[ANN] Catcoin - Scrypt meow!

[Nullu]

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?

hey people
what is the situation just now?
could somebody say it in short words?

In a few days it will be a bit easier to mine catcoin, faster to send catcoin, and more miners will come back, and the market activity will increase again.

Thank you
but in the moment=now is the mining and transcattions avialable, or should we pause?

Mining now may keep the new difficulty a little higher, so in theory any hashrate thrown at Catcoin now should make it a smoother transition. It wouldn't be a personal advantage, but mining now would be in the best interests of Catcoin.

Thanks for the info
I've put my hashrate in another coin now, but in the morning I'll change to CAT I like CAT from its name, the same like FRK
Look at this http://chojnice24.pl/artykul/17299/kaszubska-muzyka-wchodzi-w-epoke-cyfrowa/ it's a Polish local newspaper saying about first music group accepts CAT as a payment for concerts and CD

That's amazing! Finally some news on Catcoin! Is this real? This needs to be in the first post.

[1714748160]

1714748160

[nonny12]

Forcoin living up to its release, I see.  

[Nullu]

Articles on Catcoin - will update list as I find them;

http://chojnice24.pl/artykul/17299/kaszubska-muzyka-wchodzi-w-epoke-cyfrowa/
http://www.bubblews.com/news/1934129-free-catcoin
http://www.dcmagnates.com/dogecoin-prices-down-passing-fad-or-is-it-the-rise-of-catcoin/

I'm find quite a few forum threads about it as well.

[alicea]

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?

hey people
what is the situation just now?
could somebody say it in short words?

In a few days it will be a bit easier to mine catcoin, faster to send catcoin, and more miners will come back, and the market activity will increase again.

Thank you
but in the moment=now is the mining and transcattions avialable, or should we pause?

Mining now may keep the new difficulty a little higher, so in theory any hashrate thrown at Catcoin now should make it a smoother transition. It wouldn't be a personal advantage, but mining now would be in the best interests of Catcoin.

Thanks for the info
I've put my hashrate in another coin now, but in the morning I'll change to CAT I like CAT from its name, the same like FRK
Look at this http://chojnice24.pl/artykul/17299/kaszubska-muzyka-wchodzi-w-epoke-cyfrowa/ it's a Polish local newspaper saying about first music group accepts CAT as a payment for concerts and CD

That's amazing! Finally some news on Catcoin! Is this real? This needs to be in the first post.

You can make it the first post I would be very glad to have a catcoin client binary for ubuntu 32-bit downlodable (exactly the same way I've downloaded client for FRK or LTC, because I like to have 'my personal dashboard' on my mystic-old laptop

[zerodrama]

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?

It's fair because it was users on forums mining, not developers.

Also that's how fast coins mine now. Because everyone knows about them.

The people who DIDN'T mine CATs were MINING OTHER COINS at launch time.

NO ONE LOST OUT, except people who don't pay attention to news about coins.

And don't forget scrypt is actually 65336 * diff.

[zerodrama]

Noob question: so does the upcoming fork mean that there will suddenly be an influx in supply of catcoins, meaning dumping and an even lower price?
Or is the price expected to rise because of increased demand from faster confirmations?

any other opinions?

After the fork the coin will continue normally like if the difficulty never got this high and will be stronger against multipools jumps. Why an influx in supply?

lower difficulty -> more mining -> more coins -> greater supply
faster confirmations -> more pumping and dumping?

NO. The dump will be shorter. So, no. Difficulty will rise and fall faster. No more trap.

[etblvu1]

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.

Except if people jump into and out of mining the coin, it will not recalibrate to 10 minutes. Maybe the difficulty retargets it will be somewhat more moderated, but that's because we are hiding the symptoms by changing things so fast that we are hoping miner-dumpers don't keep up. But that is regularizing the difficulty adjustments, in the same sense as claiming that security by obscurity is real security. It is easily defeated by coding.

In a way, having the long block adjust time, serves to highlight the underlying problem, like a canary in a mine showing up toxic gasses before people start dying. I would consider this a subtantial virtue of the long difficulty adjustment period. It provides an opportunity to perceive the problem in purer, exaggerated form, so that a real fundamental fix can be test as a true long-term solution for real. Shortening the difficulty adjustment poriod is like simply taking the canary out of the mine, and would not be a legitimate way to improve the health of miners. (pun not intended).

