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vondi1122
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January 03, 2014, 07:57:13 PM |
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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.
agreed |
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TheTribesman
Legendary
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Activity: 1019
Merit: 1003
Kobocoin - Mobile Money for Africa
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January 03, 2014, 07:58:00 PM |
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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/Catcoinsorry, 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. But back up to what? $1? Is that what this is all about?? |
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Maverickthenoob
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January 03, 2014, 08:03:14 PM |
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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/Catcoinsorry, 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. But back up to what? $1? Is that what this is all about?? No, really at this point this is about making it so people actually want to put hash on this coin so we can get confirms going reliably. This is more about ensuring the primary function of the coin works and less about money. The value aspect will figure itself out eventually. People seem to think it's all a bunch of speculation when really, the coin is just broken. If we update it, we fix it and we just move right along, whatever the value is after that who knows. |
Board of Directors - Catcoin
Personal: CAT: 9pndWw3qmPiWm2jQRw5pRAVEfJN4LzaD1f BTC: 1Jo1394CraTgC8bKFzDdEMdks2DroB6VBe
CAT Dev Donation CAT: 9gZpz58KzYr1WKBN8DfPkZPAEt5wfZ4UKT BTC: 1MeRkKfRRfC86BQWEx5gsq68bDHe7dgs3o
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BitchCoin
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January 03, 2014, 08:04:57 PM |
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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.....so OP is a fag...? |
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CatCoinForums
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Activity: 98
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January 03, 2014, 08:06:25 PM |
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Guys, lets just ignore this "Kalus".. i've read two pages of him flaming at members and making no sense at all. Leaving that behind, im looking forward to this forking hopefully happening and i think the community also agrees with me here   Long live Catcoin! looking forward to kr105's reply to this matter. Kind regards! |
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TheTribesman
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Kobocoin - Mobile Money for Africa
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January 03, 2014, 08:09:31 PM |
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A question? After the fork, what will be the USP? It looks like we're giving up our current USP (which is the reason why it's such a respected newcomer). Won't Catcoin just become another mid-table Dogecoin competitor?
What's it's USP after the fork?
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TheTribesman
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January 03, 2014, 08:14:07 PM |
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It is always about the $ value. It's the reason miners will come back, the reason hash rate will grow. Short term gain may affect future performance. I'm neither for or against the fork. I just hope everyone's doing this with their eyes open.
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envy2010
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January 03, 2014, 08:15:05 PM |
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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.
....so OP is a fag...? More likely the wanted to replicate BTC's success, but forgot that BTC started in a CPU-only mining world. If he used a GPU-resistant algo it might have worked, but there is too much hash out there to replicate BTC in scrypt. |
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CatCoinForums
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January 03, 2014, 08:15:45 PM |
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Thank you kr105 for updating the thread. Great to hear that this news is confirmed. Long-Live catcoin!
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Maverickthenoob
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January 03, 2014, 08:16:10 PM |
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It is always about the $ value. It's the reason miners will come back, the reason hash rate will grow. Short term gain may affect future performance. I'm neither for or against the fork. I just hope everyone's doing this with their eyes open.
The coin is dead if we don't do this. no confirms, and low hash mean it's useless and will remain that way. This really isn't a matter of choice. Basically all that's going to change is the diff will recalculate more often than it does now, that is all. |
Board of Directors - Catcoin
Personal: CAT: 9pndWw3qmPiWm2jQRw5pRAVEfJN4LzaD1f BTC: 1Jo1394CraTgC8bKFzDdEMdks2DroB6VBe
CAT Dev Donation CAT: 9gZpz58KzYr1WKBN8DfPkZPAEt5wfZ4UKT BTC: 1MeRkKfRRfC86BQWEx5gsq68bDHe7dgs3o
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kr105 (OP)
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January 03, 2014, 08:16:52 PM |
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Whatever will happen next, the fork will be made on block 20,290, it is decided already. So stop bitching and prepare for the switch or you will be left behind. Read the updated OP for more info.
Happy new cat-year btw!
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tuaris
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January 03, 2014, 08:18:13 PM |
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This is a bad idea.
Everyone always wants instant gratification.
