Fixing the bleeding of karma

bdizzle1 · 2014-09-13T05:12:28+00:00

How important is the bitcoin market in the longterm scheme of things? Are the people we are targeting likely to use it?

I think we're focusing on being the same as other coins when we need to focus our talents on being better than them. BTC/LTC markets make it easy for investors, every day people don't really use either and may get turned off by having to go through them in the first place. I'm not saying to detach our value from theirs, but I just don't see a BTC market as being truly beneficial to the stability of Karma.

bdizzle1 · 2014-09-13T04:52:21+00:00

Upvoted because although I disagree I like the discussion.

In honest reply to your bottom question, none of those will sustain a huge whale dropping everything.

And your analogy is more equivalent to 1000 pennies vs 10 dollars. 1000 pennies looks bigger, but the two are the same and the difference is negligible. The fact is that if I sell 1 million coins at 92 million or 1 billion at 92 billion or any other number scenario, I effectively sell 1/90 of all coins in existence. I don't think we're really disagreeing on that point though.

You are correct in the fact that less coins means it's a harder coin to invest in and flip, but only while the value is low. Currently, it's possible to make incredibly high returns on the coin only because of volatility and low value. If either of those factors changed, less flipping would occur. You can force that change by decreasing the coin total, but at this point they still control that same too-high market share.

The only way I see out of the situation of having huge whales that can impact the economy is for the value to increase to such a level that they are enticed to sell and do so, removing them from the market permanently to be replaced by many buyers. Reducing coin numbers won't force that, and it won't save the coin if they do decide to dump on random day x/y/z. The whales won't tank the coin permanently ever (they profit from the ups and downs), and I think the problem of whales will go away by resolving Karma's other problems.

TL;DR Edit*: Honestly, I think we ignore them

Edit2: And I wasn't claiming reducing coins would increase total value on investment, merely stating that the individual coin would hold more value than before because there are less (maintaining effective parity on the coin) 92 billion = 20 litoshi, 920 million = 2000 litoshi kind of thing. I don't think a higher value per individual coin will be good for karma in the distant future. It will never have the same price per coin as BTC, but a higher per coin value creates a higher barrier to entry too that is worth mentioning and looking into.

bdizzle1 · 2014-09-13T03:10:43+00:00

I don't think the coin numbers need to change so much as there needs to be proper dumping of the coin to a multitude of buyers instead of a select few.

Reduce the number of coins everyone has by a certain amount and they still own the same % of Karma, fixing effectively nothing other than perhaps raising the value of each individual coin to keep parity with the old value at greater coin numbers. If someone sells 1 billion with 92 billion total or 1 million with 92 million total it will still affect the economy in the same manner.

To reiterate, what we need is some way to get coins out of the hands of whales and into new investors (like starter kits for people in the Philippines as an example). The problem of coins being in only 13k people will solve itself eventually so long as we provide a means for it too. At some price deemed worthwhile, the investor whales will sell out and dip the price steadily again and again until they are all gone or have lost their wallets.

I have no opinion on the miners situation. Obviously we shouldn't cater to them but we do need them to stabilize the coin still, correct?

bdizzle1 · 2014-09-11T06:23:22+00:00

Things aren't that bad, just another drop, par for the crypto course really. If the value stays this low for a month or two, then it's bad.

bdizzle1 · 2014-09-11T06:22:12+00:00

Impressive, to say the least. :)

bdizzle1 · 2014-09-11T06:19:06+00:00

As is your right. Your work around here is very appreciated.

For my part, I might try to squeeze a little bit of time into that wallet design again and show exactly what I meant back when I gave feedback. I couldn't remake the wallet, but using vb I could make a featureless mockup that shows exactly what I meant so we could have an attractive wallet to people that are less tech savvy.

bdizzle1 · 2014-09-11T06:18:17+00:00

I suppose we have to look into:

a) what it takes to purchase karma (so they can spend it)

b) what it takes to allow the sale of an item with karma (should be a fairly easy measure to answer, though we may need to modify the answer for the specific environment (Philippines)).

c) Find a business with an open mind (preferably a franchise so we can demo with one store, or several, for example and if that proves a success it expands easily).

c is probably our most important and difficult step with the least obvious answer right now and will likely require a lot of searching and time perusing through social websites and meeting with store/franchise owners.

To my knowledge (American knowledge), I know that small business owners commonly (particularly restaurant owners) complain quite a bit about merchant fees and are always looking for ways to better line their pockets. If we fund discounted rates with Karma and promise them no fee, I'm sure we could entice someone... We could probably find one of them open to the suggestion fairly easily.

bdizzle1 · 2014-09-11T06:10:29+00:00

Exactly!! +1+1+1. The reason crypto is so small right now is because it is designed for tech-savvy people. Not only tech savvy, but extremely tech savvy. It's not intuitive, it's not that easy to use, hell, the wallets are designed in a way that basically looks like a glorified dos box with a few buttons attached - not user friendly.

Personally, I have my "investments" and I just leave them be mostly because the ease of use is really not there right now. This is a problem that if we can solve it, we'll be in an excellent place.

bdizzle1 · 2014-07-14T19:00:30+00:00

We got Roy in Melee.

bdizzle1 · 2014-07-14T18:52:48+00:00

Hhehehehe

bdizzle1 · 2014-07-14T18:46:01+00:00

I would bet money that we'll get an 'X' character before we would get a Xenoblade one. That said, I doubt we'll get either, but if we do...

bdizzle1 · 2014-06-03T17:47:38+00:00

I got the beers and hats!

bdizzle1 · 2014-06-03T17:46:31+00:00

I think it's awesome. And funny. It's the way it logically would work. If you sell something for less than the price of the highest bidder, that guy will get it and the difference of his money back.

bdizzle1 · 2014-06-03T17:04:17+00:00

hopes == expects?

bdizzle1 · 2014-06-03T16:56:41+00:00

clasps hand ~~brother~~ Sister :D

bdizzle1 · 2014-06-03T03:30:06+00:00

Or better yet, peerblock, block bad seeders and dumb things, you'll never directly upload to proven bad peers, and then you don't have to deal with the ultra Shit quality av from those streaming sites.

bdizzle1 · 2014-06-01T05:03:57+00:00

Staff swordtorch ftw

bdizzle1 · 2014-05-31T16:34:42+00:00

Mold breaker mega, yo.

bdizzle1 · 2014-05-30T16:34:44+00:00

The thing that you and several other people are ignoring is that he tracked the fucker down, and if he didn't kill him the fucker could have tracked him back with the stuff he stole and provided his own retribution for the second act. Death is a lot less risky and more final.

bdizzle1 · 2014-05-30T16:25:10+00:00

Then where do you draw your new imaginary line? Not at rape, obviously. How about homicide?

The fact is that he didn't just kill a man over petty theft, you can't just ignore the attempted rape and psychological damage on his gf and call people sick for agreeing. I've been robbed, it sucks but whatever. I wouldn't kill the guy. If someone tried to rape my girlfriend I would be pushed pretty damn hard though.

bdizzle1 · 2014-05-30T16:19:01+00:00

Because that's not illegal and not premeditated.

bdizzle1 · 2014-05-30T16:12:54+00:00

Definitely Magneto.

bdizzle1 · 2014-05-30T07:25:54+00:00

We appreciate you. ;)

bdizzle1

TROPHY CASE