[ANN] Catcoin - Scrypt meow!

[zakord]

So someone increased price this way or what?

[1715167221]

1715167221

[Nullu]

So someone increased price this way or what?

Someone with a lot of coins keeps pumping and dumping.

[Last1212]

Cryptsy should add a delay if user post more than 3 offers in sequence for a small period of time.

[Nullu]

Cryptsy should add a delay if user post more than 3 offers in sequence for a small period of time.

Cryptsy doesn't care. It still profits from the trades. It has no financial motivation to prevent it. They get away with it because people don't recognise the buy/sell patterns, they're buying blind.

[Last1212]

Cryptsy should add a delay if user post more than 3 offers in sequence for a small period of time.

Cryptsy doesn't care. It still profits from the trades. It has no financial motivation to prevent it. They get away with it because people don't recognise the buy/sell patterns, they're buying blind.

Hope that soon we get more exchanges. Monopolists can do what they want

[Nullu]

Cryptsy should add a delay if user post more than 3 offers in sequence for a small period of time.

Cryptsy doesn't care. It still profits from the trades. It has no financial motivation to prevent it. They get away with it because people don't recognise the buy/sell patterns, they're buying blind.

Hope that soon we get more exchanges. Monopolists can do what they want

Altcoins end up so quickly on exchanges now. Because it's basically a Scrypt version of Bitcoin it's a profitable coin to do this to. The only way around it is for more people to be mining/buying Catcoin.

[johnny_non]

So someone increased price this way or what?

that does the opposite it pushes the price down
look at the numbers on the *left top under price you buy from the top down after you buy they post a price lower than you just paid to the top putting you on a treadmill

[zakord]

but the price increased a little, didnt it?

[Nullu]

I think I can see what he's doing now. Putting lots of small sell bids at lower and lower prices to give the impression that the coin is worth less, while at the same time putting in a lot small buy bids above this price tempting people to sell their coins. Possibly has a buy wall set up right underneath to catch all the weak hands.

[etblvu1]

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.

[johnny_non]

I think I can see what he's doing now. Putting lots of small sell bids at lower and lower prices to give the impression that the coin is worth less, while at the same time putting in a lot small buy bids above this price tempting people to sell their coins. Possibly has a buy wall set up right underneath to catch all the weak hands.

that and trying to trick you to run in thinking you're chasing a higher value but making the value lower every time you buy. it frustrates the buyers
he's a troll, there is more to it than that though...

[dotnetmin]

hey , come back mining CAT even if it is more comfortable to mine doge and buy CAT.

I am @ cat.poolerino.com  throwing my 2.1 Mh/s -  Support our CAT

[Nullu]

I think I can see what he's doing now. Putting lots of small sell bids at lower and lower prices to give the impression that the coin is worth less, while at the same time putting in a lot small buy bids above this price tempting people to sell their coins. Possibly has a buy wall set up right underneath to catch all the weak hands.

that and trying to trick you to run in thinking you're chasing a higher value but making the value lower every time you buy. it frustrates the buyers
he's a troll, there is more to than that though...

Yeah, if you don't look at the volumes it does give a false impression.

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.

Now that you mention it, coding a trap like that wouldn't be all too difficult. There are probably a few equally possible ways to counteract act it using an algorithm.

I'll be interested if anyone has any strategic suggestions that could counteract such behaviour to manipulate the Cat market. Please let me know.

[Mikellev]

Well what grinds my gears is the lack of professional support from the coin dev.
Ok he got problems, got robbed or something, I true understand but: I would never release a coin as a one man show.

The 1. Post is still not edited with newest informations, plans, same pools (ours missing).

If you want to release a alt-coin these days, you really have to push hard and dont let the community do all the work. Its a fulltime job.

just my 5 cent.

@dotnetmin, thanks for mining with us - keep up the good work.

btw: http://cat.poolerino.com has 0% Fee + 60 confirmations only

[etblvu1]

that and trying to trick you to run in thinking you're chasing a higher value but making the value lower every time you buy. it frustrates the buyers
he's a troll, there is more to it than that though...

You can counteract this pretty easily as a market participant, by 1) buying up the lots of tiny sell units, all in one fell swoop (just click on the highest priced of the small sell offers and Cryptsy automatically computes how much the total costs); and 2) Moving any "buy" offers you have, up above the heap of small offers. A lot of participants seem to be already doing this, but the more people who utilize these two strategies, the more it counteracts this annoyance.

[mavis369]

Just bought 42 more, I now have 553 cat. My small purchases wont change the price of cat, but every little helps??

[Nullu]

that and trying to trick you to run in thinking you're chasing a higher value but making the value lower every time you buy. it frustrates the buyers
he's a troll, there is more to it than that though...

You can counteract this pretty easily as a market participant, by 1) buying up the lots of tiny sell units, all in one fell swoop (just click on the highest priced of the small sell offers and Cryptsy automatically computes how much the total costs); and 2) Moving any "buy" offers you have, up above the heap of small offers. A lot of participants seem to be already doing this, but the more people who utilize these two strategies, the more it counteracts this annoyance.

tagged

Thanks. I'll look into it.

Just bought 42 more, I now have 553 cat. My small purchases wont change the price of cat, but every little helps??

The more people invested in cat, and the less big hands holding Cat the better. It's the big hands manipulating the pricing that's doing harm.

[FanEagle]

I'm waiting to gamble my 30 cats, I wanna become catmilionaire

[skillface]

Well I did pretty well today with the price crash. Went from an initial 106 CAT up to 123 CAT. Not a bad day of trading if I do say so myself.

I wish Cryptsy would do something about all these 1CAT buy/sell orders though. It's blatantly obvious market manipulation/trolling. Of course they won't, since there is no money in it.

I just hope the network hash rate gets back up to around 1GH/s or so sometime soon. Transaction times are horrendous at the moment. My pitiful 300KH/s isn't going to help with that much though.

[TheTribesman]

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.