Bitcoin Forum

Wow things have been crazy the past few days. We got listed on coinmarketcap.com ahead of relaunch which caused a surge in miners and then some naughty kittehs decided to attack our biggest pools in an attempt to lower difficulty and get many more MEOWs all for themselves. Tsk tsk. Thankfully the community (and the team) responded quickly and more pools have been stood up to further distribute the network and give miners multiple places to go.

As you may have heard we were shooting for a 1/27 relaunch but because there are coin-spec changes coming we wanted to be above board with the community and announce them FIRST before forking. This will lead to a hard fork in the KittehCoin codebase and we will be coordinating with the major pools to perform the upgrade so miners are minimally impacted. Solo miners will need to update their clients.

Here is a rough timeline for our relaunch, and what you can expect with the dates:

• 1/25-1/26 or thereabouts - Official posting on bitcointalk, twitter and other forums announcing the revised coin spec (keeps things above board and lets people mine on old spec for one more week before the fork)
• 1/31 - Internal pulse check with dev team to make sure we are on target with all services for 2/3 relaunch
• 2/3- Official relaunch, this may just be services and coin spec going into affect but we may have some new features too. We will also launch the paperwallet, block explorer, kittehdice, an iOS app, paperwallet, the final cleaned up wiki, and the new website on this date (maybe more services+games too, working with partners)- they'd all go live at the same time and be posted in the same announcement.

~promotions, giveaways, getting listed on directories and exchanges, etc all happen after relaunch~

----
NEW COIN SPEC!!!

We will be changing the coin spec to improve the health of the coin, the blockchain, and repair damage done from the faltered initial launch. We are also doing this to avoid blockchain-bloat and other issues we've learned about from DOGE. Here is the new spec, this IS NOT YET IN EFFECT, will take effect 2/3/2014 with the relaunch.

Major spec changes include increased block time, reduced max coins, changed payout schedule to keep rewards proportional to the max coins reduction.

Coin Type: Scrypt
Block Target: 60 seconds (increased from 30s)
Difficulty Readjustments: 1 hours (unchanged)

Total: 25,000,000,000 coins. (reduced from 50B)

Special reward system: Random block rewards with a minimum 1,000 MEOW per block

Payout Schedule:
Blocks 1 — 200,000: 1,000 – 50,000 MEOW Reward
Blocks 200,001 — 400,000: 1,000 – 25,000 MEOW Reward
(schedule halving occurs here, note block distance change in reward schedule is every 100k blk down from 200k)
Blocks 400,001 — 500,000: 1,000 – 12,500 MEOW Reward
Blocks 500,001 — 600,000: 1,000 – 6,250 MEOW Reward
Blocks 600,001 — 700,000: 1,000 – 3,125 MEOW Reward
Blocks 700,001 — 800,000: 1,000 – 1,561 MEOW Reward
Blocks 800,001+ — 2,000 Reward (flat)

Total Block per day: 1440.

-----

Team Roster

AustinDizzy    (http://kittehcoin.info/forums/profile/?u=215) - KittehCoin TipBot, Subreddit Mod
coderboo    (http://kittehcoin.info/forums/profile/?u=226) - Crypto Expert
danosphere (http://kittehcoin.info/forums/profile/?u=1) - Lead dev, jack of all trades
jonn4y    (http://kittehcoin.info/forums/profile/?u=210) - Web dev, iOS Dev, ninja
lmfsthefounder    (http://kittehcoin.info/forums/profile/?u=123) - Android Dev, service developer
majsta (http://kittehcoin.info/forums/profile/?u=124) - Mining partners, community outreach
mbekhet    (http://kittehcoin.info/forums/profile/?u=254) - Web dev
Mortimer452    (http://kittehcoin.info/forums/profile/?u=12) - Math wizard, crypto expert, wiki curator
Nielsg93    (http://kittehcoin.info/forums/profile/?u=3) - Community and social outreach and web dev
Prinzert    (http://kittehcoin.info/forums/profile/?u=6) - Wiki curator
sebastien1234    (http://kittehcoin.info/forums/profile/?u=5) - Wiki curator
snipsnoop (http://kittehcoin.info/forums/profile/?u=168) - Wallet compilation

If you have any questions please feel free to ask. Also please note that user Ng93 is an official member of the devteam and will be happy to address any questions you may have as well. Thanks for supporting KittehCoin we're doing our best to make this a solid long-lived coin and make the relaunch a success!

