[ANN] Catcoin - Scrypt meow!

[janos666]

By the way. Who placed that 0.006 spike on the Cryptsy graph? (And I coul also ask why Cryptsy's graph plotter doesn't automatically ignore these?)

Is anyone panicing yet?

[1715201584]

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[johnny_non]

part of me hopes that there is some multi millionaire out there treating this like pokemon and has to catch them all...
not that i want all of these coins in any one pocket

[janos666]

Prices and volumes seem to start moving!

[tx42]

Catcoin has such excellent fundamentals, it will be a success. Catcoins have been cheap all day.

[Last1212]

Here we go
https://bitcointalk.org/index.php?topic=394114.0

[aTriz]

We really need to see if just-dice / doge-dice will also add cat-dice that would be huge for the coin.

I suggest people go there and suggest it

[johnny_non]

cool news for everybody
http://www.coindesk.com/lamassu-announces-100th-bitcoin-atm/?utm_content=buffer793d4&utm_source=buffer&utm_medium=twitter&utm_campaign=Buffer

[uozer]

Coins are different from the stock market in that there is a projected future cash flow from ownership in shares of companies. Coins are purely a speculative vehicle and thus "corrections" that occur when a stock crashes due to its price way exceeding the fundamental value of the company can not happen in this market. If people truely "believe" that CAT is worth any amount, it will be worth that amount here, there is no cash flow to be concerned about, it's just pure supply demand. Thus "manipulations" don't always lead to a "correction" since once the price goes up, if most people accept that price as the new "correct" price then it is in fact the correct price and there is nothing that they can prove them otherwise. Added to the fact that all these coins have super low market caps and a lot of whales moving in and out and playing the daytrading game means that you can't confidently say price reflect market sentiment even. It's what makes coin investing so risky and fun as well as lucrative.

tl;dr Coins have no cash flows attached to them, thus price doesn't tell you anything about the "value" of the coin at any given time.

That makes it really hard to speculate whether the coin will increase or decrease in value. Do the stock charts bear any indications similar to stock exchange charts?

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.

Have a chance again The coin is one of the top coins in the world now. In just a week.
I think you are trying to crash the price to buy back in.

agreed, confirmation times are annoyingly long.

[skillface]

At this rate it's going to take almost 4 full weeks for the difficulty to even decrease, since it currently takes nearly 20 minutes per block and will likely keep rising.

The extreme price manipulation on Cryptsy certainly isn't helping either (if whoever it is that has those huge 2500+ CAT orders actually allowed prices to rise up so that mining CAT would be somewhat profitable again, we wouldn't be in such a dire situation).

[johnny_non]

At this rate it's going to take almost 4 full weeks for the difficulty to even decrease, since it currently takes nearly 20 minutes per block and will likely keep rising.

The extreme price manipulation on Cryptsy certainly isn't helping either (if whoever it is that has those huge 2500+ CAT orders actually allowed prices to rise up so that mining CAT would be somewhat profitable again, we wouldn't be in such a dire situation).

just keep digging, hopefully cryptsy will implement a system after analyzing cats day of trade that limits the way people are allowed to place orders
because that type of manipulation isn't good for the crypto markets, or their business either...

[johnny_non]

[RickJamesBTC]

At this rate it's going to take almost 4 full weeks for the difficulty to even decrease, since it currently takes nearly 20 minutes per block and will likely keep rising.

The extreme price manipulation on Cryptsy certainly isn't helping either (if whoever it is that has those huge 2500+ CAT orders actually allowed prices to rise up so that mining CAT would be somewhat profitable again, we wouldn't be in such a dire situation).

just keep digging, hopefully cryptsy will implement a system after analyzing cats day of trade that limits the way people are allowed to place orders
because that type of manipulation isn't good for the crypto markets, or their business either...

No, they won't. The orders stick because nobody wants enough  of this coin to make a dent in it. The price wouldn't go up, there is no volume in it. If there were people sitting around waiting to buy cat I have yet to hear from them. I could join one of the major pools and be like half the hash rate. Where is the interest? 600mh net? Pfft.

[trankil]

i just discover this currency

9jeWdn5Ejw9Z99XQqW7UAf4nNnPUWjRuC9

thanks

[nov]

Wanted to ask, would you be interested in MultiCoin - light way multiple coins cross-platform wallet app?
https://bitcointalk.org/index.php?topic=394311.0

[johnny_non]

i just discover this currency

9jeWdn5Ejw9Z99XQqW7UAf4nNnPUWjRuC9

thanks

welcome

[brooklynite]

i just discover this currency

9jeWdn5Ejw9Z99XQqW7UAf4nNnPUWjRuC9

thanks

Me too is it too late to get in now and start mining? I dont even know the exchange rate, is it on any exchange?

[hammerbrain]

[strelok369]

I dont even know the exchange rate, is it on any exchange?

   See first post. It's scrypt version of bitcoin actually.
If it live trough now it might be a blast. Buying it?
Try to mine it, even on the coffe-machine who knows
what happens...

[Bitye West]

From the OP:

Bounties
Giveaways: Current bounty amount 10 CAT, donation address: 9XBm7syoEvS4Hz4mYTJYh4wPs1TZSNsPAU

Donations to Catcoin development: 9p14KjgEPrRMHGdcfc5QpoeDaN4yQjWXm8

Checked the donation addresses on catchain.info.  A mere 10 CAT in the giveaway bounty wallet and 231.14203761 CAT in the development wallet.

This coin will take off if every single Catcoiner donates at least 1% of their CAT to help with development and bounties.

I'm hoping to start the trend by donating 1% of my CAT (40 CAT) to the giveaway bounty wallet.  

Please everyone do the same.

Donating 1% of your CAT won't make a dent in your balance at all, but it will make the remaining 99% of your CAT take off in value.

[suchjordon]

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