[ANN] Catcoin - Scrypt meow!

[userpacman]

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.

I totally agree.

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[janos666]

Stop with the melodrama.

Thank you zerodrama. You actually made this a drama.

[Nullu]

I do like the debates in this thread. Crazy mad cryptocurrency economics at its finest.

[zerodrama]

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.

There is no difference between fast small rock and slow large rock. The momentum is the same. You don't know if they are loyal or fast. That's the problem. There is no way to tell. Also we're not trying to penalize people for choosing different coins. It's the sudden switch, that's the problem. It's like soldiers don't march over a bridge (a pool). The synchronized force can cause the bridge to collapse. The solution is to randomize the force, not penalize it. Buffer it, add some cotton, soften it. Stop treating the miners like two year olds. Some of them don't care about coins, and they have a right not to care. Maybe they have bills to pay. This isn't a college fraternity. It's a community. People come and go for various reasons.

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.

There is MORE than one coin. The fast hoppers don't leave at high difficulty in one coin. They leave when other coins have lower difficulty. You could have high difficulty and fast hoppers staying because another coin has higher difficulty or lower reward. Then the hoppers would get the reward while the slow loyals of the other coins get half rewards because they couldn't afford the electricity to mine during high difficulty.

[zerodrama]

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

download the new client when it's ready. that's it.

pools have agreed to switch.

[userpacman]

Stop with the melodrama.

Thank you zerodrama. You actually made this a drama.

LOL

[LeoC]

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

Buy coins for cheap on Cryptsy and hold!!!


Re: [#61773] Catcoin fork soon. Are my coins safe?
Cryptsy.com
To Me
Today at 4:04 PM

Hello XXXXXX,
Yes we are prepared.


BitJohn
Operations Manager
bitjohn@cryptsy.com
Tradekey: c66b821fccac75687ce5dff421c9852d67a8205b


On Fri, Jan 3 at 4:23 PM , XXXXXX <XXXXXX@yahoo.com> wrote:
Catcoin will be forking at block 20290 to fix a major flaw in the source code. I was wondering if it was safe to leave my Catcoins in the Cryptsy wallet or should I be moving them offline?
61773
Reply, Reply All or Forward | More

[userpacman]

Meanwhile price on Cryptsy went up from 0.49 BTC to 0.60 BTC for 1k CAT.

How far is "fork time"? I want to be prepared and dig some CAT too..

[foodies123]

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

Buy coins for cheap on Cryptsy and hold!!!


Re: [#61773] Catcoin fork soon. Are my coins safe?
Cryptsy.com
To Me
Today at 4:04 PM

Hello XXXXXX,
Yes we are prepared.


BitJohn
Operations Manager
bitjohn@cryptsy.com
Tradekey: c66b821fccac75687ce5dff421c9852d67a8205b


On Fri, Jan 3 at 4:23 PM , XXXXXX <XXXXXX@yahoo.com> wrote:
Catcoin will be forking at block 20290 to fix a major flaw in the source code. I was wondering if it was safe to leave my Catcoins in the Cryptsy wallet or should I be moving them offline?
61773
Reply, Reply All or Forward | More

so glad I didn't sell )

[userpacman]

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

Buy coins for cheap on Cryptsy and hold!!!


Re: [#61773] Catcoin fork soon. Are my coins safe?
Cryptsy.com
To Me
Today at 4:04 PM

Hello XXXXXX,
Yes we are prepared.


BitJohn
Operations Manager
bitjohn@cryptsy.com
Tradekey: c66b821fccac75687ce5dff421c9852d67a8205b


On Fri, Jan 3 at 4:23 PM , XXXXXX <XXXXXX@yahoo.com> wrote:
Catcoin will be forking at block 20290 to fix a major flaw in the source code. I was wondering if it was safe to leave my Catcoins in the Cryptsy wallet or should I be moving them offline?
61773
Reply, Reply All or Forward | More

is that the reason for price going back up on cryptsy?
Would you people suggest to trade there? I tried like ten days ago and everything went smooth, is it still safe?

[janos666]

Buy coins for cheap on Cryptsy and hold!!!

