[ANN] Catcoin - Scrypt meow!

[BroTroxer]

well, guess there goes that....

Only liked this coin because it basically was Bitcoin Scrypt.

Time to dump my Crypsty stash!

GLTA

Got to speculate to accumulate. Certainly don't blame you, though. Could go either way. I took the gamble and bought up while it's cheap. Others are selling.

If I were a betting man, I'd say the odds were 50/50, with a multiplier 5x.

I don't gamble. Unless you consider this gambling, I suppose it is in a way. Oh well, at least I'm having fun.

The higher the risk, the better the payouts. Ladies and gentlemen, place your bets.

[1714714712]

1714714712

[Nullu]

well, guess there goes that....

Only liked this coin because it basically was Bitcoin Scrypt.

Time to dump my Crypsty stash!

GLTA

Got to speculate to accumulate. Certainly don't blame you, though. Could go either way. I took the gamble and bought up while it's cheap. Others are selling.

If I were a betting man, I'd say the odds were 50/50, with a multiplier 5x.

I don't gamble. Unless you consider this gambling, I suppose it is in a way. Oh well, at least I'm having fun.

The higher the risk, the better the payouts. Ladies and gentlemen, place your bets.

If you think you're betting, then only bet what you can afford to lose. I've been at this a week. I've only accrued about 0.5 BTC, but I started with nothing, so I haven't got a lot to lose.

[tx42]

All these wankers claiming they are going to dump their cats. But I don't see any sell orders.

Where are your sell orders?

[rentarocker]

And up we go 

[Damnsammit]

All these wankers claiming they are going to dump their cats. But I don't see any sell orders.

Where are your sell orders?

I'm at work... Cryptsy doesn't like my work computer.

Oh well, I will hold, but really disappointed in the changing of the coin.  It was more appealing the way that it was before, IMO.

[zerodrama]

well, guess there goes that....

Only liked this coin because it basically was Bitcoin Scrypt.

Time to dump my Crypsty stash!

GLTA

ONLY THE RETARGET IS CHANGING.

It's still Bitcoin in Scrypt.

10 Minutes defines BTC

With the WRONG retarget PERIOD it is not 10 MINUTES.

[etblvu1]

Mark my words - this will lead to endless cycles of a 12-24 hours at high difficulty (e.g., 30 minute block time x 36 = 18 hours), followed by very easy difficulty for less than an hour (e.g., 1 minute block time x 36 = 36 minutes) during which time miner-dumpers will put massive hashing power to get cheap catcoins and dump on the markets, followed again by 12-24 hours at high difficulty when loyal miners suffer, and repeat over and over again. Just a speeded up version of the same problem. Coin prices languish. The problem is the oscillation with the inherent temporary high hash power combined with dumping of the cheaply mined coins, at the expense of loyal miners - and not just the particular unrealistically high difficulty phase / slow confirm times. High difficulty is merely a symptom.

And why reset to difficulty=16? We had too much mining going on (like 1 per minute or faster) when the difficulty was at 64. Faster confirm times means more coins being mined and dumped. This may temporarily pump up the coin value from the excitement, but look at the past week of DOGE prices, for a taste of what this excitement leads to. And what's with the "poll" that was open for only 4 hours? I go to sleep, wake up, and find my vote isn't counted. This smells like consensus manipulation.

I agree with the sentiment that changing block readjust parameter is changing the rules of the game after starting. My proposal for adding a Loyalty Credit is at least designed to restore normality, where under most circumstances 2016 blocks for readjusting, and 50 blocks per block solved, (and all the other parameters), would continue, minus the crazy difficulty swings.

But if the original developer has bought in, very well, I expect the coin prices to recover somewhat, and we will go from an underperforming coin (I believe based on FUD) with at least an intact soul, to a yet-another-mine-and-dump-altcoin, which in some particular sense is an improvement. Prices will probably go up somewhat, I will not dump CATs right now for this reason - a purely economic reason. But the decision to address only the symptoms is disappointing, in that now there is no particular reason why CAT is special anymore. It's like an artist selling out his soul, to get a respectable entry level job in middle management, giving up music, because his family harraged him about his slow rate of earning income, but at the cost of his potential to become a star.

