[ANN] Catcoin - Scrypt meow!

[envy2010]

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.  

The catcoin you invested in a week ago will be dead with or without the fork; at least with the fork they will still part of a viable blockchain instead of virtual paperweights.

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.  

People aren't going to pour hash (which is time, money, power, and opportunity cost) into something that may or may not come back to life in 4 months, and is essentially useless in the meantime. Hashrate will keep dropping and the retarget will be 6 months away, then a year, and then never.

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[zerodrama]

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.  

THE RETARGET DOES NOT DEFINE THE COIN.

Only reward, max coins, and block rate do.

THE COIN IS NOT BEING REDEFINED.

It will still be:
10 MINUTES
50 COINS
21 MILLION

2016 is a choice MEANT to maintain the 10 MINUTES block rate.

It means nothing otherwise. I had a different idea, but I'm ok with the change.

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.  

NO ONE CAN SEND COINS. IT'S USELESS WITHOUT BEING ABLE TO SEND.

I'm glad you can sit on a 1000 coins for 2 years. None of the people YOU depend on (THE MINERS) want to. Grow up. The bus driver does can't wait for YOU to get on the bus.

[kalus]

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.

you are changing the exact protocols which made people invest in the coin in the first place.  the numbers show that we need time to catch up with the current difficulty retarget, nothing more.  

do you think people honestly buy this coin becuase of the fucking cartoon cat?

we just saw a huge rise in price that was not justified by any value or usefuleness of the coin.  nobody uses the coin for anything other than speculation.

now, we just need to wait for everything to catch up.  guess what?  you bought into your own hype, and learned things of no value shouldn't shoot up in value that quickly.  that's the market making up for catcoin's noob mistake.  

Do you normally change the rules of the game after the game has started, if you realize your team is losing?

[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.

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.  

I urge you to fully comprehend what is actually being changed here. The only thing that is changing is the difficulty readjustment time, which is the time it takes until the difficulty is recalculated; the shorter the time the more dynamic the difficulty of mining the coin can change.

The coin is too damn slow. The rewards and amount of coins is staying the same. This is a fix to correct something that is broken. This is NOT changing Catcoin itself.

[zerodrama]

you are changing the exact protocols which made people invest in the coin in the first place.  the numbers show that we need time to catch up with the current difficulty retarget.  
do you think people honestly buy this coin becuase of the fucking cartoon cat?
we just saw a huge rise in price that was not justified by any value or usefuleness of the coin.  nobody uses the coin for anything other than speculation.
now, we just need to wait for everything to catch up.  guess what?  you bought into your own hype, and guess what?  things of no value shouldn't shoot up in value that quickly.  that's the market making up for catcoin's noob mistake.  
Do you normally change the rules of the game after the game has started, if you realize your team is losing?

THE 2016 IS NOT PART OF THE PROTOCOL.

IT'S PART OF MAINTAINING THE PROTOCOL.

When your car gets to a certain mileage, YOU CHANGE THE OIL.

2016 is the OIL.
10 MINUTES is the reaction time of the brakes and the gas pedal.
21 MILLION is the mass of the vehicle.
50 COINS is the gasoline.

You don't dump a car cuz you CHANGED the OIL.

[kalus]

The coin is too damn slow. The rewards and amount of coins is staying the same. This is a fix to correct something that is broken. This is NOT changing Catcoin itself.

the coin was not too damn slow when people were making money.

we should start to examine the real reasons most people want to change the coin.  

[Gorbash]

the coin was not too damn slow when people were making money.
we should start to examine the real reasons most people want to change the coin.  

Correct. It was not too slow, because of the hash power of the network
and the full circle is done. Congrats  

broken coin need a fix, otherwise it won't be usable for next year or so...but I do not think that would make you sad, right?

[Mikellev]

So if fork comes, its 2 am in the night for poolerino.com

Did send kr105 a PM. Hopefully we can work something out for that....

Mike

[vondi1122]

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.

this

[kalus]

the coin was not too damn slow when people were making money.
we should start to examine the real reasons most people want to change the coin.  

Correct. It was not too slow, because of the hash power of the network
and the full circle is done. Congrats 

because people are pissed that they aren't making money.

[kalus]

50 COINS is the gasoline.

You don't dump a car cuz you CHANGED the OIL.

oh great, a car analogy used to describe computers.

go back to best buy. 

[zerodrama]

KALUS: I want to buy things with CATS. I can't BUY things with CATS if they are slow.

I am not dumping.

But I want to USE them.

They cannot be used.


THE 2016 IS NOT PART OF THE PROTOCOL.

IT'S PART OF MAINTAINING THE PROTOCOL.

When your car gets to a certain mileage, YOU CHANGE THE OIL.

