[ANN] Catcoin - Scrypt meow!

[BroTroxer]

Unless the community acts now and bails this coin out instead of discussing what values it should be at, enjoy your trip to the bottom.

+1 agree, but it's tragicomedy how we're contemplating a bailout for this coin.  i guess catcoin is "too big to fail" now!

Exactly like the titanic? 

[1714711167]

1714711167

[1714711167]

1714711167

[Nullu]

Well, I'm sticking with Catcoin now. I still believe in it. This bump will be overcome, and prices will rise again.

[kalus]

Unless the community acts now and bails this coin out instead of discussing what values it should be at, enjoy your trip to the bottom.

+1 agree, but it's tragicomedy how we're contemplating a bailout for this coin.  i guess catcoin is "too big to fail" now!

Exactly like the titanic? 

more like the HINDENBURG!

[kaene]

The following is why short of someone seriously manipulating the prices upward, CATcoin will continue its death spiral. There are many die hard optimists in this thread who don't use logic and invest purely based on emotion or some arbitrary libertarian ideal. Those people will say things along the lines of "The difficulty retarget and block times are perfect because it's the same as bitcoin" or "CAT is an alternative to bitcoin which is more decentralized and combats the increasing levels of bitcoin regulation by governments". In reality, however, CAT is not operating under the same environment as BTC and treating them the same is a mistake:
......
In the past I have indicated that the only way to save CAT is a hard fork which decreases block times to 1 minute and changes difficulty retarget to roughly once every 24 hrs. This was received poorly by the community. Perhaps the community will be more willing to consider it once it takes 1-2hrs average for a block and the price is at 0.0002. Maybe then I'd be willing to reinvest in CAT again.

+1  agreed.  

however, a proposal to hard-fork the currency after a week of mining and trading?  that will trash remaining confidence in the coin, and people will move on to this week's meme (i guess it's cagecoin).

as long as cat remains one of the least profitable coins to mine, i cannot justify spending resources to prop it up.  right now i can mine doge, and trade it for 3x cat in USD everyday.  

Why people think a fork will make investors lose confidence? If something it shows the engagement of a serious dev team that understand the coin needs a change from the initial idea. Memorycoin 2.0 had a fork because of this same reason, the dev didn't take longer than a day to understand that the future of the coin was unclear without the fork, so they did it and people just got more confident seeing a dev taking care of the coin.

Hardfork may throw coin out of exchanges.

Why? Did anyone ask them?


We need a fork, this coin doesn't have enough popularity to survive ... 2 yeras?  until the next difficulty change, and there are too many other coins competing. With a fork, everyone updates their wallet, we keep the coins we already have, in a day we can mine again and the coin won't take longer than 3 days to recover its real price and popularity. Only have to change the difficulty re-targeting to something more realistic, every few blocks.

To everyone talking about the price this coin should have, it's not about difficulty, it's about offer and demand, and with so many other coins the investors just don't want to risk, they need to see that the dev decides to fix the coin, it's that simple.

[dotnetmin]

You are talking about not enough mining will let cat die because it´s not proftitable.
Is it long time profitable for a cow to melk it until milk is empty and cow dies like DOGE now.
Alt coins should only be done to make a profit for miners pump and dump game.
Do you think we all are stupid playing slave for big miners who only care about their own
profibilty. How should any coin have a future only being food for big miners mining and selling against
BTC or quick $ profit. No future without invest. I now invest mining power against profibility in $
If cat will sink i sink with it and with me my 1.5K cats.

[kaene]

It clearly needs a hard fork. With the current hashrate (which will probably continue to decrease), it would be more than 2 years before the next difficulty adjustment. This will simply kill this coin.

What happens after a hard fork

After a hard fork cryptsy and possibly coinedup will automatically delist the coin due to their automated systems detecting the change. It will be chaos after some time. At that point it really depends on whether the community can come together and pull Catcoin back. If it becomes fractured with some people irrationally insisting on bitcoin specs despite it being very obvious that's not feasible in the current environment then the coin will collapse in on itself. However, if the community redoubles its efforts and gets behind the new difficulty retargets and block times it can get relisted eventually and the coin can really have a chance.

I want to emphasize to everyone: The advantage CAT has to DOGE is that it has less coins, thereby not inflating the market. The number of coins is good and should be retained. There is absolutely NO reason why a longer block time and a longer difficulty retargeting time is advantageous for any crypto.

