[ANN] Catcoin - Scrypt meow!

[CatCoinForums]

Patience is key. We wait and we wait. Atleast people are still buying right? hahaha, im very chilled out even with a heavy amount of stock invested.. I just can see the future.

[tabsa]

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?

If we fork AND change retarget times to something more sane, there will be no more problems with multipools jumping in and out! If we don't this same problem will happen everyweek till all your cats are dead!

[Nullu]

Even it takes weeks and weeks, once we reach the diff target, it will be adjusted and correct itself, right? With our current hashpower how long until we reach the next difficulty?

[foaman]

the dev is almost non-existent at this point.  I tried to stay invested in both cat and doge but I had to finally cash out my cats.  I almost wanted to do down with the ship also but I still think doge has a chance to rise.  doge isn't dead someone or some group is forcing the price down with thousands and thousands of 10,000 doge sell orders at the same price or 1 satoshi lower than whatever it is currently.  If that person or group were to stop doing that we could see the true potential for Doge.  I think at one point someone was forcing cats lower as well but that seems to have stopped or it is no where near the level we are seeing the manipulation in doges.  now its just self imploding.  

I thinks cats had a lot of hype being an scrypt clone of btc but that alone isn't enough.  just because BTC was the first coin DOES NOT make it the best.  BTC is outdated technology the only reason it is still around is because it WAS THE FIRST coin. IMO if btc was to be released right now it would fail same as cats.  whoever keeps stating that 10 min blocks and 2 week recalculations on the diff is unacceptable these days is 100% correct.  I tried to stay but I can't see this turning around.

[DJTrey]

We need to FORK Catcoin. This is the only way for this coin to survive. Seriously, screw the haters who disagree. This needs to be done.

The FORK will happen Friday, January 3, 2014 at 7PM CST / 8PM ET.

http://www.timeanddate.com/countdown/generic?iso=20140103T19&p0=%3A

Yes, it's Friday night, but you all should not go out, stay home and help with this so this coin won't die.

Do this for Catcoin.

[tabsa]

Even it takes weeks and weeks, once we reach the diff target, it will be adjusted and correct itself, right? With our current hashpower how long until we reach the next difficulty?

We have two futures that we can choose for catcoin:

1. Fork and fix retarget time. No more problems like this.
2. Wait week till diff drops, multipool jumps in again, diff goes to heaven and we have the same problem like we do now! Talk about forking again in two weeks.

[itsallpc]

What happens with a fork does the price go down? do you lose value etc etc???

[moonpool]

We need to FORK Catcoin. This is the only way for this coin to survive. Seriously, screw the haters who disagree. This needs to be done.

The FORK will happen Friday, January 3, 2014 at 7PM CST / 8PM ET.

http://www.timeanddate.com/countdown/generic?iso=20140103T19&p0=%3A

Yes, it's Friday night, but you all should not go out, stay home and help with this so this coin won't die.

Do this for Catcoin.

Our pool will move to this fork as long as it adequately solves this difficulty time ridiculoussness.

[kaene]

Even it takes weeks and weeks, once we reach the diff target, it will be adjusted and correct itself, right? With our current hashpower how long until we reach the next difficulty?

Almost a year? Diff retargeting every 2016 blocks, and a block is taking 2-3 hours (soon probably much more), and seriously, no one will leave their GPUs mining a coin for a year just to see the difficulty change. And again, just if people don't see this, without miners no one can make transactions ... there won't be any way for the coin to raise again at all.

I propose a update of the wallet (a fork) from the block 20300, that's 43 blocks from now (that would be a week from now with current hashrate), or whatever the dev thinks convenient, we ask the exchanges to update their wallet before then, everyone updates, and that's all, if the exchanges update their wallet everyone else will do and the coin continues.

[CatCoinForums]

We need to FORK Catcoin. This is the only way for this coin to survive. Seriously, screw the haters who disagree. This needs to be done.

