prevoius one went down.
i also hosts a couple of wallets online so people can bootstrap onto the blockchain because the seed nodes have all been pulled be the previous devs.
i am not sure why you are attacking me. 51% attacks are very very serious, just look at all the cex fallout regarding bitcoin and their 12 hour streak.
i really really dislike your tone and insinuations.
i'll get back to you with the posts where i actively ask people to use any pool and the posts regarding questions about multipools motives but i have a life so not right now.
anyway... that is all for now, i'll get back to you with post links.
Firstly, I limit my criticism to those posts in question - whoever they were made by.
Secondly, The theoretical potential for an attack is not justification for posting that one may or may not have happened and enticing people to use a certain pool - as was the case yesterday.
If it can be shown that there was verifiable evidence to justify the posts made then that would be a start. However, as I said earlier, this thread is usually the first port of call for many people who just want to get an idea of what a coin stands for and its future as perceived by the community. Knowing this, it is simply a bad idea to make posts in the nature of those that were made yesterday.
Concerns that have the potential to cause panic among the unwary should be brought to the attention of the developer privately, where the dev team can discuss them and come up with a solution if one is so required. There are ways of dealing with concerns - and I stand by what I have said; the way in which the concerns were publicly aired yesterday was not appropriate.
Speculation and rumor become problematic when people are encouraged to act on it.
and if you don't because you can't because i never said this you are slanderous. do you know what false accusations and slander mean?
also your lack of backing up what you previously attacked me for like not answering any of my questions but just throwing more accusations around is really embarrasing not only to yourself but the everyone who has to read it, and certainly me who has to defend himself against your FUD.
Quote from: catwiki
Speculation and rumor become problematic when people are encouraged to act on it.
Coming from you that is comedy gold. You throw around accusations against me and when i try to talk about them you ignore it at move forward with new speculations. Just trolling at max speed.I am not going to get into a back and fourth with you. I have not accused you of anything, nor have I named you. I was unhappy with a couple of posts that were made yesterday (by members who shall not be named) that I found inflammatory and poorly thought out due to their lack of provision of verifiable evidence regarding alleged events those posts were referring to. I stated I did not think it was appropriate for those posts to be made in the manner they were made (I felt they were quite alarming and should not have included advertising for a certain p2pool by using this unsubstantiated 'attack' as an effective springboard to get people to sign up with this pool. The fact that rewards were mentioned along with no mining fee for those who switch to that pool was not appropriate under the circumstances in my opinion.
You have taken something as a personal attack when you were not named as the subject. If you felt your post met the criteria by which I described the posts I took issue with and then decided to turn what I have said into an attack on you personally then that is your choice.
In your absence Kosmost and another user gave further explanation of their actions and upon recieving information about what was happening behind the scenes at the time I have accepted that explanation as fair.
At that point there ceased to be a problem and we have now moved on.
Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // Launched search engine @lill.com
Where is the KARM / BTC market? http://karmashares.com/forums/index.php/topic,338.0.html
Excellent news. The beauty of it is that because we all want to see a BTC pairing again all of us will be prepared to front up the litecoin to keep it above 150 - should it even be necessary. I personally have around 4 BTC in my 'reserve wallet' that I have not converted to Litecoin (for obvious reasons) that I would be prepared to use to keep the price above 150 Litoshi for the required time - not that that will even be necessary. I know there are some big boys out there who are loaded with Bitcoin and invested in this coin quite heavily who would also keep things stable.
Great work!
Under 33 Hours until the block halving will occur. Get in now and mine as many as can before this occurs because when it does the price will rise to compensate which will in turn increase the number of miners.
Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // Launched search engine @lill.com
In the words of the great Encyclopedia Galactica: DON'T PANIC
Did the "possible 51% attack" originate form a regular mining pool? I somehow doubt that. Prematurely blaming regular pools is IMO a bad move and definitely not good Karma. Isn't it much more likely that the attack was coming from an external actor, rather than the existing Karma mining community? What if it is related to the 1.5+ GH/s Nethash that were unaccounted for last week? Was it even an attack on the regular network or rather aimed at Mintpal directly? I'd like to see some facts before we rush to conclusions and point fingers.
If it was indeed a 51% attack, it is pretty much the scenario I and others were warning about in April. Because of the new ASICs several GH/s of mining power are suddenly at the whim of a few select people. Moving our existing hashrate to P2Pools doesn't protect from that. P2Pool is a tiny piece in the puzzle of securing the network at best.
Another piece would be if the community and/or LLC joined the game and secured the network by aquiring additional mining power, either through renting rigs or purchasing ASICs. This was already suggested as an idea on the Karmashares forums IIRC.
In the interest of not getting this whole mining/algo/PoS discussion started again, I'll just shut up now. The team will work it out, I trust them to do whatever is best for Karma.
Did the "possible 51% attack" originate form a regular mining pool? I somehow doubt that. Prematurely blaming regular pools is IMO a bad move and definitely not good Karma. Isn't it much more likely that the attack was coming from an external actor, rather than the existing Karma mining community? What if it is related to the 1.5+ GH/s Nethash that were unaccounted for last week? Was it even an attack on the regular network or rather aimed at Mintpal directly? I'd like to see some facts before we rush to conclusions and point fingers.
If it was indeed a 51% attack, it is pretty much the scenario I and others were warning about in April. Because of the new ASICs several GH/s of mining power are suddenly at the whim of a few select people. Moving our existing hashrate to P2Pools doesn't protect from that. P2Pool is a tiny piece in the puzzle of securing the network at best.
Another piece would be if the community and/or LLC joined the game and secured the network by aquiring additional mining power, either through renting rigs or purchasing ASICs. This was already suggested as an idea on the Karmashares forums IIRC.
In the interest of not getting this whole mining/algo/PoS discussion started again, I'll just shut up now. The team will work it out, I trust them to do whatever is best for Karma.
This is me speaking for self.
