What is Karmacoin? (KARMA)

What is Karmacoin?

Started on May 7, 2014, Karmacoin died as a project in 2015. Karmacoin (KARMA) represented the digital currency of Karmashares LLC, registered in the state of Wyoming. Karmashares proposed to create long-term value for investors by developing a variety of products and services.

In short, the Karmashares intended to serve as something of a cooperative entity. Members bought shares and theoretically received profits on a quarterly basis. Only non-US and foreign non-US citizens have qualified for membership. And the organization informed users that coins exchanged for membership did not constitute an "investment". Karmashares offered access only on a private basis, not publicly.

Promoting the concept of "doing good" ", Karmashares allowed members to invest their profits in the Karma Fund and the causes represented here.

How does Karmacoin work? [19659002] The Karmashares cooperative planned to finance a variety of for-profit projects, and then rewarded coop members through profits.

Chasing Shadows

A web search engine named Lill was one of these projects Members earned rewards using the search engine and advertising would generate revenue.

Other projects include Hireplex (a job interview website), Wespond (a question and answer website) and FABRIK (a store clothing and accessories online) Job seekers use Hireplex for free, but employers pay a fee – Wespond planned to allow users to post questions and answers on a member site the average. The system allowed responders to ask for an answer. FABRIK intended to sell Karma-branded items, such as T-shirts and hats.

No evidence exists to show that one of these projects has become more than just talking.

Apparently, Karmashares clashed with the US Security and Exchange Commission (SEC), and the Secretary of State's website for Wyoming lists the state of Karmashares as "Inactive – Administratively Dissolved (Fiscal)" as of July 9 2015, and the site describes the company's tax status as "Delinquent". [19659008] Karma Chameleon

Antoine Sorel Néron, Canadian-American, created the Karmashares and stated that it was the first initial money supply (ICO). And at the time the phrase Initial Public Offering for Coins (IPOCO) replaced what we now call ICO. Sorel also has the name of Tony Sorel and the moniker of "Kosmost".

His online biography makes colored reading, to say the least. He cites "a vast experience that brings massive IT projects to a big city (1999)", but never identifies the city. "Entrepreneur from the age of eight, he has also worked for some of the biggest companies in the world …"

Then at the age of 20 Mr. Néron set out to work in a company of Public Relations Financial Relations Financial Relations Board "where he quickly grew in the ranks to become the youngest executive in the company's history." LinkedIn shows the Financial Relations Board as a company of less than 20 people.

Upholds the honor of "an" inclusion in Standard and Poor's Register of Corporations, Directors and Executives as its youngest member ". The search in the register does not reveal any rumors about Antoine Sorel Néron.

Finally, he moved to Hong Kong and claims to have initiated "several multi-million dollar Internet companies using their own funds".

Goodomy, Spawn of Karmashares [19659009] At the beginning of 2018, Mr. Néron founded Goodomy using many of the same notions of Karmashares. Goodomy is the acronym for "GOOD economy" and the GOOD token currently sells for around $ 0.001924 USD with a total supply of 888,000,000 GOOD tokens.

The social blockchain of goodonomy claims to work on what they call the OTOL platform, which they claim to be "the first" action engine "in the world". On this platform, they claim to provide the Shopomy app, a mobile app to negotiate business without commissions.

While history repeats itself, there is no evidence to show that OTOL and Shopomy exist as something other than talking. And Goodomy has 5 followers on LinkedIn.

Karmacoin Code

Karmashares created a GitHub repository created for its software source code. The only programmer associated with this project is Leo Ribeiro of Fort Lauderdale, Florida. The project found there essentially consists of a 135-line C ++ file, including white spaces. To put this in context, this represents about the task size of a student's scheduling task. To make a comparison, the Bitcoin project includes hundreds of files and includes perhaps around one hundred thousand lines of code.

The Karmacoin team also provides another GitHub repository for its project. This project also includes only one programmer, but does not provide the programmer's name. This provides a much broader collection of code. The last update of this code took place in February 2014. This code seems to have been cloned both by the Bitcoin project and by the Litecoin project.

Like Litecoin, the Karmacoin project intended to be a lightweight version of Bitcoin.

Hall of Mirrors

Instant Karma will take you, and distinguishing Karmacoin from any number of cryptocurrencies with the same name proves a challenge. An ERC-20 token called Karmatoken (KTN) uses much of the same rhetoric as Karmashares. A product called Karma Koin provides a virtual currency on a debit card to pay for online games. And another product called Karma (KRM) provides a decentralized, cross-border peer-to-peer loan ecosystem.

Karmacoin Supply and Sustainability

The Karmacoin project planned to reward the first miners more favorably than the subsequent miners, without doubt encouraging early adoption. They planned to extract a maximum of 92 billion coins. The mining process incorporated the X11 protocol. Introduced for the first time by Dash, the X11 protocol claims to improve security.

History of Trade

Currently CoinMarketCap lists Karmacoin at about $ 0.001074 USD, so for every 10 Karmacoins you own, you have only one cent. CoinMarketCap inserts question marks on market capitalization and on the circulating supply of money. As a result, they remain a mystery. But the trading activity exists. It seems that someone is downloading the coins in the best possible way.

Where can you buy Karmacoin?

Where can you go to buy a dead dream of the past days? [19659003] Surprisingly, you can find exchanges that continue to list Karmacoin.

One is called YObit.net.

Likewise, an exchange called BigONE seems to continue to trade in Karmacoin in exchange for EOS. [19659003] Finally, OTCBTC also markets Karmacoi n for EOS.

Where can Karmacoin be stored?

The Karmacode team source code repository includes software for creating a wallet as part of the project.

By clicking on the hyperlink provided by CoinMarketCap, you access the website for the atomic portfolio. However, Karmacoin does not appear in the list of resources of the atomic portfolio as one of the supported cryptocurrencies. It is possible for Atomic Wallet to serve as a default destination for CoinMarketCap wallet links, or it is also possible that Atomic Wallet has supported Karmacoin in the past.

The Karmashares white paper lists the hyperlinks for "Windows Portfolios", "Mac Wallets" and "Linux Portfolio". But if you click on these links you will be redirected to a site of animated pornographic games. Well, the organization must generate revenue in some way.

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