Now, I find your comment about "every layer of loyalty credits leads to more loyalty fragmentation" interesting. Since loyalty credits are just expiring fictional units, not transferable, does not accumulate over time, and is not stored on the blockchain (but just derived from studying existing blockchain data), how would there be layers? Please explain.

[janos666]

So CAT coin waited ~4 days for the market to accept the price range which would make it profitable to mine before it bailed and accepted an inflation instead.



As a combined miner and speculator of this coin, I find this even more sad than a natural death.

I always knew and even said this publicly: This coin will either rise to the sky or entirely die out very fast.
I was ready to accept if the coin dies. But I never considered the possibility of an engineered inflation.

I will wait for an opportunity to sell all my CATs with a minimal loss and I will never want to hear from it again.

[YoyodyneSystems]

Noob question: so does the upcoming fork mean that there will suddenly be an influx in supply of catcoins, meaning dumping and an even lower price?
Or is the price expected to rise because of increased demand from faster confirmations?

any other opinions?

After the fork the coin will continue normally like if the difficulty never got this high and will be stronger against multipools jumps. Why an influx in supply?

The supply will be stable at 7,200 coins per day now. Regardless of the hashrate.

[zerodrama]

Except if people jump into and out of mining the coin, it will not recalibrate to 10 minutes. Maybe the difficulty retargets it will be somewhat more moderated, but that's because we are hiding the symptoms by changing things so fast that we are hoping miner-dumpers don't keep up. But that is regularizing the difficulty adjustments, in the same sense as claiming that security by obscurity is real security. It is easily defeated by coding.

This is circular and twisted. That's like saying the meat freezer is too cold for people. No. Don't keep people in the freezer so long.

At 36 blocks it becomes difficult for high difficulty to be established at all, because the same multipools that bring too many GPUs also chase them away before the difficulty goes too high.

In a way, having the long block adjust time, serves to highlight the underlying problem, like a canary in a mine showing up toxic gasses before people start dying. I would consider this a subtantial virtue of the long difficulty adjustment period. It provides an opportunity to perceive the problem in purer, exaggerated form, so that a real fundamental fix can be test as a true long-term solution for real. Shortening the difficulty adjustment poriod is like simply taking the canary out of the mine, and would not be a legitimate way to improve the health of miners. (pun not intended).

That's like saying you should keep a cut in your arm because it tells you you're bleeding. No. Fix the cut, not the bleeding.

Now, I find your comment about "every layer of loyalty credits leads to more loyalty fragmentation" interesting. Since loyalty credits are just expiring fictional units, not transferable, does not accumulate over time, and is not stored on the blockchain (but just derived from studying existing blockchain data), how would there be layers? Please explain.

Your loyalty credits do not differentiate between Slow Loyal miners who get 3 blocks and Fast Hop miners who get 10 blocks. Every attempt to dodge that effect just makes it show up elsewhere.

[zerodrama]

So CAT coin waited ~4 days for the market to accept the price range which would make it profitable to mine before it bailed and accepted an inflation instead.



As a combined miner and speculator of this coin, I find this even more sad than a natural death.

I always knew and even said this publicly: This coin will either rise to the sky or entirely die out very fast.
I was ready to accept if the coin dies. But I never considered the possibility of an engineered inflation.

I will wait for an opportunity to sell all my CATs with a minimal loss and I will never want to hear from it again.

There is no inflation. There was a forced CHOKE.

CHOKING is not OK.

Your so called inflation is meaningless because it ends in 6 hours after the repair. The inflation came BEFORE, like all LAST WEEK. You didn't seem to mind THAT inflation.

NOW everyone has to SUFFER for YOUR inflation.

I love how god damn twisted your point of reference is.

[userpacman]

So CAT coin waited ~4 days for the market to accept the price range which would make it profitable to mine before it bailed and accepted an inflation instead.



As a combined miner and speculator of this coin, I find this even more sad than a natural death.

I always knew and even said this publicly: This coin will either rise to the sky or entirely die out very fast.
I was ready to accept if the coin dies. But I never considered the possibility of an engineered inflation.

I will wait for an opportunity to sell all my CATs with a minimal loss and I will never want to hear from it again.

There is no inflation. There was a forced CHOKE.

CHOKING is not OK.

Your so called inflation is meaningless because it ends in 6 hours after the repair. The inflation came BEFORE, like all LAST WEEK. You didn't seem to mind THAT inflation.

