[ANN] Catcoin - Scrypt meow!

[jochem]

http://cat.luckyminers.com is still there and WON'T shut down!

[1715203773]

1715203773

[1715203773]

1715203773

[dotnetmin]

If there is no mining, there will also no trading be possible becuase of getting no confirms transactions need !

Come back mine CAT and don´t only see proftabilt of your shit rig

Well trading will always be possible as long as you already have CAT on an exchange like Cryptsy. It's the movement of newly minted coins to exchanges that's going to be difficult.

If volume is increasing yet supply is drying up at this rate, the price normally would have already skyrocketed, if it weren't for the rampant price manipulation.

Nice you trust craptsy !!! I would never stay my coins there if i not want to trade them, not @ craptsy and even not btc-e

[Nullu]

We may have our first faucet;

https://bitcointalk.org/index.php?topic=394166.new#new

DO NOT use it yet. It doesn't look like it's functional yet. If it confirms to be working and paying out, and the payouts are fair, I will donate some Cat to get it started.

[skillface]

If there is no mining, there will also no trading be possible becuase of getting no confirms transactions need !

Come back mine CAT and don´t only see proftabilt of your shit rig

Well trading will always be possible as long as you already have CAT on an exchange like Cryptsy. It's the movement of newly minted coins to exchanges that's going to be difficult.

If volume is increasing yet supply is drying up at this rate, the price normally would have already skyrocketed, if it weren't for the rampant price manipulation.

Nice you trust craptsy !!! I would never stay my coins there if i not want to trade them, not @ craptsy and even not btc-e

I never said I trusted Cryptsy. It was just an example, it applies to any exchange.

[YoyodyneSystems]

If there is no mining, there will also no trading be possible becuase of getting no confirms transactions need !

Come back mine CAT and don´t only see proftabilt of your shit rig

As soon as miner's see no one mining they will rush in for the easy coins.
You guys need to chill a tad. I moved my coins just fine.

[bcrypto]

I feel like everyone is just watching cryptsy price and trading cat already mined and in cryptsy's system, thus they are missing this.
There is a severe problem.

Right now the network hashrate is 0.395GH/s, which is EXTREMELY low. For some reason, it seems lots of people are dropping off mining, either be it that a multipool was mining this currency and converting it to btc and has moved on to a different coin, or people have just moved on in general. This is causing severe blockchain stagnation as the 10 minute block time has caused the difficulty to rise to 173 when the network rate was 2GH/s.

Blocks now seem to be happening every hour if we are lucky

 http://catchain.info/chain/Catcoin

According to this, during blocks 20240-20251, about 12 hours passed, in the way this coin is supposed to work, at a 10 minute block time, that should have taken 110 minutes to make those blocks.
If you didn't know by the way, 6 confirms are needed to make a transaction, thus at ~12 hours to move to confirmed this is pretty nuts.

The block difficulty adjust is not going to happen for another 1925 blocks.. or according to current block time, 1925 hours, 1925/24 hours =
80 days before difficulty adjust
yeah, and that is not being very exaggerated.

This coin is going to fall apart if we don't get more hash rate soon, or if we are waiting for the difficulty adjust, everyone may have moved on.

Either the difficulty adjust needs to be fixed by the developer to not be by block amount, but rather by time, or this coin is going to have problems.

Votes need to happen on what needs to go on with this, either difficulty algorithm change, block time change, or figure out how to get those multipools back to mining.

Can the developer actually adjust the difficulty?

[Nullu]

This was discussed 10 or 15 pages back. It's called a Hard Fork, and it could pretty much destroy the coin. It would also remove what makes this coin appealing to begin with; a Scrypt version of Bitcoin. It's exactly because of the way the coin is designed that it is currently in the position it is in, however it is quite possible it will come out of this as an extremely strong coin.

What we don't need is all the FUD going on. Yes, the coin is going through a major phase, but panicking is just going to make people sell their coins below their value.

We don't need panic. We can't change the coin now. Sensible and rational debate, as well as promotion and continuing to support the growth of Catcoin is in order. This thread has shown that this altcoin is a cut above the 99%. Lets not run around like headless chickens at the first sign of a dip. All coins go through phases.