Thanks,
Danno

TL;DR;
- Relaunch schedule for 2/3/2014
- Relaunch will feature primarily revamped websites, new services, games, and merchants
- Relaunch MAY have new client features but this is a MAYBE right now.
- Coin spec will changed at relaunch (See above)
- Team listing and roles - feel free to reach out to team members (see above)

AMAZING Danosphere!

Coin Type: Scrypt
Block Target: 60 seconds (increased from 30s)
Difficulty Readjustments: 1 hours (unchanged)

Total: 25,000,000,000 coins. (reduced from 50B)

Great work!!

I cannot believe how many Dev's are now working on Kittehcoin!  Keep up the good work!

This looks very promising.

Good work!

Cool! So the rewards will be halved basically? And this will start on block 100kish? 

Great work

Great job guys

extra hard work, equals extra  special rewards...You are appreciated...

Thanks for the positive responses! This spec-change was done based on researching other coins that are successful, looking at coins that have failed or ran into issues like blockchain bloat, and of course... spreadsheets and formulas!

Based on a quick estimate yes- the reward change will occur roughly around block ~100k which should fall on or about 2/3/2014. Keep in mind max coins is being reduced too so the reward halving is proportional to that- until we get past block 400k then the tiers get shorter and rewards get cut in half every 100k blocks rather than 200k blocks before flattening out to 2000MEOW past block 800k.

Random rewards remain in place!

Noice. Gotta get back to mining kittehs  8)

We currently have a 30s block time for a 1000-100,000 MEOW Reward. That's 2880*50500 = 145,440,000 MEOW per day (in fact a little more as the random is between 1 and 100000, then increased to at least 1000 if it was lower).
Now we will have 1440*25500 = 36,720,000 ! This is nearly a 4 times decrease, which is gigantic.

I don't know if there was previous coins with a fork changing the rules as tremendously as that. I should be happy about it, being a big holder of MEOW's, but I fear this will make this coin perceived as a gigantic pseudo instamine for 4 weeks by a few lucky ones to have choosen this coin.

Well, the dev team certainly did put a lot of though into this change, so I'll put my faith in their decision.

Just wana know, are all coins on previous wallets safe? I still have my coins on the cat with the cigarette, will I be on the right chain after the fork?
Thanks for all your hard work dan, really appreciate all this work you are the team are doing for this coin :)

Salut to the best hard working dev on BTT right now. This will help Kittehscoin in the long run. Good job  :D

There has been an abundance of information preceding this spec change, it should not be a surprise to anyone. The initial spec was very broken. There are 4.7B coins currently in circulation mined by whoever has been mining since the original launch in December. We're announcing these changes a week before implementing them to keep everything above-board, these changes need to happen to assure the long term health of the coin. Anyone who thinks this is a pre/insta anything is very wrong.


Yep your coins are safe even if they are still with the ole reefer-smoking cat wallet :) You should make sure you update your wallet when we relaunch though for sure, and we'll have detailed instructions on upgrading on relaunch so that everyone knows their MEOW will be safe. We're of course doing all the required testing and such before these changes go live  ;)

these are definitely some hard working guys! thanks again for the hard work.

Bomb nice to see a devoted dev thanks for the update.

Great thanks for clearing that up for me :)

The strength of any new coin is backed by the how well the dev team backs the coin. By the looks of things everything is in place to turn this into one of the best coins with the relaunch. Well done devs you will be rewarded in the long run.

what`s the plan for getting on cryptsy????

4 times decrease yes, but only after block 200k, at which time the rewards would have been halved in the old spec as well, so this is really just an increase in block time to 60s versus 30s.  1440 blocks per day instead of 2880.