NOW everyone has to SUFFER for YOUR inflation.

I love how god damn twisted your point of reference is.

+1

Generation rate remains the same as planned, total amount of money too. In a couple of hours difficulty will adjust. I can't see a reason to panic.

[envy2010]

Except if people jump into and out of mining the coin, it will not recalibrate to 10 minutes. Maybe the difficulty retargets it will be somewhat more moderated, but that's because we are hiding the symptoms by changing things so fast that we are hoping miner-dumpers don't keep up. But that is regularizing the difficulty adjustments, in the same sense as claiming that security by obscurity is real security. It is easily defeated by coding.

In a way, having the long block adjust time, serves to highlight the underlying problem, like a canary in a mine showing up toxic gasses before people start dying. I would consider this a subtantial virtue of the long difficulty adjustment period. It provides an opportunity to perceive the problem in purer, exaggerated form, so that a real fundamental fix can be test as a true long-term solution for real. Shortening the difficulty adjustment poriod is like simply taking the canary out of the mine, and would not be a legitimate way to improve the health of miners. (pun not intended).

This is why difficulty SHOULD be retargeted every 36 blocks, but that the new difficulty should be that calculated from the hashrate for the previous 2016 blocks. This gives the short-term stability of long retarget periods, and also most of the quick response time of the short retargeting period.

The difficulty would track to a point high enough that large amounts of hash jumping in and out would have little effect, but low enough that confirmations and transactions still occur.

[janos666]

There is no inflation. There was a forced CHOKE.

CHOKING is not OK.

Your so called inflation is meaningless because it ends in 6 hours after the repair. The inflation came BEFORE, like all LAST WEEK. You didn't seem to mind THAT inflation.

NOW everyone has to SUFFER for YOUR inflation.

I love how god damn twisted your point of reference is.

The fork is precisely an engineered inflation, no more, no less. This is a fact, regardless if it grants a beautiful feature for the coin instead of a certain death, or not.

Yes, after the changes are made, there won't be any more inflation and inflation won't be the right word anymore. But it is now.
The coin will accept and build in the inflation which is already happened. But instead of a random, natural and temporal inflation, it will be engineered and permanent.

This way, my loss isn't just blind luck anymore, or the will of many thousands. It is a decision of a few (at the very end, actually a single) person.
This is relevant for me when I talk about how I feel about the coin.

[bitwho]

what would i need to do to be prepared for this fork. could some one explain it to me like im 5?

[Nullu]

Well, I've had an idea to raise Catcoin's profile considerably. I'll let you know in a day or two if it pans out.  

[etblvu1]

Your loyalty credits do not differentiate between Slow Loyal miners who get 3 blocks and Fast Hop miners who get 10 blocks. Every attempt to dodge that effect just makes it show up elsewhere.

Is this something I have said, or something you are assuming?

If a low hashrate loyal miner goes through a loyalty-supporting pool, and mines 0.054 coins during a particularly difficult time, the pool would indicate to him he has earned 0.054 coins plus 0.054 loyalty credits. A high hashrate loyal miner solo mines, and finds 10 blocks during a difficult time, and each time he found a block, he sees in his QT wallet, that he has gained 50 coins, plus 50 loyalty credits, for a total of 500 coins and 500 loyalty credits.

Now, the difficulty level goes way down, and it is easy to mine blocks. The low hashrate loyal miner continues mining through the pool, and he pretty quickly earns 0.054 coins and in the process extinguishes the 0.054 loyalty credits. A non-loyal slow miner who did not earn loyalty credits contributes the same amount of hash to the same pool (jumping in for the easy difficulty), but not having earned loyalty credits during the previous high difficulty era, receives only .027 coins, per rules of the coin.

In the meantime, the loyal solo miner, quickly finds 10 blocks during this easy difficulty era, and each time he finds the block, he extinguishes 50 loyalty credits and receives 50 coins. At the end of the easy mining era, he has acquired 500 coins, and used up all the loyalty credits. A non-loyal solo miner decides to jump in to try to take advantage of the easy difficulty level with equal hash power, also solves 10 blocks, but because he did not have any loyalty credits to extinguish as he solved each block, he only got 25 coins per block solved, for a total of 250 coins. Maybe he decides he'd better stick around and mine this coin during difficult times, so next time the easier difficulty comes around, he can earn 50 coins per block. And this is precisely the behavior we want to encourage.

