Just broke a million (again)

375300237 ASC * 0.00012250 ASC/LTC * 23.5798 USD/LTC = 1,084,064.30473 USD

Oh, and just noticed ASC is now listed here: http://coinmarketcap.com/

If there is no mining, there will also no trading be possible becuase of getting no confirms transactions need !

Come back mine CAT and don´t only see proftabilt of your shit rig

Hi family.

I'll go in no particular order: I know this industry moves fast but don't let a rumor or spec turn into solid word on a whim please


1. Yes I'm CryptoBoomer (the person typing right now - there is 3 of us on this account at different times looking after different things). I am the designer/brander/one of the pr people/managers, I don't know what to label myself at this point as this is my first time helping a 'crypto launch', and it has grown into having to wear many hats for everyone on the team (underestimated the tasks/response/speed of this market/success we'd have), but it's not much different than any launch I've ever done for any big brands in the past.

I'm not the dev, this whole project could never be done with one person or just one dev/supervisor/outsourcer/etc.

Frankly it's a logistical nightmare even for this competent but tired team. I've been in the crypto game for almost a year now in various ways and have made the right moves in order to position myself as a good team leader/big player in this world.

Yes I've tried to help design/brand other coins just to mingle and network as there's only so much chart watching and daytrading you can do before you start thinking 'what else can I do with my talents and skills in this niche, I need a bigger challenge, I haz money...', and here we are.

After doing the above for other coins, the right people noticed my talents and outreach on twitter, and saw me as a good long term fit for something special and sensitive. I'm honored to be a part of this, and it's getting the BEST out of me and thus so is the market response.

I hope I haven't let anyone down by being on this or other projects, or by our motives of working with others in the industry to make powerplays, our communication, our delivery to date or anything else.

Although it may seem all easy for us from your point of view, I won't be shy to say this project has swallowed up my life and interest/passion more than anything in the last four-five years. That say's a lot for someone that is comfy/is hard to inspire/is already riding a nice crest in biz and life/is looking for something new and huge to leave his legacy after - and right now this looks like it's going to be it. THAT or we'll be dead from trying to take on the establishment and oil tycoons as a side effect to this - as a recent Skype convo went with a friend.

2. The exchange = you guys weren't supposed to find that just yet - - but if I 'really' wanted to hide it or myself I would have made sure I or it weren't found.

It is pointed at the eac site/as a temp .com while the exchange is built and although it's a full exchange for all alts, eac will have opriority and or incentive as we partner up and cross promote (again, I'm helping the exchange much like I'm helping eac, and by being able to do that I'm tying in two powerful worlds and so far it's a fit).

If you really think we'd go through the massive undertaking of creating an inhouse exchange just to facilitate getting a brand this far to dump a small premine (which is much smaller now, and the total coin amount is much bigger than during launch, and 2x/5x days are coming fast, we're moving towards even odds against the premine quick) in a few months, I'm sorry you're terribly mistaken. Watch our moves vs. speculate or spread fearporn. This won't be ready for at least a few months I'm guessing but that's still fast considering the challenge ahead.

3. The big news = Can't actually share it as it has a randomized timeline and prematurely saying anything won't be good - let's just say 'most of your assumptions re where we might go next' is probably going to come true.

4. This is not an opportunistic move for you guys to take part in with us, this is not something that's going to create wealth overnight (errrm, 3 million cap in a week, correction to 2 million, on 2 tiny exchanges that keep breaking... maybe it already has made some of you some nice return)... We're going to have rolling hills for a while. We're currently being diluted by 101 new coin launches as we were the most recent 'big hit' along with a few others and new miners are incentivized elsewhere with launch bonuses and short term traders are coin hopping daily.

Order books on the exchanges can take things to 03 or 08 within 10-20btc < yet we still remain at a 2M cap . If you can stomach the rolling hills (or ride them and profit on the swings, and don't let small volume exchange swings get to you) in the months ahead, you're probably going to see us continue to stick around and truck forward like a tank vs these opportunist coins coming and going (which can still make you tons of return I'm not hating on them, it's just not our model or objective).

You'll read more about dilution and consolidation in the news articles ahead that our team is putting together but we're still very strong in our mission to launch a unified effort that we can all represent and branch out from for the years ahead vs a fad, a meme, a quick spike, or 10 of each just for quick profits...

5. I'm rambling - thanks for reading and I hope everyone had a fantastic night/celebration!

Thank you!

Well in an ideal situation it SHOULD take 10 minutes per block. At the moment it's at nearly 30 minutes per block, so it currently takes nearly 3 times as long for transactions and payouts to process as it should. This in turn scares people away towards other faster altcoins, which in turn lowers the hashrate further, increasing the time taken per block, rinse repeat.

Currently it's 26 minutes per block, meaning that even with the reduced 60 block confirmation time for payments on some pools, you're still looking at just over 26 hours for payments. Hell even at the expected 10 minutes per block, it would take 10 hours for payments even at only 60 confirmations.

