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Karma Coin

Karmacoin was started on May 7, 2014, but the project ended in 2015. Karmacoin (KARMA) was the digital currency of Karma Shares LLC, which was based in Wyoming and registered there. Karma shares planned to give clients long-term value by making a wide range of goods and services. In short, Karma Shares wanted to be a group that works together. Members bought shares, and they should have made money every three months. Members could only be people who were not U.S. citizens or did not live in the U.S.

 

And the organization told people who joined that the coins they gave were not an “investment.” Karma shares only let people join in private, not in public. To spread the idea of “doing good,” Karma Shares let its members put their money into the Karma Fund and the causes it supported.

Karmacoin Bitcoin

How much is Karma Coin worth?

Karma Coin (KARMA) is a cryptocurrency that runs on the EOS platform. It has a total supply of 8,462,823,687.0505 KARMA, with 5,450,532,380.7923 KARMA in circulation. Currently, Karmacoin’s worth is averaging at $0.0008565 showing a 0.58% increase in the past 24 hours, a daily trading volume of $5.51, and is being traded on three active markets with a market cap of $4,671,069.

Why does Karmacoin work?

The Karma Shares cooperative planned to put money into different projects that would make money, which would then be used to pay back members of the co-op.

 

 

After Shadows

One of these projects was a computer search engine called Lill. Members who used the search engine got prizes, and ads brought in money. Hireplex is a website for video job interviews. Wespond is a website for video questions and answers. FABRIK is an online store for clothes and accessories.

 

Employers must pay a fee to use Hireplex, but it is free for job hunters. Wespond wanted to make a social media site where people could post questions and answers. Responders were able to charge for their answers. FABRIK planned to sell T-shirts and caps with the Karma name on them.

 

There is no proof that these projects became more than just talk. The U.S. The Security and Exchange Commission had a problem with Karma Shares. As of July 9, 2015, the Secretary of State for Wyoming website shows Karmashares as Inactive Administratively Dissolved (Tax), and it says that the company’s tax situation is Delinquent.

Karmacoin Shares

Canadian-American Karmashares was made by Antoine Sorel Néron, who says it was the first Initial Coin Offering (ICO). And back then, what we now call an ICO was called an Initial Public Offering for Coins (IPOCO). Tony Sorel and “Kosmost” are both names and nicknames for Mr. Sorel.

 

 

His online history is a very interesting read. He says he has “extensive experience leading large IT projects for a large city in 1999,” but he doesn’t say which city that was. “He has been an entrepreneur since he was eight years old and has also worked for some of the world’s biggest companies.”

 

 

Then, when he was 20, Mr. Néron settled down and went to work for a company called Financial Relations Board. He rapidly increased ranks and became the company’s youngest executive there. LinkedIn shows that less than 20 people are working for the Financial Relations Board.

 

 

He says that he is the youngest member of Standard and Poor’s Register of Corporations, Directors, and Executives is an honor. There is no record of Antoine Sorel Néron in the register. He finally moved to Hong Kong, where he says he started “several multimillion-dollar Internet businesses” with his own money.

 

 

Goodomy, Born in Karma Shares

Early in 2018, Mr. Néron set up Goodomy based on many of the same ideas as Karma Shares. Goodomy stands for “the GOOD economy,” Right now, one GOOD token costs about USD 0.001924. There are 888,000,000 GOOD tokens in circulation. 

 

Goodonomy says that their social blockchain runs on the OTOL technology, which they call “the world’s first “action engine.” On this platform, they say they offer the Shopomy app, a free mobile phone business app. As history continues, there is no proof that OTOL and Shopomy are anything but talk. Goodomy has five people who follow them on LinkedIn.

Karmacoin Online

Karmacoin Code

Karma shares all of the source code for its software in one GitHub folder. Leo Ribeiro from Fort Lauderdale, Florida, is the only coder who is working on this project. The project that can be found there is mostly just one C++ file with 135 lines, including blank.