I'm very disappointed in Catcoin.
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zerodrama
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January 03, 2014, 08:21:22 PM |
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Whatever will happen next, the fork will be made on block 20,290, it is decided already. So stop bitching and prepare for the switch or you will be left behind. Read the updated OP for more info.
Happy new cat-year btw!
21 BLOCKS TO GO
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EASY CALCULATION FOR TRADES: 1 Million is 1x10e6. 1 Satoshi is 1x10e-8. 1 M sat is 1x10e-2. 100 M sat is 1. If 1 herpcoin = 100 derptoshi then 1 M herpcoin @ 001 derptoshi = 0.01 derpcoin, 1 M herpcoin @ 100 derptoshi = 1.00 derpcoin Post Scarcity Economics thread https://bitcointalk.org/index.php?topic=3773185 |
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NyanCat
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January 03, 2014, 08:22:50 PM |
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Only person who does not know cryptocoins can say fork in this case is a bad idea.
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CatCoinForums
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January 03, 2014, 08:23:38 PM |
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Whatever will happen next, the fork will be made on block 20,290, it is decided already. So stop bitching and prepare for the switch or you will be left behind. Read the updated OP for more info.
Happy new cat-year btw!
21 BLOCKS TO GO
21 blocks is how many days lol?? |
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crypt_zombie
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January 03, 2014, 08:24:06 PM |
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Whatever will happen next, the fork will be made on block 20,290, it is decided already. So stop bitching and prepare for the switch or you will be left behind. Read the updated OP for more info.
Happy new cat-year btw!
Excellent, people who don't agree with the fork can just not update their wallet. There is no more need to argue about the fork. |
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overseerio
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January 03, 2014, 08:25:13 PM |
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A question? After the fork, what will be the USP? It looks like we're giving up our current USP (which is the reason why it's such a respected newcomer). Won't Catcoin just become another mid-table Dogecoin competitor?
What's it's USP after the fork?
The intention has always been, and always will be, to have a max supply at 21 million, with blocks every ~10 minutes and a reward halving interval of 210,000 blocks. The fork will in fact put us back on target to hit this -- the big issue right now is the block time, which has jumped to ~90 minutes with no reprieve until ~4 months from now; after the fork, we will enjoy much more consistent ~10 minute blocks and therefore a chance of hitting the reward halving milestones on time. |
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Maverickthenoob
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January 03, 2014, 08:26:44 PM |
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Whatever will happen next, the fork will be made on block 20,290, it is decided already. So stop bitching and prepare for the switch or you will be left behind. Read the updated OP for more info.
Happy new cat-year btw!
Excellent, people who don't agree with the fork can just not update their wallet. There is no more need to argue about the fork. And they will be on an invalid thread. The exchanges are going to follow only one version of cat, the other chain will get orphaned. Edit: I should clarify, anybody who is on a pool that has agreed to update to the new chain will not be affected by this at all, just mine as usual. Eventually you will need to download the new wallet before you can actually spend the funds. Most of the pool owners have agreed to post notices of both agreement to the change as well as download sof the new binary. A few people hosting nodes have already agreed to this as well. If all goes well, very few people should be left on the old chain. |
Board of Directors - Catcoin
Personal: CAT: 9pndWw3qmPiWm2jQRw5pRAVEfJN4LzaD1f BTC: 1Jo1394CraTgC8bKFzDdEMdks2DroB6VBe
CAT Dev Donation CAT: 9gZpz58KzYr1WKBN8DfPkZPAEt5wfZ4UKT BTC: 1MeRkKfRRfC86BQWEx5gsq68bDHe7dgs3o
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overseerio
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January 03, 2014, 08:26:49 PM |
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21 blocks is how many days lol??
Assuming ~90 minute blocks, it'll happen in about 31 hours, or around ~4 am UTC on Sunday, January 5. See here: http://catcoins.biz/#fork |
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CatCoinForums
Member
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January 03, 2014, 08:30:31 PM |
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21 blocks is how many days lol??
Assuming ~90 minute blocks, it'll happen in about 31 hours, or around ~4 am UTC on Sunday, January 5. See here: http://catcoins.biz/#fork. |
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