[bcrypto]

This was discussed 10 or 15 pages back. It's called a Hard Fork, and it could pretty much destroy the coin. It would also remove what makes this coin appealing to begin with; a Scrypt version of Bitcoin. It's exactly because of the way the coin is designed that it is currently in the position it is in, however it is quite possible it will come out of this as an extremely strong coin.

What we don't need is all the FUD going on. Yes, the coin is going through a major phase, but panicking is just going to make people sell their coins below their value.

We don't need panic. We can't change the coin now. Sensible and rational debate, as well as promotion and continuing to support the growth of Catcoin is in order. This thread has shown that this altcoin is a cut above the 99%. Lets not run around like headless chickens at the first sign of a dip. All coins go through phases.

Good call

[Nullu]

Things are going well. If the coin was really in trouble we wouldn't have the activity and interest we have. Once the dev gets back on track we'll be cooking.

- We've got a casino site that may be using Catcoin in just a few days.
- A faucet has finally emerged.
- There's an online wallet and being developed
- The coin is on 3 exchanges
- Multiple bounties for further development of services
- Several key contributors in the community
- Strong and unique coin - Scrypt version of Bitcoin
- High Volume of trading
- Scarcity
- Popular
- Fantastic coin name

This coin has 100 times more things going for it than it has against it. I think you have to take it all in context.

The reason it's where it is now is because most altcoins are just pump and dump instamines. This isn't one of those coins. It's a long term coin. That's why it's where it is. It's far more profitable in the short term to coin jump every time a new crapcoin is released. Catcoin is designed to have a longterm future as a cryptocurrency. Whether that design was intentional or not I don't know, but either way It's on a lot more solid footing than 99% of the altcoins out there.

[CatCoinForums]

Yes i agree, still alot of catcoins coming forward to be sold, the panic sellers are still selling. Once they are out the way and there is some stability then we can see the true catcoin start to grow. We are now in the new year with a new coin, alot will start happening over the coming days/ weeks. Im holding my catcoins as i believe this coin is unique, and believe its going to go far.

[Nullu]

Yes i agree, still alot of catcoins coming forward to be sold, the panic sellers are still selling. Once they are out the way and there is some stability then we can see the true catcoin start to grow. We are now in the new year with a new coin, alot will start happening over the coming days/ weeks. Im holding my catcoins as i believe this coin is unique, and believe its going to go far.

I hope you are holding them, You have quite a few coins, my friend. 

[dotnetmin]

only 1000 CAT which is less than 1 BTC is 1/1000 of supply.
so hopefully early miners have dumped their coins soon for a quick profit

[Nullu]

only 1000 CAT which is less than 1 BTC is 1/1000 of supply.
so hopefully early miners have dumped their coins soon for a quick profit

Judging by the behaviour on Cryptsy there are still some players with a lot of CAT trying to manipulate the market.

[ZBBBB]

My major question is, aren't we going to keep doing this over and over again if the code isn't fixed? In 2 months from now at this pace, when the difficulty drops, the coin will be worth whatever, but it will still be valuable at that difficulty, the pump and dumpers will come back, drive it back up to 2.5ghz, difficulty will sky rocket, and we will be back in the same place. I have 5mh/s but it is so hard to point it at cat....at this pace I could mine lot, sell it all for cat, and get 5x as much cat as I would if I just mine it straight up. I am loyal and dedicated, but there is no incentive to keep mining it really when people are going to blow it up again. I mean it just sucks with this horrible retarget, people will keep doing this over and over again if the coin is worth anything, and it crushes the small guys that are dedicated and didn't get thousands of coins on release (stupid family christmas party). I have invested a few btc and mined it as soon as I heard of it, but I don't know about the future and this crazy difficulty.

