[ANN] Catcoin - Scrypt meow!

[zerodrama]

THERE IS NO FUCKING POINT to mine a currency that is to be FORKED in a day!

Bullshit. You just mine. And they confirm. Simple.
And Bitcoin would have failed today with 2016. I had a different idea but I can negotiate.

YOU DO NOT LOSE COINS IN A HARD FORK. WHATEVER YOU MINE YOU WILL STILL GET.

[1714736150]

1714736150

[1714736150]

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[kalus]

it is fucked now if we don't fix the retarget. Blocks should be mined at 10 minutes a block on average. Right now it's getting to 90 mins and more.

proof here, just look at the blocktimes: http://catchain.info/chain/Catcoin

sorry, speculators dug you into this hole. wait it out.  

THE WAIT IS 90 minutes * 2016 = 181440 minutes / 60 = 3024 hours / 24 = 126 days.

Wait it out. LOL.

it took bitcoin more than 126 days to reach $0.05USD.

you rode the express train up, and now you're LOL you have to 'wait it out'?  

you support my argument that sustainable, long-term growth in the currency is not what most people want.  

after the fork, the catcoin community will see a small jump in the price, then this investor type will jump ship for the next profitable coin.

[ubermoose]

it is fucked now if we don't fix the retarget. Blocks should be mined at 10 minutes a block on average. Right now it's getting to 90 mins and more.

proof here, just look at the blocktimes: http://catchain.info/chain/Catcoin

sorry, speculators dug you into this hole. wait it out.  

everyone got into catcoin agreed on the protocol, retargets, block times, reward schedules, and total number of coins.  We all went through the information provided, and agreed this was the common protocol we would use.  

now that there is money in catcoin, a small, but vocal minority want to change catcoin to benefit themselves financially, under the guise of 'we must fix the retarget'.  essentially, changing the rules everyone agreed on when they got into catcoin.

if everyone was so concerned about a fucked up retarget, we should have talked about that BEFORE the fucking coin was launched.  

please note:  catcoin blocktimes are in the shitter because for a miner,THERE IS NO FUCKING POINT to mine a currency that is to be FORKED in a day!   your own self-fulfilling prophecy.

I would maybe get what you're saying if we were about to change block rewards or something else which would affect coin supply and therefore coin value. Fixing the retarget time is just adjusting to the glaring block time issue, which was showing before there was any talk about a fork. This was brought up because of the issues, not the other way around.

[kalus]

THERE IS NO FUCKING POINT to mine a currency that is to be FORKED in a day!

Bullshit. You just mine. And they confirm. Simple.

lol didn't you just say

the coins are not confirming. i have 10 coins mined and unconfirmed for several days.

ahahaha i call bullshit on your somatic bullshit.  

YOU DO NOT LOSE COINS IN A HARD FORK. WHATEVER YOU MINE YOU WILL STILL GET.

however, what motivates a miner to mine right now when they know the difficulty will drop the next day?  why not mine something profitable today?  by stating you'll drop the difficulty to  bring miners back, in effect signals to the mining community they're losing money if they do ANY more pre-fork mining.  

self-fulfilling prophecy!

[Nullu]

it is fucked now if we don't fix the retarget. Blocks should be mined at 10 minutes a block on average. Right now it's getting to 90 mins and more.

proof here, just look at the blocktimes: http://catchain.info/chain/Catcoin

sorry, speculators dug you into this hole. wait it out.  

THE WAIT IS 90 minutes * 2016 = 181440 minutes / 60 = 3024 hours / 24 = 126 days.

Wait it out. LOL.

it took bitcoin more than 126 days to reach $0.05USD.

you rode the express train up, and now you're LOL you have to 'wait it out'?  

you support my argument that sustainable, long-term growth in the currency is not what most people want.  

after the fork, the catcoin community will see a small jump in the price, then this investor type will jump ship for the next profitable coin.

No. The investors will stay. The pump and dumpers will go. Once the coin's difficulty can change more quickly based on the hashrate, the coin's value will be more directly proportional to the difficulty; if the value goes down, THE COIN BECOMES EASIER TO MINE. Right now this isn't possible. After the fork it will be.

We're stuck because we can't get out of the current difficulty. If the coin does lose value, because of the change after the fork it will become profitable to mine, which then brings back more hashpower, more miners, and the value goes back up.

[zerodrama]

it is fucked now if we don't fix the retarget. Blocks should be mined at 10 minutes a block on average. Right now it's getting to 90 mins and more.

proof here, just look at the blocktimes: http://catchain.info/chain/Catcoin

sorry, speculators dug you into this hole. wait it out.  

THE WAIT IS 90 minutes * 2016 = 181440 minutes / 60 = 3024 hours / 24 = 126 days.