The FORK will happen Friday, January 3, 2014 at 7PM CST / 8PM ET.

http://www.timeanddate.com/countdown/generic?iso=20140103T19&p0=%3A

Yes, it's Friday night, but you all should not go out, stay home and help with this so this coin won't die.

Do this for Catcoin.

If this is what the community wants and is needed to survive.. I'm in to support this.
 
I can email over 340members on the catcoin forum announcing this news and linking them to this forum for them to post for 1CAT per post. I will bring support for catcoin, i will not let this coin die.
www.catcoinforum.com

Donations are welcome: 9nX2yQMwGRQsamftkyk145CSTj1ED6B7Md

I will do everything in my power to get this coin back in track.



CATCOIN WE FELLOW CATS MUST COME AS ONE.


.

[kaene]

We need to FORK Catcoin. This is the only way for this coin to survive. Seriously, screw the haters who disagree. This needs to be done.

The FORK will happen Friday, January 3, 2014 at 7PM CST / 8PM ET.

http://www.timeanddate.com/countdown/generic?iso=20140103T19&p0=%3A

Yes, it's Friday night, but you all should not go out, stay home and help with this so this coin won't die.

Do this for Catcoin.

Our pool will move to this fork as long as it adequately solves this difficulty time ridiculoussness.

+1 thanks

[tabsa]

What happens with a fork does the price go down? do you lose value etc etc???

All the coins that you have mined or bought - NOTHING WILL HAPPEN TO THEM.
Bitcoin had a hard fork already: http://bitcoin.stackexchange.com/questions/9986/how-is-a-hard-fork-resolved

How markets will react to fork is impossible to predict. But if we do nothing i surely can predict the price dropping even lower.

[tabsa]

We need to FORK Catcoin. This is the only way for this coin to survive. Seriously, screw the haters who disagree. This needs to be done.

The FORK will happen Friday, January 3, 2014 at 7PM CST / 8PM ET.

http://www.timeanddate.com/countdown/generic?iso=20140103T19&p0=%3A

Yes, it's Friday night, but you all should not go out, stay home and help with this so this coin won't die.

Do this for Catcoin.

teamcatcoin.com pool will also be switching to new fork it fixes the block re-target times.

[itsallpc]

What happens with a fork does the price go down? do you lose value etc etc???

All the coins that you have mined or bought - NOTHING WILL HAPPEN TO THEM.
Bitcoin had a hard fork already: http://bitcoin.stackexchange.com/questions/9986/how-is-a-hard-fork-resolved

How markets will react to fork is impossible to predict. But if we do nothing i surely can predict the price dropping even lower.

what will the hard fork change ? just the block time? diff

[BitchCoin]

We are a hair away from 0.0004 omfg I put my kids college fund into this so he could go to harvard

[obeone]

I feel like a rat on a sinking ship. But like the captain of the Titanic, if need be, I will go down with her.

I would rather hold my coins, rather than sell dirt cheap.

Me too    (5500 catcoins)....

[matoy]

Silly question but if we fork, what does happen to our cat coins held on exchange markets? (Like cryptsy or coinedup)

Isn'it better to get our cats back to our wallets?

[kaene]

If we do a fork it has to be the dev to take care of it. It just have to be from block XXXXX, and everyone should update their wallet before that block, as long as you update it, you won't see anything happening, your coins will be there and the current price will continue, it's just the market that will set the price as always.

People will only have to update their wallet before that block, nothing else happens, many coins have forks to fix a flaw, like tabsa said bitcoin had a fork too. As long as pools and exchanges update their wallets, nothing will happen to your coins, that simple ... and in a couple of days we can all get back to mine and trade this coin.

[BroTroxer]

We are a hair away from 0.0004 omfg I put my kids college fund into this so he could go to harvard

That statement tells me you never got the chance to go there yourself.

[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.

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.

you are correct.  my two ideas ran together.