Etblvu1

[CheekyChappy]

Catcoin and Kittehcoin must be shaking in their boots at Dogecoin 

[Nullu]

Mark my words - this will lead to endless cycles of a 12-24 hours at high difficulty (e.g., 30 minute block time x 36 = 18 hours), followed by very easy difficulty for less than an hour (e.g., 1 minute block time x 36 = 36 minutes) during which time miner-dumpers will put massive hashing power to get cheap catcoins and dump on the markets, followed again by 12-24 hours at high difficulty when loyal miners suffer, and repeat over and over again. Just a speeded up version of the same problem. Coin prices languish. The problem is the oscillation, not the particular unrealistically high difficulty phase. High difficulty is merely the symptom.

And why reset to difficulty=16? We had too much mining going on (like 1 per minute or faster) when the difficulty was at 64. Faster confirm times means more coins being mined and dumped. This may temporarily pump up the coin value from the excitement, but look at the past week of DOGE prices, for a taste of what this excitement leads to. And what's with the "poll" that was open for only 4 hours? I go to sleep, wake up, and find my vote isn't counted. This smells like consensus manipulation.

I agree with the sentiment that changing block readjust parameter is changing the rules of the game after starting. My proposal for adding a Loyalty Credit is at least designed to restore normality, where under most circumstances 2016 blocks for readjusting, and 50 blocks per block solved, (and all the other parameters), would continue, minus the crazy difficulty swings.

But if the original developer has bought in, very well, I expect the coin prices to recover somewhat, and we will go from an underperforming coin (I believe based on FUD) with at least an intact soul, to a yet-another-mine-and-dump-altcoin, which in some particular sense is an improvement. Prices will probably go up somewhat, I will not dump CATs right now for this reason - a purely economic reason. But the decision to address only the symptoms is disappointing, in that now there is no particular reason why CAT is special anymore. It's like an artist selling out his soul, to get a respectable entry level job in middle management, giving up music, because his family harraged him about his slow rate of earning income.

Etblvu1

Your hypothesis only has merit if you assume miners are a coordinated entity. They are not. There are too many miners for it to oscillate. They'd all be competing with another other. It would just smear out, or the dips would be low.

They'll all be waiting for the difficulty to lower, and none of them will pick the same time to jump in. There's a limit to how low it would drop until opportunism kicks in.

[lightfoot]

Kimcoin? Every 32 blocks it kills random amounts of minted coin.

Anyway, does one have to redownload the cpuminer when the block splits? Or just the wallet?

C

[Nullu]

Kimcoin? Every 32 blocks it kills random amounts of minted coin.

Anyway, does one have to redownload the cpuminer when the block splits? Or just the wallet?

C

Just the wallet. If you're on a pool that's switching, then all you do is keep pool mining. If you're solo mining, you just update your wallet. the roaming data folder shouldn't need to change.

[etblvu1]

Your hypothesis only has merit if you assume miners are a coordinated entity. They are not. There are too many miners for it to oscillate. They'd all be competing with another other. It would just smear out, or the dips would be low.

They'll all be waiting for the difficulty to lower, and none of them will pick the same time to jump in. There's a limit to how low it would drop until opportunism kicks in.

That's just a simple software problem. Miner-dumper coders will sooner or later figure out how to write a program to watch the blockchain and switch into mining at the precise moment to maximize accumulating cheap Catcoins, and stop mining the coin, just as the high difficulty phase kicks back in - and also do the same for the other hyper-adjusting altcoins. I suspect this kind of program is already written, but being hoarded by miner-dumpers who think they have a trade secret on easy money mining, but it will become widely distributed soon, and the instant switch-on instant switch-off effect will become more pronounced. Miner-dumpers are after maximum profit, and this relatively simple logic would accomplish maximizing profits. The only solution to this is to fix the perverse incentive that is coded into the coin code, to engage in this behavior. If this is not going to be done, then loyal miners will see mediocre profits, miner-dumpers will see Catcoin as yet another useful-idiot type coin to mine and dump with zero loyalty, and we have lost the uniqueness among altcoins.

