Many devs inactive in new year. Still not sober  |
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I believe it is happening. Since the code is open source and public, anyone can takeover in absence of dev(I might be wrong on this, confirms?) |
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I believe noone knows whats the DEV country or primetime. We just have to wait to hear from him.
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I think everyone agrees we leave the total number of coins intact.
Just make it 1 or 2 minute blocktime with retarget 3-4hrs.
Dev is probably still busy dealing with the robbery... Please when you see this either take action or realese the coin to someone to take over. We need to act, or at least let pppl know that we are acting.
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And we are in 6's, nearing 5's. Cant believe I sold PPC I held for 3 months for CAT just 3 days ago. I always perfect time those things  |
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The following is why short of someone seriously manipulating the prices upward, CATcoin will continue its death spiral. There are many die hard optimists in this thread who don't use logic and invest purely based on emotion or some arbitrary libertarian ideal. Those people will say things along the lines of "The difficulty retarget and block times are perfect because it's the same as bitcoin" or "CAT is an alternative to bitcoin which is more decentralized and combats the increasing levels of bitcoin regulation by governments". In reality, however, CAT is not operating under the same environment as BTC and treating them the same is a mistake:
When BTC was this young, it was the first and only crypto out there. There was no option to mine other coins if the difficulty got too high or sites such as coinwarz which told you the most profitable coin to mine at any given time. Multipools did not exist and there wasn't even an exchange where people could trade the coins they mined that told them what is the market price at the time. Therefore the concept of a huge number of miners bringing difficulty up and then bailing when the difficulty has retargeted was not a big fear. Now that BTC has ASICs, this is even less of a concern since miners who own the ASICs can't do anything else with them. Even if the price tanks, as long as they earn more than the electricity costs, they will keep mining.
CAT does not have this luxury. CAT exists in an extremely competitive environment where it must attract both investors and miners from all the other altcoins, more of which come out every day. Saying CAT is fine just cause it's the same specs as BTC is ignorant and deluded. In the end, coin prices are determined by supply and demand. While supply is indeed shrinking due to the lack of miners, the unfortunate thing is the demand is also shrinking due to the extremely high block times. Many on this thread claim that promotion will fix the problem but last night I attempted to transfer some CAT and each confirmation took nearly 3 hours. Of course this is an unusually long time even for the current hash rate but it demonstrates just how bad the problem is. How do you promote such a crypto? Who will use a coin that takes this long to confirm? It's use even in a gambling site is questionable as it takes half an hour to send in your CAT and half an hour to retrieve your winnings. Why would you roll the dice with CAT when doge can do it in 2 minutes?
Unfortunately, I already know I am going to get reamed by the die hard CAT fanboys here for posting this but the points I make are still valid and nobody who has responded to my posts in the past have actually addressed my concerns with logical arguments. Of course it's still possible that through manipulation, CAT can recover through this current difficulty level as someone artificially raises the price. However, I am not willing to gamble on that chance and have sold all my CATs. Even if this happens, the cycle will just repeat itself again at the next retarget anyways.
In the past I have indicated that the only way to save CAT is a hard fork which decreases block times to 1 minute and changes difficulty retarget to roughly once every 24 hrs. This was received poorly by the community. Perhaps the community will be more willing to consider it once it takes 1-2hrs average for a block and the price is at 0.0002. Maybe then I'd be willing to reinvest in CAT again.
Exactly. Whole point of scrypt(LTC) was to be faster with confirms than BTC. And now we have slow scrypt. Why everyone thinks that we must copy diff retarget from btc? I am still holding my cats but people please, do nto just sit back and watch the retarget timer to grow and grow.... Waiting for 0.0005 then, hope not to see it  |
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nullu and what would be wrong if the coin would retarget difficulty every 1008 or 504 blocks? You just admit that the code is not adapted to the current altcoin situation in the miner world.