No one is blaming anyone as we don't have proof on who did what. But there has been speculation among a few of us that there is the possibility of a shadow pool or pools who are modifying their front ends to show one thing yet combining hash power in the back or have a private pool made up of huge hash power rigs that is working hidden to the public. Again we don't have any tangible proof on who is or is not doing this, however I will challenge you to look up all the pools you can find and then add up their hashrate. You will find that their is currently close to 1.5-2gh of net hash that is unaccounted for. And i think you would be foolish to think there are that many people solo mining. While asking people to mine at a p2pool is not a fix all it does put us one step forward in an attempt to spread the hash rate instead of having it all focused in one place. Hell for all we know you could be unknowing hashing away at a pool that is feeding this type of attack without you even having a clue. In the end to each is their own, if you switch to a p2pool or not that is up to you. But at least it was put out there on what could be happening and its up to you if you wish to react or not. The health of Karma and its security is very important the Karma Team and rest assured they are looking into doing what they can to make sure Karma remains secure for years to come.
Nobody has named anyone, but as a regular here I couldn't help but notice some bad Karma in the air concerning certain pools lately. Then this rumored attack takes place and suddenly everyone writes and tweets "OMG switch to P2Pool now". Didn't really feel right to me. Disclaimer: I personally do not mine anymore . I've always liked P2Pools though, so I would switch if the high electricity cost and the sharp drop in profitability hadn't forced me to dismantle my rigs.
IMO it most likely is an unknown/hidden pool. Heard about the Synology NAS mining malware that mined the creator 500 Million Dogecoin? He/She/They set up a private pool for that purpose and went unnoticed for months. Not saying that's happening here. But if you were - uhm lets say an industrial scale miner and sat on a fat and juicy Scrypt-Farm with a few hundred MH/s or even GH/s - would you mine in a public pool and pay fees to some stranger, or would you just set up your own, non-public, pool?
In both their posts they have attempted to get people to switch to their pool with the enticement of rewards and zero fees. It matters not what their intentions are - they are holding themselves out as promoting a pool through the use of negative speculation and baseless accusations.
you can read my previous posts about pools. i have been a proponent of leaving multipool-eu on the list of pools and i have also requested people mine at ANY pool that had few miners. i am for full disclosure.
besides trying to thwart 51% on the karma blockchain for a while by adding a p2pool to the ecosystem i also stepped up and am running our blockexplorer when the prevoius one went down.
i also hosts a couple of wallets online so people can bootstrap onto the blockchain because the seed nodes have all been pulled be the previous devs.
i am not sure why you are attacking me. 51% attacks are very very serious, just look at all the cex fallout regarding bitcoin and their 12 hour streak.
i really really dislike your tone and insinuations.
i'll get back to you with the posts where i actively ask people to use any pool and the posts regarding questions about multipools motives but i have a life so not right now.
anyway... that is all for now, i'll get back to you with post links.
Firstly, I limit my criticism to those posts in question - whoever they were made by.
Secondly, The theoretical potential for an attack is not justification for posting that one may or may not have happened and enticing people to use a certain pool - as was the case yesterday.
If it can be shown that there was verifiable evidence to justify the posts made then that would be a start. However, as I said earlier, this thread is usually the first port of call for many people who just want to get an idea of what a coin stands for and its future as perceived by the community. Knowing this, it is simply a bad idea to make posts in the nature of those that were made yesterday.
Concerns that have the potential to cause panic among the unwary should be brought to the attention of the developer privately, where the dev team can discuss them and come up with a solution if one is so required. There are ways of dealing with concerns - and I stand by what I have said; the way in which the concerns were publicly aired yesterday was not appropriate.
Speculation and rumor become problematic when people are encouraged to act on it.
Ok I am not going to explain everything that happened in detail, but I will point out a few key points in order to help you not continue to sound foolish.
First we were contacted by MintPal that an attack happened (for me when a major exchange contacts you direct that pretty much is all the proof I need that something might have happened). Second this happened at midnight USA Central time so there were but a few team members on that could discuss what course of action was needed to be taken (yes Kosmost was one of them). While it would have been easy to sweep this attack under the rug as some might have in order to not possibly affect their coin price, we decided to put our community first and our coin price second. We are running a coin with honor and integrity so we decided to let the public know as soon as possible just in case they wanted to move their coins out of exchanges until the smoke cleared. While we were fortunate that this was but a minor attack we did not know that at the time and had to work with the info we had which was minimal. The last thing we wanted is to hold on to time sensitive information and then have our community pay the price by not having early warning. So after some discussion we decided on what we thought was the best course of action and as a result Kosmost asked me to post the warning. As for asking people to switch to p2pools, well I already addressed why in earlier posts so I am not going to repeat myself. And no it was not to get people to join any one pool. If your read my post correctly I asked miners to switch to a p2pool of their choice. In time of crisis leaders have to make split second decisions on immediate courses of action in order to minimize damage not just to their coin but to the people that support their coin and make it what it is. The KarmaTeam is made up of honorable hard working individuals that bust their butts on a daily bases to get us one step closer to achieving our vision for Karma and the Karmashares LLC. If you can't handle investing in a coin that is driven by a team with honor and integrity and that puts its community before their bottom line then maybe you would feel more comfortable investing in redcoin, mooncoin or pandacoin instead.
That's a fair explanation of the action you have taken - it is just a pitty it was not included in the original post.
What is your official role in the Karmateam?
Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // Launched search engine @lill.com
hah. alright everyone chill out.
there was no FUD. Mintpal was under double spend attack. if anything them raising the confirmation to 200 should be enough to see this was no FUD. What is not known yet is whether this was an organized attack or a non human error attack.
As we can see. our dedicated overall pools have about 600 mh/s between them all and our total network is at 2700-3100 Mh/s . This tells us that there are tons more hash pointed at our coin. we do not know whether they are coming from individual solo mining, one multi pool. couple multipools or any other combination. What we do now know is that at least one of them for a few minutes had more then enough to cause a fork of its own.
this is what Agcrypto stated in his message. He had okay from all of us. Yup, we assigned him to deliver this news once we had enough to share with you. We agreed that even though this attack looked to be an accidental it was still an attack that did occur and we thought the community should know about it right away. not sure why you think otherwise but our trading volumes have been healthy all day today. this news did not couase any panic. only drama in this forum.
