Should we just re-launch the coin? There are too many unknowns at this point. I really don't want to do that (for the benefit of the Karma community) but I also realize we may not get very far under the current conditions.
Maybe relaunch on a platform like Ethereum? That may be our best bet at this point, and there could be lots of things we could do with it from there. Also, we would not have to worry about the wallet so much.
(Waves also looks interesting and probably has more reputable developers, but Ethereum could have the largest ecosystem by next year. Though they may have a problem with scaling with more autonomous entities running on the platform.)
I'm thinking only 888,000 coins. No ICO or pre-mine. Just pure Karma. Karma should be pure, not muddled with fifflyfluff.
I realize this is a nuclear option, since most of us own some Karma. At this point I don't really know what options we have that could secure the integrity of our coin, especially as it rises in price (i.e., some holders may be waiting to dump and profit from their activity, to the detriment of Karma).
If there's interest in other options then I'll create a new announcement post with a poll asking what Karma's future should be.
For example:
[ ] Keep things the way they are
[ ] Relaunch the coin as an independent coin (as it is now)
[ ] Relaunch the coin on Waves
[ ] Relaunch the coin on Counterparty
[ ] Relaunch the coin on Ethereum
etc
Hi Kosmost.. glad to see your still around.
I have been with Karma since its first few months of birth.
Just a few points:
1)
The reality is that at this stage the vast majority of coins are in the hands of criminals, crooks and gamblers.
That means that whatever good comes out of the existing Karma network going forward will mostly benefit those criminals, crooks and gamblers directly.
2)
Due to the excessive amount of coins in circulation value of Karm is so low that it would be almost impossible to get is listed against Bitcoin or Ether with any reasonable degree of liquidity.
3) the fundamentals of Karma are broken.. almost all of the coins were mined in the first few years which meant that early adopters controlled most of the coins. This made it much harder to encourage new miners and users to jump on board.
Really what this coin needs to do is drastically reduce the number of coins available and make the distribution more even across the years.
Coins need some kind of stability if they are going to be used as a currency so perhaps the amount of coins mined per year should be closer to that of inflation 3-5%
my vote would be for a relaunch of the coin using the same code base and assets but changed fundamentals so that early miners are rewarded but not given a free pass to instamine the the vast majority of coins that will ever exist.
Karma was a good idea but it was ruined by people speculating on exchanges.. the only way to mitigate against this is to make sure that the majority of coins are not mined until infrastructure can be put in place so that people can use the coin for something other than speculation and gambling.