[Nullu]

My major question is, aren't we going to keep doing this over and over again if the code isn't fixed? In 2 months from now at this pace, when the difficulty drops, the coin will be worth whatever, but it will still be valuable at that difficulty, the pump and dumpers will come back, drive it back up to 2.5ghz, difficulty will sky rocket, and we will be back in the same place. I have 5mh/s but it is so hard to point it at cat....at this pace I could mine lot, sell it all for cat, and get 5x as much cat as I would if I just mine it straight up. I am loyal and dedicated, but there is no incentive to keep mining it really when people are going to blow it up again. I mean it just sucks with this horrible retarget, people will keep doing this over and over again if the coin is worth anything, and it crushes the small guys that are dedicated and didn't get thousands of coins on release (stupid family christmas party). I have invested a few btc and mined it as soon as I heard of it, but I don't know about the future and this crazy difficulty.

You're assuming the code is broken. It isn't. What's preventing the miners being all over this right now is the profitability, and what's preventing the profitability is the early miners who still hold a lot of coins. A lot of miners use multipools which automatically mine the most profitable coin. Because of those early miners on the coin exchanges holding down the market price, the coin's value is lower than it should be. Once the value goes back up, the profitability goes back up, and so the hashpower returns. The market manipulators can't keep it up indefinitely.

There is no inherent flaw with the coin. It's a Scrypt version of Bitcoin. The coin is brilliant and should never be changed. It's the behaviour of pump and dumpers that has put the coin in this phase. It is just a phase. As I've said and will say again, all coins go through phases, and FUD (Fear, uncertainty and doubt) is more harmful than anything else.

All coins go through ups and downs. This is a historical fact. The coin isn't even 2 weeks old yet.

[dzsudzsu7]

My major question is, aren't we going to keep doing this over and over again if the code isn't fixed? In 2 months from now at this pace, when the difficulty drops, the coin will be worth whatever, but it will still be valuable at that difficulty, the pump and dumpers will come back, drive it back up to 2.5ghz, difficulty will sky rocket, and we will be back in the same place. I have 5mh/s but it is so hard to point it at cat....at this pace I could mine lot, sell it all for cat, and get 5x as much cat as I would if I just mine it straight up. I am loyal and dedicated, but there is no incentive to keep mining it really when people are going to blow it up again. I mean it just sucks with this horrible retarget, people will keep doing this over and over again if the coin is worth anything, and it crushes the small guys that are dedicated and didn't get thousands of coins on release (stupid family christmas party). I have invested a few btc and mined it as soon as I heard of it, but I don't know about the future and this crazy difficulty.

Write a PM to etblvu1.He is having a giveaway for miners who mine cat instead of other coin.5 cat for your 5 mhash.

[CatCoinForums]

http://www.dcmagnates.com/dogecoin-prices-down-passing-fad-or-is-it-the-rise-of-catcoin/

[fredeq]

nullu and what would be wrong if the coin would retarget difficulty every 1008 or 504 blocks? You just admit that the code is not adapted to the current altcoin situation in the miner world.

[Mortimer452]

I agree that CAT is a better long-term investment that the normal pump-dump altcoins.  My biggest concern with this coin is whether or not the community support can continue long enough.

There was so much support, so much hype in the week after launch, I kinda got the feeling everyone was sure this was going to be the next DOGE.  Everyone was expecting 1,000%+ gains in the first few days of trading.

Instead, it found a shitload of competition from EAC, LOT and others which showed up on exchanges about the same time, and got beat out by those pretty bad.  Trading volume isn't exactly low but isn't exactly through the roof.  And tying the price to DOGE on CoinedUp, which is still trading at easily 3-4x the volume of CAT, isn't helping either.

So, with this difficulty adjustment issue looming over us, we may be looking at 2-3 months before CAT becomes profitable for mining again, maybe that long before the price adjusts much above current levels.  With as fickle as the AltCoin markets are, and as fickle as the AltCoin community is in general, can support/promotion of CAT continue for that long?

[Nullu]

nullu and what would be wrong if the coin would retarget difficulty every 1008 or 504 blocks? You just admit that the code is not adapted to the current altcoin situation in the miner world.

No, what I'm saying is it will take longer to adapt, because it is a new coin, and the early coin holders, relative to the amount of coins being produced, is disproportionate. Over time as their share of coins decrease to the amount of coins in circulation, the value will increase. This is the Scrypt version of Bitcoin in a world of crap coins.