As we have stated many times we are not trying to be overloads and hide stuff to minimize and control the truth. The attacked happened and we had no choice but to immediately let everyone know. It had nothing to do with personal point of views.
@CatKiwi :
AGcrypto , me and altcoingood are part of the karma team. You can look up our history and see that everything we do, say or think its for the best of the coin.
So lets talk about the p2p pool that you are accusing me and altcoingood pushing for it. Your making us come as villains. taking advantage of a FUD to what... build a pool monopoly? out of what?? pool mining fees?
We should be thankful to any pool that is running a pool for us. Let's do some math to satisfy your accusation towards our agenda to own the network with our supreme pool!
if by a miracle the p2p mines all the block for a whole day this would gain the p2p pool a whopping 792,000 karma coins a day! again out of 1440 block x 110,000 coins and then a 0.005 pool fee = 792,000 kama.
Wow. good thing you caught us there mang. you really saved all the miners who would mine 158 mill coin that day 792,000 less!
Hope this give you an idea how much pools make a day in fees. and this is an example if the p2p pool mines all the coin. which will never be realistic. So once we are done pushing this much the p2p pool would have to make 1/3 of that. thats 264000 karma a day! and this is not even taking into account the huge block reward halving in few days
I personally am not involved with altcoingood pool. i never received any payments from him as a reward for helping him.
Why i am helping promoting his pool is because he is 24/7 active with out coin. He has done most then all of us in helping sustain many critical obstacles we have had with karma. He has set up for us our first reddit tipbot. he has set up our block explorer. he has set up two static nodes that even at this day are crucial to help new people link up to our network. he had set up p2p pool months back when we realized that karma.multi-pool.eu has more then %80 of our mining hash. He has set up MPOS pool as well.
Not only has he done all this. but he has kept them up and running all this time. We have never rewarded him with our coins. everything he has done has been genuine. And he has paid it out of his own pocket. Because he is a code geek and he has a good hart. He sees we need his services.
Why do i mention all this? because i would like all of you , who come and go in our coin community , to be up to date and realized why i am rooting for his p2p pool
An other very important topic is that if we would need altcoingood to boot off miners from his pool he would do it and not cry foul as we have seen from our top pool.
dear Catwiki hope this was enough info to clear some confusion. we are creating an necessary dramas with our post. Msg me and we can take this private. or come to #karmacoin and let us assure you there is no hiden agenda. I want karma to go fully P2p Pool so in future we do not have any other attacks!
Ps : its good to have you back. if i recall form last time , you mention you sold your coins to 70 litoshi because you thought our coin was not worth it and it should come back down to 40s. after you saw that our coin was not coming back to even 100s litoshis you realized your not getting the coins back. then you dissapeared for a while. didn hear from you in this chat. not interested in us once you sold your coin huh? then you bought back at 120 litoshi and again started to get active when you saw our coin reach 250.
there was no FUD. Mintpal was under double spend attack. if anything them raising the confirmation to 200 should be enough to see this was no FUD. What is not known yet is whether this was an organized attack or a non human error attack.
As we can see. our dedicated overall pools have about 600 mh/s between them all and our total network is at 2700-3100 Mh/s . This tells us that there are tons more hash pointed at our coin. we do not know whether they are coming from individual solo mining, one multi pool. couple multipools or any other combination. What we do now know is that at least one of them for a few minutes had more then enough to cause a fork of its own.
this is what Agcrypto stated in his message. He had okay from all of us. Yup, we assigned him to deliver this news once we had enough to share with you. We agreed that even though this attack looked to be an accidental it was still an attack that did occur and we thought the community should know about it right away. not sure why you think otherwise but our trading volumes have been healthy all day today. this news did not couase any panic. only drama in this forum.
As we have stated many times we are not trying to be overloads and hide stuff to minimize and control the truth. The attacked happened and we had no choice but to immediately let everyone know. It had nothing to do with personal point of views.
@CatKiwi :
AGcrypto , me and altcoingood are part of the karma team. You can look up our history and see that everything we do, say or think its for the best of the coin.
So lets talk about the p2p pool that you are accusing me and altcoingood pushing for it. Your making us come as villains. taking advantage of a FUD to what... build a pool monopoly? out of what?? pool mining fees?
We should be thankful to any pool that is running a pool for us. Let's do some math to satisfy your accusation towards our agenda to own the network with our supreme pool!
if by a miracle the p2p mines all the block for a whole day this would gain the p2p pool a whopping 792,000 karma coins a day! again out of 1440 block x 110,000 coins and then a 0.005 pool fee = 792,000 kama.
Wow. good thing you caught us there mang. you really saved all the miners who would mine 158 mill coin that day 792,000 less!
Hope this give you an idea how much pools make a day in fees. and this is an example if the p2p pool mines all the coin. which will never be realistic. So once we are done pushing this much the p2p pool would have to make 1/3 of that. thats 264000 karma a day! and this is not even taking into account the huge block reward halving in few days
I personally am not involved with altcoingood pool. i never received any payments from him as a reward for helping him.
Why i am helping promoting his pool is because he is 24/7 active with out coin. He has done most then all of us in helping sustain many critical obstacles we have had with karma. He has set up for us our first reddit tipbot. he has set up our block explorer. he has set up two static nodes that even at this day are crucial to help new people link up to our network. he had set up p2p pool months back when we realized that karma.multi-pool.eu has more then %80 of our mining hash. He has set up MPOS pool as well.
Not only has he done all this. but he has kept them up and running all this time. We have never rewarded him with our coins. everything he has done has been genuine. And he has paid it out of his own pocket. Because he is a code geek and he has a good hart. He sees we need his services.
Why do i mention all this? because i would like all of you , who come and go in our coin community , to be up to date and realized why i am rooting for his p2p pool
An other very important topic is that if we would need altcoingood to boot off miners from his pool he would do it and not cry foul as we have seen from our top pool.
dear Catwiki hope this was enough info to clear some confusion. we are creating an necessary dramas with our post. Msg me and we can take this private. or come to #karmacoin and let us assure you there is no hiden agenda. I want karma to go fully P2p Pool so in future we do not have any other attacks!