1 minute block times with 5 coins per block
1440 blocks per retarget

Then CAT will really be a competitive coin and its appeal will really be marketable.

What about asking cryptsy, coinedup and coinex to just update their wallets as well? I believe it's rather simple...

[vondi1122]

so it would be possible to change the rearrangement of difficulty at lets say 500 blocks instead of 2000? how is this even possible?

[etblvu1]

To keep things in perspective, some posting here make it sound like CAT is the only coin to be losing value in relation to BTC. Not long ago, DOGE was trading at .00000150, then it was at .00000100, then it was at .00000070, and just yesterday it was at .0000055. Now, it's trading at .0000045. If you think having one million CATs out there (and increasing at the rate of about 700-1000 CATs per day) causes dumping problems due to sheer volume of coins, think about what the dumping potential is for DOGE, and look at what the prices are doing. I think CAT is in better shape than DOGE despite temporary "profitability" of DOGE. DOGE is selling out its soul and long-term prospects, in order to get temporary hashing power. That is definitely not the strategy to emulate for any altcoin. We need a strategy to obtain and keep a reasonable hash rate, at a reasonable profitability level sufficient to keep loyal miners funded, while keeping out the mercenary types who are only interested in split-second momentary profits. The hasher-dumper does not mine Litecoins, and if that situation is good enough for Litecoins, it should be good enough for Catcoins too.

Try going to coinedup.com and look at the DOGE/CAT market. It's sitting right around 1200-1300. That's about where it was sitting a few days ago, when CAT was at its peak too. So the current value loss is something both DOGE and CAT are suffering, so it's not a situation of DOGE going up at the expense of CAT. We just need to find a way to tide things over in the short term, avoid a drastic reduction in difficulty level at the next changeover (as to cut off resupply line for the dumpers), and things should stabilize and be back on the ascent.

[kalus]

To keep things in perspective, some posting here make it sound like CAT is the only coin to be losing value in relation to BTC. Not long ago, DOGE was trading at .00000150, then it was at .00000100, then it was at .00000070, and just yesterday it was at .0000055. Now, it's trading at .0000045. If you think having one million CATs out there (and increasing at the rate of about 700-1000 CATs per day) causes dumping problems due to sheer volume of coins, think about what the dumping potential is for DOGE, and look at what the prices are doing.

the solution for the DOGE community was therefore, to fork the coin. 

oh wait...

[Nullu]

It clearly needs a hard fork. With the current hashrate (which will probably continue to decrease), it would be more than 2 years before the next difficulty adjustment. This will simply kill this coin.

What happens after a hard fork

After a hard fork cryptsy and possibly coinedup will automatically delist the coin due to their automated systems detecting the change. It will be chaos after some time. At that point it really depends on whether the community can come together and pull Catcoin back. If it becomes fractured with some people irrationally insisting on bitcoin specs despite it being very obvious that's not feasible in the current environment then the coin will collapse in on itself. However, if the community redoubles its efforts and gets behind the new difficulty retargets and block times it can get relisted eventually and the coin can really have a chance.

I want to emphasize to everyone: The advantage CAT has to DOGE is that it has less coins, thereby not inflating the market. The number of coins is good and should be retained. There is absolutely NO reason why a longer block time and a longer difficulty retargeting time is advantageous for any crypto.

1 minute block times with 5 coins per block
1440 blocks per retarget

Then CAT will really be a competitive coin and its appeal will really be marketable.

What about asking cryptsy, coinedup and coinex to just update their wallets as well? I believe it's rather simple...

Yes, if it were to happen, they would be notified well in advance.

[vondi1122]

To keep things in perspective, some posting here make it sound like CAT is the only coin to be losing value in relation to BTC. Not long ago, DOGE was trading at .00000150, then it was at .00000100, then it was at .00000070, and just yesterday it was at .0000055. Now, it's trading at .0000045. If you think having one million CATs out there (and increasing at the rate of about 700-1000 CATs per day) causes dumping problems due to sheer volume of coins, think about what the dumping potential is for DOGE, and look at what the prices are doing. I think CAT is in better shape than DOGE despite temporary "profitability" of DOGE. DOGE is selling out its soul and long-term prospects, in order to get temporary hashing power. That is definitely not the strategy to emulate for any altcoin. We need a strategy to obtain and keep a reasonable hash rate, at a reasonable profitability level sufficient to keep loyal miners funded, while keeping out the mercenary types who are only interested in split-second momentary profits. The hasher-dumper does not mine Litecoins, and if that situation is good enough for Litecoins, it should be good enough for Catcoins too.