At least right now, despite the very long confirmation times, cheap catcoins are not being replenished to the miner-dumpers, months of scaricity (despite slow confirm times), would have I'm sure driven prices back up, to the point where more mining would have been attracted. And as long as we were collectively willing to put up temporarily with very slow confirm times, we could have used the time to strategize on how to normalize difficulty (with a loyalty credit type modification - or just some organized coordinated effort). But now we will just have a rapid mix of too slow and too fast mining times, perhaps too fast for most people to notice, but miner-dumpers can and will seize upon it., and more coins will be mined and dumped than mined and held.

[cysto]

We're already at block 20270. When will the updated wallets be released? And please have a Windows Qt wallet ready this time...

[overseerio]

We're already at block 20270. When will the updated wallets be released? And please have a Windows Qt wallet ready this time...

The last block took 4 hours to find: http://catchain.info

At this rate, we won't hit block 20290 until 3 days from now -- don't panic

[Nullu]

Your hypothesis only has merit if you assume miners are a coordinated entity. They are not. There are too many miners for it to oscillate. They'd all be competing with another other. It would just smear out, or the dips would be low.

They'll all be waiting for the difficulty to lower, and none of them will pick the same time to jump in. There's a limit to how low it would drop until opportunism kicks in.

That's just a simple software problem. Miner-dumper coders will sooner or later figure out how to write a program to watch the blockchain and switch into mining at the precise moment to maximize accumulating cheap Catcoins, and stop mining the coin, just as the high difficulty phase kicks back in - and also do the same for the other hyper-adjusting altcoins. I suspect this kind of program is already written, but being hoarded by miner-dumpers who think they have a trade secret on easy money mining, but it will become widely distributed soon, and the instant switch-on instant switch-off effect will become more pronounced. Miner-dumpers are after maximum profit, and this relatively simple logic would accomplish maximizing profits. The only solution to this is to fix the perverse incentive that is coded into the coin code, to engage in this behavior. If this is not going to be done, then loyal miners will see mediocre profits, miner-dumpers will see Catcoin as yet another useful-idiot type coin to mine and dump with zero loyalty, and we have lost the uniqueness among altcoins.

At least right now, despite the very long confirmation times, cheap catcoins are not being replenished to the miner-dumpers, months of scaricity (despite slow confirm times), would have I'm sure driven prices back up, to the point where more mining would have been attracted. And as long as we were collectively willing to put up temporarily with very slow confirm times, we could have used the time to strategize on how to normalize difficulty (with a loyalty credit type modification - or just some organized coordinated effort). But now we will just have a rapid mix of too slow and too fast mining times, perhaps too fast for most people to notice, but miner-dumpers can and will seize upon it., and more coins will be mined and dumped than mined and held.

Now we're in conjecture territory. If everyone's watching to jump in at a difficulty level of their choosing, then it all comes apart by whoever "bids" at the highest difficulty. That's the opposite of a price dumping strategy to sell quickly and cheaply.

I don't think anyone can predict what's going to happen next. If they could then the price would either be crashing or soaring. The fact that it isn't really says that nobody is sure, as there are people on either side of the fence. I enjoy hypothesising what will happen, but I don't think we'll really know until it happens.

[epenue]

ok, lets move some mhs to this coin, last chance 

which pool to use? i want to move my power and forget about all this for some days, seriously guys this is exhausting. 

[TheTribesman]

Your hypothesis only has merit if you assume miners are a coordinated entity. They are not. There are too many miners for it to oscillate. They'd all be competing with another other. It would just smear out, or the dips would be low.

They'll all be waiting for the difficulty to lower, and none of them will pick the same time to jump in. There's a limit to how low it would drop until opportunism kicks in.

That's just a simple software problem. Miner-dumper coders will sooner or later figure out how to write a program to watch the blockchain and switch into mining at the precise moment to maximize accumulating cheap Catcoins, and stop mining the coin, just as the high difficulty phase kicks back in - and also do the same for the other hyper-adjusting altcoins. I suspect this kind of program is already written, but being hoarded by miner-dumpers who think they have a trade secret on easy money mining, but it will become widely distributed soon, and the instant switch-on instant switch-off effect will become more pronounced. Miner-dumpers are after maximum profit, and this relatively simple logic would accomplish maximizing profits. The only solution to this is to fix the perverse incentive that is coded into the coin code, to engage in this behavior. If this is not going to be done, then loyal miners will see mediocre profits, miner-dumpers will see Catcoin as yet another useful-idiot type coin to mine and dump with zero loyalty, and we have lost the uniqueness among altcoins.

