[ANN] Catcoin - Scrypt meow!

[Nullu]

This explains more about the Fork and what exactly will happen - http://catcoins.org/catcoin-fork/

Is this official?

I'm not aware the dev has. I've spoken to him about it, and he seems willing to go ahead, but nothing official has been announced that I'm aware of.

Also; I wouldn't want to say Forking The Cat out loud in public. It may be misconstrued.

This explains more about the Fork and what exactly will happen - http://catcoins.org/catcoin-fork/

Is this official?

yup

Spoken to dev?

[1714723791]

1714723791

[zerodrama]

Literally delusional. I bet you have no market experience whatsoever nor understand the basis of value behind crypto. It's clear that it's pointless discussing logic with you. When the community comes to their senses and forks this coin feel free to keep all your money in the old version. You can sink along with your obsession with the BTC specs.

The BTC specs are why no one buys anything except with BTC and cute coins.

[skillface]

This explains more about the Fork and what exactly will happen - http://catcoins.org/catcoin-fork/

Is this official?

I'm not aware the dev has. I've spoken to him about it, and he seems willing to go ahead, but nothing official has been announced that I'm aware of.

Also; I wouldn't want to say Forking The Cat out loud in public. It may be misconstrued.

Where the hell is the dev in all of this anyway? He doesn't seem too interested in the future of this coin.

If this fork does go ahead, what am I supposed to do with my CAT currently on Cryptsy? I'm not convinced they'll even bother updating their wallet, and a transfer back to my own wallet could take absolutely ages at this rate.

[etblvu1]

5) Block reward = keep the same at 50, but with just one minor modification*

* You solve a block. If the current difficulty level is significantly easier than the last difficulty level, your block reward will depend on the results of performing a simple loyalty check. If you can point to a block you solved during the last difficulty era which you did not point to before (i.e., comes from the same address), you get the full 50 coins. Otherwise, you get half (25 coins). The balance of coins are carried over to the next block reward or destroyed.

Blocks are technically solved by the pools, rather than the individual miners using them, so this does nothing.

If a pool has 100 miners @ 1 GH/S connecting into it during a high difficulty era, then it gets 200 more miners @ 1 GH/S joining during an easy difficulty era, it can only point to the limited number of blocks solved during the high difficulty era to obtain the full 50 coins (the supply of high difficulty era coins it can point to, is only 1/3 the amount needed to get full credit). Naturally, the pool would have incentive to allocate twice as many shares for miners who were there during the difficult era, than miners who joined during the easy era. Otherwise, the committed miners would leave the pool for another pool who recognizes their contribution to the network, and the pool would be left idle during high difficulty times, and mine at half the rate during easy difficulty times, probably not a winning formula for a pool. On the other hand, pools may find it easier to simply not allow people to join the pool during an easy era, and only during a difficult era. Then, there will always be enough hard blocks to point to, to get full credit for easy blocks that come.

[Nullu]

This explains more about the Fork and what exactly will happen - http://catcoins.org/catcoin-fork/

Is this official?

I'm not aware the dev has. I've spoken to him about it, and he seems willing to go ahead, but nothing official has been announced that I'm aware of.

Also; I wouldn't want to say Forking The Cat out loud in public. It may be misconstrued.

Where the hell is the dev in all of this anyway? He doesn't seem too interested in the future of this coin.

His house recently got burgled. I think real life events have had to, understandably, take precedence.

[foodies123]

This explains more about the Fork and what exactly will happen - http://catcoins.org/catcoin-fork/

Is this official?

I'm not aware the dev has. I've spoken to him about it, and he seems willing to go ahead, but nothing official has been announced that I'm aware of.

Also; I wouldn't want to say Forking The Cat out loud in public. It may be misconstrued.

This explains more about the Fork and what exactly will happen - http://catcoins.org/catcoin-fork/

Is this official?

yup

Spoken to dev?

not yet but I'm 99% sure it's gonna be a fork and soon don't worry I'm still holding to 3k cats ) also do you think that ele stuff is gonna get us some bits ? )

[kalus]

Can you please clarify what is so special about bitcoin specs that you think CAT should keep the block times? People on this thread have some deluded emotional daydream about bitcoin. CAT is not BTC. BTC was the first of its kind and the only one to truely receive mainstream popularity. CAT has to compete with all the other altcoins and therefore needs to face the reality that people WILL move to the most profitable coin. Your idea does not solve anything. People will STILL move to the most valuable coin. In fact, what you are doing is further disincentivizing people from returning to CAT to mine.

You're correct.  

However, what happened in the last 6 hours is more telling about the future of the currency and the culture surrounding it.  

You previously stated that forking the currency was not a manipulation, and that it was different from the pump-and-dump speculation, indexing to 0.001, etc.  We now see support for a fork dwindle as the price of CAT starts to climb again.  this suggests that people are more motivated to manipulate the currency and come out ahead in the fork, rather than to ensure the integrity of the coin as a whole.