Ps : its good to have you back. if i recall form last time , you mention you sold your coins to 70 litoshi because you thought our coin was not worth it and it should come back down to 40s. after you saw that our coin was not coming back to even 100s litoshis you realized your not getting the coins back. then you dissapeared for a while. didn hear from you in this chat. not interested in us once you sold your coin huh? then you bought back at 120 litoshi and again started to get active when you saw our coin reach 250.
It is clear that we are not going to get anywhere arguing about this and we all have better things to do I'm sure. What is done is done.
In response to your post script: For the sake of full disclosure so people that read this know where I stand on Karma - I had around 188 Million coins - sold a few million here and there until the final 174 Million were snapped up one night when the coin had its second spike from 30 something Litoshi to 80 something. Placed staggered sell orders hoping some rogue buy orders would come and snap and few million up (at that time the coin tended to have large 50+ litecoin buys come in every few days before volume died away again). Unfortunately the price rose more than I expected (it was on a steady decline day on day for over 3 weeks at this point) and someone bought them all. Hey, shit happens, ultimately its no big deal. I then went and invested and traded heavily in DRK, XC and VRC. Made some and lost some as is the way. When I lost faith in VRC I came and reinvested in Karma. I could see it was about 50/50 at that point in time that it would get a BTC pairing within the following 24 hours - I know that such an event tends to cause a coin to skyrocket - bought back in, a smaller amount than I originally had ofcourse but such is the way of things.
I like the coin, its got some nice little projects going on and plenty of action in the community. I did make the mistake of thinking that it was not going to go up as substantially as it did but you win some and you lose some. Most of us made the same mistake with CRY - that thing went up over 1000% in a few days - sometimes we just miss a beat.
I will be active here for as long as I hold an interest in Karma.
Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // Launched search engine @lill.com
In the words of the great Encyclopedia Galactica: DON'T PANIC
Did the "possible 51% attack" originate form a regular mining pool? I somehow doubt that. Prematurely blaming regular pools is IMO a bad move and definitely not good Karma. Isn't it much more likely that the attack was coming from an external actor, rather than the existing Karma mining community? What if it is related to the 1.5+ GH/s Nethash that were unaccounted for last week? Was it even an attack on the regular network or rather aimed at Mintpal directly? I'd like to see some facts before we rush to conclusions and point fingers.
If it was indeed a 51% attack, it is pretty much the scenario I and others were warning about in April. Because of the new ASICs several GH/s of mining power are suddenly at the whim of a few select people. Moving our existing hashrate to P2Pools doesn't protect from that. P2Pool is a tiny piece in the puzzle of securing the network at best.
Another piece would be if the community and/or LLC joined the game and secured the network by aquiring additional mining power, either through renting rigs or purchasing ASICs. This was already suggested as an idea on the Karmashares forums IIRC.
In the interest of not getting this whole mining/algo/PoS discussion started again, I'll just shut up now. The team will work it out, I trust them to do whatever is best for Karma.
Did the "possible 51% attack" originate form a regular mining pool? I somehow doubt that. Prematurely blaming regular pools is IMO a bad move and definitely not good Karma. Isn't it much more likely that the attack was coming from an external actor, rather than the existing Karma mining community? What if it is related to the 1.5+ GH/s Nethash that were unaccounted for last week? Was it even an attack on the regular network or rather aimed at Mintpal directly? I'd like to see some facts before we rush to conclusions and point fingers.
If it was indeed a 51% attack, it is pretty much the scenario I and others were warning about in April. Because of the new ASICs several GH/s of mining power are suddenly at the whim of a few select people. Moving our existing hashrate to P2Pools doesn't protect from that. P2Pool is a tiny piece in the puzzle of securing the network at best.
Another piece would be if the community and/or LLC joined the game and secured the network by aquiring additional mining power, either through renting rigs or purchasing ASICs. This was already suggested as an idea on the Karmashares forums IIRC.
In the interest of not getting this whole mining/algo/PoS discussion started again, I'll just shut up now. The team will work it out, I trust them to do whatever is best for Karma.
This is me speaking for self.
No one is blaming anyone as we don't have proof on who did what. But there has been speculation among a few of us that there is the possibility of a shadow pool or pools who are modifying their front ends to show one thing yet combining hash power in the back or have a private pool made up of huge hash power rigs that is working hidden to the public. Again we don't have any tangible proof on who is or is not doing this, however I will challenge you to look up all the pools you can find and then add up their hashrate. You will find that their is currently close to 1.5-2gh of net hash that is unaccounted for. And i think you would be foolish to think there are that many people solo mining. While asking people to mine at a p2pool is not a fix all it does put us one step forward in an attempt to spread the hash rate instead of having it all focused in one place. Hell for all we know you could be unknowing hashing away at a pool that is feeding this type of attack without you even having a clue. In the end to each is their own, if you switch to a p2pool or not that is up to you. But at least it was put out there on what could be happening and its up to you if you wish to react or not. The health of Karma and its security is very important the Karma Team and rest assured they are looking into doing what they can to make sure Karma remains secure for years to come.
Nobody has named anyone, but as a regular here I couldn't help but notice some bad Karma in the air concerning certain pools lately. Then this rumored attack takes place and suddenly everyone writes and tweets "OMG switch to P2Pool now". Didn't really feel right to me. Disclaimer: I personally do not mine anymore . I've always liked P2Pools though, so I would switch if the high electricity cost and the sharp drop in profitability hadn't forced me to dismantle my rigs.
IMO it most likely is an unknown/hidden pool. Heard about the Synology NAS mining malware that mined the creator 500 Million Dogecoin? He/She/They set up a private pool for that purpose and went unnoticed for months. Not saying that's happening here. But if you were - uhm lets say an industrial scale miner and sat on a fat and juicy Scrypt-Farm with a few hundred MH/s or even GH/s - would you mine in a public pool and pay fees to some stranger, or would you just set up your own, non-public, pool?