In what way do these scenarios fail to differentiate between slow loyal miners and fast hop miners, or reward the fast hop miners for their behavior?

[envy2010]

The fork is precisely an engineered inflation, no more, no less. This is a fact, regardless if it grants a beautiful feature for the coin instead of a certain death, or not.

Yes, after the changes are made, there won't be any more inflation and inflation won't be the right word anymore. But it is now.
The coin will accept and build in the inflation which is already happened. But instead of a random, natural and temporal inflation, it will be engineered and permanent.

This way, my loss isn't just blind luck anymore, or the will of many thousands. It is a decision of a few (at the very end, actually a single) person.
This is relevant for me when I talk about how I feel about the coin.

Inflation isn't the right word even now, since the change does not directly affect the current or future value of the coin. The change is not taking place in order to make it profitable to mine. The change is designed to allow transactions to occur, which isn't happening at the current difficulty. With the corrected difficulty adjustments, the current mining will be enough to process transactions.

[envy2010]

Your loyalty credits do not differentiate between Slow Loyal miners who get 3 blocks and Fast Hop miners who get 10 blocks. Every attempt to dodge that effect just makes it show up elsewhere.

Is this something I have said, or something you are assuming?

If a low hashrate loyal miner goes through a loyalty-supporting pool, and mines 0.054 coins during a particularly difficult time, the pool would indicate to him he has earned 0.054 coins plus 0.054 loyalty credits. A high hashrate loyal miner solo mines, and finds 10 blocks during a difficult time, and each time he found a block, he sees in his QT wallet, that he has gained 50 coins, plus 50 loyalty credits, for a total of 500 coins and 500 loyalty credits.

Now, the difficulty level goes way down, and it is easy to mine blocks. The low hashrate loyal miner continues mining through the pool, and he pretty quickly earns 0.054 coins and in the process extinguishes the 0.054 loyalty credits. A non-loyal slow miner who did not earn loyalty credits contributes the same amount of hash to the same pool (jumping in for the easy difficulty), but not having earned loyalty credits during the previous high difficulty era, receives only .027 coins, per rules of the coin.

In the meantime, the loyal solo miner, quickly finds 10 blocks during this easy difficulty era, and each time he finds the block, he extinguishes 50 loyalty credits and receives 50 coins. At the end of the easy mining era, he has acquired 500 coins, and used up all the loyalty credits. A non-loyal solo miner decides to jump in to try to take advantage of the easy difficulty level with equal hash power, also solves 10 blocks, but because he did not have any loyalty credits to extinguish as he solved each block, he only got 25 coins per block solved, for a total of 250 coins. Maybe he decides he'd better stick around and mine this coin during difficult times, so next time the easier difficulty comes around, he can earn 50 coins per block. And this is precisely the behavior we want to encourage.

In what way do these scenarios fail to differentiate between slow loyal miners and fast hop miners, or reward the fast hop miners for their behavior?

I like this idea, but it seems difficult to implement compared to a weighted-average difficulty that retargets at a short interval (e.g. 32 blocks) but uses a longer interval (e.g. 2016 blocks) as the basis for calculating the next difficulty so that hash has to increase long-term to increase difficulty significantly.

[zerodrama]

There is no inflation. There was a forced CHOKE.

CHOKING is not OK.

Your so called inflation is meaningless because it ends in 6 hours after the repair. The inflation came BEFORE, like all LAST WEEK. You didn't seem to mind THAT inflation.

NOW everyone has to SUFFER for YOUR inflation.

I love how god damn twisted your point of reference is.

The fork is precisely an engineered inflation, no more, no less. This is a fact, regardless if it grants a beautiful feature for the coin instead of a certain death, or not.

Yes, after the changes are made, there won't be any more inflation and inflation won't be the right word anymore. But it is now.
The coin will accept and build in the inflation which is already happened. But instead of a random, natural and temporal inflation, it will be engineered and permanent.

This way, my loss isn't just blind luck anymore, or the will of many thousands. It is a decision of a few (at the very end, actually a single) person.
This is relevant for me when I talk about how I feel about the coin.

IT IS STILL THE WILL OF THOUSANDS. No. It wasn't decided by one single person. Stop with the melodrama. It was something a large number of people requested. The developer is leading it so we all get on the same ship. So that there isn't a pointless fight to establish the right chain.