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Could someone explain how Karma works on this website? (Or link me to a correct thread)

It's easily converted to currency.

Get as much as you can.

Don't end up like rapturjesus, or you'll be in debt to the mob.

Yes, but, How do you get it/receive it?

See the red (+) and (-) signs under my user info? Use those.

If the (+) is pressed, it means you like the post.

(-) means the post is crap.

Karma is the mechanic used by the website to vote up or down a post.

Voting up the post doesn't serve any applicable purpose, but once a post has been voted down a net 5 times, it becomes hidden and has to be clicked to be seen.

The number of times you have been voted up and down appears on your profile as a measure of the general quality of your posts.

Also, please don't call it krama. That is just really stupid.

Adding on to what Pimp Abra said, "krama" is a term that some people use for it for no apparent reason. It's just a "thing" on this site (though I agree, it is pretty stupid…)
Also, the thumbs-up/thumbs-down that appear on photos and videos have no effect on your karma, and are not displayed in your profile. Karma only appears on the forums.