In both their posts they have attempted to get people to switch to their pool with the enticement of rewards and zero fees. It matters not what their intentions are - they are holding themselves out as promoting a pool through the use of negative speculation and baseless accusations.
you can read my previous posts about pools. i have been a proponent of leaving multipool-eu on the list of pools and i have also requested people mine at ANY pool that had few miners. i am for full disclosure.
besides trying to thwart 51% on the karma blockchain for a while by adding a p2pool to the ecosystem i also stepped up and am running our blockexplorer when the prevoius one went down.
i also hosts a couple of wallets online so people can bootstrap onto the blockchain because the seed nodes have all been pulled be the previous devs.
i am not sure why you are attacking me. 51% attacks are very very serious, just look at all the cex fallout regarding bitcoin and their 12 hour streak.
i really really dislike your tone and insinuations.
i'll get back to you with the posts where i actively ask people to use any pool and the posts regarding questions about multipools motives but i have a life so not right now.
anyway... that is all for now, i'll get back to you with post links.
Firstly, I limit my criticism to those posts in question - whoever they were made by.
Secondly, The theoretical potential for an attack is not justification for posting that one may or may not have happened and enticing people to use a certain pool - as was the case yesterday.
If it can be shown that there was verifiable evidence to justify the posts made then that would be a start. However, as I said earlier, this thread is usually the first port of call for many people who just want to get an idea of what a coin stands for and its future as perceived by the community. Knowing this, it is simply a bad idea to make posts in the nature of those that were made yesterday.
Concerns that have the potential to cause panic among the unwary should be brought to the attention of the developer privately, where the dev team can discuss them and come up with a solution if one is so required. There are ways of dealing with concerns - and I stand by what I have said; the way in which the concerns were publicly aired yesterday was not appropriate.
Speculation and rumor become problematic when people are encouraged to act on it.
Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // Launched search engine @lill.com
In the words of the great Encyclopedia Galactica: DON'T PANIC
Did the "possible 51% attack" originate form a regular mining pool? I somehow doubt that. Prematurely blaming regular pools is IMO a bad move and definitely not good Karma. Isn't it much more likely that the attack was coming from an external actor, rather than the existing Karma mining community? What if it is related to the 1.5+ GH/s Nethash that were unaccounted for last week? Was it even an attack on the regular network or rather aimed at Mintpal directly? I'd like to see some facts before we rush to conclusions and point fingers.
If it was indeed a 51% attack, it is pretty much the scenario I and others were warning about in April. Because of the new ASICs several GH/s of mining power are suddenly at the whim of a few select people. Moving our existing hashrate to P2Pools doesn't protect from that. P2Pool is a tiny piece in the puzzle of securing the network at best.
Another piece would be if the community and/or LLC joined the game and secured the network by aquiring additional mining power, either through renting rigs or purchasing ASICs. This was already suggested as an idea on the Karmashares forums IIRC.
In the interest of not getting this whole mining/algo/PoS discussion started again, I'll just shut up now. The team will work it out, I trust them to do whatever is best for Karma.
Did the "possible 51% attack" originate form a regular mining pool? I somehow doubt that. Prematurely blaming regular pools is IMO a bad move and definitely not good Karma. Isn't it much more likely that the attack was coming from an external actor, rather than the existing Karma mining community? What if it is related to the 1.5+ GH/s Nethash that were unaccounted for last week? Was it even an attack on the regular network or rather aimed at Mintpal directly? I'd like to see some facts before we rush to conclusions and point fingers.
If it was indeed a 51% attack, it is pretty much the scenario I and others were warning about in April. Because of the new ASICs several GH/s of mining power are suddenly at the whim of a few select people. Moving our existing hashrate to P2Pools doesn't protect from that. P2Pool is a tiny piece in the puzzle of securing the network at best.
Another piece would be if the community and/or LLC joined the game and secured the network by aquiring additional mining power, either through renting rigs or purchasing ASICs. This was already suggested as an idea on the Karmashares forums IIRC.
In the interest of not getting this whole mining/algo/PoS discussion started again, I'll just shut up now. The team will work it out, I trust them to do whatever is best for Karma.
This is me speaking for self.
No one is blaming anyone as we don't have proof on who did what. But there has been speculation among a few of us that there is the possibility of a shadow pool or pools who are modifying their front ends to show one thing yet combining hash power in the back or have a private pool made up of huge hash power rigs that is working hidden to the public. Again we don't have any tangible proof on who is or is not doing this, however I will challenge you to look up all the pools you can find and then add up their hashrate. You will find that their is currently close to 1.5-2gh of net hash that is unaccounted for. And i think you would be foolish to think there are that many people solo mining. While asking people to mine at a p2pool is not a fix all it does put us one step forward in an attempt to spread the hash rate instead of having it all focused in one place. Hell for all we know you could be unknowing hashing away at a pool that is feeding this type of attack without you even having a clue. In the end to each is their own, if you switch to a p2pool or not that is up to you. But at least it was put out there on what could be happening and its up to you if you wish to react or not. The health of Karma and its security is very important the Karma Team and rest assured they are looking into doing what they can to make sure Karma remains secure for years to come.
Nobody has named anyone, but as a regular here I couldn't help but notice some bad Karma in the air concerning certain pools lately. Then this rumored attack takes place and suddenly everyone writes and tweets "OMG switch to P2Pool now". Didn't really feel right to me. Disclaimer: I personally do not mine anymore . I've always liked P2Pools though, so I would switch if the high electricity cost and the sharp drop in profitability hadn't forced me to dismantle my rigs.
IMO it most likely is an unknown/hidden pool. Heard about the Synology NAS mining malware that mined the creator 500 Million Dogecoin? He/She/They set up a private pool for that purpose and went unnoticed for months. Not saying that's happening here. But if you were - uhm lets say an industrial scale miner and sat on a fat and juicy Scrypt-Farm with a few hundred MH/s or even GH/s - would you mine in a public pool and pay fees to some stranger, or would you just set up your own, non-public, pool?
