[ANN] Catcoin - Scrypt meow!

[atheistftwins]

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

Why is only the difficulty retarget going to be changed? If you are changing that, might as well also improve the coin by changing block times as well (while keeping the rate of supply the same of course). If a change is to be made, don't do a halfway job. I'm still advocating 5 coin blocks at 1 minute each. 6 hour retarget seems perfectly reasonable.

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[skillface]

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

It'd be at Sunday 1AM UTC, I think.

[Zombie123]

my catcoin are stuck somewhere O transferred to coinex but they are stuck with 3 validation since 5 hrs now wtf

[foodies123]

aaaand it's going back up )))

[rizardus]

whats about transfer in progress? this fork thing didnt remove ongoing trasfer ? i have transfered some cats to cryptsy but still no confirms

[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.

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.

Tell that to people who get paid every 2 weeks. Good luck with 6 hour price fluctuations and difficulty retargets on that one. I'll wait.

LOL, my consent. No it isn't. I'll hold CATs, but I will release a BTC in scrypt myself.

Anyways, here's my updated proposal:

Having Bitcoin in scrypt is important. Bitcoin needs to be knocked off its pedestal for being 1) a currency held in majority by feds 2) cozying up to coinvalidation and whining about non-monetary uses like IOUs or barter.

Only speculators and trollbox wankers want fast times. Retarget should always return to 2016.

I would suggest this:

If the block rate is faster by 2x (as in 5 minutes vs 10 minutes) or slower by 4x (40 minutes vs 10 minutes) the retarget rate should change like this - 224, 112, 42 - at a time:
224: 2016 | 1792, 1568, 1344, 1120, 896, 672, 448; 56: 448 | 336, 224, 112; 42: 112 | 70, 28.

On the way up it should be the reverse:
224: 28 | 252, 476, 700, 924, 1148, 1372, 1596; 112: 1596 | 1708, 1820, 1932; 42: 1932 | 1974, 2016.

This emergency readjust should be triggered every 6 hours if and only if:
Blockrate is 4x slower than expected or 2x faster than expected.

[zerodrama]

whats about transfer in progress? this fork thing didnt remove ongoing trasfer ? i have transfered some cats to cryptsy but still no confirms

The fork hasn't happened yet.

[lightfoot]

Fired the CPU miner back up. 10k hash underway.

I wonder if there is a way to pay miners to mine catcoin to get out of this trap.

C

[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.

Tell that to people who get paid every 2 weeks. Good luck with 6 hour price fluctuations and difficulty retargets on that one. I'll wait.

LOL. Not it isn't. I'll hold CATs, but I will release a BTC in scrypt myself.

Anyways, here's my updated proposal:

Having Bitcoin in scrypt is important. Bitcoin needs to be knocked off its pedestal for being 1) a currency held in majority by feds 2) cozying up to coinvalidation and whining about non-monetary uses like IOUs or barter.

Only speculators and trollbox wankers want fast times. Retarget should always return to 2016.

I would suggest this:

If the block rate is faster by 2x (as in 5 minutes vs 10 minutes) or slower by 4x (40 minutes vs 10 minutes) the retarget rate should change like this - 224, 112, 42 - at a time): 224: 2016 | 1792, 1568, 1344, 1120, 896, 672, 448; 56: 448 | 336, 224, 112; 28: 112 | 70, 28.

On the way up it should be the reverse: 224: 28 | 252, 476, 700, 924, 1148, 1372, 1596; 112: 1596 | 1708, 1820, 1932; 42: 1932 | 1974, 2016.

This emergency readjust should be triggered every 6 hours if and only if:
Blockrate is 4x slower than expected or 2x faster than expected.

Nobody cares about your troll proposal or your libertarian fetish for BTC. You can ignore the free market all you want with your money but if you want people to take you seriously you need to stop your childish idealisms. Fast difficulty retargets lead to LESS flucatuation in supply, not MORE. You don't have a huge amount of people pumping in coins when diff is low and everyone bailing when diff is high like right now.

You are literally comparing price of crypto to the time people receive their paychecks. I physically facepalmed at that. This is a PAYMENT system. Would you rather have your money stuck in the ether for 10 minutes every transaction rather than a shorter time? There is literally ZERO benefit to longer block times. Your ignorance of this whole market is astounding. Worse still, you are suggesting that CAT is going to replace BTC since BTC is being regulated by the feds. If anything this regulation is what's giving BTC the legitimacy to be accepted by the mainstream.

I don't think I can argue with someone like you. I will not reply to any more of your messages. Normally I like to keep polite and refrain from personal attacks, but the level of delusional stupidity in your posts is giving me a headache.

[Reece523]

Which doesn't really make any sense. Why would anyone pay 0.0007 BTC for a coin that is being forked? CoinMarketCap.com provides a nice history lesson for what happens to coins after they get forked. They go down, usually way down. Sometimes they go back up, sometimes they don't. Either way, I really don't see the purpose in buying now for that kind of bitcoin.

aaaand it's going back up )))

[tx42]

Only speculators and trollbox wankers want fast times. Retarget should always return to 2016.

I've read almost all 200+ posts in this thread, and no one has explained how 2016 equates to a better coin.

What is the mechanism by which recalibration time leads to

• stability
• value

Analogies to snow mobiles and milk tankers won't cut it. Give us cause and effect. Better yet, show some math.