+1 but how can we lower the block time avg, 36 minutes 46 seconds is just too high.

Ok, we also need protection against gigahash pools jumping in at low difficulties, how can this be done?

[kalus]

The following is why short of someone seriously manipulating the prices upward, CATcoin will continue its death spiral. There are many die hard optimists in this thread who don't use logic and invest purely based on emotion or some arbitrary libertarian ideal. Those people will say things along the lines of "The difficulty retarget and block times are perfect because it's the same as bitcoin" or "CAT is an alternative to bitcoin which is more decentralized and combats the increasing levels of bitcoin regulation by governments". In reality, however, CAT is not operating under the same environment as BTC and treating them the same is a mistake:
......
In the past I have indicated that the only way to save CAT is a hard fork which decreases block times to 1 minute and changes difficulty retarget to roughly once every 24 hrs. This was received poorly by the community. Perhaps the community will be more willing to consider it once it takes 1-2hrs average for a block and the price is at 0.0002. Maybe then I'd be willing to reinvest in CAT again.

+1  agreed.  

however, a proposal to hard-fork the currency after a week of mining and trading?  that will trash remaining confidence in the coin, and people will move on to this week's meme (i guess it's cagecoin).

as long as cat remains one of the least profitable coins to mine, i cannot justify spending resources to prop it up.  right now i can mine doge, and trade it for 3x cat in USD everyday.  

Why people think a fork will make investors lose confidence? If something it shows the engagement of a serious dev team that understand the coin needs a change from the initial idea. Memorycoin 2.0 had a fork because of this same reason, the dev didn't take longer than a day to understand that the future of the coin was unclear without the fork, so they did it and people just got more confident seeing a dev taking care of the coin.

how much money have you made in memorycoin 1.0 or 2.0?  how many memorycoins have you mined today?

forking a currency currently being traded for value is force majeure.  it signals the developers are like children knocking the chess board off the table when they're unhappy with losing the game. 

again, it's only been a week, and we're talking about forking the coin.

it's only been a week, and we're trying to prop the currency up.

[kalus]

Ok, we also need protection against gigahash pools jumping in at low difficulties, how can this be done?

keep the coin worthless to mine:  it's the only way to be sure. 

[vondi1122]

keep the coin worthless to mine:  it's the only way to be sure. 

I guess we're good at that right now 

[atheistftwins]

The following is why short of someone seriously manipulating the prices upward, CATcoin will continue its death spiral. There are many die hard optimists in this thread who don't use logic and invest purely based on emotion or some arbitrary libertarian ideal. Those people will say things along the lines of "The difficulty retarget and block times are perfect because it's the same as bitcoin" or "CAT is an alternative to bitcoin which is more decentralized and combats the increasing levels of bitcoin regulation by governments". In reality, however, CAT is not operating under the same environment as BTC and treating them the same is a mistake:
......
In the past I have indicated that the only way to save CAT is a hard fork which decreases block times to 1 minute and changes difficulty retarget to roughly once every 24 hrs. This was received poorly by the community. Perhaps the community will be more willing to consider it once it takes 1-2hrs average for a block and the price is at 0.0002. Maybe then I'd be willing to reinvest in CAT again.

+1  agreed.  

however, a proposal to hard-fork the currency after a week of mining and trading?  that will trash remaining confidence in the coin, and people will move on to this week's meme (i guess it's cagecoin).

as long as cat remains one of the least profitable coins to mine, i cannot justify spending resources to prop it up.  right now i can mine doge, and trade it for 3x cat in USD everyday.  

Why people think a fork will make investors lose confidence? If something it shows the engagement of a serious dev team that understand the coin needs a change from the initial idea. Memorycoin 2.0 had a fork because of this same reason, the dev didn't take longer than a day to understand that the future of the coin was unclear without the fork, so they did it and people just got more confident seeing a dev taking care of the coin.

how much money have you made in memorycoin 1.0 or 2.0?  how many memorycoins have you mined today?

forking a currency currently being traded for value is force majeure.  it signals the developers are like children knocking the chess board off the table when they're unhappy with losing the game.  

again, it's only been a week, and we're talking about forking the coin.

it's only been a week, and we're trying to prop the currency up.