The best way to decipher negative posts or 'FUD' from members is to ask "Ok, who is set up to benefit from all of this?" - In every negative upchuck, every FUD, there is a subtle (or not so subtle) attempt to push someone is one direction or another that will ultimately benefit the person posting in ways seen and unseen. In this situation, the party who benefits from all this nonsense is P2pools - in particular, a certain pool certain members have been promoting and admitted to being in discussion with.
In both their posts they have attempted to get people to switch to their pool with the enticement of rewards and zero fees. It matters not what their intentions are - they are holding themselves out as promoting a pool through the use of negative speculation and baseless accusations.
They should never have mentioned their connection with this certain p2pool - you cannot give free and frank advice to a community when you are set to benefit from that advice should people decide to follow it.
Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // Launched search engine @lill.com
In the words of the great Encyclopedia Galactica: DON'T PANIC
Did the "possible 51% attack" originate form a regular mining pool? I somehow doubt that. Prematurely blaming regular pools is IMO a bad move and definitely not good Karma. Isn't it much more likely that the attack was coming from an external actor, rather than the existing Karma mining community? What if it is related to the 1.5+ GH/s Nethash that were unaccounted for last week? Was it even an attack on the regular network or rather aimed at Mintpal directly? I'd like to see some facts before we rush to conclusions and point fingers.
If it was indeed a 51% attack, it is pretty much the scenario I and others were warning about in April. Because of the new ASICs several GH/s of mining power are suddenly at the whim of a few select people. Moving our existing hashrate to P2Pools doesn't protect from that. P2Pool is a tiny piece in the puzzle of securing the network at best.
Another piece would be if the community and/or LLC joined the game and secured the network by aquiring additional mining power, either through renting rigs or purchasing ASICs. This was already suggested as an idea on the Karmashares forums IIRC.
In the interest of not getting this whole mining/algo/PoS discussion started again, I'll just shut up now. The team will work it out, I trust them to do whatever is best for Karma.
Did the "possible 51% attack" originate form a regular mining pool? I somehow doubt that. Prematurely blaming regular pools is IMO a bad move and definitely not good Karma. Isn't it much more likely that the attack was coming from an external actor, rather than the existing Karma mining community? What if it is related to the 1.5+ GH/s Nethash that were unaccounted for last week? Was it even an attack on the regular network or rather aimed at Mintpal directly? I'd like to see some facts before we rush to conclusions and point fingers.
If it was indeed a 51% attack, it is pretty much the scenario I and others were warning about in April. Because of the new ASICs several GH/s of mining power are suddenly at the whim of a few select people. Moving our existing hashrate to P2Pools doesn't protect from that. P2Pool is a tiny piece in the puzzle of securing the network at best.
Another piece would be if the community and/or LLC joined the game and secured the network by aquiring additional mining power, either through renting rigs or purchasing ASICs. This was already suggested as an idea on the Karmashares forums IIRC.
In the interest of not getting this whole mining/algo/PoS discussion started again, I'll just shut up now. The team will work it out, I trust them to do whatever is best for Karma.
This is me speaking for self.
No one is blaming anyone as we don't have proof on who did what. But there has been speculation among a few of us that there is the possibility of a shadow pool or pools who are modifying their front ends to show one thing yet combining hash power in the back or have a private pool made up of huge hash power rigs that is working hidden to the public. Again we don't have any tangible proof on who is or is not doing this, however I will challenge you to look up all the pools you can find and then add up their hashrate. You will find that their is currently close to 1.5-2gh of net hash that is unaccounted for. And i think you would be foolish to think there are that many people solo mining. While asking people to mine at a p2pool is not a fix all it does put us one step forward in an attempt to spread the hash rate instead of having it all focused in one place. Hell for all we know you could be unknowing hashing away at a pool that is feeding this type of attack without you even having a clue. In the end to each is their own, if you switch to a p2pool or not that is up to you. But at least it was put out there on what could be happening and its up to you if you wish to react or not. The health of Karma and its security is very important the Karma Team and rest assured they are looking into doing what they can to make sure Karma remains secure for years to come.
Please explain why you, a member of the community, are publicly posting all manner of speculation and conspiracy theory on this thread - the first port of call for people who want to see what Karma is about - when you have stated you have no proof whatsoever that what you are saying is true?
Would it be to much to ask that you substantiate your rumors and speculation with verifiable evidence?
You also speak of 'we' - other than yourself, who else are you referring to?
Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // Launched search engine @lill.com
I would like to hear what Kosmost and Shaun have to say on the matter. So far there has been no official word from either of them about this here.
The announcement of this 'maybe/may not be' attack caused a significant dumping of coins while it was trending up again. That is not acceptable. The threat should have been proven beyond reasonable doubt before making a public announcement (on both here and reddit I see) and it should have been accompanied by proof for all to verify.
By all accounts it would appear that the threat had already abated before the members posted their announcement - all the more reason to privately inform Kosmost of the concern and let him handle it.
There are ways of dealing with things like this professionally, and although I'm sure the members who posted had no ill intention - it was not professional.
The announcement of this 'maybe/may not be' attack caused a significant dumping of coins while it was trending up again. That is not acceptable. The threat should have been proven beyond reasonable doubt before making a public announcement (on both here and reddit I see) and it should have been accompanied by proof for all to verify.
By all accounts it would appear that the threat had already abated before the members posted their announcement - all the more reason to privately inform Kosmost of the concern and let him handle it.
There are ways of dealing with things like this professionally, and although I'm sure the members who posted had no ill intention - it was not professional.
Dear FAILers,
FAIL has found its developers!!! Hard fork will be made and changes are coming! We needed about 3 days to arrange everything with coin developing, features, marketing etc.., so to be sure that ALL WILL be made and we are not going to be FAILed again! Take your seats and enjoy our ride to brighter FAIL future!
FAIL has found its developers!!! Hard fork will be made and changes are coming! We needed about 3 days to arrange everything with coin developing, features, marketing etc.., so to be sure that ALL WILL be made and we are not going to be FAILed again! Take your seats and enjoy our ride to brighter FAIL future!