We went back and forth about this alot before deciding in the new specifications.  The old coin spec was definitely broken and would have resulted about 40% of the total coin supply being mined in the first 2 years, and another 30 years to mine the remaining 60% at a flat 1,000 MEOW per block - this just didn't make sense.  The new specification and reduced supply gives us a total mining time of around 8 years, with a much more gradual decrease in block rewards over the coin's mining period.  Overall, it's best for the long-term strength and value of the coin.

We really wanted relaunch with everything including the new coin spec on 1/27 but we're not quire ready, and it just didn't seem fair to adjust the rewards without letting the community know about it at least a week ahead of time, to give everyone a chance to mine on the old spec before implementing it.  We are trying to be as involved and up-front as possible in everything going on with this coin!

We will be pushing hard for a Cryptsy listing very soon after the relaunch.

What happened to the old Kitteh?  Saw a bunch of people bragging on twitter talking about how it was their new p&d on Crapsty.  

Too bad they killed the old coin, good luck with the relaunch

Think this is much better for the coin,

Great development team etc..

Why killed we the old coin ?

Kind regards

https://twitter.com/maxkeiser

Nice work. Jump high little kitty.

So rewards are effectively reduced to 25% while total coins generated were halved.. Block generation time doubled (50% reduction in rewards within a given period) and the block rewards were halved (50% reduction).

No. Rewards and nr of coins are halved (1/2) after relaunch. This is done by doubling the block time. The block payouts remain the same.

Re-launch will be at ~ 100.000 blocks mined.
First block halving at 200.000 blocks.

Buy while you can price is sky rocketing went from 25-40 in the matter of an hour also famous twitter guy with 90k followers advised people sell dogecoin and buy into kittehcoin ! to the moon

Things are looking real positive thanks 2 hard working devs and growing and positive community and kitteh hasnt even hit cryptsy yet. That should be fun!!!
One thing really think the 'so export' should be removed from wallet in future update. Dont look good and will just make people thing doge!!
Keep up good work!!!

Think kitteh was at 29satoshi when this thread wasnt posted now already at 50satoshi!

Thank u devs for finally coming thru with kitteh and improving it!
https://i.imgur.com/QMwX24n.gif

Keeping a close eye on my kittehz!
Great Succes!

Noone panic sell keep the sell walls high.. we are going to 100+ easy just wait

Imagine when Kittehcoin hits Cryptsy?

All of the non-believers are truly getting nervous now.

Max Keiser said SELL Doge and BUY Kittehcoin:

https://twitter.com/maxkeiser

AHAHAHAH this was the exact image in my head when I wrote that!

Thanks, posting this to twitter right away!

This really make my day as a dev and internet-geek, thanks  ;D

https://i.imgur.com/jqM8c1g.jpg

Dano. I was supporting Meow since launch :-) Have some M in wallet and I have difficult thoughts about planned hard fork.

Not will happen something like with Etokens? Coin was destroyed with this hard fork.

I am really believe in U. And hope that everything will be fine!

I am from Russian community and if needed can help somehow.

Cat Game, starting right meow.  Hurry up meow!

http://youtu.be/NZkKsGtrW88

Get it on BTC-E instead!

BTC-E Don't Take DOGE I asked them.

They are so sloow...

So will current coins be useless then?

current coins are fine

Thanks, and is there currently no wallet out there able to be used?

Little weary about leaving a couple million coins on a pool.

Looking forward to get MEOWs and see the market after the relaunch ! Great job guys

You have a couple of million and you dont even know there is https://kittehcoin.info/ ? I dont know what OS you have but you can download wallets from there

I am pretty sure there are people that want the market cap to get to DOGE level.
Seeing fontas and Max tweeting it. It's not a quick pump. This is maybe one of just a couple coins
other than DOGE that can get up to 20,30, 50 million market cap.

Get on the marketing big time. The coin specs meant almost nothing for DOGE. It was all
about marketing. ALL.

+1

nope.  all coins well be fine ,so just buy some and wait .

10+ devs on one coin AND marketing?

Can't go wrong.

