Read my post above yours.
I think there is a small glitch on Cryptsy's side.
I didn't panic sell, I just wanted a very small amount of BTC by selling a little 42. But it felt like I simply can't, so I found myself decreasing my sell price over and over again until I found it too ridiculous to continue.
I guess I am not alone with this experience and this would easily explain the fast dropping even if some or even most of the orders get instantly fulfilled.

Strange. I forgot I should have kept a very small amount of BTC on Cryptsy, so I tried to sell 0.002 BTC worth of 42. I always placed the sell order at top buying (not even halfway between low sell and top buy) price, but the transaction just never happened. I moved it lower and still nothing. It seems like it will take longer than wiring that BTC through wallets rather than inside Cryptsy. But that's the smaller problem. Why is 42 trading so laggy and/or buggy on Cryptsy?



I won't argue against your wish.

Oh, it seems like it wasn't that hard after all.
Did you watch the show of just used google?

Anyway, you just won 10 CAT coins!

Ah, you were already too late and made an unnecessary sacrifice. I unintentionally lost a few bits yesterday.

However, I am not sure is pooljunkie.nl stole or lost them for ever.

http://42.dedicatedpool.com seems to work today.
Even though dedication isn't equal with granted perfection, but they never robbed me and always recovered in reasonable time after they got some hits.

I agree with some of your arguments and I see your points in some others. Some, I can't accept.

No, I just said I already bought a significant amount of 42. You must know, I knew I am buying relatively expensive coins, I didn't wait for duping dips. This means I plan to keep longer.
I said everybody should think in weeks as a minimum, not in days or hours. Even if you want a relatively quick profit from this coin. Nobody should freak out on the real-time price.
Longer plans are even better. Of course.

But I can't agree with you about scaring anybody away from mining.
Mining is the blood pump, the soul, the steam machine in, the moving force behind each and every coin.
If a coin loses network speed, it also looses value.

Sure, for a short time, the eliminations of a lot of miner-dumpers creates positive price fluctuation because the demand will react slower (stays quasi constant for a while) than the supply (almost dies off for some moment instantly). But after that, demand will also drop. -> Miners will react, you loose the last miner-dumpers.
And this is the point where demand is low, you see tons of panic sells. -> price drops even lower -> now you see the last panic sells and a constantly dropping network speed along with a constantly dropping price until you have about 0.0x Gh/s and a lot of zeros on the wrong side of the decimal point in the price because nobody is stupid enough to buy a coin which doesn't have a decent network speed.

As I said, I just saw this happen with my last investment.


BTW, I am also mining this coin 24/7 and I do know it actually has a very bad net profit right now. -> That's why I bought even at current price. Because it's still too low.
But if you kill the network speed, then... God help this coin! And me... because I will loose a lot ... again...
If it ever falls below 1 Gh/s, that's game over. It just won't come back. Not in this environment. People will forget 42 and mine "the next big thing". And the investors will follow the miners. It's very simple.

You need to keep every miners. Get even more attention, gather even more miners! Don't scare them off!


Have you ever checked the network speed of Bitcoin or Litecoin? Do you think those coins have a relatively decent price for 1/maxcoin?
Go and check a coin which is around a relatively long time ago with a low network speed.
What's your conclusion?

Don't even start this here please!

I just sold all of my (let's call it DontWannaTell - you can easily find out from my forum history if you think it's important, but I don't want to make a negative promo) DWT coins for a shitty price to buy some 42 dimes instead in a hope to cover my huge loss on DWT.

As I see, this kind of anti-miner propaganda played a huge role in the current problems of DWT.

Network hash speed and diff must continuously go UP, not down to make profit on a continuously rising price.
You scare of the miners -> networks speed and diff drops -> price falls -> lot of panic sells -> price hits the bottom -> not a single sole wants to mine and/or buy anymore -> another dead coin
It's only a matter of days to achieve this and I doubt there is a way back from there but it sure takes months if it ever happens.

You won't get rich in a few days. But it's possible to get a nice cut in a few weeks if you play nice. I think that's better than getting stuck with a struggling coin for months (and wish to cut your losses every day).

Mine, mine and mine! Everybody! MINE!!!
Mine the coin and buy the coin. Don't ban and/or scare anybody from mining or buying it.

Don't bother about the real-time price, think about the future to make that dream happen!

That usually happens before a certain coin gets listed on a (semi-)trusted exchange. Not after.
It's way more risky and slower (worse in almost any aspects) to trade like that. When you don't have a choice, you might risk it. But not after you have an easier and more secure way to trade, even if that one is also flawed in some aspects.

Yeah. Both stratum servers and the web interface too.
I wonder why I stick with them. They claim to have capable hardware and professional service but it's often crashes while they still collect the professional grade pool fees from miners.
I guess it's because it's still the best. At least they never lost my accont, unlike some other pools...

KK. GG. I initiated a panic sell on Crypty in the moment it appeared.
I would be very happy if I could successfully buy right after Cryptsy opened the gates but the issues messed it up for me.
But it was still fun and I managed to make some BTC out of buying and selling regardless.

What?
There is a coin out there which you couldn't solomine right from the start and now worths a lot ?!?!?
This fact absolutely qualifies it as a scam!
Period!

Let me quote myself.


I guess the road of growing up temporarily crosses the way of DOGE at some point(s) until things settle down from panic to calm state (before the slow and steady growth can begin).
May be not...