EPIC FAILURE!!!
All our coins will be safe though right?
Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // Launched search engine @lill.com
Attention all miners!!!! We have been made aware of a possible attempted 51% attack which possibly affected Mintpal earlier today. Countermeasures have been put in place by Mintpal to reduce the chances of any further attacks but we as a community need to come together to make sure these types of attacks can not continue to happen. The Karma Team is asking that all miners please switch to a p2pool of your choice to help spread the hash power of all our rigs making it more difficult for any one pool to perform any further attacks. Again we are not 100% sure a attack did happen, but something had to have been attempted to caused mintpal to take anti 51% attack measures. We would like to ask our community to take immediate action to help us better secure our net hash rate allowing us time to investigate exactly what did or did not happen and to take further measures to ensure nothing like this can happen in the future.
proof?
Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // Launched search engine @lill.com
I see the pump n dumpers are playing with Crypt now. Damn shameful to see people selling decent coins and buying Crypt at these prices. These are the people that end up going to bed and waking up to find their investment has done a CAT, or a DRK, or a VRC, or pretty much any coin that has ever gone up this much in such a short time. That they would rather invest in Crypt pumped 1000% above what it was going for last week than KARM is a true testament to the sheer stupidity of the average trader we are dealing with. A fool and his money....
Any update on actual features being worked on? All i see is talk about being listed to exchanges. That's great but can we please get some idea of what is being worked on with this coin? i.e. why should people buy it?
We were FAILed by some people which didn't kept their promises, but of course we are working on actual features. Imho, updates will be provided by the end of the month at most. Of course any help from honest people is well welcomed.
P.S. Keep in mind that MANY people contacted us asking for BTC, but FAIL will not work in that way. Nevertheless FAIL achieved more than many coins for just over a month.
Stay FAILed!
That's cool - just wanted to make sure the coin is still moving forward
Coins future depends by its community, not by their features. Yeah, they are important, but they are not vital. Many coins have a lot of good features, but are dying anyway.
True - but in order to gain a community outside of the few of us who mine this thing currently you have to have something to offer. Otherwise all you get is people who will come along, mine a few hundred million coins, dump em then walk away. In order to get people to stay and support a coin the coin needs to have some sort of plan for the future.
OK....
First, we are honest.
Second, we gave out more than 2B coins to MANY people.
Third, check the hashrate atm.. Currently FAIL is supported by about 1/4 of our community hashrate which is about 180MH.
Fourth, we are planning to sell only small chunks of our coins just to cover some expenses.
Fifth, millions of DOGE and tens of LTC are already prepared to back up FAIL, when we need it.
Why are we doing that? Its simple. We want to make FAIL price STABLE, because we are not another pump and dump group and we know how to make business!
Now.. you are asking for answers. Can you please answer me to one question: How many coins does that?
Honesty is not being called into question here, not sure why you feel the need to state this.
Again, not sure why you have stated that you have given away 2 Billion coins - what has that to do with the future development?
Glad you brought up the hashrate. I have been mining this thing for around 3 weeks now - watching the hashrate throughout the day. The reality is that for perhaps 90% of the time the hashrate hovers between 10 MH/s and 40 MH/s - then out of nowhere a user or users with over 350 MH/s of ASIC power come along and mine several hundred million coins before disappearing again. You can see it for yourself if you watch the blockfinder stats on the two main pools and watch the nethashrate spike from the regular 10-40MH/s to 350 MH/s and more.
Representing that figure as a measure of support or strength of the community is just not accurate I'm afraid. When the ASIC miner/s disappears the hashrate is back down to 10-40MH/s until they next choose to hit the coin.
What do you mean by "millions of DOGE and tens of LTC are prepared to back up FAIL, WHEN we need it"? - are you suggesting a pump is on the cards?
On your last question - Quite frankly nothing you have done so far is in any way different from what other coins do. Nearly all coins have giveaways. Good on you for doing so - but that is not a point of difference with this coin and any other.
I really can't understand what you seek in coins.
1. 2B coins are about 4% of all mined coins atm.. For example I have send 20M coins to a person who just said he likes FAIL. My statement is that we are generous and we are not greedy.
2. The hashrate is not a big problem. Less miners sometimes means less dumpers, because the real traders (and community of course) are giving value of whatevercoin.
3. I said STABLE price, not pump. We are not going to pump anything.
4. All coins have giveaways or most of them only make promises and dump their wallets to exchanges when they have the chance?
FAIL is and will be different.
Clearly we are at a difference of opinion then. If the coin ever makes it past those immense sell walls put up on the Swisscex FAIL/LTC market then I will come back and give credit where credit is due. Right now however that looks extremely unlikely. Good luck!
Any update on actual features being worked on? All i see is talk about being listed to exchanges. That's great but can we please get some idea of what is being worked on with this coin? i.e. why should people buy it?
We were FAILed by some people which didn't kept their promises, but of course we are working on actual features. Imho, updates will be provided by the end of the month at most. Of course any help from honest people is well welcomed.
P.S. Keep in mind that MANY people contacted us asking for BTC, but FAIL will not work in that way. Nevertheless FAIL achieved more than many coins for just over a month.
Stay FAILed!
That's cool - just wanted to make sure the coin is still moving forward
Coins future depends by its community, not by their features. Yeah, they are important, but they are not vital. Many coins have a lot of good features, but are dying anyway.
True - but in order to gain a community outside of the few of us who mine this thing currently you have to have something to offer. Otherwise all you get is people who will come along, mine a few hundred million coins, dump em then walk away. In order to get people to stay and support a coin the coin needs to have some sort of plan for the future.
OK....
First, we are honest.
Second, we gave out more than 2B coins to MANY people.
Third, check the hashrate atm.. Currently FAIL is supported by about 1/4 of our community hashrate which is about 180MH.
Fourth, we are planning to sell only small chunks of our coins just to cover some expenses.
Fifth, millions of DOGE and tens of LTC are already prepared to back up FAIL, when we need it.
