[ANN] Catcoin - Scrypt meow!

[Mooshi]

I think that's a very nice suggestion. Even 5 million would take a very long time to reach since we were only seeing around 30K CATS per day before the difficulty increase. Food for thought: For the price per coin to maintain itself, CAT would have to have a 21x greater market cap by the time there are 21 million coins. That is the problem presently plaguing DOGE -- note how the CoinMarketCap.com data does not accurately reflect the experience of DOGE investors, most of whom will have lost money if they invested in DOGE post-Cryptsy.  

Pump and dumpers buy when the price is low. The price is not low at present, it is what the market is prepared to pay for a coin that is about to be forked. The price honestly seems too high to me. There is a ton of resistance before 0.0007, so what is the purpose in paying 0.0006+? If you want in on CATS, you might as well do your part to help prices crash and let everyone who wants out undercut each other. Then when the fork happens, people who genuinely believe in CAT will have CATS and people who don't won't. That is how prices are going to rise, not by discouraging nonbelievers from selling by artificially raising the price now.

I'd be fine with a fork to fix the retargeting issue, but I'm mostly suggesting to people supporting the Bitcoin-in-scrypt idea. If you like the idea, support it by investing in it. Either with hash, or by buying to raise the profitability. You would not need a huge buy order, just bump the price in the right direction. Pump-and-dumpers do it all the time, so don't tell me that it's impossible.

Pump and dumpers create meaningless prices.

If it forks without the BTC specs, it's dead. You might have a 6 hour retarget, which means you'll have bigger problems in the future from ADHD users who stuck around and will dump much harder when it gains its true value.

Either way, who wants a coin driven by a bipolar mining swarm? Seriously.

There are other alt coins doing just fine without being a direct clone of BTC that this comment is completely moot.

Maybe CAT can go the BitBar route and rethink the theoretical max coin amount. It's 21mil, yes? Since the target is already intense, maybe dropping the max will help value rise. While it's below CAT, BitBar are worth 40usd+ a piece. If CAT went from 21mil to maybe 5mil or whatever is agreed upon, value will rise. Anything rare gets more value by default.

Oh boy, you're right about DOGE. It had a huge hype train to ride on, but after that died down a bit, people were on to it with the crazy amount of coins. Cat has bad difficulty and low marketcap working against it. This is turning people away and making the value suffer. If the max amount of coins are lowered, that would at least help the value some I think. I wonder if the dev will be ok with this because 21mil max coins at this rate seems like a bad idea.

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[BitchCoin]

Something must be done, because I will not stand for it.

Joking aside, I desperately want to get my money out from under this coin and put it elsewhere.

[rentarocker]

Volume as percentage of market cap still high.

Many cheap coins have been bought up by whales manipulating CAT.

They haven't crashed the coin though they could have by now.

Graph on Coinmarketcap and other altcoin sites clearly shows a dip to all time low. 

Somethings up.  Holding.

[kisa2005]

GIVE THE CAT MORE HASH GUYS

RECRUIT SOME NEW MINERS YOUR FRIENDS AND TEACH THEM HOW TO MINE. -> GET CAT REWARDS

In Summary -> @kalus
you have multiple good points, and community doesn't expect you and other miners looking to get paid instantly to mine on emotion. I personally appreciate your knowledgeable contribution to this thread.

still, patriotic cat miners could grow in numbers over time, thus making this coin survival from seemingly low probability to almost certain, you can't predict social behavior in probability distributions, there could be WHITE SWAN effects in the society and social networks, which give us some reasonable hope. Independently of that, some white kinght savior might come in, who knows

free markets only work when properly regulated. mine to dump is not a "free" market, its manipulated market and everyone can see that its not working. Business miners may see giving hash to CAT in the current circumstances as altruistic or naive. You say that too many go into CAT emotionally and overhyped? Well, that's actually CAT strength to create new demand in the internet market, it has fantastic brand potential! Overhyped is a matter of perspective. Underhyped also. CAT is unique in a sense, in that its holders have very different and assymetric utility function than the professional miner community and most other coins. Plus they get utility from affection. They dont mind holding with the risk of losing, because if CATcoin works out they are overcompensated for their patience many many many times.


IF the coin survives, which CAN be helped by the community, this will be the best investment of their lifetime. So effectively, its better than lottery, because CAT stakeholders are working to influence the development towards success.

Get in some new hash guys, stay patient!

[dotnetmin]

I´m a bit confused. Will this happen - http://catcoins.org/catcoin-fork/

[fredeq]

I´m a bit confused. Will this happen - http://catcoins.org/catcoin-fork/

I believe it is happening.

Since the code is open source and public, anyone can takeover in absence of dev(I might be wrong on this, confirms?)

