Been following CAT coin since the beginning, and mined for a few days when it launched but I have nowhere near as many catcoins as some of you. I didn't dump them when the price was high and so I'm holding on to what I have and trying to participate in this coin as just another opinion at this point. When Catcoin launched it had a good attitude about it, there was a sense of euphoria associated with that Catmeme tempered by the realization that the code was based tightly on Bitcoin but with scrypt instead. Well now we are seeing that this formula doesn't work to maintain a stable coin at this point due to difficulty fluctuation caused by the automated pool hoppers.
So it seems pretty obvious that something needs to be done. The current Estimated network hashrate: 16 MH/s is pretty low if you ask me. I know that when we launched a lot of people were able to sell their coins for .0001 and many invested in CAT coins to try to maintain this price but I don't know that it'll ever get back up that high again unless we as a community are able to fix the difficulty problem. I think that adjusting the difficulty every block round with a 36 block average should be an improvement over what we have now. I also think that doing this via a testnet sounds like a better plan than simply rolling out a fork.
I think there is some merit to see Catcoin as a coin to experiment with. I like some of the concepts that Hozer has suggested and I think that it'd be great if we as a community could embrace an experimental basis for this coin rather than watching it slowly die due to the slow response time to difficulty changes and still relatively high value of the coin. Altcoins need to provide something novel to succeed, part of this is a tighter knit community which is possible around a smaller project, than say Bitcoin as a whole. But the other thing is that it needs to be fun to mine it, people have to feel excited about getting the coins, and this excitement shouldn't come exclusively from a profit or speculation motive because otherwise everyone will just be waiting to sell them for Bitcoins. I'm sorry to say but it is my suspicion that if you wanted to make a killing on catcoins well you should of dumped your bag of cats down by the river a long time ago because now we are dealing with a cat that has some serious health issues and we are going to need to coddle and feed in order to nurse it back to health. It might be possible for CAT coins to rise again but it will most likely need to bring something to the table other than just being the cat counterpoint to Doge. I see that someone launched GrumpyCoin and there will always be new memecoins popping out and attracting attention. What seems to make a coin valuable and useful is if people actually care about using it. The collaboration with CryptoCat is great are we just waiting for someone to compile a OS/X wallet for their developers ?
I also like the idea of adding Proof of Share to CAT coin but I do know that this is complicated and would need to be thoroughly tested and agreed upon by the community but some kind of Proof of Share concept could encourage and reward people for holding onto the coin. I know Peercoin uses this but there is also Diamond Coin and a spin off known as Philosopher Stones that do both Proof of Work and Proof of Share, so perhaps they could be good code repositories to learn from.
I don't know of any good overall analysis of the Altcoins to compare the different features that they have, their blockchain rewards vs. their price stability vs. novel experiments but I think that we should treat CAT as a work in progress and realize that unless we are willing to experiment and have fun as a community then this cat won't go anywhere.
Is there anything that relatively non-developers can do at this point to help with the testing and is there any place that a summary of the code changes and general consensus of the "board" or what not is being recorded ? At this point I see some progress being made but it's hard to tell exactly what is happening and when and that would probably be useful to assuage the fears and uncertainty that people seem to have.