Get ready people ;)

We are not killing anything. Coins you already have stays the same

very excited :)

Sorry if this is a noob question but is it still possible to mine the old kittehcoins up until the relaunch at which point they get converted? Confused.

they wont be old or new kitteh coins. its the same coins just being relaunched with new features. what you mine today will be what you mine on the 3rd...just the block reward will be cut in half. hope that helps

ah ok. thx

Much Kitteh, Very excite.  Doge is scared.  Wow!

Good update. Interested in the future.

Ignore the trolls. There will be many now. Same happened to DOGE.

Not sure if you guys are aware. There is $700,000 USD in volume today on coinedup.com. China
is buying up now. Coinedup slow at 4am in the US means only one thing!
https://coinedup.com/OrderBook?market=MEOW&base=BTC

I just watched it break back over 100 satoshi with large volume spikes.
With the coin reward being cut in half soon that will only make it double in value.
There are tens of thousands of dollars in buy walls and they are having to get their
coins from the sell wall. No one selling. Just saw 16 BTC sell wall get eaten in 5 minutes.

Keep up the good work! Maybe we can get up to 8 million market cap today!
http://coinmarketcap.com/
You have surpassed the volume of almost every other coin.

Finally a coin to take on DOGE.

EDIT.. whoa.. jumped 10% while I was typing!
double whoa... buy walls just went insane.

Congrats!!!

Do you recon now is a good time to get out and buy back in the morning or are we heading to NASA now? :P

I think 180 satoshi is possible by morning. But it could settle back to 100 again. Up to you.
It looks pretty crazy in there. Just saw a 17 BTC buy wall at 96.

Don't think anyone will let it go much below 90-100 anytime soon.
If Max or fontas keep talking about it then it will probably continue. And this volume is just wild.
Coinedup is handling it well.

yeah and this could get even crazier after relaunch if we hit crypsty and other exchanges. I think KittehCoin cause CoinedUp's servers to take a beating last night!

We are hard at work on the relaunch if anyone has an answer to this question it would be very helpful (compiling litecoin client on mavericks) https://bitcointalk.org/index.php?topic=434888.0 - having the same error with the new KittehCoin client and could use some assistance to get this working ASAP for the awesome Kittehs out there waiting to get their hands on it!

Thanks!

price is definitely going to get crazy after relaunch.

:) Just got the new mac wallet to compile (to be available 2/3). Now I need to store my MEOW somewhere safe before I run it and setup a testnet  :o

We're just getting started meow...

Do you think the new specs will make us less attractive to multipool/autoswicthing pools?

  PHAD.

yes, the new specs mean less inflation. and less inflation equals less mining intention.

Huge dump

Yeap. Someone with big money speculates. He know that MEOW blow in near future :)

So he would be selling out of his holdings?  Why would that be a good move?

he could buy back cheaper, coz of panic sellers

@danosphere: The new exchange(s) will be on the same date?

We will try out hardest to get listed on Cryptsy and other exchanges as soon as possible after relaunch, however, the exchanges pretty much do what they want, so there's no guarantee we'll be listed right away.  We have spoken with a few already and received positive feedback so far :)

Are you one of the devs?

In the main site there should also be a directory of all sites and services

Kittehcoin P2Pool - STATUS: UP
Pool URL: http://taken.pl:9566
Username: Kittehcoin Address
Password: Anything
Algorithm: Scrypt
Don't use an exchange address - Use your wallet address!

I am the lead dev, the main site (Relaunch) will have all of that info like any solid coin should have (and will be updated as we are added other places, etc).

Can someone fix the entry for our pool in the wiki (https://kittehcoin.info/wiki/category/mining/)?  It's meow.cutk.com (http://meow.cutk.com) but there is a URL above it that looks like it's for our pool but in fact goes to cryptovalley.  ???  Thanks!

Is there specific time that the relaunch is going to be done tomorrow?

BTW, the pool will be updated with the relaunch. PPLNS, VARDIFF, DDOS protection, always up, support is available. SSL via self-signed cert if you're so inclined. We strive for perfect proper and correct server management all the time.  meow.cutk.com (http://meow.cutk.com)

Is the diff also decreasing when the relaunch is implemented?

Diff algo is the same