[tabsa]

[tabsa]

I´m a bit confused. Will this happen - http://catcoins.org/catcoin-fork/

I believe it is happening.

Since the code is open source and public, anyone can takeover in absence of dev(I might be wrong on this, confirms?)

kr105 is coming online soon and will update the main post.

[sleepless]

I'm glad that it's happening. Don't know how cryptsy will think about it but it's a good thing. We cannot wait 4 month until the difficulty retargets. Till then the coin will be dead.

And maybe - if we'd ever reach the retarget - everyone will start mining again and we'd have the same problem with the next diff.

So why should it be bad?

[zerodrama]

I am adding my proposed changes. Let the best adaptation win.

21 million: should stay the same. If you base the value on the last coin ever 130 years from now you are delusional.
2016 retarget: should stay the same, but it should detect emergencies.
50 coins: should stay the same
10 minutes: should stay the same

[LeoC]

15 million coins total
128 retarget time
5 coins per block
1 minute per block
Coin saved and anyone holding coins pre fork will profit heavily.



Alternatively, additional scripting added to retarget time to dynamically cap difficulty based on net hashrate would be amazing. E.G. net hash of 500mhs max diff = 12, net hash of 5ghs= max diff 120.

[zerodrama]

15 million coins total
128 retarget time
5 coins per block
1 minute per block
Coin saved and anyone holding coins pre fork will profit heavily.



Alternatively, additional scripting added to retarget time to dynamically cap difficulty based on net hashrate would be amazing. E.G. net hash of 500mhs max diff = 12, net hash of 5ghs= max diff 120.

that's not Bitcoin

the dynamic cap is interesting and is what i will be adding.

[koguma]

OSX wallet doesn't work on mavericks.

We have a big (120 CAT) bounty to get it working: http://www.reddit.com/r/catcoins/comments/1tv53y/bounty_working_wallets_on_os_x_linux/

Yesturday, I have a talk with Koguma, I adviced him to try this method https://bitcointalk.org/index.php?topic=380130.msg4153999#msg4153999 till dev is working on MacOS wallet and here is his answer:

It's cool, I just built it from source and it works with the 10.8 QT SDK.  So just fyi, this version is for OSX 10.8+ and 64bit:  http://www.mediafire.com/download/jqywv645kmd5fea/Catcoin-Qt.app.dmg
Thanks!
Koguma

I have not tested it and don't know is it safe...

nice!

(i am too scared to test too)

If you overcome your fear, I accept cat donations: 9VroY2aDodR6ceNuv7ccvoEw5jru9Ks9xe

[LeoC]

15 million coins total
128 retarget time
5 coins per block
1 minute per block
Coin saved and anyone holding coins pre fork will profit heavily.



Alternatively, additional scripting added to retarget time to dynamically cap difficulty based on net hashrate would be amazing. E.G. net hash of 500mhs max diff = 12, net hash of 5ghs= max diff 120.

that's not Bitcoin

the dynamic cap is interesting and is what i will be adding.

The fact that it won't be bitcoin will be its saving grace. The dynamic cap that you say you will be "adding" wouldn't function properly with a retarget time that long and would be easily exploited with proper timing. Even the 128 I proposed is too long, it would need to be 16 or less for it to work properly. Not to be condescending, but please think a little before you post.

There are literally zero scenarios where a BTC clone will be a success in this new generation of altcoins. No one besides maybe a couple of delusional people want BTC specs, which is why no one ever launched a direct clone. If we did things your way, everyone would end up losing, the coin would die, and I will have 5 BTC less in my portfolio, so I am eternally thankful that you arent part of the dev team. Spec balancing is important and lately we have seen every extreme end of the spectrum.

Ultra fast coins like quickcoin, nutcoin, and even dogecoin all have shown that too fast doesnt work and they are just dump coins. Ultra slow coins like Diamond and Catcoin also have shown that these do not work. There needs to be a balance, which is exactly what my specs are, the speed of a fast coin, with the scarcity of a slow coin. Its either this or an eventual death. Until you come to realize that, I'd have to say that your input is a liability.

[TBCM]

I have a faucet ready for this coin. I'll release it to the public after the fork is made and difficulty is stabilized.

[bcrypto]

Will the exchanges follow the fork?

[CatCoinForums]

I have a faucet ready for this coin. I'll release it to the public after the fork is made and difficulty is stabilized.

Thats great, hopefully it all is working nice and dandy

Will the exchanges follow the fork?

Yes, but only if the community helps support this coin x2 the effort what its had already.

i'll be emailing over 350 community members to help support catcoin, i will link them to this thread and they can post for a chance of a giveaway.

www.catcoinforum.com

register to enter.

[VesperPL]

If fork will be already apply to coin I promise that my 2.5Mh/s will return to any cat pool

[mattbigblue]

me too

[fredeq]

Same here