At least right now, despite the very long confirmation times, cheap catcoins are not being replenished to the miner-dumpers, months of scaricity (despite slow confirm times), would have I'm sure driven prices back up, to the point where more mining would have been attracted. And as long as we were collectively willing to put up temporarily with very slow confirm times, we could have used the time to strategize on how to normalize difficulty (with a loyalty credit type modification - or just some organized coordinated effort). But now we will just have a rapid mix of too slow and too fast mining times, perhaps too fast for most people to notice, but miner-dumpers can and will seize upon it., and more coins will be mined and dumped than mined and held.

Now we're in conjecture territory. If everyone's watching to jump in at a difficulty level of their choosing, then it all comes apart by whoever "bids" at the highest difficulty. That's the opposite of a price dumping strategy to sell quickly and cheaply.

I don't think anyone can predict what's going to happen next. If they could then the price would either be crashing or soaring. The fact that it isn't really says that nobody is sure, as there are people on either side of the fence. I enjoy hypothesising what will happen, but I don't think we'll really know until it happens.

WE WILL GO TO THE MOON!!

[zerodrama]

Mark my words - this will lead to endless cycles of a 12-24 hours at high difficulty (e.g., 30 minute block time x 36 = 18 hours), followed by very easy difficulty for less than an hour (e.g., 1 minute block time x 36 = 36 minutes) during which time miner-dumpers will put massive hashing power to get cheap catcoins and dump on the markets, followed again by 12-24 hours at high difficulty when loyal miners suffer, and repeat over and over again. Just a speeded up version of the same problem. Coin prices languish. The problem is the oscillation with the inherent temporary high hash power combined with dumping of the cheaply mined coins, at the expense of loyal miners - and not just the particular unrealistically high difficulty phase / slow confirm times. High difficulty is merely a symptom.

Coin sites are slow and prices are down, so twitch miners won't be back for a while.

And why reset to difficulty=16? We had too much mining going on (like 1 per minute or faster) when the difficulty was at 64. Faster confirm times means more coins being mined and dumped. This may temporarily pump up the coin value from the excitement, but look at the past week of DOGE prices, for a taste of what this excitement leads to. And what's with the "poll" that was open for only 4 hours? I go to sleep, wake up, and find my vote isn't counted. This smells like consensus manipulation.

That was at 2016. At the 36 there will be fewer mined.

I agree with the sentiment that changing block readjust parameter is changing the rules of the game after starting. My proposal for adding a Loyalty Credit is at least designed to restore normality, where under most circumstances 2016 blocks for readjusting, and 50 blocks per block solved, (and all the other parameters), would continue, minus the crazy difficulty swings.

2016 does not define the coin. It defines the recalibration to 10 minutes. 10 minutes defines the coin. 2016 prevents it from being 10 minutes. Loyalty cannot be regulated. Every layer of loyalty credits leads to more loyalty fragmentation. I worked it out. It fails.

But if the original developer has bought in, very well, I expect the coin prices to recover somewhat, and we will go from an underperforming coin (I believe based on FUD) with at least an intact soul, to a yet-another-mine-and-dump-altcoin, which in some particular sense is an improvement. Prices will probably go up somewhat, I will not dump CATs right now for this reason - a purely economic reason. But the decision to address only the symptoms is disappointing, in that now there is no particular reason why CAT is special anymore. It's like an artist selling out his soul, to get a respectable entry level job in middle management, giving up music, because his family harraged him about his slow rate of earning income, but at the cost of his potential to become a star.

Etblvu1

2016 is not the soul. It's the rechargeable battery for keeping at 10 minutes. 10 minutes is the soul.

[kovand11]

Starting difficulty: 0.00024414 

Why? This diff is so low that a single gpu can mine 2 week amount within hours.

block date                       
0   2013-12-23 22:38:22
2016   2013-12-24 01:08:48
4032   2013-12-24 01:36:06
6048   2013-12-24 01:58:43

How can it be fair, that 2 month CAT supply was mined in 3 hours?

[kaene]

well, guess there goes that....

Only liked this coin because it basically was Bitcoin Scrypt.

Time to dump my Crypsty stash!

GLTA

I would love to buy your coins