2016 is the OIL.
10 MINUTES is the reaction time of the brakes and the gas pedal.
21 MILLION is the mass of the vehicle.
50 COINS is the gasoline.

You don't dump a car cuz you CHANGED the OIL.

[zerodrama]

50 COINS is the gasoline.

You don't dump a car cuz you CHANGED the OIL.

oh great, a car analogy used to describe computers.

go back to best buy. 

Computers are not moving objects.
Coins are moving objects.
Cars are moving objects.

You argued that 2016 is the protocol.
It is not.
You sir are talking out of your ass.

[zerodrama]

the coin was not too damn slow when people were making money.
we should start to examine the real reasons most people want to change the coin.  

Correct. It was not too slow, because of the hash power of the network
and the full circle is done. Congrats 

because people are pissed that they aren't making money.

No, they are pissed that THEY can't USE the MONEY they MADE.

I don't give a crap about FIAT.


THE 2016 IS NOT PART OF THE PROTOCOL.

IT'S PART OF MAINTAINING THE PROTOCOL.

When your car gets to a certain mileage, YOU CHANGE THE OIL.

2016 is the OIL.
10 MINUTES is the reaction time of the brakes and the gas pedal.
21 MILLION is the mass of the vehicle.
50 COINS is the gasoline.

You don't dump a car cuz you CHANGED the OIL.

[envy2010]

THE 2016 IS NOT PART OF THE PROTOCOL.

IT'S PART OF MAINTAINING THE PROTOCOL.

The 2016 block retarget is an important property of the coin, in that it determines exactly how the coin reacts dynamically. The dynamics of Catcoin are far too slow for the current crypo environment. It stabilized much to slowly and badly overshot the target difficulty established by market value.

Retargets are heavily influenced by the amount of flexible hashpower that can be turned on the coin. The slow response works (and worked) for BTC because doubling the net hash in less than one retarget time was never feasible. For CAT one multipool can make a 10x increase, this has to be accounted for on the coin can't survive.

[ubermoose]

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.

you are changing the exact protocols which made people invest in the coin in the first place.  the numbers show that we need time to catch up with the current difficulty retarget, nothing more.  

do you think people honestly buy this coin becuase of the fucking cartoon cat?

we just saw a huge rise in price that was not justified by any value or usefuleness of the coin.  nobody uses the coin for anything other than speculation.

now, we just need to wait for everything to catch up.  guess what?  you bought into your own hype, and learned things of no value shouldn't shoot up in value that quickly.  that's the market making up for catcoin's noob mistake.  

Do you normally change the rules of the game after the game has started, if you realize your team is losing?

So, you're saying we can't change anything because we agreed on these parameters. But either way one of them is wrong. Right now the block time is not at 10 minutes. So, did people invest in 2016 block retarget time or a 10 minute block time? We have to choose which one is more important. Since the block time right now is actively preventing people from using the coin, I'd say it's more reasonable to change the parameter that exists primarily to keep the other value stable.

[tabsa]

So if fork comes, its 2 am in the night for poolerino.com

Did send kr105 a PM. Hopefully we can work something out for that....

Mike

The updated source code will be released earlier than the fork, so everyone can update before the diff change.

[vondi1122]

50 COINS is the gasoline.

You don't dump a car cuz you CHANGED the OIL.

oh great, a car analogy used to describe computers.

go back to best buy. 

why the hate, bro?

[zerodrama]

THE 2016 IS NOT PART OF THE PROTOCOL.

IT'S PART OF MAINTAINING THE PROTOCOL.

The 2016 block retarget is an important property of the coin, in that it determines exactly how the coin reacts dynamically. The dynamics of Catcoin are far too slow for the current crypo environment. It stabilized much to slowly and badly overshot the target difficulty established by market value.

Retargets are heavily influenced by the amount of flexible hashpower that can be turned on the coin. The slow response works (and worked) for BTC because doubling the net hash in less than one retarget time was never feasible. For CAT one multipool can make a 10x increase, this has to be accounted for on the coin can't survive.

2016 is an important part of the HOMEOSTASIS of the system not the SPECIES of the system.

[Maverickthenoob]

THE 2016 IS NOT PART OF THE PROTOCOL.

IT'S PART OF MAINTAINING THE PROTOCOL.

The 2016 block retarget is an important property of the coin, in that it determines exactly how the coin reacts dynamically. The dynamics of Catcoin are far too slow for the current crypo environment. It stabilized much to slowly and badly overshot the target difficulty established by market value.

Retargets are heavily influenced by the amount of flexible hashpower that can be turned on the coin. The slow response works (and worked) for BTC because doubling the net hash in less than one retarget time was never feasible. For CAT one multipool can make a 10x increase, this has to be accounted for on the coin can't survive.

Finally. A hundred times THIS.