Wait it out. LOL.

it took bitcoin more than 126 days to reach $0.05USD.

you rode the express train up, and now you're LOL you have to 'wait it out'?  

you support my argument that sustainable, long-term growth in the currency is not what most people want.  

after the fork, the catcoin community will see a small jump in the price, then this investor type will jump ship for the next profitable coin.

People do not want to wait for COINS to ARRIVE.
They want them now.
They're no good BEING unconfirmed.
Multicoin Miners are not HOLDING onto them.
Multicoin Miners want fiat.

There is no POINT for twitchy miners to MINE a STUCK coin. They are NOT INVESTORS.

[kalus]

No. The investors will stay. The pump and dumpers will go. Once the coin's difficulty can change more quickly based on the hashrate, the coin's value will be more directly proportional to the difficulty; if the value goes down, THE COIN BECOMES EASIER TO MINE. Right now this isn't possible. After the fork it will be.

can you tell me how you will throw out pumpers and dumpers?  the market cap itself, not the protocol, makes the coin vulnerable to pumping-and-dumping.  you can't find a technological solution to a social problem.  

can anybody explain how these fundamental changes will exclude pumping and dumping?  the rest of wallstreet would also like to hear about your idea.  

[ZBBBB]

Everyone needs to chillax, it's happening Meow whether you like it or not. People can bitch all day but what is going to happen is going to happen. Everyone was balls to the wall at the start and supportive, we all need to get behind what is going to happen or feel free to see my wallet below to get rid of your useless Cats.

[Nullu]

I've basically outlined exactly why the Fork will save Catcoin. Those who are against the Fork are not provided any sound economic hypothesis as to why it's a bad idea, except that we'll get another pump and dump; everyone altcoin gets pumped and dumped. Catcoin's been through it a few times already, and still kicking. Pump and dumps can kill an altcoin, yet here we are, still with an active community and a sound plan to save the coin, and it's still all doom and gloom in here.

After the fork we can finally get Catcoin mined again and some real stimulus in this currency.

[NyanCat]

https://bitcointalk.org/index.php?action=profile;u=12229

Last Active: Today at 06:12:26 PM

No post, no info. Totally irresponsible person.

[zerodrama]

THERE IS NO FUCKING POINT to mine a currency that is to be FORKED in a day!

Bullshit. You just mine. And they confirm. Simple.

lol didn't you just say

the coins are not confirming. i have 10 coins mined and unconfirmed for several days.

After the fork it will be faster.

however, what motivates a miner to mine right now when they know the difficulty will drop the next day?  why not mine something profitable today?  by stating you'll drop the difficulty to  bring miners back, in effect signals to the mining community they're losing money if they do ANY more pre-fork mining.  
self-fulfilling prophecy!

It doesn't SIGNAL anyTHING. The miners let the POOL decide for them. Most twitch miners aren't watching the blinkenlites. They are out skiing in the snow. They are not babysitting their mining.

[kalus]

Most twitch miners aren't watching the blinkenlites. They are out skiing in the snow. They are not babysitting their mining.

really?  hang out in the middlecoin thread for a few minutes. 

[Nullu]

No. The investors will stay. The pump and dumpers will go. Once the coin's difficulty can change more quickly based on the hashrate, the coin's value will be more directly proportional to the difficulty; if the value goes down, THE COIN BECOMES EASIER TO MINE. Right now this isn't possible. After the fork it will be.

can you tell me how you will throw out pumpers and dumpers?  the market cap itself, not the protocol, makes the coin vulnerable to pumping-and-dumping.  you can't find a technological solution to a social problem.  

can anybody explain how these fundamental changes will exclude pumping and dumping?  the rest of wallstreet would also like to hear about your idea.  

They won't. Pumping and dumping will continue, like with all other altcoins. The difference will be that the coin will also have a chance to grow longterm. Every altcoin, like stock, goes through phases. Unavoidable. At least we'll have a coin that's growing, rather than declining. That's the difference between a good or bad altcoin. Pumpers and dumpers are part and parcel of the free market.

[Gorbash]

Kalus
At current diff, re-target will happen in 4 months.
If the Hashrate go down even more (and it will, as mining is not profitable), you will need loads of time (days?) to get any confirmation on sent coins (sent anywhere...from pool to wallet, from wallet to exchange).
If Hashrate go down even more (and it will, as mining is not profitable), 4 months needed to re-target atm will change into year or more.

Who will then use or buy this coin and for what purpouse?

[Nullu]

https://bitcointalk.org/index.php?action=profile;u=12229

Last Active: Today at 06:12:26 PM

No post, no info. Totally irresponsible person.

It's already been stated he's having difficulty getting on the forum due to the timeouts. He's been active on the IRC channel.

[envy2010]

it took bitcoin more than 126 days to reach $0.05USD.