Why are we doing that? Its simple. We want to make FAIL price STABLE, because we are not another pump and dump group and we know how to make business!
Now.. you are asking for answers. Can you please answer me to one question: How many coins does that?
Honesty is not being called into question here, not sure why you feel the need to state this.
Again, not sure why you have stated that you have given away 2 Billion coins - what has that to do with the future development?
Glad you brought up the hashrate. I have been mining this thing for around 3 weeks now - watching the hashrate throughout the day. The reality is that for perhaps 90% of the time the hashrate hovers between 10 MH/s and 40 MH/s - then out of nowhere a user or users with over 350 MH/s of ASIC power come along and mine several hundred million coins before disappearing again. You can see it for yourself if you watch the blockfinder stats on the two main pools and watch the nethashrate spike from the regular 10-40MH/s to 350 MH/s and more.
Representing that figure as a measure of support or strength of the community is just not accurate I'm afraid. When the ASIC miner/s disappears the hashrate is back down to 10-40MH/s until they next choose to hit the coin.
What do you mean by "millions of DOGE and tens of LTC are prepared to back up FAIL, WHEN we need it"? - are you suggesting a pump is on the cards?
On your last question - Quite frankly nothing you have done so far is in any way different from what other coins do. Nearly all coins have giveaways. Good on you for doing so - but that is not a point of difference with this coin and any other.
Any update on actual features being worked on? All i see is talk about being listed to exchanges. That's great but can we please get some idea of what is being worked on with this coin? i.e. why should people buy it?
We were FAILed by some people which didn't kept their promises, but of course we are working on actual features. Imho, updates will be provided by the end of the month at most. Of course any help from honest people is well welcomed.
P.S. Keep in mind that MANY people contacted us asking for BTC, but FAIL will not work in that way. Nevertheless FAIL achieved more than many coins for just over a month.
Stay FAILed!
That's cool - just wanted to make sure the coin is still moving forward
Coins future depends by its community, not by their features. Yeah, they are important, but they are not vital. Many coins have a lot of good features, but are dying anyway.
True - but in order to gain a community outside of the few of us who mine this thing currently you have to have something to offer. Otherwise all you get is people who will come along, mine a few hundred million coins, dump em then walk away. In order to get people to stay and support a coin the coin needs to have some sort of plan for the future. e.g. a roadmap of new features that are being worked on.
What I'm saying is eventually its not enough to just say "Great things coming soon!" you have to start delivering something. The coin is going for 1 Litoshi when it should really be at least 10 litoshi judging by other small coins with similar max number of coins. It's 1 Litoshi because all we really have right now is a plain wallet and a single game.
Give people a reason to buy the coin - vague promises of "things" to come is not and will not ever be enough to lift the coin above 1 Litoshi.
Any update on actual features being worked on? All i see is talk about being listed to exchanges. That's great but can we please get some idea of what is being worked on with this coin? i.e. why should people buy it?
We were FAILed by some people which didn't kept their promises, but of course we are working on actual features. Imho, updates will be provided by the end of the month at most. Of course any help from honest people is well welcomed.
P.S. Keep in mind that MANY people contacted us asking for BTC, but FAIL will not work in that way. Nevertheless FAIL achieved more than many coins for just over a month.
Stay FAILed!
That's cool - just wanted to make sure the coin is still moving forward
Re: [ANN] [PURE POS]Information Coin(ITC) Fair&Free distribution New thread
Thie idea of 'fair distribution' is nice in principle but is a complete failure in practice for one simple reason - People were given between 100,000 and 500,000 coins for free and therefore even dumping them all for 10 bucks is worth it. Why the hell should I pay $40 USD for 100,000 when Joe Bloggs got 100,000 for simply sharing on Twitter or facebook and having X number of posts on this site a couple of months ago? It's probably the clearest ponzi-esque scheme in the cryptoworld - I bought into it and took a 70% loss on total portfolio value but got out at 130 Sat after buying at 500. Those left are sadly bagholders with a whole bunch of coins that have no real value - and nor should they if we are truly honest here - it was given away for free by the hundreds of thousands.
For your sake I hope someone picks up the coin and gives you guys a chance to dump for at least a third the value you bought them for - but don't expect any rational, logical trader to put real cash into this thing - your best bet is appealing to a pump n dump group and hoping you can dump your coins on the unwary before the rest catch on.
For your sake I hope someone picks up the coin and gives you guys a chance to dump for at least a third the value you bought them for - but don't expect any rational, logical trader to put real cash into this thing - your best bet is appealing to a pump n dump group and hoping you can dump your coins on the unwary before the rest catch on.
Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // Launched search engine @lill.com
Karma is by faaar the most traded coin on the ltc market on mintpal.... Going into the btc market with 2-3 sats is a huge risk imo. Cant we just shoot up here till 10sats or something?
No. I believe the reason the price is bleeding so much is because we are pegged against Litecoin - Like it or not it's a dying and antiquated piece of tech. At just 0.0164 BTC per Litecoin and dropping every week (was 0.0253 at the end of April) it represents a seriously bad investment for the long term - no one wants to hold it or any coin that is solely pegged against it.
People like Karmacoin - we know this - but they do NOT like that they must purchase Litecoin before buying it. Even if you held the price of Karma the same at say 200 Litoshi the actual value of each coin in bitcoin has dropped 54% since Late April.
When the block thirding occurs I would like to see a huge push by the devs and the community - using every bit of good news about Karma that we have, every feature that we have - to reach out further than ever before into the crypto world - tweeting, FB, reddit, articles, press release - anything and everything we can - and have it all synchronised with a BTC pairing being activated on Mintpal - whatever needs to be done to synchronize such a push with Mintpal should be done.
We have a real chance with the upcoming thirding to push the coin out there on Mintpal. Folks, it will not reach 10 Satoshi equivalent in the Litecoin market - Its just wont happen. Not as long as Litecoin is a dying coin. Even with the Bitcoin drop Litecoin has fallen from 0.01714 to 0.0163 - we simply must get out of this sinking ship and allow the Bitcoin market to help us reach a true and fair price.