I think that the current code is more than good enough for now. May be it's far from perfect. But which coin is perfect? (I guess none, not even BTC, or LTC, or any of them out there at this moment. No coin will ever be perfect, if not only for a short moment and/or in simulations...)

And sure, anybody is free to think about long term future possibilities and even propose hard fork ideas, even right now (ah, well, even I posted my own idea about a diff retarget algorithm).
But I don't think it needs any immediate fix(es). Simply because it is NOT broken!

What we see now is a monotonically falling price and monotonically falling network hash rate combination.
And even if you might think (and/or [want to] believe) otherwise, this meas that the code itself works as intended!
The hash rate and the price are in sync, as they should be. So, no problem there (in the code). At least none I can see right now and would need immediate workarounds or fixes.

So, the coin code is NOT broken, thus it does NOT need a hotfix (long term improvement plans, may be, but not a fix, and definitely not a HOTfix).



If we could agree about this and we could put aside this constant hard fork rushing festival, just for a moment, then we might let ourself see the actual and real problem(s) which effect us directly right now.

And I think that's very simple: It's the marketing.


Please let's not forget that hard fork festivals and constant authority wars definitely will NOT paint a good image!



May be we should agree (with a wide vote or something) about some ground rules like who and when can speak things like * it's official *, so people aren't constantly confused and scared about what might happen in the next moment around CAT coin. (I think it's absolutely understandable if this drives everybody away of the coin. I am constantly scared myself about this, so I do know!)

Everybody needs to calm down, or be calmed down.

And most importantly, we should try to bring back the attention of people to CAT!

We need everybody: every miners (YES, EVERY MINERS, even if you think they try to kill the coin by hopping in and out), every investors (YES, even those who always try to buy the cheapest coins), traders (even if you think they just want to rub you with their deals), people with marketing ideas, and generally anybody who ever liked this coin, or just is about to picks his favorite coin.



I think if we can show that CAT is strong and solid enough again, then both the network hash rate and the price can possibly start to rise.
Day by day, mBTC by mBTC, slowly but steadily.

May be it won't hit 0.001 again in just a few weeks, but I believe it could definitely be on pair with DOGE in profitability and hash rate (yes, you know, those things come together or neither is possible) during a relatively short period if time. And that will be a good enough state. A peaceful time to think and plan the long term future which might eventually rise this coin above DOGE and the like. But if nothing else, CAT will survive.



I don't think I can say anymore about how I see this coin now.
(And for that matter, I don't think I should be the one to try and post "speeches" like this because English is not my native language and I am relatively new in this whole game.)
And I want to make it clear that these are only my subjective opinions and they are far from being something like "official" or anything.
And I won't fight for anything, so don't point your guns and knives to my throat just yet. LOL. I am ready loose the full amount of BTC I invested into CAT. I just hope (and wish) it won't come to that.


By the way, may be I will launch a new coin a few days from now, only with a single purpose: to show how a coin with a micromanaged difficulty retarget and bad marketing might fail on the market after a HUGE initial hype (I think I have the recipe for that). LOL.

Any chance of an algorithm which uses the temperature regulator module's idle time of my automated espresso machine to mine coffee bean coins? Would Saeco rock in that?
Oh, and before I forget. I also have a toaster! They were supposedly very smart in Battlestar Galactica. I wonder how smart my toster is when put into mining!
LOL. This thread was the best joke I read today.

The 42.pooljunkie.nl dashboard shows almost the same number for the pool and network hash rates.
Is this true? Is this pool the entire network?

I don't seem to have this restriction, but I couldn't actually buy a single piece of [42] yet. I tried to purchase a small amount well above the realtime selling price, but the order just hanged there. So I waited, waited, and waited... Then somebody bids with an even higher price, so I can cancel my order and try again.
I repeated this a few times and the market history indicates that there were very few actual transactions.

Next clue:

Chief: Remember Arbiter?
Chief: LOL rememer?
Arbiter: Yes Cheif, I remember.

I wonder how other altcoins, for example ANC survived these stages and got resurrected later: http://www.cryptocoincharts.info/v2/pair/anc/btc/cryptsy/1-year
I am not here a long ago, so I couldn't observe things like that.
This was my template when I bought more CAT instead of selling all. It took months, and this whole scrypt game might won't continue that long from now, but think about it...

Either.

It seems like a Scrypt ASIC is not just real, but it's also very close to get mass produced and actually put into work in massive numbers. So, GPU miners (probably still well over 90% of the total scrypt hash speed right now) need to squeeze out as much profit from GPU mining as possible. They can't afford to think in months anymore, they need to constantly switch to the coin which gives them the most BTC in the next X minutes because they can never know when an ASIC farm might completely take them out of business.

I haven't reached my RTI point yet, mostly because I invested into CAT. So, I am an actual example that it's very risky to plan further than a single day. (I said RISKY, not the I completely lost my hope in CAT!)

On the other hand, you might make a lot more profit if you are still willing to take your chances and think in months (instead of joining a multipool, or always mine the latest coin which is the best profitable for a day and then dies tomorow).

Hah. Well, I have several thousands. Do YOU want to buy from ME at 0.0007? LOL.
Hold on and see what happens! You can't really loose a lot more if the coin dies. But you might have a chance to make a profit after all. Even if it takes months.