As long as cats are low i'm going to buy them, but there's a point where it's too expensive to buy.  You're also right that there is no incentive to mine.  but understand that even discussing forking the blockchain also creates a mining disincentive because any khashhours devoted to catcoin pre-fork will be worth less than a forked catcoin with lower difficulty.

we're at a catch-22 right now:  the time to have the blockchain coup d'etat i believe has just passed us, but people don't seem willing to address these critical issues as when the coin was down a few hours ago.

[Nullu]

Also I hope to god coinedup, coinex and cryptsy are being made aware of this at the same time as the pools so we can keep seemingly trading CAT after the fork.

[vaelrock]

This explains more about the Fork and what exactly will happen - http://catcoins.org/catcoin-fork/

Is this official?

yup

If that's true, that changes everything. Catcoin had no reason to stay at only ~500k dollars market cap except for the total absence of mining profitability. The community did a lot more work than a lot of others crypto that has triple the market cap or even a lot more.

[foodies123]

Also I hope to god coinedup, coinex and cryptsy are being made aware of this at the same time as the pools so we can keep seemingly trading CAT after the fork.

^ that should be our first order of business once dev officially announces the fork

[zerodrama]

5) Block reward = keep the same at 50, but with just one minor modification*

* You solve a block. If the current difficulty level is significantly easier than the last difficulty level, your block reward will depend on the results of performing a simple loyalty check. If you can point to a block you solved during the last difficulty era which you did not point to before (i.e., comes from the same address), you get the full 50 coins. Otherwise, you get half (25 coins). The balance of coins are carried over to the next block reward or destroyed.

Blocks are technically solved by the pools, rather than the individual miners using them, so this does nothing.

This opens up a ridiculous shitstorm of people complaining or claiming they got more than others.

Screw that.

[Nullu]

This explains more about the Fork and what exactly will happen - http://catcoins.org/catcoin-fork/

Is this official?

yup

If that's true, that changes everything. Catcoin had no reason to stay at only ~500k dollars market cap except for the total absence of mining profitability. The community did a lot more work than a lot of others crypto that has triple the market cap or even a lot more.

Right, can someone nag the dev and get him to make this official in the first post? Get a thread announcing this if it's legit? I'm off to bed now.

What a drama.  

[janos666]

This explains more about the Fork and what exactly will happen - http://catcoins.org/catcoin-fork/

This is the first time I considered a panic sell.
But I will go to sleep instead.

[Nullu]

This explains more about the Fork and what exactly will happen - http://catcoins.org/catcoin-fork/

This is the first time I considered a panic sell.
But I will go to sleep instead.

Part and parcel of altcurrencies I'm afraid. Knowing when to hold and when to fold is the hardest part. I won't tell anyone what to do with their Cat. Just out of spite I'm determined to prove people wrong, though.

Nobody should ever claim they know how it'll play out. The ones that shout the loudest usually have the least to say. Use your own judgement. 

[zerodrama]

Also I hope to god coinedup, coinex and cryptsy are being made aware of this at the same time as the pools so we can keep seemingly trading CAT after the fork.

^ that should be our first order of business once dev officially announces the fork

Where is the fork thread?

I believe the retarget should only change when there's an emergency like a spike in hashrate that then runs off.

Here's my proposal. If the time is over 2x what it should be, the retarget becomes 3x faster, but it should always return to 2016.

[atheistftwins]

Literally delusional. I bet you have no market experience whatsoever nor understand the basis of value behind crypto. It's clear that it's pointless discussing logic with you. When the community comes to their senses and forks this coin feel free to keep all your money in the old version. You can sink along with your obsession with the BTC specs.

The BTC specs are why no one buys anything except with BTC and cute coins.

The BTC specs are the biggest obstacle BTC has. Luckily for BTC it has asics and hype to let it rise in value still. CAT is nowhere near that established. Congrats, you have literally clung on to the worst part of BTC. This fork is going ahead without your consent. Feel free to keep your coins in this version or start a new scrypt BTC so that you can lose even more money in it. The rest of us are going to rescue CAT.

[vaelrock]

Also I hope to god coinedup, coinex and cryptsy are being made aware of this at the same time as the pools so we can keep seemingly trading CAT after the fork.

^ that should be our first order of business once dev officially announces the fork

Where is the fork thread?

I believe the retarget should only change when there's an emergency like a spike in hashrate that then runs off.

Here's my proposal. If the time is over 2x what it should be, the retarget becomes 3x faster, but it should always return to 2016.

There's no point. Multipools will jump when it's profitable, difficulty will rise a lot after only 3/4 days instead of 14, hashrate will drop damatically again, and then the coin will automatically retarget difficulty 3 times faster, after 4.67 days.
This will happen again and again until CATCOIN is one of the major crypto with hundreds of GH/s through scrypt ASIC miners in one year or two.

Of course the last part will never happen.

[ubermoose]

This explains more about the Fork and what exactly will happen - http://catcoins.org/catcoin-fork/

The site states "8PM EST, Caturday January 4th, 2014.", but the countdown seems to be based on 8PM local time, not EST.

[BitchCoin]

This explains more about the Fork and what exactly will happen - http://catcoins.org/catcoin-fork/

And as for the exchanges? What should we do about our coins on them? Will everything be okay if we just keep them there?

[janos666]

Why can't these location/nation independent coins simply use standard UTC time?