[ANN] Catcoin - Scrypt meow!

[kisa2005]

Kuro, I was actually thinking of something less technical/academic for YouTube, something more playful that an average cat-loving grandma can understand.  

For sure, intro into mining and stuff would be interesting for more advanced users! But first we just need widespread distribution of cat wallets with some CATs in them for wider population.

Not sure if I am the correct person to give requirements for a YouTube presentation, just had this idea. Maybe some guys on the thread can give their views?

Also please check if those wallet issues have been resolved already.

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[OrkneyCoiner]

Don't dump your coins until CAT hits at least coinedup. Cause if CAT will be there, I expect at least 1 btc per 500 CAT. I'll explain you why: difficulty increases and at current diff, mined coins are worth less than same mined amount of DOGE and other coins...

it looks like that the next diff will reach us at about 160 hours(!)

so we're stuck with diff 64 for a week or so  

btw: I'm still mining and will do that.

[kuroman]

Kisa sure that fine with me aswell, I'll try to make something shirt and simple, once I get a first draft I'll post it, to see if it is the going in the right direction

[Alikondr]

[foodies123]

bamp for cat master race.

[kalus]

Don't dump your coins until CAT hits at least coinedup. Cause if CAT will be there, I expect at least 1 btc per 500 CAT. I'll explain you why: difficulty increases and at current diff, mined coins are worth less than same mined amount of DOGE and other coins...

so why does difficulty = money?

i could make a coin 100x as difficult as catcoin.  does that make it 100x as valuable?  why not make a coin 1,000,000x as difficult?

[kr105]

Bounty of the splash screen image paid to itsallpc.
http://catchain.info/tx/bf1f818b77548bdc449445c72d6424cb2f504057c8a1248cbb940fe41956dd5e

[Nullu]

Don't dump your coins until CAT hits at least coinedup. Cause if CAT will be there, I expect at least 1 btc per 500 CAT. I'll explain you why: difficulty increases and at current diff, mined coins are worth less than same mined amount of DOGE and other coins...

so why does difficulty = money?

i could make a coin 100x as difficult as catcoin.  does that make it 100x as valuable?  why not make a coin 1,000,000x as difficult?

A coin has to build up momentum. Early adopters have coins to sell which drums up trade. Trade then drums up more miners, and more miners drum up more trade. You can't have one without the other.

[Nullu]

Bounty of the splash screen image paid to itsallpc.
http://catchain.info/tx/bf1f818b77548bdc449445c72d6424cb2f504057c8a1248cbb940fe41956dd5e

The giveaway thread that requires you promote Cat Coin on Cryptsy will be up later on this evening. I believe I can make a compelling argument. I think I'll make the tone a little more serious and rational than other giveaways. People need to realise Cat Coin is also a potential investment.

[coa032]

Selling 23 Catcoin for 100WDC or 2,5LTC. Escrow or you send first

[strelok369]

so we're stuck with diff 64 for a week or so  

   Yes, next diff is 100, if hashrate will fall now there is nothing bad with it, but if hashrate
will fall twice since the start(or around) of diff 100, we will have 28days diff update
with blocktime 20mins in best case(if hashrate will stabilise at half of start of diff 100).
In the realistic case we can get the deth of coin (see my post about starting crysis).
This will not be now, not tomorrow, even not at recalc to diff 100, but we need now
to decide what to do in this case. The solution is temprory shut down big pools if est.
diff before recalc(100 blocks must be enought) will be too hight.

   If CAT hit exchange, it needs little slowly growth trading amounts (including early adopters)
to not collapse the market. The exchange rate must as stable as it can or it will be end.
Overjumping of exchange rate will lead to collapse. We need stable (it doesn't mention
hight or not very low) exchange rate and slow stable growth. Catcoin is slow currency(like BTC),
not doge. Doge was made to and ready for early start of exchange.