I disagree. Propping the currency up would be doing all the manipulative things that this thread has been doing this whole time, including the "hold the line" at 0.001 from a few days up. Forking is not artifically propping the currency up. It is recognizing there is a fundamental flaw in the design of the coin at the getgo. Resolving this flaw would be beneficial for all parties: Investors, miners, and even the exchange due to increased volume.

A week is not too short when at this rate in another week the coin will be dead.

[skovbitcoin]

Lack of dev input is what most concerns me to be honest. At least if a fork was on the cards or not, we should know sooner rather than later...

[vondi1122]

is it not possible to fix a diff change after lets say 500 blocks? wouldnt that make things much easier? and keep all the rest?

[kaene]

The following is why short of someone seriously manipulating the prices upward, CATcoin will continue its death spiral. There are many die hard optimists in this thread who don't use logic and invest purely based on emotion or some arbitrary libertarian ideal. Those people will say things along the lines of "The difficulty retarget and block times are perfect because it's the same as bitcoin" or "CAT is an alternative to bitcoin which is more decentralized and combats the increasing levels of bitcoin regulation by governments". In reality, however, CAT is not operating under the same environment as BTC and treating them the same is a mistake:
......
In the past I have indicated that the only way to save CAT is a hard fork which decreases block times to 1 minute and changes difficulty retarget to roughly once every 24 hrs. This was received poorly by the community. Perhaps the community will be more willing to consider it once it takes 1-2hrs average for a block and the price is at 0.0002. Maybe then I'd be willing to reinvest in CAT again.

+1  agreed.  

however, a proposal to hard-fork the currency after a week of mining and trading?  that will trash remaining confidence in the coin, and people will move on to this week's meme (i guess it's cagecoin).

as long as cat remains one of the least profitable coins to mine, i cannot justify spending resources to prop it up.  right now i can mine doge, and trade it for 3x cat in USD everyday.  

Why people think a fork will make investors lose confidence? If something it shows the engagement of a serious dev team that understand the coin needs a change from the initial idea. Memorycoin 2.0 had a fork because of this same reason, the dev didn't take longer than a day to understand that the future of the coin was unclear without the fork, so they did it and people just got more confident seeing a dev taking care of the coin.

how much money have you made in memorycoin 1.0 or 2.0?  how many memorycoins have you mined today?

forking a currency currently being traded for value is force majeure.  it signals the developers are like children knocking the chess board off the table when they're unhappy with losing the game. 

again, it's only been a week, and we're talking about forking the coin.

it's only been a week, and we're trying to prop the currency up.

Wrong, I'm not talking Memorycoin 1 to Memorycoin 2! It was Memorycoin 2.0 that had the adjustment. (btw, I mined over 150 MMC today)

A coin can't survive without miners, people can't just accept to have to wait hours or days for the transactions, and there are too many coins currently, and miners jumping from one to another, 2 years until next difficulty change ...

How do you expect people to trade this coin so that it gets an acceptable price again if you have to wait so many hours and soon days for every transaction?

[etblvu1]

Ok, we also need protection against gigahash pools jumping in at low difficulties, how can this be done?

We need to put major hashing power into the Catcoin network, right before the difficulty adjustment takes place. I don't know the technical details, but I imagine if we purchase hashing power an estimated 24 hours before the change in difficulty is to occur, it should moderate the adjustment downward, and prevent it from going into miner-dumper bait territory. Also, making the next difficulty adjustment modest, should in turn cause the difficulty adjustment after that to be modest, too, and we may go a long way towards stabilizing the coin, at least until the value goes up significantly.

Anyone have more technical information on at what time interval the measurement is taken, that the difficulty adjustment is based on? And good resources to buy temporary raw hashing power?

[tabsa]

http://catchain.info/chain/Catcoin

Everyone who doubts that fork is ESSENTIAL TO CATCOIN SURVIVAL should check out block times on this link. We are getting to 2 hours between blocks soon (10 minutes was the intended target).

This means the coin will essentially stop being mined in next 24 hours, because no new blocks will be generated - this means NO MORE TRANSACTIONS!