[Mortimer452]

Having Bitcoin in scrypt is important. Bitcoin needs to be knocked off its pedestal for being 1) a currency held in majority by feds 2) cozying up to coinvalidation and whining about non-monetary uses like IOUs or barter.

Only speculators and trollbox wankers want fast times. Retarget should always return to 2016.

I could not disagree more.  Bitcoin in scrypt is unimportant.  There is a reason why no other coin since Bitcoin has used a difficulty adjustment timespan as large as Bitcoin's - it sucks.  The only reason everyone puts up with it is because BTC are worth $800.

[zerodrama]

Which doesn't really make any sense. Why would anyone pay 0.0007 BTC for a coin that is being forked? CoinMarketCap.com provides a nice history lesson for what happens to coins after they get forked. They go down, usually way down. Sometimes they come back up, sometimes they don't. Either way, I really don't see the purpose in buying now for that kind of bitcoin.

aaaand it's going back up )))

If there is no mechanism for it to return to 2016, I am releasing HATCOIN (BTC specs), HOTCOIN (BTC specs), HITCOIN (BTC specs), and HUTCOIN (BTC specs).

[Reece523]

It doesn't - it equates to a worse coin.

It's like saying Myspace provided a better social media experience than Facebook back in the day because it had more users and that it would clearly have to be better than Facebook if more users were choosing it over Facebook. Except many users didn't choose it over Facebook, they chose to use Myspace when there was no Facebook and had all their friends on Myspace so switching costs were high. And then when their friends moved to Facebook and the switching costs decreased, they moved to Facebook as well.

If it didn't take so many blocks for recalibration to occur, it would have been much easier to persuade miners to stick around -- e.g. "CAT isn't very profitable right now but it will be a lot more profitable in 128 blocks so I will help ensure it gets there".  Replace the 128 by 2016 and it seems to be asking a bit much of our miners imo.

Only speculators and trollbox wankers want fast times. Retarget should always return to 2016.

I've read almost all 200+ posts in this thread, and no one has explained how 2016 equates to a better coin.

What is the mechanism by which recalibration time leads to

• stability
• value

Analogies to snow mobiles and milk tankers won't cut it. Give us cause and effect. Better yet, show some math.

[zerodrama]

Having Bitcoin in scrypt is important. Bitcoin needs to be knocked off its pedestal for being 1) a currency held in majority by feds 2) cozying up to coinvalidation and whining about non-monetary uses like IOUs or barter.

Only speculators and trollbox wankers want fast times. Retarget should always return to 2016.

I could not disagree more.  Bitcoin in scrypt is unimportant.  There is a reason why no other coin since Bitcoin has used a difficulty adjustment timespan as large as Bitcoin's - it sucks.  The only reason everyone puts up with it is because BTC are worth $800.

BITCOIN in scrypt is important if you don't want an open-source-closed-committee-bunker-building-passive-community-having-coin putting everyone in its shadow.

[zerodrama]

Only speculators and trollbox wankers want fast times. Retarget should always return to 2016.

I've read almost all 200+ posts in this thread, and no one has explained how 2016 equates to a better coin.

What is the mechanism by which recalibration time leads to

• stability
• value

Analogies to snow mobiles and milk tankers won't cut it. Give us cause and effect. Better yet, show some math.

Long term recalibration means people have to make long term decisions based on real world long term spans of interest in real world long term projects.

Long term calibration chases off the ADHD meth traders who do nothing but screw with people being able to conduct real world business.

[zerodrama]

It doesn't - it equates to a worse coin.

It's like saying Myspace provided a better social media experience than Facebook back in the day because it had more users and that it would clearly have to be better than Facebook if more users were choosing it over Facebook. Except many users didn't choose it over Facebook, they chose to use Myspace when there was no Facebook and had all their friends on Myspace so switching costs were high. And then when their friends moved to Facebook and the switching costs decreased, they moved to Facebook as well.

If it didn't take so many blocks for recalibration to occur, it would have been much easier to persuade miners to stick around -- e.g. "CAT isn't very profitable right now but it will be a lot more profitable in 128 blocks so I will help ensure it gets there".  Replace the 128 by 2016 and it seems to be asking a bit much of our miners imo.

Only speculators and trollbox wankers want fast times. Retarget should always return to 2016.

I've read almost all 200+ posts in this thread, and no one has explained how 2016 equates to a better coin.

What is the mechanism by which recalibration time leads to

• stability
• value

Analogies to snow mobiles and milk tankers won't cut it. Give us cause and effect. Better yet, show some math.

He asks for stability and you argue that inviting people with a short attention span who can't commit for a week or two to something is going to bring stability.

Are you serious?

[AnnaNeMuss]

I suggest that we rent miners to push through 1800 blocks and take them off before the difficulty change.

[envy2010]

I suggest that we rent miners to push through 1800 blocks and take them off before the difficulty change.

Would it not be more cost-effective to simply buy CatCoin on the exchanges, pushing the price up, therefore pushing the profitability up, thereby encouraging miners to jump back in?

I haven't looked closely at the depth of the market, but it looks like 5 to 10 BTC would buy up most of the CatCoin available under 0.0008 BTC.

[tx42]

Long term recalibration means people have to make long term decisions based on real world long term spans of interest in real world long term projects.

You want miners, who are by nature opportunists, to work for the long term interest of the coin at their own personal costs? Such miners don't exist because of real-world concerns, like return on investment and opportunity costs.

Look at the lead developer. His present real world concerns has put his own coin on the back burner. Don't expect miners to act any differently.