Why exactly?
I think we will see a 0.00025 kind of price very soon when multipool+autosell starts to roll over.

[LeoC]

Lets do this, loaded the boat at avg of 0.00053



Also 5 more BTC going through on Wednesday

Buy coins for cheap on Cryptsy and hold!!!

Why exactly?
I think we will see a 0.00025 kind of price very soon when multipool+autosell starts to roll over.

Multipool cant do shit, the only thing that has changed is the retarget.

[janos666]

Multipool cant do shit, the only thing that has changed is the retarget.

Let'C.
If I dump the coin anyway, it doesn't hurt if my loss is minimized. I just can't be optimistic about CAT anymore.

I doubt you bought those CATs just now. I have more "Points" than you and I always dump "Points" asap.

[foodies123]

Multipool cant do shit, the only thing that has changed is the retarget.

Let'C.
If I dump the coin anyway, it doesn't hurt if my loss is minimized. I just can't be optimistic about CAT anymore.

I doubt you bought those CATs just now. I have more "Points" than you and I always dump "Points".

how might one ... dump ... points ?

[Nullu]

Lets do this, loaded the boat at avg of 0.00053

https://i.imgur.com/EKBo3vx.jpg

Also 5 more BTC going through on Wednesday

Buy coins for cheap on Cryptsy and hold!!!

Why exactly?
I think we will see a 0.00025 kind of price very soon when multipool+autosell starts to roll over.

Multipool cant do shit, the only thing that has changed is the retarget.

Good grief! I hope you don't dump those just because we see a jump once the fork happens.  

That's a mighty fine bag o' cats you have there, though.

[janos666]

You idiot, points are given at midnight. Stop trolling, sell your cat and gtfo. Seriously go look at your post history lol.

I am actually having fun (yes, by acting like a moron). LOL. You just refuse to join me.

I actually have zero open orders right now on every exchange sites. I sold nothing in the last 24 hours and I don't really plan to sell anything in the next 24.
You created a nice bubble. I want a piece of it if nothing else (before it explodes, of course).

[LeoC]

I'll hold off on selling until volume picks up to the point where my order won't make much of a dent on the swing, don't worry, strong hands here, been accumulating all day thanks to panic sellers.
I kind of hope I can pick up some more cheap ones on Wed when my BTC clears but it is looking unlikely. CAT is going to take off post fork, I can feel it. Every exchange and the majority of the pools are all prepared.
Can you miners do me a favor and exit the pools until next week please, daddy wants a new yacht.

You created a nice bubble. I want a piece of it if nothing else (before it explodes, of course).

Not me. People were selling on Cryptsy because they thought it was unsafe. Now we have confirmation that every CAT purchased will be safe and can be traded post fork. LOAD THE BOATS!

Remember, we touched 0.0014 just a few days ago. It's likely we will touch it again post fork.

[skillface]

There must be a lot of traders currently browsing this thread (or one somewhat wealthy one), the price on Cryptsy just jumped back up to .00063 from ~.0005. Looks like confidence may be slowly returning now that people know something is being done about the abysmal transaction times. Of course there are still some weak hands trying to get out for whatever reason, so price will probably drop back down for a bit.

Now that Cryptsy have confirmed that they're prepared for the fork, I feel safe transferring my CAT back from my wallet.

[Nullu]

I'll hold off on selling until volume picks up to the point where my order won't make much of a dent on the swing, don't worry, strong hands here, been accumulating all day thanks to panic sellers.
I kind of hope I can pick up some more cheap ones on Wed when my BTC clears but it is looking unlikely. CAT is going to take off post fork, I can feel it. Every exchange and the majority of the pools are all prepared.
Can you miners do me a favor and exit the pools until next week please, daddy wants a new yacht.

Yeah, I get that feeling about this one. I've got nearly 900 CAT. Frustratingly waiting on a 0.25 BTC trade that could give allow me to buy even more CAT. Price may go up by the time I get it. Oh well. We'll see.

[userpacman]

At this point I'm going to buy some too and point my rig to http://cat.coinium.org/index.php

I dont want to be late when we will switch and I want to help Catcoin community.

Anyone willing to help in milling these 19 blocks fast?