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I feel like everyone is just watching cryptsy price and trading cat already mined and in cryptsy's system, thus they are missing this. There is a severe. Right now the network hashrate is 0.395GH/s, which is EXTREMELY low. For some reason, it seems lots of people are dropping off mining, either be it that a multipool was mining this currency and converting it to btc and has moved on to a different coin, or people have just moved on in general. This is causing severe blockchain stagnation as the 10 minute block time has caused the difficulty to rise to 173 when the network rate was 2GH/s. Blocks now seem to be happening every hour if we are lucky http://catchain.info/chain/CatcoinAccording to this, during blocks 20240-20251, about 12 hours passed, in the way this coin is supposed to work, at a 10 minute block time, that should have taken 110 minutes to make those blocks. If you didn't know by the way, 6 confirms are needed to make a transaction, thus at ~12 hours to move to confirmed this is pretty nuts. The block difficulty adjust is not going to happen for another 1925 blocks.. or according to current block time, 1925 hours, 1925/24 hours = 80 days before this coin will actually be able to happen again, and by that time, everyone may have moved on. Either the difficulty adjust needs to be fixed by the developer to not be by block amount, but rather by time, or this coin is going to have problems. +1 we need to take some action. "Adapt" is not the correct strategy here. Network is not stable enough to calculate diff every 2 weeks(like BTC does). When BTC was doing it there were no altcoins to steal mining power... |
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I suspect the small offers are being posted by using an API, and someone is writing programs with loops to post lots of small offers. Cryptsy (or some other enterprising exchange) could counteract the effect of this by allowing users to collapse offers based on falling into ranges of values (like .00078-.000799999) into one pseudo-offer. Any any case, on Cryptsy, you can conveniently specify a high number to do a purchase and it will automatically sell at the best possible price, so in effect you can eat up dozens or hundreds of these ridiculous entries, in one buying step. By contrast, you have to be careful at the other Catcoin supporting "free" exchange (left unnamebd), because if you try to do this, they'll pocket the difference, so you have to laboriously type each purchase amount to match each offer on the market to get the best price.
Sell on Cryptsy, buy from CoinedUp. You can sweep up a few sell orders on CoinedUp. Even if they're keeping the change (on the sale of the lower priced sell orders), the overall buy price is still lower than you'd pay using Cryptsy. That's been my experience. There's actually a stocktrading term for this strategy, but I forget the name for it. You have to get your timing right, because normally the price differences between two exchanges will normalise. Arbitrage. It's difficult to do with cryptocurrency though due to the transfer times (especially with CAT as it is at the moment). That's the term I was thinking of. Yeah, It's not really helpful with how slow the exchanges are in confirming deposits. You would think they could invest some of that money they make in better servers. nullu there is nothing exchanges can do. We have too high difficulty and blocks are far from 10 min time. Thats why confirming is slow. We are still more than 1900 blocks till diff change, its hilarious, doubt we can survive this. I have sold all my PPC to buy into cat. Man I am stupid... |
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I can donate some bounty for development as well. Invested some funds into this coin and would not like it to stay at 1 satoshi  |
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Yeah we wont see any buying till ltc prices reach 33... Maybe decrease block reward or increase block time, or when we halve rewards. I am no dev, but we seem to have too many coins  |
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i cant sync my wallet
open for three days in a row now and yet noting happen yet...very frustrated
Try to relaunch it. Or maybe add those nodes in .conf file: addnode=207.12.89.21 addnode=mystphysx.no-ip.biz Strange you have this problem, there are not many blocks, it is usually quick to sync. |
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Some gdc blocks are not calculating coins. For example:
269,014
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I'm mining in coinium.org's Cat Coin pool. Smooth and stable.
Fredeq
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Any pool paying out block fees? Some blocks look huge in the explorer...
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Thank you for 2 wasted nights. Bye.
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Someone PM me the best CGminer settings for my HD5470 and you will get a bounty.
alt-f4 +1 |
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I bet he will come in 20 mins and say:
Whaaaaaa, so its 24 utc?? Sorry wrong timezone folkssss
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Show the registered users on home page so we can now where to start pool, otherwise it will become a flip coin you sure it's stratum.coinium.org and not cat.coinium.org on the pool stratum url ? yes because we have a seperate stratum server, we are not hosting stratum server on our web-server. web-server: cat.coinium.org stratum: stratum.coinium.org:3336 So 3% donation that cannot be changed till mining starts. Gives error: Failed to update your account: Unable to connect to RPC server for coin address validation |
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