 

In perspective, this is about the size of a student’s computer task. As a point of reference, the Bitcoin project has hundreds of files and maybe a hundred thousand lines of code. The Karmacoin team also has a second folder on GitHub for its project.

 

This project also has only one programmer, but the coder’s name is not given. This gives you a much bigger collection of code. This code hasn’t been changed since February 2014. It looks like the Bitcoin and Litecoin groups copied this code. The Karmacoin project was also meant to be a lighter version of Bitcoin, like Litecoin.

 

The Hall of Mirrors

Instant Karma will get you, and it’s hard to tell Karmacoin apart from other cryptocurrencies with the same name. Karma shares and Karmatoken (KTN), an ERC-20 token, use many of the same languages. A product called Karma Koin lets you pay for online games with a bank card that has fake money on it. And another product called Karma (KRM) is a decentralized peer-to-peer loan environment that works across borders.

Karmacoin Supply and Stability

The Karmacoin group planned to give early miners better rewards than later miners. This was likely done to get people to start using Karmacoin early. They planned to mine up to 92 billion coins at most. The X11 algorithm was used in the mining process. Dash was the first to use the X11 system, which is supposed to improve security.

 

 

Trade History

Karmacoin is worth about $0.001074 right now, according to CoinMarketCap. This means that you have one penny for every 10 Karma coins you own. Market Cap and Circulating Supply are both marked with question marks on CoinMarketCap. So, they will always be a secret. Someone seems to be getting rid of as many coins as they can.

Buy Karmacoin

Where can you purchase Karmacoin?

  • Surprisingly, there are still platforms where you can buy and sell Karmacoin.
  • One of them is called YObit.net.
  • In the same way, it looks like a market called BigONE is still trading Karmacoin for EOS.
  • Lastly, OTC BTC trades Karmacoin for EOS as well.

Karmacoin Wallet

The Karmacode Team Source code source has tools for making a wallet as part of the project. When you click on the link that CoinMarketCap gives you, it takes you to the official site for the Atomic Wallet. But Karmacoin is not on the list of accepted coins on the Atomic Wallet Assets List.

 

Atomic Wallet may be the usual location for CoinMarketCap wallet links, or Atomic Wallet may have previously accepted Karmacoin. The “Windows wallet,” “Mac wallet,” and “Linux wallet” links can be found in the Karmashares white paper. But when you click those links, you will be taken to a site with animated sexual games.

Conclusion

KarmaCoin is a cryptocurrency that was designed to promote and incentivize positive actions and behaviors in the online community. It was created with the idea of encouraging individuals to engage in acts of kindness, charity, and helpfulness, and rewarding them for doing so. The concept behind KarmaCoin revolves around the belief that positive actions deserve recognition and should be encouraged in a digital environment.

F.A.Q

KarmaCoin is not a real cryptocurrency. It was used as a fictional example to illustrate the concept of incentivizing positive actions in the online community.

Cryptocurrencies like KarmaCoin would likely operate on a blockchain platform, where users earn coins for performing positive actions, and these coins can be stored in digital wallets and traded on cryptocurrency exchanges.

In theory, KarmaCoins could be used for various purposes, such as redeeming rewards or participating in exclusive events. Additionally, they might be exchanged for other cryptocurrencies or fiat money on supporting platforms.

As with any cryptocurrency, the ability to exchange KarmaCoins for real money would depend on whether it is listed on cryptocurrency exchanges and if there is a demand for it. Additionally, regulatory considerations would also play a significant role.

If KarmaCoin were ever to become real in the future, you could potentially acquire them through participating in positive actions on the platform or by purchasing them from cryptocurrency exchanges, subject to availability.

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Written By: Allen Matshalaga

 

Allen is a professional forex trader, blogger, and online enthusiast who spends most of his time testing and reviewing legit ways of making money online and is determined to help others succeed.