People are seeing these numbers, comparing it to other coins like DOGE (1 minute block time at around 80 confirmations for payments, or 80 minutes) or even MOON (90 second block time at ~50 confirmations, or 75 minutes) and simply shrug and move on.

One of five things will happen at this rate:

1. Whoever is manipulating prices on Cryptsy gives up, or at least allows the price to increase. He/they are probably the biggest reason for the prices staying so low (difficulty has increased nearly 3x yet prices are about the same as the other day). At the moment the entire market price for CAT across the board is being dictated by one or two of the earliest miners who were around at the coin's launch.

2. Someone with massive hashrates (perhaps a larger pool like Multipool for example) needs to turn their attention to CAT. Unfortunately given the absurdly low prices, it's far more profitable at the moment to simply mine DOGE and trade for CAT if you really want to gain CAT.

3. The coin itself might need to be changed to have a smaller retarget time (resulting in a hard fork, which has an extremely high chance of killing the coin altogether, as it would be delisted from Cryptsy and half of the reason people are interested in this coin to begin with is the fact that it's the Scrypt Bitcoin).

4. Demand suddenly jumps 10x, demolishing the 2500+ CAT sell orders on Cryptsy and allowing the price to rise naturally. At this point that's simply not going to happen.

5. Miners keep leaving, block time keeps increasing, the difficulty never decreases, transactions end up taking days or even weeks to process, and the coin for all intents and purposes, dies.

People keep saying that promotion is all the coin needs, but I think you are underestimating how much demand we'd need to generate to destroy the sell walls on Cryptsy.

i'm buying more while the price is still low around 0.0000052, already seeing more buy orders, maybe because of this.. ps: this guy https://twitter.com/CryptoBoomer twittered it, who is he or are they?
at least i cancelled my sell orders

Most people on here complain about FIAT but most coins inflate far faster than fiat does... Completely insane. Being the most profitable coin to mine ensures the supply of your coin increases at a rate which puts the Fed to absolute shame. Seriously, anyone been tracking the growth in the coin supply of Elacoin? That coin has almost quadrupled it's coin supply since December yet it came out in May. That's what happens when you change the block reward from 1 to 5 and in the process massively incentivize miners to mine your coin. Being the best coin for miners is not a benefit, it is a curse. It is a curse which anyone who is not a miner should see immediately. Being the most profitable coin for miners ensures that it is almost impossible for the coin to sustain any considerable long term appreciation. Sure, it may go up temporarily but how much can such a coin possibly go up in value? The higher in value it goes, the more hashes are sent it's way. It sounds kind of like the worst investment possible, actually. I mean, how is a coin supposed to gain value if it gets attacked with gigahashes every time it appreciates?

So, in sum... We should rejoice that dumpers are abandoning us. For miners that genuinely care about CAT and it's future, there is no reason not to send some of your hashing power CAT's way... Plenty of people do that for coins they actually believe in. Sadly, I see more and more confirmation that most miners care only about the Almighty U.S. dollar. Or perhaps it is not such a sad thing afterall... I mean, do we really want such people mining our coin? Why? So they can dump it on us? So they can post nice positive stuff about CAT when it is rising and trash talk the shit out of it when it dares disobey their order to fork the coin and reset the difficulty? Why the heck would they care if that destroys the coin -- the coin is already destroyed as far as they are concerned, as is every single coin except the very most profitable coin (that logic clearly only makes sense in Miner Land).

awesome, thank you, glad ppl like my work

Forking NOW kills it. Without a chance of returning.
We need promotion, but not as strong as where it goes on cryptsy (hashrate x4 before diff recalc).

In big markets like BTC where there are a lot of "chartists" (People who think they can predict stock movement based on historical price movements), it becomes like a self fulfilling prophecy where a shape appears and a bunch of people decide it's time to buy/sell thus moving the price in that direction. In most altcoin markets, this doesn't exist since the market is too small.

In these markets, ONLY supply demand rules over everything else. As people have pointed out correctly in this thread, the fact that there are few coins being mined means that supply is shrinking. If demand is constant or goes up, then yes price will indeed go up.

The problem UNIQUE to CAT is that it's block confirmation times copy that of BTC which as I stated in a previous post is a MISTAKE. You want demand to go UP for price to go up. But as blocktimes increase, people will be LESS inclined to trade CAT instead of say DOGE or Kitteh with much shorter confirm times. Because of the annoyingly long block times, demand is currently stagnating. Having 10 min block times is not a good idea even if it copies BTC because one of the most fundamental improvements altcoin added to crypto was having SHORTER block times, thus this is a regression and not an innovation to go back to 10 min.

If demand doesn't go up because of this inconvenience, and supply continues to shrink. Price will STILL not go up. Instead volume will decrease and slowly CAT will die.

I don't want this event to happen, I pointed it out previously that CAT should have had 5 coin block rewards at 1 minute intervals to compete with other coins. If this can be changed somehow, CAT demand will increase and it will have a chance again.