[kalus]

Don't dump your coins until CAT hits at least coinedup. Cause if CAT will be there, I expect at least 1 btc per 500 CAT. I'll explain you why: difficulty increases and at current diff, mined coins are worth less than same mined amount of DOGE and other coins...

so why does difficulty = money?

i could make a coin 100x as difficult as catcoin.  does that make it 100x as valuable?  why not make a coin 1,000,000x as difficult?

A coin has to build up momentum. Early adopters have coins to sell which drums up trade. Trade then drums up more miners, and more miners drum up more trade. You can't have one without the other.

ok, so i just wanted to break the mythology that difficulty of mining has anything to do with price.  cloudpost was expecting 1btc=500cat based on difficulty alone. 

just becuase it's difficult for the miner to make, doesn't mean the buyer cares about the difficulty.  

[drizzle2405]

If you based CATcoin value on DOGEcoin current value, you would get the following:

Current CATcoins: 933,600

Current DOGEcoin market cap: $7,932,832

Price per CATcoin: $8.50 per coin

Wow, not saying that would happen right now, but just showing perspective...

[Amph]

If you based CATcoin value on DOGEcoin current value, you would get the following:

Current CATcoins: 933,600

Current DOGEcoin market cap: $7,932,832

Price per CATcoin: $8.50 per coin

Wow, not saying that would happen right now, but just showing perspective...

price don't work like that lol, it is only based on demand, nothing else

[drizzle2405]

If you based CATcoin value on DOGEcoin current value, you would get the following:

Current CATcoins: 933,600

Current DOGEcoin market cap: $7,932,832

Price per CATcoin: $8.50 per coin

Wow, not saying that would happen right now, but just showing perspective...

price don't work like that lol, it is only based on demand, nothing else

Like all else in life.  Something is only worth what someone is willing to pay for it.  Yea I get it.  Just fun messing with numbers!!!

[OBrien]

If the seller thinks its worth more, he wont sell.

[tuchkov]

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[IchibahnSLC]

Spreadsheet updated! Please OP add this to the your post!
https://docs.google.com/spreadsheet/ccc?key=0Aq3MJmtaxplUdEZtVHc0OFk5c25ZaTlocjJacGhfS1E#gid=0

[strelok369]

    buyer cares about the difficulty. 

    If there will no fullness of early adopters or (peoples with reserve). Difficulty will cares all of miners. And asking price goes hight.
If it will no external pressure (collusion of buyers) and if buyer wants to buy this coin and not another, he will used to buy around asking price.

    You can mine 0.23LTC/24hours with one ATI videocard. You can mine 5.5cats a day with same videocard on diff 64, but you can mine
nothing(pools unstable). Calculate, what price can move miners from LTC or doges and how it must growth due to diff recalc to keep them mining CATs.

[kalus]

   doesn't mean the buyer cares about the difficulty. 

    If there will no fullness of early adopters or (peoples with reserve). Difficulty will cares all of miners. And asking price goes hight.
If it will no external pressure (collusion of buyers) and if buyer wants to buy this coin and not another, he will used to buy around asking price.

You quoted me out of context.  i fixed it.

And difficulty is the miner's problem, not the buyer's.  Just because something is rare, doesn't mean it's valuable.  if you've ever traded in antiques or baseball cards, you'd know exactly what i'm talking about. 

the buyer will not look at a coin 1000x more difficult than ltc and pay 1000x more.  they care what the market cap is, and that translates to btc:CAT.  nothing else matters.

don't worry about a collusion of buyers:  there isn't that much cat interest.  be much more worried about the collusion of cat miners that have most of the money.  about 99% of catcoin owners/miners won't make any money.  

   You can mine 0.23LTC/24hours with one ATI videocard. You can mine 5.5cats a day with same videocard on diff 64, but you can mine
nothing(pools unstable). Calculate, what price can move miners from LTC or doges and how it must growth due to diff recalc to keep them mining CATs.

why not mine LTC?  at least you're guaranteed an exchange rate, and get liquidate LTC in real time on multiple exchanges.

a bird in the hand and all.