And during that time you could mine 10 BTC in a few hours with a single CPU thread, and have them confirmed in an hour. BTC would be dead at launch in today's environment (as CAT pretty much proves).

The next retarget will NEVER be reached by the current wallet users. CAT is dead until it's forked, because it currently can't be mined, traded, spent, bought, or given away, or anything else you do with a currency.

[Maverickthenoob]

. i mean half of you haven't had anything to say until maybe 2 days ago
and all this talk of market crash.
blah blah bullshit
it's a week old and $0.50 usd it saw $1.00usd it's first day in trade
there are 1000000+ coins plenty liquid
do any of you know how long it's taken bitcoin to touch any of that?
so anybody trying to speak on behalf of me for forking is talking out their ass
cause i think it's the wrong move.

+1

The person you have quoted has no business being +1'd for anything he said. It's all bullshit speculation that doesn't actually mean anything.

+1 means i agree with him, you fuck.

as you have admirably demonstrated, opinions are like assholes.

I can show you mathmatically that this coin is fucked, as-is. who are you going to believe?

ok, show us mathematically that this coin is fucked.  please provide proofs.  

please start with a mathetmatical proof that catcoin is instrinsically worth 0.50usd-1.00usd on the first day of trade.  i'm sure we'd all fucking love to see the mathematical justification for that fairytale.  

The personal attacks are unnecessary. I'm well aware you agree with him, I'm also well aware that it is world class levels of stupid TO agree with him.

The math is simple, lets see if you can follow it.

First off, the price speculation is irrelevant at this point, but the coin is high block time low reward, which inherently makes it more valuable than spamcoins, like doge, at least on a per unit basis. This is common sense. What's most important out of this is The coin isn't getting confirmations which essentially means it's dead. Putting that aside for a moment, lets look at the numbers that prove that:

There are 2016 blocks between retargets currently, we are on block 20269 and the retarget is 22176, meaning we have 1907 blocks remaining before the difficulty returns to normal levels. At the current hashrate (assuming it doesn't drop like a rock, which it is) at the current rate of a block every 1.5 hours (avg over last 12 hours), that means we have just a little over 119 days until the diff unfucks itself, people are NOT going to wait around that long mining an unprofitable coin.

It also means that transactions are taking a minimum of 4.5 hours to confirm to the exchanges and NINTY hours to confirm from even the shortest pools. This is unsustainable, and if you see it any other way you should get yourself checked for delusion.

We are not changing anything about the currency other than letting the difficulty recalibrate more often, protecting us from the huge pools that hop around. I'm really not sure why you're so angry about this, there's just no other way to keep this coin alive.

[zerodrama]

No. The investors will stay. The pump and dumpers will go. Once the coin's difficulty can change more quickly based on the hashrate, the coin's value will be more directly proportional to the difficulty; if the value goes down, THE COIN BECOMES EASIER TO MINE. Right now this isn't possible. After the fork it will be.

can you tell me how you will throw out pumpers and dumpers?  the market cap itself, not the protocol, makes the coin vulnerable to pumping-and-dumping.  you can't find a technological solution to a social problem.  

can anybody explain how these fundamental changes will exclude pumping and dumping?  the rest of wallstreet would also like to hear about your idea.  

The market cap is VUDU. Wall Street is irrelevant. Coins evolve a bazillion times faster than Wall Street. Miners are either partying or earning a living. The latter group doesn't care about the Market Cap or the future value or the coin at ALL. All they care about is mining and selling.

They will exclude dumpers because the dumpers will have a MUCH shorter time to sell their cheap coins and those WHO are holding will have a much shorter time to suffer through it.

[kalus]

I've basically outlined exactly why the Fork will save Catcoin. Those who are against the Fork are not provided any sound economic hypothesis as to why it's a bad idea.

first, by changing the parameters of catcoin, you won't save catcoin, you'll replace it with another coin that is also named catcoin. the catcoin that we all invested in a week ago will not exist anymore.  

second, the economics of changing the currency when we feel it isn't worth as much as it should be, and it's too difficult to wait 126 days for a redifficulty adjustment:  these are not economic arguments either:  they play on people's lack of patience.  

[kalus]

Coins evolve a bazillion times faster than Wall Street.

by evolving, we do not change one species into another:  one species replaces another.  

if you want to change catcoin and talk about evolution, then start a new coin.  there seem to be a shitload more coins coming this week anyway.  

The latter group doesn't care about the Market Cap or the future value or the coin at ALL. All they care about is mining and selling.

seriously?  market cap tells you which coins are vulnerable to a single whale, or a group of whales pumping and dumping a coin buy hoovering all the cheap sell orders up, ratcheting the price, and dropping it. 

a large market cap prevents a single agent from acting in such a way.  do you not understand that a larger market cap means stability?